Offtake and Marketing Arrangements Update for Blesberg
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Marula Mining PLC
(“Marula’’ or the “Company”)
22 December 2023
Offtake and Marketing Arrangements Update for Blesberg Lithium and Tantalum Project
Marula Mining (AQSE: MARU) an African focused mining and development company, is pleased to provide an update on the proposed long-term offtake and marketing arrangements (the “Agreement”) for its saleable production lithium products from its Blesberg Lithium and Tantalum Mine (“Blesberg” or the “Project”).
Marula has received indicative terms and expects to conclude an exclusive marketing and offtake agreement with a major European based global commodity trading group (the “Offtake Group”) for 100% of the saleable production of lithium products from the Project in early Q1 2024. A further announcement will be made in due course.
Highlights:
- All key terms have been agreed and an exclusive marketing and offtake agreement with a major European based global commodity trading group for the production from Blesberg is being finalised
- The Agreement is for 100% of the spodumene, carbonate and other lithium products that are to be produced from Blesberg
- Marula had originally anticipated to have the Agreement signed by the end of 2023. However, the Company now aims to have the Agreement signed once commissioning of the new processing facilities at Blesberg are completed in January 2024, with first commercial sales to follow shortly thereafter
- The Company already has approx six months’ worth of stockpiled feed for the new processing facilities and expects first saleable product to be available under the Agreement early in Q1 2024
Jason Brewer, Marula Mining PLC CEO said:
“We are excited to share that the Company has received indicative terms of the offtake and marketing arrangements for Blesberg, as we move ever closer to finalising the Agreement. Blesberg holds substantial value, and its lithium product is important in the green transition, so it is important that the Agreement is negotiated in a careful and responsible manner, not only for the benefit of our shareholders, but for the eventual end users too.
“We are working hard to finalise the Agreement and look forward to sharing updates on this, as well as further progress at Blesberg and the wider portfolio.”
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 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 the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on the London Stock Exchange plc’s Standard List or AIM Market, 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
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| AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti | +44 (0)20 7213 0880 |
| Broker Peterhouse Capital Limited, | +44 (0)20 7469 0930
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| Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren | +44 (0)20 7138 3204
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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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