• Mining

Craton assesses Omitiomire bankability

• 3 Months Ago

Craton Mining holds the licence for the Omitiomire Copper Project, where the company is currently completing a bankable study to assess the feasibility of starting the mine.

The new copper mine would be situated at the Omitiomire deposit (EPL 8550), located northeast of Windhoek, approximately 100 km from Hosea Kutako International Airport.

According to Inka van der Bijl, the company's administration manager, the feasibility study takes time, “as we are simulating the extraction of copper from ore in a lab, which takes about 200 to 300 days per phase, and at present Craton is busy with phase four testing. As such, it appears that the acid required may be less than previously expected, and thus it may be more feasible to mine; however, the testing is not yet complete."

“The latest metallurgical testing results indicate that the ore can be mined with a lower acid concentration, and a recovery of copper from ore of above 70%; however, further metallurgical testing may be required to determine the optimal amount of acid required,” she said recently.

The environmental impact assessment has been concluded and was submitted to the ministry of environment and tourism and competent authorities for their assessment, she added.

To date, Craton has only applied for drilling permits with the department of water affairs and not for water abstraction.

“Craton and specialists conducted a water supply study to ensure sustainable water supply to the mine before applying for water abstraction permits,” she explained.

Craton has not yet entered the permitting phase for the mine, as the company is conducting its bankable feasibility study to verify whether mining the Omitiomire project will be feasible. Water permits and other permits will only be applied for during the mine start-up, as some permits expire, Van der Bijl explained.

Regarding the possible need to divert the Black Nossob River, a hydrogeology report was prepared by KP Namibia, detailing a full analysis of the groundwater in, around, and below the proposed mine and the river diversion. Recently, a presentation was given to the community around the mine site, detailing the proposed design of the river diversion.

“The mine construction may start in 2025 if an investment decision is made, but the investors are presently awaiting the finalisation of the bankable feasibility study,” Van der Bijl said.