Africa Mining News of Week 45, 2025

Dear Africa Mining Community,

Welcome to this week’s roundup of the most important developments shaping Africa’s mining and exploration landscape.

This week’s headlines capture the dynamic pulse of Africa’s mining and energy transition, from new gold and lithium projects to record-breaking production milestones and major corporate reshuffles. Across the continent, we’ve seen Mali and Ghana strengthen their regulatory and operational frameworks, new discoveries in the DRC and Namibia, and expanding investments from both Western and Asian players in strategic minerals like copper, graphite, and uranium.

As global demand for critical minerals surges, Africa continues to stand at the crossroads of opportunity and transformation. Here’s your quick tour through the continent’s most important mining developments of the past week, all curated, summarized, and contextualized by Africa Mining Community.

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 45, 2025

Balama Graphite Mine Delivers 26,000 Tonnes in Q3 2025 After Restart

Syrah Resources Ltd's Balama graphite mine in Mozambique produced 26,000 tonnes of graphite in Q3 2025, marking its first full quarter of output since restarting in June after a year-long suspension caused by weak prices and site disruptions. Operating in “campaign mode,” the mine adjusts production to match market demand while retaining capacity to scale up when conditions improve. Sales reached 24,000 tonnes, generating US$15 million in revenue at an average price of US$625 per tonne. With an installed capacity of 350,000 tonnes per year, Balama remains Africa’s largest graphite operation. Syrah has yet to provide forward production guidance but said it will maintain flexibility amid volatile market conditions, positioning the mine to benefit from rising demand for natural graphite driven by the global battery and electric vehicle industries.

Gold Fields Invests $36 Million for 12% Stake in Founders Metals’ Suriname Gold Project

GOLD FIELDS is investing C$50 million ($36 million) to buy a 12% stake in Founders Metals Inc., becoming its largest shareholder and boosting development of the Antino gold project in Suriname. The deal, pending TSX Venture Exchange approval, involves purchasing 12 million shares at C$4.15 each and gives Gold Fields board representation and participation rights in future financings. Founders will use the funds to expand exploration at Antino, located 275 km south of Paramaribo on the Guiana Shield near Newmont’s Merian and Zijin’s Rosebel mines, where five new gold zones have been discovered after 60,000 metres of drilling. The investment strengthens Gold Fields’ growth in the Americas following its C$2.2 billion Osisko Mining acquisition in 2024, reflecting increasing global interest in Suriname’s emerging gold sector amid rising gold prices and intensified M&A activity in Canada.

Large Tin-Copper-Zinc System Confirmed at Bisie North, DRC

Rome Resources Ltd has announced a maiden mineral resource estimate confirming a significant tin-copper-zinc system at its Bisie North project in the Democratic Republic of Congo (DRC). The estimate, based on drilling at the Kalayi and Mont Agoma prospects, represents the first quantified resource in the area and indicates strong potential for expansion. Current drilling has only tested shallow depths of 220–250 meters, with deeper and step-out drilling expected to define an additional 102,000–260,000 tonnes of tin. At Mont Agoma East, near-surface high-grade mineralization extends 23 meters, with grades increasing at depth, resembling the geological patterns seen at Alphamin’s Bisie mine and Peru’s San Rafael deposit. Rome plans continued drilling, resource updates, and negotiations to expand its ownership of exploration permits PR15130 and PR13274 while pursuing strategic partnerships to advance development. The discovery positions Rome Resources as an emerging force in the DRC’s fast-growing tin industry, with potential to mirror nearby world-class polymetallic deposits.

