The tokenization process will involve converting the copper mine's assets into digital tokens on a secure blockchain platform.

DAMREV, a real-world asset tokenization company, has signed a massive $330 million deal to tokenize a copper mine in Namibia.

This project, announced yesterday, will be implemented over a 24-month period and represents a huge milestone in both the mining and blockchain industries, said the company.

DAMREV focuses on ISO 20022 blockchain tokenization and smart contract development, as well as security token offerings, to bridge the gap between traditional industries and technology.

According to the business, the partnership demonstrates DAMREV's commitment to using blockchain technology to transform traditional industries.

DAMREV stated that by tokenizing the copper mine, it will enable "fractional ownership, increased liquidity, and enhanced transparency, setting a new standard for asset management and investment in the mining sector".

Duane Herholdt, CEO of DAMREV, commented: "This project not only highlights the immense potential of tokenization in unlocking value from real-world assets but also reinforces DAMREV's position as a pioneer in the African blockchain space."

According to the DAMREV, the tokenization process will entail transforming the copper mine's assets into digital tokens on a secure blockchain network.

It further stated that these tokens will represent the mine's value, allowing investors to purchase, sell, and exchange them smoothly.

This “innovative approach” is expected to attract a diverse range of investors, from institutional to retail, democratizing access to valuable resources, according to the business.

DAMREV said the project's implementation over the next two years will involve substantial collaboration with local stakeholders, ensuring that the benefits of tokenization are felt throughout the community and economy.

"This initiative is poised to set a precedent for future tokenization projects across Africa," added Herholdt. "We are dedicated to delivering value not only to our investors but also to the people of Namibia, fostering sustainable development and economic growth."