Revenues Received from Copper Concentrate Sales
3 April 2025
Marula Mining PLC
("Marula Mining'' or the "Company")
First Revenues Received from Initial Copper Concentrate Sales
Marula Mining (AQSE: MARU A2X: MAR), an African-focused mining and development company, is pleased to confirm that sales receipts from the first copper concentrate sales from the Kinusi Copper Mine ("Kinusi") located in the Mpwapwa District of Tanzania's Dodoma Region, have been received.
The Company has been advised by Tanzanian mining and exploration company, Takela Mining Tanzania Limited ("Takela"), who operate Kinusi, that receipt of payments that have been due for the initial trial shipment of copper concentrates, as announced on 10 March 2025, which were delayed, have now commenced. Full sales receipts have been received for the first two trucks of material of approximately 50 tonnes which form part of a 250 tonne trial shipment (the "First Shipment"), with the realised copper price for the copper concentrate sales in line with the Company's budgeted level. Further deliveries to complete the First Shipment and corresponding sales receipts are ongoing and will continue from the existing open pit mining and concentrate processing operations.
Takela has further advised that they have commenced the process of a second shipment of material from Kinusi to a European-based global commodities group as part of the planned 1,000t that are being completed by Takela. These sales are being undertaken as part of the process of finalising a long-term offtake agreement for the planned production of copper concentrates from the initial Phase 1 gravity concentrate, coarse jigging and fines dewatering circuit and the production of copper cathodes from the Phase 2 heap leach circuit, and copper solvent extraction and electrowinning refining process.
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 : jason@marulamining.com
Email : info@marulamining.com
|
|
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti |
+44 (0)20 7213 0880 |
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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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