Sultan Resources Launches Damara Gold Project in Namibia with A$1.1 Million Budget

Sultan Resources has allocated A$1.1 million (N$13.3 million) to begin exploration at its new Damara Gold Project (EPL 7895) in Namibia, focusing on geological mapping and geophysical surveys within the North Central Zone of the Damara Belt, a region known for orogenic gold systems. Covering 151.98 km², the project lies near WIA Gold’s 2.93 Moz Kokoseb and Osino Resources’ 0.9 Moz Ondundu deposits, sharing similar geological traits. The Neoproterozoic Damara Supergroup rocks hosting the project are also linked to gold and critical mineralization, including rare earth elements and niobium near the Etaneno and Ondurakorume complexes. Sultan will acquire 85% ownership from Aldoro Resources, with 15% retained by Namibian partner Okonde Mining, pending shareholder approval on November 26, 2025. The Damara Project is set to become a key part of Sultan’s exploration portfolio, marking its expansion from Australia into Africa’s growing mineral-rich regions.

Mali Revokes Over 90 Mining Exploration Permits Amid Regulatory Crackdown

Mali’s government has revoked more than 90 mining exploration permits, including those held by subsidiaries of major international firms such as Harmony Gold, IAMGOLD, Cora Gold, Birimian Gold, and Resolute Mining, following widespread non-compliance with new mining regulations. The decree, signed by Mines Minister Amadou Keita on October 13, invalidates permits issued between 2015 and 2022 that failed to meet updated documentation and operational requirements under Mali’s revised mining laws. The affected permits, covering gold, iron ore, bauxite, uranium, and rare earth exploration, are now void and open for reallocation. While it remains unclear whether companies can appeal or reapply, Cora Gold noted that its affected licenses had already been voluntarily relinquished. The move aligns Mali with other African nations like Guinea in enforcing stricter oversight and reclaiming inactive or non-compliant assets. Coming amid lower gold production forecasts and shifting investor sentiment, the crackdown underscores Mali’s drive to reform its mining sector, enhance accountability, and strengthen state control through a more disciplined regulatory framework.

Newmont Inaugurates $900M Ahafo North Gold Mine, Highlights Ghana’s Fiscal Stability as Key to Investment

Newmont Corporation has inaugurated its $900 million Ahafo North gold mine in Ghana, marking a significant expansion of its long-term commitment to Africa’s leading gold-producing nation. The project, Newmont’s second major operation in Ghana after Ahafo South, is expected to generate about 1,000 permanent jobs and produce 50,000 ounces of gold in 2025, ramping up to 275,000–325,000 ounces annually over a 13-year mine life. During the launch, CEO Tom Palmer emphasized that stable fiscal frameworks and transparent tax systems are essential for sustaining mining investment across Africa. Ghana’s Vice President Jane Naana Opoku-Agyemang highlighted the importance of partnerships that deliver tangible benefits to local communities as the government pursues reforms to improve oversight and fairness in the sector. Despite instability in parts of West Africa, Ghana remains a stable and trusted jurisdiction, bolstered by record gold prices exceeding $4,380/oz in October. Together, Ahafo North and Ahafo South strengthen Newmont’s global production base and reaffirm Ghana’s role as a cornerstone of sustainable mining growth on the continent.

Aya Gold & Silver Values Morocco’s Boumadine Project at $3 Billion

Aya Gold & Silver announced a preliminary economic assessment valuing its Boumadine polymetallic project in Morocco at up to $3 billion after tax, with a 77% internal rate of return and just 1.2 years of payback at $4,000 per ounce gold. Even under a base case of $2,800 per ounce, the project delivers $1.5 billion NPV, 47% IRR, and a 2.1-year payback, with initial capital costs of $446 million and construction expected within two years. The mine plan spans six open pits and three underground mines over 11 years, processing 8,000 tonnes daily at an all-in sustaining cost of $1,021 per gold-equivalent ounce. Aya holds 85% of the 339 sq. km project in Morocco’s Errachidia province, near the Algerian border, with 600 sq. km more under exploration. Resources have grown 160% in indicated and 24% in inferred categories since 2024, and a 360,000-metre drill program will support a 2027 feasibility study. CEO Benoit La Salle FCPA, MBA said the PEA reflects only part of Boumadine’s vast potential as exploration continues across Morocco’s promising mineral belt.

