Namib Minerals secures US$6.5 million term loan facility from Banc ABC
NAMM•Namib Minerals secured a US$6.5 million term loan from Banc ABC to partially fund Step 3 development at Redwing Mine, including surface exploration drilling and work toward a bankable definitive feasibility study.
1. Loan to fund mine development
Namib Minerals said the facility will partially fund Step 3 milestones at Redwing Mine, including surface exploration drilling, and support advancing the definitive feasibility study to full bankability to upgrade and extend the resource base. The Step 2 technical program is underway and fully funded, dewatering was completed on Sept. 21, 2026, and the company expects to secure the remaining Step 3 funding through a sequenced, non-dilutive financing plan.
