Trident Royalties announces update to Mimbula Copper Royalty and project operator Moxico Resources

Fri, 11th Jun 2021

Moxico has recently completed a $73 million equity financing round to be used to fast track the development of the Mimbula copper mine operation in Zambia. Copper production involves processing ore from Mimbula stockpiles via toll treatment at KCM Tailings Leach Plant, located nearby. Moxico plans to accelerate production by initiating construction on a self-operated solvent extraction and electrowinning processing facility in order to produce copy at an annual rate of 30,000 tonnes by late 2022. Adam Davidson, Chief Executive Officer of Trident commented: ‘We are incredibly pleased to see such a significant development for a key asset within Trident's royalty portfolio. The financing conducted by Moxico to materially expand copper production at the Mimbula copper mine underscores the value of acquiring royalties over quality assets being advanced by experienced management teams. The Mimbula Copper Royalty provides Trident's investors with long-life copper exposure - a key base and battery metal - from an operating asset with further upside potential located in a prolific copper district.’ The financing round outlines royalties as importance financial instruments. Story provided by StockMarketWire.com

FTSE 100 Latest
Value7,083.41
Change21.12