Africa-focused mining and exploration company Marula Mining’s Kenyan representative company has received a mineral dealer’s trading licence.
Valid until 31 December 2024 and renewable annually, this licence allows the company to buy, sell and export manganese ores.
The manganese ores to be bought under this licence will initially include the increased volumes from the Larisoro Manganese Mine, with the ores planned to be sold into the export markets under new offtake deals.
This development is pivotal for Marula as it aims to finalise its investment in the Larisoro Manganese Mine in Samburu County, Kenya.
The company is looking to boost production of high-grade manganese ores and tap into export markets.
Additionally, the licence enables Marula to purchase manganese ores from other mining entities in Kenya.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
This move is part of the company’s wider strategy to establish itself as a key player in the Kenyan manganese industry and also aligns with its growth plans within the sector.
The acquisition of the licence is expected to strengthen the company’s position in the market.
Marula CEO Jason Brewer said: “This is a significant milestone for us in Kenya as it allows us to move forward with our strategy in the manganese sector, not only at the Larisoro Manganese Mine but also at other prospective manganese mines and projects in Kenya.
“It also allows us to further cultivate and strengthen additional partnerships with the local mining sector and local communities. The grant of this licence enables us to engage in efficient manganese ore transactions, and manage the export and offtake arrangements with international counterparties.
“We are confident that it will not only propel our growth here but also contribute meaningfully to the economic development of the regions in which we operate in Kenya, where we are looking to expand our activities further.”
Last month, Marula announced that it would acquire a stake in the Larisoro Manganese Mine.
For this deal, Marula signed a binding terms sheet with Kenyan operator Gems and Industrial Minerals (GIM) for an initial 60% commercial interest in the mine.
