Kazera Global plc on Sunday reported an indicative in-situ mineral resource value of $369.3 million for heavy mineral sands at its Sea Concession 2A project in South Africa’s Alexander Bay region.
The estimate, prepared by Creo Geo Consulting, covers a 42.86-hectare area representing 1.42% of the total license area. The valuation is based on second-quarter 2026 free-on-board prices and does not reflect recoverable value, revenue, or reserves, the company said.
Within the evaluated area, the inferred mineral resource totals 6.65 million tonnes of heavy mineral sands with a total heavy minerals grade of 20.04%. This includes approximately 1.33 million tonnes of contained heavy minerals, of which about 1.31 million tonnes are classified as economic. The breakdown by mineral type at Q2 2026 prices shows ilmenite at $174.3 million, garnet at $130.0 million, zircon at $39.4 million, and rutile at $25.6 million.
The project spans roughly 3,012.95 hectares along a 30-kilometer stretch of coast between Port Nolloth and Alexander Bay. Sampling conducted in April and May 2026, involving 30 pits with depths ranging from 4.5 meters to 8.9 meters, informed the assessment.
Kazera noted that the remaining 98.58% of Concession 2A represents a geological target with a conservative estimate of an additional 265.2 million tonnes of heavy mineral sands, though grades and economic viability have not been established. The company’s primary regulatory milestone remains securing Mining Right 2A.
