Trident Royalties acquires royalty over Zambian copper mine from Moxico Resources

Date Announced

June 29, 2020

Lead Office

Toronto

Value

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.

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