Update on Kinusi

Marula Mining PLC

21 February 2025

 

21 February 2025

Marula Mining PLC

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

Update on Kinusi Copper Mine

Marula Mining (AQSE: MARU A2X: MARU), an African-focused mining and development company, is pleased to provide an update on activities at the Kinusi Copper Mine ("Kinusi") located in the Mpwapwa District of Tanzania's Dodoma Region and operated by local Tanzanian mining company Takela Mining Tanzania Limited ("Takela").

The Company's Chief Executive Officer, Mr Jason Brewer, will be on site next week and will be accompanied by representatives of both a European-based global commodity trading group, Tanzanian logistics consultants and representatives from independent and internationally accredited laboratories in Tanzania.

During the site visit, further check samples of the 'ready-for-sale' high-grade copper concentrates will be taken as part of the ongoing grade verification process by representatives from these laboratories. Also as part of the Company's quality assurance and quality control procedures, all components of the mining, processing and ongoing sampling process will be inspected and checked to ensure the accuracy and reliability of the results that are to be used as part of the copper concentrate sales process and to provide a high level of confidence in the results to the purchasers of the copper concentrate sales.

Representatives of one of the European-based global commodity trading groups that are proposing to purchase the copper concentrates will also be in attendance as part of the ongoing processes related to the additional copper concentrate purchases, as well as representatives of a major regional logistics and haulage group who will inspect the current facilities and finalise arrangements for the proposed transportation of the product from the mine through to a bonded warehouse in Dar es Salaam in Tanzania.

Further updates on the sale of the copper concentrates from Takela's Kinusi Copper Mine will be provided in due course.

The Directors of Marula Mining are responsible for the contents of this announcement.

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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