DBM Awarded Extended Diamond Mining Contract

Kazera Global

24/04/2025 07:00

RNS Number : 9397F

Kazera Global PLC

24 April 2025

 

This announcement contains inside information for the purposes of Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310. With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

24 April 2025

Kazera Global plc

("Kazera", the "Group" or the "Company")

 

DBM Awarded Extended Diamond Mining Contract

 

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to announce that its subsidiary, Deep Blue Minerals (Pty) Ltd ("DBM"), has entered into a Memorandum of Agreement with Alexkor SOC Limited ("Alexkor") to extend its current right to mine diamonds at its Alexander Bay  operations on the land, to include the right to also mine beach and shore diamonds. The mining concession is for a 5 year period. This agreement with Alexkor, the government-owned entity which holds the rights to all diamonds in the area, includes a 12 month probation period during which time DBM must demonstrate it is actively operating and meeting necessary requirements in respect of health & safety compliance, capacity and production rates.

 

DBM's operations are located within the 80km-long Alexkor diamond fields in Alexander Bay, South Africa, situated between two historic De Beers mining sites. DBM is currently focused on deposits situated close to the shoreline, which are characterised by high-quality diamonds and minimal overburden. Having recently commissioned a new diamond processing plant, DBM is now actively processing diamond-bearing gravels with the aim of delivering high-concentration diamond gravel to Alexkor for final sorting and sale.

 

Kazera CEO, Dennis Edmonds, said: "We are delighted to have secured this new, extended contract directly with Alexkor, which marks a significant milestone for DBM as we ramp up our diamond mining operations. The five-year term not only offers long-term security and operational stability but also expands the areas in which we can mine for diamonds. We see this as a clear vote of confidence in both DBM's capabilities and in our potential to rejuvenate diamond mining in the Alexander Bay area."

 

**ENDS**

 

For further information, please visit the Company's website at www.kazeraglobal.com or contact:

 

Kazera Global plc
Dennis Edmonds, CEO
kazera@stbridespartners.co.uk
Strand Hanson Limited (Nominated & Financial Adviser and Broker)
Christopher Raggett / Ritchie Balmer
Tel: +44 (0)207 409 3494
St Brides Partners (Financial PR)
Paul Dulieu / Isabel de Salis
kazera@stbridespartners.co.uk

 

 

About Kazera Global plc

Kazera is a global investment company focused on leveraging the skills and expertise of its Board of Directors to develop early-stage mineral exploration and development assets towards meaningful cashflow and production. Its three principal investments are as follows:

 

Alluvial diamond mining through Deep Blue Minerals (Pty) Ltd, Alexander Bay, South Africa

Kazera currently has a 100% direct interest in Deep Blue Minerals, of which 74% is held beneficially by Kazera and 26% is held on behalf of Black Economic Empowerment partners.

 

Heavy Mineral Sands mining (including ilmenite, monazite, rutile, and zircon)  through Whale Head Minerals (Pty) Ltd, Alexander Bay, South Africa.

Kazera currently has a 70% direct beneficial interest in Whale Head Minerals together with the benefit of a loan facility entitling it to receive approximately £38m out of dividends from the other shareholders.

 

Tantalite mining in South-East Namibia (divestment in progress)

As announced on 20 December 2022, Kazera has agreed to dispose of African Tantalum (Pty) Ltd ("Aftan") for a cash consideration of US$13 million plus a debenture payment of 2.5% of the gross sales of produced lithium and tantalum for life-of-mine. Completion of the sale is subject to receipt of full consideration proceeds. Aftan has been deconsolidated from the Company's financial statements with effect from 4 January 2023 because in accordance with the terms of the sale agreement, it has relinquished control of the Aftan in favour of the purchaser, Hebei Xinjian Construction Close Corp ("Hebei Xinjian") with effect from that date. Kazera retains the right to cancel the transaction and retain all amounts paid to date in the event of default by Hebei Xinjian. The Company has now instituted legal proceedings against Hebei for payment of the balance due to it.

 

The Company will consider additional investment opportunities as appropriate, having regard to the Group's future cash flow requirements.

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