The Namibian Ministry of Mines and Energy has issued a two-year renewal for the exclusive prospecting license of Celsius Resources’ Opuwo cobalt project, which is held under its Namibian subsidiary Opuwo Cobalt.
The development according to the Australian company, will enable Celsius to further evaluate the project’s viability with a view to finding a suitable partner.
“With the renewal of the permit and recent positive metallurgical test work results, we anticipate this will attract potential partners in the project,” Celsius MD Peter Hume said
He said the project can potentially produce non-conflict cobalt for more than 40 years.
“This is a positive development, as we are currently reviewing the Opuwo project to understand how we can strategically unlock its potential value given the high demand for cobalt from the electric vehicles sector,” Hume said.
Celsius holds EPL 4346, which covers about 683 km2.
Celsius Resources is an exploration and development company with a portfolio of world-class copper-gold assets in the Philippines, together with an advanced cobalt asset in Namibia.
