mining
08 March 2025
Australian Miningmining
Mar 08, 2025Australian Mining
Macmahon Holdings has been appointed as the underground mining services contractor at the Poboya gold project in Sulawesi, Indonesia, with the interim contract taking effect immediately.
Poboya is owned by PT Citra Palu Minerals (CPM), a PT Bumi Resources Minerals Tbk subsidiary. Macmahon currently provides open-cut mining services to the project.
Under the new contract, Macmahon will provide works such as underground mining development, ore mining activities, drilling, loading, hauling, equipment maintenance and mine services support.
CPM will supply all major capital equipment and infrastructure for Poboya.
“We are delighted to continue working with CPM on the next stage of the Poboya gold project which will see us expanding our services to include both surface and underground,” Macmahon managing director and chief executive officer Michael Finnegan said.
“We look forward to building on our valued relationship and are focused on growing the Poboya asset while continuing to drive safety and performance outcomes for our client.”
The interim contract will remain on foot under a cost-plus arrangement until Macmahon and CPM can finalise and execute a five-year, alliance style, underground mining services contract.
The contract’s value has not been determined as of yet, but it is expected to add approximately $317 million to Macmahon’s orderbook.
In other Macmahon news, the diversified contractor delivered $1.2 billion in revenue for the six months ending December 31, a 22 per cent increase from the prior corresponding period.
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Cmoc To Expand Kisanfu Copper Mine With A Us$1.08 Billion Board ApprovalThe Democratic Republic of Congo (DRC), Africa’s top copper producer and the world’s second-largest, increasingly attracts attention amid announced shortages for the metal. The country hosts new projects likely to strengthen its production in the coming years.
On 24th October 2025, the Chinese group CMOC announced it secured board approval to develop the expansion project for its Kisanfu copper mine in the DRC. This initiative, costing US$1.08 billion, aims to increase the asset’s annual production by an average of 100,000 tonnes. This project forms part of a series of new Chinese ventures poised to reinforce Congolese copper output.
CMOC projects a two-year timeline for implementing the project, with commissioning expected in 2027. Once finalised, the expansion must increase Kisanfu’s processing capacity, which currently delivers more than 150,000 tonnes of copper annually, according to the company’s official website. The expansion announcement follows a similar optimisation project already underway at Kamoa-Kakula, another copper mine 39.6% controlled by China’s Zijin Mining.
Dubbed “Project 95,” this initiative seeks to boost copper recovery rates at the asset’s concentrators 1 and 2, generating up to 30,000 additional tonnes annually. The overall initiative aims for Kamoa-Kakula to reach an annual production of 600,000 tonnes (compared to 437,061 tonnes delivered in 2024).
In parallel, JinChuan Group, another Chinese entity active at the Ruashi and Kinsenda mines, prepares the launch of its third copper mine in the DRC. This involves the Musonoi project, with a production capacity of 38,000 tonnes per year, expected to be finalised in the second quarter of 2026. Collectively, these projects illustrate the consistently significant influence of Chinese players in the Central African country’s growing copper industry.
The DRC, the world’s second-largest producer since 2023, exported 3.1 million tonnes of copper in 2024. This result represents a 13% increase, driven by the strong performance of Kamoa-Kakula and CMOC operations.
These projects align with a favorable market context for copper, with demand expected to rise due to the energy transition and the boom in artificial intelligence. The International Energy Agency (IEA) states that the supply from current mining projects will prove insufficient to meet demand in the coming years. The institution indicates that the copper supply deficit could reach 40% by 2035.
Companies can potentially capture this market share by developing new production sources or reinforcing existing assets. This observation holds particular significance for the DRC, considering China currently represents the primary importer of its copper.
For the Central African nation, the realisation of these Chinese projects could consolidate its place among the world’s principal copper production hubs, provided existing sites remain stable. The projects could also generate higher mining revenues for the state. Kinshasa controls 20% of Kamoa-Kakula and 25% of Musonoi’s capital via the state-owned company Gécamines.
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31 October 20253 min readCmoc To Expand Kisanfu Copper Mine With A Us$1.08 Billion Board Approval
Africa Mining Market
31 October 2025
mining
Namibia’S Energy Sector To Add Us$3 Billion To Gdp And…Namibia’s emerging energy mix – spanning oil, gas, renewables and green hydrogen – is poised to transform the national economy by the end of the decade, with the combined potential to add more than US$3 billion in annual GDP and create tens of thousands of jobs.
At the Namibia Public-Private Forum held in Windhoek from 23 to 24 October 2025, Dr Grant Muller of the Namibia Green Hydrogen Association and Eduardo Rodriguez of the Namibia Petroleum Operators Association co-chaired the Energy, Oil, Gas and Green Hydrogen Working Group, outlining a consolidated strategy to align the sectors with the Sixth National Development Plan (NDP6) and the Swapo Manifesto Implementation Plan.
