Africa Mining News of Week 2, 2026

Dear Africa Mining Community,

Welcome to Week 2 of 2026 and our weekly roundup of the most important stories shaping Africa’s mining and exploration landscape.

In this edition, we bring together developments from across the continent, from gold refining and small-scale mining initiatives in East Africa, to exploration success in Cameroon, rare earth and lithium projects gaining momentum, major corporate moves, and the ongoing realities of security, safety, and market volatility affecting mining operations. You’ll also find insights into value-addition strategies, critical minerals for the energy transition, and how global capital and geopolitics continue to influence Africa’s resource sector.

As always, our aim is to provide clear, concise, and reliable insights that help you stay informed, see the bigger picture, and remain connected to the evolving story of Africa’s mining industry.

Enjoy this week’s highlights,

Team AFMICO

Africa Mining News of Week 2, 2026

Mwanza gold refinery struggles with low raw gold supply, Stamico says

The State Mining Corporation, Stamico, said the Mwanza Precious Metals Refinery is facing a shortage of raw gold, forcing it to operate below capacity despite being able to refine up to 480 kilograms per day, with current daily output at only 50 to 100 kilograms, due to limited raw material supply. Between January and December 2025, the refinery bought 2.995 tonnes of gold worth US$305.9 million, generating Sh32.4 billion in royalties and levies, but challenges remain, mainly high levies on local and foreign mineral traders, including a 1 percent inspection fee and lack of one stop service centres at borders, ports, and airports. Stamico urged the government to reduce some levies, support miners through advance payments, encourage miners to sell gold to the refinery by offering lower royalty rates, and promote more gold imports. In 2025, the refinery refined 7.429 tonnes of gold for the Bank of Tanzania and others, earning Sh2.976 billion, helping boost national gold reserves. Deputy Minister Dr Chaya said the government is addressing trade disruptions, pushing for international certification that requires at least 10 tonnes annual output, promoting the refinery locally and abroad, and attracting investors, noting the refinery, inaugurated in 2021, is a key result of mining law reforms and an important contributor to the national economy.

Tanzania Promotes Small Scale Mining and Value Addition Opportunities

The Tanzanian Minerals Commission has encouraged citizens to apply for Small Scale Mining Licenses and invest in small factories for cutting, processing, and polishing minerals to add value before selling them, while promoting opportunities in the mining sector during the 12th Zanzibar International Trade Fair held in Fumba, Zanzibar, where many visitors learned about the sector’s role in increasing national income, creating jobs, and supporting economic growth, as the Commission showcased opportunities in mineral exploration, extraction, processing, trade, and related services, highlighted Tanzania’s supportive policies and systems for sustainable mining, and emphasized that mining is open not only to large investors but also to small scale miners, entrepreneurs, youth, and women, with a call to use mineral markets and buying centers to benefit economically from the mineral value chain.

Oriole Resources reports strong early gold hits at Mbe drilling programme

Oriole Resources PLC released first drilling results from the MB01-N target at its Mbe gold project in Cameroon, where the first two holes from a 2,950 metre diamond drilling programme returned significant gold intersections with wide zones of mineralisation and some high grade veins, similar to the nearby MB01-S deposit, with hole MBDD026 returning 21.70m at 3.13g/t Au from 86.80m including higher grade intervals, and hole MBDD025 returning 16.20m at 0.77g/t Au from 37.20m, the company said the programme started in November and is about 46 percent complete with six holes drilled and a seventh underway, it expects to finish in Q1 2026, and noted that MB01-N is located 700m northeast of MB01-S which hosts a JORC Inferred Mineral Resource Estimate of 24.8Mt at 1.09g/t Au for 870,000 ounces of gold.

Suspected Jihadist Attack Hits Morila Gold Mine in Mali

Suspected jihadists attacked the Morila gold mine in southern Mali over the weekend, burning mining equipment and briefly kidnapping seven employees who were released unharmed the next day, with no deaths reported, Mali’s army has secured the site and started patrols, the attack highlights growing security risks to mining operations and foreign investors as Mali faces more attacks on economic assets, Morila is in the Sikasso region with about 2.5 million ounces of gold reserves, it was taken over by the state after Firefinch abandoned operations, and it was previously run by Barrick and AngloGold Ashanti and is linked to a new investment agreement with Flagship Gold.

Alphamin announces board transition as IDC director steps down

Tin producer Alphamin Resources confirmed that Paul Baloyi will resign from its board effective January 31, as announced on January 5, Baloyi has served since April 2017 as an IDC-appointed director and contributed during a period of growth and strengthening of the company’s position in the global tin market, Alphamin thanked him for his service and said the change will not affect operations or strategy, the IDC remains a shareholder and the company will manage board succession in line with regulations, Alphamin is dual listed on the JSE AltX and the TSX Venture Exchange and operates the Mpama North and Mpama South mines at the Bisie Tin Project in the eastern DRC, one of the world’s highest-grade tin assets, supplying tin used in electronics, renewable energy and electric vehicles, while the board remains focused on stable operations, responsible mining and long-term value creation.

Energy Fuels boosts Madagascar project value with rare earth expansion

Energy Fuels reported that an updated feasibility study for its Vara Mada heavy mineral sands project in Madagascar increased the project’s post tax net present value by 80% to $1.8 billion and improved the internal rate of return to 24.9%, mainly by adding monazite as a saleable product, with the project expected to produce large volumes of monazite, ilmenite, zircon, and rutile over an initial 38 year mine life, while supporting Western efforts to secure rare earth supplies outside China, with monazite planned to be shipped to the company’s White Mesa mill in Utah for processing into rare earth oxides used in clean energy, electronics, and defense technologies, initial capital costs estimated at $121 million before final investment decision and more than $900 million after, ongoing negotiations with the Madagascar government required before approval, and despite the strong study results Energy Fuels shares fell 2% to $25.63, valuing the company at about $6 billion.

