Marula Mining (LSE:MARU), the African-focused mining and development company, said logistical shifts have moved the first copper and manganese sales from May into June, with immediate commercial activity now scheduled to start.
Delivery of Kinusi copper to Traxys Europe is expected in late June/early July following infrastructure upgrades, asset deployment, annual licence fee payments and work on a new environmental impact assessment, the company said.
Marula has installed a new crushing and screening circuit and refurbished on-site equipment, Traxys completed a site visit of core licence areas, and meetings in Johannesburg are due this week to finalise the delivery schedule under Traxys’ exclusive offtake to December 2029 with a two‑year extension option.
At Kilifi, Marula expects to begin shipments under its Agency Framework Contract with Baosteel Resources South Africa later this month after independent assays of stockpiled processed manganese averaged over 47% manganese against a 36.5% contract specification.
A planned 500‑tonne trial shipment to Jindal Pelletising has been postponed because conflict in the Middle East disrupted shipping logistics and costs.
Marula has completed legal, technical and financial due diligence on the Tonto Tshipi and Derdepoort manganese mines and says operations can recommence once funding under the binding term sheet with Infirnity Resource Group (Pty) is advanced.
Approximately 80% of the required working capital is available under undrawn and unrestricted debt facilities, with the balance intended to be met from forecast operating cashflow.
Independent inspections on behalf of a major global commodities group have taken place and negotiations on a long‑term manganese offtake are underway, with further Johannesburg meetings scheduled later this week.
