Purchase Contract with Traxys for Kinusi Copper
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Marula Mining PLC
("Marula'' or the "Company")
25 March 2026
Purchase Contract with Traxys for Kinusi Copper Mine Production
Marula Mining PLC (AQSE: MARU A2X: MAR) an African focused mining and development company, is pleased to announce an update on advanced negotiations regarding a proposed long-term offtake agreement of the Company's copper production from the Kinusi Copper Mine in Tanzania ("Kinusi" or the "Project").
Following the update on 26 June 2025, Takela Mining Tanzania Limited ("Takela") has entered into a purchase contract with global metals trading group Traxys Europe SA ("Traxys") for the delivery and sale of 100% of copper production from Kinusi.
Traxys Europe S.A. is part of the Traxys Group, a leading international physical commodity trader and merchant in metals and natural resources. Traxys provides global marketing, logistics and financial solutions across the supply chain, with a particular focus on base metals, concentrates, and industrial minerals.
Highlights:
· Traxys has secured exclusive offtake rights over the Project's copper until December 2029, with an option to extend for a further two years
· Initial deliveries are scheduled to commence in May 2026, with ramp-up over the subsequent months
· From the ramp-up phase, Traxys will purchase the full production of the Project for the duration of the agreement
· Pricing will be linked to the London Metal Exchange ("LME") copper price, with commercial terms aligned to prevailing market conditions
· The agreement incorporates standard industry practices for sampling, assaying, logistics and settlement
This agreement positions the Company to advance the two-phased development of Kinusi with confidence and with the aim to generate long-term and sustained returns for its shareholders.
Jason Brewer, Chief Executive Officer of Marula Mining Plc, said:
"The signing of this long-term purchase contract with Traxys is a major milestone for both Marula and the Kinusi Copper Mine. It gives us a secure and reliable sales channel for all copper ore production from Kinusi and, through Traxys, direct access to international copper markets.
"Importantly, this agreement not only delivers market access but also provides the financial stability needed to support the continued development of our operations.
"We look forward to working with Traxys as Kinusi moves forward."
Stephane Chirossel, Global Head Copper of Traxys Group, said:
"We are delighted to enter into this long-term offtake agreement with Marula and its partner Takela for the Kinusi Copper Mine. Traxys has an established presence in Central Africa, where we are actively engaged in the sourcing and trading of copper and other base metals. This new partnership strengthens our regional portfolio and reinforces our commitment to supporting responsible, sustainable, and transparent copper production across Africa. We look forward to working closely with Marula to ensure the successful development and long-term growth of the Kinusi operation."
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 Traxys Group
Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management, and trading activities are conducted by over 450 employees in over 20 offices worldwide, and its annual turnover exceeds USD 10 billion. Headquartered in Luxembourg, Traxys is engaged in sourcing, trading, marketing, and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials, and energy. The Group serves a broad base of industrial customers and offers a full range of commercial and financial services. Traxys is committed to the highest internationally recognized principles for responsible business conduct, and to ensuring that its operations are equitable, sustainable, and transparent. Traxys premises its practices on environmental, social, and governance (ESG) standards that enable Traxys to set a leading example for the responsible sourcing and trading of metals and minerals.
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 critical mineral mining operations and mine development and exploration projects in East and Southern Africa. 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, 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.
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 |
|
A2X Advisor AcaciaCap Advisors Proprietary Limited Michelle Krastanov |
+27 (11) 480 8500 |
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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