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Construction of road to Tulu Kapi in 2025. (Image source: KEFI) 

London-listed KEFI has closed a US$240mn debt financing to proceed with a pipeline of projects in Ethiopia, including the Tulu Kapi gold mine, as well as to pursue additional ventures in Saudi Arabia
 
The Tulu Kapi gold mine project will tap into power supplies from the recently-inaugurated Grand Ethiopian Renaissance Dam (GERD), the largest hydro-electric scheme in Africa.
 
The Ethiopian Electric Power Company is currently connecting the mine to the mains grid generation facilities at the dam, KEFI said in an update, which will include a new 132kV overhead power line via a substation at Gimbi town.
 
The maximum demand for the Tulu Kapi plant is estimated to be 15 MW, with a normal operating demand of approximately 10 MW.
 
An emergency diesel power plant will also be installed to provide backup power to start up and run the operation as insurance in case of any unexpected failure to deliver by EEPCO, according to KEFI, although it added that it does not expect to have to use the standby facility.
 
In a statement, the company noted that Tulu Kapi is the closest industrial-scale electricity consumer of the GERD, which it said was “excellent for reliability of low-cost green energy”.
 
The Tulu Kapi gold deposit was first discovered and mined on a small scale by an Italian consortium back in the 1930s.
 
KEFI executive chairman, Harry Anagnostaras-Adams, said the new debt offering has triggered further activity at the site ahead of full project development.
 
“With the gold price at a record high, this is the perfect time to be launching Tulu Kapi,” he said.
 
Mining contractors have been at site planning for operations in 2027, with the bulk earthworks — for an airstrip and other initial works — set to commence in early 2026 after the government has resettled households in the area.
 
The process plant contractor has also been at the site planning security and logistics for the delivery of components, which are currently being procured.
 
The US$240mn loan agreement was signed with the Africa Finance Corporation and the Trade and Development Bank.
 
KEFI has previously stated that the full development of the mine could be in the region of US$340mn, which means it must still raise a further US$100mn although some this is expected to come from a mix of equity, as well as support from the Ethiopian government.
 
During construction at Tulu Kapi, the company also hopes to enhance its portfolio of gold and critical material licences and applications elsewhere in Ethiopia, as well as various projects in Saudi Arabia, across the Red Sea.
 
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Site geotechnical studies and piling works at Nyanza Light Metals in South Africa. (Image source: Nyanza Light Metals)

South Africa-based Nyanza Light Metals Pty Ltd (Nyanza) is to get US$75mn in funding from the African Development Bank Group (AfDB) for the development, construction and operation of an 80,000-tonnes-per-year titanium dioxide pigment manufacturing plant and supporting infrastructure within the Richards Bay Industrial Development Zone
 
The aim is to boost industrialisation in Africa through local value addition to the continent’s abundant titanium mineral resources.
 
Titanium dioxide is a crucial pigment used across numerous industries, including paints and coatings, food processing, cosmetics and medical applications.
 
Manufacturers both in South Africa and across the rest of the region rely almost entirely on costly imports.
 
Nyanza’s project is intended to change this by producing titanium dioxide locally, contributing to import substitution and positioning Africa within the global titanium dioxide value chain.
 
“AfDB’s approval marks a pivotal moment, not just for Nyanza, but for Africa’s industrial future,” said Nyanza president and CEO, Donovan Chimhandamba.
 
“This endorsement affirms our mission to lead mineral beneficiation and positions Nyanza as a driver of inclusive industrialisation.”
 
Africa has long exported raw minerals, only to import back high-value finished products made from those same resources, at a premium, according to Chimhandamba.
 
“This cycle has constrained industrial growth and limited the continent’s ability to fully benefit from its natural wealth. With AfDB’s support, we are changing that by building a world-class titanium beneficiation complex to process African minerals locally for global markets.”
 
The bank’s contribution forms part of a syndicated funding package arranged by the Africa Finance Corporation and the African Export-Import Bank, serving as Initial Mandated Lead Arrangers and Bookrunners.
 
The AfDB’s support also includes US$25mn from the Africa Growing Together Fund (AGTF), a co-financing initiative between the AfDB and the People’s Bank of China.
 
A key focus of the Bank’s funding is job creation: the Nyanza project is expected to generate more than 2,400 domestic jobs during construction, around 30% of which will be reserved for women and 30% for youth, as part of efforts to reduce unemployment in South Africa.
 
“This investment reflects the African Development Bank's commitment to driving Africa’s industrial transformation and changing Africa’s narrative from a continent that is heavily dependent on raw material exports to one that is globally recognized as a prominent player in domestic value-addition to its natural resources,” said Solomon Quaynor, AfDB’s vice president for private sector, infrastructure and industrialisation.
 
“By supporting Nyanza to invest in infrastructure and local natural resources beneficiation, we are contributing to changing Africa’s old paradigm of exporting low-value raw materials while relying heavily on importing finished products; we are building an industrial economy that will create inclusive opportunities for millions of people across the continent.”
 
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Sandvik unveils DataDrive’31, a six-year, €80 million programme to boost mining productivity, safety, and sustainability globally. (Image source: Sandvik)

Sandvik has unveiled DataDrive’31, an ambitious technology programme designed to accelerate the digital transformation of the mining sector through data-driven innovation

The six-year initiative carries a total budget of EUR 80 million (approx. US$87.2mn). Business Finland has approved EUR 16 million (approx. US$17.4mn) in R&D funding for the first three-year phase, with the potential to allocate an additional EUR 16 million (approx. US$17.4mn) for the second phase. The remainder will be directly financed by Sandvik, reflecting its strong commitment to technological advancement and the digitalisation of mining operations. A mid-term review will take place after three years to assess progress before moving into the next stage.

