REG - Kazera Global PLC - Export of Tantalum and pan plant installation

Kazera GlobalAnnouncement

19/07/2022 07:00

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RNS Number : 8860S  Kazera Global PLC  19 July 2022

July 2022

Kazera Global plc

("Kazera" or the "Company")

First commercial export of Tantalum and installation of pan plant

 

Kazera Global plc, the AIM quoted investment company, is pleased to announce
that it is ready to export its first commercial delivery of Tantalum to its
Chinese partner from its wholly owned mine at Tantalite Valley, Namibia.

 

Separately, the Company has also completed the installation of a pan plant at
the Company's Alexander Bay diamond mine, so removing reliance on external
parties to process diamonds.

 

 

Highlights

 

·         Tantalum production from Namibia now  at acceptable
grades, with first shipment to Chinese  off take partner now underway

·         Tantalum production expected to be substantially increased
during Q4 2022

·         Diamond mine pan plant now installed and commissioned

·         Cashflows from diamond operations expected to substantially
improve

 

 

The Company is delighted to be able to announce that its first commercial
shipment of Tantalum is now ready for export. Considerable work has been
undertaken over recent months to improve Tantalum grades to commercially
acceptable levels. The Company is pleased to relay that this has now been
achieved and the Company now has plans in place to further upgrade the plant
to significantly increase production volumes and improve reliability during Q4
2022

In addition, the Company has now installed and commissioned the pan plant in
its Alexander Bay diamond mine in South Africa. The pan plant is capable of
processing up of 70 tons of gravel per hour and has the capacity to quickly
deal with the gravel stockpiles that the Company has built up but has not been
able to process. The new facility gives the Company complete control over its
diamond production, with Alexkor only being responsible for final sorting and
sales. The cost of the pan plant will be paid from out of cashflows from the
diamond mine. The Company also anticipates further improvement in cashflows
from diamond operations via additional income from making the pan plant
available to other contract miners when it is not being used by the Company.

The Company's Heavy Mineral Sands Mining Permit for the Alexander Bay diamond
mine has not yet been received because a further determination is still being
awaited from the relevant Minister. However, the Company remains confident
that the Department of Mineral Resources and Energy followed the appropriate
procedures in initially granting the Permit, and that its decision will be
upheld.

 

 

Dennis Edmonds, Kazera Chief Executive Officer, commented:

"Having got our grades to where we want them, we can now work on substantially
boosting Tantalum production in the near future. Exporting our first
commercial batch of Tantalum is great news and will considerably boost the
morale of all our stakeholders including our team in Namibia, as well as
generating revenue.

"The introduction of the pan plant on such favourable commercial terms into
our diamond operations gives us considerable independence and removes much of
the uncertainty that has previously plagued our diamond operations. I expect
that they will now become a regular contributor to the Company's bottom line,
so that the South African operations will no longer require funding from
Kazera's group level."

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No. 596/2014 ('MAR').

For further information on the Company, visit: www.
(http://www.kazeraglobal.com/) kazeraglobal (http://www.kazeraglobal.com/)
.com (http://www.kazeraglobal.com/)

 

 Kazera Global plc (c/o Camarco)                        Tel: +44 (0)203 757 4980

 Dennis Edmonds (CEO)

 finnCap (Nominated Adviser and Joint Broker)           Tel: +44 (0)207 220 0500

 Christopher Raggett / Tim Harper (Corporate Finance)

 Camarco (PR)

 Gordon Poole / James Crothers / Hugo Liddy               Tel: +44 (0)20 3781 8331

 

**ENDS**

 

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