Africa Mining News of Week 47, 2025
Dear Africa Mining Community,
Welcome to this week’s edition of the Africa Mining Newsletter, your concise and reliable roundup of the latest developments shaping Africa’s mining and critical minerals landscape.
Week 47 has been rich in activity across the continent and beyond, from major gold and uranium milestones to rare earth expansions, governance reforms, high-grade discoveries, project financing progress, and important updates in safety, policy and corporate strategy.
In this edition, you’ll find: major resource upgrades in West Africa, significant project financing moves in Ethiopia and Uganda, a historic mine opening in South Africa, Kenya’s largest gold discovery in decades, Zambia’s regulatory overhaul, and evolving corporate strategies from some of the world’s biggest mining companies, and much more.
As always, our goal is to keep you informed, inspired, and connected to the fast-moving story of Africa’s mining sector.
Enjoy this week’s insights,
Team AFMICO
Africa Mining News of Week 47, 2025
Langer Heinrich Drives Paladin’s Revenue Growth in Q3 2025
The Langer Heinrich Uranium Mine generated 35.9 million dollars in sales for the quarter ended 30 September 2025, accounting for all of Paladin’s revenue as improved efficiency and lower operating costs raised gross profit to 7.9 million dollars, while net loss after tax narrowed to 9.9 million dollars and inventories increased to 144 million dollars as production builds toward steady state, supported by a 300 million Australian dollar equity raise for growth in Namibia and Canada, with Namibian assets making up 41 percent of group holdings and a maintained debt facility providing an extra 50 million dollars in undrawn credit, as the mine which restarted in early 2025 is expected to reach full operating capacity in 2026.
Kenya Unveils US$5.29 Billion Gold Discovery, Its Largest in Decades
Kenya announced a major 5.29 billion dollar gold discovery at the Isulu Bushiangala project in Kakamega County, with Shanta Gold Limited confirming a 1.27 million ounce resource and plans for a large scale underground mine using Long Hole Open Stoping, supported by a 1,500 ton per day plant, a 12 MW power station and a tailings facility, with construction expected to cost between Sh22 billion and Sh27 billion and deliver at least eight years of mine life along with strong revenues from royalties and community funds, as Kenya which produced only 410 kilograms of gold in 2023 emerges as an attractive investment destination ranked sixth in Africa while the project promises jobs and local development with commitments to environmental standards and fair resettlement.
Deadly Collapse at Congo’s Kalando Copper Mine
A bridge collapsed at the semi industrial Kalando copper mine in Lualaba province, causing panic reportedly triggered by gunfire from military personnel, leading miners to rush onto the structure which resulted in between 30 and 49 deaths and around 20 critical injuries, with human rights groups calling for an independent investigation, the military yet to comment, and authorities confirming at least 32 deaths, highlighting the dangerous conditions and weak safety standards in Congo’s artisanal mining sector which employs millions across the country.
Endeavour Mining Reports Robust Q3 as Cash Flow Strengthens to $680 Million
Endeavour Mining reported a strong third quarter with year to date production reaching 911koz at an AISC of 1,362 dollars per ounce and free cash flow rising to 680 million dollars, supported by Q3 production of 264koz and adjusted EBITDA of 1.63 billion dollars which is more than double last year, while adjusted net earnings climbed to 556 million dollars, debt was reduced by 425 million dollars and shareholder returns totaled 233 million dollars through dividends and buybacks, as the company advances the Assafou project with an environmental permit approved and a DFS scheduled for Q1 2026 along with 72 million dollars invested in exploration, keeping Endeavour on track to meet full year guidance with a stronger balance sheet and focus on high margins and free cash flow.
KEFI Advances Toward Construction at Ethiopia’s Tulu Kapi Gold Project
KEFI Gold and Copper is preparing to start construction of the Tulu Kapi gold project in Ethiopia by late 2025 after its project syndicate approved the full 340 million dollar development plan with 240 million dollars in debt secured and equity proposals exceeding the remaining 100 million dollars, as the company finalises financing, brings in Ethiopian public and private investors, plans a future stock exchange listing for its local subsidiary and begins early works such as community housing and plant infrastructure, supported by a Memorandum of Intent signed by authorities, lenders and stakeholders while KEFI also considers using local capital to accelerate long term plans including underground mining, regional exploration and community programmes, positioning Tulu Kapi to become Ethiopia’s next producing gold mine.
