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On offer 60% equity for US$27.7m investment.
The mine is a 40-year-old redundant mine based in Namibia that used old extraction technology to extract copper and silver. The mine operated in the 70/80s and have left these large tailing stockpiles the owner intends to process.
This mine has 5.5 million tons of tailings and 60 000tons of dry sludge in the slimes dam (Copper at 1.5%). The mine itself is 1500has in size with the potential to mine additional copper and silver. The owner does however need to conduct drilling to assess the situation and compile a full Geo report on the reserves.
This will run concurrently with the tailings processing. The first phase of the mine operation will be to mine the existing stockpile on the surface. The process is used to extract the minerals will be done chemically which is found to be better suited to these minerals in order to produce a Copper and Silver concentrate. This is sold in bulk bags and exported for further separation at a smelter.
This will be for the first phase only until the processing facility is operational. The copper sulfate they produce presently gets a price of 120% of LME. The first phase will be operational within 4-6 mths. Phase 2 will include the development of the processing plant and smelter. The full plant will be operational in 12-18 mths.
Projections show the investor will be able to recover the investment in 2.5 years.
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