Mining Intelligence and News
Namibia

Omitiomire Project

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Summary

Mine TypeOpen Pit
Study CompletedFeasibility
StagePermitting
Commodities
  • Copper
Mining Method
  • Truck & Shovel / Loader
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SnapshotOmitiomire is a fully de-risked copper project with a completed Bankable Feasibility Study, a valid mining licence through 2036, and environmental approvals submitted for construction and operation. Over US$30 million has already been invested in technical and regulatory development.

The project is now positioned to transition into execution, with a strategic partner being sought to advance to production. Designed with a strong sustainability profile, Omitiomire features a closed water system, advanced evaporation management, and a heap leach process that uses only one-third of the water compared to conventional flotation.

As of November 2024, the Project has completed the Environmental and Social Impact Assessment (ESIA) and the Environmental and Social Management Plan (ESMP) – both of which have been submitted to the relevant regulatory authorities as part of the Environmental Clearance Certificate Application to construct and operate the mine.

Owners

SourceSource
CompanyInterestOwnership
Craton Foundation Trust 5 % Indirect
International Base Metals Ltd. 44.99 % Indirect
Greenstone Resources II LP 51.02 % Indirect
Omico Copper Ltd. (operator) 100 % Indirect
Ownership Tree
Omico Mining Corp. is a joint venture between Greenstone Resources LP (53.7%), a private equity fund, and International Base Metals Limited (46.3%). The joint venture is managed by Greenstone Resources LP.

Omico Copper Ltd., through its 95%-owned Namibian subsidiary, Craton Mining and Exploration (Pty) Ltd, holds Mining Licence ML197 and Exclusive Prospecting Licence EPL8550, together licence area which makes up the Omitiomire Copper Project.

5% of the project is held by a Namibian incorporated, independently managed community trust (Craton Foundation Trust).

Contractors

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Deposit type

  • Metamorphic hosted

Summary:

The Omitiomire Copper Deposit lies within the Kalahari Copperbelt. Geophysics and regional work have suggested an along-strike correlation of geology between Zambia, Botswana and Namibia. Some of the major copper deposits of northern Zambia, including Lumwana and Sentinel/Kalumbila, are associated with geological formations that share similarities with Omitiomire in the Damara Belt and other deposits in the Ghanzi-Chobe Belt.

Mineralisation occurs in the Ekuja Dome inlier, which covers an area of approximately 15 km x 12 km. The Dome is one of three dome-like gneisses penetrating through overlying high-grade metasediments. Rocks are mainly felsic gneiss with subordinate amphibolite and mafic schists, probably of volcanic origin. The Dome system is similar to Sandfire’s Motheo in Botswana and other regional deposits.

Deposit geology comprises two main rock packages:
• Mafic rocks, hosting the Cu mineralisation, mainly of quartz, plagioclase, dark biotite and amphibole. Mineralised banding up to 100m thick;
• Surrounding leuco-gneisses usually unmineralized, quartz, plagioclase, variable amounts of biotite and trace amounts of garnet and sphene.

Orebody strike length of 3.5km, open at depth.

Reserves

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Mining Methods

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Heavy Mobile Equipment

Fleet data has not been reported.

Comminution

Crushers and Mills

Milling equipment has not been reported.

Processing

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Commodity Production

CommodityUnitsAvg. AnnualLOM
Copper t 26,800381,650
All production numbers are expressed as cathode.

Operational metrics

Metrics
Annual processing capacity  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
All-in sustaining costs (AISC) Copper USD  ....  Subscribe
C1 cash costs Copper USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
* According to 2024 study / presentation.

Operating Costs

CurrencyAverage
OP mining costs ($/t mined) USD  ....  Subscribe
Processing costs ($/t milled) USD  ....  Subscribe
G&A ($/t milled) USD  ....  Subscribe
* According to 2024 study.

Project Costs

MetricsUnitsLOM Total
Pre-Production capital costs $M USD  ......  Subscribe
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Gross revenue (LOM) $M USD  ......  Subscribe
EBITDA (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Sep 2, 2025

Workforce

Total WorkforceYear
...... Subscription required 2024

Aerial view:

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