Ownership Structure

International private equity with 10% Namibian community and workforce participation — structural, not cosmetic.

Shareholding

Who Holds Tsoaxaub Metals

90%

CL US Minerals LLC (Castlelake Group)

Acquired the 90% controlling interest from NRR PLC in June 2021, providing institutional capital and strategic direction for the restart programme.

Community Empowerment Trust

For Namibian communities — focus on youth, women, and the most vulnerable. Funded at 0.5% of development costs and 0.5% of annual turnover.

Employee Benefit Trust (PDN)

For qualifying Previously Disadvantaged Namibian workforce members who share directly in the company's long-term commercial success.

Tsoaxaub workforce — North Portal

Capital Structure

10% of the company is held for Namibian communities and PDN workers — built into the structure at inception.

CL US Minerals LLC90%

Community Empowerment Trust5%

Employee Benefit Trust (PDN)5%

For capital structure, restart financing, or strategic partnerships.