REG - Kazera Global PLC - Strategic Update in relation to Aftan

Kazera GlobalAnnouncement

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RNS Number : 6141E  Kazera Global PLC  18 May 2026

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

 

18 May 2026

Kazera Global plc

("Kazera" or the "Company")

 

Strategic Update in relation to Aftan

 

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to
provide an update regarding the ongoing evaluation of strategic options
relating to its interest in African Tantalum (Pty) Ltd ("Aftan" or the
"Project"), a tantalum and lithium project in southern Namibia, and continued
and growing expressions of interest from third parties.

 

Highlights

·    Continued and growing expressions of interest received in relation to
the development of Aftan

·   Board review of historical technical and operational information
available to Kazera reinforces the Project's tantalum and lithium potential
within Namibia's emerging critical minerals sector

·    Recent technical analysis undertaken by Kazera highlights potential
dry beneficiation methodologies which may be suitable for the Project,
potentially reducing water requirements meaningfully and supporting a more
commercially attractive future development pathway

·   Technical analysis highlights broader district-scale exploration
upside, with modern drilling and Mineral Resource estimation historically
focused on only three of at least thirteen known mineralised pegmatites. There
remain significant areas of the licence relatively underexplored

·    Evaluation ongoing regarding potential strategic pathways available
to Kazera in relation to its interest in Aftan

·    Focus on identifying an appropriate route forward with minimal, if
any, recourse to Kazera shareholders for additional capital

 

As part of the Board's ongoing strategic review of the Group's asset base and
development priorities, individual directors have been taking active roles
across key strategic workstreams within the business. In this context, Paul
Dulieu, Non-Executive Director, has been supporting the Board's evaluation of
the strategic options available to Kazera in relation to its interest in
Aftan.

 

Paul Dulieu, Non-Executive Director of Kazera, commented: "Since the recent
strengthening of the Board, we have been undertaking a significant amount of
work focused on advancing key strategic priorities and identifying technically
capable and financially robust partners to help unlock value from our asset
base.

 

"In relation to Aftan, reviewing historical technical and operational
information together with recent technical analysis has reinforced our view
regarding the Project's broader potential and strategic relevance within the
critical minerals sector.

 

"Importantly, the work undertaken has highlighted what we believe may be a
more capital-efficient route to unlocking value from the Project over time,
particularly through an improved understanding of potential dry processing
pathways and the wider pegmatite system.

 

"We have received continued and growing expressions of interest in relation to
Aftan and are carefully evaluating the range of potential pathways available
to Kazera in relation to its interest in the Project. Our focus is on
identifying the right long-term route to create value for shareholders while
supporting future operational activity, job creation and economic
participation within Namibia."

 

 

Project Update and Background

As referenced in the Company's RNS on 27 April 2026, Kazera has been
evaluating a number of potential strategic pathways available to it in
relation to its interest in Aftan, including discussions with a number of
interested parties.

 

The Company also continues to progress matters relating to the previously
announced arbitration proceedings involving Hebei Xinjian Construction
("Hebei") in accordance with the relevant legal and regulatory framework.

 

As previously announced, Kazera was successful in binding arbitration
proceedings relating to payment obligations under the transaction with Hebei,
with the arbitration award finding that Hebei had breached its contractual
obligations. Under the terms of the original transaction, Kazera retained
legal title to the issued shares in Aftan as security pending full payment of
the consideration.

 

The arbitration award was final and binding, with Hebei subsequently
initiating legal proceedings in Namibia seeking a review of aspects of the
arbitration process, rather than the substantive findings of the award itself.
The Company remains confident in its legal position, has received legal advice
supporting that position, and continues to protect Kazera's interests whilst
awaiting the outcome of those proceedings.

 

Against the backdrop of strengthening tantalum and lithium market dynamics,
including tantalum prices at multi-decade highs, and continued strategic
interest in critical minerals supply chains, Kazera is receiving increasing
expressions of interest in relation to Aftan. The Board believes recent
technical work relating to dry beneficiation pathways, together with the
Project's broader pegmatite potential, further reinforces Aftan's strategic
relevance and long-term prospects.

 

Strategic and Technical Review

Over recent weeks, following the strengthening of the Board, Kazera has
reviewed the historical technical and operational information available to it
in relation to the Project, together with recently completed technical
analysis undertaken by Kazera relating to potential processing pathways and
associated commercial considerations.

 

This work included consideration of:

·      historical technical datasets and Mineral Resource Estimates;

·      historical mining activities;

·      recently completed technical work relating to dry processing
pathways;

·      broader exploration potential across the mining licence; and

·      potential phased development scenarios.

 

The Board believes the analysis undertaken has reinforced the Project's
potential significance as a tantalum and lithium opportunity within Namibia's
emerging critical minerals sector, with current tantalum and lithium prices
indicating materially enhanced potential project economics.

 

Recent technical analysis undertaken by Kazera has materially improved the
Company's understanding of potential dry processing routes with minimal water
requirements. Based on this work, the Project's mineralogy appears potentially
well suited to dry magnetic, electrostatic and triboelectric separation
techniques, which may differentiate the Project from comparable critical
minerals projects requiring more conventional water-intensive processing
routes.

 

The Board believes this could prove particularly relevant in Namibia's arid
operating environment and may offer both environmental and economic advantages
in relation to any future development pathway.

 

In particular, the review highlighted:

·   potential dry beneficiation characteristics comprising low-water
processing routes and dry separation techniques;

·     the presence of multiple mineralised pegmatites across the licence
area, with modern drilling and Mineral Resource estimation historically
focused on only three of at least thirteen known mineralised pegmatites and
broader exploration across the licence being relatively limited;

·      potential broader district-scale pegmatite upside; and

·      potential phased development pathways incorporating both tantalum
and lithium opportunities.

 

Strategic Discussions and Partnership Engagement

Kazera has received expressions of interest from, and has held discussions
with, a number of parties possessing experience across:

·      critical minerals development;

·      exploration and resource development;

·      downstream tantalum and lithium processing;

·      critical minerals supply chains; and

·      mine development and operations.

 

Kazera is evaluating a number of potential pathways available to it in
relation to its interest in Aftan. This includes consideration of structures
which may support:

·     long-term development of the Project;

·     long-term positive impact for the local community and economy;

·     recognition of the technical work completed to date;

·     the broader potential of the licence area;

·   alignment with Namibia's growing strategic importance as a source of
responsibly developed critical minerals; and

·     minimal, if any, recourse to Kazera shareholders for additional
capital.

 

Further updates will be provided as appropriate.

ENDS

 

For further information, visit www.kazeraglobal.com
(http://www.kazeraglobal.com) or contact:

 

 Kazera Global plc                                                kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)

 Paul Dulieu, Non-Executive Director
 Strand Hanson Limited (Nominated, Financial Adviser and Broker)  Tel: +44 (0)207 409 3494

 Christopher Raggett / Ritchie Balmer
 Zeus Capital Limited (Joint Broker)                              Tel: +44 (0)203 829 5000

 Harry Ansell / Simon Johnson / Katy Mitchell
 St Brides Partners Limited (Financial PR)                        kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)

 Isabel de Salis / Charlotte Page

 

Notes

Kazera Global plc (LON:KZG) is a diversified commodity investment company
focused on unlocking value through production growth and disciplined portfolio
management. While production builds at its Whale Head Minerals (Heavy Mineral
Sands) and Deep Blue Minerals (diamond) assets in South Africa's Northern Cape
province, the Company also continues to assess new opportunities to expand its
growth pipeline and deliver sustainable returns.

 

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