LUSAKA – U.S.-based Metalex Commodities and Zambian-owned Terra Metals Limited signed a partnership agreement today to create the joint venture Lunda Resources, which will develop and operate the Mwinilunga Copper Mine in North-Western Province. The signing ceremony was held at the U.S. Embassy in Lusaka and witnessed by U.S. Ambassador Michael Gonzales.
Lunda Resources has already invested 270 million kwacha and plans to invest a total of 2.7 billion kwacha to fully develop the mine site and its copper ore processing systems. Lunda Resources estimates the project will annually process up to 2,000,000 metric tons of copper ore, producing 100,000 metric tons of combined copper concentrates, copper cement, and cobalt precipitate.
Lunda Resources already employs 130 Zambians and plans to create 400 more new jobs. Additionally, it will incorporate up to 1,000 artisanal miners into its supply chain by allocating space at the project site for them to mine and paying them a fair price for their output.
The joint venture has committed to preserving Zambia’s environment by designing a 10-megawatt solar power generation and energy storage facility to significantly reduce the project’s fuel consumption and carbon footprint.
Lunda Resources has already invested 4.6 million kwacha in water and sanitation projects for local communities, benefitting more than 3,000 people. In collaboration with Chief Sailunga Ikundu and Chief Ntambu, Lunda Resources plans to invest 27 million kwacha per year in community development projects through 2030.
At the event, Ambassador Gonzales noted, “This partnership reflects the United States’ commitment to strengthening commercial ties with Zambia, supporting responsible investment in critical minerals. It is a strong example of the kind of private-sector leadership we encourage and celebrate.”
Ayo Sopitan, CEO of Metalex, emphasized the company’s long-term commitment to the region, stating, “This is more than an investment – it’s a strategic alliance built on shared values of sustainability, innovation, and local empowerment. Through Lunda Resources, we intend to deliver low-emission, high-impact metals to global markets, while driving development on the ground in Zambia.”
Mumena Mushinge, Chairman of Terra Metals, welcomed the joint venture as a transformative step. “The partnership with Metalex is a milestone for our company and for Zambia’s mining future. It gives us the resources and international reach to scale responsibly, generate local jobs, and increase Zambia’s share in the global energy supply chain.”
The launch of Lunda Resources comes amid growing international demand for responsibly-sourced minerals such as copper, cobalt, and rare earths, all essential to advanced technologies and infrastructure. This partnership sets a new standard for U.S.–Zambia collaboration in sustainable mineral development.
About Metalex
Metalex Commodities Inc. is dedicated to delivering carbon-neutral critical metals from Africa to the global market.
About Terra Metals
Terra Metals Limited is a Zambian exploration and mining company focused on environmentally and socially sustainable critical minerals development across Africa, for delivery to U.S. and allied markets.