[SMM Flash] Chinalco Unit to Acquire 95% Stake in Namibia’s Opuwo Cobalt-Copper Project with Zinc Resources

Published: Jul 3, 2026 09:26

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Chinalco (Xiong’an) Mining, a subsidiary of Aluminum Corporation of China, has agreed to acquire a 95% stake in the Opuwo Cobalt-Copper Project in Namibia from Celsius Resources for US$15 million. The Opuwo Project, located in Namibia’s Kunene Region, hosts a mineral resource estimate of 225.5 million tonnes grading 0.12% cobalt, 0.43% copper and 0.54% zinc. The resource contains approximately 259,000 tonnes of cobalt, 970,000 tonnes of copper and around 1.22 million tonnes of contained zinc, including 45.3 million tonnes in the indicated category and 180.2 million tonnes in the inferred category. Under the agreement, Chinalco (Xiong’an) Mining has also committed to invest at least US$750,000 in exploration activities and US$250,000 in metallurgical test work while regulatory approvals and licence renewals are being completed.

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