Celsius Exits Opuwo Cobalt Project in Namibia to Prioritize Philippine Flagship
Celsius Resources is moving forward with plans to divest its 95% interest in the Opuwo Cobalt Project in Namibia, as it sharpens its strategic focus on its flagship Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project in the Philippines.
The Opuwo Cobalt Project, one of the largest known cobalt deposits outside the Democratic Republic of the Congo (DRC), is owned by the Opuwo Cobalt Group, in which Celsius holds a 95% stake.
In March 2025, Celsius revalued the group’s assets at approximately USD 3.02 million. As of June 30, 2024, all assets under the Opuwo Cobalt Group have been reclassified for carrying value, reflecting this strategic shift.
Celsius originally acquired 100% of Opuwo Cobalt in 2017, gaining an initial 76% exposure to the project.
Later that year, the company increased its stake when Gecko Holdings sold its 20% share in Gecko Cobalt to Celsius.
Additionally, Gecko sold a 95% interest in three adjacent exploration licenses in the Opuwo region, expanding Celsius’ total land position to approximately 782 km².
In February 2025, Celsius entered into a non-binding agreement with Stewardship Investments for the potential sale of its 95% interest in the Opuwo Cobalt Project.
A recent Mineral Resource update for Opuwo has doubled its indicated and inferred resources to 225.5 million tonnes, grading 0.12% cobalt, 0.43% copper, and 0.54% zinc.
The resource now contains an estimated 259,000 tonnes of cobalt and 970,000 tonnes of copper, underscoring the project’s potential to become a major future supplier of cobalt for the global battery market, while the copper component enhances its economic appeal amid strong market demand.
The updated resource estimate is a critical part of the ongoing technical and commercial reassessment of the Opuwo Project.
Celsius has completed nine diamond drill holes aimed at supporting future metallurgical optimisation.
These drill results confirmed mineralisation along the projected strike length of the Dolostone Ore Formation (DOF), reaffirming the geological consistency of the deposit.
Preliminary metallurgical testing—including roasting and tank leach methods on bulk samples—produced promising results, with recovery rates of 95% for cobalt and 98% for copper.
These results indicate that the Opuwo ore is well-suited for downstream processing via roasting and tank leaching.
Further flotation test work is currently underway to enhance cobalt recovery, potentially increasing it to around 85%.
These findings will inform an updated engineering design and revised Scoping Study, building on the foundation of the 2018 study.
SOURCE:batterymetalsafrica.com
