Africa Mining News of Week 46, 2025
Dear Africa Mining Community,
Welcome to this week’s edition of the Africa Mining Community (AFMICO) Newsletter; your roundup of the most important mining and exploration developments shaping Africa’s resource landscape.
Over the past week, Africa’s mining sector has seen major project advancements, fresh investment commitments, and significant policy reforms across copper, gold, iron ore, lithium, cobalt, uranium, and industrial metals. From landmark expansions in Zambia and Morocco to breakthrough progress in Guinea, the DRC, Ghana, and beyond, the continent continues to strengthen its position at the centre of global critical mineral supply chains.
Below, you’ll find concise, insight-driven summaries of the top stories that are driving conversations across the mining world, helping you stay informed, competitive, and connected.
Enjoy this week’s insights,
Team AFMICO
Africa Mining News of Week 46, 2025
Vedanta to Invest US$1.5 Billion in Zambia to Boost Copper Output
Vedanta Group Resources will invest US$1.5 billion through its new subsidiary, CopperTech Metals Inc., to expand Zambia’s Konkola Copper Mine, aiming to raise production to 300,000 tons annually by 2031 in support of Zambia’s goal of 3 million tons of national output. This investment joins over US$3 billion already committed to Zambia’s copper sector by major players like Barrick Mining and China’s JCHX, reflecting global demand for copper used in renewable energy, electric vehicles, and AI technologies. The International Energy Agency warns of a 30 percent copper shortage by 2035, making Vedanta’s expansion vital to supply growth. With expected output of 140,000 tons by 2026, Vedanta plans to use modern, sustainable technologies under CopperTech to improve efficiency and environmental standards. As Zambia nears 1 million tons of copper production this year, these developments strengthen its position as Africa’s leading copper hub and a key player in the global energy transition.
Red Rock Mining Fast-Tracks Copper Project in Morocco’s Ouarzazate Region
Red Rock Mining is accelerating the development of its Idelsane copper project in Morocco’s Ouarzazate region after promising drill results revealed around 1 million tonnes of resources with 1% copper grade, now being verified by SLR Consulting under JORC and NI 43-101 standards. The company aims to expand exploration to identify over 10 million tonnes of potential resources and has launched a US$12 million funding round to build a modern processing plant and increase operations through its new subsidiary, Idelsane Mining SA. With a strong focus on sustainability, RRM is prioritizing local employment, responsible water and waste management, and community development as part of its ESG strategy. The project’s progress marks a significant boost for Morocco’s mining sector and its contribution to the global energy transition, positioning the country as a growing and responsible copper producer driven by innovation and environmental care.
Mercuria Eyes Congo’s Coltan as US Pushes for Peace and Investment
Mercuria Energy Group and TechMet Ltd., a US-backed critical minerals company, are in talks to jointly develop a large-scale tantalum project in Rubaya, eastern DRC, pending peace between Congo and Rwanda. The project targets modernization of coltan mining in one of the world’s richest tantalum deposits, currently held by state-owned SAKIMA but inaccessible due to M23 rebel control. Supported by investors like the US International Development Finance Corporation and Qatar Investment Authority, TechMet brings strong financing and credibility, while Mercuria expands from energy trading into critical minerals. The initiative aligns with US efforts to reduce reliance on Chinese supply chains and strengthen partnerships with the DRC in key resources like copper, cobalt, and lithium. As the DRC and Rwanda produce nearly 60% of global tantalum, peace in the region could unlock industrial-scale, transparent production, boost Congo’s economy, formalize artisanal mining, and strengthen its role in supplying critical minerals for the global clean energy and tech sectors.
