Pietro Guj, Richard Schodde, Boubacar Bocoum and James Cust MINERAL RESOURCES of Africa MINERAL RESOURCES of Africa Pietro Guj,1 Richard Schodde,1, 2 Boubacar Bocoum3 and James Cust3 May 2025 1 Centre for Exploration Targeting, The University of Western Australia 2 MinEx Consulting 3 World Bank Group © 2025 International Bank for Reconstruction and Development / The World Bank 1818 H Street, NW Washington, DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org This work is a product of the staff of the World Bank Group with external contributions. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of the World Bank Group, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy, completeness, or currency of the data included in this work and does not assume responsibility for any errors, omissions, or discrepancies in the information, or liability with respect to the use of or failure to use the information, methods, processes, or conclusions set forth. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgment on the part of the World Bank Group concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Nothing herein shall constitute or be construed or considered to be a limitation upon or waiver of the privileges and immunities of the World Bank Group, all of which are specifically reserved. Rights and Permissions The material in this work is subject to copyright. Because the World Bank Group encourages dissemination of its knowledge, this work may be reproduced, in whole or in part, for non-commercial purposes as long as full attribution to this work is given. Any queries on rights and licenses, including subsidiary rights, should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@ worldbank.org. Cover design: Circle Graphics, Inc. TABLE OF CONTENTS Preface vii Executive Summary ix Acknowledgements xiii List of Acronyms xv List of Tables xvii List of Illustrations xxi About the Authors xxv Disclaimer xxvii 1. INTRODUCTION 1 Objective and scope of this publication 1 Structure of the report 1 Sources of mineral deposits data 2 Africa as a source of critical minerals 3 Chapter 1 Bibliography 6 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA 7 Geological history of the African continent 7 Metallogenic epochs and distribution of African metallogenic provinces 10 Archean 12 Paleoproterozoic 12 Mesoproterozoic 13 Neoproterozoic and Early Paleozoic 13 Hercynian (Variscan) 14 Permian-Triassic 14 Cretaceous-Paleogene 14 Late Miocene-present 15 History of major mineral discoveries and mine developments in Africa 15 Early mining 15 Mineral exploitation in the colonial era 16 Post-World War II development and nationalization 16 Globalization and privatization of the African mining industry 17 The future of the African mining industry 18 Chapter 2 Bibliography 18 | iii iv | MINERAL RESOURCES OF AFRICA 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT 21 General considerations 21 Regional distribution of African mineral resources 24 West Africa 28 North Africa 32 East Africa 35 Central Africa 39 Southern Africa 43 African mineral endowment by commodities 49 Base metals (copper, zinc, lead) 51 Precious metals (gold, platinum-group elements, silver) 61 Ferroalloy minerals (manganese, chromium, nickel, vanadium) 81 Battery metals/minerals (lithium, cobalt, graphite) 100 Specialty metals (tantalum, tin, tungsten) and rare earths elements 122 Energy minerals: coal and uranium 140 Heavy minerals sands (ilmenite, rutile, zircon) 150 Fertilizer minerals (phosphate rock, potash) 155 Chapter 3 Bibliography 162 4. MINERAL POTENTIAL OF AFRICA 163 Global and African mineral exploration trends 163 Geological assessment of African regional mineral prospectivity 180 General considerations 180 West Africa 181 North Africa 191 East Africa 196 Central Africa 200 Southern Africa 203 Chapter 4 Bibliography 210 5. MINERAL EXPLORATION AND MINING IN AFRICA: KEYS TO ENABLING TRANSITION TO CLEAN ENERGY 213 Impact of clean energy transition on demand for minerals and likely supply responses 213 Strategies to increase mineral supply 215 Improving capacity utilization and expanding the capacity of existing mining operations 215 Progressive better delineation and reassessment of the resources of existing deposits 216 Development of new mines from the existing projects pipeline 217 Mineral exploration 218 Chapter 5 Bibliography 233 6. CONCLUSION 235 Table of Contents | v APPENDICES 239 Appendix A: Overview of MinEx “African minerals deposit” database 239 General database structure 239 Sources of information 241 Database coverage and definitions 241 Appendix A Bibliography 249 Appendix B: List of Significant Mineral Deposits in Africa - Sorted by Commodity 250 Appendix C: World and African mineral discoveries and exploration expenditure data 335 Alphabetic list and essential details of major African mineral deposits listed by primary metal only. 337 Sources 350 MINERAL RESOURCES of Africa PREFACE “Ex Africa semper aliquid novi” Nothing has changed! As Pliny the Elder said almost 2,000  years ago there is “always something new from Africa”. This book is intended to foster new mineral exploration discoveries and mine developments in Africa by revisiting the state of the continent’s mineral resources. Geological prospectivity is the most significant driver of investment in mineral exploration and mining. Fundamental to this is the collation of reliable, comprehensive and—above all—geoscientific data that is easily accessible to industry to inform new geological interpretations and stimulate new exploration strategies, particularly to enable the supply of minerals needed for the transition to the low-carbon economy. A perception of prospectivity is also enhanced by a country’s history of exploration discoveries and successful mine developments. As an exhaustive record of these successes, Mineral Resources of Africa substantiates the perception of the African continent as being blessed with an extraordinary but relatively under-explored mineral endowment. This publication is intended to provide a wider audience with the opportunity to access updated information on 1,888 significant mineral deposits located in Africa. It fills a critical information gap on the continent’s current and potential future mineral endowment—including for battery minerals—for mining industry professionals, governments and academia. It is also intended to support African governments with information to identify new opportunities and formulate effective exploration strategies to enable exploration for minerals in demand for the low-carbon economy. The publication outlines metallogenic epochs and provinces underpinning the geological assemblages for the continent of Africa. It then overlaps the associated types of mineral deposits with their sizes, mineral content (for both primary and byproducts), and subregional and country-specific distribution. It compares Africa and its five subregions to the world in terms of mineral endowment, exploration expenditure and discovery costs. | vii viii | MINERAL RESOURCES OF AFRICA The mineral deposits are categorized into four tiers based on their size, quality of resources and potential to become profitable, and they are broadly assessed for their potential gross mine value. This publication considers why some known large and potentially valuable deposits—particularly of bulk materials—are still undeveloped, when this would not be the case in a high-income country context, and possible circumstances and strategies whereby their exploitation may be accelerated. The authors propose possible future exploration strategies and opportunities based on broad regional geological considerations to unlock Africa’s true potential for mining and metals. Further exploration will enable Africa’s supply of critical mineral resources needed for the energy transition and the sustainable economic and social betterment of its people. Demetrios Papathanasiou EXECUTIVE SUMMARY This review of the mineral endowment of Africa was carried out using an African subset of MinEx Consulting’s comprehensive Global Mineral Deposits database. Deposits are categorized using several criteria, of which two are fundamental. The first is their “size” based on their primary and byproduct metal contents, expressed as primary metal equivalents. In ascending order, the sizes are classified as “minor”, “moderate”, “major” and “giant”. Deposits that are moderate to giant in size are considered “significant”. A giant deposit, for instance, may contain more than 6 million ounces of gold, or 5 million metric tons (Mt) of copper or 500 Mt of iron. As of August  2024, the African component of the MinEx’s database contained information on 1,888 individual “significant” deposits hosted by the continent. Of these deposits, 586 are currently operating mines and 539 are deposits at various stages, from advanced exploration to pre- feasibility/ feasibility, to the development/construction stage. The remaining deposits are closed mines, or operations placed under care and maintenance. The second fundamental criterion is the “quality” of the deposit. This captures the grade of the deposit, and other mining, processing and infrastructural characteristics likely to influence its commercial viability. The MinEx database quantifies and formalizes use of the “tier” system previously used by the mining industry, mainly in a colloquial way. The four tier categories of primarily major and giant size mineral deposits (that is Tier 1 to 4) are recognized in the database, alongside many less important “unclassified” deposits. Tier 1 includes “company-making” long-lived mines that are large, low-cost and profitable during the whole of the commodity market cycle and, consequently, are very valuable (generally worth more than $1 billion and on average $2 billion in constant US dollars as of 2013 values). There are currently 94 Tier 1 deposits in Africa. Tier 2 deposits—while economically attractive and profitable in all but the very bottom of the business cycle—are not quite as large or long lived or profitable, as they only meet some of the Tier 1 criteria. Accordingly, their value is in the $200 million to $1  billion range, averaging about $500 million. Tier 3 deposits are smaller, generally marginal deposits that can be profitable during the top of the business cycle or if developed as satellites to an existing operation. Their risk-adjusted net present value (NPV) averages around $80 million, within a $0 to $200 million range. Of course, being averages these value estimates bear no direct relation to the profitability and/or economic benefits that will be generated by the individual deposits: this depends largely on their specific capital, operating and tax costs, which may vary from jurisdiction to jurisdiction. There are currently 195 Tier 2 and 576 Tier 3 deposits in Africa. The African continent is also blessed by the variety and world importance of its resources. These include, besides platinum-group elements (PGE) (76.3  percent of current total world resources) | ix x | MINERAL RESOURCES OF AFRICA and industrial diamond (40.8  percent), a dominant position in ferroalloy metals such as cobalt (50.5  percent) and manganese (66.4  percent). Some of these metals, together with vast resources of graphite (57.0 percent) and undeveloped resources of lithium have become critical inputs for the rapidly growing electric vehicle (EV) battery industry. In addition, the continent also hosts the world’s largest resources of phosphate rock (59.5 percent) and bauxite (56.1 percent), as well as important deposits of iron ore, heavy mineral sands, salt and potash, and energy minerals such as coal and uranium. Within Africa, the Southern Region—with 286 out of 586 (48.8 percent) of currently operating mines, 62.7 percent of their total gross mine-site value and just under a third of as-yet undeveloped deposits— clearly dominates the continent. By contrast, East Africa (with 11.9 percent and 2.5 percent respectively) is the lowest producer. At this stage of its exploration history, East Africa is also the least endowed but not necessarily the least prospective region. A perception of high prospectivity and relatively attractive regulatory and fiscal regimes has seen significant mineral exploration and mine development taking place in West Africa in recent decades, raising its endowment to 25.3 percent of the deposits but only 9.5 percent of total mine-site value. North Africa’s long history of mining production is reflected in its ranking second after Southern Africa in term of the gross value of resources of currently operating mines at 19.1 percent of the total, but this appears to be growing less attractive for mineral exploration because of its incipient maturity and current inventory of undeveloped projects, with the possible exception of Morocco. Realization of the economic benefits to improve the continent’s standard of living of course depends heavily on the identified resources being promptly developed and put into production. The historical record shows that the vast majority (about 96 percent) of African Tier 1 deposits are highly economically competitive and capable of displacing marginal producers elsewhere. As a result, they tend, with few notable exceptions, to be developed. However, there is an average time gap of around 16 years between their discovery and development. This rises to just under 20 years if gold and diamond deposits—which do not require significant metallurgical and transport infrastructure and generally display rapid payback periods—are excluded. The historical rate of development falls to 80 percent for Tier 2 deposits and 52 percent for Tier 3, with average time gaps of just under 19 years and 29 years respectively. For a variety of reasons some African deposits often take many decades before being developed. This situation would likely differ if such deposits were discovered in several other regions of the world. In addition, some of the size estimates should be considered as conservative. The resources of many— particularly structurally complex—deposits have a tendency to grow after their discovery and subsequent development, with progressively better delineation and resources re-classification in response to changes in the unit price of their commodity and their cost of production. These are the so-called “modifying factors”. In the last couple of decades, the continent has only attracted on average around 10 percent of total world exploration expenditure, which in 2023 amounted to $1.39  billion out of the global total of $15.86  billion. This appears to be a significant under-investment, given that the continent covers around 22 percent of the world’s land mass (excluding Antarctica) and that 542 exploration discoveries Executive Summary | xi have been made in Africa in recent times (around 25 percent of the total). These included 40 Tier 1 and 2 deposits (21 percent of world total), which places the continent ahead of Australia, highlighting its prospectivity. An assessment of the various African regions’ prospectivities was carried out qualitatively (relying on the judgement of selected geological experts) and quantitatively (by rationing the historical exploration investment by the number of discoveries and metric tons of metal found). Not surprisingly, specific terranes in traditional mining districts—particularly in Southern and Northern Africa regions—have reached a degree of maturity. Yet very significant, world-class discoveries of gold, diamond, PGE and copper continue to be made in long-established mining districts such as the Bushveld Complex and the Copperbelt region of Zambia and of the Democratic Republic of Congo. In the current century, however, an increasing proportion of the continent’s mineral discoveries have been made in the West, Central and East Africa regions. The growing perception that these regions have significant potential and are underexplored is reflected, for instance, by Western Africa attracting $622 million in exploration investment in 2023 (44.7 percent of the total budget for Africa of $1,391 million), with Central Africa second with $242 million, or 17.0 percent of the African total. Some of these successes are no doubt attributable to significant efforts by local Geological Surveys with the support of international agencies to improve the quality and availability of their geoscientific databases. This has led to a perception in the eyes of potential foreign investors that the countries have high prospectivity. Nonetheless, the fact that the bulk of recent mineral discoveries were of gold—and subordinately diamond—deposits reflects the large proportion of exploration budgets being devoted to these commodities, to some degree at the expense of other deserving commodities. There are two main reasons for this imbalance. First, compared to other base and bulk minerals, these precious minerals require less complex metallurgy for their commercial exploitation, and significantly lower initial capital investment, in part because of their lower reliance on transportation infrastructure. This is particularly true in land-locked countries. This results in shorter development lead times and easier marketing. Second, given the long life of mining projects and their large upfront capital investments, foreign direct investment (FDI) is naturally attracted to jurisdictions that are politically stable with low chance of conflict, and an acceptable level of corporate and personal security. Such jurisdictions also usually feature legal, regulatory and fiscal regimes that are stable and equitable, enforced by government institutions that conduct their affairs in a fair, transparent, and consistent manner. Unfortunately, the fact that some African jurisdictions are experiencing conflict and politically instability, and have unattractive regulatory regimes, has to some degree influenced mining companies’ willingness to invest in other African jurisdictions, irrespective of their geological potential and more reasonable mineral governance. The negative perception of country risk in most African jurisdictions is reflected in the 2023 Frazer Institute Survey, which deservedly placed Botswana as the most attractive country in Africa in terms of its Investment Attractiveness Index, at 15th (out of 86 jurisdictions) followed by a much-improved Morocco now ranking 27th, but four other jurisdictions are consistently among the bottom ten globally. xii | MINERAL RESOURCES OF AFRICA Adequately funded Geological Surveys that systematically map the geology of their countries at the regional scale—highlighting their fundamental lithological, stratigraphic, tectonic and metallogenic framework—will not only attract investment but also enable governments to act strategically with regard to development of their resources. A comprehensive and easily accessible geoscientific database enables mining companies to identify areas of mineral potential, formulate their mineral exploration models and strategies, and secure exploration tenements over them. Regional geological studies can usefully encompass a range of modern geophysical techniques to collect magnetic, radiometric, gravity, seismic and electromagnetic data that should be captured in comprehensive Geographic Information Systems (GISs). GISs would ideally include progressive and complete digitization of both “legacy” geological information still held in paper—or, at best, in microfilm form—and significant amounts of geoscientific information continuously generated and reported as a condition of title, after a short embargo by mineral exploration and mining companies active in the country. All information should be made freely available in open data formats to government, civil society, and potential explorers internationally through well-structured and easily navigable open access websites with data download options, with their availability actively advertised as new information packages are progressively released, and with details of officers to contact for further information and assistance. ACKNOWLEDGEMENTS The authors wish to express their profound gratitude to Professor Franco Pirajno of the Centre for Exploration Targeting (CET) at the University of Western Australia for his expert contributions to the qualitative discussion about Africa’s mineral prospectivity and editing of the book. Our thanks also go to Professor Mark Jessell of the CET for his help with the excellent background cartography of African nations in Chapter 4 and 5, and to Dr. Nicolas Thebaud, also of the CET, for his valuable contribution to the section dealing with the geological prospectivity of the West Africa region. Our sincere gratitude also goes to Dr. Theophilus Aanuoluwa Adagunodoa of the Covenant University in Nigeria, for allowing the reproduction of his Tectonic Map of Africa; to the Commission for the Geological Map of the World and indirectly Dr. Olivier Dauteuil, Dr. Jaques Bouffette and Dr. Felix Toteu, for permission to reproduce the Simplified Geological Map of Africa appearing in their The Changing Faces of Africa book; to Dr. Susan Frost-Killian, Dr. Sharad Master, Dr. Richard P. Viljoen and Dr. Michael G.C. Wilson for allowing reproduction of their excellent structural and metallogenic maps of Africa; and to Professor Mohammed Buoabdellah and John F. Slack for allowing the reproduction of their metallogenic map of Northern Africa, Mineral deposits of North Africa. We also acknowledge the excellent material collated by John Sykes of Greenfield Research and a strategist at MinEx Consulting on “battery metals,” and particularly his review of the metallogeny and processing of lithium. Our special thanks also go to Yash Pandey, Senior Director at S&P Global Market Intelligence, for supporting this study and allowing access to S&P’s exploration expenditure and general resource data for use in the chapter dealing with Africa’s mineral prospectivity. The authors would like to thank Nneoma Nwogu for her contributions to this report, and peer reviewers Remi Pelon, Francisco Delgado, Javier Aguilar and Riccardo Fossa for their appreciated comments and suggestions. Any remaining errors are those of the authors. | xiii LIST OF ACRONYMS Acronym Definition AIM London Alternative Investment Market ASM Artisanal and small-scale mining ASX Australian Stock Exchange BIF Banded iron formation BRGM Bureau de Recherches Géologiques et Minières Bt Billion metric tons Btu British thermal unit CET Centre for Exploration Targeting, University of Western Australia CGMW Commission for the Geological Map of the World CMR Critical mineral resources DSO Direct shipment ore EIS Exploration Incentive Schemes EoL End of Life scrap EV Electric vehicle FDI Foreign direct investment GIS Geographic information system JORC Australian Joint Ore Reserves Committee Code JSE Johannesburg Stock Exchange Kt Thousand metric tons LCE Lithium carbonate equivalent LoM Life of mine MI&I Measured, indicated and inferred resources Ma Million years MNE Multinational enterprise MOz Million Troy ounces Mt Million metric tons NI 43101 Canadian National Instrument 43-101 NPV Net present value OECD Organisation for Economic Co-operation and Development PGE Platinum group elements P&P Proven and probable reserves PV Photovoltaic RIU Resources Information Unit ROW Rest of the world SAMREC South African Code for the Reporting of Mineral Resources and Mineral Reserves SDGs Sustainable Development Goal(s) t Metric ton TSX Toronto Stock Exchange | xv xvi | MINERAL RESOURCES OF AFRICA Acronym Definition USGS United States Geological Survey UWA University of Western Australia WBG World Bank Group Unless otherwise indicated all dollar amounts are US dollars, and all tonnages are in metric tons. LIST OF TABLES General size and Tier classification of mineral deposits. Table 1.1  3 Table 1.2  European Commission’s list of critical and strategic raw materials. 