Marula Mining, an Africa-focused mining and development company, has signed commercial agreements with Takela Mining Tanzania on the Kinusi copper project and the Nyorinyori graphite project, as well as with Kusini Gateway Industrial Park (KGIP) on the Bagamoyo graphite project.
These commercial agreements replace the binding heads of agreement with Takela announced on 4 October and 20 February 2022 for the 75% commercial interest in Kinusi, and on 17 February 2022 for the 75% commercial interest in Nyorinyori, as well as the binding heads of agreement with KGIP announced on 30 November 2022, for the 73% interest in Bagamoyo.
The commercial agreements were signed on the same commercial terms, conditions, and obligations as those previously agreed upon in the binding term sheets signed by the parties.
“We are excited to continue the advancement of Kinusi, Nyorinyori and Bagamoyo and it is pleasing to see what we have achieved at these projects in recent months. I look forward to updating our shareholders and stakeholders alike, on our progress on the projects,” said Marula chief executive Jason Brewer.
“Marula continues to grow its assets and further expand its footprint in the critical metals sector, outlining our commitment to supporting the global transition to clean energy. Tanzania is an exciting jurisdiction to be working in, and we are extremely pleased to be working alongside both Takela and KGIP.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
These commercial agreements replace the binding heads of agreement with Takela announced on 4 October and 20 February 2022 for the 75% commercial interest in Kinusi, and on 17 February 2022 for the 75% commercial interest in Nyorinyori, as well as the binding heads of agreement with KGIP announced on 30 November 2022, for the 73% interest in Bagamoyo.
The commercial agreements were signed on the same commercial terms, conditions, and obligations as those previously agreed upon in the binding term sheets signed by the parties.
“We are excited to continue the advancement of Kinusi, Nyorinyori and Bagamoyo and it is pleasing to see what we have achieved at these projects in recent months. I look forward to updating our shareholders and stakeholders alike, on our progress on the projects,” said Marula chief executive Jason Brewer.
“Marula continues to grow its assets and further expand its footprint in the critical metals sector, outlining our commitment to supporting the global transition to clean energy. Tanzania is an exciting jurisdiction to be working in, and we are extremely pleased to be working alongside both Takela and KGIP.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
