Namibia: the future Kokoseb gold mine is seeking 475 million dollars for its construction.

WIA Gold is seeking to raise $475 million to develop Kokoseb, a gold project located in Namibia. This amount comes from the definitive feasibility study (Definitive Feasibility Study, DFS) published by the company, which is a prerequisite for the final investment decision and the start of construction.

The future mine is expected to go into production in the fourth quarter of 2028. However, the information available in the cited study does not yet specify the financing arrangements chosen by WIA Gold, nor the breakdown between debt, equity, and potential industrial partners.

Kokoseb is part of the expansion of Namibian gold

Industrial gold mining in Namibia currently relies on two active mines: Navachab and Otjikoto. The development of Kokoseb could increase the number of industrial gold producing sites in the country to three, while other projects are also under consideration.

Among them is Twin Hills, another gold project expected to contribute to the potential increase in Namibian production over the coming years. However, the timeline and financing for these different projects remain separate.

For WIA Gold, the next step is to raise the necessary capital for the construction of Kokoseb, according to the needs identified in the definitive feasibility study. The announced timeline will depend in particular on securing financing, obtaining the necessary permits, and the actual start of construction work.