Marula Mining
PLC
("Marula'' or the "Company")
25
June 2024
Manganese Export Logistics
Agreement Signed
Marula Mining (AQSE: MARU A2X:
MARU), an African focused mining and development company, is
pleased to announce that it has entered into an export logistics
agreement ("Logistics Agreement") with Scan Global Logistics
Group's ("SGL Group") Kenya-based subsidiary, Scan Global Logistics
Kenya Limited ("SGL Kenya"), for the transportation and export of
manganese ore from the Larisoro Manganese Mine located in Samburu
County in Northern Kenya (the "Larisoro
Mine").
Under the terms of the Logistics
Agreement, SGL Kenya will manage and oversee all aspects of the ore
transportation and shipping process, including the loading and
railing of containers to the port of Mombasa, export booking
process, customs clearance, and all port-related processes, sea
freight and shipping arrangements.
In addition, the Company has secured
a revolving KES 12.5 million line of credit (approx. US$100,000)
from SGL Kenya under the Logistics Agreement which will be used to
manage costs and its working capital during the sale and export of
manganese ores during the term of the Logistics
Agreement.
Highlights:
·
key logistics and export and shipping agreement
signed with SGL Kenya
·
SGL Kenya will manage the complete process of
transportation and shipping of manganese ores from the Larisoro
Mine on behalf of the Company
·
the Logistics Agreement will see SGL Kenya manage
and oversee all aspects of the manganese ore transportation process
from the loading of wagons and containers in Nairobi to the export
booking process, customs clearance and port-related and shipping
processes in Mombasa
·
loading of manganese ore by SGL Kenya is scheduled
to commence by end of June 2024
·
SGL Kenya is part of the SGL Group, which has a
global presence in the logistics and freight forwarding industry
across all six continents and extensive experience and knowledge to
deliver comprehensive logistics solutions
·
the Logistics Agreement is in addition to the
three key operating contracts recently announced by the Company in
the announcement dated 29 May 2024 and which included the
transportation of the manganese ore from the Larisoro Mine
to Nairobi by a local Kenyan owned transportation
company
·
the Company has also secured a KES 12.5 million
(approx. US$100,000) line of credit from SGL Kenya to assist the
Company with its export and shipping costs and general working
capital requirements during the export sales and shipping
process
Jason Brewer, CEO of Marula Mining,
commented:
"We are pleased to have entered into this agreement with Scan
Global Logistics on this pivotal process for the export of
manganese ores from the Larisoro Manganese Mine.
"This collaboration underscores our commitment to efficient
operations and sustainable growth in Kenya's mining sector and
Africa as a large. SGL Group's proven expertise and extensive
support further solidify our strategic objectives. The teams are
actively working to ensure seamless execution from mine to port and
into international markets.
"We have trucks and material moving and our stockpiles are
building, so it is an exciting time for us now as revenues are due
to flow.
"It has been a busy period for our team on site at the
Larisoro Manganese Mine and I look forward to updating shareholders
with more news on our activities in Kenya, Tanzania and South
Africa."
The
Directors of Marula are responsible for the contents of this
announcement.
About Marula Mining
Marula Mining (AQSE: MARU A2X: 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 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) and South
Africa's Independent Exchange the A2X Markets, 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.