Namib Minerals Revitalizes Zimbabwe Mines and Expands DRC Exploration

Namib Minerals is restarting its Zimbabwe mines and exploring in the DRC, utilizing funds from its How gold mine. CEO Ibrahimia Tall mentions a feasibility study to boost output and plans for significant exploration on battery metal permits. The company anticipates declaring resources by year-end.

Namib Minerals (Nasdaq: NAMM) has announced its strategy to revitalize mining operations in Zimbabwe and explore opportunities in the Democratic Republic of Congo (DRC). According to CEO Ibrahimia Tall, the cash flow generated from the How gold mine will finance the restart of two additional mines—Mazowe and Redwing—and support copper and cobalt exploration in the DRC.

A feasibility study is currently in progress to enhance How’s production, which totaled 27,000 ounces last year, Tall stated in an interview with The Northern Miner. The reopening of these mines is crucial for increasing Zimbabwe’s production capabilities.

“We are cash generators, and we intend to generate way more cash when we reopen these mines,” asserted Tall during the Prospectors and Developers Association of Canada conference in Toronto. The company aims to utilize the cash flow from How to advance exploration and development on 13 battery metal permits in Congo.

Early drilling results from the DRC have indicated promising near-surface potential for copper and cobalt. Namib Minerals anticipates that some of these permits will be converted into declared resources by the end of this year. The full interview is accessible below with MINING.com host Devan Murugan.

In summary, Namib Minerals is strategically leveraging cash flow from its Zimbabwe operations to revitalize additional mining sites and explore mineral potential in the DRC. The company aims to enhance its production capabilities while strategically developing promising battery metal resources. With ongoing feasibility studies and encouraging exploration results, Namib Minerals is positioned for significant growth in the coming years.

Original Source: www.mining.com