Australian-based mining firm Celsius Resources has been granted a two-year renewal for its exclusive prospecting license covering the Opuwo Cobalt-Copper Project in Namibia. The license spans approximately 683 km2 and is held by Celsius’s Namibian subsidiary, Opuwo Cobalt Holdings. The renewal will facilitate further project evaluation and the search for potential partners.
Located about 730 km northwest of Windhoek, the Opuwo Cobalt-Copper Project holds potential value, particularly in light of the soaring demand for cobalt in the electric vehicle industry.
“With the renewal of the permit and recent positive metallurgical test work results, we anticipate this will attract potential partners in the project,” Celsius Managing Director Peter Hume said.
An updated mineral resource estimate from July 1, 2021, indicates substantial cobalt, copper, and zinc reserves at Opuwo Cobalt-Copper Project.