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Opuwo Cobalt Project

Celsius Resources has a 95% interest in the highly prospective Opuwo Cobalt Project in northern Namibia.

The project is large scale and located in a mining friendly, politically stable and safe location with excellent infrastructure.

Please view our most recent Opuwo JORC Mineral Resource announcement here which shows a mineral resource more than double original estimates.

It has ample access to grid power, water and services allowing a range of development options.

Aligned with Celsius Resources’ strategy of continuing to identify and develop world class, high grade assets, the Opuwo Cobalt Project represents significant global potential.

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Development pathway

  • Assessing ways of improving project viability given recent increases in the cobalt and copper prices
  • Work has commenced on a Mineral Resource update which is expected to be completed in the June Quarter.
  • Further metallurgical test work programs being considered for implementation in 2021.
  • Awaiting feedback from the Ministry of Environment and Tourism on the EIA Scoping Report submitted (along
    with any public submissions).
  • Priority is to review the project and understand how best to unlock potential value for the benefit if the Company and its shareholders.

Cobalt is a key element in the production of lithium-ion batteries used in electric vehicles and home battery storage.

A Bloomberg New Energy Finance study expects EVs to hit 10% of global passenger vehicle sales by 2025, rising to 28% in 2030 and 58% in 2040.

The electrification of transport is now one of the major trends of the 21st century and seen by scientists and governments as the key to reducing carbon in the atmosphere.

Its ability to stand up to high temperatures also makes cobalt a highly suitable element for developing super alloys such as those used in jet turbine engines.

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