Namibian copper exploration and development company Omico Mining has appointed Ingo Hofmaier CEO.

The company says Hofmaier is well-regarded in the natural resources industry with over 20 years’ general management, corporate finance and investment banking experience across Africa, Asia and South America.

“He has significant experience in executing projects and managing complex joint ventures (JVs), equity investments, as well as mergers and acquisitions and corporate finance transactions across multiple jurisdictions,” it adds.

Most recently he was CFO at London-listed copper/gold developer SolGold, where he spent three years.

Before joining SolGold, Hofmaier was a partner and head of mining at merchant bank Hannam & Partners, where he was instrumental in building the mining investment banking practice over a period of seven years.

He joined Hannam & Partners from Rio Tinto in London, where he was a member of the central business development and strategy team.

"I am pleased to be joining this company and taking the lead at such an important time for the Omitiomire copper project. Given the strong base of work already completed, including an updated mineral resource utilising 95 000 m of resource drilling and significant metallurgical test work, we are in an excellent position to accelerate the development in a world in short supply of achievable copper developments,” Hofmaier comments.

He describes Namibia as a reliable investment destination with a well-developed workforce and a long and successful history of mining.

“We are confident that, during the remainder of the year, we will achieve our aims to commence required in-fill drilling; kick-off the bankable feasibility study, with the aim of completing it within 12 months; progress the environmental- and social-impact assessment; and hold key stakeholder meetings.

“In parallel to these activities, we will be progressing all other workstreams to ensure construction readiness and build a lean and competent organisation. I look forward to introducing this re-engineered and derisked copper cathode project to the market in the coming months.”

Omico is a JV between private equity fund Greenstone Resources and Australian natural resources company International Base Metals.

Through its Namibian subsidiary Craton Mining and Exploration, Omico owns the Omitiomire project, which the company says has the potential to be a long-life, low-capital-intensive project. Studies have estimated the company will have to invest $250-million in building a mine that will produce about 30 000 t/y of copper cathode over a 15-year life.