The working group described the four sectors as complementary and interdependent, forming the backbone of Namibia’s industrial transformation. The approach positions green hydrogen, hydrocarbons, renewables, and nuclear energy as mutually reinforcing pillars that, together, can unlock Namibia’s long-term energy security, fiscal stability, and export competitiveness.
According to projections tabled at the forum, the combined industries could lift national GDP by between 6.8% and 25% depending on the scale of investment and production achieved by 2030.
Muller said the transformation “requires no direct government equity or funding, only a stable and predictable policy environment.”
The group emphasised that precise, enabling regulation was the key to unlocking multi-billion-dollar private investments and accelerating industrialisation under NDP6.
Namibia’s green hydrogen and ammonia projects are projected to produce 2.2 million tonnes of green ammonia and 2 million tonnes of direct reduced iron (DRI) per year by 2030, surpassing the initial targets of 1.3 million tonnes.
Once commercialised, the sector could inject about US$2 billion annually into GDP and create more than 30,000 direct jobs, with an estimated multiplier effect of two to three times across supporting industries.
The working group said green hydrogen has now moved from feasibility to the financing phase, but lengthy approval processes and fragmented institutional oversight constrain the sector’s growth.
It recommended the establishment of a single inter-ministerial governance framework to coordinate permitting for land, servitudes, environmental clearances and access to export infrastructure.
The group also called for the government to designate flagship hydrogen projects as nationally strategic and to assign a responsible entity with the authority to fast-track approvals and coordination.
On financing, developers are requesting the enactment of sector-specific legislation to provide investors with protection and legal certainty for large-scale project finance. A globally competitive fiscal regime, benchmarked against hydrogen-producing countries such as Mauritania and Saudi Arabia, was also proposed to improve Namibia’s position in the global market.
In the offshore Orange Basin, Namibia’s oil and gas prospects have gained international attention following discoveries by TotalEnergies, Shell and Galp Energia. The working group said these discoveries could propel Namibia into the ranks of oil-producing nations within the decade if development is accelerated and licensing delays are resolved.
The group projects that by 2030, Namibia could have three final investment decisions (FIDs) and at least one floating production storage and offloading vessel (FPSO) in operation. This initial phase could contribute 6.8% GDP growth, equivalent to US$1 billion annually, and create about 12,000 jobs.
In a high-development scenario of four FPSOs, production could reach 150,000 barrels per day – about 55 million barrels per year – generating approximately US$3.3 billion in GDP contribution and supporting more than 45,000 direct and indirect jobs.
To maintain investor confidence, the working group recommended a phased, flexible implementation of the National Upstream Local Content Policy, with differentiated requirements for the exploration, appraisal, development, and production stages.
It also called for the regular awarding of new exploration licences, noting that none had been issued since 2022. The group urged the Ministry of Mines and Energy to finalise outstanding offers from previous bid rounds and to institute at least one annual licensing round to sustain investor momentum.
To reduce duplication and enhance efficiency, operators are proposing a system to facilitate the trading and sharing of seismic and well information among licensed companies, thereby accelerating prospect appraisal and shortening exploration timelines.
The group further proposed that Namibia ratify the ICSID and New York Conventions, which provide international arbitration mechanisms to safeguard investor rights and to introduce rebalancing mechanisms in petroleum contracts. These would allow contract terms to be adjusted fairly in the event of material changes, such as tax reforms, regulatory shifts, or force majeure events.
Namibia’s renewable energy programme, supported under NDP6, targets installing 400 MW of renewable capacity by 2030, up from the currently installed 367 MW. Solar and biomass remain the main focus areas, with projections suggesting that local photovoltaic manufacturing alone could contribute N$37 billion to GDP by 2050.
However, the group identified significant infrastructure constraints and minimal transmission capacity for electricity exports.
It called for urgent bilateral engagement with South Africa, Zambia and Botswana to explore grid interconnection and expansion opportunities, including greater utilisation of the Zambezi interconnector and flexibility to allow renewable producers access to the HVDC transmission line.
To encourage private-sector participation in energy infrastructure, the working group recommended legislative amendments that would allow private companies to invest directly in grid expansion and transmission projects.
Regarding the Modified Single Buyer (MSB) market model, the group requested that embedded-generation projects operating under take-or-pay agreements be exempted from complex scheduling and balancing rules, which they say discourage investment.
It further proposed allowing Regional Electricity Distributors (REDs) and Local Authorities (LAs) to enter short-term power purchase agreements – up to 3 years – if they can secure power at a price below NamPower’s current tariff levels, enabling cost reductions for end users.
If implemented as planned, the energy, oil, gas and hydrogen portfolio could collectively generate more than 75,000 direct jobs by 2030, with indirect employment effects exceeding 200,000.
The combined GDP contribution is projected to rise to between US$2 billion and US$3.3 billion per annum, depending on the scale of oil output and hydrogen exports.
