Marula Mining Advances Offtake and Marketing Arrangements for Blesberg Project

Key Developments in Offtake Agreement

Marula Mining, a company focused on mining and development in Africa, is progressing in its negotiations for a long-term offtake and marketing agreement for lithium products from its Blesberg Lithium and Tantalum Mine. The company expects to finalize an exclusive agreement with a prominent European global commodity trading group for 100% of the saleable lithium production from Blesberg in early Q1 2024.

Agreement Highlights

• The offtake agreement, still under finalization, covers all spodumene, carbonate, and other lithium products from Blesberg.
• Marula initially aimed to sign the agreement by the end of 2023 but has shifted the timeline to January 2024, aligning with the completion of new processing facilities at Blesberg.
• Commercial sales are expected to commence shortly after the agreement is signed, with the company having approximately six months’ worth of stockpiled feed for the new processing facilities.
• The first saleable product under the agreement is anticipated to be available early in Q1 2024.

CEO's Statement

Jason Brewer, CEO of Marula Mining, expressed optimism about the upcoming offtake and marketing arrangements for Blesberg, emphasizing the project's significance in the green transition. He highlighted the careful and responsible negotiation of the agreement, benefiting shareholders and end-users alike. Updates on the finalization of the Agreement and progress at Blesberg and other portfolio projects are forthcoming.