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It was preserved as a record on September 14; the timeline below shows how it unfolded, with sources. Get the briefing to follow the top situations still developing: three emails a week, sourced and in order.

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3 clusters · 9 sources · 7 days · First seen · Last updated

Gold mining development in Namibia

Overview

Gold exploration and development activities are advancing in Namibia. Ongwe Minerals has identified a 6 km gold anomaly at the Nguni target within its Omatjete Gold Project. Located in the Okondeka fault zone, soil sampling from 1,605 collected samples revealed significant gold concentrations, with a peak value of 1,310 ppb. The company plans to launch a 5,000-meter drilling campaign using diamond and reverse circulation (RC) methods in August to determine if the mineralization extends into deeper structures.

In the Erongo region, Wia Gold has finalized its funding strategy for the Kokoseb Gold Project. The company secured firm commitments for a $125 million equity placement for pre-production capital and signed indicative terms with Sprott for a $360 million debt facility to fund mine construction. Wia Gold, which holds an 80% interest in the project through a joint venture with state-owned Epangelo, expects an initial 14-year mine life with average annual production of approximately 150,000 ounces over the first decade. The project has an updated mineral resource estimate of 3.78 million ounces of gold, with first gold production targeted for the fourth quarter of 2028.

Entities

Ongwe Minerals · Namibia · Dave Underwood · Wia Gold · Nguni prospect

Timeline

  1. about 1 month ago

    [BUSINESS] 2 sources
    Ongwe Minerals identifies 6 km gold anomaly in Namibia

    Ongwe Minerals has identified a 6 km gold anomaly at its Omatjete project in Namibia and plans a 5,000 m drilling program in August to test for large-scale mineralization.

  2. about 1 month ago

    [BUSINESS] 3 sources
    Wia Gold secures funding for Kokoseb Gold Project in Namibia

    Wia Gold has secured a $125 million equity placement and a $360 million debt facility from Sprott to fund the development of the Kokoseb Gold Project in Namibia.

  3. about 1 month ago

    [BUSINESS] 4 sources
    Ongwe Minerals to launch drilling after gold discovery in Namibia

    Ongwe Minerals will begin a 5,000m drilling program in Namibia following the discovery of a 6km continuous gold strike at its Nguni prospect.

Sources

africanminingmarket.com · cafef.vn · finnewsnetwork.com.au · merhaba.net · mining.com.au · miningmx.com · observer24.com.na · radiocity.sk · video.soha.vn

This summary has been updated 1 time: see revision history