Namib Minerals Announces Expanded Milling Plant at How Mine Operating at Full Capacity, Ahead of Schedule
The expansion adds approximately 36% to processing capacity and is expected to ease the milling constraint at How Mine.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Namib Minerals (NAMM) has commissioned its expanded How Mine milling plant, now operating at approximately 55,000 tonnes per month. Capacity increased approximately 36% from approximately 40,500 tonnes per month, reaching full rate ahead of the end-December 2026 target.
The company expects the expansion to ease its milling constraint and spread existing costs across greater production volumes. Formal 2027 production and cost guidance is expected in Q1 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointHow Mine capacity increased approximately 36%, from approximately 40,500 to approximately 55,000 tonnes per month.
- Moderate point. Forward-looking: it has not happened yet and may not happen.Additional milling capacity is expected to alleviate the constraint that has limited How Mine’s throughput.
- Minor pointFull-rate operations achieved ahead of the approximately six-to-eight-week ramp-up timeline and end-December 2026 target.
- Minor point. Forward-looking: it has not happened yet and may not happen.Existing cost base is expected to be spread across greater production volumes.
Negative
- None.
Key Figures
- Expanded monthly processing capacity
- Approximately 55,000 tonnes per month
- How Mine plant operating at full rate
- Prior monthly processing capacity
- Approximately 40,500 tonnes per month
- How Mine, before the expansion
- Capacity increase
- Approximately 36%
- How Mine milling capacity expansion
- Previously expected ramp-up and full-rate timing
- Approximately six to eight weeks; end of December 2026
- The plant reached full rate ahead of this timeline
Historical Context
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Commissioning finished ahead of mid-October; full capacity remained targeted for December.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Ramp-up completed well ahead of the six-to-eight-week timeline and the end-of-December target
NEW YORK, Oct. 26, 2026 (GLOBE NEWSWIRE) -- Namib Minerals (“Namib” or “the Company”) (Nasdaq: NAMM), today announced that the expanded milling plant at How Mine has been commissioned and is now operating at its full rate of approximately 55,000 tonnes per month.
As disclosed in the Company’s first-half 2026 results on October 1, 2026, commissioning was expected in mid-October, followed by a ramp-up of approximately six to eight weeks, with the plant expected to reach its full rate by the end of December 2026.
The plant has reached that rate well ahead of this timeline. “Reaching full capacity this quickly is a credit to the How Mine team, who delivered the expansion safely and ahead of plan reflecting the teams continued operational excellence” said CEO Tulani Sikwila.
The expansion lifts How Mine’s processing capacity from approximately 40,500 tonnes per month to approximately 55,000 tonnes per month, an increase of approximately
The Company expects to provide formal 2027 production and cost guidance, including Redwing Mine’s anticipated contribution, in Q1 2027.
About Namib Minerals
Namib Minerals (NASDAQ: NAMM) is a gold producer, developer and explorer with operations focused in Zimbabwe. Currently Namib Minerals operates the How Mine, an underground gold mine in Zimbabwe, and aims to restart two assets in Zimbabwe. For additional information, please visit namibminerals.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, statements regarding the restarts of mines, future financing or other future events or circumstances, including any underlying assumptions,. Forward-looking statements are typically identified by words such as “expects,” “intends,” “plans,” “targets,” “anticipates,” “believes,” “will,” “may” and similar expressions.
These statements are based on management's current expectations and assumptions and are subject to significant risks and uncertainties, many of which are beyond the Company's control, that could cause actual results to differ materially from those expressed or implied.
Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. No assurance can be given that the Proposed Facility will be completed or funded, or that the development milestones, funding or production targets described in this press release will be achieved within the expected timeframes, or at all.
Contact:
Ira M. Gostin
Investor Relations:
Investor.relations@namibminerals.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is Namib Minerals’ expanded How Mine milling capacity?
How Mine’s expanded milling plant is commissioned and operating at approximately 55,000 tonnes per month, up from approximately 40,500 tonnes per month. This represents an increase of approximately 36%.
When will Namib Minerals provide 2027 production and cost guidance?
Namib Minerals expects to provide formal 2027 production and cost guidance in Q1 2027, including Redwing Mine’s anticipated contribution.