Appian spends $400M on Namibia's Omitiomire Copper acquisition

Appian Capital Advisory has secured a 95% stake in Namibia's Omitiomire copper project through the acquisition of Omico Copper, reinforcing its commitment to a metal expected to see surging demand.Asian Metal Copyright The mining-focused private equity firm intends to invest more than $400 million to develop the asset into a mine producing approximately 30,000 tonnes of copper annually over a 15-year mine life, with first production targeted within three years.Asian Metal Copyright The mining-focused private equity firm intends to invest more than $400 million to develop the asset into a mine producing approximately 30,000 tonnes of copper annually over a 15-year mine life, with first production targeted within three years.

Situated roughly 140 km northeast of Windhoek in Namibia's Otjozondjupa Region, Omitiomire is regarded as one of the country's most advanced undeveloped copper assets. CEO Michael Scherb also disclosed that the firm could announce two further copper acquisitions before year-end, targeting projects at similar stages of development in South America, North Africa, and southeastern Europe.
.Asian Metal Copyright Situated roughly 140 km northeast of Windhoek in Namibia's Otjozondjupa Region, Omitiomire is regarded as one of the country's most advanced undeveloped copper assetsAsian Metal Copyright