Staff Writer
Canadian-listed copper developer Koryx Copper Incorporated has made amendments to its management information circular ahead of a special shareholder meeting scheduled for 15 October.
The company said the changes were required due to a labour dispute in British Columbia, which could delay regulatory approvals for its planned continuation and redomiciliation from Canada to Luxembourg.
At the meeting, shareholders will vote on Koryx’s proposal to transfer its registered office and central administration to the Grand Duchy of Luxembourg, where it will operate as Koryx Copper S.A., a public limited company. The move is aimed at improving Koryx’s international corporate flexibility and access to European capital markets.
Under the revised timeline, the effective date of the move will now depend on two factors—the company’s authorisation from the British Columbia Registrar of Companies and the signing of the notarial deed in Luxembourg.
Apart from the adjusted timing, all other resolutions remain unchanged. Koryx’s board and management have reaffirmed their recommendation that shareholders support the proposed changes.
Koryx Copper, listed in both Canada and Namibia, is developing the Haib Copper Project in southern Namibia, one of the world’s oldest known porphyry copper deposits. The project hosts an indicated resource of 414 million tonnes at 0.35% copper and an inferred resource of 345 million tonnes at 0.33% copper, according to the company’s 2024 NI 43-101 technical report.
Drilling and metal testing show that Haib could be a long-lasting and inexpensive open-pit mine, with options for recovering copper through both sulphide flotation and heap leaching.
In April, Koryx completed all requirements for a dual listing on the Namibian Stock Exchange (NSX).
Heye Daun, President and CEO of Koryx Copper, said the dual listing reflects the company’s long-term commitment to Namibia and its mining sector.
Daun said the listing marked an important milestone that demonstrated Koryx’s confidence in Namibia’s well-developed capital markets. He said the company has a strong local shareholder base, and the listing will make it easier for Namibian retail and institutional investors to trade Koryx shares and participate in future financings.
He added that the dual listing deepens Koryx’s connection with local investors and strengthens its foundation for long-term growth, ensuring Namibians have a direct stake in the country’s resource-driven prosperity.
Caption
Koryx Copper is developing the Haib Copper Project in the south of Namibia.
- Photo: Koryx Copper
