Kazera Global (LON: KZG), the AIM-listed mining investment company, saw its shares surge in early trade on Wednesday after South Africa’s mining regulator formally granted a mining right over its Sea Concession 2A heavy mineral sands project in the Northern Cape.
The stock was last quoted up 30.13% at around 2.05p, having opened at 1.75p and touched an intraday high of 2.2p, against Tuesday’s close of 1.575p. The market remains open and trading volume was heavy.
South Africa’s Department of Mineral Resources and Energy, following review by its Regional Mining Development and Environmental Committee, granted the mining right to Whale Head Minerals, Kazera’s 70%-owned subsidiary, effective from 26 August with an initial 10-year term to 2036. Interim chief executive Richard Jennings called it “the most significant milestone in Kazera’s history”, adding: “The grant of the 2A Mining Right is therefore not the end of a long journey. In many respects, it is the starting gun.”
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Execution of the right triggers a further $1.75m payment to Whale Head Minerals from strategic partner South Africa AT Investments, backed by Chinese industrial group Xiamen Antai Zirconium, which is funding, mining and processing the concession. The two companies are targeting commercial production at 2A in the first quarter of 2027, ramping to at least 10,000 tonnes a month of concentrate by the second quarter, with SAI already shipping construction equipment from China.
The grant re-rates a loss-making, pre-revenue small-cap: Kazera reported a net loss of roughly £4.02m for the year to 30 June 2025, against a market capitalisation of around £17.4m. A licensed asset with a dated production timeline and a funded partner marks a shift from speculative exploration toward a concrete commercial pathway, though the shares remain a highly volatile AIM stock trading on news-flow rather than earnings.
