Production
Mimbula Copper Royalty
Trident owns a 1.25% Gross Revenue Royalty (“GRR”) over all copper produced from the Mimbula Mine in Zambia, which is operated by Moxico Resources Plc.
Production
Trident owns a 1.25% Gross Revenue Royalty (“GRR”) over all copper produced from the Mimbula Mine in Zambia, which is operated by Moxico Resources Plc.
Moxico Resources successfully raised US$73M in equity in June 2021 in order to fast-track the construction of a standalone processing centre at Mimbula capable of producing 30,000kta of copper.
The GRR will decrease to 0.3% upon US$5.0 million being paid on the royalty, with a subsequent decrease to 0.2% once the royalty has been paid on 575,000 tonnes of copper. In addition, the GRR is subject to a Minimum Payment Schedule in which the higher of the minimum amount, or the Gross Revenue Royalty amount, are due; specifically:
• Minimum payments of US$375,000 per quarter in 2021;
• Minimum payments of US$500,000 per quarter in 2022; and
• Minimum payments of US$750,000 in each of the first two quarters of 2023
Location | Zambia |
---|---|
Operator | Moxico Resources Plc (Private) |
Commodity | Copper |
Mine Type | Open Pit |
Stage | Production |
Measured | 51.7Mt @ 1.0%TCu |
---|---|
Indicated | 25.4Mt @ 0.91%TCu |
Inferred | 16.7M @ 0.95%TCu |
Total | 93.7Mt @ 0.97%TCu |
Proven and Probable | 67.5Mt @ 0.92% TCu |
---|
Source: Moxico Resources Plc (August 2019) Mimbula Resources are JORC (2012) compliant, While Zuka Resource is non-compliant. See announcement dated 29 June 2020 for resource breakdown.