Africa Mining News of Week 3, 2026

Dear Africa Mining Community,

Welcome to Week 3 of 2026, where we bring you a curated snapshot of the most important developments shaping Africa’s mining and mineral exploration landscape.

In this edition, we highlight major project milestones across rare earths, iron ore, copper, cobalt, gold, graphite, tin, and PGMs; strong financial and operational performances from leading producers; and growing geopolitical and strategic shifts as Africa positions itself at the center of global critical mineral supply chains. From pilot-scale processing breakthroughs and first production milestones to landmark infrastructure projects and historic first shipments, this week reflects both the scale of opportunity and the pace of transformation underway across the continent.

As always, our goal is to keep you informed, inspired, and connected to the evolving story of Africa’s mining sector.

Enjoy this week’s insights,

Team AFMICO

Africa Mining News of Week 3, 2026

Rainbow Rare Earths advances Phalaborwa with pilot-scale processing milestone

Rainbow Rare Earths has built and commissioned a pilot plant and begun pilot-scale operations at its Phalaborwa rare earths project in South Africa, marking an important step toward validating the updated processing flowsheet and advancing the project to feasibility and financing, the plant uses proprietary technology to run an optimised leach circuit and produce pregnant leach solution for ion exchange and impurity removal testing, along with bulk samples for off-site solvent extraction work, the program aims to produce separated neodymium and praseodymium oxide and a SEG plus Group product with expected purity above 99.5 percent, this is the second pilot run in 18 months and focuses on finalising the flowsheet, major improvements include cutting leach residence time from 32 hours to 8 hours and reducing heating and filtration needs, pilot operations are planned to continue through the first half of 2026 and the results will support the definitive feasibility study and third-party validation for project financing.

Thor Explorations delivers record Q4 on strong gold prices

Thor Explorations Ltd reported a record fourth quarter supported by strong production and higher gold prices at its Segilola Gold Mine in Nigeria, pouring 23,719 ounces of gold in Q4 and 91,910 ounces for the full year 2025, finishing at the top end of guidance, Q4 gold sales reached 25,830 ounces at US$4,189 per ounce, delivering record unaudited revenue of US$108 million, the company ended the quarter with about US$137 million in cash and 3,188 ounces of bullion, during Q4 it milled 242,182 tonnes at an average grade of 3.31 g/t gold with plant recovery of 94.8 percent, total mine production was 580,615 tonnes at 1.71 g/t gold, a total Q4 dividend of C$0.0275 per share was declared including a bonus dividend, 2026 production guidance is set at 75,000 to 85,000 ounces with all in sustaining costs of US$1,000 to US$1,200 per ounce, and the company confirmed ongoing near mine exploration in Nigeria and progress at the Douta Project in Senegal with drilling and feasibility updates expected in early 2026.

D.R. Congo moves to attract US capital into strategic minerals

The Democratic Republic of Congo plans to present a list of strategic mineral projects to US investors as the United States steps up efforts to reduce China’s control of critical mineral supply chains, with talks focused on commercial terms only and no special treatment, covering copper, cobalt, lithium, and tantalum projects, as Congo is the world’s second largest copper producer and the top supplier of cobalt, while Chinese companies currently control about 80 percent of the country’s mining output, and the move follows a minerals agreement announced in December that is tied to a broader US backed peace framework, showing Congo’s aim to diversify investors despite ongoing security challenges and growing global demand for minerals used in electric vehicles, defence, and advanced electronics.

D.R. Congo Unveils Ambitious $29bn Iron Ore and Infrastructure Project

The Democratic Republic of Congo has launched a state-led iron ore and infrastructure project called MIFOR valued at about $29 billion to diversify its mining sector beyond copper and cobalt, developing an estimated 20 billion ton iron ore deposit with an average grade of 60 percent in the remote northern region, building major rail and river logistics to move ore through the Congo River to the Atlantic and export via the deep-water Banana Port, starting with production of 50 million tons per year and potentially expanding to 300 million tons, with strong interest from institutional investors and an inter-ministerial commission approved to oversee what the government calls the biggest transformation of the country’s extractive industry in over a century.

Gecamines Secures Major Copper Offtake From Tenke Fungurume

Gecamines, the state-owned mining company of the Democratic Republic of Congo, confirmed it will purchase 100,000 tonnes of copper in 2026 from the Tenke Fungurume mine operated by CMOC, equal to its 20 percent ownership stake in the mine, with deliveries spread across the year and all volumes exported to the United States, supported by Swiss trader Mercuria which will provide financial, logistical, and technical assistance, as the deal strengthens trade ties with the US, supports recent cooperation agreements, and fits into broader reforms aimed at increasing state control over mineral sales and reinforcing the country’s role as a leading global copper supplier.

