Shuka Minerals PLC (AIM:SKA) shares strengthened on Friday, rising 15%, after it completed its acquisition of Leopard Exploration and Mining.
The AIM-listed miner said the transaction gives it 100% ownership and operation of the Kabwe Zinc Mine in Zambia. It said Kabwe has produced more than 14.56 million tonnes of ore since production started in 1904 and has reported grades of up to 43% zinc.
“It is a very exciting time for Shuka and I am very pleased to advise that we have now completed the 100% purchase of Leopard Exploration and Mining, and with it, the world class asset of the Kabwe Mine,” chief executive Richard Lloyd said in the statement.
Shuka said a 2026 work programme will include geological and geophysical studies, drilling and environmental baseline programmes, with the aim of reserves upgrades.
In London, Shuka shares were up 15.4% changing hands at 4.5p.