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Marula Mining PLC on Friday provided an update on its Kinusi copper mine in Tanzania, with preparations underway for sales of high-grade copper concentrates.
The London-based mining company with projects in South Africa, Kenya and Tanzania said its Chief Executive Officer Jason Brewer will visit the site next week alongside representatives from a European-based commodity trading group, Tanzanian logistics consultants, and independent laboratories.
During the visit, additional check samples of the ‘ready-for-sale’ copper concentrates will be taken as part of the ongoing grade verification process. Marula said its quality assurance and quality control procedures will also be reviewed, ensuring accuracy and reliability in the sampling and processing of the concentrates ahead of potential sales.
Representatives of the trading group, which is in discussions to purchase the copper, will also be present, as well as an unnamed ‘major’ regional logistics and haulage provider. The logistics firm will inspect current facilities and finalise transportation plans for moving the product from the mine to a bonded warehouse in Dar es Salaam, Tanzania.
Marula said further updates on the sale of Kinusi’s copper concentrates will be provided in due course.
Shares in Marula Mining were down 2.8% at 4.4 pence in London on Friday afternoon.
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