Market News

Mining Weekly | Africa

12 May 2026

• Barrick’s Zambia copper expansion highlighted, more high gold price captured
  Construction at the Lumwana super pit copper expansion in Zambia continued to advance on time and on budget during first quarter of 2026, gold and copper mining company Barrick reported on Monday, 11 May. The initial lift of the mill building wall in the central African country was completed in the period, with mill shells delivered to site and the first loads of structural steel expected in the three months ending June 30.
• Ekapa mine placed on market as liquidators seek investor to preserve operations
  The joint provisional liquidators of Ekapa Minerals and Ekapa Resources have launched a formal process to sell the Ekapa Diamond Mine, targeting both domestic and international investors, as efforts intensify to preserve the operation as a going concern. Located in Kimberley, the mine is a fully permitted asset comprising both surface and underground mining operations. It includes about 140-million tonnes of tailings mineral resources, a 9.6-million-tonne-a-year processing plant and three kimberlite pipes – Du Toits Pan, Bultfontein and Wesselton – which form part of the well-known “Famous Five” cluster.
• Caledonia benefits from high gold price, despite lower first-quarter output
  Aim-listed Caledonia Mining has reported that the group’s financial performance in the first quarter ended March 31 benefitted from a higher gold price, which offset the impact of lower production. In its quarterly results, Caledonia reports that revenue increased by 18.3% to $66.43-million, compared with $56.18-million in the first quarter of 2025, driven primarily by a significantly higher average realised gold price.