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Mimosa Resources has attracted US$3 million of investment for its Kashime copper mine project near Mkushi.
The funding has ignited final feasibility studies and preparatory development at the mine in Central Province. Mimosa’s mission is to build a mining champion delivering value to stakeholders while supporting the development of local mining skills, business opportunities and community projects
The company has an earn-in arrangement on the Kashime mining licence through its previously announced Kashime Development Agreement with First Quantum Minerals (FQM).
Mimosa Executive Chairman Jordan Soko said: “Zeta’s initial US$3 million investment in Mimosa demonstrates its confidence in the project, the company, and its local expertise.”
“Zeta has followed Mimosa’s progress for a while, and this is its first investment in Zambia. The development of the Kashime mine and processing complex will have wider developmental benefits for the communities around the mine, Mkushi town and the country as it contributes to the national aspiration of 3 million tonnes of copper production per year in the medium term.”
Mimosa also seeks to be a catalyst for the development of other Zambian-owned mining opportunities through commercial arrangements that leverage Mimosa’s capabilities, partnerships, and investor base, either on a standalone basis or as a link into Mimosa’s mining value chain.
“We hope to be able to announce further progress in this regard in the near future,” added Soko.
