Celsius Resources says potential buyers are conducting site visits to its Opuwo Cobalt Project in northern Namibia, with binding offers expected as the next stage in the sale process.
Managing director Neil Grimes said the company already has three non-binding offers under consideration as due diligence advances.
“The sale process for Opuwo is progressing very well,” Grimes said, noting that site visits have already commenced and are expected to lead to binding bids from one or more interested parties.
The Opuwo Cobalt Project is one of Celsius Resources’ flagship assets, in which the company holds a 95% interest, and is regarded as one of the most significant cobalt deposits outside the Democratic Republic of Congo.
Located in northern Namibia, the project benefits from established infrastructure, including access to grid power, water, and services, which support multiple development pathways.
Recent resource updates have reinforced the scale of the deposit. The project hosts an updated JORC-compliant indicated and inferred mineral resource of 225.5 million tonnes, grading 0.12% cobalt, 0.43% copper and 0.54% zinc.
This translates into approximately 259,000 tonnes of contained cobalt and 970,000 tonnes of contained copper, positioning Opuwo as a potential future supplier of critical minerals into global battery and energy transition markets.
The company said the updated mineral resource forms a key part of its ongoing technical and commercial re-evaluation of the project, as it weighs development options alongside the current sale process.
Celsius Resources is pursuing the divestment of Opuwo in parallel with efforts to advance its MCB copper project, where financing discussions are ongoing following the release of a definitive feasibility study earlier this year.
The company expects the next phase of the Opuwo transaction process to be marked by the submission of binding offers as interested parties complete detailed due diligence.
