🚀 Ecora Resources acquires copper stream on producing Mimbula Mine
This morning, we announced a streaming deal agreed with Moxico Resources plc, for production at their Mimbula copper mine for a total cash consideration of US$50m.
🌍 Located in the Zambian copper belt, the Mimbula mine is a producing copper-rich oxide and sulphide deposit, and one of the lowest cost copper mines globally.
💰 This is an immediately income generating and highly accretive asset for Ecora, with an illustrative annual EBITDA expected to be c. $9.5 million once production is fully ramped up at the site.
The acquisition builds on Ecora’s portfolio momentum, whilst extending our sector leading copper growth pipeline. 💪
Our CEO Marc Bishop Lafleche said: “We are excited to start 2025 with the announcement of a new partnership with Moxico in relation to the Mimbula copper mine, which will cement copper at the core of our commodity exposure and be immediately accretive to earnings and free cash flow. Mimbula has everything we look for in an investment; it is a high-quality ore body, with low operating costs, and with an exceptional management team who have developed the project from concept to a high-margin operation currently undergoing a brownfield expansion to increase production capacity."
Check out this video for an overview of the transaction, and view the full announcement here for further details: https://lnkd.in/eFH3BNKu
#Ecora #LSE #TSX #OTCQX #Copper #Mining #EnergyTransition
