Chilwa Minerals Limited agreed to acquire EL0670/22 and EL0671/22 from Luso Global Mining B.V. for AUD 3.8 million.

Chilwa Minerals Limited is an Australia-based company, which is engaged in mining exploration. The Company owns 100% of the mineral sands and rare earths at the Lake Chilwa precinct. Its primary exploration targets are critical mineral deposits, specifically heavy mineral sands (ilmenite and zircon) as well as garnet (silicate mineral group). The area is also prospective for rare earth elements, such as monazite and xenotime, with existing geology workings and adjacent tenement discoveries indicating this potential. Its Chilwa Project is located around the northern, western and southern shores of Lake Chilwa in Southern Malawi. The project comprises two licenses with a total land area of 878.7 square kilometers. Its deposits include Mposa Main and Mposa North, Bimbi and Northeast Bimbi, Namasalima, Halala, Nkotamo, Beacon and Namanja West, and Mpyupyu (Dune) and Mpyupyu (Flat). Its products include Zircon, Ilmenite, and Garnet.