The Namibian Competition Commission has approved Horizon Corporation’s acquisition of an 80% stake in the historic Kombat Mine from Canadian firm Trigon Metals, paving the way for one of Namibia’s most significant mining revivals in recent years. The transaction awaits final clearance from the TSX Venture Exchange.
The deal, valued at nearly N$1 billion, is set to restart operations in 2026 at the copper-rich site in the Otjozondjupa Region. Once fully operational, the mine is expected to create hundreds of jobs, boost local suppliers, and deepen Namibia’s industrial base.
“This is exactly the kind of investment we want to see across Africa,” said NJ Ayuk, Executive Chairman of the African Energy Chamber (AEC). “Restarting idle mines generates employment, strengthens local supply chains, and enables Namibian companies to play a larger role in industrial development. Horizon’s commitment signals confidence in Namibia’s mining sector and sets a model for other investors.”
Local participation remains central to the project. Namibian businessman Knowledge Katti, who retains a 10% stake through Havanna Investments, emphasized the importance of staying invested. “As founding shareholders from Namibia, we chose not to exit the project but to remain co-investors, ensuring we play a role in empowering local job creation and community development,” Katti noted. The state-owned Epangelo Mining also holds 10%.
The Kombat Mine has historically been one of Namibia’s key copper producers but has faced years of inactivity, most recently halting operations due to equipment failures. Horizon’s capital injection aims not only to fix technical challenges but also to embed social development programs, particularly targeting youth employment and skills development.
For the AEC, the project exemplifies how mining investments can balance profitability with local impact. By blending foreign capital with strong domestic ownership and community programs, the initiative is positioned to deliver long-term economic and social benefits.
Beyond direct employment, the mine’s revival is expected to stimulate ancillary industries ranging from construction and transport to equipment supply, reinforcing Namibia’s industrial growth. If successful, the Kombat model could influence broader investment patterns across the country’s mining sector, encouraging more partnerships that align financial returns with national development priorities.
As the global demand for copper rises with the green energy transition, the Kombat Mine’s return could place Namibia in a stronger position to attract strategic investors, while ensuring local communities share in the benefits.
