Marula Mining PLC - Manganese Export Logistics Agreement Signed
Announcement provided by
Marula Mining PLC · MARU25/06/2024 07:00
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")
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.
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
· 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
· the Company has also secured a KES 12.5 million (approx.
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
"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
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
Marula's strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and
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, |
+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.
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