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10 December 2025
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Dec 10, 2025Africa Mining Market
BHP Group Ltd. has agreed a US$2 billion infrastructure deal with Global Infrastructure Partners (GIP), part of BlackRock, to help fund the inland power network that supports its vast Western Australia Iron Ore (WAIO) operations.
WAIO, in which BHP owns 85%, is made up of four joint ventures across the Pilbara. Under the agreement, a new trust will be created with BHP holding a 51% controlling stake.
GIP will contribute US$2 billion for the remaining 49%. In return, BHP will pay a tariff over 25 years linked to its share of power use across WAIO.
Crucially, the miner retains full operational control of both WAIO and the power infrastructure.
The arrangement does not alter existing joint venture terms, state agreements or asset ownership. BHP said WAIO will continue to focus on lifting production to 305 million tonnes a year through targeted investment while keeping options open for further growth.
The company said proceeds from the deal will be assessed under its capital allocation framework, which prioritises balance sheet strength and disciplined investment.
Completion is expected by the end of financial year 2026, subject to regulatory approvals, including sign-off from Australia’s Foreign Investment Review Board.
Mike Henry, BHP’s chief executive, said the partnership gives the business access to capital “while maintaining operational and strategic control of a critical part of WAIO’s infrastructure”.
Chief financial officer Vandita Pant said the structure enhances financial flexibility and supports long-term value creation.
GIP, an infrastructure specialist, manages around US$189 billion across energy, transport, digital and utilities assets.
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Bhp Agrees Us$2 Billion Infrastructure Deal With Global…BHP Group Ltd. has agreed a US$2 billion infrastructure deal with Global Infrastructure Partners (GIP), part of BlackRock, to help fund the inland power network that supports its vast Western Australia Iron Ore (WAIO) operations.
WAIO, in which BHP owns 85%, is made up of four joint ventures across the Pilbara. Under the agreement, a new trust will be created with BHP holding a 51% controlling stake.
GIP will contribute US$2 billion for the remaining 49%. In return, BHP will pay a tariff over 25 years linked to its share of power use across WAIO.
Crucially, the miner retains full operational control of both WAIO and the power infrastructure.
The arrangement does not alter existing joint venture terms, state agreements or asset ownership. BHP said WAIO will continue to focus on lifting production to 305 million tonnes a year through targeted investment while keeping options open for further growth.
The company said proceeds from the deal will be assessed under its capital allocation framework, which prioritises balance sheet strength and disciplined investment.
Completion is expected by the end of financial year 2026, subject to regulatory approvals, including sign-off from Australia’s Foreign Investment Review Board.
Mike Henry, BHP’s chief executive, said the partnership gives the business access to capital “while maintaining operational and strategic control of a critical part of WAIO’s infrastructure”.
Chief financial officer Vandita Pant said the structure enhances financial flexibility and supports long-term value creation.
GIP, an infrastructure specialist, manages around US$189 billion across energy, transport, digital and utilities assets.
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10 December 20252 min readBhp Agrees Us$2 Billion Infrastructure Deal With Global…
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10 December 2025
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Afdb Commits Us$1.78 Billion To Support Namibia’S Economic…The African Development Bank Group’s Board of Directors has approved a Country Strategy Paper (CSP) for Namibia committing US$1.78 billion to support economic transformation and inclusive growth in the 2025-2030 period.
The financing is expected to pave the way job for creation and economic diversification while also addressing key challenges facing of the world’s most unequal countries: youth unemployment exceeds 40%, and per capita income has fallen from US$5,942 in 2012 to US$4,240 in 2024.
“This strategy marks a pivotal moment for Namibia’s development,” said Moono Mupotola, the Bank Group’s Deputy Director General for Southern Africa and Country Manager for Namibia. “By focusing on strategic infrastructure and human capital development, we are laying the foundation for inclusive growth that will benefit all Namibians, particularly the young.”
The strategy focuses on two priorities. The first is investment in transport, energy, and water infrastructure to reduce business costs, enhance productivity, and establish Namibia as a regional logistics hub. These investments will strengthen trade facilitation under the African Continental Free Trade Area, enhance energy security through renewables, and expand rural access to clean water and sanitation.
The second priority aims to boost human capital through market-relevant technical and vocational training that creates pathways from education to employment, providing support for the development of micro, small, and medium enterprises (MSMEs), and advancing women’s economic empowerment.
