Otjihase Development Project

Otjihase consists of two underground mines (Otjihase and Matchless) and an 800ktpa copper concentrator, currently on care and maintenance. The operations were in production until September 2015, producing high quality concentrate sought after for blending.

• Mines and concentrator are being maintained ready for restart, with underground workings dewatered and faces accessible
• Excellent local infrastructure - adjacent to the Namibian capital, secure grid power and water supplies, road and/or rail transport to port and excellent local infrastructure and services
• Evaluating the potential opportunity to produce 10-12ktpa of copper in concentrate at C1 cost of US$2/lb for next 10 years for a capex of less than US$10m - making it one of the lowest capital intensity projects available globally
• Geology and metallurgy are low risk and well understood
• Operations are on granted Mining Licences, have valid Environmental Clearance Certificates and all other required permits
• Offtake agreement in place  - concentrate trucked to Walvis Bay port and sold to Louis Dreyfus at point of export