Midnight Sun Mining (TSXV: MMA) has announced a significant milestone for its flagship Solwezi Copper Project in Zambia. The Zambian Ministry of Mines and Minerals Development has approved the renewal of the exploration licence, focusing on the Kazhiba target area. This development reinforces Midnight Sun’s ongoing exploration efforts on the 506-sq.-km property, located just 10 km from Africa’s largest copper mine, Kansanshi, operated by First Quantum Minerals (TSX: FM).
The Kazhiba licence renewal holds strategic importance as Midnight Sun collaborates with First Quantum Minerals to define near-surface copper oxide resources. These resources could potentially feed into the Kansanshi mine, which aligns with both companies’ larger exploration objectives. Midnight Sun‘s CEO, Al Fabbro, expressed gratitude to the Zambian government for rectifying past issues, and ensuring the stability of the project’s development plans.
Fabbro added that current exploration programs aim to unlock both oxide and sulphide copper mineralization across Kazhiba, Mitu, and Crunch target zones. “Near-term production opportunities offer a rare, non-dilutive pathway to support further exploration,” he remarked.
Collaborations and New Agreements
The Solwezi Copper Project also benefits from proximity to other prominent mining operations, including Barrick Gold‘s Lumwana mine. Positioned on the prolific Zambian copper belt, the project is an attractive target for ongoing investment and exploration.
Further strengthening its position, Midnight Sun has partnered with US-based KoBold Metals. This startup, supported by prominent investors such as Bill Gates and Jeff Bezos, aims to earn a 75% interest in the Dumbwa area of the Solwezi property. KoBold plans to invest $15 million in exploration activities and make $500,000 in cash payments over four and a half years. The recent amendment to their agreement removes the longstop date, enabling both parties to secure necessary regulatory approvals in Zambia.
With the Solwezi project advancing rapidly, Midnight Sun continues to explore its vast potential, targeting both near-surface and deeper copper deposits to sustain long-term operations.
