Chamwe Kaira
Koryx Copper has reported an increase in the estimated copper at its Haib project in southern Namibia, raising the total from 2.6 million tonnes to 3.5 million tonnes.
The company said the higher estimate could extend the life of the project.
Haib is planned as a large open-pit mine where copper will be extracted and processed on site. It is expected to produce about 9 000 tonnes of copper per year.
An earlier study showed the project could be viable. The updated figures point to a longer mine life and an improved outlook.
Koryx Copper chief executive Heye Daun said more of the material is now considered usable rather than waste, which improves the project’s potential.
He said the higher-grade portion of the deposit could support more than 15 years of mining.
When combined with lower-grade material, the mine life could extend beyond 35 years, up from a previous estimate of 24 years.
The company plans to increase exploration. It expects to deploy 14 drilling rigs and complete 50 000 metres of drilling before mid-2026 to better define the resource.
Haib is one of the oldest known copper deposits and covers a large area. Recent drilling and updated analysis have improved understanding of the deposit.
The company stated that the project also includes other metals, such as gold and molybdenum, which could be extracted alongside copper.
The updated estimate points to a longer project life and increased production potential.
