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…ore off-take agreement clinched
Chillerton, an emerging copper and cobalt development company, has become one of the largest license holders in the Copperbelt following the award of a further three large scale mining (LSM) licences in July 2021.
According to the company, the licenses cover in excess of 20,000 hectares and are located adjacent to existing copper mines.
“The location benefits from good access to existing infrastructure,” said the company.
Chillerton has also signed an ore off-take and royalty agreement with Rudra Copper, a plant operator in the Copperbelt which will allow the company to sell up to 3,500,000 tonnes of tailings ore across five years, commencing in second quarter of 2022.
Authorities at Chillerton said the transactions will enable significant growth for the company, 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.
“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,” said Karan Rathi, Chief Executive Officer of Chillerton.
He said Chillerton’s goal is to create a critical metal powerhouse that not only generates growth and job opportunities but makes a real social impact through forging strong local partnerships and investment in the communities in which it operates.
Meanwhile Chillerton’s ore offtake and royalty agreement with Rudra Copper will see the development of a new purpose built copper leach and SX-EW plant at the Kakosa site.
Rathi said the plant will initially focus on processing tailings and oxide ores producing copper cathode.
In addition, the plant is expected to be operational during the second quarter of 2022 with an initial capacity of around 35,000 tonnes of ore per month.
