Kazera Global plc said its Sea Concession 2A project in Alexander Bay, South Africa, holds an indicative in-situ mineral resource value of $369.3 million based on a technical report prepared by Creo Geo Consulting.
The evaluation covered 42.86 hectares—1.42% of the 2A license area—where an inferred mineral resource of 6.65 million tonnes grading 20.04% total heavy minerals was identified. The contained total heavy minerals total approximately 1.33 million tonnes, of which about 1.31 million tonnes are deemed economic.
The in-situ value was calculated using Q2 2026 FOB prices, with ilmenite contributing $174.3 million, garnet $130.0 million, zircon $39.4 million, and rutile $25.6 million. The remaining 98.58% of the 2A concession—covering roughly 3,012.95 hectares and stretching 30 kilometers along the coast between Port Nolloth and Alexander Bay—has been identified as a geological target.
A conservative estimate suggests an additional 265.2 million tonnes of heavy mineral sands can be inferred across the broader concession, though grades remain undetermined and the estimate is conceptual due to limited exploration data. The company’s April–May 2026 sampling program collected 30 samples at pit depths ranging from 4.5 meters to 8.9 meters.
Kazera noted the recent granting of the 2A Mining Right as a key regulatory milestone. The reported in-situ value is a gross estimate and does not reflect recoverable value, revenue, profit, net present value, or an ore reserve.
