• Australian junior plans phased investment across multiple copper projects
• Initial $2–3 million to fund exploration through 2026
• Strategy aligns with Zambia’s push to boost copper output

Makor Resources, a Perth-based junior mining company, announced on March 25 that it plans to invest up to $30 million in Zambia’s copper sector. The investment, to be deployed over several years, is aimed at advancing its exploration portfolio in the southern African country.

The company holds several licenses in Zambia, including prospects in Muli, Mkushi, Kitwe, and Ndola. As part of its plan, Makor intends to invest between $2 million and $3 million by the end of 2026 to improve geological understanding and refine exploration targets across these assets.

These early-stage activities are expected to be followed by additional investments estimated between $20 million and $30 million, depending on the progress of drilling campaigns and project preparation for more advanced development phases.

Through this strategy, Makor aims to lay the groundwork for a future copper mine, targeting a metal expected to face supply shortages amid the global energy transition.

The move comes in a favorable environment in Zambia, where authorities are working to attract more investment into the mining sector. The government aims to raise national copper production to 3 million tons by 2031, up from 890,346 tons in 2025.

However, the success of Makor’s projects remains uncertain. Moving from exploration to a fully operational mine can take several years and requires substantial funding. The company has yet to detail its financing plans. Meanwhile, other large-scale investment projects are advancing in Zambia, led by major players such as Barrick Mining at Lumwana and Vedanta at Konkola.

Aurel Sèdjro Houenou