Namib Minerals provided a corporate update following the closing of its business combination and its listing on the Nasdaq Stock Exchange. The company also rang the Closing Bell at Nasdaq on July 25, 2025, marking its official entry into the public market. CEO Ibrahima Sory Tall stated that the transaction facilitates access to strategic partnerships to advance the company's mission of becoming a leading, multi-asset producer of gold and green minerals.
The company's anchor operation, How Mine in Zimbabwe, generated 36.6 thousand ounces of gold and approximately $86 million in revenue in 2024. Namib Minerals is actively planning to increase the current production capacity of How Mine to unlock additional value. This operational track record provides a foundation for the company's expansion efforts.
Namib Minerals is also advancing restart plans for its Mazowe and Redwing mines in Zimbabwe, with enabling works underway. Dewatering at Redwing is expected to begin this fiscal year, while infrastructure upgrades continue at Mazowe. As of December 31, 2023, the three gold assets collectively hold 1.6 million ounces of gold in measured and indicated reserves at an average grade of 3.92 g/t Au, with an additional 2.4 million ounces in inferred resources at 3.57 g/t Au.
Beyond gold, the company's exploration portfolio in the Democratic Republic of Congo includes an interest in 13 exploration permits targeting copper and cobalt. These critical minerals are essential for the global energy transition, and this diversification marks an important part of Namib Minerals' strategy to maintain exposure to structurally robust markets. The company expects to organize a series of feasibility studies to facilitate discovery of increased reserves and resources across all three projects.
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