Craton Resources Limited, the Namibian registered subsidiary of the Australian based International Base Metals Limited, is proposing to develop a copper oxide mine, on the farm Groot Omitiomire,120km northeast of Windhoek in the Khomas Region in Namibia. Prospecting activities and exploratory drilling have been ongoing since 2007 and a sizeable copper deposit has since been delineated. IBML has planned a two-stage approach to bring Omitiomire into production: Phase 1: The initial project is based on near-surface oxide and mixed oxide-sulphide copper. During Phase 2 Craton expects to be able to develop a larger project based on the deeper sulphide copper resource at Omitiomire plus other copper resources which might be discovered within trucking distance of Omitiomire. Estimated project value: $38.5 million.
R 100 million +
Invited / Negotiated
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