said July 19 thatit has started exploring for lithium in Tanzania as part of its diversificationstrategy to expand its business interests from coal to battery development materials,such as lithium and graphite, and renewable energy.
The company'sinitial focus is on three lithium prospecting licenses covering an area of 131.47square kilometers that have been initially awarded to its Intra Energy (Tanzania) Ltd. subsidiary.
According toIntra Energy, lithium's importance in the battery storage industry will continueto support the demand for the mineral, along with the current international renewableenergy trends.
Sampling andanalysis have not been carried out over the properties yet but Intra Energy is implementingdetailed field exploration across the licenses, which are located near 's Hombolo lithiumproject and Liontown Resources Ltd.'sMohanda lithium-tantalum project.
The companyis also looking to diversify into wind and solar energy and has been in talks witha number of parties that are also interested in developing renewable energy projectsin East Africa. Its Tancoal EnergyLtd. unit is currently working with China's SinoHydro to develop theNgaka thermal power station in Tanzania.