Kazera Global PLC
24 August 2026
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
24 August 2026
Kazera Global plc
("Kazera" or the "Company")
Sea Concession 2A Technical Report
Final Technical Report confirms US$369.3m indicative in-situ value
from just 1.42% of Sea Concession 2A
Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to announce that, further to its announcement of 3 August 2026, the independent technical report (the "Technical Report") in respect of the Sea Concession 2A heavy mineral sands ("HMS") project in Alexander Bay, Northern Cape, South Africa ("2A" or the "Project") has now been completed, approved and signed off by Creo Geo Consulting (Pty) Ltd ("Creo").
A copy of the full Technical Report is available to download from the Company's website at https://kazeraglobal.com/reports-presentations/
The final Technical Report confirms and refines the key provisional findings announced on 3 August 2026. The initial surf-zone Evaluation Area of 42.86 hectares represents only 1.42% of the total 2A licence area (the "Evaluation Area") but contains an Inferred Mineral Resource of 6.65 million tonnes of HMS at a grade of 20.04% Total Heavy Minerals ("THM"). Creo has calculated an indicative in-situ value of approximately US$369.3 million for the contained ilmenite, garnet, zircon and rutile within this Evaluation Area alone, based on Q2 2026 FOB prices. No indicative in-situ value has been attributed at this stage to the remaining 98.58% of 2A, which the Technical Report identifies as a substantial Geological Target.
The final Technical Report further notes:
|
• |
the Evaluation Area, covering just 42.86 hectares and 1.42% of the total 2A licence area, contains an Inferred Mineral Resource of 6,651,065 tonnes of HMS at a grade of 20.04% THM; |
|
• |
Creo has calculated an indicative in-situ value of approximately US$369.3 million for the valuable heavy minerals contained within this 1.42% Evaluation Area alone, based on Q2 2026 FOB prices; |
|
• |
this comprises approximately US$174.3 million of ilmenite, US$130.0 million of garnet, US$39.4 million of zircon and US$25.6 million of rutile; |
|
• |
the Mineral Resource contains approximately 1.33 million tonnes of contained THM, of which approximately 1.31 million tonnes comprise economic heavy minerals; |
|
• |
the Inferred Mineral Resource grade compares extremely favourably with typical operating HMS mines globally and the heavy mineral assemblage contains a high proportion of economic heavy minerals, principally garnet, ilmenite, zircon and rutile; |
|
• |
the remaining 98.58% of 2A is identified as a substantial Geological Target, to which no indicative in-situ value has been attributed at this stage; |
|
• |
on a conservative basis, the Geological Target is estimated to contain an additional 265.2 million tonnes of HMS, with grades yet to be determined, refining the preliminary estimate of at least 234million tonnes; and |
|
• |
granting of the 2A Mining Right remains the key next regulatory milestone. |
The US$369.3 million indicative in-situ value relates solely to the current Mineral Resource within the 1.42% Evaluation Area. It is an indicative gross in-situ value only and does not represent recoverable value, revenue, profit, net present value or an Ore Reserve.
Richard Jennings, Interim Chief Executive Officer of Kazera Global plc, commented: "We are extremely pleased that the final Technical Report confirms the provisional results we announced on 3 August and gives us a much firmer technical foundation for 2A.
"The headline for us is that an Evaluation Area representing just 1.42% of the 2A licence area contains 6.65 million tonnes of HMS at 20.04% THM and has an indicative in-situ value of approximately US$369.3 million for its contained ilmenite, garnet, zircon and rutile.
"What is equally important is that this value relates only to the current Mineral Resource within that 1.42% Evaluation Area. The remaining 98.58% of the concession is identified as a substantial Geological Target and, even on a conservative basis, potentially hosts more than a quarter of a billion tonnes of HMS.
"This final report is an important step in demonstrating the scale and commercial potential of our flagship South African asset and the future revenue opportunity under the agreement we signed with South Africa AT Investments (Pty) Ltd on 9 July 2026. The key remaining regulatory milestone is the granting of the 2A Mining Right."
Technical Report
2A covers approximately 3,012.95 hectares and extends for around 30 kilometres along the coast between Port Nolloth and Alexander Bay, within the diamond mining concession boundaries of Alexkor SOC Limited. The Project occupies the nearshore surf-zone and mid-water areas adjacent to Alexkor's land-based diamond mining areas.
The April and May 2026 sampling programme was designed to cover as much of the 2A surf-zone area as practicable. Sampling was conducted on an unbiased grid and comprised 30 samples, with 18 samples collected from the southern section and 12 from the northern section. Pit depths ranged from 4.5 metres to 8.9 metres.
