Patriot Resources (ASX: PAT) has officially struck a game-changing deal, acquiring the high-grade Sugarloaf copper deposit in Zambia’s renowned Mumbwa copper district—one of the country’s most promising mineral belts.
The Sugarloaf project, rich with historical drilling data, carries an exploration target of 1.6 to 2.5 million tonnes at impressive copper grades of 2.0% to 2.5%, translating to an estimated 32,000 to 62,500 tonnes of contained copper.
Strategic Location, Built-In Advantage
What makes Sugarloaf even more attractive is its strategic proximity—just 4.4 km southeast of Sinomine’s Kitumba copper deposit and under-construction smelter, which Patriot plans to use for ore processing. The smelter is expected to be operational by late 2026, providing a ready-made, state-of-the-art processing route for Sugarloaf ore.
“Once this acquisition is finalised, Patriot will hold a truly diversified copper portfolio—from near-term, high-grade production opportunities to large-scale exploration potential,” said Patriot Chairperson Hugh Warner. “Aligning Sugarloaf’s development with Sinomine’s Kitumba timeline is a core part of our strategy.”
Backing From Sinomine
The move also has the backing of Sinomine Chairperson Pingwei Wang, who praised the acquisition:
“Congratulations to the Patriot team. We look forward to processing Sugarloaf ore at our Kitumba smelter.”
Geology and Infrastructure Ready for Action
Geologically, Sugarloaf shares key features with Kitumba, including shallow, near-surface mineralisation ideal for open-pit mining. Previous artisanal mining has already exposed part of the orebody, and historical drilling—35 diamond core holes totalling nearly 12,000 metres—supports its potential.
Adding to its advantages, Sugarloaf is located less than 500 metres from Zambia’s national power grid, significantly reducing infrastructure costs and accelerating the path to development.
Deal Structure and Exploration Upside
The acquisition deal includes:
- A US$10,000 deposit and 30-day due diligence period;
- A US$1 million payment within 90 days;
- A deferred payment of either US$500,000 by end-2025 or US$1 million from future cash flow.
The project is secured under a valid mining licence until 2033, and Patriot has flagged multiple additional copper occurrences within the licensed area, opening the door for further exploration and resource expansion.
Building Zambia’s Next Copper Success Story
This acquisition not only strengthens Patriot’s position in Zambia’s vibrant copper sector—it also aligns with the company’s vision of fast-tracking high-quality assets into production while leveraging local infrastructure and partnerships.
As global demand for copper surges—fuelled by the energy transition and electrification—Sugarloaf could quickly become one of Zambia’s standout near-term producers.
