• Kaoko Metals plans $4.4 million raise to fund copper exploration in Namibia

• Investor interest extends to lithium and rare earths tied to energy transition

• Namibia’s stable business climate seen as a key advantage

Mining junior Kaoko Metals said on April 6 it plans to raise up to A$6.5 million ($4.4 million) as part of its listing on the Australian Securities Exchange (ASX), as it steps up exploration efforts in Namibia, a country attracting growing investor interest for its critical mineral potential.

The company, which holds two assets—Chalkos and Karibib—aims to complete its ASX listing this month. Speaking to StockHead, chief executive Gerard O’Donovan said the company is focused on making a discovery, ideally at scale, across its projects. The strategy echoes that of other junior miners such as Midas Minerals and Koryx Copper, the latter developing the Haib copper project.

The momentum extends beyond copper. Investor activity is also rising in lithium, notably at the Uis project, and in rare earths, which are essential for electric vehicles and wind turbines. From the Lofdal project, led by Namibia Critical Metals, to identified deposits such as Kameelburg, operated by Aldoro Resources, new investments are helping diversify Namibia’s mining sector, long dominated by diamonds, uranium, and gold.

Energy transition drives interest

The growing focus on critical minerals in Namibia reflects their importance in the global energy transition. This trend is reinforced by a business environment widely viewed as stable and investor-friendly. O’Donovan described Namibia as a “mature, welcoming jurisdiction,” noting that it carries less political uncertainty and sovereign risk than some other African countries.

Despite the strong momentum, most of the projects remain at the development stage, and their outcomes are not yet assured. For companies like Kaoko, still searching for their first major discoveries, the path forward could take years and require sustained investment.

In the meantime, mining continues to play a central role in Namibia’s economy. The sector accounted for 14% of GDP in 2023. According to figures attributed to Mines Minister Modestus Amutse, it generated more than 64.7 billion Namibian dollars ($3.8 billion) in export revenue in the 2025/26 fiscal year, driven largely by strong performance in gold and uranium.

Aurel Sèdjro Houenou