Midas Minerals Clears Final Hurdle for Otavi Copper Project Acquisition
Midas Minerals has secured unconditional approval from Namibia’s Competition Commission, paving the way to complete its acquisition of the Otavi Copper Project and launch an aggressive drilling campaign.
- Unconditional merger clearance granted by Namibian Competition Commission
- Acquisition completion expected in November 2025
- Four drilling rigs planned to accelerate exploration at Otavi
- Company well funded with $15.3 million cash post recent placement
- Option secured over adjacent South Otavi Project with ongoing drilling
Final Regulatory Approval Secured
Midas Minerals Limited has reached a significant milestone by obtaining unconditional merger control clearance from the Namibian Competition Commission for its acquisition of the Otavi Copper Project. This approval represents the last regulatory hurdle before the deal can be finalized, expected to occur in November 2025. The clearance confirms that the acquisition meets competition laws without conditions, allowing Midas to proceed confidently with its plans.
Ambitious Exploration Plans Unveiled
Following completion, Midas intends to immediately mobilize an aggressive exploration program at Otavi, deploying four drilling rigs, one reverse circulation and three diamond rigs. The project spans a substantial 1,776 square kilometers in Namibia’s prolific copper belt, featuring two known deposits, T13 and Deblin, alongside numerous underexplored targets. With only 36% of the area previously subjected to modern exploration, the potential for new discoveries is considerable.
Strong Financial Position Supports Growth
The company’s recent $11.5 million capital raising has bolstered its cash reserves to approximately $15.3 million as of September 30, 2025. This financial strength provides Midas with the flexibility to execute its exploration strategy without immediate funding concerns. Managing Director Mark Calderwood emphasized the company’s readiness to commence drilling and the strategic importance of the Otavi acquisition in expanding Midas’s copper portfolio.
Complementary Projects Enhance Regional Footprint
In addition to Otavi, Midas holds an option over the South Otavi Project, located nearby and currently undergoing initial drilling. This proximity offers potential synergies and further exploration upside. Beyond Namibia, Midas maintains interests in other promising projects, including gold and lithium assets in Western Australia and Canada, underscoring its diversified approach to mineral exploration.
Looking Ahead
As Midas prepares to transition from acquisition to active exploration, the market will be watching closely for early drilling results that could validate the project’s high-grade potential. The company’s ability to rapidly advance the Otavi Project could position it as a notable player in the copper sector, particularly amid growing demand for base metals critical to clean energy technologies.
Bottom Line?
With final approvals in hand, Midas is poised to unlock Otavi’s potential, but exploration success remains the key to value creation.
Questions in the middle?
- What initial drilling results will reveal about the extent and grade of copper mineralization at Otavi?
- How will Midas balance exploration expenditures with maintaining its strong cash position?
- What strategic moves might Midas pursue if early exploration confirms significant resources?