Aim-listed copper miner Weatherly International has received regulatory approval from the Namibian Competition Commission for its acquisition of a further 65% interest in China Africa Resources Namibia (Carn) from Hong Kong East China Non-Ferrous Mineral Resources.
Weatherly now has a 90% interest in Carn, which owns 100% of the high-grade Berg Aukas underground zinc/lead/vanadium project, near Grootfontein, in Namibia.
A prefeasibility study (PFS) for Berg Aukus was previously published, which indicated a Joint Ore Reserves Committee-compliant mineral resource estimate of 1.23-million tonnes at 15.47% zinc, 3.84% lead and 0.33% vanadium oxide.
The study included a probable reserve estimate of 1.7-million tonnes at 11.16% zinc, 2.76% lead and 0.23% vanadium oxide.
Mining Weekly Online previously reported that Weatherly has initiated an update of the PFS to examine the impact of improved prices and updated capital and operating cost estimates on the project's key financial metrics.