The agreement allows Marula to increase its ownership in the fully permitted Derdepoort facility to 70%. The project sits adjacent to the existing Tonto Tshipi manganese mine, where Marula previously secured a majority stake. This strategic proximity is intended to streamline operations and leverage shared infrastructure as the company scales its regional production. According to the company, the mine is currently operation-ready, potentially shortening the timeline to revenue generation.

Financial Terms and Production Targets

To finalize the initial stake, Marula will issue new shares worth £1 million to Infinity Resource Group and pay a cash fee upon completion of due diligence. The agreement includes a significant deferred consideration: Marula must pay an additional £9 million once a feasibility study is completed. This study is expected to outline a production target of 1 million metric tons of saleable manganese over an initial 10-year lifespan.

By integrating the Derdepoort site with its existing holdings, Marula aims to optimize resource extraction and logistical efficiency. The company stated that this acquisition of interest in the Tonto Tshipi Minerals special purpose vehicle is a key step in solidifying its competitive position within the South African manganese sector.