Koryx Announces Updated PEA Results for the Haib Copper Project, Southern Namibia

Executive Summary

• Koryx Copper released a PEA for its 100 % owned Haib copper‑molybdenum project in southern Namibia, showing a post‑tax NPV8 % of US$1.351 bn and a post‑tax IRR of 20.1 %.
• The study forecasts 92 ktpa of payable copper production (average years 1‑10) over a 23‑year mine life with low cash costs (US$1.81/lb C1, US$2.05/lb AISC for the first decade).
• Upfront capital is estimated at US$1.557 bn (incl. 10 % contingency) with LOM sustaining capital of US$543 m; total project capex (including contingency) reaches roughly US$2.1 bn.

Key Details

• Project Scope & Ownership – Open‑pit sulphide Cu/Mo project, formerly owned by Rio Tinto and Teck; now 100 % owned by Koryx through Deep South Mining Co. (Pty) Ltd. and Haib Minerals (Pty) Ltd.
• Economic Highlights
• Post‑tax NPV8 %: US$1.351 bn (pre‑tax US$2.358 bn).
• Post‑tax IRR: 20.1 % (pre‑tax 25.2 %).
• Payback period: ~3.9 years (post‑tax).
• Capital intensity: US$16,871/t of payable Cu (years 1‑10); US$17,702/t over LOM.
• Production Parameters
• Annual payable copper: 92 ktpa (average years 1‑10), 88 ktpa LOM average.
• Mine life: 23 years; total mineralised material mined ≈2,184 Mt.
• Processing capacity: 28 Mtpa milling & flotation (high‑grade) + 7 Mtpa heap leach (low‑grade).
• Recovery rates: 89 % from mill/float, 74 % from heap leach.
• Cost Structure
• Upfront construction capex: US$1.557 bn (incl. 10 % contingency).
• LOM sustaining capex: US$543 m (including US$149 m HL construction in years 1‑2).
• C1 cash cost (years 1‑10): US$1.81/lb Cu; AISC (years 1‑10): US$2.05/lb Cu.
• C1 cash cost LOM: US$2.21/lb Cu; AISC LOM: US$2.47/lb Cu.
• Infrastructure & Power – Maximum power demand 150 MW, sourced from Namibian grid with hybrid renewable and battery storage supplement. Water supply via Orange River (30 km) plus potential pipeline from Neckartal Dam (260 km).
• Permitting – Mining licence application submitted; ESIA and public consultation underway with generally positive community response.
• Metallurgical Highlights
• Copper recovery in mill/float: ~89 % (average); heap leach: ~74 %.
• Mo recovery from concentrate: 45‑70 %; Au credits present in Cu concentrate.
• Technical Team & Consultants – Lead consultant DRA Global; additional consultants KP, Qubeka, MSA Group, SRK, MJO Ingeniería y Consultores en Metalurgia.
• Upcoming Milestones – Updated Mineral Resource Estimate and technical study expected H2 2026; live investor webinar scheduled for 5 Sept 2025 (registration link provided).

Notable Quotes

“We are highly encouraged with the very good results of this PEA… Haib stands out as an emerging, top‑quality, near‑term African copper development project.” – Heye Daun, President & CEO, Koryx Copper.