THE MINING WRAP

Barrick Gold has selected Metso’s Concorde Cell flotation technology for its Lumwana Mining project in Zambia, strengthening the processing strategy for complex ores and improving recovery of fine particles. The selection supports higher metallurgical performance and more stable output as Lumwana advances its longer-term production roadmap.

Midnight Sun Starts Diamond Drilling at Dumbwa

Midnight Sun Mining has commenced diamond drilling at the Dumbwa target in Zambia, advancing its copper exploration programme into an active testing phase. The campaign is focused on validating priority targets and tightening geological understanding to guide follow-up drilling and resource definition.

Chisebuka Reports Positive Mineralisation at Muntanga

Chisebuka drilling has delivered positive mineralisation results at the Muntanga project, strengthening the technical outlook and supporting continued exploration momentum. The update adds to Zambia’s growing pipeline of copper prospects showing encouraging early-stage results.

KoBold Seeks Faster Mingomba Permits with US Backing

KoBold Metals, which owns 80% of the Mingomba mine, is seeking to accelerate its permitting process with support from the US State Department. The move highlights the strategic value of the Mingomba project within global critical mineral supply chains and could shorten timelines toward development.

First Quantum Completes US$1.25bn Kansanshi Expansion

First Quantum Minerals has completed a US$1.25 billion expansion at its Kansanshi mine in Zambia, reinforcing the asset’s long-term production role in the region. The expansion is expected to support higher throughput and improved operating scale as demand for copper remains strong.

Policy, Regulation and Markets

Zambia Enforces New Local Content Rules from January 2026

Zambia has implemented stricter local content regulations from January 1, 2026, requiring mining companies to allocate at least 20% of annual procurement budgets to local suppliers, rising to 40% within five years. The shift is supported by the Geological Minerals Development Act of 2025, signaling deeper structural reform and stronger in-country participation.

DRC Shares Strategic Minerals List with US to Attract Investment

The DRC government has shared a list of strategic mineral assets—including copper, cobalt, lithium and gold with the United States as part of a drive to attract investment. The move follows a 2025 crackdown on illegal mining and reinforces the country’s push for increased local processing and stronger economic capture.

Gold Surges Toward US$5,000/oz on Safe-Haven Demand

Gold prices surged toward US$5,000/oz between January 18–22, 2026, driven by heightened geopolitical risk and safe-haven demand. The rally strengthens producer cash flows and supports project development sentiment but also increases competition for quality acquisition targets.

Lobito Corridor Nears Operational Readiness

The Lobito Corridor rail project is reaching operational readiness in 2026, positioning it as a major export enabler for Zambian and DRC copper producers. Improved logistics are expected to reduce transport costs, improve competitiveness and unlock higher volumes over time.

Mining Indaba 2026 Set to Spotlight Critical Minerals

Mining Indaba 2026 (Feb 9–12) will convene industry leaders under the theme “Stronger Together,” with a focus on critical minerals, industrialisation and investment frameworks. The event is expected to shape deal-making priorities and regional cooperation for the year ahead.

ESG, Safety and Sustainability

2026 ESG Focus Shifts from Generic Reporting to Execution

Industry trends indicate 2026 will see a shift away from broad ESG narratives toward disciplined execution, particularly on decarbonisation and water management. Investors and regulators are increasingly focusing on measurable delivery, operational transparency and supply chain accountability.

EU Pushes Blockchain Traceability for Ethical Mineral Sourcing

The European Commission is pushing for blockchain-based traceability systems to strengthen ethical mineral sourcing and supply chain integrity. The move raises compliance requirements for producers supplying into Europe and increases the premium on verified origin and responsible production.

Perseus Faces Scrutiny After Second Contractor Fatality

Perseus Mining has come under increased scrutiny following a second contractor fatality at its Ivorian mine. The incident highlights contractor management as a key ESG risk area and reinforces the need for stronger safety culture oversight across outsourced workforces.

Anglo American Digitises Geotechnical Data for Risk Management

Anglo American has implemented a project to digitise geotechnical data at its Barro Alto mine in Brazil to improve risk management. The initiative strengthens safety monitoring, operational assurance and sustainability outcomes through better data-driven decision-making.

First Quantum Flags Structural Fatigue in Updated Guidance

First Quantum Minerals has reported updated 2026–2028 guidance, highlighting the need for remedial work due to structural fatigue on equipment. The update reinforces the operational importance of asset integrity, preventative maintenance and safety-linked reliability in large-scale mining environments.

Technology, Automation and AI

Sandvik Secures AI-Enabled Underground Automation Order

Sandvik has secured a major underground equipment order that includes AI-enabled digital solutions for automated loading and hauling at Redpath’s Cowal Gold Operation. The package reflects accelerating demand for automation that improves productivity, consistency and safety in underground mining.

