Copper Concentrate Sales at Kinusi

Marula Mining PLC

10 March 2025

 

10 March 2025

Marula Mining PLC

("Marula Mining'' or the "Company")

Copper Concentrate Sales at Kinusi

Marula Mining (AQSE: MARU A2X: MAR), an African-focused mining and development company, is pleased to provide an update in relation to first copper concentrate sales at the Kinusi Copper Mine ("Kinusi") located in the Mpwapwa District of Tanzania's Dodoma Region.

Takela Mining Tanzania Limited ("Takela") executive management has been in Dodoma and on site at Kinusi over the past 3 days with representatives from one of the buyers of its production of high-grade copper concentrates. During these meetings, the detailed process for the the arrival of their trucks on site, the sampling procedures,  and the inspections and loading of material, as well as provisional grade and tonnage estimations were discussed and finalised on 7 March 2025.

Loading of material and the check samples commenced as trucks arrived at Kinusi over the weekend. The provisional payment of the 90% of the initial estimated value, based on estimated grade, tonnes loaded and prevailing copper prices is expected to be received by the end of next week, with the balance due following final weight, concentrate grade analyses results and confirmation that the concentrate specifications have been met.

Mining operations are ongoing in the recently expanded No 4 Open Pit, and Takela is continuing to mine, process and stockpile the copper concentrates with the aim of completing the previously advised initial copper sales over this quarter.

Further updates on copper concentrates sales will continue to be made as targets are achieved.

The Directors of Marula Mining 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: MAR) 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 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 and the NyoriGreen Graphite Project all in Tanzania. 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]
A2X Advisor AcaciaCap Advisors Proprietary Limited Michelle Krastanov	[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.

 

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