Appian Capital Advisory has acquired a 95% controlling stake in Omico Copper, paving the way for a planned investment of more than N$6.6 billion to bring the copper mine into production in central Namibia.
The acquisition gives Appian control of the Omitiomire copper project, located about 140 kilometres northeast of Windhoek. The company said the project holds an estimated mineable inventory of 102 million tonnes at a grade of 0.51% copper, containing roughly 520,000 tonnes of copper.
The project is expected to produce around 30,000 tonnes of copper annually over an estimated 15-year mine life.
Appian said bringing the mine into operation will require more than N$6.6 billion (US$400 million) in development capital. The investment forms part of the company’s strategy to expand its portfolio of energy transition minerals, with copper increasingly seen as critical for global electrification and renewable energy infrastructure.
“Omico Copper is a technically robust development opportunity that aligns with Appian’s investment philosophy. The project complements our portfolio, offering near-term production alongside long-term growth potential. Our due diligence has demonstrated a clear path to strong cash generation and value creation through disciplined development and resource expansion,” said Appian founder and chief executive officer Michael W. Scherb.
“Namibia remains a trusted jurisdiction for Appian, and we look forward to delivering this project responsibly and efficiently for the benefit of all stakeholders,” he said.
A bankable feasibility study confirmed the project’s mineral resource at 123 million tonnes grading 0.51% copper.
Appian said its technical review identified opportunities to improve the project’s economics, including changing the processing method from a leach-based system to flotation and redesigning the mine schedule to reduce upfront costs.
The company also noted that the project has additional exploration potential, with targets near the existing pit that could expand the resource base and extend the life of the operation.
Appian already operates in Namibia through its ownership of Rosh Pinah Zinc Corporation, which it acquired in 2023. The company said this existing presence would support implementation through local expertise, stakeholder engagement and operational synergies.
The Omico project holds a mining licence valid until 2036, with an option for renewal. It also includes a 5% ownership stake held by the Craton Foundation Trust, which supports local education and social development initiatives