5 Table 3.1 Gross mine-site value of primary minerals and total resources including byproducts of currently operating African mines. 26 Table 3.2  Mine-site value of primary and total resources of undeveloped African mineral deposits broken up by Tier categories. 27 Table 3.3  Number of mineral deposits and their contained metal for the main mineral commodities in West Africa. 28 Table 3.4  Number of mineral deposits and their contained metal for the main mineral commodities in North Africa. 33 Table 3.5  Number of mineral deposits and their contained metal for the main mineral commodities in East Africa. 35 Table 3.6  Number of mineral deposits and their contained metal for the main mineral commodities in Central Africa. 40 Table 3.7  Number of mineral deposits and their contained metal for the main mineral commodities in Southern Africa. 43 Table 3.8  Mine-site value of undeveloped African mineral resources, broken up by commodity and Tier classification. 49 Table 3.9  Common copper minerals, their chemical formulae and copper metal content. 52 Table 3.10  Number of world and African copper deposits, their resources and reserves. 54 Table 3.11 Copper 2019 reserves and production in the world and in Africa, 2023. 55 Table 3.12  Break-up of the genetic type of 141 significant African copper deposits. 55 Table 3.13  Giant and major operating copper mines in Africa broken up by genetic type. 56 Table 3.14  Giant and major undeveloped copper deposits in Africa, broken up by genetic type. 57 Table 3.15  Number of zinc deposits in the world and in Africa, and their resources and reserves. 58 Table 3.16  Operating zinc mines in Africa. 59 Table 3.17  Undeveloped zinc deposits in Africa. 59 Table 3.18  Number of lead deposits in the world and in Africa, and their resources, and reserves. 60 Table 3.19  Number of gold deposits in the world and Africa, and their resources and reserves. 63 Table 3.20  Current (2023) African gold reserves and production in the world context. 64 Table 3.21  Main orogenic mesothermal operating gold mines in Africa. 65 Table 3.22  Main quartz pebble, placer/alluvial, and other types of operating gold mines in Africa. 67 | xvii | xviii MINERAL RESOURCES OF AFRICA Table 3.23 Major undeveloped African gold deposits of the orogenic mesothermal type. 69 Table 3.24 Major undeveloped African gold deposits of the placer/alluvial and other types. 71 Table 3.25 Number of PGE deposits in the world and in Africa, and their resources and reserves. 72 Table 3.26 PGE reserves and production, 2023. 72 Table 3.27 Main operating PGE mines in Africa. 73 Table 3.28 Main undeveloped PGE deposits in Africa. 74 Table 3.29 Silver deposits in the world and in Africa, and their resources and reserves. 75 Table 3.30 Main primary silver deposits in Africa. 76 Main iron-ore minerals. Table 3.31  77 Table 3.32 World and African iron-ore deposits, their resources and reserves (Mt of Fe content). 79 Table 3.33 Iron ore reserves and production in the world and in Africa, 2023. 80 Table 3.34 Operating iron-ore mines in Africa. 81 Table 3.35 Largest undeveloped iron-ore deposits in Africa. 82 Table 3.36 Manganese deposits in the world and Africa, and their resources and reserves. 85 Table 3.37 Manganese reserves and production in the world and Africa, 2023. 86 Table 3.38 Significant African manganese operating mines and undeveloped deposits. 88 Table 3.39 Chromite reserves and production in the world and Africa, 2023. 89 Table 3.40 Main chromite deposits in Africa. 90 Nickel resources in the world and in Africa, broken up by primary and Table 3.41  byproduct sources. 92 Table 3.42 Nickel production statistics (metric tons of nickel metal). 94 Table 3.43 Primary non-lateritic nickel mines and undeveloped deposits. 95 Table 3.44 Byproduct nickel deposits in Africa in decreasing size order. 97 Table 3.45 Nickel laterite deposits in Africa. 99 Table 3.46 Vanadium reserves and production in the world and in Africa, 2023. 100 Table 3.47 Main African vanadium deposits. 101 Table 3.48 Chemical composition and lithium content of the main lithium minerals. 102 Table 3.49 Lithium content of various lithium products. 103 Table 3.50 Lithium mineral resources in the world and in Africa, broken up by deposit types. 105 Lithium reserves and production in the world and in Africa, 2023. Table 3.51  106 Table 3.52 Main African lithium pegmatite deposits in order of decreasing size. 107 Table 3.53 Main cobalt ore minerals. 108 Table 3.54 Cobalt resources in the world and in Africa, broken down by those sourced from primary deposits and byproducts. 110 Table 3.55 Cobalt reserves and production in Africa and in the rest of the world, in metric tons of cobalt metal, 2023. 112 Table 3.56 Distribution of African cobalt resources between primary and byproduct sources. 114 Table 3.57 Primary cobalt deposits in decreasing size order (metric tons of contained cobalt metal). 114 Table 3.58 Sediment-hosted copper deposits with significant cobalt as a byproduct. 115 Table 3.59 Magmatic and volcanogenic nickel-copper deposits with significant cobalt as a byproduct. 116 List of Tables | xix Table 3.60  Nickel laterite deposits with significant cobalt as a byproduct. 117 Table 3.61 Purity and size characteristics of common graphite products. 118 Table 3.62  Graphite resources in the world and in Africa, broken up by flake and amorphous. 119 Table 3.63  Graphite reserves and production in Africa and in the rest of the world. 120 Table 3.64  African graphite deposits in order of descending size. 123 Table 3.65  Tantalum production in the world and in Africa. 124 Table 3.66  Main African primary tantalum deposits. 125 Table 3.67 Significant tin deposits in the world and in Africa and their resources and reserves. 126 Table 3.68  Tin reserves and production (2023 estimates, metric tons). 126 Table 3.69  Main African primary tin deposits. 127 Table 3.70 Tungsten reserves and production in the world and in Africa, 2023. 129 Main African primary tungsten deposits. Table 3.71  129 Table 3.72 Primary rare earth deposits in the world and in Africa, and the approximate value of their contained metals. 131 Table 3.73 Reserves and production of rare earth oxides in the world and in Africa, 2023. 132 Table 3.74 Main African primary rare earths deposits. 133 Table 3.75 Industrial diamond resources and production estimates in the world and in Africa, 2023. 134 Table 3.76 Gem-quality diamond production estimates in the world and in Africa, 2023. 135 Table 3.77 African diamond mines associated with alkali intrusions. 136 Table 3.78 African placer/alluvial diamond mines. 137 Table 3.79 Undeveloped African diamond deposits associated with alkali intrusions. 138 Table 3.80  Undeveloped African placer/alluvial diamond deposits. 138 Table 3.81 Significant bauxite deposits in the world and in Africa, and their resources and reserves (Mt of Al2O3). 139 Table 3.82  Bauxite reserves and production in the world and in Africa, 2023. 140 Table 3.83  Operating and undeveloped African bauxite deposits. 141 Table 3.84  Significant coal deposits in the world and in Africa, and their resources and reserves. 143 Table 3.85  Coal producing countries in decreasing order of their 2023 production tonnages. 143 Table 3.86  Operating coal mines in Africa. 144 Table 3.87 Main undeveloped coal deposits in Africa. 145 Table 3.88  Significant uranium deposits in the world and in Africa, and their resources and reserves. 148 Table 3.89  Operating uranium mines in Africa. 149 Table 3.90  Undeveloped uranium deposits in Africa, grouped by their different genetic types. 149 Table 3.91 Heavy mineral sands deposits in the world and in Africa, and their resources and reserves. 152 Table 3.92  African ilmenite reserves and production in the world context, 2023. 153 Table 3.93  African rutile reserves and production in the world context, 2023. 153 Table 3.94  African zircon reserves and production in the world context, 2023. 154 Table 3.95  Main African heavy mineral sands deposits. 154 Table 3.96  Significant phosphate rock deposits in the world and in Africa, and their resources and reserves (Mt of P2O5). 156 xx | MINERAL RESOURCES OF AFRICA Table 3.97  Phosphate rock reserves and production in the world and in Africa, 2023. 157 Table 3.98  Current phosphate rock mines in Africa. 158 Table 3.99  Main undeveloped phosphate rock deposits in Africa. 159 Table 3.100  Significant potash deposits in the world and in Africa, and their resources and reserves. 160 Table 3.101 World potash reserves and production, 2023. 161 Table 3.102  Undeveloped potash deposits in Africa. 161 Review of exploration expenditure and discovery of “significant” mineral deposits Table 4.1  over the period 2014–2023.  166 Table 4.2  Regional distribution of mineral discoveries in Africa over the period 1960–2023, broken up by Tier ranking. 167 Table 4.3 Comparison of the mineral endowment of Africa, of its regions, and of the rest of the world, in terms of total pre-mining endowment and on a per square kilometer basis. 168 Table 4.4  Total contained metal per square kilometer for the major mineral commodities in the West Africa region. 186 Table 4.5  Total contained metal per square kilometer for the major mineral commodities in the North Africa region. 194 Table 4.6  Total contained metal per square kilometer for the major mineral commodities in the East Africa region. 198 Table 4.7 Total contained metal per square kilometer for the major mineral commodities in the Central Africa region. 202 Table 4.8  Total contained metal per square kilometer for the major mineral commodities in the Southern Africa region. 207 Strategies to increase mineral supplies and other factors mitigating supply Table 5.1  shortages. 215 Table 5.2  Number of undeveloped mineral resources in Africa, differentiated by type of mineral and Tier. 217 Table 5.3  2023 African exploration budget for non-ferrous minerals broken down by project stages. 224 Table 5.4  2023 African exploration budget for non-ferrous minerals, broken down by country of origin. 224 Table 5.5  2023 African mineral exploration budget for ferrous and non-ferrous metals, broken down by main destination nations. 225 Table 5.6  Challenges for machine learning (ML), artificial intelligence (AI), and geodata in Africa. 231 LIST OF ILLUSTRATIONS Geographical location of all significant mineral deposits in Africa contained in Figure 1.1  the MinEx database. 4 Figure 2.1 The Gondwana (West and East) supercontinent and Neoproterozoic orogenic belts (approximately 800 Ma) formed during the breakup of Rodinia and their subsequent amalgamation into the Gondwana supercontinent. 7 Figure 2.2  Main cratons, orogenic belts, sedimentary basins, and other components of the African continent. 9 Figure 2.3  Schematic geological map of Africa. 10 Figure 2.4  Distribution of mineral systems and supercontinent assembly over geological times. 11 Figure 3.1 Geographical distribution of main mineral deposits relative to the fundamental structural components of the African continent. 22 Figure 3.2  Resources and reserves classifications. 23 Figure 3.3  Map displaying the five African regions used in this study. 25 Figure 3.4  Geographical location of West Africa’s mineral deposits of various commodity groups broken down by operating mines, closed mines, and undeveloped deposits. 30 Figure 3.5  Geographical location of North Africa’s mineral deposits of various commodity groups broken down by operating mines, closed mines, and undeveloped deposits. 34 Figure 3.6  Geographical location of East Africa’s mineral deposits of various commodity groups, broken down by operating mines, closed mines and, undeveloped deposits. 37 Figure 3.7  Geographical location of Central Africa’s mineral deposits of various commodity groups broken down by operating mines, closed mines, and undeveloped deposits. 41 Figure 3.8  Geographical location of Southern Africa’s mineral deposits of various commodity groups, broken down by operating mines, closed mines, and undeveloped deposits. 45 Figure 3.9  Location of African base metals deposits excluding nickel, as well as of cobalt and coal mineral deposits. 51 Figure 3.10  Location of gold-silver, PGE, rare earths, tin-tantalum, and bauxite deposits in Africa. 61 Figure 3.11 Location of deposits of iron ore, main ferroalloy metals, and mineral sands in Africa. 77 Figure 3.12  World distribution of manganese deposits. 87 Figure 3.13  Tonnages and grades distribution of primary manganese deposits. 87 Figure 3.14  Worldwide location map of nickel deposits. 92 Figure 3.15  Log-log plot of the tonnages and grades of all known nickel deposits in the world broken up by their genetic origins, and identifying those located in Africa from the rest of the world (ROW). 93 Figure 3.16  Location of nickel deposits in Africa, differentiated by genetic types. 96 Figure 3.17 Location of African diamond and other gemstone deposits, and of nickel and other battery minerals including lithium, cobalt, and graphite. 102 | xxi xxii | MINERAL RESOURCES OF AFRICA Figure 3.18  Location of world lithium deposits categorized by genetic type. 104 Figure 3.19  World lithium deposits tonnages and grades, differentiated by type and whether located in Africa or in the rest of the world (ROW). 106 Figure 3.20  Location of world cobalt deposits categorized by genetic types. 111 Figure 3.21  (a) (b) Log-log graph of tonnages and grades of cobalt for primary deposits (a) and as byproduct (b), broken up by genetic types, showing deposits located in Africa and in the rest of the world (ROW). 113 Figure 3.22  World distribution of graphite deposits. 121 Figure 3.23  Log-log plot of tonnages and grades of natural graphite deposits broken up into amorphous and flake showing deposits located in Africa and in the rest of the world (ROW). 121 Figure 3.24  Location map of energy minerals (coal and uranium). 142 Figure 3.25  Location map of heavy mineral sands, fertilizers, and specialty minerals (tantalum, tin, and tungsten) in Africa. 151 Figure 4.1 Exploration expenditures in dollars (as of December 2023) and mineral discoveries made in the world over the last 30 years, broken up by commodity. 163 Figure 4.2  Exploration expenditures and number of mineral discoveries in Africa over the last 30 years, broken up by commodity. 165 Figure 4.3  Number of mineral discoveries in Africa since 1900, broken up by type of exploration company. 166 Figure 4.4  Spread of exploration expenditures among the five African regions over the last 30 years. 169 Figure 4.5  Mineral discoveries over the last 30 years in various African regions. 169 Figure 4.6  Average cost of mineral discoveries in Africa over the last 10 years, broken up by regions. 171 Figure 4.7 Average size of gold discoveries over the last 10 years in the world, in Africa, and in individual African regions. 172 Figure 4.8  Average cost of gold discoveries over the last 10 years in the world, in Africa, and in individual African regions. 173 Figure 4.9  Average unit cost of gold discoveries (as $ per ounce of Au) over the last 10 years in the world, in Africa, and in individual African regions. 174 Figure 4.10  Average size of copper discoveries over the last 10 years in the world, in Africa, and in individual African regions. 175 Figure 4.11 Average cost of copper discoveries over the last 10 years in the world, in Africa, and in individual African regions. 176 Figure 4.12  Average unit cost of copper discoveries (as $ per metric ton of Cu) over the last 10 years in the world, in Africa, and in individual African regions. 177 Figure 4.13  Average size of iron-ore discoveries over the last 10 years in the world, in Africa, and in individual African regions. 178 Figure 4.14  Average cost of iron-ore discoveries over the last 10 years in the world, in Africa, and in individual African regions. 179 Figure 4.15  Average unit cost of iron-ore discoveries (as $ per metric ton of Fe) over the last 10 years in the world, in Africa, and in individual African regions. 180 Figure 4.16  Geological map of West Africa. 182 Figure 4.17 Exploration expenditures and number of mineral discoveries in the West Africa region over the last 30 years, broken up by commodity. 184 List of Illustrations | xxiii Figure 4.18 Geographical location and relative value of all West Africa’s mineral discoveries of various commodity groups made between 1960 and 2024. 185 Figure 4.19 Paleoproterozoic gold deposits of West Africa. 187 Figure 4.20  Approximate gold endowment per deposit style for Paleoproterozoic gold deposits. 188 Figure 4.21  Metallogenic map of northern Africa showing the relationship between mineral deposits and the main geological framework components of the region. 192 Figure 4.22  Exploration expenditures and number of mineral discoveries in the North Africa region over the last 30 years, broken up by commodity. 193 Figure 4.23  Geographical location and relative value of all North Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 193 Figure 4.24  Exploration expenditures and number of mineral discoveries in the East Africa region over the last 30 years, broken up by commodity. 196 Figure 4.25  Geographical location and relative value of all East Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 197 Figure 4.26  Exploration expenditures and number of mineral discoveries in the Central Africa region over the last 30 years, broken up by commodity. 200 Figure 4.27  Geographical location and relative value of all Central Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 201 Figure 4.28  Part of the East African Rift System, showing the Afar triangle and the lakes in its eastern and western branches, where present-day hydrothermal discharges and sulfides precipitation occur. 204 Figure 4.29  Exploration expenditures and number of mineral discoveries in the Southern Africa region over the last 30 years, broken up by commodity. 205 Figure 4.30  Geographical location and relative value of all Southern Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 206 Figure 4.31  The Karoo triple junction (inset) and the failed arm of the Tuli-Sabi-Lebombo rift. 209 Figure 4.32  Alkaline complexes and the Southern Region. 209 Figure 5.1 Global critical minerals demand forecast under the Net Zero Emission by 2050 Scenario. 214 Figure 5.2  Ratio of 2050 to 2022 demand. 