Kavango Resources

What Kavango Resources does

Kavango Resources plc is a Southern Africa-focused mineral exploration and gold production company operating a dual-track strategy from its London headquarters. In Zimbabwe, the company is developing near-term gold production through 100%-owned projects — Hillside (with sub-prospects Nightshift, Steenbok, Bill's Luck and Britain), Nara and Leopard — using modern mechanised methods including spiral decline underground mining, with current production averaging approximately 2kg of gold per month from Hillside and a 50-tonne-per-day modular gravity plant under construction. In Botswana, the company holds a district-scale exploration portfolio covering the Kalahari Copper Belt (6,200+ km², the largest held by a junior in the region), the Kalahari Suture Zone (7,692 km²) and the Ditau Project (2,653 km²), targeting copper, nickel-copper-PGE, IOCG and rare earth mineralisation using advanced geophysical tools including Airborne Electromagnetics (AEM), Controlled-Source Audio-Frequency Magnetotellurics (CSAMT, capable of imaging beyond 4,000m depth), Induced Polarisation (IP) and diamond/RC drilling.

The company is incorporated in England and dual-listed on the London Stock Exchange Main Market (LSE:KAV) and the Zimbabwe Victoria Falls Stock Exchange (VFEX:KAV.VX). Kavango generates revenue from direct sales of gold to refiners/buyers at prevailing spot prices, supplemented by near-term tailings recovery opportunities at the Nara Project (a defined Measured and Indicated resource of approximately 5,983 contained ounces). Long-term optionality is provided by the potential for joint venture or farm-out arrangements on its Botswana copper licences. Governance structures follow Zimbabwe's National Code of Corporate Governance, and a controlling 55.83% stake is held by Purebond Limited, with the share register comprising 4,525,261,341 shares as of 10 June 2026. The company operates a wholly-owned Zimbabwe subsidiary (Kavango Mining Private Limited) for its gold operations and a holdings entity (Kavango Zimbabwe Holdings Private Limited).

The technical core of the business is the integration of modern geophysical survey methods — particularly CSAMT to penetrate thick Kalahari sand cover and AEM for rapid high-resolution mapping — with first-principles geological thinking applied to terrains that have seen little systematic modern exploration for over 25 years. The dual-track business model is designed to self-fund near-term Zimbabwe gold production while preserving long-horizon discovery optionality in Botswana's emerging copper belt, where the company is positioned along strike from MMG's Khoemacau and Sandfire's Motheo mines.

Name

Kavango Resources

Legal name

Kavango Resources plc

Website

https://www.kavangoresources.com/

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

101–250 employees

Short description

Kavango Resources plc is a London-listed junior miner developing near-term gold production in Zimbabwe while exploring for large-scale copper and base metal systems in Botswana, using advanced geophysical technologies and modern mechanised mining methods.

Ownership category

akta.pro rank

Product category

Gold Mining and Mineral Exploration

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (21229)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Copper Exploration & Resource Development (IMAKADAA)

Keywords

• Gold mining production
• Copper exploration
• Mineral exploration services
• Geophysical surveying
• Base metals exploration

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Gold Production and Sales: Kavango generates near-term revenue from small-scale gold mining operations in Zimbabwe. Currently producing approximately 2kg of gold per month from Hillside Project targets. Gold is processed through their modular processing plants and sold to gold buyers/refiners.
2. Tailings Recovery: Near-term recoverable ounces from existing surface tailings material. Nara Project hosts tailings dumps with Measured Resource of 77,664 tonnes @ 0.54g/t Au (1,346oz) and Indicated Resource of 221,934 tonnes @ 0.65g/t Au (4,637oz).
3. Exploration & Farm-Out Opportunities: Long-term revenue potential from copper exploration in Botswana's Kalahari Copper Belt. The company may pursue joint ventures or farm-out arrangements for its district-scale KCB licence package (6,200km2), the largest held by a junior in the region.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Kavango Resources is a Southern Africa-focused mineral exploration and gold production company. In Zimbabwe, it operates near-term small-scale gold mining projects (Hillside, Nara, Leopard) using modern mechanised methods, currently producing approximately 2kg of gold per month. In Botswana, it explores for district-scale copper and base metals deposits across the Kalahari Copper Belt, Kalahari Suture Zone, and Ditau project areas using advanced geophysical technologies such as AEM, CSAMT, IP surveying, and diamond/RC drilling.

