Koryx Copper Inc. is laying out an ambitious roadmap to transform its Haib Copper Project into a world-class, long-life, low-cost mine. With an updated Preliminary Economic Assessment (PEA) planned for the third quarter of 2025 and an improved mineral resource estimate and enhanced technical study scheduled for the first half of 2026, the company aims to transform what it calls a “formerly forgotten project” into Africa’s next major copper operation.
“As we incrementally de-risk and improve the Haib copper project our confidence continues to grow that we will turn this formerly forgotten project into Africa’s next simple, but large and world-class copper mine,” Koryx President and CEO Heye Daun said in its 2025 project update.
Systematic exploration approach
Under Daun’s leadership, the company has focused on a methodical, multi-pronged approach to prove Haib’s economic potential while addressing the technical challenges typical of an advanced-stage, undeveloped porphyry copper project. Over the last six months alone, Koryx has advanced its drilling program, conducted metallurgical testwork, refined its process flowsheet, and undertaken in-depth infrastructure trade-off studies, all while completing comprehensive environmental baseline assessments. These efforts lay the groundwork for regulatory approvals in Namibia and build confidence among investors, offtakers, and the local community.
Increased drilling pace
One of the standout achievements during this period has been the significant increase in drilling activity. Since January 2025, Koryx has operated four diamond drill rigs on site, with plans to bring in four additional rigs in the second half of the year. By June 2025, more than 11,000 metres of its planned 55,000-metre Phase 2 diamond drilling program had been completed.
The company says this intensive program is designed to deliver a much higher-resolution geological model, refine resource classifications, and define structural controls on higher-grade zones that could be selectively mined for improved early project economics. Assay results reported so far have underscored the deposit’s consistency and upside potential. Highlights include intercepts of 88 metres at 0.41% copper and 228 metres at 0.34% copper, with short, higher-grade zones hitting up to 0.97% copper.
Recoveries and grade
According to Koryx, these results reinforce the thesis that Haib’s mineralisation is continuous and predictable at the scale needed for a large open-pit mine, while also offering pockets of higher-grade material that could be blended to lift average head grades or enhance early cash flow. “We’re expediting our drill program to produce an improved mineral resource and capture additional project value during H1 of 2026,” Daun noted in the update.
Built on legacy data
Beyond the drills, metallurgical testwork has been at the heart of the company’s technical strategy. Since January 2025, Koryx has conducted a rigorous, large-scale test program on multiple mineralised samples drawn from across Haib’s extensive mineralised system. These samples were deliberately selected to capture the variability of copper, molybdenum, and gold content across different zones of the deposit.
Importantly, Koryx’s team didn’t start from scratch. The company is built on more than two decades of historic metallurgical work performed by major mining houses like Rio Tinto, Teck, and Great Fitzroy Mines. That legacy data provided valuable parameters, which Koryx has modernised and enhanced through its 2025 program, adapting reagent suites and process conditions to deliver better recoveries and lower costs.
Testing and results
The results have been described as “highly encouraging” in the company’s update. Flotation testing has achieved copper recoveries exceeding 92% after primary grinding to a particle size of 120–150 µm. Overall copper recovery averaged around 89% for material at Haib’s typical resource grade of 0.35% copper. Concentrate grades of 20–25% copper have been consistently produced at laboratory scale. Tailings assays have shown residual copper levels as low as 0.035%, confirming efficient separation and minimal loss.
Meanwhile, molybdenum recovery rates have ranged from 45% to 70%, with ongoing optimisation work to ensure that molybdenum by-product revenue is fully captured.
“These results support our strategy for a simple milling & flotation process base case, producing copper in clean concentrates,” Daun said. He added that Koryx also aims to produce copper cathode from a heap-leach expansion treating lower-grade material not suitable for milling.
Engineering and oversight
To ensure the quality and independence of its work, Koryx has engaged a diverse group of well-respected, specialist contractors and consultants. Geolabs in South Africa has managed comminution testing to define crushing and milling energy requirements. Maelgwyn, SGS, Rados International Technologies, TOMRA, and Eriez, all in South Africa, have delivered a comprehensive program of mineral sorting, dense medium separation, analytical and mineralogical work, milling tests, and both coarse particle and conventional flotation testing.
Ore in Australia has evaluated advanced ore sorting technologies to enhance Haib’s pre-concentration potential further. Hydrometallurgical leach tests have been conducted by Mintek in South Africa, building on a successful bacterial leach program completed in 2020. Overall process coordination, flowsheet design, and study oversight have been provided by DRA in South Africa and MJO Ingeniera y Consultores in Chile.
Column leach testing
In its 2025 update, Koryx highlighted that this work wasn’t purely theoretical. Column leach tests also began in June 2025, aimed at assessing bacterial leaching, three different chloride leach processes, and nitrate leach technologies on lower-grade material with a copper content in the 0.175%–0.275% range. This 6–12-month program is expected to yield actionable results by early 2026, informing the design of a potential heap-leach circuit that would allow Haib to treat ore unsuitable for milling and flotation profitably.
Plant and power
Koryx has completed extensive trade-off studies to finalise the preferred processing flowsheet. The selected design includes primary gyratory crushing, secondary cone crushing, HPGR tertiary crushing, and single-stage ball milling aimed at achieving an 80% passing 120 µm grind, with flexibility to operate at 150 µm if needed. Coarse particle flotation (CPF) has been demonstrated to add value, enabling higher throughput at lower energy demand.
For tailings management, Koryx settled on a valley impoundment design using thickened slurry pumped to a lined, zoned rockfill embankment storage facility with capacity for 450 Mt of flotation tails. The company has also completed transport studies confirming Lüderitz as the preferred port for exporting copper concentrate to international smelters.
Power and water
Power supply, a critical challenge in southern Namibia’s arid environment, has been addressed through studies recommending a hybrid approach combining grid upgrades via the Harib Substation with on-site solar PV generation. This plan is designed to meet the project’s peak power demand of approximately 145 MVA while reducing carbon emissions and minimising reliance on grid power alone.
Water supply planning has also advanced. Koryx has narrowed its options to abstraction from the nearby Orange River, just 9 km from the site, or transfer from the Neckartal Dam, 250 km away. Both alternatives are being costed and evaluated in collaboration with NamWater.
Roads and housing
At the mine-site scale, Koryx’s planning includes up to 60 km of internal access roads connecting accommodation facilities, the plant, water and power infrastructure, and the tailings storage facility. A suitable camp location has been identified in the relatively flat western part of the licence area, with high-level plans for construction and operational housing requirements.
ESIA preparations underway
Environmental and social performance remains a core pillar.
Koryx confirmed that it is preparing a comprehensive Environmental and Social Impact Assessment (ESIA) and an Environmental and Social Management Plan (ESMP), both aligned with IFC Performance Standards. The goal is to secure Namibia’s Environmental Clearance Certificate by the end of 2025.
Baseline studies in biodiversity, aquatic ecology, hydrology, geochemistry, air quality, noise, archaeology, and socio-economics have either been completed or are in progress.
Routine monitoring of groundwater, surface water, and air quality is already in place to inform early design decisions and ensure compliance with Namibian regulatory requirements.
Looking ahead
As the second half of 2025 begins, Koryx says its focus will remain on completing its large-scale drilling program, finalising pre-concentration testing, advancing column leach tests, and publishing the updated PEA. An improved mineral resource estimate and an enhanced technical study are targeted for the first half of 2026.
Daun summed up the company’s ambition: “We’re confident in our ability to unlock the Haib copper project’s potential and deliver a simple, robust, large-scale mining operation that supports Namibia’s economic development and the global energy transition.”
