---
title: "Marula Mining Secures Option Over 170km² Tanzanian Licence Portfolio Next to Kinusi"
publisher: "Share Talk"
author: "sharetalk"
published: "2026-09-11T13:59:06+00:00"
modified: "2026-09-11T13:59:06+00:00"
date: 2026-09-11
canonical: "https://www.share-talk.com/marula-mining-secures-option-over-170km%c2%b2-tanzanian-licence-portfolio-next-to-kinusi/"
category: "Mining"
categories: ["Mining"]
tags: ["Africa", "AQUIS Stock Exchange", "COPPER", "geological", "Jason Brewer", "Johannesburg Stock Exchange", "Kenya", "Kinusi", "London Stock Exchange", "mapping", "MARU", "Marula Mining", "Mineralisation", "Mining", "Nairobi", "Nkwomba Hill Niobium", "Project", "rare earth element", "Richard Lloyd", "Share Talk", "South Africa", "survey", "Takela", "Tantalum", "Tanzania", "Tanzanian", "wind turbines"]
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format: "news"
language: "en-GB"
---

# Marula Mining Secures Option Over 170km² Tanzanian Licence Portfolio Next to Kinusi

**Published:** September 11, 2026
**Author:** sharetalk
**Categories:** Mining
**Tags:** Africa, AQUIS Stock Exchange, COPPER, geological, Jason Brewer, Johannesburg Stock Exchange, Kenya, Kinusi, London Stock Exchange, mapping, MARU, Marula Mining, Mineralisation, Mining, Nairobi, Nkwomba Hill Niobium, Project, rare earth element, Richard Lloyd, Share Talk, South Africa, survey, Takela, Tantalum, Tanzania, Tanzanian, wind turbines
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/09/f18e1a4b-d907-4bcb-bff0-2867352ca96e.png?fit=1727%2C911&quality=80&ssl=1)

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[Marula Mining PLC (AQSE: MARU | A2X: MAR)](https://www.investegate.co.uk/announcement/rns/marula-mining-plc--maru/option-agreement-for-prospecting-licence-portfolio/9768310) has signed a binding option agreement that could see it acquire a **95% economic interest in nine prospecting licences in Tanzania covering 170 km²**, immediately adjacent to its Kinusi Copper Mine.

**Transaction Terms**

·     * Binding term sheet signed for nine Tanzanian prospecting licences*

*·      Exclusive 45-day option period to complete due diligence and negotiate definitive documentation*

*·      Marula to acquire a 95% economic interest in the Project on exercise and completion*

*·      Total payments of US$2.0 million, comprising US$800,000 upfront and US$1.2 million payable in deferred instalments, in each case as a combination of purchase price and success fee with the exact allocation to be agreed in the definitive transaction documentation*

*·      Deferred instalments payable in two US$600,000 payments at 12 and 18 months after completion*

*·      Deferred consideration may be settled in Marula new ordinary shares at the Vendors’ election, subject to applicable conditions*

*·      Vendors to retain a 5% fully free-carried economic interest following completion*

*·      Marula may acquire the retained 5% interest for US$500,000 in cash*

The agreement with Rio Ashanti Limited, Pangani Minerals Limited and Mythos Metals Limited gives Marula an **exclusive 45-day option period** to complete due diligence and negotiate definitive transaction documentation.

The licence package includes associated geological information, technical data and related rights, potentially giving Marula a significantly expanded exploration footprint around Kinusi.

Marula has paid a **non-refundable US$100,000 option fee**, which will be credited against the initial consideration if the transaction proceeds.

On completion, Marula would pay **US$800,000 upfront**, less the option fee already paid, leaving **US$700,000 due at completion**.

A further **US$1.2 million would be payable in two instalments of US$600,000**, due 12 months and 18 months after completion.

The deferred consideration may, at the vendors’ election, be settled through the issue of **20 million new Marula shares**, subject to the resumption of trading on AQSE and any required shareholder or regulatory approvals.

Following completion, the vendors would retain a **5% fully free-carried economic interest**, meaning they would not be required to contribute towards exploration, development, operating or other project expenditure.

Marula would retain the right to acquire that remaining 5% interest at any time for **US$500,000 in cash**.

If completed, the acquisition would therefore give Marula control of a substantially larger contiguous land position around Kinusi while keeping the vendors economically aligned with the future development of the project.

However, the proposed acquisition remains subject to satisfactory due diligence, exercise of the option and completion of definitive transaction documents.

Importantly, Marula said it **does not currently have sufficient cash resources to fund the consideration payable at completion** and will therefore need to secure additional financing before the transaction can proceed.

**Chief Executive Jason Brewer said** the agreement gives Marula a clear route to securing a 95% interest in what the company considers a highly prospective Tanzanian licence portfolio, while the option structure provides exclusivity during the due-diligence process.

The proposed deal could materially expand Marula’s Tanzanian copper footprint, but the immediate focus will now be on **due diligence and securing the additional funding required to complete the acquisition**.

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**Original URL:** https://www.share-talk.com/marula-mining-secures-option-over-170km%c2%b2-tanzanian-licence-portfolio-next-to-kinusi/
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