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Appian Capital Advisory has acquired a 95% stake in the Omico Copper project in Namibia, advancing a large-scale, long-life copper development targeting ~30,000 tonnes of annual production and over US$400 million in planned development capital.
Appian acquires majority stake in Omico Copper project
Appian Capital Advisory has acquired a 95% controlling interest in the Omitiomire copper project in Namibia, strengthening its position in copper development assets across stable mining jurisdictions.
The project is a long-life, mid-scale copper asset containing approximately 520,000 tonnes of copper in mineable inventory. Appian is targeting eventual production of around 30,000 tonnes of copper per year over an estimated 15-year mine life.
Bringing the project into production is expected to require more than US$400 million in development capital.
Management commentary from Michael W. Scherb
“Omico Copper is a technically robust development opportunity that aligns with Appian’s investment philosophy,” said Michael W. Scherb, Founder and CEO of Appian Capital Advisory.
“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. Namibia remains a trusted jurisdiction for Appian, and we look forward to delivering this project responsibly and efficiently for the benefit of all stakeholders.”
Michael W. Scherb, Founder and CEO of Appian Capital Advisory.
Project scale backed by feasibility study
A Bankable Feasibility Study confirms a measured and indicated resource of 123Mt at 0.51% Cu, supporting a mineable inventory of 102Mt at 0.51% Cu.
The defined resource underpins Appian’s development case for a long-life copper operation with a clearly structured pathway to production.
In announcing the deal, the company is highlighting strong project economics, attractive margins and scope for optimisation across mine design and processing.
Development pathway and production potential
Omico Copper is positioned as a near-term production opportunity within Appian’s portfolio of energy transition metals.
Planned output is approximately 30,000 tonnes of copper annually, supported by a projected ~15-year mine life and Appian also points to upside potential through processing improvements, mine scheduling optimisation and exploration growth, particularly near the existing pit area.
Processing optimisation and technical enhancements
Appian has identified multiple value creation opportunities through its technical due diligence.
A key potential optimisation is the transition from a leach-based flowsheet to a flotation processing route.
The company has also rebuilt the resource model and refined mine scheduling to reduce upfront capital requirements while maintaining execution discipline.
Further exploration targets close to the existing pit provide additional upside potential for resource expansion and extended mine life.
Strategic location in Namibia’s mining sector
The project is located approximately 140 kilometres northeast of Windhoek in Namibia, a jurisdiction described as stable and supportive of mining investment.
Omico Copper holds a mining licence valid through 2036, with renewal options available.
The project is also underpinned by ESG frameworks, including ESIA and ESMP compliance, and includes a 5% stake held by the Craton Foundation Trust, a Namibian community trust supporting social and educational initiatives.
Operational integration and regional expertise
Appian will manage the asset through its Base Metals team, which oversees operations including Rosh Pinah Zinc in Namibia and Atlantic Nickel in Brazil and the company expects operational synergies from its established presence in Namibia, particularly in stakeholder engagement and local operating execution.
Appian acquired Rosh Pinah Zinc back in 2023, strengthening its regional operating footprint and in-country expertise.
Energy transition strategy and portfolio expansion
The acquisition reinforces Appian’s broader strategy of building a diversified portfolio of high-quality energy transition metals assets in stable jurisdictions.
Copper remains a central component of the firm’s long-term investment thesis as global electrification accelerates.
This article was produced by the editorial team at Mining Outlook and published as part of the Outlook Publishing global network of B2B industry magazines.
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