Implementation is expected to diversify the economy beyond mining and agriculture, integrate MSMEs into regional value chains, and enhance manufacturing capabilities while creating thousands of direct and indirect jobs.
Infrastructure improvements will increase electricity access from 59.5% towards universal coverage, enhance trade connectivity with Angola and Zambia, and reduce logistics costs. The strategy also supports Namibia’s climate commitments and positions the country as a leader in green hydrogen.
“Recent U.S. tariff impositions and official development assistance cuts have created additional pressures on Namibia’s economy,” said Mupotola. “Our strategy strengthens resilience by diversifying export markets, enhancing regional integration, and building domestic productive capacities.”
The strategy builds on the Bank’s decade-long track record in Namibia, where it has invested US$658.1 million in projects including the expansion of Walvis Bay Port, railway upgrades, and 27 educational institutions across all 14 regions.
The Namibia CSP aligns with the Bank Group’s Four Cardinal Points, Namibia’s Vision 2030, and Africa’s Agenda 2063. Implementation begins immediately, with the first operations expected in early 2026.
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05 December 20253 min readAfdb Commits Us$1.78 Billion To Support Namibia’S Economic…
Africa Mining Market
05 December 2025
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Mali Recovers Us$1.2 Billion In Arrears From MinersMali has recovered 761 billion CFA francs (US$1.2 billion) in arrears from mining companies following a sweeping audit, its finance minister said, marking one of the country’s biggest clawbacks from its extractive sector.
The military-led government launched an audit of Mali’s mining sector in early 2023 that uncovered massive shortfalls for the state and paved the way for a new mining code.
That new mining law raised royalties, boosted state stakes in mining companies and scrapped stability clauses.
A recovery commission was set up after an audit by firms Inventus and Mozar flagged financial irregularities and shortfalls for the state estimated at 300 to 600 billion CFA francs.
The overhaul of the industry triggered a two-year dispute with Canadian miner Barrick Mining, Mali’s top gold producer, before a deal was struck in November.
Economy and Finance Minister Alousséni Sanou did not say if the recovered sum included Barrick’s recent 244 billion CFA francs deal.
Other operators, including B2Gold, Allied Gold, Resolute Mining, Endeavour Mining, and lithium players like Ganfeng and Kodal settled their arrears and migrated to the new regime earlier.
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03 December 20252 min readMali Recovers Us$1.2 Billion In Arrears From Miners
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03 December 2025
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Aussie Gold’S $15 Billion OutputAustralia’s gold sector continues to shine, producing 76 tonnes in the September quarter 2025 and is valued at around $15.5 billion at current prices.
Gold prices ranged from $US3299 to $US3827 per ounce during the quarter, with Australian dollar equivalents between $5035 and $5824 per ounce.
Prices climbed further in October and November, briefly dipped, then partially recovered, now sitting around $US4273 ($6502) per ounce.
“The Australian gold mining industry is in the best shape I have seen since the price of gold was free floated in 1971,” Surbiton Associates director and gold expert Sandra Close said. “Most producers are achieving excellent margins and the junior companies seem to have no problem in raising further funds for exploration or development.”
“Exploration expenditure is high, particularly on drilling, with new gold discoveries, both brownfields and greenfields, being announced almost every day. This augurs well for gold production in coming years.”
Gold’s strong performance is underpinned by global factors including rising US federal debt, ongoing geopolitical tensions, and sustained demand from central banks in Poland, China, Turkey, Kazakhstan, and India. Flows into exchange traded funds remain strong, further supporting prices.
On costs, Close said the use of all-in sustaining costs (AISC) is a better measure than many others for calculating the cost of production but it is still an imperfect measure.
“While it takes account of the various costs, such as energy, labour and consumables, it does not recognise any changes in the grade of ore being treated,” she said.
Close said head grades have been slowly falling over time and that in response there has been an increase in AISCs due to this factor alone.
“In reality, it has become economic to process lower grade material as gold prices have risen,” Close said. ”Head grades have declined, so the AISC per ounce produced has increased but this effect seems yet to be understood or appreciated.”
Top Australian producers for the quarter included Newmont’s Boddington and Cadia, Northern Star’s Super Pit, AngloGold Ashanti and Regis Resources’ Tropicana, and Newmont’s Tanami, showcasing the country’s consistent and high-quality output.