Sylvania Platinum Reports Record Q1 FY2026 PGM Production, Up 16%

Sylvania Platinum Limited recorded its highest-ever quarterly production in Q1 FY2026, achieving a 16% increase in platinum group metals (PGM) output from its South African operations to 24,522 4E ounces (31,234 6E). Revenue rose 49% to $45.1 million, while EBITDA climbed 71% to $22 million, driven by a 20% increase in the PGM basket price to $1,953/oz. The company maintained stable operating costs of ZAR12,386/oz and ended the quarter with a $62.7 million cash balance. Capital spending reached $8.1 million, mainly allocated to the Thaba Joint Venture and ongoing plant upgrades. The new centralized PGM filtration plant remains on budget for Q2 FY2026 completion, and the Thaba JV has begun shipping chrome and PGM concentrates. No lost-time injuries were recorded across any operations. With FY2026 guidance unchanged at 83,000–86,000 4E ounces and up to 130,000 tonnes of chromite concentrate, CEO Jaco Prinsloo said the record quarter reflects strong operational performance and continued progress toward greater efficiency and sustainability within South Africa’s Bushveld Complex.

Lotus Resources Produces First Uranium at Malawi’s Kayelekera Mine

Lotus Resources has produced its first yellowcake uranium at the Kayelekera Mine in Malawi, marking its transition from developer to producer amid rising global uranium prices. The processing plant was fully commissioned during the September 2025 quarter, with steady-state production expected by Q1 2026 and full mining operations starting in Q4 2025. The company is refurbishing the acid plant for completion by early 2026 and plans to connect to Malawi’s national grid by the end of 2026 to reduce diesel use and emissions. Lotus also continues to advance its Letlhakane Uranium Project in Botswana, with a 13,500-metre drilling program supporting a Pre-Feasibility Study targeted for late 2026. Its low-acid processing flowsheet, validated by ANSTO, cuts acid consumption by about 70% with minimal recovery loss. Backed by A$96.7 million in cash and strong safety and community records, Lotus is positioning itself as a key uranium producer in southern Africa to meet the growing global demand for clean nuclear energy.

Kore Potash Considers Sale or New Funding to Advance $2B Kola Project in Congo

Kore Potash Plc is evaluating two non-binding offers from potential buyers as it considers strategic options for its $2 billion Kola potash project in the Republic of Congo. The company may pursue a full sale or new financing through equity and debt to move the project toward construction. Its shares rose 8.5% in early London trading before closing up 1% at 3.13p, valuing Kore at £152 million ($198 million). Designed to produce 2.2 million tonnes of muriate of potash annually, Kola ranks among Africa’s largest planned fertilizer projects. Kore previously secured a $2.2 billion financing proposal from OWI-RAMS and signed a $1.93 billion EPC contract with PowerChina International Group in 2024. With operations in Congo since 2010 and a mining licence since 2013, the company expects construction to start in 2026 and production within 3.5 years. Kore’s board continues to weigh options, emphasizing that remaining independent remains possible as it seeks the best path to develop one of the region’s most strategic potash assets.

Ariana Resources Begins Drilling at Dokwe Gold Project in Zimbabwe

Ariana Resources plc has started a 4,000-metre reverse circulation drilling program at its wholly owned Dokwe gold project in Zimbabwe, aiming to expand its existing one-million-ounce resource within a largely unexplored 12-kilometre mineralized corridor. The 26-hole campaign targets four priority zones identified from previous exploration and soil sampling, with assay results expected before year-end. Only 10% of the corridor has been drilled so far, and Ariana sees significant upside along the remaining strike. The program also includes plans for metallurgical sampling at Dokwe Central to support a future feasibility study. Managing Director Dr. Kerim Sener said the campaign will help refine the project’s long-term strategy and establish Dokwe as one of Zimbabwe’s most promising emerging gold discoveries amid renewed investor focus on the country’s mining sector.

