Namib Minerals Lands $6.5M Term Loan to Power Redwing Mine Expansion

Namib Minerals (Nasdaq: NAMM) announced on September 29, 2026, that its wholly owned subsidiary, Bulawayo Mining Company (Private) Limited, has secured a US$6.5 million non-dilutive term loan facility with African Banking Corporation of Zimbabwe Limited (BancABC). The new facility is consolidated with existing term loan and overdraft facilities, enhancing the company's liquidity and working capital position.

The funds are earmarked for Step 3 of the development timelines and milestones for the Redwing Mine, which were previously announced in July 2026. This strategic financing supports the company's ongoing resource definition and bankability efforts, with no dilution to existing shareholders. The consolidation of facilities with BancABC simplifies the company's debt structure and provides a clear pathway for future development.

The successful securing of this loan underscores Namib Minerals' ability to attract institutional financing in a challenging economic environment. It is expected to accelerate progress at the Redwing Mine, potentially boosting local employment and contributing to Zimbabwe's mining output. Investors will be watching for further updates on the development milestones and the company's operational performance in the coming quarters.