Trigon Metals (TSX-V:TM) has completed the sale of its interest in the Kombat Mine in Namibia, with privately held companies Kamino Minerals and Horizon Corporation.
Under the deal, Trigon will receive a total of US$24 million via a combination of cash and shares.
The purchaser will also make an additional cash payment to Trigon 30 days following the first date upon which underground operations achieve ore production and processing of ore containing 4,500 tonnes of contained copper over a 90-day period. The payment will amount to between US$3.5 million and US$13 million, dependent on the copper price.
Copper futures rose to US$5.5 per pound in late December – the highest since the threat of tariffs on copper inputs by US President Trump lifted futures to a record high of US$5.8 per pound in July 2025, as reported by Trading Economics.
At the time of writing, copper futures sat at US$5.48 per pound.
As part of the transaction, Trigon is granted a 1% net smelter return royalty. Payments under the royalty will begin once the project achieves copper metal production of 1,000 tonnes.
Trigon says the closing of the transaction represents a comprehensive process including signing a definitive agreement, receiving all necessary approvals, and satisfying customary closing conditions.
CEO Jed Richardson says this marks an “exciting” new phase for Trigon as the company is fully funded to focus on its Addana Project in Morocco.
“We remain proud of what we accomplished together at Kombat and look forward to watching its continued success,” Richardson says.
The Addana Project, covering 112km2, is a silver and lead, polymetallic deposit located in a district that has seen lead and silver mining for hundreds of years.
Trigon Metals is focused on exploring copper and silver in Africa’s best jurisdictions.
Write to Aaliyah Rogan at Mining.com.au
Images: Trigon Metals