Tanzania–Zambia Copper Corridor Reopens After Weeklong Disruption

Tanzania has reopened its border with Zambia, restoring the vital Dar es Salaam corridor after political unrest temporarily halted copper and cobalt exports. The route, essential for shipments from Zambia and the DRC to global markets such as China, is now operating normally, with about 250 trucks cleared daily in each direction according to the Zambia Revenue Authority. The closure had disrupted regional supply chains, causing delays in mining exports and triggering fuel shortages in Malawi. Stability returned after the swearing-in of President Samia Suluhu Hassan, easing tensions from the disputed election. The reopening is expected to clear backlogs and stabilize trade across southern and eastern Africa, reinforcing the corridor’s crucial role in supporting the continent’s mining and energy exports.

Gold Fields Posts Strong Q3 2025 Results with Solid Operational and Financial Performance

GOLD FIELDS delivered another strong quarter in Q3 2025, achieving higher production, lower costs, and improved financial strength across its global operations. Attributable gold-equivalent output rose 6% quarter-on-quarter and 22% year-on-year, driven by the successful ramp-up of Salares Norte. All-in Sustaining Costs fell 10% to US$1,557/oz, and All-in Costs declined 11% to US$1,835/oz, reflecting disciplined cost management. Net debt dropped by US$696 million to US$791 million, reducing the debt-to-EBITDA ratio to 0.17x. The company completed its acquisition of Gold Road Resources, securing full ownership of the Gruyere mine, and monetized Northern Star Resources shares, raising A$1.1 billion for debt repayment. Commercial production began at Salares Norte, while exploration advanced in Australia, Canada, Chile, and Peru. Although no fatalities occurred, three serious injuries highlighted ongoing safety priorities. Gold Fields remains on track to meet 2025 guidance of 2.25–2.45 million ounces at AISC between US$1,500 and US$1,650 per ounce, reinforcing its position as a leading global gold producer focused on safe, efficient, and sustainable growth.

South Africa’s Beeshoek Iron Ore Mine Shuts Down After ArcelorMittal Ends Purchases

African Rainbow Minerals Limited (ARM) announced that the Beeshoek iron ore mine in South Africa will be placed under care and maintenance after ArcelorMittal South Africa stopped buying its ore, ending a decades-long partnership. Operated by Assmang, a joint venture between ARM and Assore, Beeshoek halted mining at the end of October 2025, with 622 workers set to be retrenched by November 30. The closure follows the expiry of a long-term supply contract in June and the end of month-to-month sales in July. ARM’s review found no sustainable alternative markets or business model to keep the mine running, rendering operations economically unviable. ArcelorMittal faces its own difficulties, including weak steel demand, high energy costs, logistics issues, and competition from cheap Chinese imports, forcing it to delay plant closures while negotiating with unions and the government. The Beeshoek shutdown underscores deepening struggles in South Africa’s iron and steel sector, strained by rising costs and infrastructure constraints.

Kansanshi Expansion Powers First Quantum’s Q3 Growth Despite Modest Loss

First Quantum Minerals posted strong operational gains in Q3 2025, driven by rising copper and nickel production and the successful commissioning of the Kansanshi S3 Expansion in Zambia. The company produced 104,626 tonnes of copper, up 15% from the previous quarter, and 5,767 tonnes of nickel, up 44%, supported by improved performance at Kansanshi, Sentinel, and Enterprise mines. EBITDA reached $435 million, with a gross profit of $360 million, though the company reported a net loss of $48 million ($0.06 per share) and an adjusted loss of $16 million ($0.02 per share). Cash costs fell to $1.95/lb for copper, while Kansanshi achieved $1.34/lb as S3 contributed 6,136 tonnes of output. Capital expenditure totaled $280 million for the quarter and $833 million year-to-date. A $1 billion gold streaming deal with Royal Gold strengthened liquidity and extended debt maturities to 2029. Updated 2025 guidance includes 390,000–410,000 tonnes of copper, 140,000–150,000 ounces of gold, and 18,000–23,000 tonnes of nickel, alongside lower cash costs and reduced capex of $1.15–$1.25 billion. With Kansanshi’s expansion nearly complete and under budget, First Quantum expects stronger Q4 performance as Zambian operations ramp up and higher-grade ore drives continued growth.

