Namib Minerals is funding the restart of two mines in Zimbabwe and DRC exploration using cash flow from its How gold mine. CEO Ibrahimia Tall announced plans to boost How’s output and revive operations at Mazowe and Redwing mines, while also exploring battery metals in Congo. Early results show promising copper and cobalt potential.

Namib Minerals (Nasdaq: NAMM) is leveraging the cash flow generated from its How gold mine in Zimbabwe to finance the reopening of two additional mines while also undertaking copper and cobalt exploration in the Democratic Republic of Congo (DRC), as reported by CEO Ibrahimia Tall. In a recent video interview with The Northern Miner, Tall disclosed that a feasibility study is currently being conducted to enhance How’s production from its previous output of 27,000 ounces for the year.

The CEO highlighted the company’s plans to restore operations at its Mazowe and Redwing mines, aiming to expand its production footprint in Zimbabwe. “We are cash generators and we intend to generate way more cash when we reopen these mines,” Tall stated during his address at the annual Prospectors and Developers Association of Canada conference in Toronto.

Additionally, Tall indicated that the cash flow from How will support exploration and developmental efforts on 13 battery metal permits in the DRC. He noted that initial drilling results have revealed promising near-surface copper and cobalt mineralization. Namib Minerals is optimistic about converting some of these permits into declared resources within the year.

For more insights, viewers can watch the full interview hosted by Devan Murugan on MINING.com.

In summary, Namib Minerals is poised to enhance its mining operations in Zimbabwe by restarting two additional mines and conducting fruitful exploration activities in the DRC. The strategic use of cash flow from the How gold mine underscores the company’s commitment to growing its production capabilities and transitioning towards battery metal resources.

Original Source: www.mining.com