Investment firm Appian Capital Advisory will spend US$400 million developing the Omitiomire copper project in Namibia, adding momentum to efforts to revive the country’s struggling mining sector, the company said Thursday.
Appian said the project is expected to produce about 30,000 tonnes of copper annually over a mine life of roughly 15 years, with total recoverable resources estimated at around 520,000 tonnes.
The firm has acquired a 95% stake in the project and said it will now advance development work needed to bring the mine into production. It did not disclose a construction timeline or expected start date for output.
No details were provided on the financing structure of the investment or the key assumptions behind the feasibility study. Appian said it was in talks with potential partners over future offtake agreements.
The project is part of a wider push to revive Namibia’s copper industry, which has seen production decline sharply over the past decade following the closure of several mines.
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Namibia currently has only one operating industrial copper mine, Tschudi, which resumed activity in 2024 after being previously suspended. Output figures have not been disclosed.
Other projects in development include Koryx Copper’s Haib project, which targets annual production of about 88,000 tonnes, as well as early-stage developments at Hope & Gorob and exploration work by junior miners Kaoko Metals and Midas Minerals. The Kombat mine is also expected to restart operations later this year.
Although Namibia’s output remains small compared with major African producers such as the Democratic Republic of Congo and Zambia, new investments are being driven by expectations of a long-term global copper deficit.
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The International Energy Agency has warned that global copper supply could fall short of demand by up to 30% by 2035, driven by electrification and energy transition projects.
Appian said it expects copper demand to continue rising through 2035, while supply constraints at existing mines will support prices over the medium term.
Analysts say the success of Namibia’s emerging copper pipeline will depend on financing, infrastructure development and the ability of projects to move from feasibility studies to production.
The Haib project is expected to publish a pre-feasibility study in the fourth quarter of 2026, but further studies and funding decisions will be required before construction can begin.
If successful, the Omitiomire project would mark one of the largest additions to Namibia’s copper output in years, as the country seeks to re-establish itself on the global mining map.
