Chillerton, a junior copper and cobalt mining company, has become one of the largest license holders in the Zambian Copperbelt following the award of a further three large scale mining (LSM) licences in July 2021. Its licenses now cover in excess of 20 000 hectares and are located near existing producing copper mines. The site benefits from good access to existing infrastructure.
Additionally, Chillerton has signed an ore offtake and royalty agreement with Rudra Copper, a local plant operator in the Copperbelt which will allow the company to sell up to 3.5 million t of tailings ore across five years, commencing in the second quarter 2022.
These developments will allow substantial growth for Chillerton, permitting it to focus on the advancement of the feasibility study on the Kakosa North and South ore bodies as well as commencing regional exploration programmes on its new and prospective licences.
“I am very pleased with the tremendous progress the group has made. These deals are not just a recognition of our history and experience in Zambia, but underline our track record of making a difference,” said Karan Rathi, CEO of Chillerton.
“With copper set to drive a future of electric vehicles, the consumption of the mineral is expected to jump tenfold by 2050.
“Chillerton’s goal is to create a critical metal powerhouse that not only generates growth and job opportunities in Zambia, but makes a real social impact through forging strong local partnerships and investment in the communities in which it operates.”
Chillerton is an independent Anglo-Indian family office with investments in sub-Saharan Africa. Founded officially in 2001, Chillerton’s history dates back to 1976. It was then that the first direct investment was established with conglomerate Lonrho with a view to serving the people of Zambia.