REG - Kazera Global PLC - Environmental Authorisation Secured for Perdevlei

Kazera GlobalAnnouncement

20/11/2024 07:00

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RNS Number : 8717M  Kazera Global PLC  20 November 2024

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inside information is now considered to be in the public domain.

 

20 November 2024

Kazera Global plc

("Kazera" or "the Company")

Environmental Authorisation Secured for Perdevlei

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is delighted
to announce that its subsidiary, Whale Head Minerals (Pty) Ltd ("WHM"), has
been granted Environmental Authorisation ("EA") by the South African
Government's Department for Mineral Resources and Energy ("DMRE") for the
Perdevlei (2a) concession ("Perdevlei") (See RNS dated 15 October 2024).

 

This significant milestone, achieved well ahead of the anticipated January
2025 timeline, brings WHM closer to securing a mining right for the circa
3,095 hectare Perdevlei concession ("Mining Right"), which contains
approximately 170 hectares of high-grade heavy mineral sands ("HMS") deposits
that are believed to be suitable for immediate mining.

The granting of the EA follows WHM providing an environmental guarantee under
South Africa's stringent National Environmental Management Act ("NEMA"). The
Company will now notify all registered interested and affected parties
("I&APs) that the EA has been granted. The I&APs then have 21 days in
which to lodge any appeals against the granting of the EA. If no appeals are
received, it is expected that the DMRE will proceed to issue the Mining Right.

Dennis Edmonds, Chief Executive Officer of Kazera Global plc commented: "

"I am delighted we have received the Environmental Authorisation for the
Perdevlei concession so quickly, and months ahead of expectations. Full credit
is due to the DMRE for their professionalism and efficiency in dealing with
this matter.

 

"This swift approval marks a significant step forward for the Company as we
progress towards obtaining a Mining Right for Perdevlei. Obtaining the EA
approval over two months earlier than expected has considerably advanced our
timetable. While there is always the potential for delays, receiving
Environmental Authorisation early puts us in an even stronger position to
secure the mining right early in Q1 2025.

 

"With Walviskop nearing revenue generation, Perdevlei offers an incredible
opportunity to scale up HMS operations and accelerate growth in this
mineral-rich area of South Africa."

**ENDS**

 

 Kazera Global plc                                             kazera@stbridespartners.co.uk

 Dennis Edmonds, CEO                                            

 Cavendish Capital Markets Ltd (Nominated Adviser and Broker)

 Derrick Lee / Pearl Kellie (Corporate Finance)                Tel: +44 (0)207 220 0500

  
 St Brides Partners (Financial PR)

 Paul Dulieu / Isabel de Salis                                 kazera@stbridespartners.co.uk (mailto: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 is now instituting 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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