Creo states that sufficient exploration data has been acquired to estimate a Mineral Resource for the 2A surf zone in accordance with JORC reporting standards. The Technical Report states that the sampling is representative, covers the deposit appropriately and demonstrates geological and grade continuity.
Mineral Resource Estimate
The Mineral Resource estimate relates to the 42.86 hectare Evaluation Area, representing 1.42% of the total 2A area. The final Technical Report confirms the following Inferred Mineral Resource:
|
Classification |
Resource tonnage |
THM grade |
Contained THM |
Contained economic HM |
|
Inferred |
6,651,065 tonnes |
20.04% |
1,332,873 tonnes |
1,312,920 tonnes |
The principal economic heavy minerals contained within the Mineral Resource are:
|
Mineral |
Contained tonnes |
|
Garnet |
649,895 |
|
Ilmenite |
590,814 |
|
Zircon |
26,258 |
|
Rutile |
19,694 |
The Technical Report notes that typical head grades at operating heavy mineral mines globally are in the range of 8% to 12% THM and that valuable heavy minerals typically comprise approximately 50% to 60% of the heavy mineral assemblage. By comparison, the Evaluation Area has a THM grade of 20.04% and the report states that economic heavy minerals comprise approximately 98.5% of the THM assemblage.
No Ore Reserves have been declared at this stage.
Indicative In-Situ Value
The final Technical Report calculates an indicative in-situ value of approximately US$369.3 million for the contained ilmenite, garnet, zircon and rutile within the current Mineral Resource in the 42.86-hectare Evaluation Area, representing just 1.42% of 2A, based on Q2 2026 FOB prices. The component values are set out below:
|
Mineral |
Contained tonnes |
Price per tonne used by Creo |
Indicative in-situ value |
|
Ilmenite |
590,814 |
US$295 |
US$174.3m |
|
Garnet |
649,895 |
US$200 |
US$130.0m |
|
Zircon |
26,258 |
US$1,500 |
US$39.4m |
|
Rutile |
19,694 |
US$1,300 |
US$25.6m |
|
Total |
US$369.3m |
The Company notes that the US$369.3 million in-situ value relates only to the current Mineral Resource within the Evaluation Area. It is indicative only and does not represent recoverable value, revenue, profit, net present value or an Ore Reserve and is subject to, among other things, mineral recoveries, mining and processing costs, capital costs, transport, product specifications, permitting, environmental constraints and commodity price movements. No indicative in-situ value has been attributed to the wider Geological Target at this stage.
Geological Target
In addition to the current Mineral Resource, Creo identifies the remaining 98.58% of 2A as a substantial Geological Target. On the conservative basis set out in the Technical Report, and based on extrapolation of the current Inferred Mineral Resource and the observed homogeneous nature of the deposit thus far, Creo considers that the 2A area has the potential to host at least 265.2 million tonnes of HMS.
The Geological Target is conceptual in nature. The wider area has not yet been subjected to the same level of exploration as the Evaluation Area, its grade has yet to be determined and there has been insufficient exploration to estimate a Mineral Resource or Ore Reserve over that area. It is therefore uncertain whether further exploration will result in the estimation of any additional Mineral Resource or Ore Reserve. No indicative in-situ value has been attributed to the Geological Target at this stage.
Next Steps
The Technical Report states that further exploration is warranted and that there is significant scope to expand the current resource footprint. Creo notes that the geological controls observed to date are consistent with wave-driven nearshore deposition within a predictable active marine framework, although specialised exploration and sampling techniques will be required for the deeper-water areas of 2A.
Granting of the 2A Mining Right remains the key next regulatory milestone. Subject to that milestone, the Technical Report will provide the technical basis for the next phase of exploration, mine planning, metallurgical optimisation and commercial development of the Project.
Qualified Person Statement
The technical information contained in this announcement has been reviewed by Dr Johan Hattingh (Pr. Sci. Nat.), who is a Qualified Person for the purposes of the JORC Code and who is responsible for the preparation of the Technical Report. Dr Hattingh has reviewed and approved the technical information contained in this announcement.
Dr Hattingh is registered with the South African Council for Natural Scientific Professions and is a full-time employee of Creo. He has more than 37 years' geological experience and has conducted several site inspection visits to 2A and neighbouring areas between 2016 and 2026.
