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.