Kazera Global to acquire additional interests in South African assets

(Sharecast News) - Kazera Global said on Tuesday that it had agreed to acquire additional interests in its South African heavy mineral sands and diamond assets from PDNA Property Investments for ZAR 973,374, or about $60,000, in cash. The AIM-traded firm said the transaction will increase Kazera's legal interest in Whale Head Minerals to 91%, with 79% held for its benefit, and lift its beneficial interest in Deep Blue Minerals to 80% from 74%.

It said the deal would simplify the ownership structure of its South African investments, while preserving arrangements for employees, local communities and Black Economic Empowerment partners.

Interim chief executive Richard Jennings said the transaction was "strategically very important for Kazera" and would support "discipline, alignment and commercial momentum" across the assets.

At 0939 BST, shares in Kazera Global were up 1.66% at 1.22p.

Reporting by Josh White for Sharecast.com.

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