CMOC to Expand Kisanfu Copper Mine with US$1.08 Billion Board Approval

Chinese mining major CMOC has received board approval for a US$1.08 billion expansion of its Kisanfu copper mine in the Democratic Republic of Congo (DRC), aiming to increase annual copper output by 100,000 tonnes within two years and begin operations in 2027. The project, part of CMOC’s “Project 95,” will enhance copper recovery at Kisanfu’s concentrators by an additional 30,000 tonnes per year. The move reinforces China’s deepening presence in the DRC’s mining sector, alongside investments by Zijin Mining and Jinchuan Group. The DRC, which exported 3.1 million tonnes of copper in 2024, a 13% year-on-year rise, continues to strengthen its role as Africa’s top copper producer and the world’s second-largest overall. With global copper demand projected to surge due to clean energy expansion and AI infrastructure, and the International Energy Agency forecasting a 40% supply gap by 2035, the Kisanfu expansion positions the DRC as a central player in the future of global copper supply and Africa’s growing energy transition economy.

Caledonia Mining Appoints July Ndlovu as Independent Director

Caledonia Mining (CMCL) has appointed July Ndlovu , former CEO of Thungela Resources, as an independent non-executive director, bringing nearly 30 years of mining leadership to the company’s board. Ndlovu previously led Thungela’s transformation into one of South Africa’s largest coal exporters following its 2021 spin-off from Anglo American and served as Executive Head of Process at Anglo American Platinum, overseeing major platinum group metal operations. He also chairs the Remuneration and Human Capital Committee at AECI and has chaired the boards of Unki Mine and Anglo American Zimbabwe. His appointment aligns with Caledonia’s strategy to expand its footprint in Zimbabwe and across Africa. Chairman John L. Kelly said Ndlovu’s extensive experience in scaling and modernizing mining operations will provide valuable guidance as the company pursues its next phase of sustainable growth and regional development.

Newcore Gold Expands High-Grade Gold Zones at Enchi Project in Ghana

Newcore Gold has announced strong new drill results from its 100%-owned Enchi Gold Project in southwestern Ghana, confirming both near-surface and deeper gold extensions at the Kwakyekrom deposit. The latest 24 reverse circulation holes, totaling 3,843 metres, intersected continuous gold mineralization beyond the current resource limits, with highlights including 1.08 g/t gold over 22 metres and 2.78 g/t over 7 metres from hole KKRC099, and 1.29 g/t over 15 metres from hole KKRC085A. All holes encountered gold, reflecting a 98.7% success rate and strong geological continuity across multiple sub-parallel structures. The drilling forms part of a 45,000-metre campaign, with 28,940 metres completed so far, expanding the project’s total resource to 743,500 ounces indicated and 972,000 ounces inferred. Situated on Ghana’s Bibiani Shear Zone, home to major deposits like Chirano and Bibiani, Enchi remains open along strike and at depth, with a Pre-Feasibility Study planned for the first half of 2026. CEO Luke Alexander said the results confirm significant upside potential as Newcore continues to grow and advance the project toward large-scale production.

Blue Gold Secures $140 Million to Restart Ghana’s Bogoso and Prestea Mines

Blue Gold Holdings Limited has raised a total of $140 million from institutional investors to restart the Bogoso and Prestea gold mines in Ghana, with the funds to be released once a lease dispute with the government is settled. The company added $65 million in new financing, and its shares rose 9.6%, valuing it at $194 million despite a 45% year-to-date decline. Blue Gold has offered to drop litigation if a swift resolution is achieved, following the 2024 revocation of its mining licenses over alleged unpaid wages. CEO Andrew Cavaghan said the investment demonstrates readiness to fully restore operations at the historic mines in Ghana’s Ashanti gold belt. The company also plans to tokenize its gold output through a digital, gold-backed currency developed by its new digital division, positioning Blue Gold at the intersection of traditional mining and blockchain innovation.

