November 8, 2023 (Source) — Critical Metals plc, a mining company established to acquire mining opportunities in the critical and strategic metals sector, currently developing an ex-producing copper cobalt mine in the Democratic Republic of Congo (“DRC”), is pleased to announce that it has worked with the local community to successfully open Molulu’s first Primary School – the E.P Molulu School (‘the school’), providing children aged between 5 and 13 years’ old with access to education.
The Molulu Primary School, was built by the local community and Critical Metal employees, with Critical Metals providing the funding for the teaching staff, currently accommodates 45 students. The school operates within two age groups, utilising a total of two classrooms. In addition to establishing the school, Critical Metals also has a near-term commitment to providing educational materials such as pens, pencils, and work notebooks, and school uniforms.
In addition to contributing essential items, Critical Metals is strategically planning for the long term to support the expansion of school facilities, fostering the growth of both the school’s infrastructure and student enrolment, as part of its Environmental and Social Governance programme.
Commenting on the results, CEO Russell Fryer said: “We believe that investing in education is not only a social responsibility but a foundation for sustainable progress. Our commitment to opening Molulu’s first Primary School underscores our dedication to working collaboratively with the communities around us, as we strive to empower communities through quality education.
We remain committed to invest in the community we operate, via employment – currently all of our fifty-one employees are Congolese except two. Access to education is the first step and pivotal to ensuring, where possible, local jobs go to local people in the future. We are privileged to have played a small part in this initial step and look forward to our continued collaboration with the local community.”
For further information contact:
| Critical Metals plcRussell Fryer, CEO | Tel: +44 (0)20 7236 1177 |
| Peterhouse Capital Limited – Corporate BrokerLucy William / Charles Goodfellow | Tel: +44 (0)20 7469 0936 / +44 (0)20 7220 9797 |
| St Brides Partners LtdFinancial PRCatherine Leftley /Ana Ribeiro/Isabelle Morris | Tel: +44 (0)20 7236 1177 |
About Critical Metals
Critical Metals PLC has acquired a controlling 100% stake in Madini Occidental Limited, which holds an indirect 70% interest in the Molulu copper/cobalt project, an ex-producing medium-scale asset in the Katangan Copperbelt in the Democratic Republic of Congo. In line with its investment strategy of focusing primarily on known deposits, targeting projects with low entry costs and the potential to generate short-term cash flow; the Company intends to produce 120,000t/per annum of Copper Oxide Ore.
The Company will continue to identify future assets that are in line with its stated acquisition objective of low CAPEX and OPEX projects with near-term production, concentrating on minerals that are perceived to have strategic importance to future economic growth and generate significant value for shareholders.
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