DataDrive’31 aims to develop innovative data-based technologies and solutions that improve productivity, safety, and sustainability across the entire mining value chain. Its key goals include:

  • Creating new services and products by utilising and commercialising data.

  • Integrating data-driven systems into equipment, operations, and aftermarket services to deliver comprehensive digital solutions.

  • Developing predictive and prescriptive operating environments that foster smarter, safer, and more sustainable mining practices.

“DataDrive’31 is at the forefront of the technological transformation of the mining industry,” said Mats Eriksson, president, mining at Sandvik. “Business Finland’s support accelerates our planned R&D work in key technology areas and strengthens our competitiveness in global markets. The strong technological expertise of Sandvik in Finland forms the foundation for this investment. DataDrive’31 is a key driver for the growth of our mining business and demonstrates our commitment to leading the industry’s data-driven future.”

Sandvik has a long-standing tradition of significant investments in R&D, digitalisation, automation, and electrification. Building on this foundation, DataDrive’31 reinforces Sandvik’s position as a leader in mining technology, ensuring it continues to deliver innovative, future-ready solutions for customers worldwide while driving sustained industry leadership.

Tharisa Mine begins phased underground expansion to enhance efficiency

Tharisa, dual-listed on the Johannesburg and London stock exchanges, is transitioning the Tharisa Mine from a large-scale open pit to underground mining

This natural progression will sustainably access the mine’s multigenerational mineral resource base while enhancing operational efficiency, environmental stewardship, and long-term value creation.

The mine’s mineral reserves extend beyond the open pit shell, presenting a high-confidence, low-geological-risk opportunity to sustain operations for over 50 years. Existing processing facilities have a capacity of 5.6 Mtpa of run-of-mine (ROM), ensuring both production scalability and operational flexibility. Open pit operations are scheduled to be depleted by FY2035.

From 2031, underground ore from the West Mine (Apollo Complex) and East Mine (Orion Complex) will supplement production. Both complexes, developed sequentially, are designed to mine 255 ktpm each at steady state, combining for 510 ktpm, capped by plant feed capacity.

This underground expansion will maintain current PGM and chrome concentrate output, with opportunities for growth through smarter mining and reduced dilution. The project will operate under a mining contractor model, with transitional capital of US$547 million over ten years and peak funding of US$173 million, financed via internal cash and external funding lines.

Phoevos Pouroulis, CEO of Tharisa, said: “The underground project is the natural progression for our operations and has been established to increase life-of-mine development, enhance operational efficiencies, while maintaining our world-class standards of health, safety, environmental stewardship, and further enhancing our track record of long-term value creation.”

He added: “Our shallow ore body enables on-reef mechanised development, delivering cleaner ROM and significantly reducing waste, capital intensity, and environmental impact. The phased approach to portal development enables early access to reef with the bord-and-pillar design supporting safe, cost-effective ramp-up and long-term operational efficiency. As we continue to innovate with purpose, we are setting the benchmark for multiple generations to come.”

Condra jib crane (Image source: Condra)

South Africa’s Condra has received “multiple orders” to manufacture cranes, hoists and other lifting equipment for mine expansion projects in Sierra Leone, Tanzania and Namibia

The orders were placed by consulting firms in Canada and Australia, but non-disclosure agreements mean neither the customers nor the mines can be named.

The value was also not disclosed by Condra, which will execute the orders at its Johannesburg factory.

In a statement, Condra said the cranes will work in general workshop and feeder-line maintenance applications, with capacities ranging from two to eighteen tons.

Sierra Leone’s order comprises one long-reach jib crane, three single-girder overhead cranes and a portal crane, while Tanzanian mines will receive two double-girder cranes, a single-girder machine, one portal crane and a long-reach jib crane.

Six Titan hoists, among them several fitted with articulated carriages to negotiate curved girder tracks, will go to Namibia along with two portal cranes, a long-reach jib crane, two single-girder cranes and a double-girder machine. Fifteen chain hoists and blocks will also be shipped to Namibia.

Condra’s Titan hoist range is versatile, comprising the Compact Series with capacities to 32 tons, and the SH (Short-Headroom) Series with capacities to 18 tons. All models are variants of the veteran K-Series hoists, but refined to offer a more compact profile with reduced overall dimensions.

Among the cranes included in the international orders are several equipped with high-lift K-Series hoists, in one instance to a height of 40 metres. These hoists have a proven record in high-lift applications. The company’s installed base includes hoists with controlled lifts as high as 150 metres.

A Condra spokesman said there had been “close cooperation” with the consultants to ensure that agreed prices could remain competitive without compromising the robust reliability required for harsh operating conditions.

Overall lifetime cost will remain lower than cranes offered by rival firms, said the spokesman, while inspection and testing will take place at defined stages during manufacture to ensure compliance with international quality control, safety and lifting equipment standards.

Manufacturing is now underway at the company’s Germiston factory, with delivery to be carried out by road. A number of crane girders will be spliced to allow packing in standard 12-metre containers.

Shipping dates will be staggered to meet project timetables, with delivery scheduled for late 2025 through to mid-2026.

Technicians from Condra will then manage installation and commissioning in Sierra Leone, while local agents will carry out this work in Tanzania and Namibia.

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