Ecora Resources has entered into a $50 million streaming deal with Moxico Resources for the Mimbula mine in Zambia, aiming to increase copper production from 14,000 tons to 56,000 tons by 2026. The mine has an estimated lifespan of 11 years with reserves of 76.4 million tons. African Mining Week is set to occur alongside the African Energy Week, providing a platform for mining discussions.
Ecora Resources, based in the UK, has secured a $50 million copper streaming agreement with Moxico Resources for the Mimbula copper mine in Zambia. This investment will enable Moxico to pursue Phase II expansion, which aims to boost production from 14,000 tons in 2024 to 56,000 tons by mid-2026. Ecora’s CEO, Marc Bishop Lafleche, emphasized the quality and low operating costs of Mimbula as pivotal for their investment strategy, enhancing Ecora’s copper portfolio in the short, medium, and long term.
The Mimbula mine is projected to have an operational lifespan of 11 years, with mineral reserves estimated at 76.4 million tons. This significant quantity of reserves highlights the mine’s strategic importance within the region and the potential for scalable operations. The funding derived from the agreement will be critical for capitalizing on the mine’s growth potential.
In related news, African Mining Week will take place concurrently with the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. This premier event is known for showcasing diverse mining opportunities throughout Africa, providing a platform for professionals to engage and learn. Interested parties can reach out via [email protected] for inquiries.
The $50 million streaming agreement between Ecora Resources and Moxico Resources marks a significant investment in the Mimbula copper mine, aimed at substantial production expansion over the next few years. This partnership underscores Ecora’s commitment to enhancing its copper portfolio while addressing industry growth through strategic funding. The upcoming African Mining Week also emphasizes the importance of mining opportunities across the continent.
Original Source: energycapitalpower.com
