Bezant Resources (LSE:BZT) estimates that there is a suggested five year increase in the Hope & Gorob Project’s initial one to 7.5 mine life, following growing the open pittable resource estimate sevenfold.
At the current planned mining rates, the operation is expected to generate an additional year of high-grade stockpiled pre-concentrate for final processing every 24 months.
Independent resource consultants Sound Mining completed an updated resource estimate for the project located in Namibia, growing the resource from 41,000 tonnes to more than three million tonnes @ 0.3% to 0.5% copper.
A reclassification of the Hope & Gorob project’s resource includes 1.1 million tonnes in the measured category, 500,000 tonnes in the indicated category and 1.4 million tonnes in the inferred category.
Bezant notes that there is an additional 3.6 million tonnes of mineralisation identified in inventory that remain as potential to be upgraded to add to the resource.
Executive Chairman Colin Bird says reduction in stripping rates, amounts to significant cost savings and the increase in open-cut mine life is satisfying while the open-cut mining tonnes will be even further extended.
“All of the above leads to a very manageable operation, which is conveniently sized for the expenditure and current commitment,” Bird says.
“All we see at Hope and Gorob, together with the forecast of world copper prices, lead us to accelerate further our ore confirmation activities and plant design for phase two.
“We are very excited about the progress we made with the current project and look forward to getting into production this year with a seamless ramp up, since we commence production with the benefit of a previously working plant, which we have upgraded for productivity and efficiency.”
Bezant Resources is a copper-gold explorer and developer focused on its assets located in Namibia and Philippines, as well as graphite projects in Botswana.
Copper prices reached new highs in late 2025, with the critical metal breaking past previous thresholds that had acted as psychological resistance for years. After years of consolidating, copper surged to a then record US$11,870 per tonne in the second week of December 2025, as reported by this news service.
As previously reported, prices are forecast to remain elevated through 2026 with limited near-term increases in supply and continued global demand growth. The Department of Industry, Science and Resources’ (DISR) December Resources and Energy Quarterly reports that while prices should ease in 2027 as some operations recover and new capacity comes online, the medium-term outlook remains firm.
Copper prices have nearly tripled over the past 10 years, exceeding US$12,000 per tonne as of 10 March. About 50% of this increase has come in the past two years alone.
At the time of writing, copper prices increased nearly 3% toward US$5.7 per pound on 8 April, hitting a three-week high after Iran agreed to temporarily reopen the Straits of Hormuz as part of a two-week ceasefire with the US and Israel, easing demand concerns.
Write to Aaliyah Rogan at Mining.com.au
Images: Bezant Resources
