Aim-listed investment company Kazera Global is poised to begin receiving operational cash flows from both its heavy mineral sands (HMS) and diamond projects in the coming weeks, the company said on March 31.

If granted, the mining right over the Perdevlei project in the Northern Cape, expected in the coming months, will present the opportunity to deliver both significant scale to those operations and benefit to the local community.

Kazera, through its wholly-owned subsidiary Whale Head Minerals (WHM), has secured an offtake agreement with Fujax South Africa for HMS from the Perdevlei project.

The company also stated that the conclusion of the arbitration process in respect of the sale of the African Tantalum (Aftan) tantalum and lithium operation in Namibia is anticipated to provide a near-term pathway to the receipt of final sales proceeds in respect of that asset.

Kazera recounted the progress made in its various projects in its unaudited interim results for the six months ended December 31, 2024.

In August 2024, WHM received a National Nuclear Regulator permit, and an inspection was completed, allowing for the start of mining and production of HMS samples for potential offtakers.

In October 2024, the company applied for a mining right for Perdevlei, covering an initial mining area about 34 times larger than its existing Walviskop project, enabling a major escalation of operations.

Environmental authorisation for the Perdevlei concession was granted in November 2024. In December 2024, the company entered into an offtake agreement with a prepayment of $600 000, with commercial production of HMS progressing.

Deep Blue Minerals developed and installed an in-house diamond separation system, including a Pulsating Jig and FlowSort machine. In July last year, mining of diamond sands began at Deep Blue Minerals.

In September, Aftan initiated legal proceedings and arbitration to recover outstanding payments of $9.5-million from Hebei Xinjian in respect of its Aftan sale agreement. A final decision from the arbitrator is expected shortly, Kazera said.

Kazera also reported significant corporate developments. In July last year, Catalyse Capital and its related parties became the largest shareholder. In August, Dr John Wardle joined the board of Kazera as nonexecutive chairperson to support the transition from a developer to a producer.

That same month, Kazera acquired Tectonic Gold's 10% shareholdings in both Deep Blue Minerals and WHM, increasing its beneficial interests in the two companies to 70% and 74%, respectively.

In August and September last year, CEO Dennis Edmonds acquired a total of 16-million shares in the company. As of December 31, 2024, Kazera reported cash holdings of £113 000, compared with £684 000 in the previous year.

"The past six months have been a period of significant progress for Kazera, with key milestones achieved across our portfolio. From securing permits and advancing commercial production at WHM, to strengthening our stakes in Deep Blue Minerals and WHM, we are well positioned for long-term growth.”

“With commercial operations now under way, a much larger area of operations in the pipeline, a strong leadership team and supportive major shareholders, we are on the cusp of a transformational phase.

“The opportunities ahead are more exciting than ever, and we remain focused on delivering value for our shareholders as we focus on increasing margins and expanding production," Edmonds said.