Business
New Zambia Data Package for Mineral Exploration
New Zambia Data Package for Mineral Exploration.
About this update from Getech Group Plc
[{"type":"text","content":"\n\n24 July 2024\n\nGetech Group plc\n(\"Getech\" or the \"Company\")\nGetech Announces New Zambia Data Package for Mineral Exploration\nGetech, a world-leading locator of subsurface resources, is pleased to announce the launch of a comprehensive data package in support of mineral exploration in Zambia. The launch of the data package, is in response to commercial requests and follows the Zambian government's decision to rationalise exploration licenses throughout the country and is designed to support companies looking to apply for new licenses in order to explore Zambia's mineral rich subsurface.\nThrough its integrated geological and geophysical data, the package enables innovative exploration techniques, streamlines mineral location workflows and provides a competitive edge to companies exploring for mineral resources across Zambia. Leveraging Getech's geoscience and subsurface expertise, as well as best-in-class geophysical and geological data, the data package is an invaluable resource for companies aiming to capitalise on new mining opportunities across Zambia.\nRichard Bennett, CEO at Getech, commented:\n\"Zambia still holds enormous potential for future significant discoveries of critical minerals that are vital for the energy transition. The new government led by His Excellency President Hakainde Hichilema, is creating a fresh business environment for international investors to develop the sector. This includes a key aim of growing the country's annual copper production from 770,000 metric tonnes (mt) in 2022 to 3mn (mt) by 2030. Getech's data package will help accelerate identifying areas of interest, making it an essential prerequisite for any mining company looking to acquire mining licences in Zambia.\"\nBackground\nThe Zambian Mining Licensing Committee recently announced the cancellation of 2,605 licenses due to non-compliance with the conditions of grant for mining and non-mining rights. Rights holders had until 1 May 2024 to appeal. Following the review of appeals, these cancellations are expected to take effect, making the licenses available for new applications. This initiative is part of the government's ongoing efforts to streamline the mining sector and ensure compliance with regulatory standards, creating new opportunities for companies to acquire exploration rights in some of the country's most promi...