Namibia's Ministry of Mines and Energy has extended the Haib copper licence held by Deep-South Resources for another two years.
This comes after a protracted legal struggle that was finally resolved in March when the High Court of Namibia ordered the Ministry to reopen Deep-South's licence renewal application process.
The Ministry had in June 2021 refused to renew the licence.
“The board and management of Deep-South are highly pleased to be back at Haib,” said company president and chief executive Pierre Leveille.
“With the scarcity of major copper developments on the horizon, Haib [holds] promise as a significant undeveloped deposit.
"We have begun preparations to commence the work programme and resume the development of the project as soon as possible. The plan and further information will be disclosed to our shareholders in due course."
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
