Kazera Global has won a US$11.9 million ruling against HeBei Construction for breaching a sales agreement involving the African Tantalum Pvt Ltd.
African Tantalum (Aftan) (Pty) Ltd, previously known as Tantalite Mine, owns the Tantalite Valley project, 60 km from Warmbad and 110 km from Karasburg in the Karas Region.
HeBei Construction signed the agreement to acquire African Tantalum on December 20, 2022.
The acquisition included transferring related shareholder loans for a total consideration of approximately US$13 million.
Hebei made only partial payments totalling US$4.1 million and, having failed to meet the balance of its obligations despite formal written demand, was in breach of the agreement.
Kazera Global took up the case for arbitration in September 2024, which was finalised in early May 2025.
The arbitrator ordered Hebei to pay Kazera US$9.2 million and interest for US$1.6 million accrued up to October 8, 2024.
HeBei was also ordered to pay US$1.1 million interest at 20% per annum on US$9.2 million from October 9, 2024, up to May 6, 2025.
As of , 2025, the total amount accrued was US$11.9 million plus costs.
Kazera retains 100% of the issued shares in Aftan as security until the consideration is paid in full.
Kazera Global CEO Dennis Edmonds says they have always believed in the strength and fairness of their case, and the ruling confirmed that.
Edmonds says while the arbitration process hasn’t held us back operationally, it has been an unhelpful distraction.
“We can now move forward with greater clarity and remain focused on unlocking value across the rest of the portfolio. We will now take the necessary steps to recover the full amount we are owed,” Edmonds says.
Kazera Global is now assessing the most effective legal and commercially beneficial avenues to enforce the award and recover the due amount.
Kazera Global first invested in African Tantalum Limited in 2014 when a 75% interest was acquired for £0.66 million.
The remaining 25% was acquired in 2020 for a further £0.22 million. Aftan initially held a 60% interest in the Tantalite Valley Mine in Southeastern Namibia. This was increased to 100% in 2015.
Tantalite Valley Mine
Tantalite Valley is a 50 km square mountainous area located about 30 km south of Warmbad on Umeis Farm 110 and Kinderzitt Farm 132.
Over 50 exploited pegmatites were mined by small-scale farmers until the mid-1970s when Steen Severin, a Danish-Namibian, took overusing a shelf company called Tameka Shelf Company 4.
The shelf company owned the two farms – Kinderzitt 132 and Umeis 110 – under Tantalite Valley Estates, while Warmbad Investment Holdings, for the locals, provided labour. The Tantalite Valley Estates (49%) and the Warmbad Investment Holdings (51%) operated the Tantalite Valley project under the Namibian Tantalite Investments.
The Tantalite Valley mine received its licence 77 in February 2001. The licence is valid for the life of the mine or an initial period of 25 years, renewable up to 15 years at a time.
An Australian company, Magnum Mining and Exploration, acquired a 100% interest in Namibian Tantalite Investments in May 2006. It paid Severin N$8m (A$1,7m) for shares in Tameka and gave 15 million shares valued at ($7.1m (AU$ 1.5 m) to Namibian Tantalite Investments shareholders.
