Deep-South Resources has terminated all work at the Habib Copper project in Namibia, and proceeded with retrenching employees on site.
Following a meeting between Deep-South and the Namibian Mininstry of Mines and Energy on Friday 25 June 2021, the ministry upheld its decision not to renew the Exclusive Prospecting Licence (EPL) for the Habib Copper project.
In a statement, Deep-South expressed its intentions to vigorously contest this decision by all means necessary and available under the Minerals (Prospecting and Mining) Act and other applicable laws of Namibia. In its application for renewal and subsequent representations made to the Ministry, the company maintains that it clearly demonstrated having met all criteria under the Act to justify the renewal of its licence.
Prior to the meeting with the Ministry of Mines and Energy and other officials, Deep-South received notice from the Ministry informing them that its application for the renewal of its EPL had been denied citing the company’s inability to advance the EPL to pre-feasibility and complete the proposed drilling program as planned.