Tertiary Minerals PLC UK Government Press Release Supports Zambia Growth
03 Août 2023 - 4:09PM
RNS Non-Regulatory
TIDMTYM
Tertiary Minerals PLC
03 August 2023
3 August 2023
Tertiary Minerals plc ("Tertiary" or "the Company")
UK SUPPORTS GREEN GROWTH & CRITICAL MINERALS DEVELOPMEMNT IN
ZAMBIA
Tertiary Minerals plc, the AIM traded company exploring for
copper in Zambia would like to draw attention to the UK
Government's Press Release made earlier today as Foreign Secretary,
James Cleverly, visits Zambia and announces new targets for the
UK-Zambia Green Growth Compact.
Key Points
-- the Foreign Secretary has announced a UK clean energy
partnership with Zambia today at the end of a 4-day visit to
Africa.
-- new ambitious targets set for green investment include up to
GBP2.5 billion of UK private sector funding and up to GBP500
million in UK government backed investments.
-- James Cleverly is the first Foreign Secretary to visit Zambia
in over 30 years, he will also tour a copper mine and sign a
memorandum of understanding on critical minerals.
The Press Release states that: " The new targets will be
delivered through the UK-Zambia Green Growth Compact , which aims
to drive investment in Zambia's green economy, strengthening the
growing economic partnership between Zambia and the UK.
Supporting the Foreign Secretary's drive to prioritise
future-focussed, mutually beneficial partnerships on his visit to
Africa this week, these new targets include generating up to GBP2.5
billion of British private sector investment in Zambia's mining,
minerals and renewable energy sectors, delivering up to GBP500
million of UK government-backed investments and mobilising up to
GBP150 million of private sector investment into small- to
medium-sized enterprises (SMEs). UK and Zambian firms will benefit
from the commercial opportunities, growing the economy of both
countries."
The Foreign Secretary will also tour the Mimbula Copper Mine,
where British firm Moxico Resources will invest an additional $210
million (around GBP164 million) of private sector funding to expand
production at the site, increasing exports, and economic growth in
both Zambia and the UK.
James Cleverly will also sign a memorandum of understanding on
critical minerals which will lay the foundation for further UK
support for the responsible mining of copper, cobalt and other
metals essential to the global clean energy transition."
Commenting today, executive Chairman Patrick Cheetham said:
"We are very pleased to see the furthers strengthening of ties
between the UK and Zambia and further support for UK companies
investing in the Zambian mining industry, which is already a major
producer of the copper, a critical mineral in the green energy
transition. We are pleased to be playing a part in Zambia's
ambitions to increase copper production more than three-fold from
current levels."
For more information please contact:
Tertiary Minerals plc:
Patrick Cheetham, Executive
Chairman +44 (0) 1625 838 679
------------------------------
SP Angel Corporate Finance LLP
Nominated Adviser and Broker
Richard Morrison +44 (0) 203 470 0470
------------------------------
Harry Davies-Ball
------------------------------
Peterhouse Capital Limited
Joint Broker
Lucy Williams + 44 (0) 207 469 0930
-------------------------------
Duncan Vasey
------------------------------
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END
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