Katti hails N$1bn investment as Kombat nears reopening
staff reporterWindhoek
Namibian investor Knowledge Katti says the long-awaited revival of the historic Kombat Mine is firmly on track, with new partners committing nearly N$1 billion towards restarting operations next year.Katti, through his company Havana Investments, holds a 10% stake in the mine. Canadian firm Trigon Metals Inc. has agreed to sell its 80% interest to Kamino Minerals Ltd, an affiliate of Horizon Corporation Ltd, for about N$416 million (US$24 million).
The Namibian Competition Commission on 12 September approved the transaction, clearing a key regulatory hurdle. The sale still requires final approval from the TSX Venture Exchange before it can be concluded.
Major boost for jobs
Katti, a founding shareholder in Trigon Namibia, said the investment represents a significant opportunity for local employment and community upliftment.
“Our new investors are committing approximately N$1 billion to revitalise Kombat Mine, encompassing the acquisition from Trigon as well as the capital to expand operations and reopen the mine next year,” he said.
“As founding shareholders from Namibia, we chose not to exit the project but to remain co-investors, ensuring we play a role in empowering local job creation and community development.”
He emphasised that the 10% community stake in the mine – held through state-owned Epangelo Mining – will not be sold.
“We firmly believe that the value generated will contribute significantly to the social upliftment of the Kombat community, with a special focus on empowering the youth,” Katti added.
Investor commitment
Horizon director Richard Tayelor welcomed the approval, describing it as an important milestone.
“We are pleased to have reached this important step and thank the Competition Commission for their timely approval,” he said. “Horizon is committed to working alongside Trigon and all stakeholders to ensure a smooth project expansion phase and mine restart. We look forward to unlocking the mine’s long-term potential and ensuring sustainable operations for the benefit of all parties.”
Trigon, which will retain exploration interests in Namibia’s Kalahari Copperbelt as well as projects in Morocco, said further updates would follow as the transaction advances.
Mine revival
The Kombat Mine, located in the Otjozondjupa Region, has long been one of Namibia’s most storied copper producers but has been dormant in recent years.
On 16 January 2025, both of its main dewatering pumps failed – equipment critical to keeping underground operations dry. The mine suspended operations shortly after, and by 31 January 2025, about 500 workers were retrenched.
Katti told Namibian Sun this week that the mine is on course to reopen in 2026, with more jobs expected to be created once full-scale operations resume.
Namibian investor Knowledge Katti says the long-awaited revival of the historic Kombat Mine is firmly on track, with new partners committing nearly N$1 billion towards restarting operations next year.Katti, through his company Havana Investments, holds a 10% stake in the mine. Canadian firm Trigon Metals Inc. has agreed to sell its 80% interest to Kamino Minerals Ltd, an affiliate of Horizon Corporation Ltd, for about N$416 million (US$24 million).
The Namibian Competition Commission on 12 September approved the transaction, clearing a key regulatory hurdle. The sale still requires final approval from the TSX Venture Exchange before it can be concluded.
Major boost for jobs
Katti, a founding shareholder in Trigon Namibia, said the investment represents a significant opportunity for local employment and community upliftment.
“Our new investors are committing approximately N$1 billion to revitalise Kombat Mine, encompassing the acquisition from Trigon as well as the capital to expand operations and reopen the mine next year,” he said.
“As founding shareholders from Namibia, we chose not to exit the project but to remain co-investors, ensuring we play a role in empowering local job creation and community development.”
He emphasised that the 10% community stake in the mine – held through state-owned Epangelo Mining – will not be sold.
“We firmly believe that the value generated will contribute significantly to the social upliftment of the Kombat community, with a special focus on empowering the youth,” Katti added.
Investor commitment
Horizon director Richard Tayelor welcomed the approval, describing it as an important milestone.
“We are pleased to have reached this important step and thank the Competition Commission for their timely approval,” he said. “Horizon is committed to working alongside Trigon and all stakeholders to ensure a smooth project expansion phase and mine restart. We look forward to unlocking the mine’s long-term potential and ensuring sustainable operations for the benefit of all parties.”
Trigon, which will retain exploration interests in Namibia’s Kalahari Copperbelt as well as projects in Morocco, said further updates would follow as the transaction advances.
Mine revival
The Kombat Mine, located in the Otjozondjupa Region, has long been one of Namibia’s most storied copper producers but has been dormant in recent years.
On 16 January 2025, both of its main dewatering pumps failed – equipment critical to keeping underground operations dry. The mine suspended operations shortly after, and by 31 January 2025, about 500 workers were retrenched.
Katti told Namibian Sun this week that the mine is on course to reopen in 2026, with more jobs expected to be created once full-scale operations resume.
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