AngloGold’s Record Cash Flow Fueled by Strong African Operations
AngloGold Ashanti recorded a record $920 million in free cash flow in Q3 2025, up 141 percent from last year, driven mainly by outstanding performances at its Obuasi mine in Ghana (AngloGold Ashanti Ghana) and Geita mine in Tanzania (AngloGold Ashanti Tanzania). Obuasi achieved a 23 percent increase in recovered grade, boosting productivity and profitability, while overall production rose 17 percent to 768,000 ounces amid strong gold prices averaging $3,490 per ounce. In Tanzania, AngloGold is expanding Geita’s resource base by 60 percent and adding a new 1-million-tonne-per-year mill to lift output to 600,000 ounces annually. The company also declared a $0.91 per share interim dividend, reflecting strong investor returns. These results highlight Africa’s central role in AngloGold’s success and underscore the continent’s growing influence in global gold mining, supported by reinvestment, efficiency, and exploration that promise sustained growth for both AngloGold and regional economies.
Kibali Gold Mine’s Q3 Output Surges 21% to 191,000 Ounces
Kibali Gold Mine, the largest gold operation in the DRC, increased its Q3 2025 production by 21% to 191,000 ounces, up from 159,000 ounces last year, driven mainly by a 133% rise in open-pit ore output that offset lower underground production. Year-to-date output reached 498,000 ounces, keeping the mine on track to achieve its full-year target of 688,000–755,000 ounces. If this momentum continues, Kibali could once again become Africa’s top gold producer, competing closely with Ghana’s Ahafo mine, which is expected to produce about 670,000 ounces in 2025. This strong performance highlights Barrick Mining Corporation's operational strength in Africa and reflects growing confidence in the DRC’s mining sector. Sustained production increases could boost the country’s export revenue, create jobs, and attract more foreign investment, further cementing Central Africa’s role in global gold mining.
Allied Gold Delivers Steady Q3 Results, Poised for Strong Year-End Surge
Allied Gold Corporation reported stable Q3 2025 results with 87,020 ounces of gold produced and 92,099 ounces sold, meeting targets and lowering its All-in Sustaining Costs to $2,092 per ounce through operational improvements and better grade control. Strong year-end performance is expected, driven by higher-grade ore processing and mine expansions in Mali and Côte d’Ivoire. The Sadiola Mine’s Phase 1 expansion in Mali is on track for completion in December and projected to lift production by up to 40% in Q4, while the Bonikro and Agbaou mines in Côte d’Ivoire are also set for a similar production boost. With enhanced drilling, new equipment, and strengthened local management, Allied aims to exceed 375,000 ounces of annual output and maintain 375,000–400,000 ounces per year going forward. These efforts, combined with cost efficiency and disciplined mine sequencing, position the company for sustained profitability and long-term growth into 2025.
Operations Begin at Guinea’s Giant Simandou Iron Ore Project
Guinea has officially launched operations at the massive Simandou iron ore project, Africa’s largest integrated mine and infrastructure development, marking a major step toward becoming a top global iron ore exporter. Located in southeastern Guinea, Simandou contains the world’s largest known high-grade untapped iron ore deposit. The project’s launch ceremony at Forécariah port gathered Guinea’s President and partners including Winning Consortium Simandou, Baowu Special Steel Co., Ltd. , Chinalco Luoyang Copper Processing Co., Ltd, and Rio Tinto. With over 600 kilometers of new railway and port facilities, the system will enable exports of up to 120 million tonnes of premium iron ore annually, managed by Compagnie du TransGuineen, a joint venture between the government and its partners. The project is set to create thousands of jobs, strengthen Guinea’s economy, and support low-carbon steel production worldwide. Beyond mining, Simandou symbolizes Guinea’s rise as a major industrial player and highlights Africa’s growing influence in global mineral supply chains through sustainable, large-scale resource development.
