Africa Mining News of Week 40, 2025

Dear Africa Mining Community,

Welcome to this week’s edition of the Africa Mining Newsletter, your trusted source for the continent’s most important mining developments.

From remarkable gold discoveries in Côte d’Ivoire and leadership changes at global giants like Barrick and Newmont, to new investment milestones in Botswana, Ghana, and Uganda, the African mining scene continues to evolve with energy and ambition.

We also take a closer look at major events shaping the future of the industry, including African Mining Week 2025 in Cape Town, where key voices are defining strategies for mineral industrialization across the continent. Whether it’s gold, graphite, uranium, or platinum, this week’s stories highlight Africa’s growing role at the heart of global mining and energy transformation.

Enjoy this week’s insights,

Team AFMICO

Africa Mining News of Week 40, 2025

🌍 Aurum Strikes Bonanza Gold Intercepts at Boundiali, Côte d’Ivoire

Aurum Resources has announced exceptional high-grade gold drill results at its Boundiali Gold Project in Côte d’Ivoire, including a spectacular intercept of 1 m @ 152.35 g/t gold from 96 m. The company’s 100,000 m infill drilling campaign across the BMT3 and BDT2 deposits is boosting confidence in its 2.41 Moz resource base, with results confirming strong, continuous mineralisation. Aurum’s total resources now stand at 3.28 Moz, and the company, supported by a solid $40 million cash balance and 12 owned drill rig, plans to expand drilling beyond 130,000 m in 2025. A Pre-Feasibility Study and two Mineral Resource Estimate updates are due in early 2026. With open-ended gold potential and well-funded exploration, Aurum is positioned for major growth and value creation over the next year.

⛏️ Barrick Gold Names Mark Hill Interim CEO After Bristow’s Surprise Exit

Barrick Gold has named Mark Hill as interim president and CEO after the unexpected resignation of longtime leader Mark Bristow, who had been expected to stay until 2028. Bristow, who took the helm following Barrick’s 2019 merger with Randgold, was known for reducing debt, reshaping the company’s portfolio, and managing operations in challenging regions. His sudden exit surprised investors, especially given his role in advancing the major Reko Diq copper-gold project in Pakistan. Hill will continue serving as COO while the board, supported by Egon Zehnder, searches for a permanent replacement. Barrick now faces key challenges, including a $1 billion write-off in Mali over tax disputes, though its stock rose slightly after the announcement as investors looked ahead to new exploration updates, particularly from Nevada’s Fourmile discovery.

🌍 African Mining Week 2025 Opens in Cape Town

African Mining Week 2025 has officially opened in Cape Town, uniting mining leaders, policymakers, investors, and stakeholders from across the continent under the theme “Vision & Strategy – Setting the Stage for Minerals Industrialization.” Running from October 1–3, the event features keynote speeches, ministerial forums, investment panels, and networking sessions aimed at advancing Africa’s beneficiation and value-addition agenda. Highlights include addresses by Nigeria’s Minister of Solid Minerals, Dr. Oladele Alake, and AFC’s Franklin Edochie, along with discussions on women in mining leadership, the energy transition, and small-scale mining formalization. Major players like Anglo American, Ivanhoe Mines, B2Gold, and Rand Refinery are showcasing opportunities, while country spotlights on Ghana, Nigeria, South Sudan, and Zimbabwe highlight new investment frameworks. The summit serves as a key platform for shaping Africa’s mining future and promoting sustainable industrial growth through collaboration and innovation.

🚨 Historic Leadership Change at Newmont: Natascha Viljoen to Become First Female CEO

Newmont Corporation has announced that President and COO Natascha Viljoen will become its next CEO on January 1, 2026, succeeding Tom Palmer, who will retire at the end of 2025 after a distinguished 40-year mining career. Viljoen’s appointment marks a historic first, making her the company’s, and the global gold mining industry’s, first female CEO. Palmer, who will serve as a strategic advisor until March 2026, leaves behind a legacy of transformative deals, including the Goldcorp and Newcrest acquisitions and the Nevada Gold Mines joint venture. Viljoen, a South African and former CEO of Anglo American Platinum, is known for her leadership in safety, efficiency, and team performance. As she prepares to lead Newmont, she aims to strengthen the company’s world-class gold and copper portfolio, driving it toward a future that is “stronger, simpler, and more resilient.”

📉 Mali’s Gold Output Drops 32% Amid Barrick Mine Suspension

Mali’s industrial gold production has plunged 32% year-on-year to 26.2 tons by the end of August, mainly due to the seven-month suspension of Barrick’s Loulo-Gounkoto mine over tax and mining code disputes. Output now sits 22.5% below forecasts, making the annual target of 54.7 tons unlikely to be achieved. Although operations resumed in July under government control, production is only at 25% capacity and may take four months to recover due to spare parts shortages. Barrick has excluded the mine from its 2025 outlook, though Mali still expects partial output. With ongoing regulatory tensions, resource nationalism, and falling investor confidence, Mali’s mining industry faces mounting challenges, especially after a 23% production decline in 2024.

