Name of the Project
Omitiomire copper project.

Location
About 140 km north-east of Windhoek, in Namibia.

Project Owner/s
Omico Mining Corp.

Project Description
Using solvent-extraction and electrowinning (SX/EW) technology, combined with optimised hybrid solar PV and grid power, Omitiomire will produce copper cathode – a low-emission and environment-friendly copper product that will not require any further smelting or tailings storage facilities. 

The development of the deposit is based on the production of 25 000 t/y to 32 000 t/y of LME Grade A copper cathode over a 15-year life-of-mine (LoM), targeting only openpit mineralisation. LoM recovered cathode is forecast at 381 650 t.

On-site facilities will include the openpit; the crushing and agglomeration plant; the heap-leach pad, with grasshoppers for stacking and reclaiming; a ripios dump; an SX/EW processing plant; water and power supply and distribution systems; technical and operational support offices; and warehousing and accommodation facilities.

Ore will be sourced from the openpit with an overall LoM strip ratio of 5:1. The single pit will be mined in a series of seven distinct pushbacks while maintaining a constant supply of ore to the crusher.

Potential Job Creation
About 800 to 1 000 direct jobs are expected to be created. The project is projected to contribute $500-million in LoM royalties and corporate taxes.

Net Present Value/Internal Rate of Return
Using a copper price of $4.50/lb, the project estimates a pretax net present value, at an 8% discount rate, of $393-million and an internal rate of return of 23%. The payback after-tax is estimated 3.7 years.

Capital Expenditure
Initial capital, including contingency, is estimated at $364.1-million.

Planned Start/End Date
Not disclosed.

Latest Developments
The project has completed the environmental- and social-impact assessment, and the environmental and social management plan – both of which have been submitted to the relevant regulatory authorities as part of the Environmental Clearance Certificate Application to build and operate the mine.

Key Contracts, Suppliers and Consultants
Not disclosed.

Contact Details for Project Information
Tavistock Communications, on behalf of Omico Mining Corp, tel +44 20 7920 3150 email omico@tavistock.co.uk.