• Namib Minerals plans to revive the idle Mazowe and Redwing mines with a $300 million investment.

• CEO Ibrahima Tall says preparatory work could take 18 to 24 months after securing funding.

• The company recently listed on Nasdaq and is exploring private placements and capital

Namib Minerals is seeking $300 million to resume production at its Mazowe and Redwing gold mines in Zimbabwe, both of which have been on care and maintenance since 2019.

Speaking to Reuters on July 15, Namib CEO Ibrahima Tall said the preparatory work ahead of the restart could take between 18 and 24 months once the funds are secured.

Mazowe is estimated to hold 1.2 million ounces of gold at a grade of 8.4 g/t, while Redwing contains 2.5 million ounces at 3.07 g/t. However, the classification of these resources remains unspecified. Few details have been disclosed regarding the projected output once operations resume.

Last February, Tall had told SE Asia Consulting that $200 million would be allocated to Redwing and $100 million to Mazowe, to finance feasibility studies and the construction of mining infrastructure.

Namib Minerals was listed on the Nasdaq Stock Exchange last month, a move that gives the firm access to U.S. investors. Regarding where they would secure the money, in February, Tall mentioned the possibility of proceeding to private placements of shares along with stock market fundraising.

Namib continues to operate the How mine, its only active gold project in Zimbabwe, which produced 37,000 ounces of gold in the 2024 financial year.

The revival of Mazowe and Redwing comes amid a favorable gold market, with prices having surged by about 30% since the beginning of 2025. 

This article was initially published in French by Aurel Sèdjro Houenou

Edited in English by Ola Schad Akinocho