Marula Mining PLC - Haywards Heath, England-based mining investor - Appoints exploration and mining service company Geofi­elds Tanzania Ltd to start copper exploration work at the Kinusi Copper project in Tanzania. Expects work to start next month. The appointment follows the commencement of exploration activities by Geofi­elds Tanzania at the Bagamoyo Graphite project earlier this month.

Marula Mining has a 49% commercial interest from local Tanzanian company Takela Mining Tanzania Ltd in 10 granted copper mining licenses at Kinusi. "All samples from the planned exploration work will be sent for analyses in Tanzania with initial results expected in the second quarter this year," it adds.

Chief Executive Officer Jason Brewer says: "Kicking off these initial activities at the Kinusi mine only reaffirms our belief in the potential to develop a low-cost copper mining operation with sales of copper concentrates to the international markets. We believe that Kinusi has the potential to be the company's second operating mine in 2023 and we look forward to working with the Takela team in making it a success."

Current stock price: 5.78 pence each

12-month change: up from 2.5p on July 4

By Xindi Wei, Alliance News reporter

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