What's Happening?
Midas Minerals has finalized the acquisition of the Otavi copper project in Namibia, following the transfer of licenses and approval from the Namibian Competition Commission. The project covers 1,776 square kilometers and includes key deposits such as T13
and Deblin. Midas has already commenced drilling activities, deploying diamond drill rigs on the T-13 copper-silver deposit. The company plans to expand exploration efforts in 2026, with additional drilling at the Deblin deposit and ongoing soil sampling to identify new targets.
Why It's Important?
The acquisition of the Otavi project marks a significant expansion for Midas Minerals, positioning the company to capitalize on the growing demand for copper, a critical component in renewable energy technologies and electric vehicles. The project's development could boost Namibia's mining sector, contributing to economic growth and job creation. As global demand for copper increases, successful exploration and resource definition at Otavi could enhance Midas's market position and attract further investment.
