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TERTIARY MINERALS FORMS NEW ZAMBIAN COPPER ENTITY

THE AIM-listed mineral exploration and development company Tertiary Minerals PLC says it is forming a Zambian subsidiary to target copper exploration and development opportunities in the country.

Company Executive Chair Patrick Cheetham said the company will form Luangwa Minerals Ltd in a bid to expand its African copper interests.

Marcel Nally is expected to be appointed Luangwa’s Exploration manager in due course and will hold 3 percent of the subsidiary.

Tertiary Minerals will retain Shangwa Chime as Luangwa’s government liaison officer, and he will hold 1 percent of the unit.

Tertiary will own the remaining 96 percent of the Zambian subsidiary

“Copper is increasingly a focus for the company and with Zambia one of the world’s top ten copper-producing countries, producing nearly 900,000 tonnes of copper in 2020, we expect Luangwa to be a valuable addition to the Tertiary asset portfolio,” says Mr Cheetham.

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