Green Metals Refining Ltd (GMR) plans to invest N$1.03 billion (US$59 million) in its planned sulphuric acid plant to be developed near Walvis Bay.
The midstream refining company, which focuses on producing low-cost and low-carbon high-purity manganese chemicals for battery markets, confirmed that a recently completed scoping study supports the viability of the project.
The study, conducted by Namibia-based Creo Engineering Solutions, indicated that the first phase will produce 175,000 tonnes of sulphuric acid annually and deliver a pre-tax internal rate of return (IRR) of 20%.
Production is expected to scale up to 720,000 tonnes per year once the project is fully developed.
GMR Founder and Chief Executive, Derk Hartman, said the facility will help address Namibia’s current deficit in sulphuric acid supply.
“Namibia is currently a net importer of sulphuric acid, with demand expected to grow due to expanding copper, uranium, rare earth and fertiliser projects. It is expected to deliver a solid return on investment (pre-tax IRR of 20%) based on an initial capital cost of US$59 million,” he said.
In addition to supplying GMR’s planned battery-grade manganese refinery, the acid plant will cater to other mining operations, generate surplus base load electricity and supply process steam. According to Hartman, several local operators have already expressed interest in sourcing acid from the plant.
“Initially GMR set out just to produce its own sulphuric acid as a key input for our planned battery-grade manganese refinery in Namibia. As Namibia is a net importer of sulphuric acid with a large pipeline of acid-consuming projects, we have established a compelling business case that can benefit local third-party metals projects, a number of whom have already expressed interest in buying acid from our Acid Plant,” he said.
Environmental Impact Assessments for both the acid plant and the manganese refinery are underway, with a full feasibility study expected in the first half of 2026.
Hartman added that the project strengthens Namibia’s industrial prospects.
“This access to sulphuric acid will unlock the country’s potential to export value-added products and will be essential to the successful industrialisation of Namibia,” he said.
