Unicorn Mineral Resources Acquires Stake in QGC Namibia
Unicorn Mineral Resources has signed an agreement to acquire a 75% stake in Q Global Copper Namibia (QGC Namibia), which holds two exclusive prospecting licenses covering the Klein Aub Copper Mine. The acquisition includes access to historical tailings and slimes with significant copper and silver content, potentially enabling near-term production without major new investments. Existing infrastructure at the site supports reduced processing times compared to greenfield projects. The deal is valued at $368,637 (R6m), including cash, shares, and deferred loan notes. Funding will come from a previously announced unsecured loan facility provided by Electro Automation (Group). Unicorn's chairman emphasized that the acquisition marks a strategic shift toward production-focused assets with strong resource potential in southern Africa. The Kalahari Copperbelt has attracted major mining firms like MMG, Sandfire Resources, and Rio Tinto. This move positions Unicorn to leverage existing infrastructure and historical data for rapid growth.
Topics: acquisition copper production mining