Africa Mining News of Week 4, 2026

Dear Africa Mining Community,

Welcome to Week 4 of 2026 and our weekly roundup of the key stories shaping Africa’s mining and exploration landscape.

This week’s edition brings together a wide spectrum of developments, from critical safety incidents and regulatory shifts, to major project milestones, market pressures in diamonds, and renewed global competition for Africa’s strategic minerals. We also highlight notable discoveries, production rebounds, investment decisions, and policy moves that continue to redefine the balance between governments, miners, and international partners across the continent.

As always, our aim is to provide you with clear, concise insights that help you stay informed, see the bigger picture, and understand where Africa’s mining sector is heading.

Enjoy this week’s insights,

Team AFMICO

Africa Mining News of Week 4, 2026

Second Fatality Confirmed by Perseus After Ivory Coast Mine Accident

Perseus Mining confirmed a second death after a serious workplace accident near its Bagoe gold mine in Côte d’Ivoire, where two employees of contractor company Binkadi were injured, with the second worker dying in hospital days later after the first fatality was reported last Thursday, the company said the incident is under full investigation and it is working closely with Ivorian authorities, as the accident occurs during a period of regulatory change in the country’s mining sector, including the recent introduction of an 8% flat gold royalty that has prompted discussions between miners and the government.

Botswana’s Diamond Stockpile Grows as Global Prices Stay Weak

Botswana is under economic pressure as weak global diamond prices push its national diamond stockpile to about 12 million carats, nearly double the government target, which limits any short term increase in production and keeps growth strained as demand falls and lab grown diamonds gain market share, the economy is expected to shrink by nearly 1% in 2025 after a 3% drop the year before, state miner Debswana, which supplies about 90% of diamond sales, suspended some production in 2024 and produced 18 million carats for the year, diamonds make up about one third of government revenue and three quarters of foreign exchange earnings, new tariffs including 15% in the US and higher duties in markets like India add more pressure, and mineral revenues are forecast far below historical averages, raising risks for public finances unless non mining sectors perform better.

Historic 41.82-Carat Blue Diamond Unearthed at South Africa’s Cullinan Mine

A 41.82-carat natural blue diamond has been recovered from South Africa’s Cullinan Mine and announced by Petra Diamonds, making it one of the rarest gemstone discoveries in the world, early reviews show exceptional color and clarity, the rough stone has a unique shape similar to the African continent, its final value, cut, and polished size are still unknown, and the discovery strengthens the Cullinan Mine’s historic reputation while highlighting its continued importance to the global diamond industry and the local community.

South32 boosts manganese output as cyclone recovery pays off

South32 reported a strong rebound in manganese production in the December quarter, with output rising 16.7% year on year to 1.3 million wet metric tons as Australian operations returned to normal after disruptions from Tropical Cyclone Megan, with Australian manganese production up 26% and the recovery plan now complete, while South Africa manganese output increased 4% year on year but fell from the previous quarter due to planned maintenance with more maintenance planned for March, alumina production was 1.3 million tons from Australia and Brazil and was flat year on year, Brazilian alumina output rose 2% as the refinery ran above capacity, alumina contributed nearly 70% of pre tax profit in fiscal 2025, and production guidance for fiscal 2026 remains unchanged across all assets.

Montage Fast-Tracks First Gold at Koné Project in Côte d’Ivoire

Montage Gold has moved up first gold production at its Koné project in Côte d’Ivoire by six months to Q4 this year due to faster construction, with the project staying on budget as 63 percent of the $545 million capital is already committed, shares rising 12 percent to a record high and valuing the company at about $4.1 billion, and the mine expected to produce around 300,000 ounces of gold per year, supported by more than 3,000 workers on site, major infrastructure largely completed, power and substation work on schedule, a fully occupied resettlement village, total indicated and inferred resources of over 6.1 million ounces, an updated resource estimate due in Q1, a $16 million exploration program planned, and a feasibility study showing a 16 year mine life with an after tax NPV of $3.1 billion at $3,000 per ounce gold.

