This has been a great pick from Struthers. Not many juniors have a JV with two major partners on two different parts of their project.
Midnight Sun is focused on exploring it flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambia-Congo copper belt, the second-largest copper-producing region in the world, its property is vast and highly prospective. Its Solwezi project is surrounded by world-class producing copper mines, including Africa’s largest copper mining complex right next door, First Quantum’s Kansanshi mine. Led by an experienced geological team with multiple discoveries and mines around the world to their credit.
On April 23, 2024, the company announced a co-operative exploration plan with First Quantum to define oxide copper resources at two targets — Kazhiba and Mitu, in order to jointly define potential feed sources for First Quantum’s SX/EW oxide copper circuit at the Kansanshi mine. Initial plans prioritized Kazhiba based on its close proximity to Kansanshi.
On February 20, 2024 – Midnight Sun Mining signed an earn-in agreement with KoBold Metals Company (“KoBold”), through their respective Zambian subsidiaries, to explore the Dumbwa Target (“Dumbwa Target” or “Dumbwa”), located on the Company’s Solwezi Project in Zambia.
KoBold Metals Company is a US-based, privately held, battery metal exploration and mining company that combines geoscience, data science, machine learning, and artificial intelligence to search for the critical minerals needed for the clean energy transition. KoBold is backed by technology investors including Breakthrough Energy Ventures (initiated by Bill Gates) and Silicon Valley venture capital firm Andreessen Horowitz, as well as institutional investors such as T. Rowe Price and Canadian Pension Plan Investment Board.
