Canadian mining firm Koryx Copper Inc. has announced plans to raise approximately N$300 million (C$25 million ≈ USD 18.8 million) through a public offering of new shares, to support the continued development of its Haib Copper Project in southern Namibia.
According to Koryx’s Chief Executive Officer Heye Daun, the capital raising is being led by Stifel Canada, supported by a syndicate of underwriters. The new common shares are being offered at C$2.45 (about N$29) per share in both Canada and the United States. Proceeds will primarily fund technical studies, further exploration, and general corporate operations.
Under the terms of the agreement, underwriters have been granted the option to purchase or arrange for substitute purchasers to buy up to an additional 1 530 750 common shares on identical terms. This option will remain valid up until forty-eight hours before the closing of the offering, which is expected around 20 January 2026, subject to regulatory approval, including acceptance by the TSX Venture Exchange.
Underwriters are entitled to a 6 percent cash commission on the gross proceeds and compensation warrants equivalent to 3 percent of the total shares sold, consistent with exchange policy and applicable securities law. Each compensation warrant allows the holder to acquire one Koryx common share at the offering price within twenty-four months from the issue date.
The Haib Copper Project, located in Namibia’s ǁKaras Region, is one of Africa’s most advanced undeveloped copper deposits. It represents one of the world’s few known Palaeoproterozoic porphyry copper deposits, and one of only two such deposits identified in southern Africa, both situated in Namibia.
Haib has been the subject of extensive exploration since the 1970s, with over 80 000 metres of drilling completed by operators including Falconbridge (1964), Rio Tinto (1975) and Teck Resources (2014). A series of metallurgical assessments and technical studies have been undertaken over the decades, providing a strong scientific basis for the current development phase.
Koryx is conducting additional studies to confirm Haib’s potential as a long-life, low-cost open-pit copper operation employing both sulphide flotation and heap leaching methods. The company maintains that Haib could evolve into a stable and sustainable contributor to Namibia’s diversified mining economy, which remains a vital source of national revenue and employment.
Beyond Namibia, Koryx is actively involved in two copper exploration licences within Zambia’s Copperbelt, reinforcing its broader commitment to developing Africa’s copper resources in a manner that aligns with local and regional priorities.
Namibia’s strong regulatory framework, political stability, and expanding infrastructure have positioned it as an emerging focal point for investment in critical minerals such as copper, lithium, and rare earth elements. These minerals underpin global renewable-energy transitions, situating southern Africa at the core of evolving supply chains.
As Koryx advances this capital raising initiative, its efforts illustrate the growing importance of African-centred resource development and the continent’s potential to influence global industrial and green-energy transformation narratives.