D.R. Congo steps forward as a key partner in the global energy transition

The Democratic Republic of Congo presented itself at the Future Minerals Forum in Riyadh as a strategic partner in the global energy transition, with Minister of Mines Louis Watum highlighting a shift from exporting raw minerals to building in country value addition, transparency, and long term partnerships, noting that the DRC leads global copper and cobalt production vital for electric vehicles and renewable energy, aims to become a hub for battery and clean energy supply chains, seeks an investment corridor linking Saudi capital to Congolese resources, and is prioritizing local refining, special economic zones, regulatory stability, digitized mining systems, and transparency aligned with international standards, while over $45 billion in existing mining investment and a young population with 70 percent under 30 support its ambition to secure supply chains, drive the energy transition, and share future economic growth with global partners.

Ivanhoe hits 2025 targets as Kamoa-Kakula smelter gains momentum

Ivanhoe Mines met its 2025 production targets at the Kamoa-Kakula copper complex and the Kipushi zinc mine in the Democratic Republic of Congo, showing a steady recovery after earlier disruptions, Kamoa-Kakula produced 388,838 tonnes of copper in concentrate within guidance despite water inflow issues that limited access to higher grade ore, managed through staged dewatering, the Phase 3 concentrator reached record throughput, and the on-site smelter started in late 2025 now produces about 500 tonnes per day of 99.7 percent pure copper anodes, with first exports expected soon, the smelter is set to cut logistics costs by more than half per unit of copper and add revenue from sulphuric acid by-product sales, 2026 copper guidance was reaffirmed at 380,000 to 420,000 tonnes with sales expected to exceed production by 20,000 tonnes due to destocking, Kipushi delivered a record 203,168 tonnes of zinc in concentrate in 2025 supported by improved power stability and early de-bottlenecking, and 2026 zinc guidance was set at 240,000 to 290,000 tonnes.

Caledonia Bets Big on Zimbabwe’s Future Gold Giant

Caledonia Mining Corporation plans to invest 132 million dollars in 2026 to advance the Bilboes project, which is expected to become Zimbabwe’s largest gold mine, supported by high gold prices and clearer government policies, with the spending forming part of a 162.5 million dollar capital program toward a total project cost of 584 million dollars, building on the company’s existing Blanket Mine that produces about 80,000 ounces per year, with first gold from Bilboes expected in late 2028, steady production of around 200,000 ounces per year from 2029, an initial mine life of 10 years, financing planned through non recourse debt, internal cash flow, and gold streaming, and additional support coming from Zimbabwe’s decision to reverse proposed royalty and tax changes.

Rome Resources sees promising tin intersections as Kalayi drilling advances

Rome Resources Plc reported positive early results from its second phase drilling at the Kalayi prospect in the Bisie North project in the Democratic Republic of Congo, with drilling at both Kalayi and Mont Agoma supporting its geological model and expectations of more tin mineralisation at depth, two drill rigs are active, and at Kalayi a tin rich zone was intersected in hole KBD019 with a six metre interval between 129 metres and 135 metres averaging 1.6 percent tin from handheld XRF readings, this interval sits within a broader 26 metre zone containing disseminated cassiterite, following a maiden Mineral Resource Estimate that confirmed a large polymetallic system, at Mont Agoma hole MADD034 reached 94 metres as a control point while hole MADD035 has extended to about 190 metres within the main mineralised zone, with drill samples to be sent for laboratory testing and further updates expected as results are received and deeper drilling continues.

Mali Gold Output Drops Sharply Amid Mining Reforms

Mali’s industrial gold production dropped sharply in 2025, falling 22.9 percent to 42.2 metric tons from 54.8 tons in 2024, as stricter mining reforms introduced in 2023 and a prolonged dispute that suspended a major gold complex disrupted the sector, weakened confidence, and reshaped production rankings, even though the government recovered 761 billion CFA francs in arrears, new mines opened, and small scale operations expanded, with the largest complex reopening mid year under provisional administration but producing only 5.5 tons, a new leading producer delivering 17.5 tons, artisanal output staying flat at six tons, and total national gold production reaching 48.2 tons, still below official forecasts and well under the record levels seen in 2023.

D.R. Congo’s State Miner Gecamines Eyes Strategic Takeover of Key Cobalt Player

Congolese state miner Gecamines plans to buy struggling copper and cobalt producer Chemaf SA for up to $1 million, then bring in a new majority investor, as competition grows between the US and China for critical minerals in the Democratic Republic of Congo, where Chemaf is building the large Mutoshi cobalt mine, holds many unused mining licenses, and carries about $900 million in debt, including a $600 million loan arranged by Trafigura, after a previous sale to a Chinese firm failed due to blocked approvals, with Gecamines aiming to keep a 5% free carry and at least a 20% stake, market production to US buyers, and leverage its control of a key permit, while at least five companies compete for Chemaf and a new US Congo minerals agreement highlights rising strategic demand as cobalt prices recover.

