Trident Royalties acquires royalty over Zambian copper mine from Moxico Resources
June 29, 2020
5.00 Million USD
On June 29, 2020, Trident Royalties Plc (then named Trident Resources) acquired a royalty from Moxico Resources over copper production from Moxico's operating Mimbula copper mine in Zambia. Trident paid cash consideration for US$5 million and is entitled to royalty payments on production commencing from July 1, 2020.
The GRR rate will be 1.25% decreasing to 0.3% upon US$5 million being paid on the royalty, with a subsequent decrease to 0.2% once the royalty has been paid on 575 000 t of copper.
Moxico has stated it will use the proceeds to increase production from the Mimbula mine, as well as for general working capital purposes.
Trident Royalties, based in the UK, is a mining royalty and streaming company with a portfolio of assets around the world.
McCarthy Tétrault advised Trident with a team led by Roger Taplin that included Daye Kaba.