Mali Launches Bougouni Lithium Project, Strengthening Africa’s Role in Global EV Supply Chain

Mali’s President, General Assimi Goïta, has officially inaugurated the Bougouni lithium project, developed by Kodal Minerals plc (49%) and Hainan Mining (51%), marking a major milestone in Mali’s rise as a player in the global electric vehicle battery supply chain. Located 180 km south of Bamako, the mine began full operations on November 3, 2025, with the Malian government holding a 35% stake. Construction started in mid-2024 and was completed on time and under its US$65 million budget. The project has already produced over 45,000 tonnes of 5.5% spodumene concentrate, targeting 125,000 tonnes annually, with exports routed through Côte d’Ivoire’s Port of San Pedro to Hainan’s refinery in China. Employing 650 people, 95% of them Malian, the mine is a cornerstone of local job creation and industrial growth. A planned second phase aims to nearly double output, reinforcing lithium’s role as “Mali’s white gold” and positioning the country as a strategic supplier of clean energy minerals to global markets.

Montage Gold Expands Resources at Côte d’Ivoire’s Koné Project

Montage Gold has significantly increased gold resources at its Koné project in Côte d’Ivoire after an intensive drilling program. Indicated resources rose 13% to 5.49 million ounces and inferred resources surged 76% to 704,000 ounces, supported by new discoveries on the Gbongogo–Koroutou and Sissédougou trends. The project now projects a 16-year mine life, producing an average of 301,000 ounces of gold annually over the first eight years, with an after-tax NPV of $3.1 billion at $3,000 per ounce gold. Montage has drilled 87,595 metres of a planned 120,000 metres under its $18 million 2025 exploration budget, identifying 52 targets and nine deposits across a 1,318-sq.-km area. Construction is 50% complete with $428 million invested, keeping development on time and within budget. Shares rose 1.3% to C$6.84, valuing the company at C$2.5 billion ($1.8 billion). The expansion strengthens Côte d’Ivoire’s growing reputation as a top-tier gold mining hub in West Africa.

Europa Metals to Acquire Marula Africa, Expanding Battery Metals Portfolio Across Africa

Europa Metals Ltd has agreed to acquire Marula Africa Mining Holdings, giving it control over a portfolio of producing and near-producing battery metal assets across East and Southern Africa. The deal, structured as a reverse takeover under AIM rules, will see Europa issue nine new shares for every Marula Africa share, temporarily suspending trading until completion and readmission. Marula’s assets include the Blesberg lithium and tantalum mine in South Africa, the Kilifi manganese processing plant in Kenya, and the Kinusi copper mine in Tanzania, all of which are exporting ore. The acquisition also adds exploration projects targeting graphite, lithium, and rare earths critical for electric vehicles and energy storage. The transaction, expected to be cashflow positive, provides Europa immediate operational exposure and near-term revenue. Europa will help fund Marula’s transaction costs and may maintain a JSE-only listing post-merger. Led by Jason Brewer and Myles Campion, the combined company aims to create a diversified, Africa-focused mining group supplying essential minerals to the fast-growing clean energy and electric vehicle markets.

Barrick Reaffirms Commitment to Mali Amid Legal Dispute

Barrick Mining Corporation has restated its long-term commitment to Mali, assuring that its partnership with the country remains strong despite ongoing legal proceedings. The company emphasized that its case, currently before the International Centre for Settlement of Investment Disputes (ICSID), is based on international law and Mali’s Mining Conventions. Barrick also voiced concern for employees detained since November 2024 and said efforts to secure their release continue. Its Loulo-Gounkoto complex, employing about 8,000 workers, 97% of whom are Malian, has contributed nearly $10 billion to Mali’s economy through taxes, royalties, wages, and local procurement. The mine accounts for 5–10% of Mali’s GDP, with over 70% of total benefits remaining in-country. Barrick Gold Investments reaffirmed that its relationship with Mali is built on transparency, respect, and shared growth, describing its operations as a model of international partnership supporting both national development and local communities.