Renewables are expected to add about 800 direct jobs, while the hydrogen and hydrocarbons sectors will account for the bulk of employment growth through industrialisation and infrastructure development.
The plan aligns with NDP6 economic targets, including achieving 7% annual GDP growth, expanding industrial exports, and supporting the Swapo Manifesto goal of transforming energy into the country’s number-one economic enabler.
The working group underscored that policy coordination, legislative certainty, and efficient institutional capacity remain the main prerequisites for success.
It is recommended that the government establish an Inter-Ministerial Energy Coordination Mechanism, with representation from the Ministries of Mines and Energy, Environment, Finance, and Industrialisation, as well as NamPower, NamWater, and NamPort.
The mechanism would ensure faster project approval, harmonised regulation, and alignment of infrastructure investments with NDP6 priorities.
As part of the following steps, the group proposed that all pending Energy and Petroleum policy instruments be finalised within six months, and that Namibia position its strategic projects as regional models for energy transition partnerships.
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28 October 20256 min readNamibia’S Energy Sector To Add Us$3 Billion To Gdp And…
Africa Mining Market
28 October 2025
mining
Harmony Gold Acquires Mac Copper For Us$1.01 BillionSouth Africa’s Harmony Gold has completed the US$1.01 billion acquisition of Australia-based MAC Copper Limited. The deal gives the Randfontein-based miner ownership of the CSA copper mine, officially making it a copper producer.
While Harmony Gold has traditionally focused on gold, the company began diversifying into copper several years ago. This strategy was initially supported by the Wafi-Golpu project in Papua New Guinea and the Eva project in Australia, both still under development. The acquisition of the producing CSA mine, however, gives Harmony Gold immediate copper output.
According to MAC Copper’s website, the CSA mine produces about 40,000 tons of copper a year. Harmony Gold said it will integrate the mine’s operations into its broader production plan over the next three months, adding CSA’s output to its current fiscal-year forecasts.
The move reflects a broader trend among gold producers diversifying into copper, a key metal for the global energy transition. The same shift can be seen at Newmont Corp, the world’s largest gold producer, and Barrick Gold of Canada, which operates the Lumwana mine in Zambia.
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28 October 20252 min readHarmony Gold Acquires Mac Copper For Us$1.01 Billion
Africa Mining Market
28 October 2025
mining
Namibia’S Energy Sector To Add Us$3 Billion To Gdp And Create Thousands Of JobsNamibia’s emerging energy mix – spanning oil, gas, renewables and green hydrogen – is poised to transform the national economy by the end of the decade, with the combined potential to add more than US$3 billion in annual GDP and create tens of thousands of jobs.
At the Namibia Public-Private Forum held in Windhoek from 23 to 24 October 2025, Dr Grant Muller of the Namibia Green Hydrogen Association and Eduardo Rodriguez of the Namibia Petroleum Operators Association co-chaired the Energy, Oil, Gas and Green Hydrogen Working Group, outlining a consolidated strategy to align the sectors with the Sixth National Development Plan (NDP6) and the Swapo Manifesto Implementation Plan.
The working group described the four sectors as complementary and interdependent, forming the backbone of Namibia’s industrial transformation. The approach positions green hydrogen, hydrocarbons, renewables, and nuclear energy as mutually reinforcing pillars that, together, can unlock Namibia’s long-term energy security, fiscal stability, and export competitiveness.
According to projections tabled at the forum, the combined industries could lift national GDP by between 6.8% and 25% depending on the scale of investment and production achieved by 2030.
Muller said the transformation “requires no direct government equity or funding, only a stable and predictable policy environment.”
The group emphasised that precise, enabling regulation was the key to unlocking multi-billion-dollar private investments and accelerating industrialisation under NDP6.
Namibia’s green hydrogen and ammonia projects are projected to produce 2.2 million tonnes of green ammonia and 2 million tonnes of direct reduced iron (DRI) per year by 2030, surpassing the initial targets of 1.3 million tonnes.
Once commercialised, the sector could inject about US$2 billion annually into GDP and create more than 30,000 direct jobs, with an estimated multiplier effect of two to three times across supporting industries.
The working group said green hydrogen has now moved from feasibility to the financing phase, but lengthy approval processes and fragmented institutional oversight constrain the sector’s growth.
It recommended the establishment of a single inter-ministerial governance framework to coordinate permitting for land, servitudes, environmental clearances and access to export infrastructure.
The group also called for the government to designate flagship hydrogen projects as nationally strategic and to assign a responsible entity with the authority to fast-track approvals and coordination.
On financing, developers are requesting the enactment of sector-specific legislation to provide investors with protection and legal certainty for large-scale project finance. A globally competitive fiscal regime, benchmarked against hydrogen-producing countries such as Mauritania and Saudi Arabia, was also proposed to improve Namibia’s position in the global market.
