Latest Africa News

Minbos Resources has drawn down the first US$4.8 million from its US$16 million loan facility with South Africa’s IDC, marking a key step forward for the Cabinda Phosphate Fertilizer Plant. The company has initiated orders for critical equipment and completed Phase-1 construction, with Phase-2 contracts expected soon.

Toubani Resources reports rapid earthworks progress and equipment deliveries at Kobada Gold Project, maintaining its target for first gold in Q3 2027.

Lindian Resources has cancelled 13 million performance rights held by a former executive chairman, sparking uncertainty as a potential $10 million claim looms.

Boresight Ltd (ASX: BST) is seeking to raise $8 million through a public offer to expand its cost-effective military drone manufacturing, targeting growth in the US and European markets.

Resolute Mining’s Syama gold mine in Mali faces production setbacks in Q2 2026 due to security-driven logistical disruptions, pushing output below forecast while maintaining full-year guidance near the lower end.

Chilwa Minerals has identified a substantial new heavy mineral sands target at Mpyupyu West in Southern Malawi, resuming drilling with two sonic rigs and preparing an updated resource estimate for its Mpyupyu deposits.

Dalaroo Metals has pinpointed a continuous 4.3km gold-in-soil anomaly at its Gold Ridge Prospect in Côte d'Ivoire, aligning with a major 9km geophysical corridor and artisanal workings. A 5,000m auger drilling program is set to test the bedrock source ahead of maiden RC drilling.

Theta Gold Mines has locked in a fully subscribed US$90 million senior secured bond to complete the TGME Gold Mine Project in South Africa, targeting first gold production in early 2027.

Orion Minerals has completed the conversion of a ZAR344.5 million loan from South Africa’s IDC into equity, giving IDC a 23.8% stake in the Prieska Project subsidiary and removing secured lending constraints.

Vita Resources NL is accelerating exploration across its diverse portfolio, expanding drilling at its Ninnis Gold Project in WA and confirming polymetallic upgrades at its ICE Project in Canada.

TruScreen Group reported a 42% increase in FY2026 sales driven by new market entries including India and Indonesia, alongside launching a large-scale cervical cancer screening program in Vietnam and submitting major UNITAID proposals.

Volt Group reported an 8% revenue decline in FY25 amid strategic shifts but is poised for growth with the 4D Delta acquisition driving a 150% revenue surge in Q1 FY26.