214 Figure 5.3 Correlation of global copper exploration budget with the copper price 219 Figure 5.4  Correlation of global gold exploration budget with the gold price. 220 Figure 5.5  Decreasing correlation between African copper exploration budgets and the price of copper after the 2012 peak. 220 Figure 5.6  Decreasing correlation between African gold exploration budgets and the price of gold after the 2012 peak. 221 Figure 5.7 Correlation between African exploration budgets and market sentiment. 221 Figure 5.8  Historical African budget for lithium exploration. 222 Figure 5.9 Projected African lithium supply by country. 223 Figure 5.10 Historical price of 99.5 percent pure lithium carbonate, in Chinese Yuan per metric ton. 223 Figure 5.11 Coverage of airborne magnetic surveys, WAXI compilations, and ground gravity points for Africa. 228 Figure 5.12 Schematic representation of Artificial Intelligence. 228 ABOUT THE AUTHORS Pietro Guj Dr. Pietro Guj is a Research Professor at the Centre for Exploration Targeting (CET) at the University of Western Australia, and an Adjunct Professor in Mineral Economics at Curtin University’s Western Australian School of Mines. These academic roles were preceded by a distinguished career in the exploration and mining industry, in Asia, Africa and Australia both in industry and Government. He held the role of Deputy Director General of the Department of Minerals and Energy and Executive Director of the Geological Survey of Western Australia after a few years as a finance executive for the Water Authority of WA. Dr Guj’s main interests are in project evaluation, risk and decision analysis as applied to the mineral industry and in the formulation and administration of internationally competitive resources regulatory and fiscal regimes; fields in which he has lectured, published and consulted widely internationally. In recent years, Dr. Guj has been retained by the World Bank to direct research and capacity building programs designed to improve mining taxation policy and administration frameworks and to address the fiscal challenge of transfer pricing in the context of mineral-rich developing countries, with particular emphasis on Africa. He has also been contracted by the Australian Department of Foreign Affairs and Trade to direct residential training for mid-career officials from many African jurisdictions in the field of mineral economics and governance both in Western Australia, and in South Africa in cooperation with the University of Witwatersrand. Richard Schodde Mr. Richard Schodde has had an illustrious career in the mining industry including 15 years in a range of project evaluation, business development and strategic planning roles with WMC Resources, followed by four years with BHP Billiton in Melbourne as a minerals economist, before founding MinEx Consulting Pty Ltd in 2008, where he is the current Managing Director. In the 17 years since founding MinEx Consulting, Richard has done work for over 100 clients in 18 countries on a wide range of commodities. The main focus is the economics of mineral exploration and building the business case for why and how exploration may add value to a company. To underpin its studies, MinEx has compiled a comprehensive database of over 63,000 mineral deposits around the World. These include over 13,200 deposits of significant size, 1888 of which are in Africa. This database has been made accessible to the World Bank Group (WBG) and is the basis of the current study. | xxv | xxvi MINERAL RESOURCES OF AFRICA In recent years, MinEx has provided compilations of its database to major companies including Anglo American, BHP, Goldfields, Newcrest and Rio Tinto, and an extract of its uranium deposits to the International Atomic Energy Agency. Extracts from the database have also been used by 17 universities around the world to assist in their research on topics such as the effect of mining on conflict and economic development. Richard has published and presented several dozen papers on exploration performance and has given keynote addresses at 14 major international conferences. He is internationally recognized by his peers as a world leader in mineral economics and in 2015, 2016 and 2017 the Mining Journal nominated Richard as one of the top 20 power people in world mining, due to his influence on strategy and policy in the exploration sector. Boubacar Bocoum Boubacar is a Lead Mining Specialist in the Energy and Extractives Global Practice of the World Bank Group. He holds a master’s degree in Mining Engineering and Economics, and an MBA. He has over 30 years of experience in the public and private mining sectors. He has led World Bank operational activities on mineral policies, governance, transparency, institutional capacity strengthening, and on facilitating dialogue and interaction between governments, the private sector and civil society. He also led several analytical works ranging from mining community development to ancillary infrastructure development, mining tax administration, and skills development. Prior to joining the World Bank, Boubacar worked in the private sector on all the cycles of mining operations and mining projects finance, and participated in the listing of a company on the London Stock Exchange. James Cust James specializes in the economics of natural resource management, climate, and sustainable development. James’ research examines the role of government in harnessing natural resources for growth and poverty reduction, and the implications for resource-rich countries of global decarbonization efforts. James holds a DPhil (PhD) in Economics from the University of Oxford. DISCLAIMER The opinions and advice offered in this book are general in nature and not specifically directed to the particular situation or needs of any individual country, exploration or mining company, investor or other party. Although the authors have used their best endeavors to ensure that the content of this book is as far as possible accurate and correct, they cannot accept any liability or responsibility for any loss occasioned by any person acting or refraining from action on the basis of material contained in this book. Governments, exploration and mining companies and other entities and individual making use of the information contained in this book do so at their own risk and, if in doubt, should consider their particular needs and seek further specialized advice specific to their individual circumstances beyond that offered in this book. | xxvii 1. INTRODUCTION Objective and scope of this publication The main objective of Mineral Resources of Africa is to provide a comprehensive, reliable and up-to-date source of factual background information about the continent’s mineral resources. It is hoped that the present document will provide authoritative, but at the same time readable, information relating to the African current and potential future mineral endowment, in support of academic and industrial research in economic geology, mineral economics, mineral policy and governance in developing countries, and represent an incentive for investment in future mineral exploration and mining in Africa. Structure of the report Mineral Resources of Africa includes six Chapters and three Appendices. Chapter one introduces the study, detailing its objectives, scope and sources of geoscientific and mineral resources information. Chapter two summarizes the main geological and metallogenic history of the African continent, as well as its history of mineral exploration, main discoveries, and mine developments. Chapter three summarizes the importance of the current African mineral endowment in the world context, mapping its distribution across the continent on both a regional and commodity basis in terms of resources and production for 23 specific mineral commodities. The chapter is supported by several appendices. Appendix A describes the structure and characteristics of the MinEx African Database underpinning this study. An overview and summary data from the database, including essential details for 1888 significant mineral deposits throughout Africa, are provided in Appendix B, where deposits are listed by commodity. Chapter four attempts to assess the mineral prospectivity of the five African regions both qualitatively, based on the judgement of several experts with extensive geological field experience in Africa, and quantitatively, using history of exploration expenditures and discoveries over the last two decades. Ratios such as the average size and cost of mineral discoveries and the unit cost per unit of some of the main metals have been used as indicators of exploration investment attractiveness and/or maturity. Chapter  five discusses the future of mining and mineral exploration in Africa in general, with an emphasis on the increasing pressure regarding the critical minerals (CMs) required for the transition to clean energy. It also considers recent innovative developments in mineral exploration targeting concepts and detection technologies that may influence future exploration in the continent, including increasing use of machine learning and artificial intelligence (AI). Chapter six summarizes the essential findings of the study and draws some general conclusions. | 1 2 | MINERAL RESOURCES OF AFRICA Sources of mineral deposits data The current Mineral Resources of Africa study is primarily based on the comprehensive African component of MinEx Consulting’s ‘Global Mineral Deposits’ database, updated as of August 2024. The information contained in the database has been gathered from a range of primarily published sources including company reports, press releases, presentations, and announcement to stock exchanges, as well as from specialized technical and trade journals, government and academic publications, security industry analyses, and personal communications. Additional information in support of the descriptive components of the report was derived from a variety of published sources as referenced in the text, including comprehensive publications such as the United States Geological Survey’s (USGS) annual Mineral Commodities Summaries, and their “Geology and Nonfuel Mineral Resources of Africa and the Middle East” (Taylor et al., 2009), as well as the Resources Information Unit’s (RIU) “Register of African Mining” (2014), and unpublished information held by the Centre for Exploration Targeting (CET) of the University of Western Australia (UWA). The MinEx database contains information about just under 63,000 mineral deposits throughout the world, including past and currently operating mines and announced exploration discoveries at various stages from advanced exploration to development, including their related mineral resources/reserves. Of these 13,236 entries are classified as “significant” deposits of “Moderate size” or larger of which 1,888 are in Africa. It is estimated that these capture over 85 percent of total deposits and over 95 percent of contained metal. In addition, the database contains information on around 2,500 deposits in Africa that are smaller than “Moderate”. Although this number is considered conservative, and the actual number may be significantly higher. About half of these are small gold deposits and one fifth diamond ones. However, from a supply point of view, these smaller deposits are collectively insignificant, except for artisanal gold production. Mineral deposits are classified in terms of their: • Size ranking, based on their “pre-mined resource” defined as the current published, Australian Joint Ore Reserves Committee Code (JORC, 2012) compliant, Measured, Indicated and Inferred Resources plus cumulative historic production, adjusted for mining and processing losses. The size categories, based on tonnages of major contained minerals, are shown in Table  1.1. In situations where a JORC-defined resource has not been reported, MinEx Consulting made a subjective judgment as to which general size range the deposit would be likely to fall. • Tier ranking that considers not only the size of deposits but also their quality in terms of their technical and economic characteristics likely to enhance their potential profitability and value. Most deposits included in the Tier 1 to 3 categories are generally major to giant in size but also include a minority of moderately sized deposits that may be valuable because of their high grade or other favorable characteristics. Tier 4 and unclassified deposits are generally minor to moderate in size. Although many Tier 1 deposits are “giant” in size, because of the different level of profitability and value of different deposits, not all “giant” deposits are necessarily Tier 1, and one often encounters “giant” Tier 2 and occasionally even Tier 3 deposits. Conversely, potentially highly profitable “major” 1. INTRODUCTION | 3 TABLE 1.1  General size and Tier classification of mineral deposits. Gold Copper Zinc 1 Lead Silver Thermal Coking Uranium DEPOSIT SIZE (MOz) (Mt) Nickel (Mt) (Mt) (MOz) Coal (Mt) Coal (Mt) Iron (Mt) (Kt U3O8) Giant >6 >5 >1 >12 >300 >1000 >500 >500 >125 Major 1 to 6 1 to 5 0.1 to 1 2.5 to 12 50 to 300 500 to 1000 250 to 500 250 to 500 25 to 125 Moderate 0.1 to 1 0.1 to 1 0.01 to 0.1 1 to 10 10 to 50 250 to 500 100 to 250 100 to 250 5 to 25 Minor <0.1 <0.1 <0.01 <1 <10 <250 <100 <100 <5 DEPOSIT QUALITY/TIER Value (US$2023) Profitability Mean Life Range Economic Cycle (Years) Tier 1 Mostly Giant or Major - ‘Company-making’ deposits >$1B $2.66B High on full cycle >20 Tier 2 Mostly Major subordinately Giant $200M–1B $666M Low at bottom of cycle <20 Tier 3 Mostly Moderate, subordinately Major $0–200M $107M Low and intermittent Low/ variable Tier 4 Primarily Moderate and low-quality Major $13M Very low or N/A Un-classified Primarily Moderate Low Very low or N.A. Source: MinEx Consulting’s estimates. Note: Mt stands for million metric tons. MOz stands for million Troy ounces. deposits may rank at Tier 1 despite their individual relatively lower size. Figure 1.1 displays the location of all “significant” mineral deposits, with the diameter of their symbols being proportional to the size of the individual deposits, as defined in the top half of Table 1.1. The mineral deposits are also color coded into seven main commodity groups including gold, precious (PGE, silver, diamond and gemstones), base metals (copper, zinc, lead and nickel), uranium, mineral sands, bulk minerals (coal, iron ore, bauxite and phosphate rock), and others covering a large variety of metallic and industrial minerals. Africa as a source of critical minerals Africa is endowed with significant quantities of a wide variety of minerals and metals (the MinEx database lists 54 of them), some of which are now considered “critical minerals” (CMs) in terms of their use in future global industrial and technological development. Asides from consideration of decreasing intensity of use, recycling and substitution trends, criticality arises mainly because of two factors: • the long-term increase in demand linked to population growth for major metals, such as iron, aluminum, copper, zinc, lead, and nickel, that, depending on the commodity, is estimated to rise by two to six times by the end of the century (Watari et al., 2021); and • the medium-to long-term potential threat to the supply of some CMs, as well as exponential growth in demand for several metals/minerals arising from fundamental technological shifts in the energy and other sectors brought about by a global policy of progressive decarbonization and other societal and environmental imperatives. 4 | MINERAL RESOURCES OF AFRICA FIGURE 1.1  Geographical location of all significant mineral deposits in Africa contained in the MinEx database. Source: MinEx Consulting’s estimates). Note: Deposits are differentiated by size (diameter of symbol) and main commodity group (color of symbol). CMs as regularly listed, among others, by the European Commission (which labelled them strategic raw materials—SRMs: European Commission Directorate-General for Internal Market et  al., 2023) currently include the 34 minerals/metals as shown in Table 1.2, three of which—cobalt, lithium, and natural graphite—are critical to the manufacture of batteries for both electric vehicles (EV) and other batteries for static energy storage, photovoltaics, electronics, fuel cells and other components (Moss et al. 2011; Skirrow et al. 2013; Tkaczyk et al., 2018). 1. INTRODUCTION | 5 TABLE 1.2  European Commission’s list of critical and strategic raw materials. 2023 Critical Raw Materials (strategic raw materials in italics) aluminum/bauxite coking coal lithium phosphorus antimony feldspar LREE scandium arsenic fluorspar magnesium silicon metal baryte gallium manganese strontium beryllium germanium natural graphite tantalum bismuth hafnium niobium titanium metal boron/borate helium PGM tungsten cobalt HREE phosphate rock vanadium copper* nickel* Source: European Commission Directorate-General for Internal Market et al., 2023. Note: Copper and nickel do not meet the CRM thresholds but are included as strategic raw materials. As a study by the World Bank Group (Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition, 2020) indicated, low-carbon technologies, particularly solar photovoltaic (PV), wind, and geothermal, are more mineral intensive in terms of major metals, such as copper and aluminum, relative to fossil fuel technologies. However, as these metals have wider application, the increase in demand attributable to changes in energy technology will represent a relatively moderate proportion of their significant markets. By contrast, the demand for some metals/minerals that are fundamental inputs in the manufacturing of EV batteries—the so-called “battery metals”, such as graphite, lithium, and cobalt—may increase by more than 450 percent by 2050 under the 2-degree Paris climate scenario, according to the WBG (2020). Quantitative projections of the likely demand for some of these minerals essential to the transition to clean energy have recently been provided in the International Energy Agency’s World Energy Outlook 2023 (IEA 2023), including its valuable and freely available datasets. Despite such a high rate of growth in demand and the fact that lithium currently has no substitutes for its application as an electrolyte in EV battery manufacturing, it has only recently been included in the EC’s CRMs list. The main reason is that there are abundant undeveloped resources of lithium across the world and particularly in Africa, and that its criticality relates primarily to current processing capacity into battery precursors. By contrast, cobalt and natural graphite, used in cathodes and anodes in EV batteries, are listed among the EC’s CRMs, because most current resources are situated in African jurisdictions which are perceived by some as unstable and likely to create potential supply disruptions. This is particularly the case for cobalt, where perceptions of impending shortages have in recent years resulted in major hikes in its price, reaching $95,000 per metric ton at one stage. This has created a major incentive for developments in EV battery technology whereby cobalt may be substituted in part by the cheaper and more secure nickel. It has also resulted in increased focus on exploration for cobalt, particularly in traditional and stable mining jurisdictions such as Australia, Canada and the USA. Battery metals will be dealt with in more detail in Chapter 3. 6 | MINERAL RESOURCES OF AFRICA Thus, on balance, due to its rich natural known and prospective endowment, Africa is very well positioned to play a significant role in satisfying increasing demand for both traditional metals and for the “metals of the future” and in so doing to harness its mineral resources to improve the standard of living of its people. However, to be successful and to attract the foreign direct investment (FDI) necessary to fully develop its mineral resources, it must address some critical aspects of mineral policy and governance and continue to improve its regulatory and fiscal regimes. Chapter 1 Bibliography European Commission Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, M. Grohol, and C. Veeh. 2023. Study on the critical raw materials for the EU 2023—Final report. Luxembourg: Publications Office of the European Union. https://data.europa.eu/doi/10.2873/725585 International Energy Agency (IEA). 2023. World Energy Outlook 2023. Paris: IEA. https://www.iea.org/ reports/world-energy-outlook-2023#downloads The Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy (JORC). 2012. Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code 2012 Edition. Crows Nest, NSW and Canberra: JORC, Australian Institute of Geoscientists and Minerals Council of Australia. https://www.jorc.org/docs/JORC_code_2012.pdf Moss, R., E. Tzimas, H. Kara, P. Willis, and J. Kooroshy. 2011. Critical Metals in Strategic Energy Technologies - Assessing Rare Metals as Supply-Chain Bottlenecks in Low-carbon Energy Technologies. Luxembourg: Publications Office of the European Union. https://publications.jrc.ec.europa.eu/repository/handle/ JRC65592 Resources Information Unit (RIU). 