U.S., Zambian joint venture to invest in Mwinilunga copper mine

U.S.-based Metalex Commodities and Zambian-owned Terra Metals Limited have entered into a joint venture agreement to establish Lunda Resources, a new company that will develop and operate the Mwinilunga Copper Mine in North-Western Province.

The agreement was signed on Tuesday at the U.S. Embassy in Lusaka, with U.S. Ambassador to Zambia, Michael Gonzales, witnessing the event.

Lunda Resources claims to have already invested K270 million, with plans to inject a total of K2.7 billion to fully develop the mine and its copper ore processing systems.

Once fully operational, the project aims to process up to 2 million metric tons of copper ore annually, producing 100,000 metric tons of combined copper concentrates, copper cement, and cobalt precipitate.

The joint venture has committed to sustainability through the design of a 10-megawatt solar power and energy storage facility, aimed at reducing diesel fuel use and lowering carbon emissions.

U.S. Ambassador Gonzales hailed the project as a symbol of responsible private-sector investment and the growing commercial relationship between Zambia and the United States.

“This partnership reflects the United States’ commitment to strengthening commercial ties with Zambia and supporting responsible investment in critical minerals. It is a strong example of the kind of private-sector leadership we encourage and celebrate,” Gonzales said.

Metalex CEO, Ayo Sopitan said the joint venture was more than just an investment but a strategic alliance built on sustainability, innovation, and local empowerment.

“Through Lunda Resources, we intend to deliver low-emission, high-impact metals to global markets, while driving development on the ground in Zambia,” Sopitan said.

Mumena Mushinge, Chairman of Terra Metals, described the collaboration as a major milestone.

“This partnership gives us the resources and international reach to scale responsibly, generate local jobs, and increase Zambia’s participation in the global energy transition,” Mushinge stated.

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