Australian company invests $1.1m in Zambian copper mine

Australia-based mineral exploration and development company Argonaut has increased its ownership of the Lumwana Copper Concentrate Project (Lumwana West), in Zambia, from 51% to 90% through a final payment of $1.1-million to the project vendors. Argonaut achieved the acquisition through a deal, signed in May, with Chilean copper mining company Antofagasta, which has become a cornerstone investor in the project, funding it from the exploration stage to production.