Africa Mining News of Week 44, 2025
Dear Africa Mining Community,
Welcome to this week’s roundup of the most important developments shaping Africa’s mining and exploration landscape.
As Africa’s mining landscape continues to evolve, this week’s updates highlight a powerful mix of progress and transformation across the continent. From Ghana’s newest gold producer and Guinea’s advancing iron ore corridor to South Africa’s rare earth ambitions and Botswana’s diamond resurgence, each story underscores how Africa is strengthening its role in global mineral supply chains.
In this edition, we also cover strategic developments from Namibia and Mali, significant project funding in Tunisia, and Fortuna’s expanding gold potential in Côte d’Ivoire. Together, these stories reflect a continent rich in opportunity, innovation, and resilience; where every new milestone moves Africa further toward becoming the driving force of the world’s mining future.
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 44, 2025
Newmont Achieves Commercial Production at Ghana’s Ahafo North Mine
Newmont Corporation has started commercial production at its Ahafo North gold mine in Afrisipakrom, Ghana, after its first gold pour in September. The project, one of West Africa’s largest new gold developments, is expected to produce 50,000 ounces in 2025 and increase to between 275,000 and 325,000 ounces annually for about 13 years. Located 50 kilometers from Ahafo South, it benefits from existing infrastructure and has created around 4,500 construction jobs, along with 560 permanent and 1,000 contracted positions. Following the divestment of Akyem in April 2025, Ahafo North becomes Newmont’s second operating mine in Ghana. CEO Tom Palmer, who will retire in December, credited the success to teamwork and long-term vision, emphasizing Newmont’s commitment to Ghana’s sustainable growth and responsible mining.
Ivanhoe Atlantic’s Kon Kweni Iron Ore Project in Guinea Nears Construction Phase
Ivanhoe Atlantic Inc has completed Environmental and Social Impact Assessments (ESIA) for both Guinea and Liberia, paving the way for construction of the Kon Kweni iron ore project to start in early 2026. The project includes the US$1.8 billion Liberty Corridor, linking the mine in Guinea to a new deep-water port at Didia, Liberia. Kon Kweni contains 751.9 million tonnes of iron ore, including 209 million tonnes of high-grade 67.8% ore. Stage one aims for 2 million tonnes of annual production, rising to 5 million tonnes, with a second stage planned for 2029 to reach 30 million tonnes per year. Ivanhoe Atlantic holds 85% ownership, while the Guinean government and Mifergui own 10% and 5% respectively. The project will strengthen both Guinea and Liberia’s economies, support U.S. critical mineral supply chains, and is part of Ivanhoe Atlantic’s plan to raise A$300 million through a listing on the Australian Stock Exchange. Founded by Robert Friedland, the company aims to transform regional mining and logistics through this major cross-border development.
IDC Backs Metallurgical Phase of South Africa’s Steenkampskraal Rare Earths Project
The Industrial Development Corporation (IDC) has provided initial funding to the Steenkampskraal Monazite Mine (SMM), launching Phase 1 of a six-phase plan to build South Africa’s first fully integrated rare earths value chain. This funding will enable construction of a concentration plant producing monazite concentrate with over 50% total rare earth oxides. Future phases will expand into mixed rare earth carbonate production, REE separation, fluorination, metallization, and final manufacturing, supported by partnerships with Remedy Group, Rare Earth Refiners, and Chimerical Technology. The project aims for full vertical integration from mining to finished products, while also recovering thorium and Radium-228 for medical use with Thor Medical. Aligning with South Africa’s 2011 Minerals Beneficiation Strategy, the initiative promotes downstream processing, job creation, and industrial growth. The IDC’s backing marks a significant move toward establishing South Africa as a major global player in critical minerals and green technology supply chains.
EBRD Grants €1M to PhosCo to Boost Tunisia’s Gasaat Phosphate Project
PhosCo Ltd has received a €1 million grant from the European Bank for Reconstruction and Development (EBRD) and an additional $1.1 million investment from its Managing Director, Taz Aldaoud, to advance the Gasaat Phosphate Project in Tunisia. The combined funding will accelerate optimisation work before the Bankable Feasibility Study. The deal includes issuing 150 million options to EBRD in two tranches, with 90 million subject to shareholder approval, all exercisable at 5 cents and expiring either 120 days after the updated Scoping Study or by 31 January 2028. The EBRD’s support highlights strong confidence in the project’s potential and Tunisia’s growing phosphate sector, while reinforcing its commitment to sustainable resource development in North Africa.
Botswana Drives De Beers’ 38% Surge in Diamond Production for Q3 2025
De Beers Group recorded a 38% year-on-year increase in diamond output to 7.7 million carats for Q3 2025, mainly due to strong performance in Botswana, where production rose 51% to 6 million carats from the Jwaneng and Orapa mines. South Africa’s production grew 28% to 0.7 million carats, Namibia remained steady at 0.5 million, while Canada dropped 15% to 0.5 million due to lower-grade ore. Rough diamond sales recovered to 5.7 million carats, generating US$700 million in revenue, although the average price per carat slipped 3% to US$155 amid a 14% decline in the rough price index. Despite challenging market conditions and US tariffs on Indian imports, relief came as natural diamonds were added to the US Tariff Annex III list. De Beers kept its 2025 guidance at 20–23 million carats with costs near US$94 per carat, underscoring Botswana’s vital contribution and the company’s resilience in a tough global market.
