In early 2017 it became apparent at Tschudi that the leaching of mixed (oxide and sulphide) ore was significantly slower than predicted  – impacting production in the first half of the year. Remedial action including increasing ore production and stacking, and construction of additional leach pads, resulted in nameplate production being resumed by the end of Q3. At the end of the year the company announced the intended acquisition of the Kitumba Copper Deposit in Zambia and continues to evaluate restarting the Otjihase Mine into a rising copper price environment.

Tschudi achieved record copper production of 1,506 tonnes in March – 6% above nameplate. However, excessive water encountered in the pit led to a decrease in ore supply and subsequently lower copper production during the middle of the year. Remedial action brought the water under control and by Q4 production was again exceeding nameplate by 6% at a C1 cost of US$4,222/tonne copper. During the latter half of the year the company began evaluation of restart options for the Otjihase Mine.

At Tschudi the first ore was stacked on the heap leach pads in January and first LME Grade A copper cathode was produced in February. By December Tschudi reached nameplate capacity of 17,000tpa. In September, due to continued low copper prices, production at the Otjihase Operations was suspended with both mines and the concentrator being placed on care and maintenance and converted to Project Development status.

Construction of the Tschudi Mine heap leach pads and processing plant commenced early in the year. By mid-year the mining contractor had mobilised to site and waste stripping commenced.

The Company was granted an Environmental Clearance Certificate for the development of the Tschudi Copper Mine by the Namibian Ministry of Environment and Tourism. Drawdown of the Tschudi loan commenced.

The Company completed the Bankable Feasibility Study for the Tschudi Project and signed a term sheet with Orion Mine Finance providing 100% debt funding for the project.

The Company acquired the insolvent assets of Ongopolo, a Namibian copper producer, with the objective of turning around the performance of the mining and smelting operations with a capital injection.