Under new ownership, New Horizon Copper (Pty.) Ltd. (NHC) (formerly Trigon Metals Namibia (Pty.) Ltd.) has officially commenced with construction activities at the Kombat Mine. Trigon Metals Inc. previously operated the historic Kombat Copper Mine, but in December 2025, the purchase of Trigon’s 80% share by an established private mining company was concluded. The direct ownership of the Kombat properties remains unchanged with the remaining 20% held by Namibian partners, both private and government.

Finalised after more than a year of due diligence, legals and various approvals, this transaction confirms the UK-based Horizon Corporation Ltd. as the majority shareholder following the purchase of Trigon’s entire interest. Under Horizon, who plans an equity investment of over US$24 million (N$390m) at Kombat, US$4.5 million has already been used to fund the mine during the temporary closure phase.

Situated in the Otjozondjupa Region in central-north Namibia, Kombat historically experienced its fair share of dewatering related incidents, which ultimately led to the halting of operations on numerous occasions, most recently in January 2025. All of this is however being addressed through Horizon’s significant investment in substantially improved pumping systems, pump capacity and a more robust water handling strategy.

The transaction, approved and welcomed by the Namibian Competition Commission (NCC), Canadian regulators and by the African Energy Chamber (AEC), is viewed as a strong investment “that combines financial returns with local development benefits”. Under Horizon’s new ownership – who already own and operate mines on two continents – and under a new management structure, and using innovation such as sensor based sorting technology, the ambitious plan is for the NHC managed operation to ultimately expand from a historical throughput of 30,000 tonnes design per month, to 60,000 tonnes of ore processed per month under a combined Phase 1 restart expansion, and to between 90,000 – 120,000 tonnes per month in Phase 2 expansion on adjacent orebodies under licence.

Copper is the Company’s primary resource and a Critical Mineral for global electrification and green energy / transitional energy technologies. But the orebodies also contain saleable amounts of silver and lead. Horizon’s refocused approach also includes undertaking studies to process lead through a separate circuit at the processing plant, creating two distinct concentrate product streams and thereby mitigating the significant penalty charges that previously plagued Trigon Metals Inc because valuable lead was being lost to, and contaminating, the copper concentrate.

Commenting on this pivotal moment in Namibian mining, new NHC CEO, Mr Rennie Morkel, is naturally upbeat and explains how their restart plan involves a new engineering approach that derisks the mine going forward. Mr. Morkel enthusiastically added “with operations expected to begin in the fourth quarter of this year, our phased approach to expanding the Kombat Mine will allow the company to more than double previous mining tonnes in time”. He continues by saying that the future of the operation is firmly rooted in the Otjozondjupa Region, Kombat, and the surrounding communities and towns. “We are committed to uplifting and supporting our stakeholders wherever possible, ensuring a ‘SSAFE’ mine that operates for the benefit of all stakeholders, and in line with the company’s renewed values.”

Rebuilding Together

Ushering in a new chapter for Kombat, and launching the NHC company, a construction commencement ceremony was held at the mine on 6 February 2026. Attended by Namibian Government dignitaries, senior leadership from Horizon and NHC, and local community stakeholders, the event celebrated the strong partnership and unwavering support from Horizon in securing the critical funding that has brought the project to this point.

NHC CEO, Mr Morkel, described the occasion as “a break from the past, as we now rebuild together for the future.”

In addition to developing an operation set to double capacity, the project has already delivered notable achievements, including 31,421 lost-time-injury-free shifts, the implementation of a robust dewatering strategy, and the commencement of key civil works — clear indicators of momentum and confidence as construction moves ahead.

For the Chamber, the launch of NHC marks a pivotal moment for Namibia’s copper sector, returning the country’s copper production to the global stage after a decade defined by modest and often inconsistent output driven by mine closures, unsustainable restarts and shifting market conditions. Beyond its national significance, the project delivers substantial local benefits. The Company is expected to employ up to 500 Namibians in Phase 1 alone, while the domestic supply chain will benefit from an estimated N$230 million in local procurement, representing more than half of the funds allocated for the project’s start-up phase.

The investment by Horizon and establishment of NHC marks a turning point for Namibia’s copper sector, signalling recovery, renewed confidence and a growing emphasis on domestic value addition as the country looks to secure a stronger foothold in the global copper market over the next decade. New Horizons, indeed.

Summary Background to Horizon Corporation

Horizon Corporation is a UK-based, investment-driven mining company focused on building a diversified portfolio of efficient, sustainable resource projects across Africa and beyond. With expertise in developing and operating mining assets, Horizon targets long-term value in metals such as copper, gold and cobalt, and is advancing several strategic projects including recent developments in Namibia’s copper sector.

Contributed By New Horizon Copper