LONDON – Bracewell (UK) LLP represented Ecora Resources PLC in relation to a copper stream with reference to production at the Mimbula copper mine in Zambia, owned by Moxico Resources plc, for a total cash consideration of US$50 million.
The Mimbula mine, located in the Zambian Copperbelt Province, achieved first production from phase 1 of the project in late 2022 and in 2024 produced 14,000 tonnes of Grade A LME copper cathodes at operating costs in the lowest half of global copper mines. A phase II expansion is currently in construction, which will increase total copper cathode production capacity to achieve 56,000 tonnes per annum in mid-2026.
Oliver Irwin, who led the Bracewell team, commented: “We are delighted to have assisted Ecora in connection with this copper stream. As global demand for critical minerals like copper continues to grow, in a large part driven by the energy transition, we recognise the importance of these alternative financing structures in unlocking the capital required to meet that demand.”
Bracewell lawyers involved include:
Partners: Oliver Irwin and Darren Spalding
Senior Associates: Kirsty Delaney and Rory Wilson
Associate: Brandon Price
