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Some of the most promising ASX-listed miners are based in Africa

Published: 12:39 09 May 2022 AEST

Some of the most promising ASX-listed miners are based in Africa

Africa’s vast lands, spread across 54 countries, are rich with minerals.

The exploration, mining, development and production of these minerals make up significant parts of the gross domestic product for many countries and the continent as a whole.

The continent contains the highest amount of reserves for several minerals, including cobalt, platinum group elements (PGEs) and bauxite.

And for Australian investors, there are more than 170 ASX-listed companies active in the region across 35 countries.

Australia and Africa

The Department of Foreign Affairs and Trade says investment in Africa is thriving, particularly in the resources sector.

“We are leading the Government's economic diplomacy agenda bringing together Australia's foreign affairs, trade, development and other international economic activities, to deliver greater prosperity for Australia, our region and the world,” it says.

“Australia has a clear national interest in the security, stability and prosperity of Africa.

“Australia has a clear national interest in the security, stability and prosperity of Sub-Saharan Africa.

African countries are important in global economic and political terms, including in relation to economic growth, trade liberalisation, agricultural productivity and food security and addressing trans-national crime.

“Many African economies are growing, presenting increasing opportunities for trade and investment-led development gains.

“Australia is developing strong economic partnerships with African states, including through targeted development assistance.”

ASX-listed companies active in Africa

Golden Rim Resources Ltd

Golden Rim Resources Ltd (ASX:GMR) recently released the maiden 930,000 gold resource at the Kada Joint Venture in Guinea and has more upside from the 15-kilometre Kada Gold Corridor.

The company’s 5000-metres RC drilling at the corridor started in early April with the first assays expected this month.

The West African explorer’s interest in Kada is now 51% and the company has also exercised its right to a third earn-in, which will bring its interest up to 75%.

Golden Rim also holds the 2 million ounces Kouri Gold Project in Burkina Faso.

West Wits Mining Ltd

An exploration and development miner, West Wits is targeting gold in the Witwatersrand region in South Africa. Its aim is to transition to a mid-tier gold producer from its flagship Witwatersrand Basin project in the region, which contains a mineral resource of 4.37 million ounces of gold at 3.88 g/t.

Kinetiko Energy Ltd

Solely focused on sandstone gas and coal bed methane exploration and commercialisation in South Africa, Kinetiko this month secured an investment from prolific South African energy investor Phefo Power, as it launched a $3.1 million rights issue.

Tietto Minerals Ltd

The Abujar Gold Project in Côte D’Ivoire, West Africa, is Tietto’s pride and joy, thanks to its multi-million-ounce gold resource. It is targeting first gold production before 2022 ends, having recently set up a semi-autogenous grinding (SAG) mill, while the team is clearing the topsoil to place the tailings storage facility.

Mako Gold Ltd

Situated in the West African Biriman Greenstone Belts - which host north of 70 deposits that contain more than one million ounces of gold - Mako Gold is advancing its flagship Napié Gold Project in Côte d’Ivoire. This week it struck further gold at the site, raising hopes the company’s existing resource could be extended.

Perseus Mining Ltd

A certified gold producer, Perseus owns three producing gold mines in Africa: Edikan in Ghana and Sissingué and Yaouré in Côte d’Ivoire. Combined, the three mines have produced more than 371,000 ounces of gold in the 2022 financial year so far, as the company closes in on its annual production target of 500,000 ounces.

Theta Gold Mines Ltd

Holding a range of gold assets in the famed Eastern Transvaal Gold Fields of South Africa, Theta plans to be a leading gold producer in the country. It has reached the Environmental Impact Assessment (EIA) phase of its process to commence the TGME Underground Project, which comprises the Beta, Frankfort, CDM and Rietfontein gold mines.

BlackEarth Minerals NL

The Maniry Graphite Project is in southern Madagascar is the flagship project of BlackEarth Minerals. Last month the company completed diamond drilling, which verified the continuity of graphite mineralisation along strike.

Oklo Resources Ltd

Another gold explorer, Oklo holds around 1405 square kilometres of land covering highly prospective greenstone belts in Mali, West Africa. The latest drilling results from its flagship Dandoko project were impressive, with high-grade mineralisation of up to 22 g/t of gold.

Apollo Minerals Ltd

Focused on the Kroussou zinc-lead Project in Gabon, Apollon recorded its strongest ever mineralisation at the project this month, with a 60-metre shallow zinc-lead hit. The company has two diamond drill rigs active on-site targeting further step-out expansions at Dikaki with more assays expected in the coming weeks.

Polymetals Resources Ltd

Significant progress has been made since Polymetals listed on the ASX in June last year, with the company acquiring a range of gold projects in Guinea. It is currently conducting aeromagnetic surveys, which are expected to provide detailed data to determine the structural controls on mineralisation and information on the nature and disposition of host rocks obscured by lateritic cover.

Arrow Minerals Ltd

Deep in an aggressive exploration campaign in Burkina Faso, Arrow Minerals this month identified the presence of a gold target through geochemical soil sampling at Kordie Prospect of the Vranso Project in Burkina Faso and will undertake further work to determine the extent of the anomaly.

Orion Minerals Ltd

Seeking to create a foothold in the energy transition from its base in South Africa, Orion is in talks with the Central Energy Corporation (CENEC) to include its flagship Prieska Copper-Zinc Project in a large-scale renewable energy hub.

Lotus Resources Ltd

The owner of a 65% interest in the Kayelekera Uranium Project in Malawi, which hosts a current resource of 37.5 million pounds of uranium oxide, Lotus is looking to position itself as a world-leading uranium producer.

Marvel Gold Ltd

A Mali-focused gold explorer, Marvel has assembled a portfolio of five gold projects in Mali through a mix of acquisitions and joint ventures. Tabakorole is the most advanced, with an existing resource of 910,000 ounces grading 1.2 g/t gold with opportunities to expand along strike and via regional exploration.

Predictive Discovery Ltd

After recently recording a whopping 41.5-metre hit grading 5.2 g/t gold during diamond drilling at its flagship Bankan Gold Project in Guinea, Predictive Discovery is looking to increase its already-impressive 3.65 million-ounce gold resource.

Evolution Energy Minerals Ltd

Focused on the advanced and development-ready Chilalo Project in south-east Tanzania, Evolution Energy recently released survey results showing potential for graphite at the mine and production expansions.

- Daniel Paproth

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