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03 December 20252 min readAussie Gold’S $15 Billion Output
Australian Mining
03 December 2025
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Kaduna State In Nigeria Launches Us$150 Million Green Mining Investment Fund At G20 Summit, Mandates Core International To Secure Q1 2026 DeploymentOn the sidelines of the historic G20 Summit, the first ever held in Africa, the Kaduna State Government in Nigeria formalised a landmark Memorandum of Understanding (MOU) with international advisory firm Core International.
The agreement tasks Core International and the Kaduna Mining Development Company (KMDC) with an aggressive mandate: to finalise the Fund’s structure and secure anchor capital, enabling it to be fully operational and ready to deploy by the end of Q1 2026. The Fund addresses the most significant hurdle in African and Nigerian mining: the scarcity of early-stage, risk-tolerant funding. The Fund is explicitly private sector-driven, designed to co-finance drilling and initial project preparation for minerals essential to the global energy transition, specifically Lithium, Rare Earth Elements (REEs), and Gold found within the State. Kaduna State sits atop the highly prospective Nigerian Basement Complex, featuring the mineral-rich Schist Belt with proven, commercial quantities of the aforementioned minerals.
The Fund will co-invest with potential partners to reduce investor risk significantly, providing the anchor capital necessary to transition a raw prospect into a bankable resource. The decision to sign the MOU in Johannesburg strategically links Kaduna’s resource ambition to the G20’s agenda on clean energy transition and sustainable development in the Global South, positioning our state as a secure and critical node in the global mineral supply chain.
“This Fund is the mechanism that transitions Kaduna from having potential to realising value,” stated KMDC Managing Director, Engr. Shuaibu Kabir Bello, “The KMDC has been tasked by H.E. Governor Uba Sani to build a modern, transparent mining sector. Our commitment of anchor capital through the Fund tells the world we are not just seeking investors; we are strategic partners who have done the groundwork, provided the data, and are ready to share the exploration risk. This is the new investment standard for Nigeria.”
“Suleiman Zakari, Managing Partner of Core International,” stated, “signing this agreement in Johannesburg, where the world’s largest economies are focused on securing critical mineral supply chains, is a clear statement. Our role is to construct a Fund that meets global standards, guaranteeing that the State’s anchor capital, alongside that of private co-investors, is deployed transparently and effectively to de-risk exploration assets. This is a secure bridge for global capital into Kaduna.”
The Fund’s launch finalises H.E. Governor Uba Sani’s comprehensive State Exploration Acceleration Programme. The State is not simply seeking investment; it is presenting a fully de-risked and integrated investment ecosystem. By providing the data, infrastructure, and now a co-financing vehicle, Kaduna is positioned as the most exploration-ready and investment-attractive jurisdiction in Nigeria.
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27 November 20253 min readKaduna State In Nigeria Launches Us$150 Million Green Mining Investment Fund At G20 Summit, Mandates Core International To Secure Q1 2026 Deployment
Africa Mining Market
27 November 2025
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Kaduna State In Nigeria Launches Us$150 Million Green Mining Investment Fund At G20 Summit,…On the sidelines of the historic G20 Summit, the first ever held in Africa, the Kaduna State Government in Nigeria formalised a landmark Memorandum of Understanding (MOU) with international advisory firm Core International.
The agreement tasks Core International and the Kaduna Mining Development Company (KMDC) with an aggressive mandate: to finalise the Fund’s structure and secure anchor capital, enabling it to be fully operational and ready to deploy by the end of Q1 2026. The Fund addresses the most significant hurdle in African and Nigerian mining: the scarcity of early-stage, risk-tolerant funding. The Fund is explicitly private sector-driven, designed to co-finance drilling and initial project preparation for minerals essential to the global energy transition, specifically Lithium, Rare Earth Elements (REEs), and Gold found within the State. Kaduna State sits atop the highly prospective Nigerian Basement Complex, featuring the mineral-rich Schist Belt with proven, commercial quantities of the aforementioned minerals.
The Fund will co-invest with potential partners to reduce investor risk significantly, providing the anchor capital necessary to transition a raw prospect into a bankable resource. The decision to sign the MOU in Johannesburg strategically links Kaduna’s resource ambition to the G20’s agenda on clean energy transition and sustainable development in the Global South, positioning our state as a secure and critical node in the global mineral supply chain.
