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[SITUATION] · [ACTIVE] · [BUSINESS]

4 clusters · 8 sources · 56 days · First seen · Last updated

Namibian energy and mining sector development

Overview

Namibia is experiencing increased activity across its energy and mining sectors. In the petroleum sector, ReconAfrica secured C$15 million through a public offering to fund exploration in the Kavango Basin, specifically targeting the Huttenberg and Elandshoek Formations. The capital is intended for technical evaluations at the Kavango West 1X well, including an open-hole horizontal sidetrack and production testing programme.

Following a production test that successfully flowed gas and liquids from two separate zones to the surface, ReconAfrica is analyzing hydrocarbon samples sent to the United States to determine the liquid content of the gas. To assess reservoir production potential and commercial viability, the company is preparing to drill a horizontal well extending nearly 1,000 meters, to be followed by a second appraisal well and horizontal test. This technical data will be used to reach a final investment decision.

In the mining sector, Golden Deeps Limited has committed N$95 million to exploration in the Otavi Mountain Land through 2031. Recent diamond drilling at the Graceland prospect confirmed high-grade zones of copper, silver, zinc, lead, and germanium, with rock-chip sampling yielding up to 47.3% copper. The company is now launching a deeper drilling program targeting three priority sulphide zones along an 800-metre corridor.

Additionally, Bezant Resources Plc is nearing production at its Hope and Gorob project. The company has established a 10,000-tonne stockpile of run-of-mine ore and expects to produce its first copper concentrate in early October, with the first shipment anticipated in early November. This is supported by a US$7 million prepayment facility and an agreement to sell its copper concentrate to Hartree Metals.

Entities

Namibia · Ngamiland · Golden Deeps Ltd. · Botswana · Ryan Kubik

Timeline

  1. [BUSINESS] 2 sources
    Mineral exploration advances in Botswana and Namibia

    Botswana Minerals has secured environmental approval for copper exploration in Ngamiland, while Golden Deeps reports high-grade copper, zinc, and silver findings at its Graceland prospect in Namibia.

  2. [BUSINESS] 2 sources
    ReconAfrica tests Kavango West gas samples in Namibia

    ReconAfrica is analyzing gas samples from its Kavango West discovery in Namibia and preparing to drill a horizontal well to assess commercial viability.

  3. [BUSINESS] 3 sources
    Namibian mining sector sees increased exploration and production activity

    Mining firms Golden Deeps and Bezant Resources are advancing major mineral projects in Namibia, with Golden Deeps committing N$95m to exploration and Bezant nearing its first copper concentrate production.

  4. [BUSINESS] 2 sources
    ReconAfrica secures C$15 million for Kavango Basin exploration

    ReconAfrica has secured C$15 million through a public offering to fund horizontal sidetrack drilling and production testing at its Kavango West 1X well in Namibia.

Sources

africanminingmarket.com · entrepreneurs.co.bw · marketwire.com · miningandenergy.com.na · mugglehead.com · namibiaoilandgas.com · nsx.com.na · share-talk.com

This summary has been updated 2 times: see revision history