Namib Minerals announced a new partnership with BW Mining, a mining and civil works contractor, to treat sands at its How Mine in Zimbabwe. The How Mine holds an inferred resource of 213 kOz of gold, and the collaboration aims to extract additional gold value from the sands through testing and subsequent production.
The partnership is expected to increase EBITDA by leveraging BW Mining’s proven competencies and operational capacity. By treating sands—an underutilized resource—Namib Minerals can recover gold without the need for new capital investment, improving operational leverage and cash flow generation. The move aligns with the company’s broader strategy of unlocking value from existing assets and expanding its production base.
How Mine has a long operational history of over 80 years and an estimated remaining mine life of eight years. The partnership fits into Namib Minerals’ plan to restart its Redwing and Mazowe mines while enhancing the productivity of its core assets. Unlocking gold from sands could provide a higher‑margin stream that complements the company’s existing underground and open‑pit operations.
Management has indicated that the collaboration will increase overall EBITDA and extract additional value from existing resources, positioning the company to deliver stronger returns to shareholders. The company acknowledges that the success of the partnership depends on the completion of the testing phase, market conditions, and other risks and uncertainties, including potential weaknesses in internal control over financial reporting.
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