London-listed Tertiary Minerals has signed a technical co-operation agreement with First Quantum Minerals to speed up the development of copper projects in Zambia.
The agreement covers Third Minerals' Mukai and Mushima North projects in Zambia's North-West Province, directly adjacent to First Quantum's Trident project, which includes the massive Sentinel copper mine and the recently opened Enterprise nickel mine.
The Mushima North exploration license is located in the Kasempa area and is also located in First Quantum's active exploration area.
First Quantum's operations in Zambia produced 435,000 tons of copper and 128,000 ounces of gold in 2021, and the company recently approved a $1.25 billion expansion of its Kansanshi copper mine.
First Quantum has also approved an additional $100 million investment in Zambia's Enterprise Nickel project, which is expected to begin production in 2023. Once operational, it will produce 30,000 tonnes of nickel concentrate annually.
