DAMREV, the natural world asset (RWA) tokenisation company, has secured a US$330 million (N$6,2 billion) deal to tokenize a copper mine in Namibia.
This project will be implemented over a 24-month, marking a milestone in both the mining and blockchain industries.
The company said the initiative underscored Damrev’s commitment to leveraging blockchain technology to revolutionise traditional industries.
By tokenizing the yet-to-be-confirmed copper mine, Damrev enables fractional ownership, increased liquidity, and enhanced transparency, setting a new standard for asset management and investment in the mining sector.
“We are thrilled to begin this transformative journey with our partners in Namibia,” said Damrev CEO Duane Herholdt.
“This project not only highlights the immense potential of tokenization in unlocking value from real-world assets but also reinforces Damrev’s position as a pioneer in the African blockchain space,” Herholdt said.
The tokenisation process will involve converting the copper mine’s assets into digital tokens on a secure blockchain platform.
These tokens will represent the mine’s value, allowing investors to seamlessly buy, sell, and trade them.
This approach is expected to attract diverse investors, from institutional to retail.
The mine will benefit from increased operational efficiency and funding opportunities through this partnership.
Herholdt said this initiative is poised to set a precedent for future tokenisation projects across Africa.
“We are dedicated to delivering value not only to our investors but also to the people of Namibia, fostering sustainable development and economic growth,” Herholdt said.
Damrev discloses that it is positioning itself as Africa’s largest digital asset marketplace.
– CAJ News
