Ecora Resources has signed a $50 million streaming agreement with Moxico Resources for the Mimbula copper mine in Zambia, which aims to boost production from 14,000 tons in 2024 to 56,000 tons by 2026. This deal is expected to enhance Ecora’s copper portfolio significantly.
Ecora Resources, a company based in the United Kingdom, has recently secured a $50 million copper streaming agreement with Moxico Resources for the Mimbula copper mine located in Zambia. The funds from this agreement will be allocated towards the Phase II expansion of the mine, which is projected to enhance the annual copper output from 14,000 tons in 2024 to 56,000 tons by the middle of 2026.
Marc Bishop Lafleche, CEO of Ecora Resources, expressed confidence in the investment stating, “Mimbula has everything we look for in an investment; it is a high-quality ore body, with low operating costs.” He emphasized that this deal significantly strengthens Ecora’s copper portfolio across various time frames. The Mimbula mine is expected to have an operational lifespan of approximately eleven years with estimated reserves of 76.4 million tons.
Furthermore, the upcoming African Mining Week, a key event for the exploration of mining opportunities across the African continent, will occur in conjunction with the African Energy Week: Invest in African Energies 2025 conference. This event is set to take place from October 1 to October 3 in Cape Town. Interested sponsors, exhibitors, and delegates can acquire further information by reaching out via email at sales@energycapitalpower.com.
In summary, Ecora Resources has established a substantial investment with Moxico Resources to enhance copper production in Zambia, indicating a strong commitment to increasing the copper supply chain. The partnership not only supports the expansion of the Mimbula mine but also aligns with Ecora’s strategic growth objectives in the mining sector. The simultaneous hosting of African Mining Week and the African Energy Week underscores the growing interconnection between mining and energy sectors in Africa.
Original Source: energycapitalpower.com
