Marula Mining PLC has completed legal, financial, and technical due diligence on its planned acquisition of a 60 percent interest in Bamba Mining Company Limited, which owns the Bamba Manganese Mining Project in Kilifi County.
The company’s board of directors said the review confirmed the project’s strategic importance and long-term value, paving the way for the preparation of formal joint venture agreements. These will include governance structures, operating budgets, profit-sharing mechanisms, and reporting frameworks.
“Our board is satisfied that the due diligence work undertaken confirms the project’s potential and its importance to our growth strategy,” read a statement from Marula Mining.
“We are now moving to the next stage, which will see us finalize all necessary agreements and establish an operations committee to oversee the project’s development.” The statement read further.
As part of the acquisition, Marula has committed to funding a 12-month exploration and development program. The program aims to establish large-scale commercial manganese mining and integrate operations at Bamba into the company’s wider manganese activities, including its nearby Kilifi Manganese processing facility.
“This acquisition represents not just an investment, but a long-term partnership to unlock the value of Kenya’s manganese resources,” the statement added.
“Our goal is to deliver economic benefits locally while strengthening our position in the global manganese market.” the company further noted.
