Strategic and Operational Update

Kazera Global PLC

27 April 2026

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

27 April 2026

Kazera Global plc

("Kazera" or the "Company")

Strategic and Operational Update

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to provide a strategic and operational update highlighting recent progress across its South African heavy mineral sands ("HMS") operations and broader project portfolio.

HIGHLIGHTS

·    2A Mining Right progressing through final stages, with enhanced local engagement to support the regulatory process

·    Strategic partner discussions progressing to support the transition to scaled, sustainable commercial HMS production at globally acceptable industry grades

·    Independent bulk sample test work confirms upgradeability of HMS product to c.41% TiO₂, with clear potential for further optimisation

·    Operational reset implemented, sharpening focus on core HMS activities and cost discipline

·    Immediate actions taken to reduce the cost base and improve operational efficiency, including Director salary deferrals

·    Clear pathway established towards sustainable, cash-generative operations

·    Further engagement with Hebei Xinjian with a view to exploring a workable settlement of the outstanding African Tantalum debt liability due to Kazera. Other third party preliminary expressions of interest.

2A Mining Right - Final Stage Progress

The Company continues to engage with the relevant regulatory authorities within South Africa in relation to the award of the 2A Mining Right at Alexander Bay, a key milestone in unlocking the next phase of scale within the HMS operations.

To support this process, the Company has entered into an arrangement with a locally based stakeholder to support the final stages of the regulatory process. The Board believes this will provide additional in-country support to help facilitate accelerated progress through the final stages of the application.

While the timing of the award continues to remain subject to regulatory processes and is outside the Company's direct control, the Board is focused on supporting the process where appropriate and positioning the asset for expedited development immediately upon grant and benefitting the local Richtersveld community.

Whale Head Minerals (HMS) - Positioning for Scaled Production

Kazera has continued to advance discussions with a preferred potential strategic partner in relation to its HMS operations at Whale Head Minerals. These discussions are centred on establishing a framework to:

·    optimise processing operations

·    increase throughput volumes

·    deliver higher-grade, marketable concentrate

Recent test work has been undertaken on a bulk sample of mineral sands by an independent processor to assess the potential for upgrading the Company's heavy mineral sands product. Initial processing of sample material has demonstrated that the in-situ product is capable of being upgraded through conventional processing routes, with test work achieving concentrate grades of approximately 41% TiO₂, with the potential for further optimisation.

The Board believes these results demonstrate the upgradeability of the material and provide increased confidence in achieving higher-grade, marketable concentrate. The work also highlights the importance of optimising processing at site to minimise double handling and associated costs, with ongoing discussions with strategic partners focused on delivering this capability.

The objective is to introduce additional capital without recourse to Kazera shareholders, together with on-the-ground technical capability to accelerate the transition towards a scalable, commercially robust operation.

Alongside this, the Company is developing a clearer and more detailed understanding of the cost base, including production costs per tonne and future equipment requirements, providing a stronger foundation for operational planning and growth.

The Company is in discussions with Fujax International with a view to aligning both parties interests on a more secure and commercial footing and will update the market in this regard in the near term.

Deep Blue Minerals (Diamonds) Operational Reset - Focus on Value and Efficiency

Following a comprehensive operational review, the Company has implemented a more focused and disciplined approach to the Project's activities. In particular:

·    Inland diamond mining activities have been put on hold due to diesel fuel shortages and extremely high prices.

·    Diamond mining operations now focused on recovering diamonds from beach and marine gravels derived from the HMS mining process.

·    The Company believes that this strategy will yield significant cost savings.

·    A review of equipment and site infrastructure is underway, including the identification of non-core assets for potential disposal

These actions are expected to materially reduce the cost base while aligning operations more closely with the Company's core HMS strategy.

African Tantalum (Lithium/Tantalum) - Strong Position with Accelerated Value Pathways

The Company continues to maintain a strong legal position in respect of its African Tantalum Project, with the arbitration award currently subject to review in the Namibian Supreme Court. The Company remains confident in its position and continues to monitor the process pending judgement.

