Marula Mining Sends First Manganese Ore Shipment from Larisoro Mine in Kenya

Initial Shipment Marks a Key Milestone for Marula

Marula Mining, which is listed in London, has successfully completed its first shipment of manganese ore from the Larisoro Manganese Mine in Kenya, in collaboration with Gems and Industrial Minerals (GIM). This initial delivery represents a significant advancement under their Mine Support Services Agreement (MMSA).

Export to China Under Existing Agreements

The first shipment, consisting of 476 tonnes of manganese with an average grade of 37%, was sourced from stockpiles managed by GIM in Nairobi. After being transported to the port of Mombasa, the ore was shipped to China on September 16, where it will be received by customers under existing offtake agreements. Marula is set to receive 60% of the net proceeds from this sale.

Marula plans to sell ore from the Larisoro mine on a monthly basis, with expectations for sales to increase in Q4 2024. A $1.5 million investment will help accelerate mining, crushing, screening, and processing operations at the site, aiming to boost production capacity to 5,000-10,000 tonnes of high-grade ore over the next 3-6 months. The company’s long-term exploration strategy targets an annual output of 60,000 tonnes.