Aurum Delivers Exceptional 70.78 g/t Gold Intercept at Côte d’Ivoire’s Boundiali Project
Aurum Resources reported a major drilling success at the Boundiali Gold Project in Côte d’Ivoire with a 3.10 metre intercept grading 70.78 grams per tonne gold from 112.90 metres, located outside the current 2.41 million ounce resource and supported by additional high grade results such as 5.10 metres at 43.13 g/t, while mineralisation remains open and drilling capacity has increased to 12 diamond rigs targeting 130,000 metres across Boundiali and Napié in 2025, ahead of major resource updates and a Pre Feasibility Study due in early Q1 2026, backed by a strong funding position of about 45 million dollars as Managing Director Dr. Caigen Wang emphasizes expanding activity and pending assays.
Thor Explorations Delivers Higher Q3 2025 Production and Stronger Financial Performance
Thor Explorations Ltd posted a strong third quarter with gold sales of 19,650 ounces at an average price of 3,535 dollars per ounce, generating 69.9 million dollars in revenue and 43.1 million dollars in net profit, supported by 22,617 ounces poured at a recovery rate of 94.3 percent, while mine life extension drilling continued and ore stockpiles increased to 44,069 ounces, giving more processing flexibility, as adjusted net cash rose to 81 million dollars and exploration advanced across the portfolio, with 2025 production guidance narrowed to 90,000 to 95,000 ounces and AISC maintained at 900 to 1,000 dollars per ounce, reflecting strong Segilola performance and a solid outlook for the rest of the year.
PhosCo Extends KM Discovery With Thick New Phosphate Intersections
PhosCo Ltd reported strong new drilling results from the KM prospect at the Gasaat Phosphate Project, including thick intercepts of 39 metres, 37 metres and 18 metres that show grades similar to earlier KM hits, with the zone expected to improve project economics due to its lower strip ratio and closeness to the planned plant site, as the company prepares its maiden KM Resource for early next year which is expected to outperform the current 146 million ton Gasaat JORC Resource, while Managing Director Taz Aldaoud notes that drilling has extended mineralisation with thicker, higher grade zones and lower overburden, and the updated Scoping Study will include both KM and SAB resources with KM likely to be the starter resource.
Blencowe Nears Completion of Feasibility for Uganda’s Orom-Cross Graphite Project
Blencowe Resources is close to finalizing the definitive feasibility study for the Orom Cross graphite project in Uganda, which includes downstream graphite purification to raise project value, while financing talks with strategic and institutional partners progress in parallel, with the project holding an estimated 2 to 3 billion tons of graphite essential for lithium ion batteries, aiming for first production in 2026 and benefiting from low costs and existing infrastructure across its 520,000 hectare tenements accessed by a 28 kilometer gravel road, as CEO Mike Ralston highlights growing partner interest as the project enters a pivotal phase expected to establish Orom Cross as a major African graphite source once the finance ready study is complete.
Rome Resources Secures £1.9m to Advance Drilling at Bisie North in the DRC
Rome Resources Ltd raised 1.9 million pounds through an upsized placing at 0.2p per share to fund mobilisation and new drilling at the Bisie North project in the DRC, targeting deeper tin zones at Kalayi and the eastern zone at Mont Agoma following a maiden Mineral Resource Estimate that confirmed strong high grade tin potential, with CEO Paul Barrett noting solid technical foundations as drilling is set to run for 3 to 4 months with several deep holes planned and helicopters and crews preparing to mobilise.
Resolute Boosts La Debo Resource by 60 Percent, Strengthening Côte d’Ivoire Growth Pipeline
Resolute Mining Limited announced an initial 643,000 ounce mineral resource at the La Debo Project in Côte d’Ivoire, a 60 percent increase driven by high grade discoveries at the G3S prospect, with further drilling planned to expand G3S and test new southern zones, supported by two new permits at Serihio and Okroyou that will see exploration begin in 2026, while another resource update is possible in late 2026 as part of a wider portfolio that includes over 7 million ounces across three Ivorian assets, including the advanced Doropo project with a feasibility study due December 2025 and construction planned for 2026 aiming for first gold in 2028, as well as the ABC Project with 2.2 million ounces undergoing a large drilling program, all contributing to Resolute’s strong exploration momentum and regional growth plans.
