Marula Mining Plc - Establishment of Copper and Graphite Mining Subsidiary in Kenya
Announcement provided byMarula Mining PLC · MARU
Marula Mining PLC
(“Marula’’ or the “Company”)
24 May 2023
Establishment of Copper and Graphite Mining Subsidiary in
Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to announce the establishment of a wholly owned
Muchai Mining Kenya has been established to focus on securing both near-term and advanced copper and graphite mining opportunities in
- Muchai Mining Kenya is a 100% wholly owned subsidiary of Marula and will be the Company’s operating entity in
- The decision to establish Muchai Mining Kenya follows extensive due diligence on several copper and graphite opportunities in
Kenyawhich the Company anticipates concluding in due course
- The establishment of Muchai Mining Kenya reinforces the Company’s presence in
East Africaand follows the local registration of Marula Mining plc in Kenyain September 2022 as well as the establishment of the Company’s head office in Nairobi
- The Board believes that through this new operating subsidiary, the Company will be able to play a role in Kenya’s mining and metals sector and further advance its strategy to identify, develop and advance new, prospective battery metals opportunities
- The incorporation of Muchai Mining Kenya follows the earlier establishment of the Company’s 80% owned Zimbabwean operating subsidiary, Muchai Mining (Pvt) Limited, to secure similarly advanced battery metals projects in the lithium and copper sectors
Jason Brewer, Marula Mining PLC CEO, said:
"The decision to establish Muchai Mining Kenya follows a period of significant in-country work and comes after careful consideration of various opportunities in the region.
“I have been impressed with how the Kenyan government is emphasising the importance of its mining sector, for the future growth of the Kenyan economy. As a company we have been actively engaged with a number of industry groups in the country and are keen to play a role in establishing Kenya’s mining sector as a contributor to economic growth and employment. Marula's experience and expertise gives us no doubt that Muchai Mining Kenya is well positioned for success.
“As we continue to identify and pursue opportunities that can deliver value to our shareholders, we believe
The Directors of Marula are responsible for the contents of this announcement.
About Marula Mining
Marula Mining (AQSE: 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
Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya’s Nairobi Securities Exchange.
For enquiries contact:
Marula Mining PLC
Chief Executive Officer
Faith Kinyanjui Mumbi
Email : firstname.lastname@example.org
Email : email@example.com
AQSE Corporate Adviser
Cairn Financial Advisers LLP,
Liam Murray / Ludovico Lazzaretti
+44 (0)20 7213 0880
Peterhouse Capital Limited,
+44 (0)20 7469 0930
Financial PR and IR
Tim Blythe / Megan Ray / Said Izagaren
+44 (0)20 7138 3204
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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