Kazera Global PLC Export of Tantalum and pan plant installation (8860S)

TIDMKZG

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. 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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July 19, 2022 02:00 ET (06:00 GMT)

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