Karibib Lithium Project
Auroch Minerals Limited has secured the Karibib Lithium Project in Namibia, located on highly prospective lithium acreage, in the same region as Namibia’s two historic lithium producing mines, Helikon and Rubikon.
The Company has entered a JV on Exclusive Prospecting License (EPL) 5751 to earn up to 90%, which lies South West of Helikon and Rubikon. In addition, Auroch has applied for a further five EPLs in the Erongo region of Namibia which expands the potential for the Company to identify a commercial lithium resource.
The EPLs are distinguished by the presence of significant historic lithium production within the geological terrain and include untested pegmatites with strongly fractionated geochemistry indicative of potential lithium tantalum mineralisation.
Over 90% of Namibia’s previous lithium production has been sourced from these EPLs.
To date, the Karibib area has seen little modern exploration and almost no drilling of the many lithium known occurrences.
Auroch is therefore very much an early mover in the region, bringing significant expertise and the modern technology that the Company hopes will unlock a significant lithium resource.
Population 2.5 million
Namibia recorded GDP of 11.5 B USD in 2015
Free and open Democracy
Presidential style of Government
Mining In Namibia
Key industries are agriculture, fishing, mining and tourism, however mining is the largest contributor to Namibia’s economy in terms of revenue. It accounts for 25% of the country’s income.
The royalty schedule that applies to mining is 3% royalty on the market value of base, precious and rare metals and nonnuclear mineral fuels. A 2% royalty levied on industrial minerals and nuclear mineral fuels. Combined with a corporate tax rate of 37.5% for non-diamond mining, this makes Namibia an excellent country to invest in. The Fraser Institute Mining Company Survey recently ranked Namibia as the most attractive African investment jurisdiction.
The larger mining operations in Namibia tend to be funded and operated by domestic and international investors. Numerous local operations are involved in smaller-scale industrial mineral production, particularly the semiprecious gemstone sector.
- Lead and Zinc
- Semi precious gemstones & minerals
- Husab Uranium Mine
- Langer Heinrich Uranium Mine
- Rössing uranium mine
- Skorpion Zink mine
- Navachab Gold Mine (b2Gold)
- Dundee Precious (Tsumeb Copper Mine)
The long tradition of mining in Namibia has recently been renewed with the reopening of the Tsumeb-area copper mines and smelter, the opening of the Skorpion zinc project, expansion of the fluorspar and the gold mines, and continued offshore diamond development.
Extensive exploration in Namibia for base metals, diamond, gold, natural gas and uranium has been attributed, in part, to the rise in world commodity prices. Potential new mine development and new value-added gemstone cutting and polishing, metal-processing, and other mineral-based manufacturing industries could maintain the mineral sector’s position as a significant segment of the economy of Namibia for the foreseeable future.