A new preliminary study has revealed that a massive copper deposit in southern Namibia could become one of Africa's most significant new mining projects, positioning developer Koryx Copper as a key player in the global copper supply chain.
The recently completed Preliminary Economic Assessment (PEA) for Koryx's flagship Haib copper project outlines a future large-scale, open-pit mine with the potential to produce 92,000 tonnes of copper annually for 23 years.
The study forecasts a robust post-tax net present value of $1.35 billion, signalling a strong economic return for the Toronto Venture Exchange-listed company.
Company president and chief executive Heye Daun was effusive in his praise for the project's potential.
"We are highly encouraged with the very good results of this PEA, notwithstanding the fact that it is still based on the 2024 Mineral Resource model and does not yet reflect all of the excellent drill results produced since late 2024," he said.
The Haib project stands out as a premier African copper development opportunity.
"With a Cu production rate of 92,000 tonnes per annum... Haib stands out as an emerging, top-quality, near-term African copper development project," Daun said.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
