UK-based Ecora Resources Ecora has entered into a $50 million copper streaming agreement with Moxico Resources’ Mimbula copper mine in Zambia. Moxico will use proceeds from the deal to implement Phase II expansion of the mine, increasing annual output from 14,000 tons in 2024 to 56,000 tons by mid-2026.
“Mimbula has everything we look for in an investment; it is a high-quality ore body, with low operating costs,” Marc Bishop Lafleche, CEO, Ecora Resources, adding that the deal strengthens Ecora’s copper portfolio across the short, medium and long term.
Mimbula has an estimated 11-year lifespan, with reserves projected at 76.4 million tons.