⛏️ Botswana Re-Opens Tataki Mine, Driving Jobs and Growth

Botswana has officially reopened the Tataki Mine (formerly Tati Nickel Mine) under President Duma Boko’s leadership, marking a major step toward revitalizing the nation’s mining sector and boosting local development. The polymetallic mine will create around 400 direct jobs and over 3,000 indirect opportunities, with workers earning a minimum wage of P4,000. Equipped with advanced technologies, the operation will drive demand for skilled professionals and strengthen Botswana’s industrial base. The government aims to attract further investment and promote inclusive growth through supplier development programs and community upliftment initiatives. The reopening of Tataki Mine not only supports economic expansion but also underscores Botswana’s commitment to sustainable, community-centered mining.

🏭 Asante Gold Completes Sulphide Plant at Bibiani Mine, Ghana

Asante Gold has completed and commissioned the new sulphide processing plant at its Bibiani Mine in Ghana, marking a major advancement in its production strategy. Supported by a $100 million deposit from Fujairah Holdings as part of a $500 million gold forward sale, operations have begun with 12-hour shifts and will move to full 24/7 production by September 30. The plant’s gold recovery rate is expected to jump from 60% to up to 92% by late October, with a nameplate capacity of 4 million tonnes per year. Asante targets annual production of 450,000–500,000 ounces across its Bibiani and Chirano mines. With a market value of C$1.75 billion, the company is now entering a ramp-up and optimization phase, strengthening its position as a leading gold producer in West Africa.

🔋 High-Grade Graphite Extensions Boost Blencowe’s Orom-Cross Project

Blencowe Resources has reported excellent assay results from its largest-ever drilling campaign at the Orom-Cross graphite project in Uganda, confirming high-grade extensions across key zones including Camp Lode, Northern Syncline, and the new Beehive deposit. The results reinforce Orom-Cross as one of Africa’s most advanced and promising graphite projects, combining shallow, high-grade ore with large-scale potential. The data will support a JORC resource upgrade and feed into the Definitive Feasibility Study due in Q4 2025. With exceptional graphite purity reaching 99.99% GC, access to low-cost hydropower, and strong infrastructure, Orom-Cross is set to become a world-class, low-cost source of battery-grade graphite, positioning it as a major contributor to the global clean energy transition.

🚀 Richard Stewart Takes the Helm as CEO of Sibanye-Stillwater

Richard Stewart has officially become the new CEO of Sibanye-Stillwater as of October 1, 2025, succeeding Neal Froneman, who retired after 12 years of transformative leadership. A geologist with over 25 years of experience, Stewart holds a PhD from the University of the Witwatersrand and an MBA from Warwick Business School. Having joined Sibanye-Stillwater in 2014, he previously served as COO and Chief Regional Officer for Southern Africa, playing a key role in the company’s acquisitions and growth strategy. He also serves as Vice President of the Minerals Council of South Africa and is a Fellow of the Geological Society of South Africa. Alongside his appointment, Mduduzi Bhulose, former Head of Listed Equities at the Public Investment Corporation, has been named EVP of Business Development. Stewart praised Froneman’s legacy and emphasized a continued focus on sustainable growth, signaling a new era of leadership and strategic advancement for Sibanye-Stillwater.

🔎 Lotus Begins Infill Drilling at Letlhakane Uranium Project in Botswana

Lotus Resources has begun infill drilling at its Letlhakane Uranium Project in Botswana to upgrade its 113.7 million-pound uranium resource and gather samples for a Pre-Feasibility Study due in late 2026. The program will cover up to 12,000 m of reverse circulation and 1,500 m of diamond drilling across roughly 180 holes, completed in two phases over four months. Letlhakane could support annual production of around 3 million pounds of U₃O₈, with ongoing trade-off studies exploring improved leaching methods, acid reduction, and process optimization. Together with the restarted Kayelekera Mine in Malawi, the project positions Lotus as an emerging global uranium producer. As demand for nuclear fuel strengthens, the company’s twin-asset strategy enhances its long-term role in the international uranium supply chain.

🕯️ Fatal Accident Halts Simandou Iron Ore Mine in Guinea

Operations at Guinea’s massive Simandou iron ore project have been suspended following a fatal accident that killed three foreign workers. Winning Consortium Simandou (WCS) halted all activities to conduct a full safety investigation and review procedures before resuming work. This marks the second fatality-related suspension in under two months, with 14 deaths reported at the site since November 2023. The project, spanning four blocks shared between WCS and the Rio Tinto–Chinalco partnership, holds 2.4 billion tonnes of high-grade iron ore and is expected to produce 120 million tonnes annually, supported by a 600 km railway and new deep-water port. Despite its vital economic importance to Guinea, the tragedy highlights persistent safety challenges in one of the world’s largest and most ambitious mining developments.

💸 Tharisa Commits US$547 Million to Underground Platinum Expansion

Tharisa has announced a US$547 million investment to transition part of its Bushveld Complex operations in South Africa from open-pit to underground mining, extending the mine’s life and unlocking deeper platinum and chrome reserves. The first underground shaft is expected to begin ore delivery in Q2 2026, with full capacity reaching 200,000 ounces of PGMs and over 2 million tonnes of chrome concentrate annually, up from 2025’s projected 140,000–160,000 ounces and 1.8 million tonnes, respectively. The company is also advancing the Karo PGM open-pit project in Zimbabwe, one of the few new platinum developments globally. Despite concerns over declining PGM demand due to electric vehicles, Tharisa remains confident in the metals’ importance for fuel cells and hydrogen technologies, positioning itself for long-term relevance in the clean energy transition.