B2Gold’s Otjikoto Mine in Namibia Delivers Strong Q3 With 44,105 oz Gold Output

B2Gold Corp.'s Otjikoto Mine in Namibia delivered a strong Q3 2025 performance, producing 44,105 ounces of gold and generating N$2.67 billion (US$143 million) in revenue, up from N$2.49 billion a year earlier. The mine processed 873,000 tonnes at 1.59 g/t gold with a 98.6% recovery rate and achieved an average gold price of US$3,503/oz, offsetting higher operating costs of US$781/oz and AISC of US$1,089/oz. Capital expenditure reached US$4.4 million, mainly for Wolfshag underground development, with an additional US$2.2 million spent on exploration. Otjikoto remains on track to meet its 2025 target of 185,000–205,000 ounces, supported by underground mining and stockpiles. B2Gold also approved a US$105 million investment in the Antelope underground deposit, which will add 327,000 ounces over five years from 2028 to 2032, with ore grades averaging 6.91 g/t gold. The Antelope project ensures Otjikoto’s long-term future as Namibia’s leading gold producer, strengthening B2Gold’s sustainable growth strategy across Africa.

Vedanta Launches CopperTech Metals to Strengthen US Copper Supply via Zambia

Vedanta Group has launched CopperTech Metals Inc., a US-based company created to bolster America’s copper supply by operating Zambia’s Konkola Copper Mines (KCM), one of the world’s richest copper and cobalt assets. Building on Vedanta’s $3 billion investment and an additional $1.5 billion expansion plan, CopperTech aims to boost production from 140,000 tonnes in 2026 to 300,000 tonnes by 2031, with a long-term goal of 500,000 tonnes annually. Zambia’s state-owned ZCCM-IH retains a 20.6% stake, while the new company plans to integrate AI-driven mining and efficiency technologies. The venture seeks to link Zambia’s copper resources with US industrial and energy needs, addressing the nation’s 45% import dependency at a time when global copper demand is projected to rise 40% by 2040. Vedanta founder Anil Agarwal called the project a milestone in connecting US innovation with Zambia’s mining growth, marking a new phase in transatlantic resource collaboration for energy security and sustainable development.

Botswana and Angola Vie for Control of De Beers Amid Anglo American’s Exit

Botswana and Angola are competing to gain control of De Beers Group as Anglo American moves to sell its $3–5 billion diamond division. During a meeting in Gaborone, Botswana’s Mines Minister Bogolo Joy Kenewendo and Angola’s Diamantino Pedro Azevedo discussed collaboration and possible joint ownership, fueling speculation about a shared African-led takeover. Botswana already owns 15% of De Beers through Debswana, which provides about 70% of its rough diamonds, while Angola has recently surpassed Botswana as Africa’s top diamond producer by value for the first time in two decades. Angola first suggested a pan-African consortium but later pursued a solo majority bid, joining a crowded field that includes Indian firms, Qatari investors, billionaire Anil Agarwal, and former De Beers executives. The talks reflect growing efforts by African producers to reclaim greater control over their diamond resources, as Anglo American’s restructuring reshapes the global diamond industry and could redefine the future of one of its most iconic brands.

IAMGOLD’s Essakane Mine Shines in Q3 2025 Despite West African Challenges

IAMGOLD Corporation's Essakane Mine in Burkina Faso posted strong Q3 2025 results, producing 108,000 ounces of gold (92,000 ounces attributable) for a total of 255,000 ounces year-to-date, demonstrating solid performance despite fuel shortages and inflation. The mine processed 3.2 million tonnes of ore at an average grade of 1.16 g/t, achieving a 92% gold recovery rate, up 4% from last year. Quarterly revenue reached $370.3 million, with mine-site free cash flow doubling to $150.5 million, supported by an average realized gold price of $3,493/oz. All-in sustaining costs averaged $1,914/oz, reflecting higher royalties under Burkina Faso’s new 8% gold royalty regime for prices above $3,000/oz. IAMGOLD declared a record $855 million dividend from retained earnings, including $680 million attributable to the company, while repatriating $154 million to bolster liquidity. With 2025 production guidance set at 400,000–440,000 ounces and continued investment of $115 million in stripping, equipment, and efficiency, Essakane remains IAMGOLD’s cornerstone African asset, exemplifying operational strength and financial resilience amid regional instability.

