Tertiary Minerals (GB:TYM) has released an update.
Tertiary Minerals PLC has announced a joint venture with First Quantum Minerals Limited for the Mukai Copper Project in Zambia, with First Quantum funding a minimum of $1.5 million in exploration expenditures over an initial 24-month period. If successful, the partnership aims to rapidly develop new copper resources to supply First Quantum’s Sentinel processing plant, which has the capacity to process 55 million tonnes of ore annually. The deal includes potential payments to Tertiary’s subsidiary totaling up to $2 million, contingent on reaching certain resource and mining milestones.
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