Lycopodium Limited Awarded Contract for Lumwana Copper Mine Expansion Project

Lycopodium Limited (ASX:LYL) has been awarded a contract from Barrick Lumwana for the Feasibility Study and Basic Engineering for the expansion of Barrick's Lumwana Copper Mine in Zambia. The contract is valued at approximately A$19 million, with the project having a capital cost investment of almost US$2 billion. The accelerated development program aims to complete the Feasibility Study by the end of 2024, with expanded process plant production anticipated in 2028.

Lycopodium Limited's Managing Director, Peter De Leo, on Lumwana Copper Mine Expansion Project

The expansion of Lumwana within Zambia's world-class copper region supports the country's commitment to its copper industry, and we are very pleased to have the opportunity to continue our partnership with Barrick and be part of this significant development that will have a material impact on the Zambian economy.

Lycopodium's Contract for Lumwana Copper Mine Expansion Project and Outlook

Lycopodium Limited (ASX:LYL) has been awarded a contract for the Feasibility Study and Basic Engineering for the expansion of Barrick's Lumwana Copper Mine in Zambia. The contract, valued at approximately A$19 million, aims to complete the Feasibility Study by the end of 2024, with expanded process plant production anticipated in 2028. The expansion is expected to increase Lumwana's annual production from 150,000 tonnes of copper to an estimated 240,000 tonnes, supporting Zambia's commitment to its copper industry. Lycopodium's involvement in this significant development reflects its expertise in delivering complex projects and its contribution to the Zambian economy.