“This Fund is the mechanism that transitions Kaduna from having potential to realising value,” stated KMDC Managing Director, Engr. Shuaibu Kabir Bello, “The KMDC has been tasked by H.E. Governor Uba Sani to build a modern, transparent mining sector. Our commitment of anchor capital through the Fund tells the world we are not just seeking investors; we are strategic partners who have done the groundwork, provided the data, and are ready to share the exploration risk. This is the new investment standard for Nigeria.”
“Suleiman Zakari, Managing Partner of Core International,” stated, “signing this agreement in Johannesburg, where the world’s largest economies are focused on securing critical mineral supply chains, is a clear statement. Our role is to construct a Fund that meets global standards, guaranteeing that the State’s anchor capital, alongside that of private co-investors, is deployed transparently and effectively to de-risk exploration assets. This is a secure bridge for global capital into Kaduna.”
The Fund’s launch finalises H.E. Governor Uba Sani’s comprehensive State Exploration Acceleration Programme. The State is not simply seeking investment; it is presenting a fully de-risked and integrated investment ecosystem. By providing the data, infrastructure, and now a co-financing vehicle, Kaduna is positioned as the most exploration-ready and investment-attractive jurisdiction in Nigeria.
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27 November 20253 min readKaduna State In Nigeria Launches Us$150 Million Green Mining Investment Fund At G20 Summit,…
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27 November 2025
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Harmony Advances $2.3 Billion Queensland Copper ProjectHarmony Gold Mining has announced the completion of feasibility studies and the approval of a final investment decision for its Eva copper project in northwest Queensland.
Located in Conclurry, near Mount Isa, the 100 per cent-owned project is expected to produce around 65,000 tonnes of copper concentrate per year for the first five years of operation.
The project has an expected production average of 60,000 tonnes and 19,000 ounces of gold thereafter.
This will be achieved, Harmony said, through the processing of 18 million tonnes of ore per year for the 15-year mine life currently estimated with all-in-sustaining cost (ASIC) deemed “attractive” at $US2.50 per pound.
Project capital for the site is said to sit at an estimated $2.3 billion–$2.6 billion, according to reports, with around $40,000 made per tonne of copper produced, reinforcing the project’s “capital efficiency”.
“The Eva Copper Feasibility Study delivers a strong, high-confidence outcome that positions Harmony for the next phase of growth as we continue building a high-quality, low-cost portfolio,” Harmony chief executive officer Beyers Nel said.
“Over the past three years, we have received strong support from the Queensland Government and key stakeholders as we systematically de-risked this project, driving resource and reserve expansion at exceptionally low discovery costs and unlocking further upside potential.”
The project’s two million tonne copper resource is said to provide a strong foundation for continued resource growth and value enhancement with the potential to extend the already-established life-of-mine beyond 15 years.
With financial approval now in place, construction is expected to take up to 30 months to complete with first production earmarked for the second half of 2028.
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26 November 20252 min readHarmony Advances $2.3 Billion Queensland Copper Project
Australian Mining
26 November 2025
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Bhp’S Billion-Dollar Pilbara PlanBHP is reaffirming its long-term commitment to the Pilbara, with Western Australia Iron Ore (WAIO) asset president Tim Day announcing more than $1 billion in new investment for Port Hedland at the 2025 Hedland Economic Forum.
Day said BHP’s plans include the delivery of a sixth car dumper at Nelson Point, which will support sustained production of more than 305 million tonnes a year over the medium term.
“We’re investing more than $1 billion to deliver a sixth car dumper at Nelson Point,” Day said. “This will enable at least five car dumpers to run around 90 per cent of the time. It’ll generate some massive opportunities to create jobs and drive the economy here in Hedland too.”
He said the project reflects BHP’s broader focus on “writing the next big chapter” for the region through collaboration between miners, government, traditional owners, businesses and the community.
“The Pilbara is the engine room of Australia,” he said. “We need to focus on how we can unlock new projects and growth opportunities, improve liveability through better housing, healthcare and education, and create more opportunities for local industry to thrive.”
Day said local partnerships remain crucial, noting that last year BHP spent more than $730 million with nearly 300 Western Australian businesses, including $50 million through its Local Buying Program.
