– UK, London – Kazera Global plc (LON: KZG), the AIM-quoted investment company, announced the appointment of CEO Dennis Edmonds to the additional role of Chairman of the Board of Directors, replacing Gerard Kisbey-Green who is stepping down from the Board effective on 25 September 2024.
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 cash flow 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 90% direct interest in Deep Blue Minerals, of which 64% 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 60% direct beneficial interest in Whale Head Minerals.
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, by the terms of the sale agreement, it has relinquished control of the Aftan in favor 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 will consider additional investment opportunities as appropriate, having regard to the Group’s future cash flow requirements.
For more information: https://kazeraglobal.com/
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