High grade copper sales due to start this month6 Mar 2025 03:30
in case anyone isn't aware. marula are a 75% jv partner with the original kinusi copper mine owner takela mining who were an artisanal miner mining small quantities of high grade copper.
"the sales agreement is one of four such agreements that the company and its local partner takela mining tanzania limited ("takela") are currently finalising for copper ore trial shipments and sales of up to an initial 1,000t to these european-based global commodity trading groups. these negotiations are at an advanced stage given the recent copper assay results of mined, processed and already bagged saleable copper concentrates at kinusi that confirmed average copper grades in excess of 20%."
this 1,000t sale of 20% copper concentrate comes from pit4, one of the highest grade zones of the kinusi mine. the high grade ore is removed by hand drill and sorted then bagged, assayed then transported to a warehouse where they receive 90% of the revenue.
a larger bulk mining operation will commence later. bulk mining requires a processing plant because the nature of bulk mining involves diggers and blasting which means the ore mined is not hand sorted and will have a lower average grade.
"subject to the successful delivery of this initial sale to the european-based global commodity trading group, the sales agreement also includes further monthly deliveries to them of up to 1,000t on the same key commercial terms. these deliveries represent approximately 50% of the planned monthly production of 2,000t of copper concentrates from the phase 1, gravity concentrate, co**** jigging and fines dewatering circuit anticipated to be commissioned later this quarter at kinusi."
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