Koryx Copper values Haib at US$1.35b over 23-year mine life
Koryx Copper Inc. has released the updated Preliminary Economic Assessment (PEA) results for its flagship Haib Copper Project in southern Namibia, projecting an after-tax net present value of US$1.351 billion at an 8% discount rate and a 23-year mine life.
The PEA outlines average annual payable copper production of 92 000 tonnes during the first decade at competitive operating costs of US$1.81 per pound (C1 cash costs) and US$2.05 per pound (all-in sustaining costs). Post-tax metrics indicate an internal rate of return of 20.1% and a 3.9-year payback period, positioning Haib as one of Africa’s most credible near-term copper development projects.
Upfront construction capital is estimated at US$1.559 billion, including a 10% contingency, with sustaining capital over the life of the mine forecast at US$543 million. Capital intensity is calculated at US$16,871 per tonne of annual payable copper in the first decade, rising to US$17,702 per tonne over the life of mine. Pre-tax figures indicate a net present value of US$2.358 billion and a 25.2% IRR.
Limited copper cathode production
The production profile is based on a conventional 28-million-tonne-per-annum milling and flotation plant, supplemented by a seven-million-tonne-per-annum heap leach and solvent extraction–electrowinning circuit. This would yield copper-molybdenum concentrate with additional gold credits, alongside limited copper cathode production. Recoveries are modelled at 89% for milling and flotation and 74% for heap leaching.
The mine’s maximum power demand is estimated at 150 megawatts, supplied primarily through Namibia’s national grid, complemented by hybrid renewable sources and battery storage. Water requirements are set at 20 million cubic metres per year, with potential sources including the Orange River (30 km from the site) and the Neckartal Dam (260 km away). Haib’s proximity to the South African border and the B1 highway provides logistical advantages, with access to established infrastructure for both power and transport.
Koryx has submitted its mining licence application, with environmental and social impact assessments underway. Specialist studies and public consultations have been broadly positive, with community interest focused on job creation, regional economic growth, and infrastructure development.
Potential
Heye Daun, Koryx Copper’s President and CEO, said the PEA confirms Haib’s potential as a large-scale, low-cost, long-life operation. “With annual copper production of 92 000 tonnes, a post-tax NPV8 of more than US$1.35 billion, upfront capital of US$1.56 billion, and a 23-year mine life, Haib stands out as an emerging, top-quality African copper development project.”
The study was led by Koryx’s in-house team with contributions from DRA Global, Knight Piésold, Qubeka Mining Consultants, MSA Group, SRK Consulting, and MJO Ingeniería y Consultores en Metalurgia.
Haib is a porphyry copper project located in the //Kharas Region, six kilometres north of the South African border and 12–15 kilometres east of the B1 highway. The current PEA is based on the August 2024 Mineral Resource Estimate and does not include drilling completed since then.
Updated drilling, geological remodelling, metallurgical test work, and ore-sorting studies will inform a revised feasibility-level study planned for the second half of 2026.
The PEA outlines average annual payable copper production of 92 000 tonnes during the first decade at competitive operating costs of US$1.81 per pound (C1 cash costs) and US$2.05 per pound (all-in sustaining costs). Post-tax metrics indicate an internal rate of return of 20.1% and a 3.9-year payback period, positioning Haib as one of Africa’s most credible near-term copper development projects.
Upfront construction capital is estimated at US$1.559 billion, including a 10% contingency, with sustaining capital over the life of the mine forecast at US$543 million. Capital intensity is calculated at US$16,871 per tonne of annual payable copper in the first decade, rising to US$17,702 per tonne over the life of mine. Pre-tax figures indicate a net present value of US$2.358 billion and a 25.2% IRR.
Limited copper cathode production
The production profile is based on a conventional 28-million-tonne-per-annum milling and flotation plant, supplemented by a seven-million-tonne-per-annum heap leach and solvent extraction–electrowinning circuit. This would yield copper-molybdenum concentrate with additional gold credits, alongside limited copper cathode production. Recoveries are modelled at 89% for milling and flotation and 74% for heap leaching.
The mine’s maximum power demand is estimated at 150 megawatts, supplied primarily through Namibia’s national grid, complemented by hybrid renewable sources and battery storage. Water requirements are set at 20 million cubic metres per year, with potential sources including the Orange River (30 km from the site) and the Neckartal Dam (260 km away). Haib’s proximity to the South African border and the B1 highway provides logistical advantages, with access to established infrastructure for both power and transport.
Koryx has submitted its mining licence application, with environmental and social impact assessments underway. Specialist studies and public consultations have been broadly positive, with community interest focused on job creation, regional economic growth, and infrastructure development.
Potential
Heye Daun, Koryx Copper’s President and CEO, said the PEA confirms Haib’s potential as a large-scale, low-cost, long-life operation. “With annual copper production of 92 000 tonnes, a post-tax NPV8 of more than US$1.35 billion, upfront capital of US$1.56 billion, and a 23-year mine life, Haib stands out as an emerging, top-quality African copper development project.”
The study was led by Koryx’s in-house team with contributions from DRA Global, Knight Piésold, Qubeka Mining Consultants, MSA Group, SRK Consulting, and MJO Ingeniería y Consultores en Metalurgia.
Haib is a porphyry copper project located in the //Kharas Region, six kilometres north of the South African border and 12–15 kilometres east of the B1 highway. The current PEA is based on the August 2024 Mineral Resource Estimate and does not include drilling completed since then.
Updated drilling, geological remodelling, metallurgical test work, and ore-sorting studies will inform a revised feasibility-level study planned for the second half of 2026.
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