John Adoyi, PBA Journalism Mentee
Horizon Corporation, a Namibian mining and resource development company specializing in copper and base metals, has received approval from the Namibian Competition Commission to acquire an 80% stake in the country’s Kombat Mine from Canadian firm Trigon Metals.
The deal unlocks nearly N$1 billion (around US$55 million)
in investment to restart the previously dormant copper mine, creating hundreds of jobs and generating new opportunities for local suppliers.
The Kombat Mine, located in Namibia, a southern African country with a growing mining sector that generated more than US$2 billion in 2024, was once an important copper producer but has been inactive due to equipment failures. Horizon plans to resume operations in 2026, signaling renewed confidence in the country’s mining industry and broader investment potential in the region.
“As founding shareholders, we chose to remain co-investors to ensure the project creates meaningful jobs and benefits the Kombat community,” said Knowledge Katti, a Namibian investor who retains a 10% stake through Havanna Investments. State-owned Epangelo Mining holds the remaining 10% of the mine.
The African Energy Chamber (AEC) praised the transaction, highlighting Horizon’s approach as a model for combining foreign investment with local empowerment.
“Restarting idle mines generates employment, strengthens local supply chains, and signals investor confidence in Namibia and Africa’s resource sector,” said NJ Ayuk, AEC Executive Chairman.
Analysts say the Kombat Mine revival could catalyze further investment across Namibia’s resource sector, supporting local contractors and related industries.
A Horizon spokesperson added, “Our N$1 billion investment demonstrates our commitment to restart operations responsibly, generate employment, and strengthen Namibia’s copper supply chain.”
The acquisition still requires final approval from the TSX Venture Exchange before completion, but Horizon’s commitment is already being seen as a positive signal for Namibia’s mining and industrial sectors, positioning the country as an attractive destination for international investors.