In the offshore Orange Basin, Namibia’s oil and gas prospects have gained international attention following discoveries by TotalEnergies, Shell and Galp Energia. The working group said these discoveries could propel Namibia into the ranks of oil-producing nations within the decade if development is accelerated and licensing delays are resolved.
The group projects that by 2030, Namibia could have three final investment decisions (FIDs) and at least one floating production storage and offloading vessel (FPSO) in operation. This initial phase could contribute 6.8% GDP growth, equivalent to US$1 billion annually, and create about 12,000 jobs.
In a high-development scenario of four FPSOs, production could reach 150,000 barrels per day – about 55 million barrels per year – generating approximately US$3.3 billion in GDP contribution and supporting more than 45,000 direct and indirect jobs.
To maintain investor confidence, the working group recommended a phased, flexible implementation of the National Upstream Local Content Policy, with differentiated requirements for the exploration, appraisal, development, and production stages.
It also called for the regular awarding of new exploration licences, noting that none had been issued since 2022. The group urged the Ministry of Mines and Energy to finalise outstanding offers from previous bid rounds and to institute at least one annual licensing round to sustain investor momentum.
To reduce duplication and enhance efficiency, operators are proposing a system to facilitate the trading and sharing of seismic and well information among licensed companies, thereby accelerating prospect appraisal and shortening exploration timelines.
The group further proposed that Namibia ratify the ICSID and New York Conventions, which provide international arbitration mechanisms to safeguard investor rights and to introduce rebalancing mechanisms in petroleum contracts. These would allow contract terms to be adjusted fairly in the event of material changes, such as tax reforms, regulatory shifts, or force majeure events.
Namibia’s renewable energy programme, supported under NDP6, targets installing 400 MW of renewable capacity by 2030, up from the currently installed 367 MW. Solar and biomass remain the main focus areas, with projections suggesting that local photovoltaic manufacturing alone could contribute N$37 billion to GDP by 2050.
However, the group identified significant infrastructure constraints and minimal transmission capacity for electricity exports.
It called for urgent bilateral engagement with South Africa, Zambia and Botswana to explore grid interconnection and expansion opportunities, including greater utilisation of the Zambezi interconnector and flexibility to allow renewable producers access to the HVDC transmission line.
To encourage private-sector participation in energy infrastructure, the working group recommended legislative amendments that would allow private companies to invest directly in grid expansion and transmission projects.
Regarding the Modified Single Buyer (MSB) market model, the group requested that embedded-generation projects operating under take-or-pay agreements be exempted from complex scheduling and balancing rules, which they say discourage investment.
It further proposed allowing Regional Electricity Distributors (REDs) and Local Authorities (LAs) to enter short-term power purchase agreements – up to 3 years – if they can secure power at a price below NamPower’s current tariff levels, enabling cost reductions for end users.
If implemented as planned, the energy, oil, gas and hydrogen portfolio could collectively generate more than 75,000 direct jobs by 2030, with indirect employment effects exceeding 200,000.
The combined GDP contribution is projected to rise to between US$2 billion and US$3.3 billion per annum, depending on the scale of oil output and hydrogen exports.
Renewables are expected to add about 800 direct jobs, while the hydrogen and hydrocarbons sectors will account for the bulk of employment growth through industrialisation and infrastructure development.
The plan aligns with NDP6 economic targets, including achieving 7% annual GDP growth, expanding industrial exports, and supporting the Swapo Manifesto goal of transforming energy into the country’s number-one economic enabler.
The working group underscored that policy coordination, legislative certainty, and efficient institutional capacity remain the main prerequisites for success.
It is recommended that the government establish an Inter-Ministerial Energy Coordination Mechanism, with representation from the Ministries of Mines and Energy, Environment, Finance, and Industrialisation, as well as NamPower, NamWater, and NamPort.
The mechanism would ensure faster project approval, harmonised regulation, and alignment of infrastructure investments with NDP6 priorities.
As part of the following steps, the group proposed that all pending Energy and Petroleum policy instruments be finalised within six months, and that Namibia position its strategic projects as regional models for energy transition partnerships.
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28 October 20256 min readNamibia’S Energy Sector To Add Us$3 Billion To Gdp And Create Thousands Of Jobs
Africa Mining Market
28 October 2025
mining
Namibia’S Energy Sector To Add Us$3 Billion To…Namibia’s emerging energy mix – spanning oil, gas, renewables and green hydrogen – is poised to transform the national economy by the end of the decade, with the combined potential to add more than US$3 billion in annual GDP and create tens of thousands of jobs.
At the Namibia Public-Private Forum held in Windhoek from 23 to 24 October 2025, Dr Grant Muller of the Namibia Green Hydrogen Association and Eduardo Rodriguez of the Namibia Petroleum Operators Association co-chaired the Energy, Oil, Gas and Green Hydrogen Working Group, outlining a consolidated strategy to align the sectors with the Sixth National Development Plan (NDP6) and the Swapo Manifesto Implementation Plan.
