en.Wedoany.com Reported - Namib Minerals has announced the restart pathway and milestone timeline for the Redwing Mine in Zimbabwe, confirming that full funding has been secured for the technical scope of the Definitive Feasibility Study (DFS).
The restart plan is divided into five sequential steps, each serving as a prerequisite for the next. Step one is dewatering, which involves a phased pumping plan to safely access underground working areas. This work is ongoing and is expected to be completed in the fourth quarter of 2026. Step two is the DFS technical scope, which includes a Definitive Feasibility Study for the Redwing Mine compliant with SEC S-K 1300 standards, conducted by WSP Global. This covers engineering, metallurgy, geotechnical, hydrological, environmental, and financial modeling to validate the technical and economic parameters of the restart. Funding is fully secured, and completion is expected by early in the first quarter of 2027. Step three is resource definition and bankability, which will initiate an 8,750-meter surface exploration drilling program to advance the DFS to full bankability, expected to be completed in the fourth quarter of 2027. Step four is construction, which will commence upon completion of the DFS and a positive restart decision. Step five is restart, involving commissioning and phased production ramp-up following construction completion.
In parallel with the above pathway, two enabling work streams are progressing at the Redwing site: power infrastructure upgrades and refurbishment of existing equipment, both targeted for completion in the third quarter of 2026.
Step three represents the company's next financing phase. The company is engaging with strategic investors, lenders, and development financial institutions to secure funding support. This step will advance the DFS to full bankability through work streams including resource expansion and conversion, geotechnical and metallurgical programs, Front-End Engineering Design (FEED), capital and operating cost optimization, and environmental and permitting preparation. The company believes this step aims to assess whether the Redwing Mine's mineral resource base can support a larger-scale, sustainable mining operation.
Regarding funding for the technical scope (step two), the company's subsidiary, Bulawayo Mining Company (Private) Limited, has secured a non-dilutive term loan of USD 5 million with a 36-month term from Ecobank Zimbabwe Limited for capital works at the How Mine. This loan is to be repaid from existing production revenue at the How Mine. Internally generated cash flow previously allocated to capital works at the How Mine has been freed up and committed to funding the technical scope (step two) through to completion.
The company stated that with the restart pathway defined and DFS technical scope funding secured, the Redwing Mine is expected to move into the execution phase. The company plans to report progress on relevant milestones in each operational update and remains focused on efficiently, scaling up, and sustainably restoring production.
