Namib Minerals (NAMM:NASDAQ)
NAMM’s three historically producing, infrastructure-rich assets, including the operating How Mine and restart-ready Mazowe and Redwing, create a low-risk platform to leverage more than 4.0Moz of resources and significantly grow production.
The Company plans to grow production through the How Mine mill expansion, higher sands output, and phased restarts at Mazowe and Redwing, leveraging existing infrastructure and a supportive gold price environment over the next two to three years.
In 2025, the Company generated steady production at the How Mine with $82M in revenue and $29M in EBITDA supported by moderate C1 cash costs and is reinvesting cash flows into mill expansion and exploration as it targets ~30Koz of production in 2026.
Investment Summary
Company Description
Namib Minerals is a gold producer, developer and explorer with operations focused in Zimbabwe. Namib Minerals and its subsidiaries (including Greenstone) are a significant player in Zimbabwe’s mining industry, driving sustainable growth and innovation across the sector. Currently, the Namib Minerals group operates an underground mine in Zimbabwe, with additional exploration assets in Zimbabwe and the DRC.
Research
Namib Minerals:
Research Flash
June 3, 2026
Namib Minerals:
Research Note
April 2, 2026