Product overview

Kavango Resources is a Southern Africa focused metals exploration and gold production company operating dual-track projects in Zimbabwe and Botswana. In Zimbabwe, the company is developing near-term gold production through its Hillside Project (with sub-prospects Nightshift, Steenbok, Bill's Luck, and Britain), Nara Project, and Leopard Project using modern mechanised mining methods including spiral decline and shaft mining. In Botswana, the company explores for large-scale copper and base metals through the Kalahari Copper Belt Project (KCB), Kalahari Suture Zone Project (KSZ), and Ditau Project using advanced geophysical exploration technologies including Airborne Electromagnetics (AEM), CSAMT, Diamond/RC Drilling, and Induced Polarisation (IP) Surveying. The portfolio combines fast-track development with long-horizon discovery across gold, copper, nickel, PGE, and rare earth elements.

Differentiator

Problem solved

Functional benefit

Products and services

• Hillside Project
• Nara Project
• Leopard Project

Quantifiable outcome

• 2kg/month gold production from small-scale operations at Hillside
• +3 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Seven partnerships are on record, tiered core.

• Share Registrars LimitedcoreOthersUK Share Registrar located at The Courtyard, 17 West Street, Farnham, Surrey GU9 7DR. Maintains share register for London Stock Exchange listing.
• Corpserve Registrars (Private) LimitedcoreOthersZimbabwe Branch Register Registrar located at 2nd Floor, ZB Center, Cnr 1st and Kwame Nkrumah Avenue, Harare, Zimbabwe. Maintains share register for VFEX listing.
• PKF Littlejohn LLPcoreOthersExternal auditor located at 30 Churchill Place, London E14 5RE. Provides annual audit and financial statement review services.
• Druces LLPcoreOthersEnglish legal counsel providing corporate legal services.
• Dhaka Lightfoot & Stone AttorneyscoreOthersZimbabwe legal counsel located at 3 Falmouth Rd, Harare. Provides local legal services for Zimbabwe operations.
• Laurence Khupe AttorneyscoreOthersBotswana legal counsel located at Plot 2583, Chuma Drive, Extension 9, Gaborone. Provides local legal services for Botswana operations.
• BlytheRay LtdcoreOthersPublic relations firm located at 4-5 Castle Court, EC3V 9DL. Provides communications and media relations services.

Scale indicators9 records

Expansion highlights4 records

Direct peers

• Galileo Resources: Galileo Resources is an AIM-listed junior focused on gold and base-metals projects in southern Africa (including Zimbabwe and Botswana). Comparable in scale, jurisdiction exposure, and stage of project development.
• Arc Minerals: Arc Minerals explores copper-gold assets in the Zambia-DRC Copperbelt with an AIM listing, making it a peer in African junior base-metals exploration. Comparable in scale and the use of modern geophysics to unlock covered terrain, similar to Kavango's Botswana approach.
• Cobre Limited: Cobre is a junior copper explorer specifically focused on the Kalahari Copper Belt in Botswana with neighbouring licence positions. The most direct peer for Kavango's KCB project given shared geology, jurisdiction, and exploration methodology.
• Premier African Minerals: Premier African Minerals is a Zimbabwe-focused diversified miner (lithium, gold, tungsten) with a similar junior profile and dual LSE/VFEX listing structure. Comparable in scale, jurisdiction mix, and the challenge of advancing multiple early-stage projects in Zimbabwe.
• Caledonia Mining Corporation (now Mutapa Mining): Caledonia operates the Blanket gold mine in Zimbabwe's greenstone belts, the most directly comparable mid-tier gold producer in the same jurisdiction. Targets similar Archean geology and sells gold to refiners, providing the closest public-market benchmark for Kavango's Zimbabwe operations.

Emerging players

• Power Metal Resources: Power Metal is a London-listed junior with a portfolio of early-stage critical and precious metals exploration projects, often via minority stakes or JV arrangements. Comparable in scale, structure, and the strategy of building optionality across multiple junior exploration plays.
• Greatland Gold: Greatland Gold is an AIM/Australian-listed gold and copper exploration junior that advanced from discovery to development (Havieron), making it a comparable trajectory for a multi-jurisdiction junior using modern geophysics.

Broad incumbents

• Pan African Resources: Pan African is a mid-tier African gold producer with operations across South Africa and exposure to Zimbabwe's gold sector. Comparable revenue model (gold sales to refiners) and operational footprint in southern African greenstone belts.
• Sandfire Resources: Sandfire operates the Motheo copper mine in the Kalahari Copper Belt, sitting on strike from Kavango's licences. While far larger and a producer, it serves as the regional benchmark for KCB copper geology and infrastructure economics.
• MMG Limited: MMG operates the Khoemacau copper-silver mine in the Kalahari Copper Belt and serves as the largest incumbent in the basin. While far larger and a producer, it represents the target operating model and resource-scale benchmark for Kavango's district-scale KCB optionality.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kavango-resources-plc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kavango Resources