La Mancha trims Endeavour Mining holding after sharp share price rise

London-based La Mancha Resource Capital reduced its stake in West Africa-focused gold producer Endeavour Mining after the share price nearly tripled in a year, selling 3.5% of the company in a bought deal at C$71.25 per share for about C$605 million while remaining a major shareholder with around 11%, as Endeavour’s stock had risen 191% year on year before falling after the sale, reflecting strong gains across gold stocks driven by geopolitical tensions and central bank buying, with La Mancha saying the move was part of capital management to reduce leverage and rebalance its portfolio rather than a loss of confidence, as it keeps board representation through Naguib Sawiris and continues to support Endeavour’s strategy, whose main assets include the Houndé mine in Burkina Faso and the Ity and Agbaou mines in Côte d’Ivoire, while former Boungou and Wahgnion mines in Burkina Faso were nationalized by the government in 2024, highlighting a wider push by Sahel military governments to increase state control of mining assets as they seek revenue and stability.

Akobo posts strongest quarter, accelerates Segele mine development

Akobo Minerals reported its strongest quarter in the fourth quarter of 2025, producing about 21.5 kg of doré gold supported by strong gold prices, with December production of about 8 kg valued at around USD 1 million, bringing total doré production to about 73 kg, while holding around 600 tonnes of blended material with an estimated in situ value of USD 1.6 million, operations at the Segele mine remained stable with consistent underground production and grade blending, and the company made steady progress on its vertical shaft project, reaching 38 metres of shaft sinking and advancing infrastructure works, after updated technical reviews Akobo decided to proceed directly with the next development phase, extending the shaft to about 120 metres in one continuous stage to improve long term efficiency, flexibility, and access to deeper levels, production from existing winzes will continue during development and later be phased out or repurposed, a production uplift is now expected between August and September 2026, the development will be funded through existing cash and operational cash flow, and once completed the shaft will be among the most advanced small scale underground developments in Ethiopia, with potential for replication and ongoing cooperation with the Ministry of Mines.

Chariot Resources advances Nigerian lithium plans with Chinese partnership

ASX-listed Chariot Resources has signed a nonbinding memorandum of understanding with China-based Fujian Jinjianqiao New Energy Technology to explore lithium offtake, project financing, and local processing in Nigeria, aiming to speed up production from its Nigerian lithium projects, the deal will assess sales of direct shipping ore to Sagamu and consider longer-term supply of spodumene concentrate and other products, with Jinjianqiao offering logistics, processing support, testing, storage, sales, and access to downstream capacity, the parties may later negotiate exclusive long-term offtake for one of Chariot’s four projects, discuss credit lines and prepayment financing, and evaluate building a local lithium processing facility to support Nigeria’s goal of adding more value locally, Jinjianqiao is a major lithium trader with strong Africa to China links that sold about 90,000 tonnes in 2025 and expects volumes to double in 2026, and for Chariot the MoU could connect Nigerian resources to global markets while unlocking funding and infrastructure for long-term growth.

Lucara pushes Karowe underground expansion despite diamond market slump

Lucara Diamond is continuing with the underground expansion of its Karowe Mine in Botswana despite weak global diamond demand and competition from lab-grown stones, supported by an updated feasibility study showing strong long-term value, with the project extending mine life by about 10 years, targeting 4.5 million carats, focusing on the high-value South Lobe of the AK6 kimberlite, and maintaining Karowe’s position as one of the world’s highest-margin diamond mines, while open-pit mining ends before June and underground operations ramp up toward commercial production from 2028, using a 2.85 million tonnes per year capacity, requiring an estimated $779 million in pre-production capital of which $436 million is already invested, with remaining funding expected from cash flow and possible equity or debt, and generating an after-tax net present value of $432 million and more than $1.3 billion in net income through 2038, building on Karowe’s history of recovering exceptional large diamonds such as the 1,758-carat Sewelô.

Alphamin reports fatal blasting accident at Mpama South mine in the DRC

Alphamin Resources Corp confirmed that an employee died in a workplace incident at its Mpama South underground mine in east central Democratic Republic of the Congo on 24 December at about 18:00 local time, when an unexpected detonation happened during routine preparations for a planned night shift blast while blasting wires were being connected, even though underground areas had been evacuated as scheduled, the employee sustained fatal injuries, authorities were immediately notified, a full investigation was launched to determine the cause, operations were temporarily suspended as a precaution and later resumed after an inspection by local authorities, the company expressed condolences to those affected, said safety remains its top priority, and reiterated its commitment to high safety standards at the Bisie tin operations which are important to global tin supply.

Rio Tinto and Glencore Explore Mega Merger to Create World’s Biggest Miner

Rio Tinto is in early talks to possibly buy Glencore in a major all share deal that could create the world’s largest mining company with a combined value of about $207 billion, driven mainly by the growing importance of copper for the energy transition and rising artificial intelligence demand, the talks are still at an early stage with no clear structure and could include some or all of Glencore’s assets, this is the second time the companies have discussed a deal since late 2024, investors reacted carefully with Glencore shares rising and Rio Tinto shares falling due to overpayment concerns, UK takeover rules give Rio Tinto until February 5 to decide whether to make a formal offer, and analysts point to risks such as valuation, cultural differences, coal asset exposure, and possible antitrust issues, especially from China, as Rio Tinto under new CEO Simon Trott focuses more on copper and simplifying its portfolio while Glencore’s trading focused model presents both potential benefits and challenges.

Editor: Vural Burç ÇAKIR