Namib Minerals, freshly listed on the Nasdaq under the ticker NAMM, is looking to raise up to US$400 million as it accelerates plans to restart operations at the Mazowe and Redwing gold mines in Zimbabwe.
By Ryan Chigoche
The investment forms part of the company’s five-year capital programme, which earmarks between US$300 million and US$400 million for its Zimbabwean operations.
Preliminary work has already commenced at both sites, positioning the company for a swift return to production.
Mazowe and Redwing, which together host 3.7 million ounces of gold resources—1.2 million ounces at Mazowe and 2.5 million ounces at Redwing—were placed under care and maintenance between 2019 and 2020. Namib is now repositioning the assets to serve as a core growth driver within its African gold portfolio.
The Mazowe Mine, averaging grades of 8g/t gold, is expected to lead the restart due to its lower capital intensity and smaller operational footprint. In contrast, Redwing, with a larger resource base, presents greater long-term upside but demands a higher initial investment to resume full-scale mining.
Namib’s total capital outlay will cover mine rehabilitation, exploration, equipment acquisition, and processing plant upgrades. The company also intends to double its gold resource base and extend mine life through continued drilling across all three of its Zimbabwe gold assets, including the producing How Mine.
“We’re not just building a mining company, we’re building a platform for long-term value creation—both for our shareholders and the communities we operate in,” said Ibrahima Sory Tall, CEO of Namib Minerals, in a statement.
“Now, as a Nasdaq-listed company, we invite investors to join us at the ground floor of one of Africa’s most dynamic mining growth stories,” he added.
Namib Minerals positions Zimbabwe as a strategic pillar in its Africa-focused expansion strategy.
The relaunch of Mazowe and Redwing signals the company’s intent to unlock substantial value from its brownfield assets, backed by fresh capital and a clear development roadmap.
