The Nambian base metal copper project has an existing mining license valid for ten years with an extension for a further 20 years. The deposit consists of copper (1.35%. In comparison, the largest copper mines in the world have average copper grades of 0.67% contained copper with big tonnage), lead (2.5%), zinc (4%) and silver (10 g/t). A feasibility study and an environmental study has been completed. The deposit is shallow and can be extracted through open pit mining. Recovery is through heap leaching. The property is close to a major centre and rail line access is easy to a major harbour for export.
Reserves (Copper Only)
Proven Reserves 42,371,100 MT
Probable Reserves 10,986,300 MT
Possible reserves 46,796,400 MT
Estimated in situ value at a copper price:
42,371,000 ton of Copper Oxide at 1.35% = 1,258,418,700.00 lbs of copper at $3.5010 per lb (LME)
In situ value = U.S. $4,405,723,868.70.