【Ferro-alloys.com】:Marula, a British mining company, will invest in a manganese operation in Kenya.

Last month, the British mining company Marula signed a memorandum of understanding and acquired a60% stake in local firm Gems and Industrial Minerals Ltd (GIM) for 300,000 euros from Samburu through cash and a takeover of the firm.

Marula was allocated 2.4 million shares in GIM. This signing is also estimated to trigger Marula's investment of 1.5 million euros for new ore handling, crushing, screening and processing equipment at the Laisoro mine. Marula has been granted a Kenyan trading license to pave the way for the commercial exploitation of manganese ore at its acquired operation.

GIM has been granted a license by the London Stock Exchange to commercially exploit the ore, which is valid until the end of 2024 and must be renewed annually.

The manganese ores to be purchased by Marula under the license include manganese ore initially mined and processed from the Larisoro Manganese mine, with increasing volumes planned. These purchased manganese ores will then be sold by Marula to export markets under new purchase agreements.

"The granting of this license allows us to conduct efficient manganese ore transactions and manage export and purchase arrangements with international counterparties," said Jason Brewer, CEO of Marula Mining.

"We are confident that this will not only accelerate our growth here, but also contribute meaningfully to the economic development of the regions in Kenya where we operate as we look to further expand our operations.

• [Editor:Alakay]