Lycopodium won a $19 million contract from Barrick Lumwana to conduct the feasibility study and basic engineering for expanding the Lumwana copper mine in Zambia.

The project, with a capital investment of nearly US$2 billion ($3.05 billion), aims to complete the feasibility study by the end of 2024, with expanded process plant production expected in 2028.

The mine's expansion is projected to boost annual copper production from 150,000 to 240,000 tonnes, extending the mine life to 36 years.

Lumwana, located in Zambia's Copperbelt, is a conventional open-pit operation.