HARARE, July 15 (Reuters) - Namib Minerals ( NAMM )

plans to spend $300 million to restart operations at two of its

mothballed gold mines in Zimbabwe and lift production, its chief

executive Ibrahima Tall told Reuters on Tuesday.

Namib Minerals ( NAMM ) owns three gold mines in Zimbabwe, including

the How mine, which is currently in operation.

Tall said the funds would restart the group's Mazowe and

Redwing mines, where production was halted in 2018 and 2019

respectively due to adverse economic conditions.

Namib Minerals ( NAMM ), which debuted on the Nasdaq in June, was

created through the merger of assets previously owned by

Metallon Corporation and U.S. firm Red Rock Acquisition

Corporation, formerly known as Hennessy Capital Investment Corp.

VI.

Production at the two suspended mines could resume

within 18 to 24 months of Namib Minerals ( NAMM ) securing financing for

their relaunch, said Tall, who added that the company was

exploring various options of raising the required capital.

"Interest from investors on Nasdaq has been very good," he

said in an interview in Zimbabwe's capital, Harare.

Mazowe, located north of Harare, holds 1.2 million ounces of

gold at an average grade of 8.4 grams per metric ton while

Redwing, near the border with Mozambique, contains 2.5 million

ounces at a grade of 3.07 grams per ton.

Namib Minerals' ( NAMM ) How Mine near Bulawayo produced 37,000

ounces of gold in 2024, a 9% increase on the previous year's

output.

Zimbabwe's gold mines, which have for years struggled as a

result of currency and policy volatility, are starting to expand

output in response to record-high gold prices and relatively

stable political and economic conditions.

Caledonia Mining Corp, which owns the Blanket Mine,

is exploring options to raise around $250 million to build what

could be Zimbabwe's biggest gold mine.