Prospect Resources Quadruples Copper Resource at Mumbezhi

Prospect Resources (ASX:PSC) has grown its Mumbezhi copper resource from 240,000 tonnes to over 1 million tonnes copper equivalent in two drill seasons. The upgrade comes as copper prices hover near record levels, supported by electrification demand and constrained global mine supply. The company acquired the project two years ago with an initial 240,000 tonnes; subsequent drilling has more than quadrupled the resource base.

From 240kt to 1Mt: Mumbezhi’s Resource Jump

Prospect Resources executive finance director Ian Goldberg described the Mumbezhi project’s rapid resource growth as a validation of the district’s potential. The project sits in Zambia’s Copperbelt region, an area that hosts two large-scale operations, each with resources exceeding 1 billion tonnes and grades similar to Mumbezhi. That geological neighborhood gives the deposit a clear path to scale. The company has been drilling the east and west extensions of the mineralized system, and the results so far point to a continuous, high-tonnage copper body.

For investors tracking copper developers, the resource jump from 240,000 tonnes to over 1 million tonnes represents a transformation in project economics. At current copper prices, a resource of that size can support a long-life mining operation, provided metallurgy and infrastructure are favorable. Prospect Resources is now targeting a full resource update, which will form the basis for a feasibility study.

Copper at Record Prices: Why Zambia’s Grade Matters

Zambia is already a top-tier copper jurisdiction, home to major producers like First Quantum Minerals and Vedanta Resources. The country’s Copperbelt offers established infrastructure, including roads, power, and smelting capacity. For a junior developer like Prospect Resources, being located in a known mining district reduces the execution risk associated with greenfield projects.