The working group described the four sectors as complementary and interdependent, forming the backbone of Namibia’s industrial transformation. The approach positions green hydrogen, hydrocarbons, renewables, and nuclear energy as mutually reinforcing pillars that, together, can unlock Namibia’s long-term energy security, fiscal stability, and export competitiveness.
According to projections tabled at the forum, the combined industries could lift national GDP by between 6.8% and 25% depending on the scale of investment and production achieved by 2030.
Muller said the transformation “requires no direct government equity or funding, only a stable and predictable policy environment.”
The group emphasised that precise, enabling regulation was the key to unlocking multi-billion-dollar private investments and accelerating industrialisation under NDP6.
Namibia’s green hydrogen and ammonia projects are projected to produce 2.2 million tonnes of green ammonia and 2 million tonnes of direct reduced iron (DRI) per year by 2030, surpassing the initial targets of 1.3 million tonnes.
Once commercialised, the sector could inject about US$2 billion annually into GDP and create more than 30,000 direct jobs, with an estimated multiplier effect of two to three times across supporting industries.
The working group said green hydrogen has now moved from feasibility to the financing phase, but lengthy approval processes and fragmented institutional oversight constrain the sector’s growth.
It recommended the establishment of a single inter-ministerial governance framework to coordinate permitting for land, servitudes, environmental clearances and access to export infrastructure.
The group also called for the government to designate flagship hydrogen projects as nationally strategic and to assign a responsible entity with the authority to fast-track approvals and coordination.
On financing, developers are requesting the enactment of sector-specific legislation to provide investors with protection and legal certainty for large-scale project finance. A globally competitive fiscal regime, benchmarked against hydrogen-producing countries such as Mauritania and Saudi Arabia, was also proposed to improve Namibia’s position in the global market.
In the offshore Orange Basin, Namibia’s oil and gas prospects have gained international attention following discoveries by TotalEnergies, Shell and Galp Energia. The working group said these discoveries could propel Namibia into the ranks of oil-producing nations within the decade if development is accelerated and licensing delays are resolved.
The group projects that by 2030, Namibia could have three final investment decisions (FIDs) and at least one floating production storage and offloading vessel (FPSO) in operation. This initial phase could contribute 6.8% GDP growth, equivalent to US$1 billion annually, and create about 12,000 jobs.
In a high-development scenario of four FPSOs, production could reach 150,000 barrels per day – about 55 million barrels per year – generating approximately US$3.3 billion in GDP contribution and supporting more than 45,000 direct and indirect jobs.
To maintain investor confidence, the working group recommended a phased, flexible implementation of the National Upstream Local Content Policy, with differentiated requirements for the exploration, appraisal, development, and production stages.
It also called for the regular awarding of new exploration licences, noting that none had been issued since 2022. The group urged the Ministry of Mines and Energy to finalise outstanding offers from previous bid rounds and to institute at least one annual licensing round to sustain investor momentum.
To reduce duplication and enhance efficiency, operators are proposing a system to facilitate the trading and sharing of seismic and well information among licensed companies, thereby accelerating prospect appraisal and shortening exploration timelines.
The group further proposed that Namibia ratify the ICSID and New York Conventions, which provide international arbitration mechanisms to safeguard investor rights and to introduce rebalancing mechanisms in petroleum contracts. These would allow contract terms to be adjusted fairly in the event of material changes, such as tax reforms, regulatory shifts, or force majeure events.
Namibia’s renewable energy programme, supported under NDP6, targets installing 400 MW of renewable capacity by 2030, up from the currently installed 367 MW. Solar and biomass remain the main focus areas, with projections suggesting that local photovoltaic manufacturing alone could contribute N$37 billion to GDP by 2050.
However, the group identified significant infrastructure constraints and minimal transmission capacity for electricity exports.
It called for urgent bilateral engagement with South Africa, Zambia and Botswana to explore grid interconnection and expansion opportunities, including greater utilisation of the Zambezi interconnector and flexibility to allow renewable producers access to the HVDC transmission line.
To encourage private-sector participation in energy infrastructure, the working group recommended legislative amendments that would allow private companies to invest directly in grid expansion and transmission projects.
Regarding the Modified Single Buyer (MSB) market model, the group requested that embedded-generation projects operating under take-or-pay agreements be exempted from complex scheduling and balancing rules, which they say discourage investment.
It further proposed allowing Regional Electricity Distributors (REDs) and Local Authorities (LAs) to enter short-term power purchase agreements – up to 3 years – if they can secure power at a price below NamPower’s current tariff levels, enabling cost reductions for end users.
If implemented as planned, the energy, oil, gas and hydrogen portfolio could collectively generate more than 75,000 direct jobs by 2030, with indirect employment effects exceeding 200,000.
The combined GDP contribution is projected to rise to between US$2 billion and US$3.3 billion per annum, depending on the scale of oil output and hydrogen exports.
