Weatherly International

What Weatherly International does

Weatherly International Plc is an AIM-listed copper mining company headquartered in London and operating in Namibia since 2006, following its acquisition of the insolvent assets of Ongopolo. The company produces LME Grade A copper cathode at the Tschudi open-pit, heap leach, SX/EW mine, which has a 17,000 tpa nameplate capacity (20ktpa design capacity), a 9-year mine life, and is supported by 22.7mt of open-pit ore reserves at 0.85% Cu and 49.7mt of mineral resources at 0.80% Cu (both JORC-compliant). Weatherly also owns the Otjihase and Matchless underground mines and an 800ktpa copper concentrator, which have been on care and maintenance since September 2015 and are being evaluated for restart at 10-12ktpa of copper concentrate at a C1 cost of US$2/lb.

The company's revenue model is built on commodity copper sales through offtake agreements with major trading houses and financial counterparties. Orion Mine Finance serves as the largest shareholder (24.6%), primary debt lender, and main offtake partner for Tschudi cathode, while Louis Dreyfus Commodities is the named offtake partner for Otjihase concentrate (trucked to Walvis Bay for export). Copper is sold at LME benchmark prices, with Tschudi operating at C1 cash costs of US$1.75/lb. The go-to-market motion is enterprise-direct and sales-led, targeting institutional investors and commodity counterparties rather than product-led channels; the company positions itself as a builder-operator focused on medium-scale copper assets in lower-risk African jurisdictions.

On 1 June 2018, Weatherly International Plc entered administration following operational and financial pressures, with FTI Consulting LLP appointed as Joint Administrators. While subsidiary entities continued to trade under director control outside the formal insolvency process, the parent company's administration marks a critical inflection point. Pre-administration, the company had pursued expansion through the announced 2017 acquisition of the Kitumba Copper Deposit in Zambia and a JV with ECE to redevelop the Berg Aukas zinc/lead mine, alongside the strategic 2015 commissioning of Tschudi and the 2010 divestiture of the Tsumeb smelter to Dundee Precious Metals.

Name

Weatherly International

Legal name

Weatherly International Plc

Website

https://weatherlyplc.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

51–100 employees

Short description

Weatherly International Plc is an AIM-listed copper mining company operating in Namibia since 2006, producing LME Grade A copper cathode at the Tschudi open-pit heap leach SX/EW mine. The parent entered administration in June 2018.

Ownership category

akta.pro rank

Headquarters

HQ city

Welwyn Garden City

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Others

Revenue model

1. Copper Cathode Sales: Weatherly generates revenue primarily through the sale of LME Grade A copper cathode produced at its Tschudi SX/EW plant. Production capacity of 17,000 tpa with plant design capacity of 20ktpa.
2. Copper Concentrate Sales: Sale of copper concentrate from Otjihase operations when operational. Concentrate is trucked to Walvis Bay port and sold to Louis Dreyfus at point of export. Future restart plans target 10-12ktpa of copper in concentrate.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Weatherly International is a copper mining company that operates the Tschudi open-pit heap leach SX/EW mine in Namibia, producing LME Grade A copper cathode at a nameplate capacity of 17,000 tonnes per annum. The company also holds the Otjihase underground copper mine and Matchless mine with an 800ktpa copper concentrator, currently on care and maintenance, and holds an interest in the Berg Aukas zinc/lead project via a joint venture. Revenue is generated through the sale of copper cathode and concentrate to offtake partners including Orion Mine Finance and Louis Dreyfus Commodities.

Product overview

Weatherly International is a copper mining company operating the Tschudi open-pit heap leach SX/EW copper mine in Namibia, with the Otjihase development project (two underground mines and copper concentrator) on care and maintenance. The company's flagship asset is the Tschudi mine producing LME Grade A copper cathode. Weatherly positions itself through its 'Safe Copper' brand philosophy, emphasizing responsible mining practices across safety, environment, community, and financial performance. The company's strategic goal is to establish sustainable copper production of approximately 30,000 tpa at costs below US$2/lb.

