Metalex & Anzana join forces to advance the Lobito Corridor in Zambia

Metalex Commodities Inc. and Anzana Electric Group have signed a Memorandum of Understanding (“MoU”) launching a historic collaboration between the two American companies and advancing development of energy and critical minerals infrastructure in Zambia’s portion of the Lobito Corridor. The MoU establishes a framework for Metalex and Anzana, through its envisioned joint venture with the national electricity utility, ZESCO, to expedite the development, financing, and construction of a medium voltage electricity network to connect Metalex’s Kazozu copper-cobalt mine to the national grid. Longer term, the joint venture will work with Metalex to explore captive and local generation opportunities to meet Kazozu’s growing electricity requirements, which could reach 30MW by 2027. Metalex expects to create up to 350 jobs through its mining operations and the Anzana joint venture with ZESCO will create up to 800 jobs.

Metalex’s flagship Copper-Cobalt Kazozu mine in Mwinilunga District, North-Western Province, Zambia, a joint venture with Terra Metals Inc., has received support from U.S. Trade and Development Agency (“USTDA”) and is currently standing up operations while also exploring significant expansion opportunities in the immediate area. Connecting Kazozu to the grid is anticipated to ensure a cost-effective and reliable power supply and electrification plan for the mine and surrounding communities.

We are excited to sign this important memorandum of understanding with the Anzana team,” said Metalex CEO, Ayo Sopitan. “This is an important budding partnership that will ensure that our copper-cobalt project as well as host communities that surround us in Zambia’s Northwestern Province have access to grid power. We look forward to doing the work together to turn this promise into a win for all stakeholders.”

In mid-2025, Anzana signed a binding term sheet with ZESCO toward forming a joint venture to develop, expand, and operate the national distribution network in the North-Western Province of Zambia over a 25-year period. The joint venture expects to deploy ~US$300m of capital and connect approximately 2 million Zambians to grid-based electricity for the first time.

“This collaboration demonstrates the potential of American companies across sectors working together to accelerate infrastructure investment in Africa,” said Brian Kelly, Anzana’s CEO. “As Zambia’s electricity partner for the Lobito Corridor, we look forward to this project taking shape under our new joint venture and powering possibilities.”