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Highlights:
- Prospect Resources secures large-scale mining licenses for the Mumbezhi copper project in Zambia, ensuring long-term operational rights.
- The project aligns with Zambia’s objectives to expand copper production in the coming years.
- Ongoing exploration and resource expansion efforts aim to enhance the project's contribution to the mining sector.
Prospect Resources (ASX:PSC) has secured large-scale mining licenses for the Mumbezhi copper project, a significant step in advancing its exploration and development initiatives in Zambia’s copper belt. These licenses, granted for an extended period, authorize full-scale mining, processing, and export activities, ensuring stability for future operations. The licensing framework allows for renewals, providing long-term tenure security.
Alignment with Zambia’s Copper Expansion Strategy
The project has reported a substantial mineral resource, reinforcing its role in Zambia’s broader efforts to expand copper output. With the nation’s plans to increase production levels in the coming years, Mumbezhi is positioned to contribute to this growth. The strengthened licensing status reinforces its presence within the region, supporting broader economic and industrial objectives.
Exploration and Resource Expansion Efforts
With licensing in place, exploration activities are set to continue across key targets within the project area. The Nyungu Corridor has been identified as a priority, with advanced geophysical and geochemical studies planned to refine resource definition. These efforts aim to enhance the understanding of mineralization across the broader landholding.
Pathway to Further Development
As technical assessments progress, groundwork is being laid for scoping studies to evaluate development options. Drilling activities are expected to resume, supporting resource expansion and future project planning. By leveraging geological insights and exploration data, the company is working towards advancing the Mumbezhi project within Zambia’s mining landscape.
