Marula Mining
PLC
("Marula'' or the "Company")
16 April
2024
Marula Awarded Manganese
Mineral Dealer Trading License in Kenya
Marula Mining (AQSE: MARU), an
African focused mining and development company, is pleased to
announce that its Kenyan registered and wholly owned representative
company, Marula Mining, has been awarded a Mineral Dealer's Trading
License (the "License") under Kenya's Mining Act No. 12 of 2016,
granting Marula with the right to buy, sell and export manganese
ores.
The granting of the License is
considered an important step for the Company as it looks to
complete its investment in the Larisoro Manganese Mine in Samburu
County in Kenya, increase production of high-grade manganese ores
and make sales into the export markets.
Highlights:
·
Mineral Dealer's Trading License granted to Marula
Mining
·
The License allows the Company to buy, sell and
export manganese ores in and from Kenya in accordance with the
conditions set out in the Mining Act No. 12 of 2016 and the Mining
Regulations 2017 (Dealings in Minerals)
·
License is valid until 31 December 2024 and
annually renewable
·
Manganese ores to be purchased by Marula under the
License will initially include the planned increased volumes of
manganese ore mined and processed from the Larisoro Manganese
Mine
·
These purchased manganese ores are then proposed
to be sold into the export markets by Marula under new offtake
agreements
·
In addition, the License also permits Marula to
purchase manganese ores from other Kenyan-based mining companies,
which will be undertaken as part of the Company's broader strategy
to position itself as one of the major companies in Kenya in the
manganese sector
·
The awarding of the License is an integral part of
the Company's strategy and activities in Kenya as it continues to
evaluate further investments in Kenya's manganese mining
sector
Jason Brewer, CEO of Marula
Mining, commented:
"I'm delighted to see that this Mineral Dealer's Trading
License has been awarded and follows on from the work done by our
technical and administrative teams here in Kenya.
"This is a significant milestone for us in Kenya as it allows
us to move forward with our strategy in the manganese sector, not
only at the Larisoro Manganese Mine but also at other prospective
manganese mines and projects in Kenya. It also allows us to further
cultivate and strengthen additional partnerships with the local
mining sector and local communities.
"The grant of this license enables us to engage in efficient
manganese ore transactions, and manage the export and offtake
arrangements with international counterparties. We are confident
that it will not only propel our growth here but also contribute
meaningfully to the economic development of the regions in which we
operate in Kenya, where we are looking to expand our activities
further.
"We continue to strategically position Marula in Kenya's
mining sector and believe this is another key step as we look to
accelerate and broaden our activities here."
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) is an
African focused battery metals investment and exploration company
and has interests in several high value mine projects in Africa;
the Blesberg Lithium and Tantalum Mine and Korridor Lithium Project
in South Africa, the Kinusi Copper Mine, the Nyorinyori Graphite
Project, the NyoriGreen Graphite Project and the Bagamoyo Graphite
Project all in Tanzania, the Nkombwa Hill Project in Zambia and the
Larisoro Manganese Mine located in Kenya. 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 the AQUIS Stock Exchange (AQSE), Marula is
exploring opportunities to admit its shares to trading on the
London Stock Exchange plc's Standard List, 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
: jason@marulamining.com
Email :
info@marulamining.com
|
AQSE Corporate Adviser
Cairn Financial Advisers LLP,
Liam Murray / Ludovico Lazzaretti
|
+44 (0)20
7213 0880
|
Broker
Peterhouse Capital Limited,
Charles Goodfellow / Duncan Vasey
|
+44
(0)20 7469 0930
|
Financial PR and IR
BlytheRay
Tim
Blythe / Megan Ray / Said Izagaren
|
+44 (0)20 7138 3204
|
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.