BHP is also collaborating with the WA Government and Core Innovation Hub to deliver the Made in the Pilbara grants program, which aims to help local businesses innovate and grow.
Decarbonisation remains a key focus for the miner. Day outlined BHP’s progress in trialling battery-electric haul trucks at the Jimblebar mine and preparing for the arrival of Australia’s first battery-electric locomotives in Port Hedland next month through its partnership with Wabtec.
“Replacing diesel isn’t just a fuel switch; it’s a transformation in how we operate, power our sites and train our people,” he said. “Electrifying our fleet isn’t just about lower emissions, it’s about smarter logistics, safer operations and a more resilient future.”
Day said BHP’s collaboration with Rio Tinto, Caterpillar and Komatsu on trialling battery-electric haul trucks in the Pilbara.
“Port Hedland isn’t just a gateway,” he said. “It’s a launchpad for the future of our industry.”
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14 November 20252 min readBhp’S Billion-Dollar Pilbara Plan
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14 November 2025
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Vedanta To Invest Us$1.5 Billion In Zambia To Increase Copper ProductionVedanta Resources announced on November 6 the creation of CopperTech Metals Inc., a new subsidiary responsible for operating its Konkola copper mine in Zambia. As part of this restructuring, the company said it will invest an additional US$1.5 billion to increase production to 300,000 tons by 2031. The move aligns with the broader wave of growth investments in Zambia’s copper industry in recent years.
Zambia aims to raise national copper output to 3 million tons by 2031, up from 821,670 tons in 2024. Several mining companies have announced expansion projects to support this goal. Canada’s Barrick Mining plans to double output at its Lumwana mine through a US$2 billion investment, while China’s JCHX intends to inject US$300 million to extend the life of its Lubambe mine.
At Konkola, Vedanta’s planned US$1.5 billion will add to the US$3 billion already invested in recent years. These investments are intended to boost production capacity and support Zambia’s long-term growth strategy at a time when global copper demand is rising due to the energy transition and the expansion of the artificial intelligence sector.
According to the International Energy Agency (IEA), the copper supply deficit could reach 30% by 2035. Combined with recent supply chain disruptions, these trends position new and expanded mines as key contributors to future global supply, provided the announced investments materialise.
Vedanta has not yet detailed how it plans to finance the new Konkola investment, even as it works to reduce debt and strengthen its balance sheet. For now, the company expects 140,000 tons of copper output from Konkola in its 2026 fiscal year. Nationally, Zambia targets 1 million tons of production this year.
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11 November 20252 min readVedanta To Invest Us$1.5 Billion In Zambia To Increase Copper Production
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11 November 2025
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Vedanta To Invest Us$1.5 Billion In Zambia To…Vedanta Resources announced on November 6 the creation of CopperTech Metals Inc., a new subsidiary responsible for operating its Konkola copper mine in Zambia. As part of this restructuring, the company said it will invest an additional US$1.5 billion to increase production to 300,000 tons by 2031. The move aligns with the broader wave of growth investments in Zambia’s copper industry in recent years.
Zambia aims to raise national copper output to 3 million tons by 2031, up from 821,670 tons in 2024. Several mining companies have announced expansion projects to support this goal. Canada’s Barrick Mining plans to double output at its Lumwana mine through a US$2 billion investment, while China’s JCHX intends to inject US$300 million to extend the life of its Lubambe mine.
At Konkola, Vedanta’s planned US$1.5 billion will add to the US$3 billion already invested in recent years. These investments are intended to boost production capacity and support Zambia’s long-term growth strategy at a time when global copper demand is rising due to the energy transition and the expansion of the artificial intelligence sector.
According to the International Energy Agency (IEA), the copper supply deficit could reach 30% by 2035. Combined with recent supply chain disruptions, these trends position new and expanded mines as key contributors to future global supply, provided the announced investments materialise.
Vedanta has not yet detailed how it plans to finance the new Konkola investment, even as it works to reduce debt and strengthen its balance sheet. For now, the company expects 140,000 tons of copper output from Konkola in its 2026 fiscal year. Nationally, Zambia targets 1 million tons of production this year.
