Marula Mining approves 5-year budget for Kilifi operation
Marula Mining PLC an African focused mining and development company, is pleased to announce that the Company’s Board has approved the 5-year budget for the operation of the Kilifi Manganese Processing Plant located in the Tezo Area, Kilifi County in Kenya.
The 5-Year Budget has been approved following the recently signed 5-year Agency Framework Contract with Baosteel Resources South Africa (Pty) Ltd. for the purchase and sale of manganese from the Kilifi Plant as announced on 4 March 2025, and the export logistics agreement with Scan Global Logistics Kenya Limited, for the transportation and export of manganese ore as announced on 24th March 2025. It also follows the signing of three manganese ore supply agreements for the supply of, in aggregate, up to 20,000 tonnes per month of manganese ore to the Kilifi Plant.
The Company currently holds an 80% interest in the Kilifi Plant through its subsidiary Muchai Mining and Processing Kilifi Pty Limited.
Jason Brewer, CEO of Marula Mining, said:
“Approval of this 5-Year Budget for the Kilifi Manganese Processing Plant is a major step forward for the Company and has been undertaken to allow the Company’s executive management and Board to properly assess the economic contribution that is forecast to be made over the term of the recently signed agency framework contract with Baosteel Resources.
“The 5-Year Budget follows a detailed assessment of the planned operations by the Company’s technical and financial teams and executive management, and which has been advanced in parallel with the operational activities and plant modifications that are currently ongoing at the Kilifi Plant and which are to be finished shortly.
“A number of key agreements and contracts have been finalised by the Company in recent weeks and months and these have provided greater financial certainty in assessing the projected economic performance of the planned operations. This is in addition to the on-site progress at the Kilifi Plant which has provided the Company’s executive management with confidence in its ability to commence processing operations on time in April 2025 and meet the initial 5,000t of manganese deliveries under the agency framework with Baosteel Resources.
“I look forward in providing further updates on operations and development activities at the Kilifi Plant shortly.”
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.
