Namib Minerals Advances Mines in Zimbabwe and DRC Exploration Efforts

Namib Minerals is restarting two mines in Zimbabwe and exploring copper and cobalt in the DRC, funded by its How gold mine cash flow. CEO Ibrahimia Tall highlighted plans to increase output and convert exploration permits into resources.

Namib Minerals (Nasdaq: NAMM) is leveraging the cash flow generated from its How gold mine in Zimbabwe to restart operations at two additional mines and finance exploration for copper and cobalt in the Democratic Republic of Congo (DRC), as stated by CEO Ibrahimia Tall.

A feasibility study is currently in progress aimed at increasing How’s output, which totaled 27,000 ounces last year. Tall mentioned that efforts are underway to revive operations at the Mazowe and Redwing mines to enhance the company’s production capacity in Zimbabwe.

During a recent appearance at the Prospectors and Developers Association of Canada conference in Toronto, Tall emphasized, “We are cash generators and we intend to generate way more cash when we reopen these mines.” He also indicated that cash flow from How will support exploration on 13 battery metal permits in Congo, with promising early drilling results revealing potential for near-surface copper and cobalt.

Namib Minerals anticipates converting some of these permits into declared resources by the end of the year, showcasing the company’s strategic focus on resource development and exploration in both Zimbabwe and DRC.

View the entire interview featuring MINING.com host Devan Murugan for further insights into the company’s ambitions and strategies.

Namib Minerals is strategically utilizing its cash flow from the How gold mine to restart mines in Zimbabwe and explore copper and cobalt resources in the DRC. The company is enhancing its production capacity and expects to convert exploration permits into declared resources soon. This proactive approach underscores Namib Minerals’ commitment to growth and cash generation.

Original Source: www.mining.com