Aim-listed Tertiary Minerals has highlighted the promise of its Konkola West copper project, in Zambia, thanks to its close proximity to the Bill Gates and Jeff Bezos-backed KoBold Metals’ Mingomba copper project, which has been in the news over the past few days following the proclamation that it will become one of the world's top three high-grade copper mines.
KoBold has reported plans to start producing copper at the $2-billion Mingomba project by the early 2030s, exploiting what it claims is the largest copper discovery in Zambia in more than a century.
This bodes well for Tertiary, since the Mingomba project is located only about 2 km northeast of the company’s Konkola West project, where KoBold has also signed a definitive earn-in agreement.
As announced on December 19, subject to government approvals, KoBold is planning to drill test the projected down dip extensions to the copper ore shale that hosts its new discovery. This same formation is also mined at the adjacent Konkola copper mine, where Vedanta is currently committed to investing about $1-billion to expand production.
Tertiary has noted that KoBold has committed to drilling at least two deep drill holes for at least 2 000 m of drilling at Konkola West in the coming months.