In parallel, the Company is actively progressing discussions with the existing counterparty, Hebei Xinjian, in relation to exploring a potential commercial outcome for the project that may provide a near-term pathway to either cash generation and recovering the majority of the outstanding debt or an accelerated pathway to monetising the asset.

Separately, the Company has received preliminary expressions of interest in Aftan from third parties and is also actively progressing these avenues.

Outlook and Near-Term Priorities

The Board is focused on delivering a number of clearly defined near-term priorities as it progresses the Company towards a more stable and scalable operating platform:

·    Supporting the regulatory process in relation to the 2A Mining Right and positioning the asset for development upon grant

·    Advancing strategic partner discussions to support the transition to scaled, commercial HMS production

·    Increasing HMS production volumes and improving concentrate quality to achieve consistent, marketable product

·    Continuing to optimise the diamond operations, focused on the recovery of diamonds from beach and marine gravels in support of the HMS mining process

·    Continuing to reduce the operational cost base and embed financial discipline across the South African operations

·    Progressing discussions across the Company's broader project portfolio, including African Tantalum, with a focus on near-term value realisation

The Board believes that successful execution across these areas, alongside continued operational and commercial progress, will support the transition to a sustainable and cash-generative business.

Working Capital

As part of this transition, the Company has identified a requirement for additional short-term working capital to support operations over the coming months as production is optimised and revenues increase.

The Company is actively addressing this requirement and is in discussions with its existing lenders and other stakeholders to ensure appropriate funding is in place to support near-term activities.

In addition, the Board has agreed that, in order to support the Company as it progresses towards a more stable and cash-generative footing, all Directors are deferring the receipt of their fees until 31 August 2026. Such fees will continue to accrue during this period.

This includes Richard Jennings, who has agreed a salary of £5,000 per annum in his capacity as a Director and Interim Chief Executive Officer of the Company; it has further been agreed that, upon stepping down as Interim Chief Executive Officer, the Company will make a donation of £20,000 to charitable causes of Mr Jennings' choosing.

Summary

The Board believes that, after many years of frustration, the Company has now finally entered a pivotal phase, with a clearer strategic focus, improving operational visibility, complete alignment across all parties and tangible progress across its core assets over recent weeks.

With multiple workstreams advancing in parallel, the Company is increasingly well positioned to deliver on its objective of building a sustainable, cash-generative business.

Richard Jennings, Interim CEO commented: "In the very short period since my appointment, I have been in country in South Africa meeting with the key counterparts in each of our projects. As illustrated through my nominal salary award, my focus is singular - addressing the operational challenges at asset level and improving alignment between operational performance, the Company's perception of its underlying asset values and the current market perception.

"Over the past three weeks, with the appointment of new Board members with complementary experience together with renewed engagement with parties in both South Africa and Namibia, I am optimistic that a line has been drawn under the past and the Company is now moving forward with a much clearer focus. I look forward to updating shareholders in the weeks ahead with hoped for tangible progress on all fronts."

ENDS

For further information, visit www.kazeraglobal.com or contact:

Kazera Global plc Geoff Eyre, Non-Executive Chairman	[e-mail]
Strand Hanson Limited (Nominated, Financial Adviser and Broker) Christopher Raggett / Ritchie Balmer	Tel: [phone]
Zeus Capital Limited (Joint Broker) Harry Ansell / Simon Johnson / Katy Mitchell	Tel: [phone]
St Brides Partners Limited (Financial PR) Isabel de Salis / Charlotte Page	[e-mail]

Notes

Kazera Global plc (LON:KZG) is a diversified commodity investment company focused on unlocking value through production growth and disciplined portfolio management. While production builds at its Whale Head Minerals (Heavy Mineral Sands) and Deep Blue Minerals (diamond) assets in South Africa's Northern Cape province, the Company also continues to assess new opportunities to expand its growth pipeline and deliver sustainable returns.

 

END