2014. “Register of African Mining.” Perth: Paydirt Media Pty. https:// www.paydirt.com.au/ Skirrow, R.G., D.L. Huston, T.P. Mernagh, J.P. Throne, H. Dulfer, and A.B. Senioe. 2013. Critical commodities for a high-tech world: Australia’s potential to supply global demand. Canberra: Geoscience Australia. https://d28rz98at9flks.cloudfront.net/76526/76526.pdf Taylor, C.D., K.J. Schulz, J.L. Doebrich, G.J. Orris, P.D. Denning, and M.J. Kirschbaum. 2009. “Geology and nonfuel mineral deposits of Africa and the Middle East.” U.S. Geological Survey, Open- File Report 2005–1294-E. Reston, VA: U.S. Geological Survey. https://pubs.usgs.gov/publication/ ofr20051294E Tkaczyk, A.H., A. Bartl, A. Amato, V. Lapkovskis, and M. Petranikova. 2018. “Sustainability evaluation of essential critical raw materials; cobalt, niobium, tungsten and rare earth elements.” Journal of Physics D: Applied Physics, 51, 203001. https://iopscience.iop.org/article/10.1088/1361-6463/aaba99/pdf Watari, T., K. Nansay and K. Nakajima. 2021. “Major metals demand, supply, and environmental impacts to 2100: A critical review.” Resources, Conservation and Recycling 164, 105107. https://www.sciencedirect. com/science/article/pii/S0921344920304249 World Bank Group. 2020. Minerals for Climate Action: The Mineral Intensity of the Clean Energy Transition. Washington, DC: World Bank. https://documents1.worldbank.org/curated/en/099052423172525564/ pdf/P16627806f5aa400508f8c0bdcba0878a3e.pdf . 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA Geological history of the African continent The African continent in its present form was shaped by a complex sequence of plate tectonics and other geological events, with the assembly and breakup of a series of supercontinents over the full spectrum of the geological history of the planet, from the ancient (> 2.5 Ga) Archean era to the present. Between approximately 3.5 Ga–2.5 Ga a number of Archaean cratonic blocks (Kaapvaal, Zimbabwe, Tanzania, and Madagascar) were formed, later (approximately 2–1.5 Ga) followed by the West Africa, Congo-Kasai and Nubian-Arabian shields. These cratonic blocks were subsequently assembled into a number of supercontinents, including Columbia (Nuna) (approximately 2.0–1.6 Ga), Rodinia (approximately 1.0–0.9 Ga), Gondwana (approximately 800–550 Ma) (Figure 2.1; Pirajno and Santosh, FIGURE 2.1  The Gondwana (West and East) supercontinent and Neoproterozoic orogenic belts (approximately 800 Ma) formed during the breakup of Rodinia and their subsequent amalgamation into the Gondwana supercontinent. Source: Reproduced with permission after Pirajno and Santosh, 2015 and by courtesy of Meert and Lieberman, 2008. | 7 8 | MINERAL RESOURCES OF AFRICA 2015) and finally Pangea (299—180 Ma). The assemblage and subsequent breakup and rifting of these continents are significant in the context of Africa’s mineral resources. The genesis of mineral deposits in relation to assembly and breakup of supercontinents has been discussed by Barley and Groves (1992) who suggested that phases of continental breakup and active rifting are characterized by sediment-hosted base metal deposits, Mississippi Valley-type Pb-Zn deposits, and deposits related to anorogenic magmatism (for example, Cu-U-REE-Au of Olympic Dam-style, or Cu-Ni-PGE, Ti-V in layered intrusions). By contrast, epithermal-porphyry systems and volcanogenic massive sulfides deposits tend to be formed during phases of continental assembly, which involve subduction, collision tectonics and island arc accretion, orogenic mesothermal or shear zone-hosted lode Au deposits. Three main pre-Paleozoic tectono-thermal episodes are recognized in the African geological record, that is Eburnean (2050 to 1800 Ma), Kibaran (1350 to 1000 Ma), and Pan-African (750 to 550 Ma) (Dirks et al., 2002). The Eburnean orogeny has been recognized in the Southern, Central and West Africa cratons, while the Kibaran event did not affect the West African Craton. The Pan-African episode was responsible for the final assembly of all cratons and surrounding orogenic belts into a stable continent, creating the basement for subsequent significant Phanerozoic sedimentation. After the Pan-African orogeny, deformation was limited to extensional and rifting phases associated with the opening of the surrounding oceans and related igneous activity and volcanism, until the Paleozoic development of the Hercynian (Variscan) fold belt and of the Mesozoic-Cenozoic Atlas-Alpine system. A classic example of metallogeny associated with failed rifting linked to the Pan-African orogeny and the breakup of Rodinia is to be found in the Lufilian orogen in central Africa, which hosts the important stratiform Cu-Co deposits of the Katanga Copperbelt in Zambia and in the Democratic Republic of Congo. Similarly, the NE-trending intracontinental troughs and basins that form the Irumide Belt, stretching from Namibia, through northern Botswana to the northern margin of the Zimbabwe craton and hosting stratabound Cu-Ag deposits (Klein Aub and Witvlei), are also related to this breakup. Later the breakup of the Gondwana supercontinent at approximately 550 Ma and the assembly of the Pangea supercontinent (maximum packing at approximately 250 Ma), including West Gondwana, resulted in the formation of major rift systems, such as the ENE-trending Benue Rifts in Nigeria, with the emplacement of tantalite, columbite and beryl-bearing pegmatites and of significant Mesozoic alkaline ring complexes (Niger-Nigeria), in which several base metal and tin lode systems are found. Subsequently, the breakup of Pangea (175 Ma) led to the separation of South America from south- western Africa, and the emplacement of continental flood basalts (Etendeka) together with major alkaline and carbonatite complexes along transform faults in Angola and Namibia. Some of these, for instance the Ondura Korume carbonatite, host uranium and rare earths mineralization. Equally important are the carbonatites and alkaline intrusions associated with the Karoo triple-junction rift and associated 180 Ma Karoo lavas outcropping over most of southern Africa. The Messina breccia pipe hosted Cu deposit belongs to this event. Figure 2.2 (modified with permission from Adagunodo et al., 2018), shows the main geological and structural components of the African continent, including the original Archean cratons, separated by adjacent mainly Proterozoic fold belts, thrusts, and strike-slip zones resulting in their progressive accretion and crustal thickening. 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA | 9 FIGURE 2.2  Main cratons, orogenic belts, sedimentary basins, and other components of the African continent. Source: Modified with permission after Adagunodo et al., 2018. 10 | MINERAL RESOURCES OF AFRICA FIGURE 2.3  Schematic geological map of Africa. Source: Reproduced with permission from Dauteuil et al., 2009. From a geological point of view, the most comprehensive and recent digital geological map of Africa, freely available on the internet, is that compiled in 2010 by the Bureau de Recherches Géologiques et Minières (BRGM) at an original scale of 1:10,000,000. A schematic geological map of Africa (Figure 2.3), reproduced with permission using primarily BRGM’s information, by the Commission for the Geological Map of the World can be found in their book entitled The Changing Faces of Africa (Dauteuil et al., 2009). Metallogenic epochs and distribution of African metallogenic provinces As already discussed, Africa is well endowed with a variety of deposits of most metallic and non- metallic mineral commodities that formed throughout its complex geological history. Eight major metallogenic epochs are recognized throughout the African continent, characterized by different metal associations, mineralogical and geochemical features, geodynamic conditions, and spatial distributions into distinct metallogenic provinces. Seven of these, with the exclusion of the Mesoproterozoic Kibaran orogeny, are present in Northern Africa (Bouabdellah and Slack, 2016). 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA | 11 The eight metallogenic epochs include: (i) Archean (>2500 Ma), (ii) Paleoproterozoic (2500–1600 Ma), (iii) Mesoproterozoic (1.6 Ga–950 Ma), (iv) Neoproterozoic (950–542 Ma), (v) Hercynian (540–290 Ma), (vi) Permian-Triassic (approximately 300–200 Ma), (vii) Late Cretaceous-Paleogene (100–23 Ma), and (viii) Late Miocene-present (<16 Ma). Figure  2.4 (reproduced from Pirajno and Santosh, 2015) shows the geological time distribution of various types of mineral systems and their relationship to continental assemblies and breakups. The gray curve displays the increasing presence of atmospheric oxygen (Canfield, 2005). The red color emphasizes how Archaean banded iron formations (BIF) and palaeoplacers, which contain detrital pyrite, uraninite, and siderite, formed under oxygen-poor atmospheric conditions. The description that follows of the metallogenic epochs associated with different African chronostratigraphic sedimentary and volcanic sequences, and magmatic intrusions, is largely an extract from the Status of Metallogenic Mapping in the World Today—With Special Reference to the Digital FIGURE 2.4  Distribution of mineral systems and supercontinent assembly over geological times. Source: Diagram reproduced with permission from Pirajno and Sandosh, 2015, based on data from Barley and Groves, 1992; Rogers and Santosh, 2004; Ohmoto, 2004; Groves et al., 2005a,b; and Groves and Bierlein, 2007. 12 | MINERAL RESOURCES OF AFRICA Metallogenic Map of Africa (Hammerback and Vaselinovic, 2007, in Briskey and Schulz, 2007). The metallogenic map, most recently updated in 2015, was produced under the auspices of the Commission for the Geological Map of the World (CGMW), coordinated by E. Hammerback and largely compiled by M. Veselinovic-Williams and S. Frost-Killian of the Council for Geoscience, South Africa, assisted by numerous collaborators and editors from various African Geological Surveys and Universities. Archean Archean rocks, shown in dark purple in Figure  2.3, consist of generally low-grade metamorphic volcano-sedimentary greenstone belts forming a supracrustal cover to a gneissic/granitic basement, involving several tectono-thermal episodes which occurred between 3.5 and 2.5 Ga ago. Deposits of tin, tungsten, tantalum, niobium, lithium, mica, and beryllium are associated with the pegmatitic phases of some of these granites. Except for Mauritania, Archean greenstone belts hosting a range of mineral deposits are mainly found in many sub-Saharan nations and in Madagascar. They tend to contain significant deposits of chromite, nickel and copper in their lowermost ultramafic units (Selukwe, Empress, and Shangani), while vein- hosted gold deposits are more widely distributed in mafic to intermediate igneous rocks higher in the greenstone sequences, particularly in the Kaapvaal, Zimbabwe and Tanzania cratons. Inadequate exploration may explain the comparatively lower economic significance of gold occurrences in other areas, as for instance in Cameroon and the Democratic Republic of Congo. Economically exploitable iron formations are also associated with subaqueous volcanism in many Archean greenstone belts in Zimbabwe, Liberia and Mauritania. The development of greenstone belts and progressive late-Archean cratonization appear to be diachronous from south to north across the continent, with the formation of various types of sedimentary basins and continental margin troughs. An example is the intracratonic Witwatersrand basin where syndepositional gold-uranium placer deposits, later modified by hydrothermal processes, occur. Paleoproterozoic Paleoproterozoic rocks (2.5–1.6 Ga) are shown in pale purple in Figure 2.3. The Paleoproterozoic was a period of significant platform sedimentation and volcanism hosting important stratabound banded iron formations (for example, Sishen, Simandou and Thabazimbi) and manganese (Gabon and the Kalahari) deposits and emplacement of anorogenic mafic to ultramafic magmatism of profound metallogenic significance, such as intrusion of the Great Dyke, the Bushveld Complex and Molopo Farms Complex, hosting very large economic deposits of chrome, platinum-group elements, iron, titanium, vanadium, and nickel-copper mineralization, and of the copper rich Phalaborwa carbonatite. Collisional orogenic processes in southern, central and West Africa then created a number of accretionary belts, many of which are highly mineralized. The Birimian belt of West Africa, for instance, is well endowed with a variety of types of gold deposits, particularly in Ghana (Obuasi, Ashanti, Prestea, Marlu, Bogosu and Konogo), Burkina Faso (Poura, Bouroum, Guiro, Diénémera), and 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA | 13 Mali (Loulo, Syama), as well as of manganese, iron and other less economically significant base metals deposits. The belt, composed of turbidites, basaltic and andesitic to dacitic lava flows and pyroclastic rocks, now metamorphosed to greenschist facies and intruded by granites, is similar to the Archean greenstone belts. Significant gold paleoplacers such as Tarkwa also occur within the belt, similar to but of younger age than the Witwatersrand deposits. By comparison, collisional mobile belts in Eastern Africa are generally poorly mineralized, with the exception of the stratiform syngenetic copper-cobalt deposit at Kilembe in the Toro belt in Uganda, and of hydrothermal deposits of lead (Mukwamba), copper (Lufusi), and gold (Lupa district) related to late-orogenic Ubendian igneous activity in Tanzania. Mesoproterozoic Mesoproterozoic rocks (1.6 Ga–950 Ma), shown in brown in Figure  2.3, were deformed and metamorphosed during the Kibaran (1,400–950 Ma) orogenic and metallogenic event. The Kibaran metallogenic province includes a dozen individual intracratonic, sedimentary belts with associated magmatism that host different types of mineralization. Central Africa, for example, features major tin-tungsten deposits in late-orogenic quartz veins in the northern Democratic Republic of Congo, Burundi, and Rwanda, and beryllium, columbo-tantalite, and lithium ores in related pegmatites. Of particular importance are the world-class, as yet undeveloped, Manono-Kititolo spodumene- bearing pegmatites in the Katanga tin belt of the Democratic Republic of Congo. The Irumide belt succession of rift-related, clastic sedimentary rocks hosts a red-bed copper province stretching from Botswana to Witvlei and Klein Aub in Namibia. The Namaqua-Natal belt hosts copper, lead-zinc and silver sedimentary-exhalative massive sulfide deposits (Aggeneys, Broken Hill, and Gamsberg), while volcanogenic copper-zinc deposits (for example, Prieska) occur in amphibolites along the western margin of the Kaapvaal craton. The extensional tectonic regimes prevalent within the thick, stable Kaapvaal craton were also ideal for the intrusion of diamondiferous kimberlites. Neoproterozoic and Early Paleozoic In this period (950 Ma to about 450 Ma), belts formed by initial rift-bound sedimentation and magmatism, followed by ocean opening, plate collision, and subduction with related magmatism. These sequences were involved in the Pan-African tectono-thermal event which affected much of Africa. Fourteen individual orogenic belts of this age have been recognized. Major copper-cobalt deposits formed in deformed shales and conglomerates of the Katanga Copperbelt in Zambia and Democratic Republic of Congo, which is part of the Lufilian arc (Figure 2.2). Significant uranium-gold (Shinkolobwe, Democratic Republic of Congo) and lead-zinc-copper-cadmium (Kipushi, Democratic Republic of Congo) deposits are also present in this belt. The Damara orogenic belt (Figure 2.2) of Namibia hosts a variety of significant mineral deposits. These range from volcanogenic exhalative massive sulfide deposits of copper (Otjihase and Matchless) and lead-zinc (Rosh Pinah and Skorpion), to Mississippi-Valley base-metal deposits (Tsumeb, Kombat, Berg Aukas, and Abenab). 14 | MINERAL RESOURCES OF AFRICA In addition, associated post-tectonic granites host important deposits of tin and uranium (for instance, the alaskite-hosted deposit at Rossing), and a range of other pegmatitic minerals near Karibib, as well as minor gold skarn deposits. The extensive East African Orogenic Zone (Figure 2.2) includes the Mozambique and Zambesi high metamorphic belts, created mainly by Pan-African rejuvenation of pre-existing rocks around 660 Ma ago, and the Arabian-Nubian Shield, made up of juvenile crust of accreted island arcs that formed during a complete Wilson cycle between 870 and 540 Ma ago. Pegmatite-hosted mineral systems containing rare earth elements, tantalum, niobium, beryllium, mica, and emerald, as well as important graphite deposits, characterize the Mozambique belt. The volcano-sedimentary terranes of the Arabian-Nubian Shield host hydrothermal gold-quartz and gold-carbonate vein-type deposits in Ethiopia (Lega Dembi, Adola) and Eritrea (Gash-Setit), and more than 50 VMS occurrences including the world-class Hadal Awatib deposit in Sudan and Debarwa and Bisha deposits in Eritrea. The belt also contains ophiolites hosted nickel-sulfide and chromite deposits and tin-tungsten and tantalum-niobium mineralization in altered late-tectonic alkali granites. Reworking of Paleo- and Neoproterozoic rocks in the Anti-Atlas belt in Morocco and Mauritania contains important epithermal gold and silver deposits, including the huge Imiter Ag-Hg vein deposit. Hercynian (Variscan) Hercynian (540–290 Ma) orogeny was associated with the Late Paleozoic collision that formed the supercontinent of Pangaea. Intense deformation and low metamorphism of mostly Carboniferous sedimentary rocks were involved in building the Atlas-Alpine mountain range of Morocco and Tunisia. A number of polymetallic, massive sulfide deposits containing sizeable resources of copper, lead and zinc, with precious metal credits, are currently mined at Hajjar and Draa Sfar and the now exhausted Kettara deposit. Other deposits in the region include world-class phosphate deposits and skarn wolfram-gold and epithermal lead-zinc-silver deposits associated to calc-alkaline magmatism in the High Atlas system. World-class uranium deposits (Arlit and Akouta) occur in Niger in continental sandstones and conglomeratic sediments of Carboniferous age. Other younger “sandstone type” uranium deposits have also been identified, as for instance the important Imouraren deposit located in sandstones of a Jurassic age. Permian-Triassic Significant coal deposits from the Permian-Triassic (approximately 300–200 Ma) occur throughout southern Africa in Permian deltaic and fluvial clastic sediments assigned to the Karoo Supergroup. These significant coal resources are exploited in many countries for power generation, coking coal, synfuel generation, and gasification. Cretaceous-Paleogene The world-class sedimentary phosphate deposits of northern Africa were formed during the Late Cretaceous (145–23 Ma) through to the Eocene. A large number of epigenetic MVT-type Pb-Zn ± F ± Ba occurrences of Cretaceous to Miocene age hosted in Lower to Middle Jurassic unmetamorphosed 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA | 15 platform carbonates are associated with the closing stages of the Alpine orogeny in northern Africa. High-grade manganese deposits also occur as fills and replacements in karst features of dolostones of this age. Southern Africa is well-endowed with diamondiferous kimberlites, with occurrences in Angola, Botswana (for example, Orapa), South Africa (Premier mine, now called Cullinan), Kimberley, Venetia, and so on; and Zimbabwe, Tanzania, Lesotho and the Democratic Republic of Congo. Most of these kimberlites (Group II, orangeite) have an age of 130–110 Ma, whereas Group I (Kimberley) has an age of about 90 Ma. There are major alkaline and carbonatite complexes along transform faults in Angola and Namibia, associated with the continental Etendeka flood basalts, for instance the Ondura Korume carbonatite, which host uranium and rare earths mineralization. Similar and broadly coeval mineralized intrusions are also associated with the triple-junction rift Karoo lavas in southern Africa, as for instance the breccia pipe hosting the Messina Cu deposit. Late Miocene-present This period (<16 Ma) is rich in secondary, surficial, residual (lateritic), and detrital mineral deposits. These include significant Cenozoic lateritic bauxites over Mesozoic dolerites, oolitic iron ore, and large potash-bearing evaporites in the Danakil depression of Eritrea and Ethiopia, as well as large detrital accumulations of heavy mineral sands and diamonds primarily in marine, but also as placers in fluvial terraces particularly in Southern and West Africa. Active mineral deposition still takes place in the form of metalliferous brine pools in the Red Sea and in lakes along the East African rift system, and of marine phosphate nodules (glauconitic green sands) on the continental slope, and manganese