Interests & Royalties

Alongside its core copper strategy in Namibia, Okopa retains income streams from its historic interests in the United States and Togo. These provide recurring income to the Company, which contribute towards corporate overheads and the exploration and development of its Namibian copper portfolio.

Okopa has an uncapped production royalty over phosphate rock produced from the Diamond Creek Mine in Utah. Under the royalty agreement, Okopa is entitled to receive US$10 per long ton of phosphate rock mined from Diamond Creek and sold, transferred or otherwise commercially disposed of by the former US business. The royalty applies across different grades and product formats, providing Okopa with continuing exposure to production from Diamond Creek without retaining ownership of the US operations.

On 17 May 2023 an agreement was signed between Keras and the State whereby it was agreed that Nayéga is a Togolese strategic asset and the exploitation permit will be awarded to Société Togolaise de Manganèse (“STM”), a Togolese incorporated company 100% owned by the State. The State agreed to pay a cash consideration of US$1.7m, which amount has now been received, and thereafter advisory fees of 1.5% of gross revenue for three years and brokerage fees of 6.0% of gross revenue for the lesser of 3.5 years or 900,000 tonnes of beneficiated manganese ore produced and sold from Nayéga.