CMOC Bets Big on Copper, Holds Firm on Cobalt

China’s CMOC Group Ltd. is targeting strong copper growth in 2026 with output forecast at 760,000 to 820,000 tons, up to 11% higher year on year, supported by a copper price rally since late 2025 that has lifted net income by about 50% to as much as 20.8 billion yuan, or around $3 billion, while demand stays firm from electrification, manufacturing, and construction, as peers like Zijin Mining also expand, at the same time CMOC is keeping cobalt production steady at 100,000 to 120,000 tons after a record 117,549 tons in 2025, all from the Democratic Republic of Congo, which supplies about 75% of global cobalt and has imposed export bans and quotas to curb oversupply, with CMOC expected to export 31,200 tons in 2026 on top of delayed volumes, as cobalt hydroxide prices have jumped 345% since February and benchmark prices have more than doubled, strengthening CMOC’s position as the world’s largest cobalt miner while copper remains its main growth driver.

Blencowe Delivers Strong Deep-Hole Graphite Results in Uganda

Blencowe Resources reported strong deep-hole drilling results from the Beehive deposit at its Orom-Cross graphite project in Uganda, confirming thick and high-grade graphite mineralisation with good continuity and scale, with hole L237B intersecting nearly 94 metres at just over 6 percent total graphite carbon and hole L239B intersecting more than 95 metres at over 5.6 percent total graphite carbon, both starting near surface and remaining open at depth, which shows clear potential for further growth, supports long term development, positions Orom-Cross to supply higher quality graphite products, aligns with growing global demand for high quality graphite, and is backed by ongoing drilling, a large volume of results still to come, and continued updates expected through 2026 as exploration and funding discussions progress.

Platreef Hits First Production as Ivanhoe Mines Powers Ahead

Ivanhoe Mines has reached first concentrate production at its Platreef project in Limpopo, with platinum, palladium, nickel, rhodium, gold and copper produced in November 2025 and the first sale to Northam Platinum completed in Q4 2025, creating early revenue, the company says Platreef is the world’s largest precious metals mine under development and is ramping up toward about 80% of nameplate capacity by mid 2026, while Shaft 3 is close to completion and will lift hoisting capacity from 0.8 Mtpa to around 5 Mtpa by April 2026, the fully funded Phase 2 expansion targets about 450,000 ounces of PGM and gold per year by end 2027, supported by a $700 million senior project finance facility, Phase 2 cash costs are estimated at $599 per ounce and could fall to about $511 per ounce with Phase 3, the project hosts 59 Moz indicated and over 90 Moz inferred resources, higher metal prices have lifted Phase 2 value by more than 70%, with Phase 3 potential exceeding $5 billion, and Ivanhoe believes Platreef’s scale and low costs position it to operate for generations as talks continue to speed up a future Phase 3 expansion.

Aurum Delivers Shallow High-Grade Gold Success at Boundiali BDT2

Aurum Resources reported strong high grade gold drill results at the BDT2 deposit within its Boundiali Gold Project in Côte d’Ivoire, supporting the growth of its 2.41 million ounce gold asset and showing solid near surface mineralisation, results include 4.03 metres at 10.22 g/t gold with 1.5 metres at 27.13 g/t gold, 7.15 metres at 4.71 g/t gold with one metre at 31.24 g/t gold, and wider zones such as 20 metres at 1.18 g/t gold, mineralisation remains open along strike and at depth with some holes extending 180 metres below the current resource, the results are part of a 100,000 metre infill drilling program that will support a mineral resource update planned for Q1 2026, Aurum plans further growth through an aggressive 2026 drilling campaign at Boundiali and Napié backed by a cash position of about $40.1 million as it moves Boundiali toward a definitive feasibility study in late 2026.

Koryx Raises C$25 Million to Fast-Track Haib Copper Project in Namibia

Koryx Copper has raised C$25 million through a bought-deal private placement by issuing 10.2 million shares at C$2.45 per share, with an option for underwriters to buy up to 1.53 million more shares, and the financing is expected to close around 20 January 2026, with the funds to be used for technical studies, exploration, and working capital as the company advances its flagship Haib Copper Project in southern Namibia, a large copper-molybdenum porphyry system with more than 80,000 metres of historical drilling, an indicated resource of 414 million tonnes at 0.35 percent copper, an inferred resource of 345 million tonnes at 0.33 percent copper, copper mineralisation mainly from chalcopyrite, potential for long-life open-pit mining with flotation and heap leach options, and while Koryx also holds exploration licences in Zambia, Haib remains its main focus as the company works to reduce risk and define a clear development path.

Simandou Iron Ore Reaches China in Historic First Shipment

The first shipment of Simandou iron ore arrived in China on 17 January 2026, marking a major milestone for the world class Simandou project in Guinea, as the 200,000 ton bulk carrier Winning Youth completed a 46 day voyage of nearly 11,000 nautical miles from Morebaya Port in Guinea to Majishan Port in Zhoushan, China, bringing Simandou iron ore to the international market for the first time, confirming the full commissioning of the integrated mine, rail, port and maritime transport system, delivering cargo from the initial exports of the Winning Consortium Simandou and its partners, demonstrating strong operational readiness, growing confidence in African mining infrastructure, close cooperation among project partners, and a commitment to support Guinea’s long term economic development and the global steel industry’s sustainability goals.

Editor: Vural Burç ÇAKIR