{"id":876,"date":"2023-11-02T02:14:02","date_gmt":"2023-11-02T02:14:02","guid":{"rendered":"https:\/\/economicherald.net\/?p=876"},"modified":"2023-11-02T02:14:02","modified_gmt":"2023-11-02T02:14:02","slug":"world-class-belararox-to-acquire-two-copper-projects-in-zambia-which-wants-to-increase-metals-output-three-fold","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=876","title":{"rendered":"World Class: Belararox to acquire two copper projects in Zambia, which wants to increase metals output three-fold"},"content":{"rendered":"<p>Belararox to purchase two copper exploration licenses in Zambia from Chemopharm<br \/>\nThere are five big copper mines within 175km of the exploration licenses<br \/>\nStudy of historical data underway to identify promising targets for initial exploration<\/p>\n<p>\u00a0<\/p>\n<p><strong>Belararox has inked a deal to acquire the Solwezi East and Chantente exploration licences, near some monster mines in the prolific Zambian Copperbelt province.<\/strong><\/p>\n<p>Mining is crucial to Zambia\u2019s GDP and responsible for roughly three-quarters of its export earnings.<\/p>\n<p>Zambia\u2019s President Hakainde Hichilema has set his sights on attracting new investors to the nation \u2013 which happens to already be Africa\u2019s second-largest copper producer \u2013 and aims to triple the output of metals such as copper that are key to the clean energy transition.<\/p>\n<p>Zambia already has several huge deposits near the border with the Democratic Republic of Congo \u2026<\/p>\n<p>First Quantum Minerals\u2019 823.8Mt @ 0.44% Cu Sentinel;<br \/>\nFirst Quantum Minerals\u2019 1,011.5Mt @ 0.65% Cu Kanshansi mines;<br \/>\nBarrick Gold\u2019s 1,920Mt @ 0.52% Cu Lumwana mine;<br \/>\nIvanhoe Mines 12.92 Mt @ 0.84% Kipushi mine;<br \/>\nVedanta Resources 368.8Mt @ 3.17% Cu Konkola mine;<\/p>\n<p>\u2026 which are all within 175km of <a href=\"https:\/\/stockhead.com.au\/company\/belararox-brx\/\">Belararox\u2019 (ASX:BRX)<\/a> new exploration ground.<\/p>\n<p>Copper deposits surrounding the Solwezi and Chantente exploration licenses. Pic supplied: (BRX)<\/p>\n<p>As part of BRX\u2019s ongoing technical due diligence, desktop studies and project planning are underway to validate the information from previous reports and to review copper targets.<\/p>\n<p>To complete the acquisition, <a href=\"https:\/\/stockhead.com.au\/company\/belararox-brx\/\"><strong>BRX<\/strong><\/a> will pay Chemopharm $100,000 in cash and issue shares giving it a 7.49% interest in the explorer.<\/p>\n<p>\u201cThis acquisition of the Solwezi East and Chantente projects present a unique opportunity to explore the Zambian Copperbelt and further diversify Belararox\u2019s portfolio of copper and base metals projects in world class metallogenic regions,\u201d BRX exploration director Jason Ward says.<\/p>\n<p>BRX MD Arvind Misra says the acquisitions enhance the company\u2019s existing copper project portfolio, consisting of the TMT copper project in Argentina and its Australian zinc-copper projects, \u201cproviding a strong value proposition for shareholders\u201d.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>An emerging tier copper hunter<\/strong><\/h2>\n<p><a href=\"https:\/\/stockhead.com.au\/resources\/argentinas-copper-sector-is-being-rebooted-and-belararox-tmt-project-is-right-in-the-thick-of-it\/\">BRX already has 11 highly prospective targets to explore<\/a> at its Toro-Malambo-Tambo (TMT) project in Argentina, which \u2013 like Zambia \u2013 want to rejuvenate its copper sector.<\/p>\n<p>The flagship TMT project is in the underexplored gap between the El Indo and Maricunga metallogenic belts, which host some monster deposits.<\/p>\n<p>They include Lundin Mining\u2019s $4.1 billion investment into the Josemaria mine and its Filo del Sol project which has hits of 1,338m @ 1.33% CuEq from 150m in the Maricunga belt to the north.<\/p>\n<p>To the south, Barrick Gold and Shandong own the 22Moz Au Pascua Lama and 6.1Moz Au Veladero gold mines along the El Indo belt.<\/p>\n<p>Ongoing fieldwork at the underexplored TMT is a big step forward on the way to a refining a maiden drilling program.<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Belararox, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/world-class-belararox-to-acquire-two-copper-projects-in-zambia-which-wants-to-increase-metals-output-three-fold\/\">World Class: Belararox to acquire two copper projects in Zambia, which wants to increase metals output three-fold<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Belararox to purchase two copper exploration licenses in Zambia from Chemopharm There are five big copper mines within 175km of the exploration licenses Study of <a href=\"https:\/\/economicherald.net\/?p=876\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":877,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-876","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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