Australia-based RMC has acquired the Mpanda and Mbozi copper-gold projects in Tanzania.
The deal was executed through the purchase of a 75% stake in Vancouver Mineral Resources (VMR), a Tanzanian company, and positions RMC in a significant multi-element resource area within the Ubendian Orogenic Belt in western Tanzania.
The acquisition not only complements RMC’s existing six nickel-copper project areas in the same belt but also enhances the potential for new critical minerals discoveries.
The Mpanda and Mbozi projects are situated in highly prospective grounds with the Mpanda Mineral Field having a history of copper mining since the 1930s.
The active Singililwa Mine, known for its high-grade copper, is located along strike from the Mpanda Project’s tenements.
The Mbozi Project, initially explored by BHP, features the high-grade copper Luez Hill project, which is also up strike from the acquired tenements.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
Preliminary soil surveys and field mapping have identified major copper anomalies within geological units, indicating the presence of significant mineralisation potential.
RMC executive chairman Asimwe Kabunga said: “We are extremely excited to announce the acquisition of the Mpanda and Mbozi Cu-Au [copper-gold] projects, which we intend to explore in parallel with our current Ni-Cu [nickel-copper] projects.
“The new projects are placed along strike from some of the most significant Cu-Au discoveries in Tanzania, and recent field work has already found major anomalies along strike and within the appropriate geology.
“The advantage held by our in-country knowledge and experienced staff can now be fully utilised as we expand our exploration base and continue to explore for major critical mineral deposits.”
