GETECH Group plc New Zambia Data Package for Mineral Exploration

RNS Number : 5393X

GETECH Group plc

24 July 2024

 

24 July 2024

Getech Group plc

("Getech" or the "Company")

Getech Announces New Zambia Data Package for Mineral Exploration

Getech, a world-leading locator of subsurface resources, is pleased to announce the launch of a comprehensive data package in support of mineral exploration in Zambia. The launch of the data package, is in response to commercial requests and follows the Zambian government's decision to rationalise exploration licenses throughout the country and is designed to support companies looking to apply for new licenses in order to explore Zambia's mineral rich subsurface.

Through its integrated geological and geophysical data, the package enables innovative exploration techniques, streamlines mineral location workflows and provides a competitive edge to companies exploring for mineral resources across Zambia. Leveraging Getech's geoscience and subsurface expertise, as well as best-in-class geophysical and geological data, the data package is an invaluable resource for companies aiming to capitalise on new mining opportunities across Zambia.

Richard Bennett, CEO at Getech, commented:

"Zambia still holds enormous potential for future significant discoveries of critical minerals that are vital for the energy transition. The new government led by His Excellency President Hakainde Hichilema, is creating a fresh business environment for international investors to develop the sector. This includes a key aim of growing the country's annual copper production from 770,000 metric tonnes (mt) in 2022 to 3mn (mt) by 2030. Getech's data package will help accelerate identifying areas of interest, making it an essential prerequisite for any mining company looking to acquire mining licences in Zambia."

Background

The Zambian Mining Licensing Committee recently announced the cancellation of 2,605 licenses due to non-compliance with the conditions of grant for mining and non-mining rights. Rights holders had until 1 May 2024 to appeal. Following the review of appeals, these cancellations are expected to take effect, making the licenses available for new applications. This initiative is part of the government's ongoing efforts to streamline the mining sector and ensure compliance with regulatory standards, creating new opportunities for companies to acquire exploration rights in some of the country's most promising mineral-rich areas.

Zambia is a prime destination for mining exploration, boasting vast reserves of copper, cobalt, gold, nickel and uranium. With a century-long mining history, Zambia stands out for its strong infrastructure and skilled workforce. In 2023, the country's mining sector attracted $3.4 billion in investment commitments, doubling the pledges made in 2022. The International Energy Agency's Global Critical Minerals Outlook 2024 highlights Zambia's development of a critical minerals strategy and a recent cooperation agreement on critical minerals with the Democratic Republic of the Congo. Additionally, China has proposed a $1 billion project to upgrade the Tazara railway, connecting Zambia's copper belt to the port of Dar es Salaam in Tanzania, developments further enhancing Zambia's attractiveness as a region for mineral exploration.

Getech's Zambian Data Package for Mineral Exploration comprises:

·      Geophysical Data: Gravity and magnetics data, lithospheric thickness, structural interpretation, structural reconstruction models and tectonic history. Getech's Zambian magnetic data includes reprocessed legacy surveys from the African Magnetic Mapping Project which have been IGRF-corrected, levelled, adjusted to a 1 km drape height, merged and gridded at a 1 km cell size. Getech's Zambian gravity data includes data from over 6,000 gravity stations which have been harmonized; re-processed by Getech's potential field experts to create bouguer anomaly, isostatic residual anomaly and several derivatives of the isostatic residual anomaly; and gridded at a 4 km cell size.

·      Satellite and Earth Observation Data: Decorrelation stretches; Advanced Spaceborne Thermal Emission and Reflection Radiometer (ASTER) images re-processed and delivered with a suite of Mineral Indices maps; Digital Elevation Models (DEMs); vegetation and land-use maps; as well as drainage and catchment area maps.

·      Globe Geoscience Data - Zambia Focus: Comprehensive coverage of Globe's rich geologic knowledgebase for Zambia, including detailed data on geologic structure, crustal architecture, Depth to Basement (D2B) and paleoclimate models.

·      Geological Data: Mineral occurrences, lithology and geology maps and reports.

·      Expert Support: Getech's team of experienced geoscientists is available to provide expert support and consultation, helping companies to maximise the value of the data and optimise their exploration strategies.

 

Notes to editors:

 

About Getech

Getech is a leading locator of the energy and mineral resources essential for the world's energy transition. Getech's unique Earth's evolution data, coupled with its geoscience expertise, AI-driven analytics and extensive GIS capabilities, enables the company to provide valuable and actionable insights to support resource discovery and development.

The company's client portfolio is wide-ranging, from governments, municipalities, natural resources and energy companies to consumer goods and computing services companies, all striving to become energy and minerals self-sufficient and drive towards net zero.

Founded in 1994 Getech is listed on the Alternative Investment Market of the London Stock Exchange ("AIM"), with ticker symbol GTC.

For further information, please visit www.getech.com.

 

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