Terra Metals and Metalex Commodities Launch Joint Venture to Develop Mwinilunga Copper Mine

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[{"type":"heading","content":"Terra Metals Inc & Metalex Signing Ceremony of $100M Agreement in Zambia with Zambian Mines Minister Paul Kabuswe and US Ambassador to Zambia Micheal Gonzales.","length":163,"tagName":"h5","attribs":{}},{"type":"text","content":"CHARLOTTE, N.C. and LUSAKA, Zambia, June 20, 2025 (GLOBE NEWSWIRE) -- Terra Metals Limited, a Zambian-owned mining company, today announced the formation of a landmark joint venture with U.S.-based Metalex Commodities Inc. to develop and operate the Mwinilunga Copper Mine in Zambia’s North-Western Province. The new entity, Lunda Resources, was formally launched during a signing ceremony held at the U.S. Embassy in Lusaka, witnessed by U.S. Ambassador Michael Gonzales.","length":472,"tagName":"p"},{"type":"text","content":"Lunda Resources has already invested ZMW 270 million in initial project development and plans to commit a total of ZMW 2.7 billion toward the mine’s full build-out, including copper ore processing systems. The operation is expected to process up to 2 million metric tons of ore annually, producing approximately 100,000 metric tons of copper concentrates, copper cement, and cobalt precipitate.","length":394,"tagName":"p"},{"type":"text","content":""This partnership with Metalex is a milestone for our company and for Zambia’s mining future,” said Mumena Mushinge, Chairman of Terra Metals. “It gives us the resources and international reach to scale responsibly, generate local jobs, and increase Zambia’s share in the global energy supply chain.”","length":305,"tagName":"p"},{"type":"text","content":"The joint venture is poised to make a significant social and economic impact:","length":77,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"130 Zambians already employed, with plans to create 400 additional jobs","length":71,"tagName":"p"}]},{"val":[{"type":"text","content":"Integration of up to 1,000 artisanal miners into the supply chain with fair purchasing practices","length":96,"tagName":"p"}]},{"val":[{"type":"text","content":"A 10-megawatt solar power and storage facility designed to reduce emissions and fuel usage","length":90,"tagName":"p"}]},{"val":[{"type":"text","content":"Over ZMW 4.6 million invested in water and sanitation projects, benefiting more than 3,000 people","length":97,"tagName":"p"}]},{"val":[{"type":"text","content":"A commitment to i...

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