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Namib Minerals Provides Corporate Update
Globenewswire· 2025-07-31 11:46
Core Viewpoint - Namib Minerals has successfully completed a business combination with Hennessy Capital Investment Corp. VI and is now listed on the Nasdaq under the ticker symbol NAMM, marking a significant milestone in its corporate structure and strategic growth plans [1][2]. Strategic Growth and Asset Development - The company’s primary asset, How Mine in Zimbabwe, produced 36.6 thousand ounces (koz) of gold and generated approximately US$86 million in revenue in 2024, positioning it for potential expansion with sufficient funding [2]. - Namib Minerals is also planning to restart operations at the Mazowe and Redwing mines in Zimbabwe, with dewatering at Redwing expected to commence this fiscal year [3]. - As of December 31, 2023, the company holds a substantial mineral endowment of 1.6 million ounces (Moz) of gold in measured and indicated reserves at an average grade of 3.92 grams per tonne (g/t) Au, along with an additional 2.4 Moz in inferred resources at 3.57 g/t Au [4]. - The company intends to conduct feasibility studies to increase reserves and resources across its projects, which will support future expansion and long-term production goals [5]. Exploration and Diversification - Namib Minerals has an exploration portfolio in the Democratic Republic of Congo, consisting of 13 exploration permits targeting copper and cobalt, which are essential for the global energy transition [7]. - This diversification strategy aims to enhance the company's commodity base while maintaining exposure to robust market demands [7]. Commitment to Operational Excellence - The company adheres to international standards with ISO 14001, 9001, and 45001 certifications, ensuring environmental responsibility, quality, and occupational health and safety as it expands its operations [8]. - Namib Minerals emphasizes sustainability and shared prosperity through partnerships with local communities and governments [9]. Company Overview - Namib Minerals is a significant player in Africa's mining industry, focusing on sustainable growth and innovation, with operations primarily in Zimbabwe and additional exploration assets in the DRC [10].