Barrick Mining Weighs Major Split Into Two Global Entities
Barrick Mining Corporation is considering splitting into a North America focused division and another managing assets across Africa and Asia as investors seek clearer value and lower geopolitical risk, with options including selling African operations and Pakistan’s Reko Diq after financing, while challenges such as a dispute in Mali must be resolved, and although the company has not commented, a split would undo the 2019 Randgold merger and divest assets acquired under former CEO Mark Bristow, as analysts upgrade Barrick’s outlook due to a stronger North America focus centered on the high value Nevada Fourmile project, with shares rising 3 percent despite long term returns lagging peers due to risks in Africa, Papua New Guinea and Pakistan including a 1 billion dollar write off at Mali’s Loulo Gounkoto, while an independent North American unit could become one of the world’s largest gold mining companies.
Pensana Targets Over One Billion Tonnes at Longonjo Rare Earths Project
Pensana Plc is launching an 11 million dollar drilling and metallurgical program in early 2026 to expand the Longonjo resource in Angola to over one billion tonnes, supported by 25,000 metres of drilling aimed at extending the near surface rare earth oxide blanket from about 30 metres depth to more than 100 metres, along with testwork to refine mine planning as mineralisation shows strong depth extensions, while rising global rare earth demand and China’s widening processing capacity at Bayan Obo increase the strategic value of Longonjo which benefits from rail, hydropower and port access along the Lobito Corridor and will supply feedstock for US partner eVAC to produce 2,000 tonnes of advanced magnets by 2029 as part of an integrated Angola to United States supply chain that appeals to buyers looking to diversify away from China.
Fortuna Doubles Indicated Gold Resources at Séguéla, Paving Way for Major Expansion
Fortuna Mining has doubled indicated gold resources at the Séguéla mine in Côte d’Ivoire, lifting proven and probable reserves to 1.2 million ounces at 2.81 grams per tonne and extending mine life to 7.5 years, while measured and indicated resources excluding reserves reached 794,000 ounces and inferred resources rose to 712,000 ounces, prompting aggressive infill drilling and studies to expand processing capacity from the current 1.25 million tonnes to as much as 2 to 2.5 million tonnes per year, with plans to reach 1.75 million tonnes by 2026 through low cost upgrades, supported by exploration success at Kingfisher which contributes 257,000 ounces to reserves for the first time, strong gold prices that pushed shares up 82 percent this year and ongoing programs through 2026 to unlock further growth.
Zambia Overhauls Ministry of Mines to Boost Efficiency and Oversight
Zambia has created the independent Minerals Regulation Commission to restructure its Ministry of Mines and Minerals Development, giving the new body authority over mining rights, safety, health and environmental regulation while integrating the Mine Safety and Cadastre Departments, adding specialised divisions for artisanal and small scale mining and for large scale mining and investment promotion, keeping the Geological Survey Department within the Ministry and decentralizing services through regional offices as part of a broader effort to strengthen governance, improve regulation and support sustainable growth in the mining sector.
Ivanhoe Mines Celebrates the Opening of Platreef Mine, Boosting South Africa’s Critical Minerals Future
Ivanhoe Mines and President Cyril Ramaphosa officially opened the Platreef Mine in Mokopane on 18 November 2025, showcasing one of the world’s largest precious metal and major nickel sulphide deposits with over 150 million ounces of platinum, palladium, rhodium and gold in indicated and inferred resources and an unusually thick flat ore body that enables efficient mechanized mining, as the ceremony highlighted decades of investment, strong international partnerships and the mine’s role in South Africa’s critical mineral and energy transition strategy, with Phase 1 already producing concentrate and targeting over 100,000 ounces of PGMs annually, Phase 2 aiming for around 450,000 ounces plus significant nickel and copper output, a possible Phase 3 exceeding 1 million ounces per year and sustainability supported by the Masodi Wastewater Treatment Works that provides recycled water, marking a major step for modern responsible mining and national development.
Ghana Discards VAT on Mineral Exploration to Boost Investment
Ghana has removed the 15 percent VAT on mineral exploration to cut upfront drilling and assay costs, improve competitiveness and attract new greenfield projects after years of industry concerns that the tax discouraged investment, as part of wider VAT and mining sector reforms aimed at promoting responsible mining, strengthening oversight and reducing unregulated prospecting, supported by strong small scale and large scale gold export figures, a 2025 output target of about 144.5 tonnes, an ongoing sector audit and support from the Chamber of Mines, with mining already contributing over one third of national export revenues.