According to the released Preliminary Economic Assessment (PEA) of the Haib Copper Project in southern Namibia, the project will require 20 million cubic metres of water, and this can potentially be piped from Namibia’s Neckartal storage dam (a distance of 260km between the two).
The developer of the project, Koryx Copper Inc, released the results of the PEA this week.
Revealing their water requirements per year, they said it would be from a hybrid solution of Orange River water (30km distance) and potentially piped from Namibia’s Neckartal Dam.
Furthermore, the results have revealed that the mine will require 150MW of maximum power demand to be sourced through the nearby Namibian grid, plus supplementary hybrid renewable power and battery energy storage.
The mine is projected to have a production rate of 92,000 tonnes per annum, an upfront capital cost of US$1.56bn, and a projected mine life of 23 years.
The Haib is a porphyry copper exploration project located in the Karas Region of southern Namibia.
Commenting on the PEA, Heye Daun, Koryx Copper’s president, stated that they are encouraged by the good results of this PEA, notwithstanding the fact that it is still based on the 2024 Mineral Resource model and does not yet reflect all of the notable drill results produced since late 2024.
He said the project is made unique by a number of attributes: simplicity, scalability, low risk, ideal location at low altitude, close proximity to water and power infrastructure, with low capital intensity and operating costs.
Daun also added that the project has a predictable permitting environment and a lack of any technical, environmental, or social fatal flaws.
“This suggests that this project could be rendered shovel-ready, with an advanced feasibility study, secure water and power supply, and most major permits in place within just a few years,” he stated.
Koryx Copper Inc. has a 100% interest in Deep South Mining Company (Pty) Ltd., a Namibian subsidiary, which in turn has a 100% interest in Haib Minerals (Pty) Ltd, which holds the exploration rights to the Haib Project.
Exclusive Prospecting Licence 3140 (“EPL 3140”) allows for the exploration of base, rare and precious metals over an area of 36,589 hectares.
The Haib Mineral Resource estimate included information obtained from diamond drillholes completed between 1963 and 2024, with drilling comprising a total length of 78,934 m.
