Itai Ndongwe
HARARE – Namib Minerals has partnered with BW Mining, a reputable mining and civil works contractor, to retreat sands at its How Mine in Zimbabwe.
Mine holds a surface sands resource of 213 Koz of Gold in the Inferred Resource category and BW Mining has mobilized equipment on site and commenced preparatory work to begin the initial phase of the testing of sands. Upon successful completion of testing, the company expects to capitalize on firm gold prices, leveraging the proven competencies and operational capacity of BW Mining to efficiently extract gold from the How Mine sands.
The project is intended to increase overall EBITDA and extract additional value from existing resources, positioning the company to deliver stronger returns to shareholders. However, such expectations are subject to the completion of the testing phase along with various assumptions, risks and uncertainties, including market conditions, many of which are beyond the company’s control.
This partnership serves as a complementary initiative to Namib Minerals’ ongoing capital projects, which remain focused on delivering higher-return opportunities and long-term value across the portfolio.
Meanwhile, Namib Minerals is on a mission to transform into a multi-asset operator, and its phased growth plan is well underway. The company is recommencing operations at Mazowe Mine and Redwing Mine, with WSP appointed to conduct feasibility studies at both sites. This partnership leverages WSP’s expertise and familiarity with Namib Minerals’ assets, aiming to align future production levels with resource sizes and boost production capacities.
The feasibility studies, expected to take 12-18 months, will validate the exploration program, increase resources, and provide a technical foundation for reserve conversion, permitting, and financing discussions. Concurrently, dewatering and infrastructure preparation will commence, including an eight-month dewatering process at Redwing Mine and surface-infrastructure upgrades. These efforts will align with the restart timeline, paving the way for the next phase of expansion.
Namib Minerals estimates a total funding requirement of US $300 million to $400 million for the expansion program, primarily allocated to Redwing Mine. Upon completing the feasibility studies, the company will initiate procurement and financing discussions, marking the start of CAPEX financing.
