Core Insights - Terra Metals Inc. and its Zambian subsidiary Lunda Resources Ltd. announced a significant metallurgical breakthrough at the Kalaba copper project in Zambia, achieving a flotation recovery rate exceeding 96.5% and a concentrate grade of 26.91% copper content, which is considered an outstanding result for predominantly oxidized ore [1][8]. Technical Highlights - The flotation process achieved a cumulative copper recovery rate of 96.52%, with sulfide concentrate copper content at 26.91% and oxidized concentrate copper content at 4.31% [8]. - Advanced chemical agents were utilized to achieve flotation breakthroughs, particularly using CMC inhibitors to process up to 54% talc content, successfully addressing significant processing challenges [8]. Community and Traditional Support - Terra Metals expressed gratitude to the leadership of the Lunda tribe, particularly Senior Chief Sailunga and Chief Ntambu, for their support, which has been crucial for the integrity and respect towards local communities during the project's advancement [4]. Regional Value Addition Potential - In addition to the Kalaba project, the company holds large-scale exploration licenses through Central Africa Renewable Energy, covering potential copper-cobalt areas south of the world-class Kamoa-Kakula deposits in the Congo [5]. Chairman's Statement - The chairman of Terra Metals Inc. and Lunda Resources, Mumena Mushinge, stated that this achievement not only represents a technical victory but also positions Zambia as a leader in the global supply of critical minerals, promoting responsible production driven by solar energy [6]. Upcoming Milestones - A NI 43-101 compliant resource assessment report is expected to be released by the end of July 2025 [9]. - A 240 tons/hour processing plant is set to commence operations in September 2025 [9]. - Plans are in place to expand solar capacity to 100 megawatts [9]. Company Overview - Terra Metals Inc. is a Delaware-based mineral development company focused on acquiring impactful critical mineral assets in Africa that meet environmental, social, and governance standards, aiming to supply the U.S. and allied markets [10].

Core Insights - Terra Metals Inc. and Metalex Commodities have finalized negotiations to establish a new company, Lunda Resources, aimed at creating a significant copper-cobalt production enterprise in Zambia, with an initial funding commitment of $100 million [1][4] - The partnership highlights the deepening cooperation between the U.S. and Africa in the clean energy transition and marks an important diplomatic and commercial milestone in the region's mining industry [1][4] Company Leadership and Structure - Mumena Mushinge, Chairman of Terra Metals Inc., will serve as Chairman of Lunda Resources, while Ayo Sopitan, CEO of Metalex Commodities, will take on the role of CEO for the new company [2] - Brian Chisala, Executive Director of Terra, will also join the leadership team, enhancing the joint venture's expertise in cross-continental operations [2] Project Milestones and Infrastructure - A copper-cobalt processing plant with a capacity of 240 tons per hour is under construction in Zambia, set to commence operations in September 2025, aimed at processing high-grade ore and supplying strategic markets, including the U.S. [3] - The project will utilize the Lobito railway corridor for direct logistics to Atlantic ports, facilitating efficient transportation of mineral products [3] Funding and Financial Commitments - Metalex Commodities has committed to raising $100 million over the next nine months to support the plant's completion, logistics and export infrastructure, and community integration projects, along with environmental, social, and governance compliance [3] - Terra Metals Inc. has signed a share purchase agreement with Waskahigan Oil and Gas Corp. (WOGC), allowing it to access the North American public capital markets and enabling institutional investors to participate in Lunda Resources' development [3] U.S. Government Support and Strategic Importance - The formal signing ceremony at the U.S. Embassy in Lusaka reflects Washington's increasing focus on the security of critical mineral supply chains, particularly those essential for electric vehicles, renewable energy, and energy storage systems [4] - The project aligns with the U.S. State Department's Mineral Security Partnership (MSP) objectives, reinforcing Zambia's critical position in the global mineral supply chain [4]