Noronex, South32 Ink $10M Deal to Enhance Namibian Copper Projects

Australian mining firms Noronex and South32 have signed a $10 million agreement to advance copper exploration and production in Namibia.

South32 will provide $10 million to support exploration and production activities at Noronex’s Humpback-Damara Copper Mines over five years, in exchange for a 60% stake in the project.

The two companies will implement new copper and base metals projects across the Kalahari Copper Belt in Namibia.

According to Noronex Technical Director and Chief Geologist, Bruce Hooper, “The Kalahari Copper Belt is one of the most under-explored copper provinces and presents huge opportunities for large-scale discoveries and the development of major new mines…”