WASHINGTON and LUSAKA, Zambia, Sept. 21, 2025 (GLOBE NEWSWIRE) -- Terra Metals Inc. (Delaware, USA) and its joint venture partner Metalex Commodities (Texas, USA) today announced that their JV company, Lunda Resources, has secured a U.S. Trade and Development Agency (USTDA) grant to finance the feasibility study for the Kazozo Mine (formerly Kalaba Mine) and adjacent large-scale exploration licenses in Northwestern Zambia.

The signing ceremony, held at the Russell Senate Office Building, was officiated by Senator Ted Cruz on behalf of the U.S. Government, alongside USTDA Director Thomas Hardy and representatives of the Zambian Embassy in Washington, D.C.

This milestone aligns with the Trump Administration’s “Trade, not Aid” policy and the United States’ Critical Minerals Strategy, ensuring that Zambia’s copper and cobalt will not only contribute to job creation and GDP growth in both nations but also revive U.S. refineries with the much-needed supply of critical minerals for the global energy transition.

“This achievement is the result of years of endurance, resilience, and unwavering belief in the potential of Northwestern Zambia’s copper and cobalt resources,” said Mumena Mushinge, Chairman of Terra Metals Inc. “We are deeply grateful to Senior Chief Sailunga and Chief Ntambu, whose steadfast support and partnership have been instrumental in guiding Terra Metals’ journey. Today, with the support of USTDA, we are transforming vision into reality — building a project that will benefit both Zambia and the United States for generations to come.”

“Through Lunda Resources, we are combining U.S. and Zambian expertise to unlock world-class copper and cobalt resources that will power industries, create jobs, and strengthen long- term economic cooperation between our two countries,” added Ayo Sopitan, Chief Executive of Metalex Commodities.

Senator Ted Cruz underscored the importance of U.S. engagement in Africa’s mining sector, stating: “Critical minerals are the foundation of the future economy. The United States cannot afford to fall behind China in Africa. By working with partners like Zambia, we are ensuring secure supply chains, stronger alliances, and shared prosperity.”

About Terra Metals Inc.

Terra Metals Inc., a Delaware-based mining and energy development company, leads critical mineral development initiatives in Zambia through its subsidiaries and joint ventures.
Focused on copper, cobalt, and nickel assets, TMI integrates sustainable mining, energy transition, and community equity into all projects.

About Metalex Commodities

Metalex Commodities, headquartered in Texas, is a diversified commodities and energy firm with a strategic focus on critical minerals. Through Lunda Resources, Metalex is co- developing Zambia’s Kazozo copper–cobalt project in partnership with Terra Metals Inc.

 

Photos from the signing ceremony featuring Senator Ted Cruz, USTDA Director Thomas Hardy, and representatives of Terra Metals Inc., Metalex, and the Zambian Embassy are available for publication.

**Media Contact:**
Hailey Fase
Investor Relations
IR@terrametalsinc.com
HFase@terrametalsinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eecd7355-ecf8-4fc8-afe0-a0d8ecf1db82

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