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Africa|Copper|Exploration|Infrastructure|PROJECT|Projects|Resources|System|Drilling|Infrastructure
Africa|Copper|Exploration|Infrastructure|PROJECT|Projects|Resources|System|Drilling|Infrastructure
africa|copper|exploration|infrastructure|project|projects|resources|system|drilling|infrastructure

Prospect rapidly advancing Zambian copper project

Prospect Resources MD Sam Hosack

Prospect Resources MD Sam Hosack

5th September 2025

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Australia-listed Prospect Resources is positioning itself as a fast-moving copper developer in Zambia, with MD Sam Hosack telling the Africa Down Under conference on Friday that the company’s Mumbezhi project had the scale, grade and location to support a long-term copper operation. 

Prospect, which sold its Arcadia lithium project in Zimbabwe for a strong return to shareholders in 2022, has shifted its focus to Zambia’s North-Western province – home to First Quantum’s Sentinel and Kansanshi mines.

The company acquired the Mumbezhi  project in May 2024 and quickly embarked on an aggressive exploration programme, drilling 10 000 m in the first year and declaring a maiden mineral resource of 107-million tonnes at 0.5% copper, containing about 500 000 t of copper metal.

“That 0.5% grade is typical of what produces three-quarters of Zambia’s copper exports today. It is viable and open-pittable,” Hosack said. “This is a very typical Zambian copper story, but we believe it is one of the most rapidly advancing projects in the country.”

Zambia has set a target of tripling national copper production from 800 000 t/y to three-million tonnes by 2031, a goal Hosack said is backed by strong policy support for foreign direct investment.

Prospect’s exploration work is now stepping up with an 18 000 m drill programme under way, alongside a tenement-wide airborne electromagnetic survey to test the full potential of the ground. 

The project has also attracted strategic interest. In 2025, First Quantum Minerals acquired a 15% stake in Prospect, aligning the junior with one of Zambia’s largest producers and a potential future partner. 

“We have the team, the resource, the infrastructure and the partnerships to deliver,” Hosack told delegates. “Copper is going to be tightly supplied for the next 5 to 15 years, and Mumbezhi is well placed to be part of that solution.”

Edited by Creamer Media Reporter

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