nodules and incrustations, often cobalt-rich on the sediment-starved depths below it. Some of these deposits along the Atlantic coast of Africa are currently being considered for possible exploitation. History of major mineral discoveries and mine developments in Africa Early mining Strictly speaking the earliest form of mining in Africa dates back 120,000 years when iron oxides (ochres) for body and other decorations was mined in the southwestern part of the continent (Chirikuri, 2018). Conventional mining and metallurgy, however, took place first in Egypt for copper and gold during the Copper Age (5000–3000 BCE), followed by tin in the Bronze Age (3000–1500 BCE), and finally for iron after about 800 BCE. Mining, however, started later in other parts of Africa: around 800 BCE in North, West, Central and East Africa, and in the first millennium CE in Southern Africa, following the Bantu migration southward from northwest Africa. Thus, artisanal mining and smelting of gold, copper, tin and iron ore were widespread in Africa to forge utensils and jewels that were traded for many centuries among neighboring communities and throughout the continent. For instance, this trade occurred along the trans-Saharan trade route, which connected sub-Saharan Africa to North Africa and through it to Europe. Many Arab camel caravans 16 | MINERAL RESOURCES OF AFRICA ploughed this trade route, particularly between the 7th and 14th centuries, and to a lesser degree until the 19th century, carrying gold, ivory and hides from the kingdoms of Mali and Ghana and beyond, in exchange for salt (a commodity widely mined and traded in pre-colonial times in Africa), along with cloth, paper and horses. However, limited mining technology and particularly the inability to dewater mines, limited the depth of early artisanal mining. Consequently, potentially rich but deeper deposits had to be abandoned. Indeed, many ancient shallow workings and active artisanal mines in sub-Saharan Africa led to the major mineral discoveries and developments of the colonial era, and artisanal mining sites are still guiding modern mineral exploration. Mineral exploitation in the colonial era The rush to secure mineral supplies for a rapidly industrializing Europe stimulated the deeper penetration and eventual colonial partition of Africa in the last quarter of the 19th century, with the establishment of foreign-owned, primarily British, Belgian, and Portuguese, and later French mining enterprises dominating mineral-endowed economies. Emphasis was initially on precious minerals, such as the discovery of diamonds along the banks of the Vaal River in the Kimberly in 1867, eventually leading to the discovery of diamantiferous pipes in 1871, and deep gold mineralization in the Witwatersrand basin in 1886. But exploration soon extended to coal, copper and cobalt, particularly in the North-western Cape at Sprinbokfontein in 1852 and in the Copperbelt in the British colony of Northern Rhodesia in 1895 and subsequently in the Belgian Congo. Manganese in modern Ghana and tin in Nigeria soon followed, spurred by technological advances at the dawn of the 20th century and under the impetus of world conflicts. Later significant discoveries included PGE and phosphate rock. Most of the foreign capital invested in Africa and significant European migration from 1870 onwards was directed to mining. Because of their importance, mining interests exerted significant influence on the political control of colonies, influencing their investment in transport and power infrastructure, and their labor, mineral governance, and security/order laws. Post-World War II development and nationalization Colonial policies started to change after the conclusion of World War II with the establishment of several development-oriented institutions designed to foster public/private partnership, such as the British Colonial Development Corporation and the Bureau Minier de la France d’Outre-Mer. This period, as comprehensively discussed by Dixey (1962), President of the Association of African Geological Surveys, saw a resurgence of activities in geoscience, mineral exploration and development and the establishment and/or expansion of Geological Surveys in most African jurisdictions. This resulted in significantly improved rates of mineral discoveries, some of which were of significant size and economic importance, defining the postcolonial economic structure of African mining countries. The reconstruction effort in Europe was strongly helped by mineral imports from Africa, particularly of iron ore from Guinea, Liberia, Mauritania and Sierra Leone, and from the early 1950s of bauxite from Guinea. Gabon and South Africa started exporting uranium, followed by Niger after the discovery of vast uranium resources in its territory. By the end of the colonial era Africa 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA | 17 was also exporting large tonnages of rock phosphates, manganese, base metals, cobalt, chromite, and asbestos. Globalization and privatization of the African mining industry As African countries progressively acquired their independence, their mining sector remained largely controlled by foreign entities. In many countries the mining industry accounted for a large proportion of the economy and most of the mining profits were remitted to their foreign owners. This created political resentment and a push for nationalization of the industry, by vesting minerals in the state, and setting up state mining enterprises to take substantial equity in existing mining companies. Nationalization drove away foreign investment in exploration and development, and stunted investments in value- adding downstream processing, limiting exports to raw materials. The inability of most countries to generate adequate domestic capital, combined with a scarcity of critical technical and administrative skills necessary to sustain the industry, contributed to this economic policy being unsustainable and largely unsuccessful in most cases. The situation was aggravated by falls in commodity prices to the point where nationalized mines in some countries had to be subsidized. Subsequently countries gradually accepted the benefits of significant reform of their regulatory and fiscal regimes for their mining sector in a world where this industry was becoming increasingly globalized, and where jurisdictions had to compete to attract scarce and mobile capital. The late 1980s and 1990s saw a rush in African countries drafting modernized versions of their Mining Acts and related fiscal legislation. Strong efforts were and continue to be made to improve the gathering and distribution of geoscience information in an endeavor to create a perception of mineral prospectivity, which is the main factor in attracting mining investment. The results have generally been very positive, with most parts of Africa becoming much more desirable mining investment destinations in the last two decades for a handful of major multinational enterprises (MNEs), as well as hundreds of middle-size foreign exploration companies. Many of the latter are Australian and Canadian, and are funded through equity raised on foreign stock exchanges. Over the last couple of decades, companies largely owned by the Chinese government have also emerged as major and growing investors in the African extractives sector. The South African Institute of International Affairs (SAIIA) indicates that, between 2005 and 2017, Chinese companies invested $58bn in mining and mineral related industries, including investments under the Chinese “Belt and Road” Initiative. Since then, annual Chinese investment in mining in Africa has been growing, averaging over $10 billion with peaks of over $11 billion in 2019 and in 2023, bringing the total to just under $120 billion. This has led to significant success from a technical point of view, with many important mineral discoveries and mining developments taking place in recent years. However, technical success has not always been matched by improved mineral policy and relations between government and industry. Many governments have come to assess that the benefits derived from mining investments in their countries fall short of initial promises and expectations. Their feelings are often justified. Some of the “stability agreements” signed in the past appear to have locked in conditions with long-term consequences poorly understood at the time of negotiation. More recently, regulating and taxing cross-border transactions by MNEs involving transfer pricing in a now highly globalized industry has become highly fiscally complex. On the other hand, companies complain about the difficulty of dealing with complex and generally insufficiently transparent regulatory and fiscal regimes that are subject to frequent changes with inadequate consultation, and of poor governance practices which result in adversarial industry-government relations. 18 | MINERAL RESOURCES OF AFRICA The future of the African mining industry In spite of the challenges, the medium to long-term outlook for mineral exploration and mining in the African continent is positive. This is because renewed FDI in mineral exploration and development is likely to be boosted by the projected significant growth in demand for both “major” (Tawari et al., 2021), and “energy technology” minerals (World Bank, 2020), fueled by the metal-intensive transition to clean energy following the zero-emission by 2050 pledge made by a majority of countries at successive Conferences of the Parties (COP) to the UN Framework Convention on Climate Change. Indeed, the mineral demand projections under a 1.5o to 2o C temperature constraint scenario represent highly significant increments above an already substantial projected increase in demand, due to continuing growth in world population and its migration to urban areas, seeking ever increasing living and environmental standards. While realistic estimates of the increase in demand for minerals under different energy-transition scenarios can be made within reasonable bands of confidence, there is a great degree of uncertainty as to the sources of the metal supply to satisfy this demand, both in terms of resources and, above all, of mining and processing capacity. Over the next two decades many currently operating mines will be exhausted. Recycling and substitution notwithstanding, new ones will need to be discovered and developed against a background of increasing exploration maturity in most traditional mining jurisdictions, and increasing societal expectations in the area of mining environmental, social and governance (ESG) behavior. The industry’s focus and investment may have to shift progressively once again towards Africa, given its potential to secure dwindling supplies. This will likely force industry and governments to consider each other’s needs and expectations in a new light and negotiate more balanced and implementable compromises to bring about the necessary mine developments. This favorable outlook for Africa’s mineral export opportunities attributable to the energy transition is supported by research by Galeazzi et  al. (2021); their research also concludes that export of hydrocarbons may decline less rapidly than some predict during the transition, and has the potential to remain a significant source of revenues for the continent over the short to medium term. Nonetheless, Galeazzi et al. (2021) also conclude that the ability for African economies to benefit from rising demand for certain metals and minerals depends on the responsiveness of investment and mine expansion. The research observes that, on trend, any increase in demand is likely to be met by supply side responses dampening upward price effects, but also suggests that low short-term supply elasticity of supply may generate price volatility; an important factor in re-directing investment to countries and regions most able to rapidly expand their share of global mineral production. Although promising geology will be important, policy, regulatory and investment conditions will also play pivotal roles in supplying the metals required by the clean energy transition. Chapter 2 Bibliography Barley, M.E., and D.I. Groves. 1992. “Supercontinent cycles and the distribution of metal deposits through time.” Geology 20: 291–294. https://doi.org/10.1130/0091-7613(1992)020%3C0291:SCATDO %3E2.3.CO;2 Briskey, J.A. and K.J. Schulz, eds. 2007. “Proceedings for a workshop on deposit modeling, mineral resource assessment, and their role in sustainable development”. US Geological Survey Circular, 1294. https://pubs.usgs.gov/circ/2007/1294/ 2. GEOLOGICAL AND METALLOGENIC HISTORY OF AFRICA | 19 Buoabdellah, M. and J.F. Slack, eds. 2016. Mineral Deposits of North Africa. Cham, Germany: Springer. Canfield, D.E. 2005. “The early history of atmospheric oxygen: Homage to Robert M. Garrels.” Annual Review of Earth and Planetary Sciences 33(1): 1–36. https://doi.org/10.1146/annurev.earth.33.092203.122711 Dauteuil, O., J. Bouffette and F. Toteu. 2009. “The changing faces of Africa: Element of African Geology.” Commission for the Geological Map of the World. Dirks, P.H.G.M., T.G. Blenkinsop and H.A. Jelsma. 2002. “The Geological Evolution of Africa.” In Geology, vol. IV, edited by B.D. Vivo, B. Grasemann, and K. Stüwe, 230–265. Oxford: EOLSS/UNESCO. Dixey, F. 1962. Geology, Applied Geology (Mineral Resources) and Geophysics in Africa. UNESCO/NS/NR/2 (Rev.2 extract). Paris: UNESCO. https://repository.uneca.org/handle/10855/7163?locale-attribute= en&show=full Geleazzi, C., Steinbuck, J. and Cust, J., (2020). Africa’s resource export opportunities and the global energy transition. World Bank Group’s Knowledge Note Series for the Energy & Extractives Global Practice (2020/111) Groves, D.I., R.M. Vielreicher, R.J. Goldfarb, and K.C. Condie. 2005a. “Controls on the heterogeneous distribution of mineral deposits through time.” In Mineral Deposits and Earth Evolution, edited by I. McDonald, A.J. Boyce, I.B. Butler, R.J. Herrington, and D.A. Polya, 71–101. London: Geological Society Special Publications 248. https://doi.org/10.1144/GSL.SP.2005.248.01.04 Groves, D.I., K.C. Condie, R.J. Goldfarb, J.M.A. Hronsky, and R.M. Vielreicher. 2005b. “Secular changes in global tectonic processes and their influence on the temporal distribution of gold-bearing mineral deposits.” Econ. Geol. 100(2): 203–224. https://doi.org/10.2113/gsecongeo.100.2.203 Groves, D.I. and F.P. Bierlein. 2007. “Geodynamic settings of mineral deposit systems.” Geol. Soc. Lond., 164(1): 19–30. https://doi.org/10.1144/0016-76492006-065 Meert, J.G. and B.S. Lieberman. 2008. “The Neoproterozoc assembly of Gondwana and its relationship to the Ediacaran-Camrian radiation.” Gondwana Research, 14(1–2): 5–21. https://www.sciencedirect. com/science/article/abs/pii/S1342937X07001360 Ohmoto, H. 2004. “Archean atmosphere, hydrosphere, and biosphere.” In The Precambrian Earth: Tempos and Events, edited by P.G. Erickson, W. Altermann, D.R. Nelson, W.U. Mueller, and O. Catuneanu, 361–368. Developments in Precambrian Geology, vol. 12. Amsterdam: Elsevier. Pirajno, F. and M. Santosh. 2015. “Mantle plumes, supercontinents, intracontinental rifting and mineral systems.” Precambrian Research 259: 243–261. https://doi.org/10.1016/j.precamres.2014.12.016 Rogers, J.J.W. and M. Santosh. 2004. Continents and Supercontinents. Oxford: Oxford University Press. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT General considerations The minerals sector is a main and growing component of the economic output and exports of many African nations, accounting over the last decade for an average of 8.8 percent of the GDP and 51.2 percent of the exports of 15 mineral-rich Sub-Saharan countries (Albertin et al., 2021). Despite being generally recognized as under-explored, the African continent already hosts a large proportion of the world’s mineral resources. These include the world’s largest current resources of PGE (76.3 percent) and industrial diamonds (40.8 percent), ferroalloy metals such as cobalt (50.5 percent) and manganese (66.4 percent), phosphate rock (59.5 percent), and bauxite (56.1 percent), as well as important deposits of gold, iron ore, heavy mineral sands, salt and potash, and energy minerals such as coal and uranium. In addition, the continent is also emerging as an important source of critical minerals that are the fundamental inputs in the manufacturing of EV batteries and other clean-energy technologies. Besides cobalt and manganese, these include vast resources (57.0 percent) of graphite and world-class yet undeveloped resources of lithium. A special Issue of Episodes edited by Viljoen and Wilson (2016) contains an excellent overview of mineral deposits of Africa by Frost-Killian et al. (2016) from which Figure 3.1, showing the geographical distribution of the major African mineral deposits relative to the geological framework of the continent, has been reproduced. A comprehensive list of all the African deposits for various mineral commodities listed in alphabetic order, including their main characteristics, generated from the MinEx database, is provided in Appendix B. In the broader sense the natural mineral endowment of any geological terrane is made up of two components, its: • Current endowment, that is, the total of all mineral deposits known to date, including or excluding historical production; and • Residual endowment, that is, all as yet undiscovered deposits. Generally, and depending on the level of erosion, the largest deposits in any terrane tend to be discovered early in the exploration history because of their generally larger and more easily detected footprint. As the current endowment increases with successive exploration discoveries a terrane becomes progressively more mature and its prospectivity—the chance of making future significant exploration discoveries—decreases. | 21 22 | MINERAL RESOURCES OF AFRICA FIGURE 3.1  Geographical distribution of main mineral deposits relative to the fundamental structural components of the African continent. Source: Frost-Killian et al., 2016). 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 23 At the level of individual deposits, the mineral endowment is quantified in terms of the tonnage and grade of the mineralized material. Depending on the degree of confidence in terms of their delineation, mineral resources can be classified under the Australian Joint Ore Reserves Committee Code (JORC) (2012) and similar other codes as measured, indicated and inferred (MI&I) (Figure 3.2). Furthermore, as shown in Figure 3.2, those measured and indicated resources that have a realistic chance of sustaining commercial exploitation are further classified as Reserves and categorized as Proven or Probable. It must be noted that as the information contained in the MinEx database has been derived largely from company reports and announcements to various stock exchanges, the level of confidence is broadly in line with the requirements of the Australian JORC code, the Canadian National Instrument 43-101 (NI 43101), and the similar South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC, 2016) which regulate the publication of mineral exploration reports on their respective stock exchanges. This is not the case for the reserves quoted in the USGS Mineral Commodity Summaries (2024) which adhere to a less restricted definition of reserves, as outlined in Appendix C of their publication. USGS’s definition of reserves includes that proportion of the “reserve base”, namely demonstrated (measured plus indicated) resources that have a reasonable potential for becoming economically feasible within the current planning horizon, general economic conditions, and technology. In effect, besides the JORC compliant “proven” and “probable” reserves, it includes a larger proportion of the Indicated Resources delineated to a less stringent level of confidence. As a result, the levels of reserves of various minerals as extracted from the MinEx database are not directly comparable with and invariably lower than those quoted by the USGS. This difference is often acknowledged in the USGS Mineral Commodity Summaries by way of footnotes at the bottom of some FIGURE 3.2  Resources and reserves classifications. Source: Australian Joint Ore Reserves Committee (JORC, 2012) Code. 24 | MINERAL RESOURCES OF AFRICA of their mineral tables, particularly regarding Australian reserves. Wherever possible both reserves figures have been provided in the summary tables of this section. There is also clear evidence that the resource inventory of most minerals continues to increase over time well above production depletion, because of better delineation of the resources of existing deposits and their re-classification in response to changes in prices and production costs. These are the so-called JORC’s “Modifying factors”. Furthermore, for some commodities such as cobalt, a large proportion of their supply is derived as a byproduct of mining of other commodities (for instance copper). Where this is the case, the summary tables in this section differentiate the tonnages of resources and reserves between primary and byproduct sources. The USGS Mineral Commodity Summaries (2024) also provide figures relating to world mineral production broken up by countries. The production figures for countries with small levels of production are bunched up by the USGS under the general heading of “others”, irrespective of on which continent the countries are located. This makes it difficult to estimate what a proportion of production from small producers in these “others” countries originated from Africa. Consequently, the production figure for Africa obtained by cumulating the production of individually specified countries is in some cases conservative. Grades are generally expressed in terms of the percentage by weight of the valuable metals/elements contained in the ore. Comparison between different monomineralic ore bodies can be made reliably. However, when the ore also contains, a range of valuable byproduct metals besides the primary metal, comparisons can only be made by converting the values of the latter into primary metal equivalent percentages. To allow comparison among deposits of different minerals, the MinEx database also provides an estimate of the aggregate total mine-site value of grades expressed as dollars per metric ton of ore which includes both the value of primary and byproduct metals. This is based on the average historic price for each of the metals over the preceding three years (the current database is updated to June 2024), with further adjustments for likely recovery rates, transportation and treatment and refining charges. As already pointed out, these values must be considered to be “indicative” as they only reflect the “price” realizable for the ore at the mine gate, and do not take into consideration the capital, recurrent operating, royalty and tax expenses that would have to be incurred in developing and operating the individual projects. As discussed in detail in Appendix A, the MinEx database also classifies mineral deposits in terms of “Tiers”, where Tier 1 deposits are large, long-lived and low-cost, and hence very profitable. Tier 2, while important, are smaller than Tier 1 but economically attractive and profitable other than at the bottom of the business cycle, and Tier 3 are generally smaller or lower grade, and in most cases economically marginal unless developed as satellites of existing operations. Regional distribution of African mineral resources The current African mineral endowment is broken down below as shown in Figure 3.3 into its five regions and their main mining nations to ensure consistency and comparability with the regional prospectivity analysis carried out in the following chapter. