Namibia's Ministry of Mines and Energy has renewed TSX-V-listed Deep-South Resources' Haib copper licence for two years.
This follows a lengthy court battle, which in March, ended with the High Court of Namibia ordering the Ministry to restart Deep-South’s licence renewal application procedure. The Ministry had, in June 2021, informed the company that it would not renew the licence.
"This is a very good news. The board and management of Deep-South are highly pleased to be back at Haib. With the scarcity of major copper developments on the horizon, Haib [holds] promise as a significant undeveloped deposit.
"We have begun preparations to commence the work programme and resume the development of the project as soon as possible. The plan and further information will be disclosed to our shareholders in due course," comments president and CEO Pierre Leveille.