Makor Resources Bets on Zambia with Up to $30M Exploration Investment

Makor Resources has officially entered Zambia’s copper mining sector, unveiling plans to invest up to $30 million in advancing a pipeline of district-scale exploration projects across key copper corridors.

The company announced the launch of its operations on Wednesday, positioning its strategy around disciplined capital deployment and a clear progression from exploration to development. Led by American entrepreneur Brooke Bibeault and headquartered in Australia, Makor Resources has secured a portfolio of copper assets spread across Kasempa, Mkushi, Mumbwa, Kitwe, and Ndola areas known for their strong geological potential.

Investment Strategy and Development Pipeline

At the initial stage, the company has committed approximately $2–3 million before the end of the year. This phase will focus on improving geological understanding and refining target areas across its greenfield projects. Work will include integrated geophysics, remote sensing, and systematic sampling to build a stronger technical foundation for future drilling.

Looking ahead, Makor plans to scale its investment to between $20 million and $30 million over the coming years. These funds will support drilling high-confidence targets, delineating mineralized systems at scale, and progressing assets toward development readiness. The company describes this phased approach as a deliberate effort to convert exploration success into development outcomes building a pipeline of technically sound, development-ready projects that can support long-term copper production.

Market Context and Zambia’s Position

Makor highlighted the global context driving its strategy, pointing to accelerating copper demand that continues to outpace supply.

“Global copper demand is accelerating, but supply is not keeping pace. The gap is already forming, and the challenge now is delivering new supply in a way that is timely, structured and responsibly developed,” said Bibeault.

She added that Zambia presents a uniquely aligned environment for growth, citing the convergence of strong geology, supportive policy direction, and rising market demand. “We already have a portfolio of assets across key copper corridors, and our focus now is advancing them with discipline.”

Government Perspective

Zambia’s Permanent Secretary for Information and Media, Thabo Kawana, welcomed the company’s entry, noting that Makor reflects the type of partner the country seeks to attract.

“Companies such as Makor Resources exemplify the type of partner Zambia seeks,” Kawana said. “Their integrated approach and commitment to governance, community engagement and alignment with global market expectations reflect the vision we have for the future of our mining sector.”