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 25 FIGURE 3.3  Map displaying the five African regions used in this study. Of the 1888 African mineral deposits listed 586 are currently operating mines, and 539 are projects at various stages from advanced exploration through feasibility to development/construction. The remainder are past producers which have either been permanently closed or are currently under care and maintenance, and other generally less attractive and inactive deposits. Table 3.1 provides the pre-mining gross mine-site value of the original resources of current mining operations broken up regionally and into the value of their primary minerals, and their total value, including that of byproducts. The fact that the aggregate mine-site value of the resources is extremely high (thousands of billions of dollars) does not necessarily imply that high net values could be realized from their exploitation. The net present value (NPV) of individual mines is obtained after deducting from their revenue all capital and recurrent operating expenses, mineral royalties and corporate income 26 | MINERAL RESOURCES OF AFRICA TABLE 3.1  Gross mine-site value of primary minerals and total resources including byproducts of currently operating African mines. Number & Mine-Site Value of the Resources of Currently Operating Mines REGION Number Value ($ million, 2023) Primary Mineral Total Mine WEST AFRICA 148 2,161,386 2,164,136 NORTH AFRICA 29 4,325,289 4,334,961 EAST AFRICA 70 546,519 568,421 CENTRAL AFRICA 53 1,210,922 1,391,704 SOUTHERN AFRICA 286 13,767,930 14,225,209 TOTAL FOR AFRICA 22,012,046 22,684,431 tax, and after discounting the related cash flows at an appropriate time and risk adjusted rate. As a result, the NPV may range from negative to very significant and vary over time, largely as a function of changes in mineral prices. Table 3.2 provides a set of similar total mine-site values, including the value of the primary mineral plus that of all possible byproducts, relating to the as yet undeveloped resources, broken up into those of different deposit tiers. The total mine-site value of as yet undeveloped resources in Table 3.2 is of the same order of magnitude as that relating to the currently operating mines as displayed in Table 3.1, but any benefit to be realized from them is dependent on the probability and the timing of their possible future development. Not surprisingly, the degree and the speed at which deposits are developed are a function of their quality as captured by their Tier classification. Analysis of the development history of all current and past African mines shows that 96 percent of Tier 1, 80 percent of Tier 2, 52 percent of Tier 3 and 14 percent of Tier 4 deposits were developed over the last one and half century. The analysis also shows that the time gap between discovery and development for all Tier 1 deposits for which relevant dates are available averages around 16 years, while that for Tier 2 deposits averages around 19 years. However, if gold and diamond deposits are removed from the sample, this time gap increases to 19 and 27 years respectively. Although development was generally rapid during the colonial times, some of the Tier 1 deposits were not developed for up to 60 to 90 years, with the maximum time gap for Tier 2 deposits being 107 years. Inevitably some deposits may not be developed even though these are potentially highly valuable, primarily because of increasingly stringent environmental and socio-political expectations. While the highest probability of development is in Tier 1 deposits, most of the value of undeveloped deposits, as shown in Table 3.2, is in Tier 2 and particularly Tier 3 deposits. Aside from coal, from the perspective of individual commodities most of the value rests with bulk minerals (Fe and Al), precious metals (Au and PGE), copper, and some of the upcoming specialty and battery metals. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 27 TABLE 3.2  Mine-site value of primary and total resources of undeveloped African mineral deposits broken up by Tier categories. Number and Mine-Site Value of Undeveloped Resources by Regions ($ million, 2023) All Tiers and REGION Tier 1 Tier 2 Tier 3 Others Tiers 1 & 2 Tiers 1 to 3 Unclassified WEST AFRICA Value 0 509,460 1,095,906 602,991 509,460 1,605,366 2,208,357 Deposits 0 13 79 161 137 92 253 NORTH AFRICA Value 0 480,000 246,286 52,173 480,000 726,286 778,459 Deposits 0 1 10 31 1 1 42 EAST AFRICA Value 0 447,664 1,315,176 325,399 447,664 1,762,841 2,088,239 Deposits 0 5 40 81 5 45 126 CENTRAL AFRICA Value 90,676 576,026 1,035,195 280,866 666,703 1,701,898 1,982,763 Deposits 1 9 30 52 10 40 92 SOUTHERN AFRICA Value 152,481 2,932,560 16,528,046 3,325,582 3,085,040 19,613,087 22,938,668 Deposits 3 10 119 203 13 132 335 TOTAL FOR AFRICA Value 243,157 4,945,710 20,220,610 4,587,009 5,188,867 25,409,477 29,996,486 Deposits 4 38 278 528 42 320 848 These aspects will need to be taken into consideration by governments when framing their resource- development policies. In addition, asides from their significant contribution to government revenues in terms of mineral royalties and corporate income tax, each Tier 1, 2 and 3 mine that may be developed, disregarding its development and construction phase, may create on average 4000, 1250 and 300 direct operating jobs respectively. If one conservatively assumes that the African mining job multiplier is like that in the USA, that is, a direct multiplier of 2.24 and an indirect one of 1.66 (Bivens, 2019), then around 15,000, 4875 and 1170 jobs would be created respectively in the broader economy, all subject to personal income tax. In terms of expenditure multipliers, the WBG (2019) estimates that African mining jurisdictions have multipliers ranging between 1 and 2, meaning that for each dollar directly spent in mining their GDP increases by an additional $1 to $2. Thus, while not an ideal measure, the mine-site value of the undeveloped resources still provides a comparative framework of the potential scope of future development among different African regions. The picture is of course dynamic and susceptible to change in response to possible future rates of global economic growth, exploration discoveries and technological developments. 28 | MINERAL RESOURCES OF AFRICA West Africa As shown in Table 3.3, the West Africa Region includes 16 nations: Benin, Burkina Faso, Cabo Verde, Côte d’Ivoire, the Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, and Togo. The region covers an area of 6.1 million square kilometers, equivalent to 20.1 percent of the continent land surface, and is inhabited by 456.3 million people or 30.1 percent of the total African population. Its nominal GDP is $719.8 billion, or 24.5 percent of the total African output. The region contains a total of 454 “significant” mineral deposits as well as world-class petroleum resources. The geographical location of all the mineral deposits is displayed in Figure 3.4, where Tier 1 deposits are characterized by the largest symbols, and Tier 4 and unclassified by the smallest ones. In addition, deposits are differentiated between operating mines (circles), as yet undeveloped deposits (diamonds), and closed mines (squares). Both mines and undeveloped projects are color coded into the seven main commodity groups including gold, precious (PGE, silver, diamond and gemstones), base metals (copper, zinc, lead and nickel), uranium, mineral sands, bulk minerals (coal, iron ore, bauxite and phosphate rock), and others, covering a large variety of metallic and industrial minerals. Similar regional mineral endowment maps have also been produced for the other four regions. TABLE 3.3  Number of mineral deposits and their contained metal for the main mineral commodities in West Africa. Number of Significant Deposits Total Gold Copper Nickel Zinc/Lead Uranium Diamonds Coal Iron Ore Other West Africa 454 280 2 9 1 16 19 8 56 63 Benin 4 1 - - - - - - 2 1 Burkina Faso 65 60 1 1 1 - - - - 2 Cabo Verde - - - - - - - - - - Côte d’Ivoire 46 35 - 3 - - 2 - 6 - Gambia - - - - - - - - - - Ghana 86 74 - 3 - 2 2 - 8 - Guinea 84 71 - 3 - - - - 9 24 Guinea-Bissau 2 - - - - - - - 2 8 Liberia 17 7 - - - - 1 - 9 - Mali 62 51 - 1 - - - - 2 8 Mauritania 19 3 1 1 4 - - - 9 1 Niger 23 11 - - - 10 - - 1 - Nigeria 21 4 - - - - - 8 6 3 Senegal 20 15 - - - - - 7 4 - Sierra Leone 21 3 - - - - 5 - 7 6 Togo 4 1 - - - - - - - 3 (continues) 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 29 TABLE 3.3  Number of mineral deposits and their contained metal for the main mineral commodities in West Africa. (Continued) Total Contained Metal MOz Au Mt Cu Mt Ni Mt Zn 1 Pb Kt U3O8 M Carats Mt Coal Mt Fe West Africa 665.8 2.3 5.9 1.2 818.9 no data 1697 21506 Benin 0.3 - - - - - - - Burkina Faso 101.6 1.2 0.3 1.2 - - - 230 Cabo Verde - - - - - - - - Côte d’Ivoire 62.2 0.3 4.2 - - - - 615 Gambia - - - - - - - - Ghana 261.3 - - - - - - 511 Guinea 54.0 - 1.4 - 8.9 - - 4531 Guinea-Bissau - - - - - - - 5462 Liberia 8.0 - - - - - - - Mali 126.7 0.1 - - 14.0 - - 126 Mauritania 16.4 0.8 0.0 - 51.4 - - 3727 Niger 6.7 - - - 744.6 - - 82 Nigeria - - - - - - 1697 917 Senegal 22.9 - - - - - - 224 Sierra Leone 4.0 - - - - - - 5082 Togo - - 0.1 - - - - - From the mineral exploration and mine development point of view, West Africa has in recent years been the most active and successful region of Africa. Many significant gold discoveries and rapid developments have seen the region’s gold production rise to the current (2023) 513.8 metric tons, or 16.2 percent of total world production. Ghana has been particularly successful, gradually climbing in the international world rank of producers to number 6, just ahead of Kazakhstan. Significant production and exports of 97 Mt of bauxite from Guinea accounted for 24.5 percent of total world production in 2023; once the giant Simandou iron-ore deposit is developed, the country could see, within a few years, exports in excess of 100 Mt per annum of high quality (65 percent Fe) ores, which will challenge the traditional market dominance of Australia and Brazil. Benin Benin has one moderate gold placer operation and undeveloped deposits of iron ore and phosphate rock. Burkina Faso Aside from two moderate and major copper projects at the advanced stages of exploration, the Burkina Faso mining industry is dominated by gold with a total of 60 projects, all of orogenic mesothermal origin. Twenty-three of these are operating mines, including three giant Tier 2 and 3 operations (Essakane, Nana and Bonbore) and 12 major deposits. Some of these rank at Tier 2, for instance Mana and Bissa-Zandkom. 30 | MINERAL RESOURCES OF AFRICA FIGURE 3.4  Geographical location of West Africa’s mineral deposits of various commodity groups broken down by operating mines, closed mines, and undeveloped deposits. Cabo Verde There are no significant mineral deposits in Cabo Verde. Côte d’Ivoire Côte d’Ivoire has 35 gold deposits of which 6 are operating mines, including the giant Tier 2 Iti mine. The remaining projects are at various stages of development, with many falling in the major category, including one (Tongon) ranking Tier 2. The most important, still undeveloped projects are the giant Tier 2 Sipilou nickel-cobalt laterite, the largest of its kind in Africa, and the major Samapleu mafic intrusion hosted nickel-copper-cobalt-PGM deposit. Modest amounts of iron ore and mainly artisanal alluvial diamonds are also produced in the country. The Gambia The Gambia has no significant mineral deposits. Ghana Mining in Ghana is dominated by gold, but the country is also a major producer of alluvial diamonds (Birim), manganese, bauxite, iron ore and phosphate rock. There are a total of 74 gold projects in the country, of which 30 are operating mines and 11 are giant, including important Tier 1 deposits such as Ahapo, Bogoso-Prestea, Obuasi and the famous Tarkwa paleoplacer. Tier 2 giants include Akyem and Bibiani. Eleven other deposits are classified as major, with some such as Abosso and Chirani ranking at Tier 2 on account of their high grade. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 31 The Nsuta major Tier 3 manganese mine produces carbonate ore, which is in strong demand for processing into high purity products for use in the EV battery industry. Current bauxite production from the major Tier 3 Nyinahin mine will soon be complemented by adjacent developments. Guinea Guinea has significant resources and is an expanding producer of a variety of minerals, including world-class iron ore and bauxite deposits, gold and Ni-Co laterite. Six giant bauxite deposits include two Tier 1 (Boffa and Sangaredi) and three Tier 2 (Kumbia, Santu- Houda and Telimele). In addition, there are nine major and several other deposits of various Tier ranks. Of even greater world importance is the iron-ore sector that includes seven deposits, of which three are giant Tier 1 (Simandou) and Tier 2 (Nimba and Pierre Richaud). At the time of writing there was an expectation that the Simandou deposit development would be completed and commence export of iron ore by 2026, albeit initially on a modest scale. The country’s gold sector includes several operating mines and advanced development projects, including two giant Tier 2 deposits (Diguiraye [Lefa] and Siguiri) and six major Tier 3 deposits. The country also hosts one hard rock and several diamond placer operations of generally moderate size. Guinea Bissau There are modest undeveloped phosphate and bauxite resources in Guinea Bissau. Liberia Liberia has three giant Tier 2 and Tier 3 iron-ore deposits, including one operating mine (Bong) and one development project (Putu Range) that appears to be stalled, as well as two advanced major Tier 3 deposits. The country also hosts two major Tier 3 gold deposits, of which one is an operating mine (Bea Mountain) and the other at the feasibility stage, together with three other operating mines and two undeveloped deposits, all of moderate size. Mali The mining sector in Mali is dominated by gold (with 16 operating mines) and offers promising development opportunities for lithium, and to a lesser extent for iron ore and bauxite. The country hosts a total of 51 gold deposits, of which six are giant deposits including three Tier 1 (Loulo, Morila, and Sadiola) and three Tier 2 (Fecola, Gounkoto, and Syama). Fifteen are major and the rest are moderate-sized deposits at various stages of exploration and/or development. Mauritania Mauritania has a long tradition of iron-ore mining, with four major Tier 2 and Tier 3 operating mines (Idjil Kedia, Guelb el Rhein, M’Haoudat, and Tazadit), and two giant Tier 3 projects at the advanced stages of exploration/feasibility. 32 | MINERAL RESOURCES OF AFRICA A giant Tier 2 gold operation is located at Tasiast, with a major extension project at the feasibility stage. Advanced undeveloped projects are also under examination for phosphate and uranium. Niger Nine uranium projects dominate Niger’s mining, including one giant Tier 1 operating mine at Somair. A giant Tier 2 development at Imouraren appears to have stalled. There is also a major Tier 2 development at Madaouela. Three moderate gold mines and a giant but low-grade undeveloped phosphate deposit (Tapoa) complete Niger’s mineral endowment. Nigeria With 233 million people, Nigeria is the most populous nation in Africa. It is also its fourth largest economy with $253 billion GDP in 2023. Aside from a moderate thermal coal operation and a major tin mine, Nigeria’s mineral endowment includes one moderate gold mining operation (Segilola), undeveloped major iron-ore projects, and two moderate lithium projects. Senegal There are three major Tier 3 gold operating mines (Mako, Masato, and Sabodala) in Senegal, and ten deposits at the advanced exploration to development stages. These include eight major ones, mostly Tier 3 but also a Tier 2 high-grade deposit (Massawa). The country also hosts a major Tier 2 mineral sands mine rich in zircon (Grand Côte) and a major and moderate phosphate rock operations. Sierra Leone Sierra Leone has significant resources of iron ore, including a giant Tier 3 mine on care and maintenance (Tonkolili), and four major Tier 3 to 4 deposits, of which one is an operating mine (Marampa). In addition, Sierra Leone features the giant Tier 1 Sierra Rutile mineral sands operations, and a major Tier 3 hard rock (Kuidao) and two moderate alluvial (Kongo and Njei Bafi) diamonds operations. Two major and moderate as yet undeveloped gold deposits complete the country’s mineral endowment. Togo Togo hosts two giant Tier 2 phosphate rock deposits, one of which (SNTP) is currently in operation. North Africa As shown in Table 3.4, the North Africa Region includes five nations: Algeria, Arab Republic of Egypt, Libya, Morocco, and Tunisia. The region covers an area of 6 million square kilometers, equivalent to 20 percent of the continent land surface, and is inhabited by 221.7 million people, or 14.6 percent of the total African population. Its nominal GDP is $865.8 billion, or 29.5 percent of the total African output. The region contains a total of 98 “significant” mineral deposits, as well as world-class petroleum resources. It is the uncontested world leader in terms of resources and production of phosphate rock, and hosts moderate to major iron ore, cobalt, zinc-lead, silver, and gold mining operations and 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 33 TABLE 3.4  Number of mineral deposits and their contained metal for the main mineral commodities in North Africa. Number of Significant Deposits Total Gold Copper Nickel Zinc/Lead Uranium Diamonds Coal Iron Ore Other North Africa 98 23 7 - 14 4 - 2 13 35 Algeria 22 6 - - 7 3 - - 4 2 Egypt 18 10 - - - - - 2 2 5 Libya 1 - - - - - - - - - Morocco 51 7 7 - 6 1 - 1 5 24 Tunisia 6 - - - - - - - 1 4 Total Contained Metal MOz Au Mt Cu Mt Ni Mt Zn 1 Pb Kt U3O8 M Carats Mt Coal Mt Fe North Africa 26.3 2.9 0.1 20.1 44.5 No data 83 2529 Algeria 3.8 0.1 0.1 20.1 8.6 no data - 1500 Egypt 19.6 0.0 - - 0.0 - 20 456 Libya - - - - - - - 411 Morocco 2.9 2.7 0.1 10.5 5.0 - 63 130 Tunisia - - - 1.0 - - - 32 advanced exploration projects. According to the USGS’s Mineral Commodity Summaries 2024, in 2023 the region—primarily Morocco—held reserves of 57.5 Bt, or 77.5  percent of total world reserves of marketable phosphate rock, and produced 45.2 Mt or around 20.5 percent of total world production. The geographical locations of all the mineral deposits are displayed in Figure  3.5, using the same symbols as those used for the West Africa region in Figure 3.4. Algeria The largest country in Africa, Algeria has a land area of 2.38 million square kilometers. It has a giant Tier 2 phosphate rock deposit (Djebel Onk) that is a major world-class producer. The country has a long iron-ore mining tradition dating back to the dawn of the 20th century, and currently has a major operation at Tebessa and two giant Tier 3 deposits (Gara Djebilet and Mecheri Abdelhaziz) at the advanced exploration and feasibility stages. Algeria’s mineral endowment also includes six high-grade but generally modestly sized gold deposits, none of which is currently in operation; these are being considered for development and/or reopening. Additionally, there are six zinc and three uranium undeveloped deposits under consideration. Egypt Egypt has a giant Tier 2 gold deposit (Sukai) currently being mined in open cut, as well as two deposits at the advanced stage of exploration. 