LONDON: Kazera Global plc (AIM: KZG), the London-listed investment company, has announced a deal to expand its holdings in two key South African mining ventures, a move it says will streamline ownership and reinforce its commitment to local stakeholders.
The company has agreed to acquire additional shares in Whale Head Minerals (Pty) Ltd (“WHM”) and Deep Blue Minerals (Pty) Ltd (“DBM”) from PDNA Property Investments (Pty) Ltd for a total cash consideration of ZAR 973,374 (approximately US$60,000), a press release said..
Under the share purchase agreement, Kazera will take over 21 ordinary shares in WHM—representing 21% of that entity’s issued capital—plus six ordinary shares in DBM, equivalent to 6% of its issued share capital. The consideration breaks down to ZAR 811,145 (US$50,000) for the WHM stake and ZAR 162,229 (US$10,000) for the DBM shares, both to be funded from existing cash reserves. Completion is expected within days, pending final transfer documentation and payment.
Ownership Changes at a Glance
· WHM: Kazera’s legal interest will rise from 70% to 91%. Of that, 79% will be held directly for the company’s benefit, while 5% each will be preserved for employees and local communities, and 2% for a third party. The company says it will put formal governance arrangements in place for those beneficiary shares shortly.
· DBM: Kazera already holds a 100% direct interest in DBM, but beneficial ownership stood at 74%, with 26% allocated to Black Economic Empowerment (BEE) partners. Following the acquisition of PDNA’s 6% stake, Kazera’s beneficial interest will rise to 80%, leaving 20% with BEE partners.
Strategic Rationale
The board described the transaction as modest in size but strategically significant. “It further simplifies the ownership structure around our South African assets and increases Kazera’s beneficial interest in DBM,” said Interim CEO Richard Jennings.
Jennings also emphasized the importance of legal clarity, noting that the deal grants Kazera legal title to an additional 21% of WHM while maintaining existing benefit arrangements for employees, the local community, and a third party. “Unlike my predecessor, I intend to put in place the appropriate legal structure of title for these entities in the very near term,” he stated, adding that the move would allow those groups to “benefit directly from the continuation of the sea change” occurring at the company’s flagship heavy mineral sands project.
Aftan Settlement Payment Update
In a separate development, Kazera provided an update on the US$500,000 settlement payment due from Hebei Xinjian Construction CC, first announced on June 22, 2026. The company said it has seen a payment instruction from China and is now working with relevant parties and advisers in Namibia to facilitate receipt of the funds as soon as possible.
While the process has taken longer than expected due to exchange control and banking procedures, management remains confident the payment will be made. “Based on our ongoing engagement with Hebei and the documentation received to date, we remain confident that the payment will be made and will update shareholders once funds have been received,” Jennings added.
Kazera says its near-term focus remains on driving discipline, alignment, and commercial momentum across its South African portfolio, particularly as it advances WHM’s heavy minerals operations and DBM’s diamond interests. Further announcements are expected as the Aftan payment process concludes.