Dr Hattingh is also a director of Kazera Global plc and has disclosed to the Company and its advisers the full nature of his relationship with Kazera and Whale Head Minerals, including any matter that could reasonably be perceived as a potential conflict of interest. Dr Hattingh has confirmed that he is satisfied that the Technical Report is based on, and fairly and accurately reflects, the supporting technical information relating to Exploration Targets, Exploration Results and Mineral Resources.
Creo has confirmed that its fee for preparing the Technical Report is payable in accordance with normal professional consulting practice, is not contingent on the outcome of the report or any transaction, and that Creo has no pecuniary or other interest that could reasonably be regarded as affecting its ability to provide an unbiased opinion in relation to the Mineral Resources and Ore Reserves of Whale Head Minerals.
Cautionary Statement
The Mineral Resource referred to in this announcement is not an Ore Reserve. No Ore Reserves have been declared in respect of 2A.
The indicative in-situ value referred to in this announcement does not represent recoverable value, revenue, profit, net present value or an Ore Reserve.
The Geological Target referred to in this announcement is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource or Ore Reserve over the wider 2A area and it is uncertain whether further exploration will result in the estimation of any additional Mineral Resource or Ore Reserve.
Glossary of Terms
|
Term |
Definition |
|
Assemblage |
The combination and relative proportions of different minerals present within the heavy mineral content of a deposit. |
|
Economic heavy minerals / Economic HM |
The proportion of the heavy mineral assemblage considered to have potential economic value. In the current Mineral Resource these principally comprise garnet, ilmenite, zircon and rutile. |
|
Evaluation Area |
The initial 42.86-hectare surf-zone area of 2A evaluated for the purposes of the current Mineral Resource estimate, representing approximately 1.42% of the total 2A area. |
|
FOB / Free on Board |
A commodity pricing basis under which the quoted price relates to the product being delivered and loaded on board a vessel at the relevant port of shipment. |
|
Garnet |
A group of hard silicate minerals used in industrial applications including abrasives, waterjet cutting, blasting and filtration. |
|
Geological Target |
An area considered to have potential for mineralisation but which has not yet been explored sufficiently to estimate a Mineral Resource or Ore Reserve. |
|
Grade |
The concentration or proportion of a mineral or group of minerals within the material being assessed. |
|
Heavy Mineral Sands / HMS |
Sand deposits containing concentrations of dense minerals, including ilmenite, garnet, zircon and rutile. |
|
Ilmenite |
An iron-titanium oxide mineral and an important source of titanium dioxide (TiO₂), principally used in pigments and other industrial applications. |
|
Indicative in-situ value |
An estimate of the gross value of minerals contained within the ground using assumed commodity prices. It does not represent recoverable value, revenue, profit, net present value or an Ore Reserve. |
|
Inferred Mineral Resource |
A Mineral Resource for which quantity, grade and mineral content are estimated from geological evidence and sampling, but with a lower level of geological confidence than an Indicated or Measured Mineral Resource. |
|
JORC Code |
The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, which establishes standards for public reporting of mineral exploration and resource information. |
|
Mineral Resource |
A concentration or occurrence of material of economic interest for which there are reasonable prospects for eventual economic extraction. A Mineral Resource is not an Ore Reserve. |
|
Mining Right |
The regulatory right required to undertake mining activities over the relevant area and minerals. |
|
Ore Reserve |
The economically mineable part of a suitably classified Mineral Resource after relevant technical, economic and other modifying factors have been considered. |
|
Qualified Person / QP |
A suitably qualified and experienced professional responsible for preparing, reviewing or approving technical information reported under the applicable mineral reporting standard. |
|
Rutile |
A naturally occurring titanium dioxide mineral used principally as a high-grade titanium feedstock. |
|
THM / Total Heavy Minerals |
The total proportion of heavy minerals contained within the material being assessed. |
|
Zircon |
A zirconium silicate mineral used principally in ceramics, refractories and other industrial applications. |
ENDS
For further information, visit www.kazeraglobal.com or contact:
|
Kazera Global plc |
info@kazeraglobal.com |
|
Strand Hanson Limited (Nominated, Financial Adviser and Broker) |
Tel: +44 (0)207 409 3494 |
|
Zeus Capital Limited (Joint Broker) |
Tel: +44 (0)203 829 5000 |
Notes
Kazera Global plc (LON: KZG) is a diversified commodity investment company focused on unlocking value through production growth and disciplined portfolio management. While production builds at its Whale Head Minerals (Heavy Mineral Sands) and Deep Blue Minerals (diamond) assets in South Africa's Northern Cape province, the Company also continues to assess new opportunities to expand its growth pipeline and deliver sustainable returns.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
ENDRNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.