Kazera Global plc said an independent evaluation estimates the in-situ value of heavy mineral sands within a 42.86-hectare section of its Sea Concession 2A project in Alexander Bay, South Africa, at $369.3 million.
The assessment, prepared by Creo Geo Consulting and based on second-quarter 2026 FOB prices, breaks down the value into ilmenite at $174.3 million, garnet at $130.0 million, zircon at $39.4 million and rutile at $25.6 million. The evaluated area represents 1.42% of the total 2A mining right, which spans approximately 3,012.95 hectares along a 30-kilometer coastal stretch between Port Nolloth and Alexander Bay.
The inferred mineral resource within the assessed section totals 6.65 million tonnes at a grade of 20.04% total heavy minerals, containing roughly 1.33 million tonnes of contained heavy minerals, of which about 1.31 million tonnes are deemed economic. Sampling in April and May 2026 involved 30 pits with depths ranging from 4.5 meters to 8.9 meters.
Kazera noted the estimate reflects a gross in-situ value and does not account for recovery rates, revenue, profit, net present value or ore reserves. The remaining 98.58% of the 2A license area is a conceptual geological target estimated to hold an additional 265.2 million tonnes of heavy mineral sands, though grades have not been determined and exploration remains insufficient.
