Weatherly to acquire Zambia copper development project

Aim-listed Weatherly International will acquire the Kitumba copper project in Zambia from ASX-listed Intrepid Mines for an upfront cash consideration of A$4.75-million. The company on Tuesday announced that it had entered into a binding agreement with Intrepid to buy the project, with the transaction being subject to certain conditions precedent, including shareholder approval and any regulatory approvals required in Zambia and Australia.