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Appian Capital Advisory, the investment advisor to long-term value-focused private capital funds investing in companies in metals, mining, and adjacent industries, has acquired a 95 percent controlling equity interest in the Omitiomire copper project.
Near-term production supported by strong project economics, attractive margins and upside through processing improvements, mine design optimization and potential for exploration growth
The acquisition positions Appian to unlock an attractive, undeveloped copper deposit with a clearly defined development pathway, an attractive cost position and the potential to produce ~30,000 tonnes of copper per year over a ~15 year mine life. Bringing the project into production is expected to require more than US$400 million in development capital.
Located approximately 140 kilometers northeast of Windhoek, the Omico Copper project demonstrates strong ESG credentials, including compliance with ESIA and ESMP frameworks, and a five percent ownership stake held by the Craton Foundation Trust, a community trust that supports local social and educational initiatives. The project holds a mining license valid through 2036, with the option to renew.
The acquisition strengthens Appian’s global portfolio of energy transition metals, reinforcing its strategy of building diversified, value driven portfolios of high-quality mining assets in stable jurisdictions.
Copper, in particular, remains central to Appian’s long-term investment thesis as global electrification continues to accelerate.
“Omico Copper is a technically robust development opportunity that aligns with Appian’s investment philosophy. 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,” said Michael Scherb, Founder and Chief Executive Officer of Appian.
