Latest news with #TerraMetalsInc.
Yahoo
8 hours ago
- Business
- Yahoo
Terra Metals Inc. and Lunda Resources Confirm 96.5% Copper Recovery and Solar-Powered Green Production at Kalaba Project
CHARLOTTE, N.C. and LUSAKA, Zambia, June 09, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc., in partnership with its Zambian subsidiary Lunda Resources Ltd., is proud to announce a major metallurgical breakthrough at the Kalaba Copper Project in Northwestern Zambia. Independent testing conducted by Dr. Yotamu Hara of YCS Sustainable Solutions Ltd. confirms flotation recoveries exceeding 96.5%, with concentrate grades of 26.91% Cu—a remarkable result for oxide-dominant ore. Technical Highlights: 96.52% cumulative copper recovery using flotation (see p. 30 of Hara Report), with sulphide concentrates at 26.91% Cu and oxide concentrates at 4.31% Cu. Flotation made possible through advanced chemistry, particularly the use of CMC depressants to manage high talc content (up to 54%), previously considered a major processing barrier. The ore's upgrade potential allows for low-cost leaching via solvent extraction, positioning Kalaba among Africa's lowest-cost green copper producers. An NI 43-101-compliant resource estimate is expected to be released before the end of July 2025. A Model for Green Critical Minerals: Full environmental clearance has been granted by ZEMA (Zambia Environmental Management Agency). A 5 MW solar energy facility has been completed and approved, with plans to expand to 100 MW—enabling carbon-neutral production of copper and cobalt. Terra Metals and its partners will become Zambia's first large-scale producers of green critical metals, powered almost entirely by solar energy. Traditional & Community Support: Terra Metals acknowledges the tremendous support of His Royal Highness Senior Chief Sailunga and Chief Ntambu of the Lunda people. Their leadership and collaboration have played a vital role in advancing the Kalaba Project with integrity and respect for local communities. Regional Upside: In addition to Kalaba, the company holds a large-scale exploration license through Central Africa Renewable Energy, covering a prospective copper-cobalt zone immediately south of Ivanhoe's world-class Kamoa-Kakula Mine in the DRC Copperbelt. Chairman's Statement: 'This isn't just a technical success—it's a declaration that Zambia can lead in responsible, solar-powered production of the world's most critical minerals. Kalaba is proof that innovation, sustainability, and community partnership can deliver real value.'— Mumena Mushinge, Chairman, Terra Metals Inc. and Lunda Resources. Next Milestones: NI 43-101 Report expected before July 31, 2025 240TPH concentrator commissioning in September 2025 Solar expansion to 100 MW Phase 2 exploration and geophysics at DRC-bordering tenement ⸻ ABOUT TERRA METALS INC. Terra Metals Inc. is a Delaware-based mineral development company focused on securing high-impact, ESG- compliant critical mineral assets across Africa for delivery to U.S. and allied markets. MEDIA CONTACTS:Terra Metals IR@ +1 (980) 349-3883Website: Construction of 240 TPH Flotation Plant at Kalaba Mine A photo accompanying this announcement is available at:
Business Upturn
28-05-2025
- Business
- Business Upturn
Terra Metals Inc. and Metalex Commodities Seal $100M Critical Minerals Deal; Lunda Resources to Commission 240 TPH Copper-Cobalt Plant by September 2025
By GlobeNewswire Published on May 28, 2025, 21:15 IST CHARLOTTE, N.C. and LUSAKA, Zambia, May 28, 2025 (GLOBE NEWSWIRE) — Terra Metals Inc., a U.S.-based critical minerals development company, and Metalex Commodities, a global energy and resources investment firm, have concluded final negotiations to establish Lunda Resources, a new copper and cobalt production powerhouse in Zambia. The agreement, which includes a $100 million initial funding commitment, will be signed next month at the U.S. Embassy in Lusaka, underscoring the strategic alignment with U.S. government priorities on critical mineral security. The signing will highlight the strengthening U.S.-Africa cooperation in the clean energy transition and will serve as a major diplomatic and commercial milestone for the region's mining sector. Leadership and Strategic Vision Under the agreement, Mumena Mushinge, Chairman of Terra Metals Inc., will serve as Chairman of Lunda Resources, with Ayo Sopitan, CEO of Metalex Commodities, appointed as Chief Executive Officer. Terra's Executive Director Brian Chisala also joins the leadership team, reinforcing the cross-continental expertise of the venture. Project Milestone: 240 TPH Concentrator Construction is already underway on a 240-ton-per-hour copper and cobalt concentrator in Zambia. Targeted for commissioning in September 2025, the facility will process high-grade ores to supply strategic end-markets, including the United States, through the Lobito Railway Corridor, offering a direct logistics route to Atlantic ports. 'This partnership is a leap forward for Zambia's mining sector and a cornerstone of U.S.-Africa industrial alignment,' said Mumena Mushinge, Chairman of Terra Metals Inc. and Lunda Resources. 