34 | MINERAL RESOURCES OF AFRICA FIGURE 3.5  Geographical location of North Africa’s mineral deposits of various commodity groups broken down by operating mines, closed mines, and undeveloped deposits. The country also has one major (Baharya) and a modest iron-ore mine, and produces a modest amount (4.8 Mt) of phosphate rock. It also has two major but low ranking (Tier 3 and Tier 4) tantalum deposits (Abu Dabbab and Nuweibi) at the advanced exploration and feasibility stages. A moderate mineral sands mine has also recently come on stream. Libya Libya has a single major Tier 3 past iron-ore mine (Wadi Ash Shatti) which started in 1936, produced intermittently and is now being re-assessed. Morocco There are six giant phosphate deposits in Morocco, two of which (Khourigba and Youssoufia) rank at Tier 1 with the remainder at Tier 2. Their combined resources exceed 60 percent of total world phosphate rock resources and make Morocco by far the single major producer of this commodity. Morocco also hosts a major Tier 3 rare primary hydrothermal cobalt deposit (Bou-Azzer) and a giant (Imiter) high-grade silver deposit, both of which have been in operation for over 50 years. One major Tier 3 (Guemassa) and two moderate volcanogenic massive sulfides zinc mines have also been in operation for the last 28 years. Morocco also hosts two moderate copper mines and moderate mines of fluorite, iron ore and manganese. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 35 Tunisia Tunisia has significant phosphate rock resources under exploration/feasibility and a giant Tier 3 producing mine (Gafsa), as well as a moderate stratabound zinc-lead and long-established iron-ore mining operations. East Africa As shown in Table 3.5, the East Africa Region includes 14 nations: Comoros, Djibouti, Eritrea, Ethiopia, Kenya, Madagascar, Mauritius, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Tanzania, and Uganda. The region covers an area of 6.5 million square kilometers, equivalent to 21.6  percent of the continent land surface area, and is inhabited by 442.9 million people or 29.2 percent of the total African population. Its nominal GDP is $582.2 billion, or 19.8 percent of the total African output. The region contains a total of 236 “significant” mineral deposits, as well as world-class petroleum resources. The geographical locations of all the mineral deposits are displayed in Figure 3.6, using the same symbols used for the West Africa region in Figure 3.4. Comoros Comoros has no significant mineral deposits. TABLE 3.5  Number of mineral deposits and their contained metal for the main mineral commodities in East Africa. Number of Significant Deposits Total Gold Copper Nickel Zinc/Lead Uranium Diamonds Coal Iron Ore Other East Africa 236 124 10 12 1 5 2 11 18 53 Comoros - - - - - - - - - - Djibouti - - - - - - - - - - Eritrea 13 5 - - 1 - - - - 1 Ethiopia 29 19 1 - - - - - 7 2 Kenya 17 12 - - - - - - 5 - Madagascar 28 5 - - 4 - - 2 3 14 Mauritius - - - - - - - - - - Rwanda 5 3 - - - - - - - 2 Seychelles - - - - - - - - - - Somalia 5 - - - - - 3 - 2 - South Sudan 2 1 - - - - - - - 1 Sudan 56 45 1 - 6 - - 9 1 - Tanzania 68 31 1 1 6 2 - 8 2 17 Uganda 13 3 1 1 - - - - 2 (continues) 36 | MINERAL RESOURCES OF AFRICA TABLE 3.5  Number of mineral deposits and their contained metal for the main mineral commodities in East Africa. (Continued) Total Contained Metal MOz Au Mt Cu Mt Ni Mt Zn 1 Pb Kt U3O8 M Carats Mt Coal Mt Fe East Africa 168.4 6.4 7.0 5.6 122.4 No data 2932 8975 Comoros - - - - - - - - Djibouti - - - - - - - - Eritrea 6.2 2.2 - 5.3 - - - - Ethiopia 21.7 0.1 0.1 - - - 60 - Kenya 7.5 0.0 - 0.1 - - - - Madagascar 1.6 2.8 - - 11.8 - 1140 207 Mauritius - - - - - - - - Rwanda 0.9 - - - - - - - Seychelles - - - - - 21.9 - 184 Somalia - - - - 1.0 - - - South Sudan 45.7 2.4 - 0.2 - - - 8148 Sudan 83.0 0.8 3.9 82.4 - - 1732 391 Tanzania 0.9 0.4 0.0 5.3 - - - 46 Uganda Djibouti There are no significant mineral deposits in Djibouti. Eritrea Eritrea has a major Tier 2 operating, volcanic hosted massive sulfide, copper-zinc-gold- silver mine (Bishia) and five other similar deposits, including one major Tier 3 and four moderate ones, at the advanced stages of exploration to feasibility. A major Tier 3 potash deposit in the Danakil depression (Colluli) is approaching development. One major and four moderate gold and one zinc deposit at the advanced stages of exploration to feasibility complete the mineral endowment of Eritrea. Ethiopia There are 19 gold deposits in Ethiopia, of which 3 are operating mines. These include Liga Lempa, the largest mine, which is ranked as major in size and Tier 2. The others include four major and a Tier 3 deposit, generally at the advanced exploration to feasibility stage. The country also hosts a giant soda ash operation at Lake Abijada, and two giant Tier 2, as yet undeveloped, potash deposits in the Danakil depression (Dallol and Danakil) at the feasibility stage. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 37 FIGURE 3.6  Geographical location of East Africa’s mineral deposits of various commodity groups, broken down by operating mines, closed mines and, undeveloped deposits. 38 | MINERAL RESOURCES OF AFRICA Kenya Kenya has twelve gold projects at various stages, from exploration to feasibility, including two major Tier 3 deposits (Isulu and Migory). However, with the recent closure of the moderate-size Kamenga mine (in operation since 1933), the country no longer produces any industrial gold. Kenya has four shoreline mineral sands (Ti-Zr) projects, of which one is a moderate-sized operating mine (Kwale). The others, including a major Tier 3 deposit (Kilifi), are at the late exploration to pre- feasibility stages. Development of the giant Tier 3 (Mrima Hill) niobium carbonatite deposit is stalled for environmental reasons, with exploration continuing for rare earths at the moderate-sized Ruri deposit. Madagascar There is a giant Tier 3 operating Ni-Co laterite mine (Ambatovy) in Madagascar and three undeveloped deposits, two of which are major in size and at advanced stages of exploration. The country also hosts a giant Tier 2 mineral sands mine (Mandena) and a major Tier 3 (Toliara) undeveloped deposit at the feasibility stage. There are three graphite deposits, of which one is a moderate-size operating mine (Graphmada) and the others are at the feasibility stage, including the major Tier 3 Molo deposit. Moderate-sized gemstone mines include the Mananajari emerald mine and the Ilakaka River Basin sapphire mine. Projects at the advanced exploration to pre-feasibility stages include two rare earths, niobium, tantalum alkali igneous deposits bearing the same Tantalus name. These include one giant and one major Tier 3 deposit, the latter of which includes zircon as a major constituent of the ore. In addition, advanced deposits of the following commodities are present: bauxite, coal, gold (there is also significant artisanal mining in the country), iron ore and vanadium in shales. Mauritius Mauritius has no significant mineral deposits. Rwanda Rwanda has a moderate-size operating tin mine (Rutongo) and moderate gold and tantalum deposits at the advanced stage of exploration to feasibility. Seychelles There are no significant mineral deposits in Seychelles. Somalia Somalia has undeveloped moderate resources of iron ore and uranium. South Sudan South Sudan has a moderate alluvial gold operation and a moderate undeveloped copper deposit of moderate size. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 39 Sudan Sudan features 45 gold deposits, of which 35 are operating mines including a significant number of moderate alluvial operations. They range in size from giant Tier 2 (Hassai) to five major Tier 2 and Tier 3 (Artisanal alluvial: Block 14, Block 15, and Gherbeit, Jabir and Suarat), with the remainder being advanced exploration projects of moderate size. Sudan also has nine undeveloped iron-ore deposits at various stages of exploration to feasibility, including one giant Tier 3 deposit (Gaab) and three major Tier 3 and Tier 4 deposits. A major Tier 3 porphyry Cu-Au deposit (Jebel Ohier) is at the advanced stages of exploration. Tanzania Tanzania features 31 gold projects, of which 6 are operating mines including 4 giant (two Tier 1 and one Tier 2) (Geita, Bulianhulu, and North Mara) and 2 major (one Tier 2 and one Tier 3: Buzwagi and New Luika), while the rest are moderate-sized operations and other projects at various stages of exploration to feasibility. Most of the gold mines are orogenic mesothermal, with a minority represented by alluvial operations. Tanzania also hosts a giant Tier 2 hard-rock, operating diamond mine (Mwadui), and two moderate ruby mines. A commodity which has received significant attention in recent times is graphite. Tanzania has four major Tier 3 deposits (Bunyu North, Epanko, Nachu, and Mahenge) and six moderate deposits that have been delineated, one of which (the high-grade [10.8 percent Cg] Lindi) will soon be in operation. Tanzania’s nickel endowment includes one giant Tier 3 intrusion related Ni-Cu-Co-PGM deposit (Mibango); one giant, Tier 2 deposit (Kabanga); two major low-Mg associated deposits; one giant Tier 3 (Dutwa); and a major Ni-Co laterite deposit all at the feasibility stage. A giant Tier 3 (Ngualla) deposit and a major carbonatite rare earths and niobium deposit are at the feasibility stage. Uganda Uganda hosts two moderate gold operations (Bhuweju Plateu and Busia) and a moderate tungsten (Nyamuliro) mine, and has moderate resources of rare earths, iron ore, and nickel at advanced stages of exploration to feasibility. Central Africa As shown in Table 3.6, the Central Africa Region includes nine nations: Burundi, Cameroon, Central African Republic, Chad, Democratic Republic of Congo, Equatorial Guinea, Gabon, Republic of Congo, and São Tomé and Príncipe. The region covers an area of 5.7 million square kilometers, equivalent to 18.9 percent of the continent land surface, is inhabited by 189.1million people, or 12.5 percent of the total African population. Its nominal GDP is $181.2 billion, or 6.2 percent of the total African output. The region contains a total of 162 “significant” mineral deposits as well as world-class petroleum resources. 40 | MINERAL RESOURCES OF AFRICA TABLE 3.6  Number of mineral deposits and their contained metal for the main mineral commodities in Central Africa. Number of Significant Deposits Total Gold Copper Nickel Zinc/Lead Uranium Diamonds Coal Iron Ore Other Central Africa 184 54 45 3 1 9 8 0 26 38 Burundi 6 2 - 3 1 - - - - - Cameroon 25 6 - - - 1 - - 10 7 Central African Republic 4 2 - - - - 1 - - 1 Chad 6 4 - - - - - - - 2 Congo, Rep. 14 - - - - - - - 6 6 Congo, Dem. Rep. 107 32 45 - - 2 7 - 2 19 Equatorial Guinea - - - - - - - - - - Gabon 22 6 - - - - - - 6 5 São Tomé and Príncipe - - - - - - - - - - Total Contained Metal (a) MOz Au Mt Cu Mt Ni Mt Zn 1 Pb Kt U3O8 M Carats Mt Coal Mt Fe Central Africa 100.8 167.3 6.0 13.6 168.3 nd - 8755 Burundi 0.5 0.3 4.0 - - - - - Cameroon 2.0 - 2.0 - 13.1 - - 3008 Central African Republic 4.5 - - - 42.4 - - 224 Chad - - - - - - - - Congo, Rep. - 0.3 - 2.2 - - - 4198 Congo, Dem. Rep. 89.7 166.7 11.4 41.3 - - - 255 Equatorial Guinea - - - - - - - - Gabon 2.3 - - - 71.6 - - 1071 São Tomé and Príncipe - - - - - - - - The geographical locations of all the mineral deposits are displayed in Figure  3.7, using the same symbols used for the West Africa region in Figure 3.4. Burundi Burundi has a giant undeveloped Ni-Cu-Co laterite deposit, the development of which has been held back by environmental considerations, as well as two major but Tier 4 ferruginous Ni laterite deposits. It also has moderate producing alluvial gold resources in the Mabayi District and advanced exploration but moderate-size deposits of rare earths and vanadium. Cameroon There are extensive undeveloped resources of iron ore in Cameroon, including two giant Tier 2 and Tier 3 deposits (Mbalam and Nkout), as well as a major Tier 3 advanced exploration deposit. It also 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 41 FIGURE 3.7  Geographical location of Central Africa’s mineral deposits of various commodity groups broken down by operating mines, closed mines, and undeveloped deposits. 42 | MINERAL RESOURCES OF AFRICA hosts a giant Tier 2 resource of Co-Ni laterite (Nkamouna) which represents the largest primary cobalt deposit in Africa. In addition, it hosts three modest-size operating alluvial gold mines (Betare Oya, Batouri and Colomines) and a major Tier 3 bauxite deposit (Minin Martap), and other moderate undeveloped bauxite and alluvial diamonds deposits. Central African Republic The Central African Republic hosts advanced to feasibility stage major Tier 3 deposits of gold (Passendro), uranium (Bakouma), and iron ore. Chad There are two moderate-sized artisanal mesothermal gold mines (Dorothe and Misky) in Chad, as well as an undeveloped mine, and two placer/alluvial deposits, one of which one is in operation. Democratic Republic of Congo The Democratic Republic of Congo has the largest cobalt resources in the world, and is the most important producer in the world of cobalt as a byproduct of its extensive copper production from sediment-hosted stratiform deposits. It hosts a total of 38 active deposits including 8 giant Tier 1 and Tier 2 deposits (Deziwa, Kakula, Kamoa, Kamoto, Kipushi, Makoko, Mutanda, and Tenke Fungurume) and 18 major deposits mostly ranking Tier 3, of which 12 are operating mines. The country also hosts a number of alluvial diamond deposits, of which one is a giant Tier 2 deposit (Mbuji Mayi) adjacent to a now exhausted kimberlite deposit of the same name, and a significant number of gold deposits. Gold deposits include three giant deposits, of which Moto is a Tier 1 and Kibali and Twangiza Tier 2 ranking. The Democratic Republic of Congo also hosts seven major Tier 3 deposits, of which one (Namoya) is currently in operation and the others at the advanced stages of exploration to feasibility. Two advanced exploration-stage iron-ore deposits have also been reviewed in the last 10 years. Equatorial Guinea There are no significant mineral deposits Equatorial Guinea. Gabon Gabon has a giant Tier 1 (Moanda) and two major Tier 3 (Franceville and Monbeli) operating manganese mines. The country also has a giant Tier 3 (Belinga) and a major undeveloped iron-ore project, which have been known and remained undeveloped since the late 1950s-early 1960s. In addition, there are two active moderate artisanal gold mines and major but sub-economic niobium carbonatite deposit. Uranium mining is no longer taking place in the country. Republic of Congo There are three giant Tier 2 and Tier 3 undeveloped itabiritic iron-ore deposits (Mayoko-Moussondji, Avima and Mbalam Nabera) and three other major deposits in the Republic of Congo. It also has a giant, undeveloped Tier 2 phosphate deposit (Hinda) and two giant Tier 3 undeveloped potash deposits (Mengo and Sintoukola). São Tomé and Príncipe São Tomé and Príncipe has no significant mineral deposits. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 43 Southern Africa As shown in Table 3.7, the Southern Africa Region includes 10 nations: Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, South Africa, Eswatini, Zambia, and Zimbabwe. The region covers an area of 5.9 million square kilometers, equivalent to 19.6 percent of the continent land surface, and is inhabited by 193.4 million people, or 14.4 percent of the total African population. Its nominal GDP is $542.7 billion, or 22.6 percent of the total African output. The region contains a total of 864 “significant” mineral deposits, as well as world-class petroleum resources. The Southern region is the most explored and most endowed part of Africa, featuring TABLE 3.7  Number of mineral deposits and their contained metal for the main mineral commodities in Southern Africa. No. of Significant Deposits Total Gold Copper Nickel Zinc/Lead Uranium Diamonds Coal Iron Ore Other Southern Africa 916 260 77 24 16 31 84 194 36 194 Angola 38 1 - - 1 - 25 - 4 6 Botswana 56 6 13 - - 9 17 - 1 1 Eswatini 10 - - - - - 4 4 4 1 Lesotho - - - - - - - - - - Malawi 12 - - - - - 4 - - 7 Mozambique 40 5 - - 1 - 10 2 2 21 Namibia 68 7 - - 5 17 8 3 3 15 South Africa 503 167 6 5 7 9 32 140 18 119 Zambia 60 1 40 4 2 3 - 2 3 5 Zimbabwe 125 72 4 8 - - 5 16 1 19 Total Contained Metal (a) Moz Au Mt Cu Mt Ni Mt Zn 1 Pb Kt U3O8 M Carats Mt Coal Mt Fe Southern Africa 2772.0 191.4 25.5 67.4 1833.4 nd 120473 6262 Angola 0.3 0.2 - 0.9 - - - 473 Botswana 2.4 15.5 2.0 0.7 165.9 - 33028 130 Eswatini 0.1 - - 0.6 - - 336 179 Lesotho - - - - - - - - Malawi - - - - 35.7 - 1404 - Mozambique 2.5 0.1 - - - - 16940 288 Namibia 7.1 - - 14.5 918.1 - 447 758 South Africa 2650.5 23.1 20.2 37.9 639.1 - 61397 4122 Zambia 171.4 0.1 12.6 74.6 - - 276 281 Zimbabwe 92.8 2.1 2.7 - - - 6645 32 44 | MINERAL RESOURCES OF AFRICA a vast variety of important deposits of critical mineral commodities. These include, among others: chrome, of which the USGS (2020) estimates there are 200 Mt of reserves, or 35.1 percent of the world total, with annual production of 17 Mt or 38.6 percent of the world total; manganese, with 74 percent of estimated world resources (260 Mt or 32.1 percent of world total reserves) and 29 percent (5.5 Mt) of annual world production; platinum, with 63 million kilograms or 91 percent of world reserves, and 130 metric tons or 72 percent of annual world production; and 34 percent of world gem quality diamonds by value equivalent to $30.6 billion. The geographical location of all the mineral deposits are displayed in Figure 3.8 Angola Angola has 20 active diamond projects, of which 9 are operating mines. Of these, three are giant Tier 1 deposits (Catoca, Cuango and Chumbe River) with the first one being a hard-rock operation, and the other two alluvial. All the other six mines are moderate in size, apart from one major Tier 3 alluvial deposit (Luremo). A giant Tier 3 undeveloped rare earths-Nb-Ta carbonatite deposit is located at Ozango, with mainly moderate-size deposits of Cu, Zn and iron ore elsewhere in the country. Botswana Botswana hosts nine diamond deposits, of which five are operating mines, including two giant Tier 1 (Juwaneng Dia and Orapa) and three major Tier 3 deposits (Damtshaa, Karowe and Letlhakane). The rest are mostly moderate-sized advanced exploration projects. Significant nickel sulfide resources associated to mafic/ultramafic intrusions have been delineated in five active deposits, including the giant Tier 3 operations at Selebi-Phikwe. Important coal resources are held in eighteen active sites, including one operating mine at the Mookane major Tier 3 deposit. The rest of the resource includes 10 giant deposits ranking between Tier 2 and Tier 4. There is a major Tier 3 (Mupane) and a moderate operating gold mine, as well as moderate undeveloped resources. Botswana also hosts significant copper resources, with seven active deposits including one major Tier 3 mine under construction (Khoemakau Zone 5). Eswatini At present, Eswatini only has the moderate Maloma coal (anthracite) mine in operation. Lesotho Lesotho has three major Tier 2 to 3 hard-rock diamond mining operations (Letseng, Kao and Liqhobong) and one moderate producer. Malawi Malawi has two major Tier 3 (Mcenga and Mwabvi) and one moderate operating coal mines. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 45 FIGURE 3.8  Geographical location of Southern Africa’s mineral deposits of various commodity groups, broken down by operating mines, closed mines, and undeveloped deposits. 