(Ecofin Agency) - In March, Prospect Resources released an initial resource estimate for Mumbezhi, indicating a potential of 107.2 million tonnes with a copper grade of 0.5%. This estimate included the Nyungu Central and Kabikupa deposits.

On May 14, 2025, Prospect Resources announced the launch of the second phase of its exploration program at the Mumbezhi copper project in Zambia. The Australian company aims to increase the site’s copper resources, currently estimated at 107.2 million tonnes of ore grading 0.5% copper. 

The study involves drilling 50 diamond holes and 140 exploratory holes, totalling around 18,000 meters. It covers the Nyungu Central and Kabikupa perimeters–the two deposits identified so far–and includes plans to explore and estimate resources at the Nyungu North, West Mwombezhi, and Nyungu South targets.

Electromagnetic geophysical surveys are planned alongside drilling to complement the exploration program. A technical working group formed between Prospect Resources and its new partner, First Quantum Minerals, which recently acquired a 15% stake in Mumbezhi, will manage this initiative.

Prospect Managing Director and CEO, Sam Hosack, commented: 

“We are delighted to be drilling again at Mumbezhi. The Phase 2 programme has been designed to validate the significant potential for a material, large-scale resource at Mumbezhi.”

Prospect aims to develop its first copper mine in Zambia with Mumbezhi, targeting a potential ore resource between 420 million and 1.05 billion tonnes at an estimated copper grade of 0.4% to 0.6%. 

Successful implementation of this second exploration phase would mark progress toward this goal, although discovering new resources does not guarantee mine development. Further studies are required to confirm the economic viability of the Mumbezhi project.

Aurel Sèdjro Houenou