Kumba Iron Ore Delivers Stable Output Amid Improved Rail Logistics
Anglo American’s Kumba Iron Ore maintained a stable performance in Q3 2025, with total production slightly down 2% to 9.2 million tonnes due to maintenance at Sishen, while Kolomela’s output rose 8% through flexible operations. Sales increased 6% to 9.4 million tonnes, driven by better Transnet rail performance and strong port inventories, keeping finished stock at 7.3 million tonnes. Kumba achieved an average realised price of $94 per tonne, 12% above the benchmark. Meanwhile, Anglo American’s Minas-Rio mine in Brazil raised its 2025 production guidance to 23–25 million tonnes after a successful pipeline inspection, lifting the group’s overall iron ore guidance to 58–62 million tonnes. Unit costs remain around $36 per tonne, and the company continues optimising its portfolio, including coal restarts and a merger with Teck to form a major critical minerals producer with 70% copper exposure. CEO Duncan Wanblad praised the improved rail logistics and operational stability, noting Kumba’s progress toward meeting its 2025 goals through efficiency and strategic growth.
Altona Rare Earths Reports High Success Rate in Monte Muambe Fluorine Results
Altona Rare Earths Plc reported strong fluorine assay results from its Monte Muambe project in Mozambique, with 38% of 231 samples containing over 5,000 ppm of fluorine, confirming high mineralisation potential. The assays, based on soil samples selected for gallium content above 60 ppm, have led to the identification of three new targets—Jambire, Jambire Mn, and Kudu—where ground surveys confirmed fluorspar float and outcrops. The 2025 drilling programme has been expanded, with about 600 meters of diamond drilling completed so far. Core samples are being prepared in South Africa for geochemical and metallurgical testing to speed up analysis. Using a pXRF analyser, the company is performing real-time gallium and rare earth element assays to guide drilling, with around 45% of drilled cores showing visible fluorspar. pXRF results from the Python Target also confirm consistent gallium mineralisation. These results strengthen Monte Muambe’s position as a promising fluorspar and gallium project, underlining Mozambique’s rising role in Africa’s critical minerals development.
Namibian President Takes Direct Control of Mines, Energy and Industry Ministry
Namibia’s President Netumbo Nandi-Ndaitwah has taken direct charge of the Ministry of Industry, Mines and Energy after dismissing Natangwe Ithete from his positions as deputy prime minister and minister, though he remains a member of parliament. While no reason was given for the removal, the presidency stated the change is meant to ensure continuity and stronger coordination in this vital sector. The move comes as Namibia accelerates efforts to expand its industrial and resource base, targeting first crude oil production by 2030 following major discoveries and continuing to strengthen its roles as a key uranium and diamond producer. The President’s decision highlights her intent to exercise closer control over the country’s strategic energy and mining industries during a pivotal growth phase.
World Bank Arbitration Body Denies Barrick’s Urgent Request in Mali Mining Dispute
The World Bank’s arbitration court, ICSID, has rejected Barrick Mining’s request to fast-track its arbitration case against the government of Mali, which began in December 2024 over disputes arising from Mali’s 2023 mining code. The law increases taxes and grants the state a larger share in mining ventures, directly affecting Barrick’s Loulo-Gounkoto gold complex, whose licence expires in 2026. Barrick had sought urgent measures in response to the detention of four employees and the appointment of a state administrator at the mine. ICSID confirmed issuing an order on provisional measures but withheld details, and both parties declined to comment. The ruling is a setback for Barrick’s efforts for a quick resolution, leaving uncertainty over the broader impact on investor confidence in Mali’s mining sector.
Fortuna Expands Underground Gold Potential at Séguéla Mine, Côte d’Ivoire
Fortuna Mining has announced strong drilling results from its Séguéla gold mine in Côte d’Ivoire, confirming high-grade underground mineralization at the Sunbird deposit. Key intercepts include 16 meters grading 7.3 g/t gold from 688 meters depth and 11.9 meters at 8.3 g/t from 448 meters, revealing a second high-grade shoot extending over 900 meters down plunge. The company is investing C$13.5 million in 2025 for exploration, with five rigs currently drilling to expand and upgrade resources. Mineralization remains open at depth and along strike, indicating further growth potential. Séguéla produced 137,781 ounces of gold in 2024, exceeding forecasts, with production expected to rise to 147,000 ounces in 2025 and up to 180,000 ounces by 2026. The mine holds 9.75 million tonnes of reserves at 3.38 g/t gold for a total of 1.06 million ounces, within a 620 sq. km land package hosting over 30 targets. Fortuna’s share price has risen 75% in 2025, driven by strong results and higher gold prices, reinforcing Séguéla’s importance in Côte d’Ivoire’s growing gold industry.
Eurasian Resources & Mercuria Seal $100 Million Copper Deal in DRC
Mercuria Energy Trading SA has entered a three-year agreement with Eurasian Resources Group (ERG), providing up to $100 million in prepayments to support ERG’s copper projects in the Democratic Republic of Congo. The deal will help accelerate copper development in one of the world’s most resource-rich regions, while strengthening Mercuria’s position in global metals trading. Mercuria’s metals division has already earned around $300 million in trading profits this year, and its partnerships with Gecamines in the DRC and operations in Zambia further expand its influence across Africa’s copper belt. ERG, which is 40% owned by the government of Kazakhstan, stands to benefit from this strategic financing. The agreement underscores Central Africa’s growing importance in the global supply of copper and cobalt, both vital for the clean energy transition.