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Chillerton advances Zambian copper-cobalt projects and signs ore offtake agreement

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Global Mining Review,

Chillerton, an emerging copper and cobalt development company, has become one of the largest license holders in the Zambian Copperbelt following the award of a further three large scale mining (LSM) licences in July 2021. The company’s licenses now cover in excess of 20 000 ha. and are located adjacent to existing producing copper mines. The location benefits from good access to existing infrastructure.

Chillerton has also signed an ore offtake and royalty agreement with Rudra Copper, a local plant operator in the Copperbelt which will allow the company to sell up to 3.5 million t of tailings ore across five years, commencing in 2Q22.

These transactions will enable significant growth for Chillerton, allowing it to focus on the development of the feasibility study on the Kakosa North and South ore bodies as well as commencing regional exploration programmes on its new and prospective licences.

Karan Rathi, CEO of Chillerton, said: “I am very pleased with the tremendous progress the group has made. These deals are not just a recognition of our history and experience in Zambia, but underline our track record of making a difference.

“With copper set to drive a future of electric vehicles, the consumption of the mineral is expected to jump tenfold by 2050.

“Chillerton’s goal is to create a critical metal powerhouse that not only generates growth and job opportunities in Zambia, but makes a real social impact through forging strong local partnerships and investment in the communities in which it operates.”

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African mining news Copper mining news