Mimbula, Zambia / Copper
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Mimbula is an open-pit copper mine, located in the Zambian Copperbelt Province, which achieved first copper production from Phase 1 of the project in late 2022.
Producing
Copper
Moxico Resources
Zambia
Royalty rate and type
Stream varying from 1%-4.7% of copper production depending on production volumes
Balance sheet classification
Mineral Stream Interests (PP&E)
Key facts
56ktpa
Expected annual copper production when brownfield expansion is completed (c. mid-2026)
2035
Projected mine life to 2035 with scope for life of mine extension
Mimbula has an eleven year life of mine, with potential for it to be extended, and is one of the lowest cost producing copper mines globally. A brownfield expansion is underway that will see production grow fourfold from 14ktpa in 2024 to 56ktpa of copper.
Ecora owns a stream over copper production from the Mimbula mine. The stream entitlement varies depending on cumulative annual production levels. Ecora receives 4.7% of the first 15kt of annual copper production, 2.5% of copper production between 15ktpa and 30ktpa, and 1% of all copper produced over 30ktpa. Once Ecora has received 9.15 tonnes of copper, then the stream entitlement reduces to 1% for the life of mine. Ecora will make ongoing payments to Moxico equal to 30% of the LME quarterly average copper price.
Ecora received 400t of attributable copper under the stream in 2025 which generated a $2.89m portfolio contribution. Production in 2026 is expected to increase to between 30 and 35kt.