Namib Minerals is restarting operations at two Zimbabwe mines funded by profits from the How gold mine. The company is also investing in copper and cobalt exploration in the DRC, with plans to enhance output and convert permits into resources.
Namib Minerals, listed on Nasdaq as NAMM, is utilizing revenue from its How gold mine in Zimbabwe to resume operations at two additional mines while also funding exploration for copper and cobalt in the Democratic Republic of Congo (DRC). CEO Ibrahimia Tall stated that a feasibility study is in progress to enhance the output of the How mine, which produced 27,000 ounces of gold last year, during a video interview with The Northern Miner.
The company is concentrated on reviving its Mazowe and Redwing mines to augment its production capacity in Zimbabwe. CEO Tall emphasized the company’s intention to significantly boost cash generation upon reopening these mines. Additionally, cash from the How mine will support exploration and development across 13 battery metal permits in Congo, where initial drilling has revealed promising copper and cobalt prospects.
Namib Minerals anticipates converting several of these permits into defined resources by year-end. The full interview featuring this discussion can be viewed below, hosted by MINING.com’s Devan Murugan. Please note that these joint venture videos are sponsored content in partnership with The Northern Miner.
In summary, Namib Minerals is strategically leveraging profits from its How gold mine to finance the reopening of additional mines in Zimbabwe and to explore valuable battery metals in the DRC. With a focus on increasing overall cash flow and converting exploration permits into resources, the company aims to strengthen its production capabilities and contribute to the growing market for copper and cobalt.
Original Source: www.mining.com
