INVESTMENT: A new mine is being planned 140 kilometres north east of WIndhoek.
INVESTMENT: A new mine is being planned 140 kilometres north east of WIndhoek.

Copper mine lined up for Hochfeld area

Augetto Graig
A new copper mine - planned to be constructed about 120 kilometres northeast of Windhoek in the Hochfeld area - is expected to extract more than 42 000 tonnes of high-quality copper.

Craton Mining and Exploration, the Namibian subsidiary of Mauritian Omico Copper Limited, expects the Omitiomire copper mine to produce between 25 000 and 30 000 tonnes of copper cathode over its lifespan.

The project's lifespan - between 13 and 15 years - is worth at least N$6.73 billion, according to a Craton report for the fourth quarter of 2023.

Craton recently launched its environmental clearance bid by instructing Environmental Compliance Consultancy to collect input regarding the planned mine until 3 April.

The mine will be built over a period of 24 months, creating around 700 new jobs, it said.

Once it is operational, around 600 people will work at the mine, with an additional support team based at the Windhoek head office. Construction is expected to begin as early as next year under mining licence 197.

Craton has been developing the mine since 2007 and expects to have its feasibility study ready by June.

According to the company, mine employees will work weekly shifts and will be accommodated on site.

Workshops, accommodation facilities, a dining hall and reception facilities must be built at the site, as well as the 250-metre open pit mine, which will also feature waste rock piles, infrastructure for water management, offices, communication infrastructure and a processing plant.

The accommodation facilities will consist of a kitchen, dining hall, laundry room, a recreation centre and possibly sports fields, Craton said.

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Namibian Sun 2024-05-19

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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 414.72/OZ UP +1.55% | Copper US$ 5.04/lb UP +4.12% | Zinc US$ 3 059.30/T UP 0.11% | Brent Crude Oil US$ 84.28/BBP UP +0.60% | Platinum US$ 1 084.88/OZ UP +2.19%