Renewables are expected to add about 800 direct jobs, while the hydrogen and hydrocarbons sectors will account for the bulk of employment growth through industrialisation and infrastructure development.
The plan aligns with NDP6 economic targets, including achieving 7% annual GDP growth, expanding industrial exports, and supporting the Swapo Manifesto goal of transforming energy into the country’s number-one economic enabler.
The working group underscored that policy coordination, legislative certainty, and efficient institutional capacity remain the main prerequisites for success.
It is recommended that the government establish an Inter-Ministerial Energy Coordination Mechanism, with representation from the Ministries of Mines and Energy, Environment, Finance, and Industrialisation, as well as NamPower, NamWater, and NamPort.
The mechanism would ensure faster project approval, harmonised regulation, and alignment of infrastructure investments with NDP6 priorities.
As part of the following steps, the group proposed that all pending Energy and Petroleum policy instruments be finalised within six months, and that Namibia position its strategic projects as regional models for energy transition partnerships.
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28 October 20256 min readNamibia’S Energy Sector To Add Us$3 Billion To…
Africa Mining Market
28 October 2025
mining
Nigeria Targets Us$410 Billion For Clean Energy By 2060Nigeria plans to raise about US$410 billion by 2060 to overhaul its power system and expand clean energy sources, Vice President Kashim Shettima said during the opening of the Nigerian Renewable Energy Innovation Forum 2025. The target is to reach an installed power capacity of 277 gigawatts (GW), up sharply from the current operational capacity of 13-15 GW.
The ambitious plan comes as public finances remain under pressure. The projected 2025 federal budget of roughly US$36 billion includes an estimated US$8.5 billion deficit, representing nearly a quarter of government spending. Nigeria’s public debt stood at nearly US$97 billion in the Q1 of 2025, according to the Debt Management Office.
The government is seeking to balance its energy goals with fiscal discipline through financial reforms and private investment. In August 2025, it approved a US$2.6 billion refinancing plan to clear debts owed to 27 power producers between 2015 and 2023.
Meanwhile, electricity subsidies have been reduced by 35% after a targeted tariff hike, easing pressure on the national treasury. Local reports indicate that more than US$400 million has already been committed to domestic production of solar panels, batteries, and electricity meters.
The World Bank estimates that only 61% of Nigerians had access to electricity in 2023. With a population growing by 2.5% to 3% annually, Nigeria could add 130 million people by 2050. Rapid population growth and industrial expansion are driving up demand. The International Finance Corporation projects that electricity consumption could double by 2030.
A 2023 study in Energy Research & Social Science found that the power sector loses about US$1.9 billion annually, more than the federal health budget, due to technical inefficiencies, unpaid bills, and high grid costs, which threaten the system’s long-term viability.
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23 October 20252 min readNigeria Targets Us$410 Billion For Clean Energy By 2060
Africa Mining Market
23 October 2025
mining
Consultation Opens For $2 Billion Green Aluminium Production CreditThe Federal Government has opened consultation on a proposed $2 billion green aluminium production credit (GAPC) scheme to accelerate the decarbonisation of production.
The credit will provide local smelters with the “confidence to invest” in renewable energy sources to back Australian-made facilities to ensure the country secures a lasting competitive advantage in the global clean energy economy.
The GAPC is part of the government’s Future Made in Australia iniative, which is designed to support industries essential to the nation’s net-zero ambitions.
Under the proposal, aluminium smelters will receive production credits for each tonne of ‘green aluminium’ produced using renewable energy, with $2 billion allocated to the scheme until 2036.
Under the scheme, facilities will be eligible for support for every tonne of “clean, reliable, Australian-made aluminium” they make over a period of up to 10 years or to 2044, whichever is sooner.
“Australia’s aluminium smelters have long been the backbone of our manufacturing sector,” Federal Minister for Industry and Innovation and Minister for Science Tim Ayres said in a statement.
“Demand for aluminium, because of its wide range of uses including for the infrastructure necessary for the energy transition – both at home and with our trading partners – is set to grow strongly in the decades ahead,” he added.
Aluminium production contributes three to four per cent of Australia’s total greenhouse gas emissions – with the federal government looking to cut this to support 2035 emissions reduction targets.
Consultation on the design of the production credit will close on October 30, 2025. For more information and to contribute to the consultation, visit consult.industry.gov.au.
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Australian Mining
mining
21 October 20252 min readConsultation Opens For $2 Billion Green Aluminium Production Credit
Australian Mining
21 October 2025
mining
Sonatrach Signs Us$5.4 Billion Oil And Gas Deal With Midad EnergyAlgeria’s state-owned energy company Sonatrach said it signed a contract worth around US$5.4 billion with Saudi Arabia’s Midad Energy for oil and gas exploration and development in Algeria’s Illizi Basin.
The production-sharing contract spans 30 years with an option to extend for an additional 10 years and includes a seven-year exploration period.