Differentiator

Problem solved

Functional benefit

Products and services

• Tschudi Copper Mine Operating open-pit, heap-leach, SX/EW copper mine producing LME Grade A copper cathode. Mineral Resource of 49.7mt at 0.80% Cu, Open Pit Ore Reserve of 22.7mt at 0.85% Cu, with a 9-year mine life and 17,000 tpa plant capacity at a C1 cash cost of US$1.75/lb.
• Otjihase Development Project Development project comprising two underground copper mines (Otjihase and Matchless) and an 800ktpa copper concentrator, currently on care and maintenance. Evaluated restart potential targets 10-12ktpa of copper in concentrate at a C1 cost of US$2/lb for 10 years, requiring less than US$10m in capex.
• Berg Aukas Zinc/Lead Project Zinc/lead mine redevelopment project held through a joint venture company (China Africa Resources JV) listed on AIM. Pursued via an MOU establishing a JV with ECE for re-development in Namibia.

Quantifiable outcome

• C1 cash costs of US$1.75/lb at Tschudi
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Dundee Precious MetalscoreStrategic or Co-development Partner · 1 January 2010Weatherly sold the Tsumeb smelter to Dundee Precious Metals in 2010. Dundee operates the adjacent Tsumeb smelter which supplies sulfuric acid to Tschudi mine - a critical input for heap leach processing. Weatherly raised GBP2m via share subscription from Dundee Precious Metals in 2009 to maintain cash position.
• Louis Dreyfus CommoditiescoreStrategic or Co-development PartnerLouis Dreyfus Commodities serves as offtake partner for Otjihase copper concentrate. Weatherly negotiated a USD7m loan with Louis Dreyfus in 2010 to provide funds to reopen Otjihase Operations. Concentrate is trucked to Walvis Bay port and sold to Louis Dreyfus at point of export.
• ECE (Empress/Chamber Equal Opportunities)minorStrategic or Co-development PartnerMOU signed with ECE to establish a JV company (ECE 65%, WTI 25%, WTI shareholders 10%) to pursue re-development of the Berg Aukas zinc/lead mine in Namibia.

Scale indicators11 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Atalaya Mining: European-listed copper miner operating open-pit mines with heap leach SX/EW processing — virtually identical production technology to Weatherly's Tschudi. Comparable scale and unit cost profile; serves as a benchmark for AIM/Iberian small-cap copper producers.
• Dundee Precious Metals: Operated the adjacent Tsumeb smelter from which Weatherly sources sulfuric acid for heap leach operations; became a shareholder via subscription. Direct operational and counterparty relationship makes it a highly relevant adjacent peer.
• Central Asia Metals: AIM-listed small-cap base metals producer with copper and other by-product operations. Closest peer by listing venue, scale, and single-asset copper production profile — both companies operate low-cost copper assets with concentrated production bases.

Others

• Orion Mine Finance: Specialist mining-focused private investment firm that is Weatherly's largest shareholder, debt provider, and offtake counterparty. While not a direct operational peer, Orion's portfolio of copper and base-metals investments provides a reference point for private-market mining valuations relevant to Weatherly.

Broad incumbents

• Hudbay Minerals: Mid-tier diversified miner with copper as primary product. Operates copper mines with SX/EW and concentrate production; comparable in terms of having both open-pit and underground capabilities, though at substantially larger scale.
• KAZ Minerals: Mid-tier copper producer focused on low-cost, single-asset copper operations. While larger and geographically focused on Central Asia, the operational philosophy of low-cost, integrated open-pit copper production is closely analogous to Weatherly's approach.
• First Quantum Minerals: Major copper producer with significant African operations (Zambia, DRC). Larger and more diversified but competes for the same institutional copper-mandate capital and has demonstrated willingness to operate open-pit copper assets in African jurisdictions.
• Capstone Copper: Mid-tier copper producer with multiple operating assets producing copper cathode and concentrate. Larger scale but same core product offering and SX/EW operating experience; representative of the type of acquirer that could absorb Weatherly's assets.

Regional players

• Moxico Resources: Copper producer focused on Zambian and African copper assets. Similar low-cost copper production philosophy and African geographic focus, though operating in different jurisdictions. Represents the regional African copper peer set.

Emerging players

• Phoenix Copper: AIM-listed emerging copper producer focused on low-capex development of copper assets. Highly comparable in terms of size, listing venue, and stage of development; serves as a development-stage analogue to Weatherly's Otjihase restart profile.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/weatherly-international-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Weatherly International