Guinea to Accelerate Alumina and Iron Ore Processing to Boost Local Industry
Guinea is fast-tracking the construction of alumina refineries and iron ore processing plants to reduce reliance on raw exports and strengthen its industrial base. The country’s first alumina refinery, built with China’s SPIC, is underway and due for completion by 2027, with further agreements advancing with Chinalco, Alteo, CBG, and Alcoa. By 2030, Guinea plans to operate five to six refineries producing up to 7 million metric tons of alumina annually. The government also revoked Emirates Global Aluminium’s bauxite concession for failing to meet local refining commitments, underscoring its push for in-country processing. Meanwhile, Rio Tinto and Winning Consortium Simandou are conducting studies for a steel or iron pellet plant to support green steel production linked to the Simandou mine. To power these industries, Guinea is investing in hydropower, solar, and LNG projects, including a US-backed import plan. These initiatives aim to create thousands of jobs, increase exports, and make Guinea a leading West African hub for mineral processing and sustainable industrial growth.
Congo Launches Era of Traceable Artisanal Cobalt with First 1,000 Tons
The Democratic Republic of Congo has produced its first 1,000 tons of fully traceable artisanal cobalt, showing progress in formalizing the artisanal mining sector. Congo controls most of the world’s cobalt reserves and production, and artisanal mining supports millions of people, but untracked material increases supply chain risks and raises costs for verified ethical cobalt. The government introduced export quotas in October to reduce oversupply, encourage local processing, and support higher prices for traceable cobalt. State-owned EGC announced the milestone in Kolwezi, saying its traceability system meets international ESG standards and aims to expand production and refining to capture more of the artisanal market. Global cobalt demand is set to grow by about 40 percent by 2030 due to electric vehicles and energy storage, and major automakers and electronics companies now require proof of ethical sourcing, making Congo’s move an important step in strengthening its role in the global cobalt supply chain.
Deep Yellow Appoints New MD to Lead Namibian Operations
Deep Yellow Limited has appointed experienced mining executive Zebra Kasete as Managing Director of its Namibian operations, starting January 5, to lead the construction and future operations of the Tumas uranium project and act as the company’s country head in Swakopmund. Kasete brings more than 35 years of experience across uranium, diamonds, copper and gold, previously served as Executive VP at the Sinomine Tsumeb Smelter, led Murowa Diamond in Zimbabwe, and spent 25 years at Rio Tinto in senior roles across several countries. He holds an MBA from the University of Maastricht and will focus on building the team and preparing the Tumas greenfield uranium project for its final investment decision, which could make it Namibia’s fourth uranium mine. Kasete said he is pleased to return to Namibia’s uranium sector and looks forward to guiding a project that will support both Deep Yellow’s growth and the country’s mining industry.
Ghana Abolishes VAT on Minerals Exploration to Attract Fresh Investment
Ghana has removed its 15 percent value added tax on minerals exploration and reconnaissance to boost investor confidence and revive greenfield mining activity. The change targets early-stage costs like drilling and assays, aims to improve Ghana’s competitiveness in the region, and is part of wider VAT reforms presented in the 2026 budget. The government wants to promote responsible mining, reduce unregulated prospecting, and support a sector that already provides more than one third of national export revenue. Recent reforms have strengthened oversight of artisanal mining, helped small scale gold exports reach record levels, and tightened export controls. Industry players welcome the VAT removal, saying it removes a major barrier to exploration. The reform is expected to stimulate long term exploration pipelines, attract more investment, and enhance Ghana’s efforts to increase earnings from its mining sector, where major operators include Newmont Corporation, AngloGold Ashanti, GOLD FIELDS, Perseus Mining Limited, Zijin Mining Group and Cardinal Namdini Mining Ltd. (A Shandong Gold Company).
