Raiden takes option to earn up to 80% of Zambia copper exploration project

Wednesday 11th November 2026

By inAfrika Newsroom

Australia’s Raiden Resources said on 11 November it had signed a binding agreement with Lobito Resources that gives it an option to earn up to 80% of the Zambia Copper Domes Project. The project covers a 507-square-kilometre exploration licence in Zambia’s North-Western Province.

Raiden set out a series of conditions in its stock exchange filing. If it exercises the option, it can earn an initial 51% by completing 6,500 metres of drilling, subject to the agreement’s deadlines and extensions. A further 7,000 metres could raise its stake to 65%. Further increases depend on a positive pre-feasibility study and a subsequent decision to mine.

The filing puts scheduled cash consideration at US$350,000 if the option is exercised without using the discretionary extension. That amount excludes exploration, studies, management fees and other costs.

Raiden said its review of the available records found no previous drilling on the licence. The licence borders First Quantum Minerals’ Trident licences, and Raiden puts the operating Sentinel copper mine about 31 kilometres from its boundary. The proposed drilling would test whether the new licence hosts copper mineralisation.

Have a verified news development or story? Send news submissions and supporting materials to news@inafrika.co.tz