Namib Minerals (Nasdaq: NAMM) said it is accelerating the restart of its Redwing Mine in Zimbabwe, with first gold production targeted for November 2026, ahead of schedule. The change follows a Zimbabwe policy reserving the small- and medium-scale gold mining sector for citizens, which sets production requirements for foreign-owned operators by January 1, 2027. The company initially expects to process about 3,600 tonnes of ore and produce about 338 ounces of gold per month, rising to about 10,000 tonnes and 835 ounces per month by Q2 2027, a step that depends on a higher-capacity winder expected by the end of Q1 2027. Redwing produced about 650,000 ounces of gold between 1981 and 2023, and the company says its FY2026 guidance is unchanged.
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XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 11/03/2026 | 3,930.22 |
| Change that session | -0.42% |
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