Name

Tertiary Minerals

Legal name

Tertiary Minerals plc

Website

https://tertiaryminerals.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Mineral Exploration and Development

NAICS

Copper, Nickel, Lead, and Zinc Mining (21223), Copper, Nickel, Lead, and Zinc Mining (212230), Mining (except Oil and Gas) (212)

SIC

Metal Mining (1000), Gold And Silver Ores (1040), Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industries

Precious Metals Exploration & Project Development (IMAKAEAI), Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA)

Keywords

• Mineral exploration
• Copper exploration
• Energy transition metals
• Junior mining
• Fluorspar projects

Headquarters

HQ city

Macclesfield

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Pre-Revenue Exploration Stage: Tertiary Minerals is a pre-revenue mineral exploration company. The Company finances its activities through periodic capital raisings via share placings and convertible instruments. When projects advance, the Company seeks joint venture partnerships with major mining companies to fund further development.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Tertiary Minerals is an AIM-listed mineral exploration and development company focused on the discovery and development of energy transition and precious metal deposits. It identifies, acquires and advances early-stage exploration projects in stable, mining-friendly jurisdictions (Zambia, Nevada USA, Sweden) targeting copper, silver, zinc, gold and fluorspar. The company finances exploration through equity placings and partners with major miners (KoBold Metals, First Quantum Minerals) through staged joint venture earn-in arrangements.

Product overview

Tertiary Minerals plc is an AIM-listed mineral exploration and development company focused on energy transition and precious metals. The company operates a portfolio of exploration projects in Zambia and Nevada, USA. In Zambia, the portfolio includes five projects: Mushima North (copper-silver-zinc polymetallic discovery), Konkola West (copper with KoBold Metals joint venture), Mukai (copper with First Quantum Minerals joint venture), Jacks Copper Project, and Mupala Copper Project. In Nevada, the company operates four projects: Brunton Pass (copper-gold), Lucky Copper Prospect, Mt Tobin (silver-gold), and Paymaster (polymetallic). Additionally, the company holds the Storuman Fluorspar Project in Sweden. Projects are advanced through systematic exploration including soil sampling, geophysical surveys, reverse circulation and diamond drilling, with the aim of defining JORC-compliant mineral resources.

Differentiator

Problem solved

Functional benefit

Products and services

• Mushima North Project Polymetallic exploration project targeting silver-copper-zinc mineralisation at Target A1, located 20km east of the historical Kalengwa copper-silver mine in northwest Zambia; Phase 3 drilling intercepted 97m grading 55 g/t silver and 0.42% copper from 6m downhole.
• Konkola West Copper Project Copper exploration project covering 71.9 sq. km located 18km northwest of Chingola in the Central African Copperbelt, targeting deep extensions of the Lubambe-Mingomba-Konkola copper deposits; operated under joint venture with KoBold Metals (KoBold 51%, TMZ 39%, Mwashia 10% initial ownership, with KoBold able to earn up to 70% through staged US$6 million expenditure over 4 years).
• Mukai Copper Project Copper exploration project covering 55.4 sq. km located 125km west of Solwezi in northwestern Zambia, adjacent to First Quantum Minerals' Trident Project; operated under binding letter agreement with FQM which can earn up to 80% interest through phased exploration including 24-month due diligence with minimum US$1.5M expenditure and progressive payments up to US$2 million.
• Jacks Copper Project Copper exploration project covering 141.4 sq. km located 85km south of Luanshya in the Central African Copperbelt, targeting sediment-hosted copper mineralisation; drilling returned 6.0m grading 1.8% copper from 105m depth across a defined 350m strike length.
• Mupala Copper Project Copper exploration project covering 41.2 sq. km in the Kabompo Dome region of northwestern Zambia, underlain by the prospective Lower Roan formation with an identified copper-in-soil anomaly of 1,800m by 600m; held via Tertiary's 96%-owned Zambian subsidiary TMZ earning up to 90% interest from local partner Mwashia Resources.
• Brunton Pass Copper-Gold Project Copper-gold exploration project in central Nevada, 25km northeast of the Paradise Peak gold deposit, with reconnaissance sampling returning values up to 6.84% copper and 1.75 g/t gold.
• Lucky Copper Prospect Copper exploration prospect targeting disseminated copper mineralisation 96km northeast of Ely in northeast Nevada, with historical drilling intersecting 20.4m grading 0.65% copper from surface.
• Mt Tobin Silver-Gold Prospect Silver-gold exploration project located 73km south of Winnemucca in north-central Nevada, with identified stratiform mineralisation over a 1,200m strike length and rock samples returning up to 101 g/t silver.
• Paymaster Polymetallic Project Zinc-silver polymetallic prospect located approximately 30km southwest of Tonopah in Nevada, covering more than 390 acres.
• Storuman Fluorspar Project Fluorspar exploration project located in Sweden, reflecting the company's stated historical strategic focus on building a position in the fluorspar sector.