Midad Energy North Africa will fully fund the investment, including US$288 million allocated to exploration. The Illizi South perimeter lies about 100 km (62 miles) south of the Algerian town of In Amenas, near the Libyan border.
Overall production by the end of the contractual period is estimated to reach around 993 million barrels of oil equivalent, including 125 billion cubic meters of natural gas.
Sonatrach is Algeria’s largest oil and gas producer and has been actively seeking foreign partnerships to boost output and modernise infrastructure.
The company has previously signed deals with international partners, including a recent US$850 million contract with China’s Sinopec for hydrocarbon development and exploration.
Earlier this month, Algeria’s energy minister said the country plans to invest US$60 billion in its energy sector over the next five years, with a focus on upstream exploration and production.
The North African nation, a member of the Organization of the Petroleum Exporting Countries, aims to strengthen its role as a key supplier of energy to international markets while meeting domestic demand and making a transition to more sustainable sources.
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15 October 20252 min readSonatrach Signs Us$5.4 Billion Oil And Gas Deal With Midad Energy
Africa Mining Market
15 October 2025
mining
Sonatrach Signs Us$5.4 Billion Oil And Gas Deal With Midad…Algeria’s state-owned energy company Sonatrach said it signed a contract worth around US$5.4 billion with Saudi Arabia’s Midad Energy for oil and gas exploration and development in Algeria’s Illizi Basin.
The production-sharing contract spans 30 years with an option to extend for an additional 10 years and includes a seven-year exploration period.
Midad Energy North Africa will fully fund the investment, including US$288 million allocated to exploration. The Illizi South perimeter lies about 100 km (62 miles) south of the Algerian town of In Amenas, near the Libyan border.
Overall production by the end of the contractual period is estimated to reach around 993 million barrels of oil equivalent, including 125 billion cubic meters of natural gas.
Sonatrach is Algeria’s largest oil and gas producer and has been actively seeking foreign partnerships to boost output and modernise infrastructure.
The company has previously signed deals with international partners, including a recent US$850 million contract with China’s Sinopec for hydrocarbon development and exploration.
Earlier this month, Algeria’s energy minister said the country plans to invest US$60 billion in its energy sector over the next five years, with a focus on upstream exploration and production.
The North African nation, a member of the Organization of the Petroleum Exporting Countries, aims to strengthen its role as a key supplier of energy to international markets while meeting domestic demand and making a transition to more sustainable sources.
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15 October 20252 min readSonatrach Signs Us$5.4 Billion Oil And Gas Deal With Midad…
Africa Mining Market
15 October 2025
mining
Develop Doubles Sulphur Springs Free Cash Flow To $1.5 BillionDevelop Global has doubled its projected free cash flow for its Sulphur Springs zinc-copper project in Western Australia’s Pilbara to $1.5 billion after releasing its definitive feasibility study, showing strong returns driven by higher metal prices and a larger mine plan.
The definitive feasibility study (DFS) puts Sulphur Springs back on track for a final investment decision and construction, with all major project approvals granted.
Develop’s updated DFS pre-tax net present value at 8 per cent (NPV8) rose to $921 million, a 76 per cent increase from the 2023 DFS. Its pre-tax internal rate of return stepped up to 59 per cent in 2025 with a roughly three-year payback, followed by the $1.5b free cash flow.
Develop managing director Bill Beament said that the outstanding results from the DFS confirmed that Sulphur Springs is a significant mine “by any measure” and can generate “outstanding financial returns” and value for the company and its shareholders.
“The case for accelerating Sulphur Springs is clear and compelling; we have a unique opportunity which we intend to maximise by building the underground decline and associated infrastructure at the start of the project,” he said.
Beament added this would happen before the beginning of production mining, significantly de-risking the project and maximising the overall mining opportunity at Sulphur Springs.
The project will be developed as an underground operation, which Develop said would allow for flexibility in the mine plan and scheduling sequence.
The company will be using a bottom-up long-hole stoping sequence with cemented paste fill, with nameplate throughput increasing to 1.5 million tonnes per annum (Mtpa), up from 1.25Mtpa, enabling a two-year ramp-up and five years at a steady state within an approximately eight-year mine life.
Beament said Develop is planning on leveraging the project’s significant untapped geological upside, and they are confident in its potential to deliver substantial mine life growth.
“Develop now has two projects in Sulphur Springs and our Woodlawn Copper-Zinc mine in NSW, which give us substantial exposure to what is set to be one of the great investment themes of a generation,” he said.
“Our people and our assets make Develop a perfectly positioned company for our times.”
Sulphur Springs holds an unchanged ore reserve of 8.8 metric tonnes (Mt) at 1.1 per cent copper and 5.4 per cent zinc; zinc and copper concentrate grades are targeted at roughly 50 per cent Zn and 21 per cent Cu respectively.
Upfront capital costs for Develop are $329 million, with $289 million for plant and infrastructure and $40 million for pre-production; with costs estimated at +/- 15 per cent for Q4 in the 2025 calendar year.