Galiano Gold Lowers 2025 Output Forecast After Incident at Ghana Mine

Galiano Gold Inc. has reduced its 2025 production forecast for the Asanko Gold Mine in Ghana to 120,000–125,000 ounces, down from 130,000–150,000 ounces, following an operational disruption in September. The incident involved tensions between local communities and military personnel near a key deposit, causing temporary suspension and lower ore grades for longer than expected. Despite the setback, the mine produced 32,533 ounces of gold in Q3 2025, showing quarterly growth, while gold sales reached US$114 million, up 60.5% year over year. For the first nine months, output totaled 83,617 ounces and revenues climbed to US$288 million, a 73% increase from 2024. CEO Matt Badylak emphasized the company’s focus on resolving community issues and maintaining stable operations, noting that Asanko’s strong sales and recovery trends reflect its resilience despite temporary challenges.

Trigon Metals’ Kombat Copper Mine Sale to Deliver Up to US$42 Million

Trigon Metals has completed the sale of its Kombat Copper Mine in Namibia to Horizon for up to US$42 million (N$773 million), marking its exit from Namibia and refocusing on exploration in Morocco. The Namibian government has approved the deal, which includes an initial US$2 million loan advance, followed by US$24 million in staged payments starting in April 2026 and a potential US$13 million performance bonus, plus royalties of 1% on copper revenues when prices exceed US$4/lb. The sale clears all debts to Horizon, leaving Trigon debt-free with about US$2 million in cash. Horizon has already begun dewatering and refurbishing Kombat, aiming to boost local employment and investment. Trigon now turns its attention to Morocco’s 120 km² Adanna silver-lead-copper project, where drilling is set to begin soon along a 20 km vein system showing strong discovery potential. CEO Jed Richardson said the transaction provides financial independence and marks a new growth phase centered on exploration and resource expansion in Morocco.

De Beers Group Announces Executive Committee Changes as COO Retires

De Beers Group announced major leadership transitions as Chief Operating Officer Burger Greeff prepares to retire at the end of 2025 after 30 years with the company. Kevin Smith, currently Executive Vice President of Corporate Affairs & Strategy, will assume the role of Interim COO on December 1, 2025, while Eirik Wærness, Senior Vice President and Chief Economist, will become Acting Executive Vice President of Corporate Affairs & Strategy. Burger, who joined De Beers in 1993, contributed extensively to technical innovation, marine operations, and sustainability. Kevin, with nearly three decades at De Beers and Anglo American, played a key role in shaping the Upstream Origins strategy and organizational redesign, while Eirik, who joined from Equinor in 2025, will now oversee communications, government affairs, strategy, and market analysis. CEO Al Cook commended Burger’s integrity and long-standing leadership, expressing confidence in the new appointees as De Beers strengthens its strategic transformation and global partnerships.

The Democratic Republic of Congo Halts Chinese Mining Operations After Toxic Spill

The Democratic Republic of Congo has suspended operations at a Chinese-operated mining site in Lubumbashi after a toxic spill contaminated nearby communities. The mine, run by Congo Dongfang International Mining (CDM), a subsidiary of Zhejiang Huayou Cobalt Co.,Ltd, was found to have breached environmental standards, endangering public health. Mines Minister Louis WATUM KABAMBA announced the three-month suspension following a site inspection, with possible extensions pending investigation. CDM is required to repair the environmental damage, compensate affected residents, and continue paying staff during the halt. The incident polluted local water sources and disrupted several neighborhoods. As a major copper and cobalt producer, CDM plays a key role in Congo’s mining sector, which supplies over 70% of the world’s cobalt. The government’s action highlights its increasing emphasis on environmental responsibility and stricter enforcement of mining regulations amid rapid industry growth.