From an AI search today:
The Haib Copper project, owned by Koryx Copper (formerly Deep-South Resources), is a significant undertaking in Namibia. Let’s explore its potential:
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Deposit Overview:
- The Haib project boasts a substantial copper deposit with over 1 billion tonnes of ore containing approximately 0.31% copper.
- The project is amenable to bioheap-leaching, a sustainable extraction method.
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Production Estimates:
- The Preliminary Economic Assessment (PEA) envisions a 24-year mine life with an annual throughput of 20 million tonnes.
- Estimated copper recovery stands at 80%.
- Expected production includes 35,332 tons per year of copper cathode and 51,081 tons per year of copper sulphate.
- The mine design relies on open-pit methods, with drill and blast operations for the hard-rock material.
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Environmental Considerations:
- The project avoids tailings by rehabilitating spent heaps in place.
- Tailings from pH adjustment and iron removal processes will be disposed onto spent heaps using filtered dry-stacked tailings.
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Economic Metrics:
- The project demonstrates a pre-tax net present value (NPV) of $2.26 billion at a 7.5% discount rate.
- Its internal rate of return (IRR) is 52.2%, with a payback period of 2.4 years.
- Capital expenditure is estimated at $341 million.
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Recent Developments:
- Koryx Copper filed an amended PEA technical report in January 2024, maintaining key components such as resources, metallurgy, mine plan, cost estimates, and environmental matters.
- Modifications include adding a pit constraint, adjusting cutoff grade recommendations, and considering a prefeasibility study before a feasibility study.
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Industry Impact:
- Given the critical role of copper in various sectors, including EV batteries and renewable energy, Koryx Copper’s large-scale deposits position it well to contribute significantly to the market.
- The project’s potential may attract major industry players.
In summary, the Haib Copper project holds substantial promise, both economically and environmentally, making it a noteworthy player in the global copper landscape. ^(source))