Tertiary Minerals plc has completed all conditions precedent for its Zambia copper joint venture agreement and taken majority ownership of the new company Copernicus Minerals Ltd. STRUCTURE The February 2024 agreement with local partner Mwashia Resources Ltd covers the Jacks, Mukai and Mushima North exploration licences. Mwashia will own 10% of Copernicus while Tertiary’s 96% […]
Tag: Zambia
Tertiary to own 90% of Zambia copper assets in new JV
Tertiary Minerals plc will control 90% of its Zambia copper projects under a signed new joint venture agreement with its local partner. STRUCTURE The deal covers the Jacks, Mukai and Mushima North exploration licences currently 100% held by partner Mwashia Resources Ltd. The agreement results in a new Zambian company (Newco) of which Tertiary’s 96% […]
Tertiary to start Mukai and Mushima North exploration
Tertiary Minerals plc has received its delayed permits for soil sampling in the forest areas within Mukai and Mushima North copper licences in Zambia. TARGETS Target C1 in Mushima North showed a wide, low-grade intersection of copper mineralisation from recent resampling of core from drill hole RKN800, and sits on the margin of a gravity […]
Tertiary prepares for exploration after losses double
Tertiary Minerals plc reported £1 million losses including the impairment for the Pyramid project as the company looks to further exploration next year in the USA and Zambia. FINANCES The company holds early stage assets in Zambia where it completed its first full year of exploration, and Nevada in the USA as well as legacy […]
Tertiary to exercise Zambia copper option
Tertiary Minerals plc announced it will exercise its option to acquire up to a 90% joint venture interest in the four additional large copper exploration licences in Zambia. EXPLORATION The company’s 96% owned local subsidiary, Luangwa Minerals Ltd will enter into agreements to acquire the licences held by Mwashia Resources Ltd. These include 27065-HQ-LEL (Lubuila), […]
Tertiary signs option for JV copper licences in Zambia
Tertiary Minerals plc has entered into an option agreement to acquire up to a 90% joint venture (JV) interest in five copper exploration licences covering 1,500 km2 in Zambia. PROSPECT The company’s 96% recently incorporated subsidiary Luangwa Minerals Ltd, secured the agreement with Mwashia Resources Ltd. The deal covers exploration licence 27069-HQ-LEL (Jack’s licence) and […]