25 March 2025
Marula Mining PLC
("Marula Mining'' or the "Company")
Updated Environmental Impact Assessment Underway at Kinusi Copper Mine
Marula Mining ( AQSE: MARU A2X: MAR ), an African-focused mining and development company, is pleased to provide an update on activities at the Kinusi Copper Mine ("Kinusi") in the Mpwapwa District of Tanzania's Dodoma Region, which is operated by Tanzanian mining and exploration company, Takela Mining Tanzania Limited ("Takela") .
The Company is pleased to confirm that Takela has engaged Tanzanian independent environmental consultants to complete an updated Environmental Impact Assessment Report ("EIA Report") for the planned two-phase development copper mining and processing operation at Kinusi that was announced on 26 September 2024.
The updated EIA Report will cover the plans for the expanded conventional open pit mine development, and the transition in H2 2025 from the initial Phase 1 gravity concentrate, coarse jigging and fines dewatering circuit that is anticipated to produce 24,000 tonnes per annum ("tpa") of high-grade copper concentrate to the Phase 2 development of a hydrometallurgy fines optimised heap leach circuit, and copper solvent extraction and electrowinning refining process to produce an initial 10,200 tpa of copper cathode.
Takela and the Company are committed to adhering to environmental best practices and ensuring the operations at Kinusi meet all applicable regulatory requirements and conditions. The EIA Report will specifically incorporate the combined group's focus on sustainable resource development. It will recognise the social and cultural principles used in the management of the environment and natural resources in the region and ensure that protection and restoration of biodiversity and ecosystems at Kinusi is core to the mining and processing activities at Kinusi.
In addition, the Company has been advised by Takela that the the annual renewal license fees for the 10 primary mining licenses that extend over Kinusi have been paid. These licenses are renewable annually and extend through to September 2029 and remain in good standing. Exploration to date on these licenses has identified significant high-grade copper mineralisation, and where at the the main Sasimo Prospect it extends for over 1 kilometre in length and over 300 metres in width and has an estimated initial Exploration Target at Kinusi of a 10-15 million tonnes deposit of high-grade copper, gold, and other base metals as announced on 18 August 2023.
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 : 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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