Kombat Mine Sold for N$428.7 Million in All-Cash Deal. Canadian mining company Trigon Metals has finalized the sale of its 80% stake in Namibia’s Kombat Mine to Horizon Corporation and Kamino Minerals for N$428.7 million (approximately US$24 million). The transaction, concluded on May 27, 2025, is structured as an all-cash deal
The Kombat Mine, located near Otavi in Namibia’s Otjozondjupa Region, had resumed operations in May 2024 after a 14-year hiatus. Trigon Metals had invested in restarting the mine, aiming to revitalize its copper production capabilities.
Knowledge Katti, a Namibian businessman and founding shareholder of Trigon Namibia, expressed strong support for the transaction. He emphasized that Horizon Corporation’s involvement could lead to job creation and improved living standards for the Kombat community. “Horizon’s proven experience in the mining sector positions them to successfully reopen the mine, creating much-needed jobs for our community,” Katti stated. Republikein+5
Trigon Metals’ Executive Chairman and CEO, Jed Richardson, noted that the company is now moving toward securing shareholder approval for the deal. He mentioned that, upon a successful vote, an initial US$2 million would be advanced to Trigon as part of the total sale consideration.
The sale is subject to customary closing conditions, including regulatory approvals in Namibia. Once finalized, Horizon Corporation plans to invest in the development of the Kombat Mine, aiming to enhance its production capacity and contribute to the local economy.