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Investment Portfolio

Petmin Limited
NAMF’s investment in Petmin, which is listed on the Johannesburg Securities Exchange and the London Stock Exchange AIM market, was the result of a series of transactions which the Team put in place over a number of years, resulting in NAMF holding ultimately about 25% of the equity in Petmin. The transactions included: SamQuarz, a silica producing mine; Springlake colliery; the Somkhele Anthracite project and 50% of the Baobab JV (coal assets).

This investment has been substantially realised.

Jubilee Platinum
Jubilee is a mining exploration and development company with a focus on platinum group metal (PGM) and nickel/copper. Jubilee has developed a prospective portfolio of platinum projects, strategically placed within South Africa’s Bushveld Igneous Complex, a geological system unmatched worldwide which produces 80% of the World’s platinum.

This investment has been realised.

Veremo Holdings Limited
The Veremo project is a large open-castable deposit in excess of a billion tons of titaniferous magnetite ore that occurs in weathered and un-weathered zones of the Magnetite Layer 21 in the Bushveld Igneous Complex.

This investment has been realised.

Lupa Goldfields Joint Venture
Lupa is an early stage gold exploration project in the Lupa Gold District of Tanzania.

This investment has been realised in exchange for an interest in Great Basin Gold Limited which is listed on the Toronto Stock Exchange and the Johannesburg Securities Exchange.

CAMSA Joint Venture
The CAMSA Joint Venture is a consortium of South African and Cameroonian entrepreneurs who had acquired a prospecting license in the North East of the Republic of Cameroon, in a known gold bearing area. The consortium had also acquired the exclusive rights to other areas of gold and diamond potential, which could be taken up at their discretion.

Africo Resources Limited
Africo Resources, which has a 75% interest in the Kalukundi project, is listed on the Toronto Stock Exchange. The Kalukundi copper-cobalt deposit lies some 65kms east of Kolwezi in the DRC. A feasibility study has been completed on the project.

Limpopo Coal
The Limpopo Coal project is on the Farm Overvlakte, on the border with Zimbabwe in the Limpopo Province of South Africa.

This investment has been realised.

South African Coal Mining Holdings Limited (“SACMH”)
SACMH, which is listed on the Johannesburg Securities Exchange, owns two collieries: Ilanga and Umlabu. Ilanga is currently on a care and maintenance basis pending negotiations to acquire additional reserves.


Kiwara Plc
Kiwara has an interest in a nickel-copper-cobalt exploration project in Zambia and is listed on the London Stock Exchange AIM market and the Johannesburg Securities Exchange. This project continues to produce promising results and accordingly, NAMF has increased its interest in Kiwara.


Namakwa Diamonds
Namakwa Diamonds is a coastal alluvial diamond mining development project. Diamond recovery grades for this project were below economic extraction grades and accordingly the work on this project ceased with the investment being written off.