Marula Mining PLC - Update on Agreements for By-Products at Blesberg
Announcement provided by
Marula Mining PLC · MARU11/04/2024 15:59

Marula Mining PLC
("Marula'' or the "Company")
11 April 2024
Update on Agreements for Sale of By-Products Minerals at Blesberg Lithium and Tantalum Mine
Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to provide an update on its planned sales of its production of columbite-tantalite ("coltan"), feldspar and other by-product minerals from the Blesberg Lithium and Tantalum Mine located in the Northern Cape Province in the
As announced on 19 March 2024, the Company's wholly owned South African subsidiary South African Lithium and Tantalum Mining (Pty) Limited ("SALT") had signed a long-term offtake agreement (the "Agreement") with
The Company can confirm that It is also now progressing sales agreements with Fujax, and a number of additional parties in
Highlights
· Processing operations at Blesberg, which include the Rados XRF Particle Sorter that is already in operation and the Tomra XRT Sorter that will now be installed and commissioned this quarter (previously anticipated to be installed in Q1 2024), allow for the recovery of the lithium bearing ores and through its sorting technology, the separate recovery of the coltan, feldspar and other by-product minerals that are present.
· The Company is seeking to maximise the economics at Blesberg by entering into additional sales agreements for its production of these by-product minerals which include the coltan, feldspar and other minerals.
· The sampling program of these minerals has recently been completed and analysis is ongoing
· 150 kilograms ('kg') of coltan mineralisation from stockpiles at Blesberg has now been submitted for independent testing and analysis.
· The assay results from this testwork will be used to verify both the tantalum and niobium grades and the results will be incorporated into key commercial terms of the proposed sales agreement with local and international offtake groups including Fujax
· Representatives on site from Fujax this week to also take samples of the coltan for analyses in the
· 20.64kg of feldspar has also been sent for mineralogy analysis. The results are to be included with previous historic test work which has already confirmed that its technical specifications meet the requirements of local purchasers of feldspar for the ceramics and glass industry
· The sample results for the coltan and feldspar which will include grade, mineralogy and quality analyses are expected to be received in Q2 2024.
· The Company is anticipating sales agreements to be concluded and first sales and revenue to be received from the sale of these by-product minerals late in Q2 2024.
Henk van Zyl, Marula Mining PLC General Manager Southern Africa said:
"Blesberg has such a valuable assortment of minerals that extend beyond just the lithium bearing ores.
"We know that Blesberg was one of the major producers in
"In addition with the completed sampling program, we are also awaiting assay and metallurgical results on the feldspar mineralisation that is present at Blesberg. Historically there has been sales of this material from Blesberg into the local South African market and sales of these minerals continues from other operations in the Northern Cape."
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
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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