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A seismic shift is underway in Zambia’s mineral-rich landscape, as US-based critical minerals developer Terra Metals and resource investment firm Metalex Commodities ink a deal to create what they boldly term a “new copper and cobalt production powerhouse.” The strategic partnership, dubbed Lunda Resources, is poised to reshape the global supply chain for these vital commodities, with a keen eye on bolstering US critical mineral security.
The significance of this venture was underscored by the anticipated signing ceremony at the US Embassy in Lusaka this week, a diplomatic nod that aligns squarely with Washington’s burgeoning focus on securing its access to minerals crucial for the global clean energy transition. The event is set to highlight a strengthening US-Africa cooperation, marking a major commercial and diplomatic milestone for the region’s burgeoning mining sector.
Terra Metals, a Delaware-registered entity, brings to the table its significant mining and exploration assets in Zambia’s Kabompo Dome. This promising area lies approximately 129 km west of First Quantum Minerals’ renowned Sentinel and Kalumbila mines, and 177 km west of Barrick’s Lumwana operation, positioning Lunda Resources in a prolific copper-cobalt belt.
Its partner, Metalex, also US-based, boasts established trading operations in Nigeria and Zambia, with a strong focus on a range of critical minerals including lithium, manganese, and of course, copper and cobalt. This combination of exploration expertise and trading prowess sets the stage for a vertically integrated operation.
Lunda Resources’ ambitious plans include commissioning a 240-tonne-per-hour copper and cobalt concentrator. This facility will process high-grade ores, specifically targeting strategic end-markets, notably the United States, via the increasingly vital Lobito Railway Corridor. The Lobito Corridor, a transatlantic link from Angola’s Atlantic coast into the heart of Zambia and the Democratic Republic of Congo, is emerging as a critical alternative to traditional routes for transporting central African minerals.
Construction of the concentrator is already underway, with Terra Metals targeting a September 2025 commissioning date. To fuel this significant undertaking, Metalex has committed a substantial $100 million in funding, signalling serious intent behind the new venture.
Mumena Mushinge, who will chair the newly formed Lunda Resources, and also serves as chairman of Terra Metals, expressed profound optimism about the partnership’s implications. “This partnership is a leap forward for Zambia’s mining sector and a cornerstone of US-Africa industrial alignment,” Mushinge stated.
He further articulated the broader vision: “We’re building the infrastructure, governance, and funding mechanisms to responsibly extract and deliver the minerals that power the global clean energy future.” His words resonate with a growing global demand for ethically sourced critical minerals, crucial for everything from electric vehicles to renewable energy technologies.
The collaboration represents more than just a commercial deal; it’s a strategic pivot in the race for critical minerals, with Zambia emerging as a key player in a new chapter of US-Africa economic diplomacy. As the world accelerates its shift towards green technologies, the creation of Lunda Resources underscores the continent’s pivotal role in supplying the raw materials that will drive this global transformation.
