Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to provide an update on its Blesberg Lithium and Tantalum Mine in South Africa (“Blesberg” or the “Project”), where the Company has secured new mobile mining equipment for ZAR20 million (approx. US$1.2M) through Q Global Commodities Group (“Q Global”) existing relationship with one of its principal equipment suppliers, Bell Equipment Limited.
The arrival of this new equipment in the current Q2 2023 to the Blesberg mine site, secured under standard hire purchase arrangements, will provide the opportunity for the Company’s mining contractors to more than double the capacity to mine the stockpiled material and commence activities on the underlying hard rock resources in the identified pegmatites.
- Marula to receive new mobile mining equipment secured from Bell Equipment Limited through its partnership with Q Global, one of South Africa’s leading independent commodity, mining, logistics and investment funds
- The new mining equipment includes a Kobelco SK380XDLC excavator, a JCB 3CX backhoe loader, two new JCB 456ZX wheel loaders, and two new Bell B25E articulated dump trucks which are scheduled to start to arrive on site later in April 2023
- The use of this equipment will effectively more than double the Company’s capacity to move the stockpiled ‘run-of-mine’ material
- Movement of this stockpiled material will also allow the Company to commence an initial resource drilling program that is scheduled to start at Blesberg later in Q2 2023 and will form part of the Company’s plans to establish a hard rock open cast lithium mining operation
- The availability of this new mining equipment on site will also allow Marula to accelerate its plans to commence development and mining of the underlying hard rock resources contained in the pegmatites
- The Company has been able to secure this new equipment and have it delivered to site in an expedient manner as part of the broader nature of the partnership it is building with Q Global
Jason Brewer, Marula Mining PLC CEO said:
“We are excited to have secured this new mining equipment, which has come about through our strengthening and broad partnership that we are building with Q Global. The confidence we now have given this relationship with Q Global has really given us the opportunity to commit to this new equipment and secure it in a timely and very costs effective manner.
This equipment will have a major impact on our operations at Blesberg, and allow us to increase the movement of the existing stockpiles and accelerate work on the planned resources drilling program and mine planning for development of the resources within the pegmatites.
“I previously stated that our new relationship with Q Global would mean we can accelerate and further develop the assets we have in our portfolio, and I believe this is a clear indication of the value of this relationship.”
The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.
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 Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project 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 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.
Forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed 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 re?ect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.
For enquiries contact:
|Marula Mining PLC
Chief Executive Officer
Faith Kinyanjui Mumbi
Email: [email protected]
Email: [email protected]
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