Tanzanian Partners of Marula Secure Seven New Mining Licences

Marula Mining has broadened the scope of its projects by obtaining seven additional graphite mining licences in Tanzania. Tanzanian local partners of Africa-focused Marula Mining have been awarded seven additional mining licence applications for graphite. These licences for the Nyorinyori Graphite Project and the NyoriGreen Graphite Project have been given to Takela Mining Tanzania (TMT) and NyoriGreen Mining Limited (NML), and they go into effect on January 10, 2024. The seven-year licences are part of Marula’s aim to solidify its 75% commercial interest in the projects by paying exploration, mining, and development activities. Through the issuance of new ordinary shares in Marula, TMT and NML have received an initial payment of $25,000 (£19,774) per licence. While NML has been allotted 600,000 shares for four licences at NyoriGreen, TMT has got 450,000 consideration shares for three licences at Nyorinyori. The company’s independent geological consultants, Geofields Tanzania, provided technical advice and suggestions that served as the foundation for the acquisition of the new licences.

Jason Brewer, CEO of Marula Mining, stated: “After the Phase 1 Programme at Nyorinyori and NyoriGreen has been completed, I’m delighted to see that these seven really promising new graphite mining licences will allow us to increase the scope of our research and development. By acquiring these rights and adding them to Marula’s contracts with TMT and NML for commercial and technical services, We may continue to focus on potential high-grade graphite mineralization sites by fortifying our position in the region and combining our exploration efforts at the projects. In conjunction with the advice from our geological experts, Geofields, and the cooperation we have received from TMT and NML, We are well-positioned to advance the projects’ Phase 2 schedule of exploratory activities.