Bezant Resources Reports Sevenfold Increase in Hope Open-Pit Mineral Resource in Namibia
Bezant Resources boosts Hope project copper-gold resource sevenfold, extending mine life to 7.5 years
Aim-listed Bezant Resources has announced a sevenfold increase in the Hope open-pit mineral resource at its Hope and Gorob copper-gold project in Namibia, raising the resource to over three million tonnes, up from the 2023 estimate of 410,000 tonnes.
The update was released on April 8 following a new Mineral Resource Estimate (MRE) prepared by independent consultants Sound Mining.
Bezant highlighted that the increase significantly improves the near-term development potential of the mine, reducing the strip ratio from 11:1 to 9:1 and extending the immediate life-of-mine from one year to 7.5 years, based on a production feed rate of 400,000 t/y.
An additional 3.6 million tonnes of mineralization remain as potential upgrades to the resource, while 1.3 million tonnes of low-grade material within the pit shell can be enhanced using the on-site ore sorter, contributing to annual production.
At current mining rates, an extra year of high-grade stockpiled pre-concentrate is projected every 24 months.
Bezant confirmed significant mineralization exists beyond the current pit shell, which could extend open-pittable production by at least five additional years with further drilling.
The company’s Namibian subsidiary, Hope and Gorob Mining, currently operates the project.
Following a recent acquisition of an additional 20% stake announced on March 24, Bezant’s interest in the project will rise to 90%.
The 2026 MRE classifies 1.1 million tonnes as measured, 500,000 tonnes as indicated, and 1.4 million tonnes as inferred, a marked increase in confidence compared to the predominantly inferred 2023 estimate.
This allows Bezant to accelerate Phase 2 development by five years, which includes constructing a new flotation plant near Walvis Bay to produce 25,000 t/y of copper, generating an estimated $290 million in revenue at $11,500 per tonne copper price, subject to statutory approvals.
Bezant Executive Chairperson Colin Bird emphasized the operational and financial benefits of the new MRE: lower stripping rates, longer mine life, and a manageable, cost-efficient operation.
He added that the company is advancing ore confirmation activities and plant design for Phase 2, with production expected to ramp up smoothly this year, leveraging upgraded existing plant infrastructure.
“Progress at Hope & Gorob, combined with favorable copper price forecasts, allows us to intensify all project activities and maintain full shareholder engagement,” Bird concluded.