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11 November 20252 min readVedanta To Invest Us$1.5 Billion In Zambia To…
Africa Mining Market
11 November 2025
mining
Vedanta To Invest Us$1.5 Billion In Zambia To Increase Copper…Vedanta Resources announced on November 6 the creation of CopperTech Metals Inc., a new subsidiary responsible for operating its Konkola copper mine in Zambia. As part of this restructuring, the company said it will invest an additional US$1.5 billion to increase production to 300,000 tons by 2031. The move aligns with the broader wave of growth investments in Zambia’s copper industry in recent years.
Zambia aims to raise national copper output to 3 million tons by 2031, up from 821,670 tons in 2024. Several mining companies have announced expansion projects to support this goal. Canada’s Barrick Mining plans to double output at its Lumwana mine through a US$2 billion investment, while China’s JCHX intends to inject US$300 million to extend the life of its Lubambe mine.
At Konkola, Vedanta’s planned US$1.5 billion will add to the US$3 billion already invested in recent years. These investments are intended to boost production capacity and support Zambia’s long-term growth strategy at a time when global copper demand is rising due to the energy transition and the expansion of the artificial intelligence sector.
According to the International Energy Agency (IEA), the copper supply deficit could reach 30% by 2035. Combined with recent supply chain disruptions, these trends position new and expanded mines as key contributors to future global supply, provided the announced investments materialise.
Vedanta has not yet detailed how it plans to finance the new Konkola investment, even as it works to reduce debt and strengthen its balance sheet. For now, the company expects 140,000 tons of copper output from Konkola in its 2026 fiscal year. Nationally, Zambia targets 1 million tons of production this year.
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11 November 20252 min readVedanta To Invest Us$1.5 Billion In Zambia To Increase Copper…
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11 November 2025
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Cmoc To Expand Kisanfu Copper Mine With A Us$1.08 Billion Board ApprovalThe Democratic Republic of Congo (DRC), Africa’s top copper producer and the world’s second-largest, increasingly attracts attention amid announced shortages for the metal. The country hosts new projects likely to strengthen its production in the coming years.
On 24th October 2025, the Chinese group CMOC announced it secured board approval to develop the expansion project for its Kisanfu copper mine in the DRC. This initiative, costing US$1.08 billion, aims to increase the asset’s annual production by an average of 100,000 tonnes. This project forms part of a series of new Chinese ventures poised to reinforce Congolese copper output.
CMOC projects a two-year timeline for implementing the project, with commissioning expected in 2027. Once finalised, the expansion must increase Kisanfu’s processing capacity, which currently delivers more than 150,000 tonnes of copper annually, according to the company’s official website. The expansion announcement follows a similar optimisation project already underway at Kamoa-Kakula, another copper mine 39.6% controlled by China’s Zijin Mining.
Dubbed “Project 95,” this initiative seeks to boost copper recovery rates at the asset’s concentrators 1 and 2, generating up to 30,000 additional tonnes annually. The overall initiative aims for Kamoa-Kakula to reach an annual production of 600,000 tonnes (compared to 437,061 tonnes delivered in 2024).
In parallel, JinChuan Group, another Chinese entity active at the Ruashi and Kinsenda mines, prepares the launch of its third copper mine in the DRC. This involves the Musonoi project, with a production capacity of 38,000 tonnes per year, expected to be finalised in the second quarter of 2026. Collectively, these projects illustrate the consistently significant influence of Chinese players in the Central African country’s growing copper industry.
The DRC, the world’s second-largest producer since 2023, exported 3.1 million tonnes of copper in 2024. This result represents a 13% increase, driven by the strong performance of Kamoa-Kakula and CMOC operations.
These projects align with a favorable market context for copper, with demand expected to rise due to the energy transition and the boom in artificial intelligence. The International Energy Agency (IEA) states that the supply from current mining projects will prove insufficient to meet demand in the coming years. The institution indicates that the copper supply deficit could reach 40% by 2035.
Companies can potentially capture this market share by developing new production sources or reinforcing existing assets. This observation holds particular significance for the DRC, considering China currently represents the primary importer of its copper.
For the Central African nation, the realisation of these Chinese projects could consolidate its place among the world’s principal copper production hubs, provided existing sites remain stable. The projects could also generate higher mining revenues for the state. Kinshasa controls 20% of Kamoa-Kakula and 25% of Musonoi’s capital via the state-owned company Gécamines.
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31 October 20253 min readCmoc To Expand Kisanfu Copper Mine With A Us$1.08 Billion Board Approval
Africa Mining Market
31 October 2025
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