Namibia: EU UNDERCOVER Selects Kalahari Copper Project

January 24, 2025

(3 Minutes Read)

Trigon Metals Inc. announces that its Namibian Kalahari Copper Project has been awarded one of only three spots in the €5 million UNDERCOVER research project funded by the European Union (EU).

The UNDERCOVER ( U unified N ovel D eep E xplo R ation for C ritical O re disco VER y) research project aims to enhance the responsible supply of raw materials. The Project’s objectives include advancing deep mineral exploration technologies, stimulating research and development, and enabling their responsible exploitation by exploration and mining stakeholders within the EU.

The UNDERCOVER initiative is designed to address the EU’s pressing need for securing ethically and sustainably sourced raw materials. By investing in advanced deep mineral exploration technologies, the project aims to reduce the environmental and societal impacts of mining, while ensuring a steady supply of critical resources essential for renewable energy technologies, electronics, and other key industries.

Trigon’s participation in the initiative not only highlights its alignment with global sustainability goals but also enhances its technical capacity to explore and exploit its copper deposits more efficiently. Copper remains a pivotal material in renewable energy systems and electrification efforts, further cementing the strategic importance of projects like Kalahari.

Following the announcement of Trigon’s inclusion in the EU-funded project, the company’s share price rose by CAD 0.02, reaching CAD 0.39 per share on the TSK Venture Exchange. This 5.41% increase underscores investor confidence in the potential of the Kalahari Copper Project and the strategic value of its collaboration with the European Union. The rise also reflects optimism regarding the successful resolution of challenges at the Kombat Mine and the prospects for the asset sale.

Trigon Metals’ strengthened position through the UNDERCOVER initiative and its alignment with sustainable exploration practices signal a forward-looking approach that resonates with investors and stakeholders alike. As global demand for responsibly sourced minerals continues to grow, projects like Kalahari and initiatives like UNDERCOVER demonstrate the potential for innovation and collaboration to redefine the mining industry’s role in supporting global sustainability goals.

The European Union’s selection of Trigon Metals for this programme marks a step forward in addressing the strategic and environmental challenges associated with mineral exploration and resource development. As the project unfolds, Trigon’s participation may serve as a benchmark for the integration of advanced technology, environmental stewardship, and economic opportunity in the mining sector.