Latest Africa News

Aurum Resources reports a maiden 1.6 million ounce gold resource at its Boundiali project in Côte d'Ivoire, alongside ongoing high-grade drilling success and a strategic merger with Mako Gold Limited.

Advanced Health Intelligence Ltd has locked in a USD$4 million convertible note facility with UAE-based KOR Investments LLC, aiming to raise up to AUD$10 million to fuel its MENA expansion and reduce debt.

Kore Potash has signed a landmark $1.929 billion fixed-price EPC contract for its Kola Potash Project, reinforcing its strategy to become a low-cost producer. The company is now awaiting a financing proposal from the Summit Consortium expected by February 2025.

EcoGraf Limited advances its vertically integrated battery anode materials business with a significant UFK loan mandate and progress across upstream, midstream, and downstream operations.

Mako Gold Limited has agreed to a takeover by Aurum Resources, creating a stronger gold exploration entity in West Africa with over A$20 million in cash to accelerate development at key projects.

Mineral Commodities Ltd reported a steep net loss of USD 65.1 million for H1 2024, driven by operational disruptions at its Tormin mine and strategic moves including the sale of its Skaland Graphite Project.

Unith Ltd has reported its strongest quarterly revenue in two years, driven by its B2C subscription division and strategic partnerships, while advancing its Digital Human technology and expanding into new markets.

Marvel Gold reports a cautious quarter with $0.513 million cash on hand and ongoing negotiations over its Mali assets, while actively exploring new opportunities beyond Mali for sustainable growth.

Resolute Mining reported a strong operational and financial performance in 2024, producing 340,000 ounces of gold and generating $250 million in operating cash flow. Despite higher costs driven by new mining regulations, the company maintains positive guidance for 2025 with ongoing exploration and development projects across West Africa.

Resolute Mining delivered a solid 2024 with record cash flows and slightly higher gold production, but faces rising costs from Mali’s new Mining Code and a $160 million government settlement. The company plans lower 2025 output as Mako mining winds down, focusing on cash flow and exploration.

Orion Minerals has completed critical Black Economic Empowerment transactions, unlocking the path to project financing for its Okiep Copper Project. Definitive Feasibility Studies for its flagship Flat Mines and Prieska Copper Zinc projects are in final review stages, promising stronger project metrics.

OncoSil Medical has secured new distribution agreements across key international markets and achieved critical regulatory milestones, while raising $8 million to fuel its growth in pancreatic cancer treatment.