Nasdaq-listed miner Namib Minerals has announced a “strategic” partnership with Bitumen World Mining (BW Mining) for the retreatment of sands at How Mine, as the company moves to take advantage of bullish bullion prices in the market, Mining Zimbabwe can report.
By Ryan Chigoche
The initiative is expected to boost overall EBITDA and unlock additional value from existing resources, positioning the company to deliver stronger returns to shareholders.
The project centres on the recovery of residual gold contained in historic tailings deposited over decades of underground mining at How Mine. These surface sands, which were previously considered uneconomic to process, have become increasingly attractive as gold prices strengthen and as processing technologies improve.
However, this upside remains subject to the successful completion of the testing phase and several assumptions, risks, and market-driven uncertainties—many of which lie beyond the company’s control.
In a statement, Namib said BW Mining has already set up equipment on site and is preparing to begin testing the sands imminently, a move aligned with the ongoing strength in the yellow metal market.
“How Mine holds a surface sands resource of 213 Koz of gold in the Inferred Resource category, as set out in the company’s SK-1300 Report. BW Mining has mobilized equipment on site and commenced preparatory work to begin the initial phase of testing the sands,” the company said.
“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 statement added.
By partnering with BW Mining, Namib Minerals aims to re-evaluate and commercially exploit this secondary resource, turning legacy waste material into an additional revenue stream while maximising the overall life-of-mine value.
The project also dovetails with Namib Minerals’ broader US$300 million capital programme, which is focused on developing higher-return opportunities and enhancing long-term portfolio value.
Meanwhile, for the 2025 financial year, the Nasdaq-listed miner announced that output from How Mine is expected to fall to 24,000–25,000 ounces—down roughly 32–34% from the 36,600 ounces produced in 2024. Adjusted EBITDA is projected at US$22–26 million.
Namib Minerals said the lower guidance reflects a deliberate strategic pullback aimed at stabilising ore quality and improving processing efficiency, rather than any sign of operational weakness.
