Barrick Mining has finally reached a binding settlement with the Government of Mali, ending a two-year dispute over the Loulo-Gounkoto gold complex. The settlement totals 244 billion CFA francs About US$430 million.
As part of the agreement:
- Barrick will withdraw its ICSID arbitration case.
- Barrick will regain full operational control of the mine.
- Mali will drop all legal charges against Barrick and affiliates.
- Four detained Barrick employees will be released.
- Barrick secured renewal of the Loulo mine permit for 10 years, governed under Mali’s 2023 mining code.
Ivanhoe Mines completed the ramp-up of a 178-MW turbine at the Inga II hydropower plant, with initial power now flowing to its Kamoa-Kakula mine in the DRC. The company also confirmed the initial commissioning of Turbine 5, delivering 50 MW to support underground copper expansion, strengthening energy security for one of Africa’s largest high-grade copper operations.
Mergers With Regulatory Headwinds
The proposed merger between Teck Resources and Anglo American gained support from proxy advisers ahead of a December shareholder vote. However, the Canadian government initiated a national-security review, injecting non-market risk into a consolidation deal otherwise poised to change the global metals landscape.
Asset Sales & Strategic Investments
Barrick has completed the sale of its Canadian Hemlo gold mine to Carcetti Capital (soon to be renamed Hemlo Mining Corp.) in a deal valued at up to US$1.09 billion comprising roughly US$875 million in cash, US$50 million in shares and up to US$165 million in gold-price-linked contingent payments starting 2027. The transaction marks Barrick’s exit from producing operations in Canada and underscores its strategy to free up capital and concentrate on higher-margin gold and copper projects globally.
In South Africa, Metals One committed US$1.8 million toward a gold roasting plant venture, reinforcing momentum behind local mineral processing and downstream metals recovery infrastructure. The investment supports expanded thermal pre-treatment capacity, higher gold liberation rates during processing, and progress toward greater in-country metals recovery, reflecting continued industry momentum behind South Africa’s mineral beneficiation and processing infrastructure build-out.
Harmony Gold’s approval of the Eva Copper project shows renewed confidence in copper economics, driven by high expected concentrates, low operating cost forecasts, strong NPV, and global copper deficit expectations. It positions Harmony as a multi-jurisdiction copper developer, pursuing high-tonnage, high-grade, and long-life copper seams that can compete in global pricing cycles.
In Angola, Pensana confirmed the feasibility scope to produce higher-value mixed rare-earth carbonate (MREC) at the Longonjo rare-earth project. This product strategy increases basket relevance to wind turbines, EV motors, solar coils, robotics sensors, and clean-tech hardware magnets requiring neodymium, praseodymium, dysprosium, and terbium units, linking Longonjo directly into future energy-demand supply pipelines.
Safety, 5G & Blasting Innovation
MineSafe 2025, industry leaders emphasized a sector-wide mandate to eliminate fatalities using human-centred systems and technology-led safety redesign.
Nokia and Boldyn Networks deployed a private 5G network in a Finnish test mine, now supporting live SSR broadcast control, ultra-low latency communication, and integration of sensor-to-surface control loops. It is enabling remote underground vehicle operation, equipment diagnostics, automated LHD loaders, drill rigs, explosives placement verification, battery fleet control, and surface-managed autonomous trucking. Finnish test data is also feeding global standards for AI-based mine automation, mine-mapping accuracy, geotechnical hazard prediction, and tunnel risk avoidance systems.
BME and Hypex Bio expand into the SADC market with the world’s first commercial high-performance emulsion (HPE) explosives, engineered for safer, higher-energy blasting without generating NOx fumes, cutting both environmental impact and ventilation risk while lowering operational costs.
Epiroc launched the Minetruck MT33 underground haul truck, designed in collaboration with mining clients and promoted under the banner of “safety engineered into every detail,” The truck builds on the architecture of the proven MT436B, integrating braking, cabin protection, operator visibility, footprint geometry, and load stability into real-world tunnel constraints
Sandvik also released the QA452e mobile screening solution, a grid-flexible screening system that switches between diesel and electric power to reduce fuel burn and lower mine-site operating costs. Engineered for modular mobility across mine pits and material separation loops, the solution strengthens energy efficiency and supports reliable, high-volume screening for aggregate and concentrate workflows, a key advantage for mining environments moving toward electrified infrastructure and lower long-term running costs.
AI-Led Exploration & Critical Minerals Funding
Botswana Diamonds secured four new prospecting licences spanning 2,644 km², after an AI mineral-targeting programme identified high-potential diamond and mineral zones near the Jwaneng mine, signaling the growing impact of machine learning in licence acquisition and early-stage exploration success.
In Ghana Atlantic Lithium advances the Ewoyaa project, the country’s first lithium mine being developed under an earn-in agreement with Piedmont Lithium. Lease delays remain active, but new funding secured from Long State is sustaining environmental permitting momentum and early mine development for battery-grade spodumene concentrate output.
Royalties, Equity Shifts & Supply-Chain Litigation
Zambia announced plans to increase gold royalties to maximize state revenue capture amid record commodity prices. The presidency opted not to move forward with a previously discussed plan for free state equity in all new critical-mineral mines, choosing continued negotiation with industry over a statutory claim.
Zimbabwe also unveiled a plan to hike royalties on gold producers to benefit the state during the continued price rally cycle. But unlike Zambia, Zimbabwe’s approach is strictly royalty-based rather than equity-based, focusing on immediate export-margin contribution to central revenue pools.
In Central Africa, the IRAdvocates group filed a lawsuit against Apple, alleging the use of minerals linked to conflict and human-rights abuses in the DRC and Rwanda, raising pressure around mineral traceability and third-party validation of sourcing claims.
Renewables & the Low-Carbon Mining Shift
Exxaro, via Cennergi, entered a R1.7–R1.8 billion renewable acquisition deal with Acciona Energía, taking majority stakes in two operational wind and solar assets. The investment accelerates Exxaro’s transition to a low-carbon energy future and moves it closer to its 2030 target of managing 1.6 GW in net renewable capacity.
The Copper Mark and the Solar Stewardship Initiative (SSI) form new alliance to track responsible copper extraction for solar hardware, PV manufacturing pipelines, renewable conductors, coil wiring, and magnet-driven clean-tech infrastructure. The partnership will support traceability audits, ESG-aligned copper supply validation, and harmonized standards for copper entering the global solar production chain.
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