Trigon Metals completes sale of Kombat Mine to Horizon’s Kamino Minerals

Trigon Metals Inc. has officially sold its entire interest in the Kombat Mine in Namibia to Horizon Corporation Limited’s affiliate, Kamino Minerals Limited, in a US$24 million all-cash transaction. At a shareholders’ meeting held on 4 July, over 99 percent of the votes cast approved the deal, alongside the election of Trigon’s board and approval of auditors and its stock option plan.

The Deal

Deal Highlights

Payment structure: US$24 million paid in eight equal quarterly installments, beginning nine months after shareholder approval and regulatory clearance.

Additional upside: Trigon is eligible for up to US$13 million in production-based bonuses and retains a 1 percent copper net-smelter-returns royalty if copper prices exceed US$4.00/lb.

Strategic reprioritisation: The sale allows Trigon to sharpen its focus on its Kalahari Copper and Morocco projects, while Horizon leads Kombat’s next development phase.

Located in the Otavi Mountainlands, Kombat is the country’s only operative copper mine. Trigon restarted open-pit operations in May 2023 and began underground mining in 2024, achieving a throughput of approximately 1,000 tonnes per day. It holds an indicated resource of 13.56 million tonnes averaging 1.92 percent Cu, 0.73 percent Pb, and 14 g/t Ag.

Trigon CEO Jed Richardson told Business Wire that the sale “provides strong and flexible capital” for growth while maintaining exposure to Kombat’s long-term upside via production royalties. Horizon’s Bradley Rawson said the company is “excited to build on Kombat’s legacy” and advance development, including potential mill expansion and strike-length exploration near Asis West and Asis Far West.

Next Steps

The deal awaits final regulatory approval in Namibia and clearance from the TSX‑Venture Exchange. First installment expected after both approvals and a nine-month waiting period. Trigon will watch for tolling and milling performance to determine bonus payments. Horizon plans to ramp up production and explore down-dip extensions and Far West ore bodies.

The post Trigon Metals completes sale of Kombat Mine to Horizon’s Kamino Minerals first appeared on Future Media News.

The post Trigon Metals completes sale of Kombat Mine to Horizon’s Kamino Minerals appeared first on Future Media News.