Kal Tire and Decoda Deploy Autonomous Haul Road Hazard Detection

Kal Tire is partnering with Decoda on autonomous haul road hazard detection, using data-driven sensing and analytics to identify risks in real time. The development supports safer deployment of autonomous and semi-autonomous haulage fleets, including in high-traffic African mining operations.

Focus Graphite Validates AI-Enabled Flake Sizing Technology

Focus Graphite has developed and validated AI-enabled graphite flake sizing technology to enhance resource valuation and mine planning. The solution strengthens confidence in sizing accuracy and supports better processing decisions for battery mineral developers.

Komatsu Previews Smart Quarry Autonomous Retrofit Solution

Komatsu has announced it will showcase Smart Quarry Autonomous at CONEXPO-CON/AGG 2026, enabling retrofit autonomy for existing trucks through AI-driven systems. The approach lowers adoption barriers and supports gradual fleet modernisation without full replacement.

Ma’aden Builds Digital Mine Using AI-Driven Sensor Systems

Ma’aden is using Hexagon’s life-of-mine technology solutions to develop the region’s first digital mine at its Mansourah-Massarah gold mine. The project uses AI-driven sensors and software to enhance safety, productivity and future deployment across the company’s portfolio.

Corporate and Financial Activity

Botswana and Angola Discuss Potential Joint Control of De Beers

Botswana and Angola’s mining ministers are in discussions around potential joint control of De Beers as Anglo American seeks to sell the diamond unit. The talks could reshape diamond sector influence and reinforce state-led positioning in strategic mineral assets.

ReconAfrica Secures Funding for Namibia Expansion in 2026

ReconAfrica has secured funding to accelerate its Namibian and international oil and gas exploration portfolio in 2026. The financing supports expanded exploration activity and reflects continued investor appetite for frontier energy plays.

Caledonia Raises US$150m for Bilboes Gold Project

Caledonia Mining has secured US$150 million to fund the Bilboes gold project in Zimbabwe. The capital supports development planning and highlights sustained interest in scalable African gold projects.

NOVAGOLD Finalises US$1bn Donlin Gold Transaction

NOVAGOLD has finalised a US$1 billion deal to acquire a 60% interest in the Donlin Gold project, while Paulson Advisers took 40%. The transaction reinforces continued capital flows into long-life gold optionality and large-scale development assets.

Austral Agrees to Acquire Lady Loretta Copper Mine from Glencore

Austral Resources has entered an agreement to acquire the Lady Loretta copper mine from Glencore AG, aiming to feed the Mt Kelly processing plant. The transaction is intended to lift output to around 50,000 tonnes per annum and strengthen copper production scale.

DRC Copper/Cobalt Battle Intensifies Around Chemaf

Buenassa is seeking financing to acquire Chemaf, a major copper/cobalt producer in the DRC, in a move aimed at vertical integration. Competition for the asset highlights the strategic value of copper and cobalt production capacity in the battery minerals market.

Exploration, Projects and Regional Outlook

Galileo Confirms Copper in First Botswana Drill Test

Galileo Resources has confirmed the presence of copper in its first drill test at a project in Botswana. The result supports further exploration work and strengthens confidence in the project’s potential.

Cobre Begins New Diamond Drilling at Ngami Copper Project

Cobre Limited has launched new diamond drilling at its Ngami Copper Project in Botswana. The programme is expected to advance target testing and strengthen the geological model for continued work.

Helium One Begins Testing at Tanzanian Project

Helium One has begun testing at its Tanzanian exploration project, reinforcing progress in the country’s helium exploration story. The programme supports technical de-risking and future development planning.

Tanzania Pursues Ghana-Style Gold Sector Strategy

Tanzania is seeking to replicate Ghana’s gold trade and refining reforms to strengthen domestic sector performance. The push supports formalisation, improved trade structures and stronger value retention.

Kamoa-Kakula Moves Toward Phase 4 Expansion

The Kamoa-Kakula copper complex in the DRC is transitioning to a Phase 4 expansion in 2026. The expansion aims to reinforce the operation’s position as a global top-tier copper producer.

Simandou Shifts Toward Initial Production in 2026

Guinea’s Simandou iron ore project is transitioning from construction toward initial production in 2026, supported by major rail and port infrastructure development. The project remains one of the largest mining-linked infrastructure builds globally.

Zimbabwe and Mali Lithium Projects Reach Full Production

Zimbabwe and Mali are seeing multiple lithium projects reach full production capacity, with growing emphasis on local processing and value addition. The trend reflects increasing regulatory and market pressure to move beyond raw mineral exports.

Read more About THE MINING WRAP Here