Namib Minerals Sees Significant Revenue Growth Amid Stronger Gold Price

Namib Minerals reported its financial results for the first half of 2026, showing significant improvements in revenue and adjusted EBITDA. The company's revenue increased by 40% to $50.8 million, while adjusted EBITDA rose by 76% to $19.0 million. This growth was largely driven by a stronger gold price environment, with the average net realized price increasing by 48% to $4,195 per ounce.

The company's production costs decreased by 3% to $17.9 million, despite a 15% increase in power tariffs. However, as fewer ounces were sold, the cost per ounce rose by 4%. The group's all-in sustaining cost (AISC) was $3,078 per ounce, compared to $2,462 per ounce in the prior year period.

Namib Minerals also provided an update on its operational progress. The expansion of the milling plant at How Mine is substantially complete and commissioning is expected in mid-October. This will increase the processing capacity by approximately 36%. Additionally, the company has accelerated the restart of Redwing Mine, with first production targeted for no later than January 2027.