Life of mine (LOM) onsite operating costs are at an average of $114 per tonne once processed, with the forecasted LOM revenue sitting at $3.42 billion, with the average annual pre-tax cash flow of approximately $252 million.
Meanwhile, there is no offtake agreement for the copper metal over the LOM and only a residual zinc offtake beginning after year five of production, therefore leaving offtake capacity available.
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11 October 20253 min readDevelop Doubles Sulphur Springs Free Cash Flow To $1.5 Billion
Australian Mining
11 October 2025
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Dr Congo Mining Firms Underreported Us$16.8 Billion In RevenueMining companies operating in the Democratic Republic of Congo underreported US$16.8 billion in revenue between 2018 and 2023, a state audit found, potentially reducing funds for the government and local communities.
Under Congo’s 2018 mining code, firms must contribute 0.3% of annual revenue to community development funds that typically support schools, clinics and water systems.
Congo, a top cobalt and copper producer, both critical for battery production, is among the world’s poorest countries.
The discrepancy resulted in US$50.4 million in lost contributions to development funds, the report said.
CMOC’s TFM, Glencore’s Kamoto Copper, Ivanhoe’s Kamoa-Kakula mine, SICOMINES, Eurasian Resources Group’s Metakol and Ruashi Mining collectively underreported US$10 billion, it said.
Number two cobalt exporter Glencore said its subsidiary Kamoto Copper had fully met its obligations under the mining code, adding that the discrepancy reflected competing interpretations of when the law took effect.
It added that its 0.3% community levy was calculated on half-year revenues and validated by auditors and the local development agency.
“Practically, 70% of the companies did not respect this regulation, and it’s an enormous loss of earnings for the Congolese state,” said attorney general Jean Chris Mubanga Musuyu in response to questions about the report’s findings.
The Court of Auditors recommended that the government suspend non-compliant firms and pursue prosecutions, mandate revenue audits and enforce stricter oversight.
Average annual income in Congo, which also has vast reserves of lithium, uranium and other minerals, is about US$580 per person.
Conflict with Rwanda-backed M23 rebels in the mineral-rich east has killed thousands this year and displaced hundreds of thousands.
Civil society groups pushed for the 0.3% levy to channel funds directly to mining communities, bypassing central bureaucracy, to drive local development.
“The idea was to see how we can turn mining into a tool for uplift, not just extraction,” said Emmanuel Umpula Nkumba of Lubumbashi-based nonprofit AFREWATCH.
“If this is well managed, it will improve lives on the ground.”
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09 October 20252 min readDr Congo Mining Firms Underreported Us$16.8 Billion In Revenue
Africa Mining Market
09 October 2025
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Dr Congo Mining Firms Underreported Us$16.8 Billion In…Mining companies operating in the Democratic Republic of Congo underreported US$16.8 billion in revenue between 2018 and 2023, a state audit found, potentially reducing funds for the government and local communities.
Under Congo’s 2018 mining code, firms must contribute 0.3% of annual revenue to community development funds that typically support schools, clinics and water systems.
Congo, a top cobalt and copper producer, both critical for battery production, is among the world’s poorest countries.
The discrepancy resulted in US$50.4 million in lost contributions to development funds, the report said.
CMOC’s TFM, Glencore’s Kamoto Copper, Ivanhoe’s Kamoa-Kakula mine, SICOMINES, Eurasian Resources Group’s Metakol and Ruashi Mining collectively underreported US$10 billion, it said.
Number two cobalt exporter Glencore said its subsidiary Kamoto Copper had fully met its obligations under the mining code, adding that the discrepancy reflected competing interpretations of when the law took effect.
It added that its 0.3% community levy was calculated on half-year revenues and validated by auditors and the local development agency.
“Practically, 70% of the companies did not respect this regulation, and it’s an enormous loss of earnings for the Congolese state,” said attorney general Jean Chris Mubanga Musuyu in response to questions about the report’s findings.
The Court of Auditors recommended that the government suspend non-compliant firms and pursue prosecutions, mandate revenue audits and enforce stricter oversight.
Average annual income in Congo, which also has vast reserves of lithium, uranium and other minerals, is about US$580 per person.
Conflict with Rwanda-backed M23 rebels in the mineral-rich east has killed thousands this year and displaced hundreds of thousands.
Civil society groups pushed for the 0.3% levy to channel funds directly to mining communities, bypassing central bureaucracy, to drive local development.
“The idea was to see how we can turn mining into a tool for uplift, not just extraction,” said Emmanuel Umpula Nkumba of Lubumbashi-based nonprofit AFREWATCH.
“If this is well managed, it will improve lives on the ground.”
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Africa Mining Market
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09 October 20252 min readDr Congo Mining Firms Underreported Us$16.8 Billion In…
Africa Mining Market
09 October 2025
mining