New Mobile Equipment Secured for Larisoro

Marula Mining PLC

27 September 2024

 

Marula Mining PLC

("Marula'' or the "Company")

  27 September 2024

New Mobile Equipment Secured for Larisoro Manganese Mine  

Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to confirm that further to the announcement on 1 March 2024, new mobile mining equipment has been secured for Larisoro Manganese Mine located in Samburu County in Northern Kenya ("Larisoro" or the "Mine").

The equipment, which comprises a track mounted excavator, front end loader and hydraulic hammer, has been obtained from global equipment manufacturer, ZoomLion Heavy Industry Science and Technology Co., Ltd ("ZoomLion") and is set to arrive on site in Q4 2024.   The Company has made a cash downpayment for the equipment, with the balance payable across nine equal monthly instalments. The new equipment is part of the Company's planned investment and expansion plans at Larisoro to increase manganese ore production and processing operations to 10,000 tonnes per month of saleable product.

Highlights:

·      Acquisition of new mobile mining equipment from ZoomLion

·      ZoomLion operate in over 100 countries and throughout Africa and are a Chinese-listed, and a major global supplier of high-end construction and heavy machinery and agricultural machinery manufacturer

·      The new mining equipment includes a Front-End Loader ZWL33G, Crawler Excavator ZE245EPro and Hydraulic Hammer

·      This new equipment is set to be transported to Larisoro in Q1 2024 and immediately commence open pit mining activities

·      The arrival and use of this equipment will give the Company the operating capacity to achieve its target monthly manganese ore production and processing rates to an initial 10,000 tonnes ("t")

·      This investment forms part of the Company's overall planned approx. US$1.5 million to be spent on new mining, crushing, screening and processing equipment at Larisoro

Jason Brewer, Marula Mining PLC CEO said:

"We are excited to have secured this new mining equipment which will have a major impact on our operations at Larisoro.

"ZoomLion has grown into one of the largest and most prominent players in the heavy machinery sector here in Africa and I believe this is the start of a broader relationship here in East Africa with them - we are already discussing our plans at the Kinusi Copper Mine and the Nyorinyori and NyoriGreen Graphite Projects too.

"This investment further demonstrates Marula's commitment to advancing mining opportunities in Kenya and in working with its partners to deliver positive results for all stakeholders."

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

About Marula Mining

Marula Mining (AQSE: MARU A2X: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mining operations and mine development projects in Africa: the Blesberg Lithium and Tantalum Mine, Northern Cape Lithium and Tungsten Project, Korridor Lithium Project  and Kruisrivier Cobalt Mine, all in South Africa; the Larisoro Manganese Mine and Kilifi Manganese Processing Operation both in Kenya; the Kinusi Copper Mine, the Nyorinyori Graphite Project, the NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania and the Nkombwa Hill Project in Zambia. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy. Marula's shares are traded on AQUIS Stock Exchange (AQSE) in London and A2X Markets in South Africa. Marula is exploring opportunities to admit its shares to trading on Kenya's Nairobi Securities Exchange and South Africa's Johannesburg Stock Exchange.

For enquiries contact:

Marula Mining PLC Jason Brewer, Chief Executive Officer Faith Kinyanjui Mumbi Investor Relations	Email : [e-mail]               Email : [e-mail]
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	[phone]
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	[phone]
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	[phone]

Caution:

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

END