Namib Minerals Targets 55,000 Tonnes Monthly Capacity Expansion at How Mine by H2 2026
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 24 2025
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Source: Newsfilter
- Capacity Expansion Plan: Namib Minerals aims to increase How Mine's monthly capacity from 40,500 tonnes in 2024 to 55,000 tonnes, representing a 36% increase. This expansion is expected to be operational by the second half of 2026, enabling the company to process higher ore volumes and offset the grade reduction experienced in 2025.
- Redwing Mine Restart Preparations: The company has commenced enabling works at Redwing, with an eight-month dewatering program planned during the feasibility study phase. This critical step will allow for assessing underground conditions and refurbishing infrastructure, preparing for a phased production ramp-up.
- Capital Plan Overview: Namib Minerals' preliminary funding requirement is estimated to be between $300 million and $400 million, primarily allocated to the development of Redwing Mine. The company is pursuing a non-dilutive funding strategy to minimize shareholder dilution while supporting its growth initiatives.
- Strategic Growth Objective: Namib Minerals aims to build itself into a multi-asset mid-tier gold producer, targeting an annual production of 300,000 ounces of gold. Achieving this objective relies on the successful execution of restart programs and mine expansions as part of its long-term strategy.
Analyst Views on NAMM
Wall Street analysts forecast NAMM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NAMM is 9.50 USD with a low forecast of 9.50 USD and a high forecast of 9.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Moderate Buy
Current: 3.100
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9.50
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9.50
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9.50
Current: 3.100
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9.50
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9.50
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9.50
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About NAMM
Namib Minerals is a gold producer, developer and explorer with operations focused on Zimbabwe. The Company and its subsidiaries (including Greenstone Corporation) operate in Zimbabwe’s mining industry. It operates an underground mine in Zimbabwe, with additional exploration assets in Zimbabwe and the Democratic Republic of Congo (DRC). The How Mine is located in the Bulawayo Greenstone Belt and consists of several gold-bearing pods within a sigmoidal structure. The mineralization is mainly pyrite (>90%), with chalcopyrite, pyrrhotite, and associated silification and carbonation. Its other assets are Mazowe Mine and Redwing Mine. Mazowe Mine is situated in the Harare Greenstone Belt. Mazowe Mine has gold-bearing sulfides and quartz in shear zones. The mine has two underground sections and over 247 claims, spanning over 2,939 hectares. In the DRC, it has an interest in 13 exploration permits, which include six initial drilling holes with identified copper and cobalt potential.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
