NEW YORK, (GLOBE NEWSWIRE) — Namib Minerals (Nasdaq: NAMM) has announced a major operational development following the conclusion of a new agreement with Bitumen World Mining (BW) for the treatment and retreatment of surface sands at How Mine in Zimbabwe.
According to the company’s statement released through Globe Newswire, Namib Minerals has entered into a strategic partnership with BW Mining, a well-established mining and civil works contractor, to undertake the processing of sands at the historic gold operation. How Mine currently contains an estimated 213,000 ounces of gold in surface sands within the Inferred Resource category, as detailed in the company’s SK-1300 Report.
BW Mining has already deployed equipment to the site and begun preparatory work for the initial testing phase. Namib Minerals expects that, pending successful test results, the partnership will allow the company to take advantage of firm gold prices and tap into BW Mining’s strong operational capacity to extract gold efficiently from the sands.
The company said the initiative is designed to boost overall EBITDA and unlock additional value from existing resources, thereby enhancing returns for shareholders. However, Namib Minerals cautioned that these projections depend on the outcome of the testing programme and are subject to multiple risks, assumptions, and market-driven uncertainties outside the company’s control.
Namib Minerals also noted that the collaboration with BW Mining complements its ongoing capital projects, which continue to prioritise high-return opportunities and long-term value creation across its portfolio.
