Ecora Resources has secured a $50 million streaming agreement with Moxico Resources for the Mimbula copper mine in Zambia. This investment will fund an expansion that is set to ramp up copper production substantially by mid-2026. The mine has an estimated lifespan of 11 years and is expected to significantly bolster Ecora’s copper portfolio.
Ecora Resources, a UK-based company, has finalized a $50 million copper streaming agreement with Moxico Resources for the Mimbula copper mine in Zambia. The funds will facilitate the Phase II expansion of the mine, boosting its annual copper production from 14,000 tons in 2024 to 56,000 tons by mid-2026. Marc Bishop Lafleche, CEO of Ecora Resources, emphasized the investment’s attractiveness due to Mimbula’s high-quality ore and low operating costs.
The Mimbula mine is anticipated to operate for an estimated 11 years, with reserves totaling approximately 76.4 million tons. This expansion is expected to enhance Ecora’s copper portfolio significantly over the short, medium, and long term, reinforcing the company’s commitment to investing in valuable mining resources.
Simultaneously, African Mining Week is scheduled to take place in Cape Town from October 1-3, alongside the African Energy Week: Invest in African Energies 2025 conference. This event serves as a significant platform for showcasing diverse mining opportunities in Africa. For sponsorship and exhibition inquiries, interested parties can reach out via [email protected].
Ecora Resources’ $50 million investment into the Mimbula copper mine signifies a strategic enhancement of its copper portfolio, poised to increase production significantly in the coming years. The mine’s reputable reserves and low operating costs make it a valuable asset for continued growth in the copper market. Additionally, the African Mining Week event offers further opportunities to explore mining advancements across the continent.
Original Source: energycapitalpower.com
