Miningmx
Independent news/analysis on the African mining sector.
Uncertainty Clouds Jubilee’s Copper Ambitions
Jubilee Metals posted strong interim numbers driven by its Roan processing plant, which delivered 1,246 t of copper and pushed revenue up 70 % to $14.1 million, but the business remains dominated by low‑margin third‑party feedstock. The company’s 72 % stake in the Molefe mine and a planned Sable refinery expansion aim to shift earnings toward higher‑margin, resource‑backed copper, yet seasonal rains, diesel and sulphuric‑acid supply risks, and a low Molefe valuation keep investors cautious. A recent South African asset sale added $25 million cash with up to $65 million (≈$56 million) pending, strengthening the balance sheet. Until Molefe proves mining‑grade margins, Jubilee is likely to be viewed as a speculative developer rather than a mid‑tier integrated miner.
SA Platinum Exports Surge but Miners Face War Inflation
South Africa’s platinum‑group‑metal (PGM) exports jumped 13% in the first two months of 2026, driven by strong demand in China and Europe, according to UBS. At the same time, the ongoing Middle‑East conflict is raising diesel prices, adding roughly 80...
US Minerals Deal Helps Congo Raise $1.25bn in Maiden Bond
The Democratic Republic of Congo completed its inaugural sovereign Eurobond, raising $1.25 bn. The issue comprised $600 m of 2032 notes at an 8.75% yield and $650 m of 2037 notes at 9.50%, with order books reaching $2 bn and $2.8 bn respectively, allowing tighter...
Tin Surge Helps Alphamin to Record Earnings but Fuel Hike Looms
Alphamin posted record earnings for the March quarter, driven by a 30% quarter‑on‑quarter rise in tin prices that lifted EBITDA 48% to $158 million and generated $128 million of cash. All‑in sustaining costs climbed 7% to $17,968 per ton due to higher...
Iron Ore Slips on Signs of BHP-China Thaw
Iron ore prices fell to a one‑month low after Bloomberg reported that BHP’s incoming CEO, Brandon Craig, visited Beijing. The visit sparked speculation that the long‑running pricing dispute between BHP and China Mineral Resources Group (CMRG) may be easing. Futures...
AngloGold, Gold Fields Make Ground on North American Rivals
North America’s three biggest gold miners—Newmont, Agnico Eagle and Barrick—reported lower output in 2025 and project further declines in 2026, while rivals such as China’s Zijin, AngloGold Ashanti and Uzbekistan’s NMMC posted production gains. The gap reflects divergent strategies: North...
Zambia Copper Rail Link to Cost up to $5bn
A new 830‑kilometre railway will connect Zambia’s copper belt to Angola’s deep‑water port of Lobito, with construction slated to start this year and finish by 2030. The project’s cost is estimated between $3 billion and $5 billion, covering tracks, stations and rolling...
Ghana Picks E&P to Run Damang Gold Mine
Ghana’s Minerals Commission has awarded the Damang gold mine to local services firm Engineers & Planners Ltd (E&P) after a competitive tender. The decision follows the government’s refusal to extend Gold Fields’ lease, opening a potential $1 billion asset revival. E&P...
Eskom Granted Two More Days to Land High Stakes Power Deal
Glencore-Merafe Chrome Venture has agreed to extend Eskom’s deadline for a new five‑year power tariff to 9 April 2026, marking the fifth postponement of the deal. The proposed tariff of 62 cents per kilowatt‑hour, a steep discount from an earlier 87 cents, is intended...
Kenya Opens Bidding for Prized Rare Earths Deposit
Kenya has opened a competitive tender for the Mrima Hill rare‑earths and niobium deposit, seeking bids from US, Chinese and Australian firms. More than ten companies have already signaled interest, and the government insists any award must include in‑country processing....
CATL Taps Zijin Mining Founder as Mining Advisor
China's CATL, the world’s largest EV battery maker, has hired Chen Jinghe, the founder and former chairman of Zijin Mining, as an advisor to its mining division. Chen, who grew Zijin into a $120 billion mining group, stepped down last year...
Kenmare’s Year of Prices, Politics and Pain
Kenmare Resources is locked in a dispute with the Mozambican government over a new fiscal deal for its Moma mineral sands mine. The tax authority imposed a 2.5% royalty and stripped the mine’s free‑zone status, eliminating $25‑40 million in annual tax...
Secretive Eskom Gets Walloped in Court by AfriForum
South Africa’s Supreme Court of Appeal upheld a high‑court order compelling state utility Eskom to disclose all coal and diesel supply contracts after a four‑year legal battle by civil‑rights group AfriForum. The court rejected Eskom’s blanket claim that the agreements...
Exxaro Concludes 9.3mt Coal Sale with Eskom
Exxaro Resources signed a long‑term agreement with South Africa's power utility Eskom to supply 9.3 million tonnes of coal each year to the Matla power station. The coal will come from Exxaro's Matla Colliery, which recently completed a R5.2 bn (≈ $275 m) expansion...
Gold Fields in $740m Fight with Ghana President’s Brother
Gold Fields is embroiled in a $740 million legal dispute with its contractor E&P, which is owned by Ghana President John Mahama’s brother. E&P has filed two claims—$474.9 million over the Tarkwa mine and $264.7 million over the Damang asset—as Gold Fields seeks...
