By Ayomide Otitoju
The Namibian Competition Commission has approved Horizon Corporation’s acquisition of an 80% stake in the Kombat Mine from Canadian firm Trigon Metals, marking a key step toward reviving operations at the historic copper site. The transaction, still subject to final authorization by the TSX Venture Exchange, has been welcomed as a model for investments that blend financial returns with local development benefits.
Namibian investor Knowledge Katti, through Havanna Investments, will retain a 10% shareholding, while state-owned Epangelo Mining holds the remaining 10%. Katti said the decision to remain a co-investor was driven by a commitment to job creation and community development in the Otjozondjupa Region.
The African Energy Chamber (AEC) has endorsed the deal, describing Horizon’s nearly N$1 billion investment plan as a boost for Namibia’s mining sector. “Restarting idle mines generates employment, strengthens local supply chains and enables Namibian companies to play a larger role in industrial development,” said NJ Ayuk, AEC Executive Chairman.
The Kombat Mine, once a major copper producer, has been inactive following equipment failures earlier this year that affected dewatering operations. Horizon plans to restart production in 2026, a move expected to create hundreds of jobs and open new opportunities for local contractors.
Local content and community empowerment remain central to the project. Horizon has pledged investments in youth employment and social development, with Katti emphasizing that value generated from the mine will “contribute significantly to the social development of the Kombat community.”
The AEC urged other mining and energy companies to adopt similar long-term strategies that prioritize local participation, skills development, and social impact alongside foreign investment.