'We're building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future.' Stage One Financing: $100 Million Committed Metalex Commodities has pledged to raise $100 million over the next nine months, which will be directed toward: Final plant commissioningLogistics and export infrastructure Community inclusion programs and ESG compliance Terra Metals Inc. Expands Capital Access via WOGC In a parallel development, Terra Metals Inc. also signed a Share Purchase Agreement with Waskahigan Oil and Gas Corp. (WOGC), a Canadian-listed company. This transaction gives Terra direct access to public capital markets in North America and opens the door for institutional investors to participate in the Lunda Resources growth story. U.S. Government Support and Global Strategic Relevance The decision to hold the official signing ceremony at the U.S. Embassy in Lusaka reflects Washington's growing focus on supply chain security for critical minerals, particularly those essential to electric vehicles, renewable energy, and energy storage systems. This project complements the U.S. Department of State's Mineral Security Partnership (MSP) goals and positions Zambia as a pivotal player in global mineral flows. Media Assets and Press Kit High-resolution images and video clips from the construction site, leadership meetings, and plant equipment have been released as part of the Lunda Resources press kit, available on request or via Terra Metals' media center. ABOUT TERRA METALS INC. Terra Metals Inc. is a Delaware-based mineral development company focused on securing high-impact, ESG-compliant critical mineral assets across Africa for delivery to U.S. and allied markets. ABOUT METALEX COMMODITIES Metalex Is a US based mining and metal commodity trading company with operations in Nigeria and Zambia, active in zinc, lithium, manganese, copper and cobalt. MEDIA CONTACTS:Terra Metals Inc. Email: IR @ Phone: +1 (980) 349-3883 Website: Brian Chisala (Left) – Mumena Mushinge (Middle) – Ayo Sopitan (Right) A photo accompanying this announcement is available at A video accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
28-05-2025
- Business
- Yahoo
Terra Metals Inc. and Metalex Commodities Seal $100M Critical Minerals Deal; Lunda Resources to Commission 240 TPH Copper-Cobalt Plant by September 2025
CHARLOTTE, N.C. and LUSAKA, Zambia, May 28, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc., a U.S.-based critical minerals development company, and Metalex Commodities, a global energy and resources investment firm, have concluded final negotiations to establish Lunda Resources, a new copper and cobalt production powerhouse in Zambia. The agreement, which includes a $100 million initial funding commitment, will be signed next month at the U.S. Embassy in Lusaka, underscoring the strategic alignment with U.S. government priorities on critical mineral security. The signing will highlight the strengthening U.S.-Africa cooperation in the clean energy transition and will serve as a major diplomatic and commercial milestone for the region's mining sector. Leadership and Strategic Vision Under the agreement, Mumena Mushinge, Chairman of Terra Metals Inc., will serve as Chairman of Lunda Resources, with Ayo Sopitan, CEO of Metalex Commodities, appointed as Chief Executive Officer. Terra's Executive Director Brian Chisala also joins the leadership team, reinforcing the cross-continental expertise of the venture. Project Milestone: 240 TPH Concentrator Construction is already underway on a 240-ton-per-hour copper and cobalt concentrator in Zambia. Targeted for commissioning in September 2025, the facility will process high-grade ores to supply strategic end-markets, including the United States, through the Lobito Railway Corridor, offering a direct logistics route to Atlantic ports. 'This partnership is a leap forward for Zambia's mining sector and a cornerstone of U.S.-Africa industrial alignment,' said Mumena Mushinge, Chairman of Terra Metals Inc. and Lunda Resources. 'We're building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future.' Stage One Financing: $100 Million Committed Metalex Commodities has pledged to raise $100 million over the next nine months, which will be directed toward: Final plant commissioningLogistics and export infrastructureCommunity inclusion programs and ESG compliance Terra Metals Inc. Expands Capital Access via WOGC In a parallel development, Terra Metals Inc. also signed a Share Purchase Agreement with Waskahigan Oil and Gas Corp. (WOGC), a Canadian-listed company. This transaction gives Terra direct access to public capital markets in North America and opens the door for institutional investors to participate in the Lunda Resources growth story. U.S. Government Support and Global Strategic Relevance The decision to hold the official signing ceremony at the U.S. Embassy in Lusaka reflects Washington's growing focus on supply chain security for critical minerals, particularly those essential to electric vehicles, renewable energy, and energy storage systems. This project complements the U.S. Department of State's Mineral Security Partnership (MSP) goals and positions Zambia as a pivotal player in global mineral flows. Media Assets and Press Kit High-resolution images and video clips from the construction site, leadership meetings, and plant equipment have been released as part of the Lunda Resources press kit, available on request or via Terra Metals' media center. ABOUT TERRA METALS INC. Terra Metals Inc. is a Delaware-based mineral development company focused on securing high-impact, ESG-compliant critical mineral assets across Africa for delivery to U.S. and allied markets. ABOUT METALEX COMMODITIES Metalex Is a US based mining and metal commodity trading company with operations in Nigeria and Zambia, active in zinc, lithium, manganese, copper and cobalt. MEDIA CONTACTS:Terra Metals IR@ +1 (980) 349-3883Website: Chisala (Left) - Mumena Mushinge (Middle) - Ayo Sopitan (Right) A photo accompanying this announcement is available at A video accompanying this announcement is available at