Quantifiable outcome

• Phase 3 drilling at Mushima North intercepted 97m grading 55 g/t silver, 0.42% copper from 6m downhole
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• First Quantum MineralscoreStrategic or Co-development Partner · 7 August 2024Binding letter agreement at Mukai Project. FQM can earn up to 80% interest through phased exploration: initial 24-month due diligence with minimum US$1.5M expenditure, then 51% by defining 80,000 tonnes contained copper, then additional 29% by completing Mining Study. Progressive payments up to US$2 million. FQM also leads drilling at Mukai copper project.
• KoBold MetalscoreStrategic or Co-development Partner · 19 December 2023Joint venture at Konkola West project. KoBold can earn up to 70% interest through staged exploration expenditure. Initial JVC ownership: KoBold 51%, TMZ 39%, Mwashia 10%. Stage 2 allows KoBold to increase to 70% through US$6 million expenditure over 4 years. KoBold is backed by Breakthrough Energy Ventures (Bill Gates), Andreessen Horowitz, T. Rowe Price, and CPP Investments. KoBold also evaluating the nearby Mingomba deposit.
• Mwashia Resources LimitedcoreStrategic or Co-development PartnerLocal Zambian partner holding exploration licences (27067-HQ-LEL, 27066-HQ-LEL, 27069-HQ-LEL, 32139-HQ-LEL) for Konkola West, Mukai, Jacks, and Mupala projects. Tertiary's 96% owned subsidiary TMZ earning up to 90% interest from Mwashia.
• Sunrise Resources plcminorOthersManagement Services Agreement whereby Sunrise Resources pays a share of the cost of head office overheads. Patrick Cheetham is also Chairman and CEO of Sunrise Resources plc.
• Copernicus Minerals plcminorStrategic or Co-development PartnerMukai Project licence (27066-HQ-LEL) being transferred to Copernicus Minerals plc. Copernicus has signed binding letter agreement with First Quantum Minerals for the joint venture.

Scale indicators10 records

Recent moves6 records

Direct peers

• Sunrise Resources plc: AIM junior explorer sharing management (Patrick Cheetham) and head-office overheads with Tertiary; comparable early-stage exploration model across multiple commodities.
• Arc Minerals: AIM-listed junior explorer focused on copper-cobalt in the Zambian Copperbelt, directly comparable in commodity focus, jurisdiction and JV-with-majors model.
• Xtract Resources: AIM-listed company with copper-gold exploration and royalty interests in Zambia and Africa, overlapping closely on geography, commodity and junior-explorer business model.
• Galileo Resources: AIM-quoted multi-commodity explorer with copper projects in Zambia/Botswana, mirroring Tertiary's African base-metals exploration and capital-light approach.
• Power Metal Resources: AIM micro-cap explorer with a diversified multi-commodity, multi-jurisdiction portfolio and JV/earn-in model, directly comparable to Tertiary's strategy.
• Kavango Resources plc: AIM-listed Southern African focused explorer (copper, gold, battery metals) where Tertiary director Donald McAlister serves; closely comparable junior explorer.

Regional players

• Premier African Minerals: AIM explorer/developer of critical and battery minerals in Africa, comparable in commodity theme and AIM funding model but focused on different countries/assets.

Broad incumbents

• Jubilee Metals Group: Larger AIM-listed metals company producing copper and PGMs in Zambia and South Africa; overlaps on Zambian copper but is a producer rather than pure explorer.
• First Quantum Minerals: Major Zambian copper producer and Tertiary's JV partner at Mukai; operates in the same Copperbelt but at vastly larger production scale.

Others

• KoBold Metals: AI-driven critical-minerals exploration company and Tertiary's JV/earn-in partner at Konkola West; an ecosystem partner rather than a direct competitor.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/tertiaryplc
• YouTubeyoutube.com/@TertiaryMinerals
• LinkedInlinkedin.com/company/tertiary-minerals-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds4 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tertiary Minerals