Namib Minerals (NAMM) CEO exits as CFO Tulani Sikwila takes on dual CEO-CFO role

Rhea-AI Filing Summary

Namib Minerals announced a leadership change as its Chief Executive Officer, Ibrahima Tall, resigned effective March 13, 2026, while remaining on the board. The company stated that his decision did not involve any disagreement with the board or management, operations, policies or practices.

Under a settlement agreement, Mr. Tall will receive a cash payment of $834,416.50 and an equivalent value in ordinary shares based on the 10-day VWAP, resulting in 255,722 shares, and all of his outstanding Restricted Stock Units vested on March 13, 2026. The Board appointed Tulani Sikwila, already Chief Financial Officer, to serve concurrently as Chief Executive Officer from the same date.

Positive

• None.

Negative

• CEO resignation and leadership concentration: Chief Executive Officer Ibrahima Tall resigned effective March 13, 2026, and the Board appointed CFO Tulani Sikwila to hold both CEO and CFO roles, concentrating leadership and potentially increasing key-person risk.
• Material separation package and equity issuance: The settlement grants Mr. Tall a cash payment of $834,416.50, an equal-value share grant of 255,722 ordinary shares based on the 10-day VWAP, and full vesting of all outstanding Restricted Stock Units, creating a notable cost and additional share issuance.

Insights

Corporate governance analyst

CEO resignation with sizable exit package and CFO dual role raises governance and execution questions.

The resignation of Ibrahima Tall as CEO is a significant leadership event, even though he remains a director and the company notes no disagreements. Such transitions can affect strategic continuity, particularly for a developing resources business.

The settlement grants $834,416.50 in cash, an equal value in shares translating to 255,722 ordinary shares, and full vesting of all Restricted Stock Units effective March 13, 2026. This is a meaningful transfer of value and increases equity issuance tied to one individual.

Tulani Sikwila now serves as both Chief Executive Officer and Chief Financial Officer. Combining these roles concentrates financial and operational authority in one person. Future company filings may clarify how the board supports this dual mandate and whether additional senior hires rebalance responsibilities.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2026

Commission File Number 001-42685

Namib Minerals

(Translation of registrant’s name into English)

71 Fort Street, PO Box 500,

Grand Cayman, Cayman Islands, KY1-1106

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒            Form 40-F ☐

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Resignation of Executive Officer

On March 13, 2026, Ibrahima Tall resigned (the “Resignation”) as Chief Executive Officer of Namib Minerals (the “Company”) but will remain a director of the Company. Mr. Tall’s decision did not involve any disagreement with the board of directors of the Company, or the Company’s management, operations, policies or practices. In connection with the Resignation, Mr. Tall and the Company entered into a settlement agreement which provides that, among other things, Mr. Tall will release the Company from any and all claims relating to Mr. Tall’s employment with the Company, Mr. Tall will receive a cash payment of $834,416.50 and an equivalent dollar amount in ordinary shares, par value $0.0001 per share, of the Company based on the 10-day VWAP, resulting in 255,722 shares, and all of Mr. Tall’s outstanding Restricted Stock Units will vest, effective March 13, 2026.

The Board has appointed Tulani Sikwila to serve as the Company’s Chief Executive Officer, in addition to his role as Chief Financial Officer, with effect from March 13, 2026.

This report shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, as amended, except to the extent specifically provided in such a filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

NAMIB MINERALS
By:	/s/ Siphesihle Mchunu
Name:	Siphesihle Mchunu
Title:	General Counsel

Date: March 18, 2026

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FAQ

What leadership change did Namib Minerals (NAMM) disclose in this 6-K?

Namib Minerals reported that Chief Executive Officer Ibrahima Tall resigned effective March 13, 2026, but remains a director. The Board appointed existing Chief Financial Officer Tulani Sikwila to also serve as Chief Executive Officer from the same date, consolidating both roles in one executive.

Did Ibrahima Tall’s resignation from Namib Minerals involve any disagreement?

The company stated that Ibrahima Tall’s decision to resign as Chief Executive Officer did not involve any disagreement with the board of directors or with management, operations, policies, or practices. This language signals an orderly transition rather than a dispute-driven leadership change.

What severance or settlement package will former CEO Ibrahima Tall receive from Namib Minerals (NAMM)?

Under a settlement agreement, Ibrahima Tall will receive a cash payment of $834,416.50 and an equivalent dollar amount in Namib Minerals ordinary shares, resulting in 255,722 shares. In addition, all of his outstanding Restricted Stock Units will fully vest effective March 13, 2026.

How many Namib Minerals shares will be issued to Ibrahima Tall under the settlement?

The settlement provides that Namib Minerals will issue ordinary shares equal in value to $834,416.50 based on the 10-day VWAP, which the filing states results in 255,722 shares. These shares are in addition to the full vesting of all his outstanding Restricted Stock Units.

Who is the new CEO of Namib Minerals (NAMM) after the March 2026 change?

The Board appointed Tulani Sikwila, previously serving as Chief Financial Officer, to also serve as Chief Executive Officer of Namib Minerals. His dual appointment as CEO and CFO became effective March 13, 2026, following the resignation of former CEO Ibrahima Tall from that role.