Koryx Copper (TSXV:KRY) - Namibia's Giant Copper Deposit Gets a Major Upgrade

Why It Matters

The upgrade transforms a marginal sulfide deposit into a low‑cost, high‑margin copper producer, unlocking significant value for investors and strengthening supply in a tightening global copper market.

Key Takeaways

• New CPF flotation cuts low‑grade waste, boosting ore grade by 25%
• Flow‑sheet redesign drops cut‑off grade, improving strip ratio dramatically
• Project targets 100‑120k tonnes copper annually, entering lower cost curve
• By‑product inclusion (molybdenum, gold) adds revenue and reduces risk
• Financing hinges on credible PFS; CPF technology already proven at peers

Summary

Koryx Copper (TSXV:KRY) announced a major technical upgrade to its Namibia copper‑molybdenum‑gold project, centered on a new pre‑flotation (CPF) circuit and broader flow‑sheet simplification. The changes replace the earlier heat‑leach step with a low‑risk milling‑and‑flotation route, allowing the cut‑off grade to fall and the strip ratio to improve markedly.

The CPF technology rejects roughly 25% of feed while losing only 4‑8% of copper, raising the processed ore to just under 0.5% Cu equivalent. Combined with an updated resource model and a tighter mine plan, the upgrade lifts projected annual copper output to 100‑120 kt and moves the project into the lower half of the industry cost curve. By‑product credits from molybdenum and gold further enhance margins.

CEO Hayodon emphasized that the CPF circuit is already proven at large mines such as Bingham Canyon, and that the lab‑scale tests are now moving toward pilot‑scale validation as part of the forthcoming PFS. He warned investors that while NPV remains a useful benchmark, credible OPEX, CAPEX and flow‑sheet assumptions drive financing decisions.

If the PFS confirms these assumptions, Koryx could accelerate financing and construction, positioning the deposit as one of the few new‑build copper projects capable of delivering >100 kt per year at competitive costs. The upgrade reduces technical risk, improves economics, and makes the asset more attractive to institutional investors seeking exposure to copper’s price rally.

Original Description

Interview with Heye Daun, President & CEO of Koryx Copper

Our previous interview: https://www.cruxinvestor.com/posts/koryx-copper-inc-tsxvkry-institutional-capital-backs-haib-development-pfs-by-year-end-9455

Recording date: 4th June 2026

Koryx Copper is advancing the Haib copper-molybdenum-gold project in Namibia into what could become one of the world’s significant long-life copper operations. The company is targeting annual production of approximately 120,000 tonnes of copper, with a mine life exceeding 30 years, positioning Haib among a limited group of large-scale development-stage projects globally.

A major shift in the project’s economics comes from the introduction of coarse particle flotation (CPF), a proven processing technology that enables early rejection of about 25% of low-grade material while losing only a small fraction of contained copper. This significantly increases the effective grade of processed ore, lifting copper equivalent grades to around 0.5% in the first decade—well above historical perceptions of Haib as a low-grade deposit.

Koryx has also simplified the flowsheet by eliminating heap leaching and moving to a fully flotation-based system. This change not only reduces operational complexity but allows recovery of molybdenum and gold byproducts, adding roughly 15% to project value. Combined with an improved strip ratio and optimized mine plan, these enhancements are expected to increase net present value and key economic metrics by 20–30%.

The project will require an estimated $1.8 billion in capital expenditure, making a strategic partnership the most likely development path. Koryx is actively engaging potential partners, including major mining companies, commodity traders, and institutional investors, with joint ventures or acquisition scenarios viewed as probable outcomes.

Located in Namibia, a stable and mining-friendly jurisdiction, Haib benefits from established infrastructure, regulatory clarity, and access to power and water resources. With global copper demand rising due to electrification trends and limited new supply, Haib’s scale, improved economics, and long mine life position it as a compelling asset in the evolving copper market.

View Koryx Copper's company profile: https://www.cruxinvestor.com/companies/koryx-copper

Sign up for Crux Investor: https://cruxinvestor.com