D.R. Congo Opens Door to US Investment in Critical Minerals

The Democratic Republic of Congo has given the United States a vetted list of mining and processing projects open to American investors, aiming to turn recent talks into real action and reduce US dependence on China for critical minerals, the list shared last week includes projects for copper, cobalt, lithium, manganese, gold, and other strategic minerals, many linked to state companies like Gecamines and Cominiere, the move follows a December 4 minerals agreement that gives US firms preferred access to Congo’s resources, Congo is the world’s second largest copper producer and top cobalt supplier, these minerals are key for electric vehicles, defense, electronics, and clean energy, US analysts see this as a shift in metals policy while Congo hopes US investment will reduce China’s control of about 80 percent of its mining sector, the deal is also tied to a wider US-backed peace effort in the region despite ongoing security challenges.

KEFI Confirms Financial Close Progress at Tulu Kapi Gold Project

KEFI reported strong progress at its Tulu Kapi Gold Project in Ethiopia, confirming that all key debt documents for the US$240 million senior loan are signed and equity funding is moving forward, with a US$100 million equity package advancing, US$30 million in subordinated streams and royalties and US$20 million in Ethiopian Preference Shares nearing completion, and the full funding package on track for February 2026, while additional non dilutive funding options of up to US$36 million are being considered, a US$20 million placement completed in December 2025 finished the equity needed for project launch, community resettlement compensation has begun, land clearing for new housing is underway, the plant construction contractor has mobilised and started procurement, electricity transmission works have started at Ghimbi to connect to Tulu Kapi, and overall project activities are progressing alongside plans to time debt drawdown later in the year to reduce costs, supported by strong gold prices and solid economic growth in Ethiopia.

Mali Centralizes Power Over Its Gold Mining Sector

Mali’s president has created a new ministerial-level role that reports directly to the presidency to take control of the gold mining sector, the country’s main source of revenue, shifting key powers from the mines ministry to strengthen oversight, policy enforcement, and compliance. The role is led by Hilaire Bebian Diarra, a former Barrick Mining executive who previously advised the presidency during disputes over the Loulo-Gounkoto gold complex. Under the new structure, the presidency oversees permits and major contracts, the finance ministry manages fiscal issues, and the mines ministry focuses on regulation. Changes linked to the 2023 mining code helped recover 761 billion CFA francs in arrears, but stricter rules also contributed to a 23 percent drop in industrial gold output in 2025, highlighting Mali’s push for stronger state control even as international miners face growing uncertainty.

Resolute Mining plans $190m investment for Doropo gold project

Resolute Mining plans to invest between $170 million and $190 million in 2026 to move forward with the Doropo gold project in Côte d’Ivoire, focusing on early construction as it works toward a final investment decision in mid 2026, subject to mining permit approval, after acquiring the project from AngloGold Ashanti in May 2025, with funds expected to cover earthworks, a construction camp, and mining equipment, while total project capital is estimated at $516 million, production is expected to average about 170,000 ounces of gold per year over a 13 year mine life, construction is planned through 2027 with first gold in the first half of 2028, and supported by strong gold prices, over $320 million in cash, and access to financing, Doropo is set to become a key growth asset that helps Resolute lift total group output above 500,000 ounces by 2028 and supports Côte d’Ivoire’s goal to expand national gold production.

Valterra Platinum profits set to surge on platinum price rally

Valterra Platinum in South Africa expects full year profit to more than double as higher platinum group metal prices and strong cost cuts drive a major turnaround, with headline earnings forecast between 15.6 billion rand and 17.3 billion rand for the year ended December 31, up as much as 106 percent from last year, supported by a 26 percent rise in the metal basket price, operational cost reductions of 5 billion rand, and despite absorbing one off demerger costs of 1.7 billion rand, while platinum prices hit a record $2,684.43 per ounce and are up 27 percent year to date due to strong demand from catalytic converters, increased investment flows, and tight global supply, with the company, now demerged from Anglo American, set to release full 2025 results on February 25 as markets react to European Union policy changes and supply constraints.

Editor: Vural Burç ÇAKIR