An exciting time for well positioned Tertiary Minerals in the new ‘gold rush’ for Zambian copper
“…the project can start to generate revenue for Tertiary even before production…”
There’s a new gold rush in South Africa. Not for bullion, but for copper – one of the critical battery metals essential for the EV economy.
The standout copper-friendly jurisdiction is Zambia where UK-listed Tertiary Minerals has several drill-ready projects and joint ventures with Silicon Valley investor-backed KoBold Metals, and more recently global copper company First Quantum Minerals.
Zambia has proven and plentiful copper deposits, and Tertiary Minerals’ founder and executive chairman Patrick Cheetham says there’s been several billion dollars invested into the copper mining industry recently and it’s being driven by the Zambian government.
So with many large copper deposit discoveries and the backing of the administration it’s no wonder there’s a land grab for the assets that have potential.
Tertiary Minerals in all its iterations is known for finding assets and the partners to build projects from grassroots level upwards.
The KoBold drilling campaign at the Konkola West Project is slow and steady as a new drill bit is put through its paces in a pioneering very deep drilling-to-target as it, Cheetham says, looks for deep extensions to what is one of the world’s great copper deposits.
Of equal importance is the partnership with First Quantum. It is the largest producer of copper in Zambia and an established producing neighbour, and Cheetham says the joint venture can be revenue generating for Tertiary even before production. “Within the joint venture terms, First Quantum have to pay us up to $2 million over the course of the three exploration phases.”
Like many executives in the junior mining space, Cheetham is perplexed about the company’s valuation. As he says to Sarah Lowther in this video, “Compared to our peer group which have similar projects in similar countries I think we do represent a good opportunity.”
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Read the company’s new August corporate presentation
Follow the company on X @Tertiaryplc
