N$1.35bn back in the ground at Tschudi
Consolidated Copper Corporation has reinvested roughly N$1.35 billion generated from early copper sales back into its Tschudi operations in Namibia, as the company pursues a deliberate, cash-flow-driven revival of one of the country's idle copper assets.
The figure, disclosed by newly appointed chief financial officer Vikram Cariappa, signals that CCC is funding its restart from operational revenues rather than fresh external capital, a deliberate departure from the financial model that undid previous operators at the same site.
"The next 12 to 24 months will focus on laying a solid operational foundation," Cariappa said. "It's about getting busy and staying busy, but doing it properly so that what comes next is sustainable and not rushed."
About 90 employees are currently on site, with headcount expected to grow as operations scale up. The Tschudi processing plant was restarted in August 2024, backed by a US$20 million secured debt facility, approximately N$357 million, provided by a consortium of founding shareholders. The restart created more than 60 direct jobs initially, with around 75% of refurbishment capital directed to local Namibian contractors and suppliers.
Recent drilling has materially extended the mine's outlook. Tschudi's expected operational life has been revised from three years to between 10 and 12 years, including six to seven years of oxide production. The company has disclosed an estimated mineral resource of 50 million tonnes at 0.75% copper, providing what CCC describes as a solid foundation for long-term output.
CCC also holds the Central Operations assets, comprising the historic Otjihase and Matchless underground mines, which host notable copper resources. Those assets remain subject to ongoing feasibility evaluations.
Cariappa said the company's approach was shaped by a studied reading of what went wrong at Tschudi before. Weatherly International, a previous operator, placed the mines on care and maintenance amid low global prices and financial strain. CCC is using early cash flow to fund drilling, technical studies and pre-feasibility work rather than pursuing rapid expansion.
"After 15 years working across different parts of the world, you get a feel for when something is genuinely special, and Consolidated Copper has that feeling," Cariappa said. "We have real assets, real copper in the ground, and a clear path to production."
The company is also pointing to local economic participation as a marker of its operating philosophy. Cariappa said roughly 75% of capital is being deployed within Namibia, supporting local contractors and businesses, including partnerships with the Women in Mining Association of Namibia.
Efforts to improve recovery rates and further extend Tschudi's productive life are continuing, with technical studies under way across the asset base.