Zimbabwe’s Spodumene Exports Surge 27% Despite Weak Lithium Prices
Zimbabwe’s spodumene concentrate exports rose 27 percent in the first nine months of the year, reaching 1 million metric tons, although export revenue fell 11 percent to 386.9 million dollars due to a global slump in lithium prices. Spot prices for lithium carbonate have dropped sharply from early 2023 peaks, but production in Zimbabwe continues to grow, mainly driven by major Chinese companies such as Zhejiang Huayou Cobalt Co.,Ltd, Sinomine Tsumeb Smelter, Chengxin Lithium, Yahua Lithium and tsingshan holding group, which have invested more than 1.4 billion dollars since 2021. The country plans to ban lithium concentrate exports from 2027 to encourage local processing, supported by new plants including Huayou’s 400-million-dollar facility that will produce 50,000 tons of lithium sulphate next year and Sinomine’s planned 500-million-dollar plant at Bikita. Despite lower prices reducing export value, Zimbabwe’s rising production and large downstream investments show strong progress toward local beneficiation and a more influential role in the global lithium supply chain.
Lucara Posts 51.2m Dollars Revenue as Karowe Underground Project Reaches Key Milestones
Lucara Diamond reported 51.2 million dollars in third quarter revenue and continued to make strong progress on the Karowe underground expansion, including reaching the bottom of the production shaft, which is a major step toward future underground mining. The company sold 101,422 carats, recovered notable stones including a 1,015 carat non gem diamond and a 37.42 carat near gem pink Type IIa diamond, and recorded its ninth diamond over 1,000 carats from Karowe. Operating margins rose to 57 percent due to higher revenue and lower costs, and the underground project saw 22.7 million dollars spent on shaft sinking, station work and infrastructure while maintaining strong safety performance with a TRIFR of 1.37. Diamond sales came from the HB agreement, tenders and the Clara platform, while the market remains cautious with demand strongest for premium large stones. The underground project is on schedule, with first ore expected in 2027 and full scale production in early 2028, supporting long term value creation and strengthening Karowe’s position as a dependable source of high value diamonds.
Ethiopia Moves Ahead With 1 Billion Dollars Aluminum Smelter Agreement
Ethiopia has advanced plans to grow its industrial metals sector after Ethiopian Investment Holdings signed a preliminary deal with UC RUSAL to develop a large scale aluminum smelter with a planned annual capacity of 500,000 metric tons. The first phase of the project is expected to cost about 1 billion dollars, with completion targeted in three to four years and an operating lifespan of 50 years. Early work such as site selection and feasibility studies has already begun. This agreement adds to a series of major foreign investments in Ethiopia, including recent fertilizer and nuclear power projects, and reflects the country’s broader push to attract large scale industrial investors and strengthen its long term manufacturing and energy infrastructure.
Lifezone Secures 15m Dollars to Accelerate Tanzania’s Kabanga Nickel Project
Lifezone Metals has raised 15 million dollars through a direct share offering to support development and exploration at the Kabanga nickel project in Tanzania, building on a recent 60 million dollar loan as the company moves toward a final investment decision expected by mid 2026. A revised feasibility study outlines potential production of 902,000 tons of nickel over 18 years, with total project investment estimated at 942 million dollars, and Lifezone is also working to acquire BHP’s stake to gain full control. The fundraising comes during a global nickel downturn, with prices down around 60 percent since 2022, but Lifezone sees Kabanga as a key long term asset for the energy transition, while Tanzania holds a 16 percent stake through a joint venture. Despite low prices, the company continues to pursue permits and financing to bring one of Africa’s most promising nickel deposits into production.
Oriole Resources Raises 1.8m Pounds to Boost Gold Exploration in Cameroon
Oriole Resources PLC has raised 1.8 million pounds through a placing of 750 million new shares to fund exploration across its gold projects in Cameroon during the 2025 and 2026 field seasons, with an additional retail offer aiming to bring in up to 200,000 pounds. The funding will support step out drilling at MBO1 S on the Mbe licence, soil sampling on the Eastern CLP licences and technical studies at Bibemi. The company says its financial position has strengthened following an agreement with BCM, and its 2025 programme aims to convert an Exploration Target of 370,000 to 605,000 ounces into JORC Resources. Plans for 2026 include major step out drilling at MBO1 S, where mineralisation remains open in all directions. Oriole expects the new funding to drive resource growth and boost market valuation across its Cameroon gold portfolio.