The U.S. Trade and Development Agency (USTDA) has awarded funding to Metalex Africa Zambia, a subsidiary of Texas-based Metalex Commodities, for a feasibility study aimed at accelerating the expansion of a facility in the southern African country that extracts and processes copper and cobalt.
The project aims to diversify US supply chains for these critical minerals.
Mining Weekly reports that the partnership was announced in a ceremony on Capitol Hill in Washington, DC, witnessed by US Senator Ted Cruz.
The USTDA’s assistance will support plans to expand extraction and refining operations at the Kazozu mine, including a study to evaluate the potential for producing an additional 25,000 metric tons of copper and cobalt concentrates annually.
These minerals are essential for semiconductors, fibre-optic networks, energy systems, batteries, and aerospace and defence applications.
The study is expected to connect Metalex with US buyers and create opportunities for American companies to supply materials and equipment for the expansion.
“USTDA’s partnership with Metalex will help ensure US industries can reliably access the inputs they need to remain secure, competitive, and prepared to meet the challenges of the future,” said USTDA acting director Thomas R Hardy.
“By leveraging US technology and expertise, this project will help expand Zambia’s mining sector, advancing responsible resource development to benefit both our nations.”
Metalex Commodities chief executive Ayo Sopitan said the grant from USTDA is a significant milestone for their Zambian project, which will produce copper and cobalt destined for US offtake.
“The grant will help us expand our current resource, define project phases, as well as establish the feasibility of project expansion,” he said
Metalex is a US-based producer of carbon-neutral critical metals with its flagship project being the Kazozu copper/cobalt mine, a project done in partnership with Zambian mining junior Terra Metals.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
