• Koryx Copper plans to start first drilling programs at Luanshya West and Mpongwe in Zambia in 2026.

• The Haib project in Namibia can produce 88,000 tonnes of copper per year over 23 years with an estimated capex of $1.55 billion.

• Copper prices rose roughly 30% in 2025, trading at $5.4 per pound.

Zambia aims to more than triple its copper production to 3 million tonnes per year by 2031 as new projects advance. This expansion aligns with rising exploration spending driven by juniors such as Koryx Copper.

Koryx Copper announced in a December 5 statement that it intends to launch its first drilling programs in 2026 on its Luanshya West and Mpongwe copper projects in Zambia. The update comes as the company continues to advance the Haib copper project in Namibia and signals its plan to accelerate its investments in the red metal across Africa.

Haib stands as Koryx’s flagship asset. The project can produce 88,000 tonnes of copper annually over a 23-year mine life, based on an estimated $1.55 billion investment. The company plans to optimise these metrics in the coming months following the preliminary economic assessment (PEA) it released in September. Koryx expects its development efforts to extend to its Zambian assets during the same period.

Koryx plans to use the Luanshya West drilling program to test several targets identified during 2025 fieldwork. At Mpongwe, the company plans to analyse results from a sampling campaign before launching follow-up drilling in the second quarter of 2026. The company currently controls 51% of both Zambian projects, which sit in the Copperbelt region that hosts major mines such as Kansanshi and Sentinel operated by First Quantum Minerals.

These initiatives position Koryx Copper to play a growing role in Zambia’s mining sector, which stands as Africa’s second-largest copper producer after the Democratic Republic of Congo. The announcement also comes during a strong year for the metal. Trading Economics data show that copper prices rose about 30% since January and traded at $5.4 per pound.

Koryx has not yet disclosed the cost or scope of the upcoming exploration campaigns. The company raised C$25 million (about $18 million) at the end of July to support its plans. Unlike Haib, the Zambian projects remain at an early stage, and the discovery of an economically viable deposit remains uncertain.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange Jason Quenum