46 | MINERAL RESOURCES OF AFRICA With uranium production in care and maintenance, the focus is now on rutile, graphite (one major and one moderate advanced deposit), rare earths and niobium, which are all at advanced stages of exploration. Mozambique Mozambique has eight active deposits of thermal and coking coal, of which two are operating mines including a giant Tier 1 (Moatize) and a major Tier 3 (Chirodzi). As yet undeveloped deposits include five giant Tier 3 projects (Ncondezi, North Shore, Revuboe, Zambeze and Moatize-Mukanhavusi), all at the feasibility stage. There are two moderate operating gold mines, one of orogenic mesothermal origin and the other alluvial, as well as a major Tier 3 mesothermal deposit (Ancuabe [Triton]) under construction. Recent interest in graphite has resulted in the delineation of eight deposits. These include the giant Tier 1 Balama (Syrah) mine, the largest graphite flake producer in the world, and the equally important but still under development Balama (Triton) deposit, also known as Nicanda Hill, as well as a number of advanced deposits of moderate size. Mozambique ranks among the most important source of mineral sands. The country has a total of eight deposits, three of which of are giant sized (such as the operating Tier 2 Moma mine and the Tier 3 Corridor Sands and Moebase), as well as three additional undeveloped major Tier 3 deposits. One major Tier 2 (Montepuez) primary ruby mine and adjacent moderate alluvial workings have also been in operation for about the last decade. Moderate resources of iron ore and phosphate complete the country’s endowment. Namibia Namibia has three giant Tier 1 diamond placer/alluvial operations (CDM area, Luderitz area, and Offshore Diamonds) and three other moderate-size operations, one of which is offshore. There are two major Tier 3 (Navachab and Otjikoto) and one moderate operating gold mine, as well as four projects, two major (Damara and Damaran) and two moderate, ranging from the advanced exploration to the development stage. The country also features 17 uranium deposits, of which 2 (Rossing and Husab) are giant operating mines, Tier 1 and Tier 2 respectively. The rest are projects at the advanced stages of exploration/feasibility, including five major deposits ranking Tier 3. There is also one major Tier 3 operating zinc mine (Rosh Pinah) and one moderate advanced project. Moderate copper mining is currently taking place at Tschudi, with an additional major porphyry copper deposit (Haib) at the pre-feasibility stage, while manganese is also mined at the moderate Otjosondu mine. A major Tier 3 sediment-hosted Co-Cu-Zn project at Opuwo, a giant offshore phosphate nodules operation (Meob), and a giant Tier 3 iron-ore deposit (Cunene) are at the pre-feasibility stage. One major Tier 4 carbonatite-hosted rare earths deposit (Kalkfield) and two moderate ones have been receiving renewed attention. South Africa With 503 significant mineral deposits, South Africa is by far the most important mining country in Africa. Currently operating mines produce in alphabetic order the following 15 minerals/commodities: 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 47 andalusite, chromium, coal, copper, diamonds, fluorite, gold, iron ore, lead, manganese, mineral sands, nickel, PGE, uranium, and vanadium. There are three operating andalusite mines, all of moderate size. Two giant Tier 1 (Eastern Bushveld: Tweefontein and Winterveld) and a major Tier 3 mine (Buffelsfontein), five major (Buffelfontein, E. Bushveld Helena, W. Bushvweld Boshoek, Maricana and Rustenburg), and two moderate mines account for a large proportion of chromium in the world. In addition, another giant Tier 3 deposit (Klipfontein-Waterval) is at the advanced stages of exploration. South African coal mining is extensive, as shown by the fact that the MinEx database contains information on 140 individual coal deposits including 50 operating mines, active projects at various stages of exploration to development, mines on care and maintenance, and closed mines. Five of the current operations are giant in size and rank at Tier 1, Tier 2, and Tier 3 respectively (Grootgeluk, Matala, Impunulelo, Middelburg and Khutala), 23 are major mostly ranking Tier 3, and the rest are moderate in size. In addition, there are 90 undeveloped deposits at various stages of exploration development, of which 7 are giant with Tiers ranging from 2 to 3 (Chapudi, Leandra North and South, Verloren Valley, Tabametsi, Boikarabelo, and Waterberg North), and many more are major in size. At present, the giant Tier 1 Palabora deposit is the only operating copper mine. Of the 32 diamond deposits, 6 are operating mines (of which 3 are of giant sized and Tier 1 and Tier 2: Cullinan, Venetia and Finsh), with 2 of the remaining majors including the placer/alluvial Alexkor. There is one major Tier 3 fluorite mine at Vergenoek. Of 65 active gold projects, 41 are operating mines, including 26 giant deposits of which 11 rank Tier 1 (Beatrix, Buffelsfontein, Evander, Kopanang, Moab Khotsong, Mponeng, President Steyn, St. Helena, Tshepong, Vaal Reefs, and Western Areas), and 8 rank Tier 2 (Ssishen, Target, Barberton, Braken, Kinross, Kusasalethu, Cooke, and Modder East). The rest are Tier 3 (Doornkop, Vaal River, East Rand, and Burnstone). A total of 6 operating iron-ore mines out of 18 active projects include one Tier 1 deposit (Sishen Iscor) and four major Tier 3 ones. Projects at the advanced stages of exploration/feasibility include one giant Tier 3 deposit (Weremo) and five major ones. A major Tier 3 lead deposit is currently being mined at Black Mountain. There are four giant Tier 1 and Tier 2 (Hotazel, Mamatwan, Tshipi Borwa, and Nchwaneng) and four major operating manganese mines, as well as three major undeveloped deposits at the advanced stages of exploration to feasibility. A giant, Tier 1 mineral sands deposit is in operation at Richard Bay, as well as a major Tier 2 at Namakwa, and two moderate deposits. Only one giant Tier 2 nickel mine (Nkomati) is currently in operation, with a giant Tier 4 deposit (Zebediela) at the pre-feasibility stage. 48 | MINERAL RESOURCES OF AFRICA Out of 41 active PGE deposits, 30 are giant. Of these, 16 are operating mines (Boisendal, Eland, Kroondal, Marula, Modkwa, Pilanesberg, Rustenburg-Impala, Tharisa, Two Rivers, Union Section, Amundelbult, Impala, Marikana, Mogalekwena, Rustemberg-Brits, and Zondereinde) and 14 deposits are at various advanced stages of exploration to feasibility (Kennedys Vale, Ivanplat Platreef, Sedibelo, Akanani, Leewkop, Kalplats, De Wildt, Waterberg, Lesego, Phosiri, Zondernam, Bauba, Ga- Phasha, and Mooiplat). There is one major Tier 3 operating phosphate mine (Foscor), and major advanced projects for rare earths, phosphate, tin and tungsten. Two major operating uranium mines and two advanced projects are associated with the uranium-rich sections of gold-bearing pebble conglomerates, mainly in the Witwatersrand Basin. Vanadium associated with magnetite is mined at the giant Vametco and at the major Rhovan Tier 3 deposits, while the giant Tier SPD Vanadium and major Brits deposits are at the pre-feasibility stage. The giant Tier 3 Gamsberg zinc project is at the feasibility stage, and the feasibility of re-opening the Prieska past producer is being examined. Zambia Mining in Zambia is dominated by copper, with a total of 31 active deposits, of which 19 are operating mines. These include 10 giant deposits, of which 5 are Tier 1 (Chambishi, Konkola [Bancroft], Mufulira, Nchanga, and Nkana) and 5 Tier 2 (Kansanshi, Konkola [Deeps], Lubambe, Lumwana, and Sentinel). The balance is made of two major mines (Baluba and Miliashi) and seven moderate-sized mines. In addition, there are a number of undeveloped projects at various stages of exploration/pre-feasibility. Zambia also hosts a giant Tier 2 emerald mining operation at Kagem and two thermal coal operating mines, one of which is of major size and Tier 3 (Maamba). In addition, the major, sediment-hosted, Enterprise Ni-Co-Cu mine is under construction and the feasibility of re-opening the major, sediment-hosted stratiform zinc mine at Kabwe is under consideration. One major (Kasempa) and two moderate iron-ore deposits, two moderate uranium deposits and a rare earth carbonatite are also under consideration. Zimbabwe Zimbabwe has a giant, Tier 1 operating diamond alluvial mine (Marange) and a major mine under construction at Umkondo, as well as a major Tier 3 hard-rock operation (Murowa). There are 34 active gold projects in the country, of which 20 are operating mines. These include 10 major deposits, of which one (Mazowe) is Tier 2 and the rest are moderate in size. Zimbabwe has three giant Tier 2 and Tier 3 operating PGE mines (Ngezi, Unki, and Mimosa), as well as a major deposit at the feasibility stage. Zimbabwe’s coal mining sector includes one major Tier 3 operating mine (Hwange) and three others of moderate size producing thermal and coking coal, in addition to a number of thermal coal projects 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 49 at the advanced stages of exploration to feasibility. These include three giant deposits of Tier 2, Tier 4 and not ranked respectively (Sengwa, Lusulu and Sessami-Kaonga) and five major deposits, two of which are ranked at Tier 3 and the rest at Tier 4. Hard-rock lithium pegmatites are exploited at the major Bikita mine, and the feasibility of future major mining at Arcadia is being investigated together with other three moderate pegmatite occurrences. In addition, the country hosts moderate-sized mining operations for phosphate in carbonatite and for tungsten. African mineral endowment by commodities An exhaustive listing of all (1888) significant African mineral deposits included in the MinEx database can be found in Appendix B, while their general geographical distribution has already been shown in Figures 1.1 and 3.1. In the discussion that follows, 24 individual mineral commodities have been bunched up into 11 groups, namely: base metals, precious metals, ferroalloy metals, battery metals, specialty metals and rare earths, diamond and gemstones, mineral sands, energy minerals, iron ore, bauxite, and fertilizers. Individual commodity sections provide, among others, estimates of their pre-mining and current Measured, Indicated and Inferred (MI&I), resources as well as of their Proven and Probable (P&P) reserves (Figure 3.2), as extracted from the MinEx database. Table 3.8 provides an estimate in 2023 dollars of the primary and total (that is, including byproduct) mine-site value of still undeveloped mineral deposits, broken up by commodities and their Tier classification. It must be emphasized that valuations are indicative only, as they are based on the sales price of the metal after adjusting for recoveries, transportation, and off-site processing costs. They do not include site operating costs or capital costs. Consequently, they do not represent the NPV or market value of the projects. TABLE 3.8  Mine-site value of undeveloped African mineral resources, broken up by commodity and Tier classification. Mine-Site Value of Undeveloped Resources by Commodity ($ million, 2023) COMMODITY Tier 1 Tier 2 Tier 3 Other Total Primary Total Primary Total Primary Total Primary Total Primary Total BASE METALS Copper 57,513 57,513 84,247 88,967 80,408 97,304 54,160 59,146 276,328 302,930 Zinc - - 6,396 8,364 31,861 42,688 10,233 18,000 48,490 69,052 Lead - - - - - - 825 2,592 825 2,592 Nickel - - 136,181 145,578 71,743 77,836 123,376 125,681 331,299 349,095 (continues) 50 | MINERAL RESOURCES OF AFRICA TABLE 3.8  Mine-site value of undeveloped African mineral resources, broken up by commodity and Tier classification. (Continued) Mine-Site Value of Undeveloped Resources by Commodity ($ million, 2023) COMMODITY Tier 1 Tier 2 Tier 3 Other Total Primary Total Primary Total Primary Total Primary Total Primary Total PRECIOUS METALS Gold Metal Gold - - 40,722 40,722 587,230 597,433 165,510 168,831 793,462 806,986 PGE - - 129,849 165,401 354,224 402,777 50,566 59,685 534,639 627,863 Silver - - - - - - 254 446 254 446 IRON ORE - - 460,727 460,727 1,819,980 1,819,980 482,078 482,078 2,762,785 2,762,785 FERROALLOY METALS Manganese - - - - 44,934 44,934 14,304 14,304 59,238 59,238 Chromium - - - - 71,519 71,519 2,023 2,023 73,542 73,542 Vanadium - - - - 85,823 85,823 6,069 6,069 91,892 91,892 BATTERY METALS Lithium 90,676 90,676 6,326 6,326 10,012 10,012 5,000 5,617 112,014 112,632 Cobalt - - 14,459 48,144 7,181 18,186 511 804 22,152 67,134 Graphite - - 239,883 239,883 71,519 71,519 40,601 40,601 352,003 352,003 MINERAL SANDS Ilmenite/Rutile 71,519 71,519 14,304 14,304 214,557 214,557 30,487 30,487 330,867 330,867 Zircon - - - - 14,304 14,923 2,023 2,023 16,327 16,946 SPECIALITY METALS AND RARE EARTHS Tantalum - - - - 14,304 14,304 16,327 16,327 30,631 30,631 Tin - - - - - - 8,091 8,487 8,091 8,487 Tungsten - - - - - - 2,421 2,618 2,421 2,618 Niobium - - - - 85,823 115,247 77,588 90,615 163,411 205,862 Rare Earths - - 26,452 26,608 78,579 80,088 5,908 6,377 110,939 113,073 DIAMONDS 23,448 23,448 0 0 29,503 29,503 5,862 5,862 58,813 58,813 BAUXITE 0 0 184,077 184,077 200,767 200,767 51,279 51,279 436,123 436,123 ENERGY MINERALS Coal 0 0 2,485,977 2,485,977 15,374,519 15,374,519 3,164,718 3,164,718 21,025,214 21,025,214 Uranium 0 0 33,161 33,161 64,525 64,525 51,328 51,787 149,014 149,473 FERTILIZERS Phosphate 0 0 590,274 590,274 158,307 160,272 152,456 152,456 901,037 903,002 Potash 0 0 407,197 407,197 611,893 611,893 3,795 3,795 1,022,884 1,022,884 SODA ASH (Trona) 0 0 0 0 0 0 14,304 14,304 14,304 14,304 TOTAL FOR AFRICA 243,157 243,157 4,860,232 4,945,710 20,083,516 20,220,610 4,542,095 4,587,009 29,728,999 29,996,486 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 51 Depending on the rate of depletion of various commodities, possible growth in their demand and other geopolitical factors, it could be expected that most (71 percent) of the Tier 1, 56 percent of the Tier 2 deposits, and 30 percent of the Tier 3 may be developed within the next one to two decades. By contrast, the remainder of the Tier 3, Tier 4 and unclassified deposits are likely to remain undeveloped, short of any significant market improvement. Base metals (copper, zinc, lead) Figure 3.9 shows the location of the African base metals excluding nickel—copper, zinc, and lead— as well as of cobalt deposits. Cobalt will be discussed in a later section. The African base metals endowment and the related main operating mines and potential development projects for each individual base metal are considered below in the context of their world significance. FIGURE 3.9  Location of African base metals deposits excluding nickel, as well as of cobalt and coal mineral deposits. Note: The diameter of symbols reflects the size of individual deposits. 52 | MINERAL RESOURCES OF AFRICA Copper General considerations and uses Copper (symbol Cu, atomic number 92 and mass 63.45) is a soft, malleable, and ductile transition metal characterized by very high thermal and electrical conductivity. In terms of use the electrical (65 percent mostly as wires) and construction (25 percent mostly as pipes) industries account for the lion’s share of copper usage, with transport (7 percent) next. Depending on the application copper can be substituted by Al, optical fiber, plastic, and steel. Copper minerals Copper occurs in free metallic form in nature, but more frequently in a vast number (over 100) of minerals. The most common of these are listed in Table 3.9, which also provides their chemical formulae and the percentage of copper they contain. However, only half a dozen of these minerals are of true economic significance. The bulk of copper production is derived from the Cu-Fe sulfide chalcopyrite, which accounts for roughly 50 percent of copper production, and from the Cu- sulfites chalcocite and bornite. Copper is also mined from the secondary deposits of copper carbonates such as malachite and azurite, and from the Cu-Al silicate chrysocolla. As discussed later, genetically different types of copper deposits are characterized by different Cu mineral associations. About 32 percent of copper used is derived from recycling including, in 2023, 16.9 percent old, end of life (EoL) scrap and the remainder new, high-grade, directly remelted scrap from fabrication. Types of copper deposits Copper mineralization occurs in several different geological and genetic settings, including: • Porphyry copper deposits formed from hydrothermal fluids ascending from deeply seated magma chambers precipitating copper minerals, mostly chalcopyrite and bornite, in associated TABLE 3.9  Common copper minerals, their chemical formulae and copper metal content. COPPER MINERAL Formula Copper Percentage Chalcopyrite CuFeS2 34 Chalcocite Cu2S 79.8 Covellite CuS 66.5 Bornite 2Cu2S · CuS · FeS 63.3 Tetrahedrite Cu3SbS3 + x(Fe, Zn)SbS6 32-45 Digenite Cu9S5 78.1 Malachite CuCO3 · Cu(OH)2 57.7 Azurite 2CuCO3 · Cu(OH)2 55.1 Cuprite Cu2O 88.8 Chrysocolla (Cu,Al)H2Si2O5(OH)4 · nH2O 37.9 Tennantite Cu1 2As4Si3 51.6 Dioptase CuSiO3(OH)2 45.3 Enargite Cu3AsS4 48.4 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 53 or earlier vertical porphyritic intrusive rocks as disseminated ore minerals in stockworks of small fractures and veins and breccia within wide envelopes of hydrothermal alteration. Porphyry coppers are important because of their extremely large size that lends itself to economy of scale, even though they are generally low grade (0.2 to 1.0 percent Cu). Their viability is helped by significant molybdenum, gold and silver credits. A high-grade cap enriched in chalcocite is often present when the orebody has been exposed in tropical environments. While abundant in North and South America, porphyry copper are a major source of copper but comparatively rare and of little economic significance in Africa. • Sediment-hosted stratiform copper deposits, such as those of the Zambian and of the Democratic Republic of Congo Copperbelts or of the Kupferschiefer in Germany and Poland, are also extremely large and generally much higher grade. In many cases they carry significant amounts of cobalt and other valuable byproducts. Sediment-hosted copper deposits account for roughly 20 percent of the world copper production after porphyry coppers, and around 50  percent of this type of deposits are in Africa. Metal concentration probably began with erosion of basement terranes rich in copper and cobalt and clastic sedimentation under oxidizing conditions of so-called “red beds”. Metals easily leached from oxidized sediments were subsequently mobilized during diagenesis and/or through hydrothermal processes, and precipitated along oxi-reduction fronts in anoxic near-shore or saline lagoon, where sea water sulfates were reduced to sulfides. In the Copperbelt, the primary sulfide chalcopyrite-bornite- carrollite mineralization grades to mixed oxide-sulfide mineralization containing chalcocite, copper carbonate/sulfate, cuprite and native copper in the zone of oxidation. • Volcanogenic massive sulfides (VMS), also sometimes called volcanic-hosted massive sulfide (VHMS) copper-zinc deposits precipitated from hydrothermal fluids associated with submarine volcanic events on or below the seafloor in a wide range of ancient and modern geological settings. VMS can be high-grade. Ore minerals include chalcopyrite, sphalerite and galena, with minor amounts of silver and a large variety of other elements. VMS are not widely represented in Africa. • Iron oxide copper–gold (IOCG) deposits can be extremely large and are typically hosted in breccia characterized by abundant hydrothermal magnetite and/or hematite, with strong structural controls but no clear spatial associations with specific igneous intrusions. They occur in crustal settings commonly displaying alkali metasomatism, which may explain their enrichment in elements such as uranium, rare earth elements (REE), fluorine, phosphorous, molybdenum, silver, barium, cobalt, nickel, and arsenic. Some of these elements may represent valuable byproducts, as in the case of uranium at the Olympic Dam mine in South Australia which represents the largest individual uranium deposit in the world. Examples of African IOCG deposits are Palabora in South Africa and Guelb Moghrein in Mauritania. • Copper skarn deposits relate to peripheral metasomatism often associated with igneous porphyry copper intrusions. Copper skarns can be very large and of great economic significance as for instance those associated with the Antamina and Ok Tedi porphyry coppers in Peru and Papua New Guinea respectively. Resources, reserves, and production considerations As shown in Table 3.10, there are 1530 significant copper deposits in the world, of which 141 are located in Africa. The MinEx database estimates that current world resources of copper amount to 3,409 Mt 54 | MINERAL RESOURCES OF AFRICA TABLE 3.10  Number of world and African copper deposits, their resources and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (Mt Cu) Resource (Mt Cu) Reserves (Mt Cu) Reserves (Mt Cu) COPPER World Primary 1530 4185.5 3174.0 601.4 na Byproduct na 308.3 235.2 48.3 na Total 1530 4493.8 3409.2 649.7 1000.0 Africa Primary 141 346.9 247.6 58.3 na Byproduct na 23.4 18.4 1.3 na Total 141 370.3 266.0 59.6 na Africa as % of World total: 9.2% 8.2% 7.8% 9.2% Note: MI&I is for measured, indicated and inferred. P&P proven and probable. and reserves of 650 Mt of copper metal. The latter compares to the broader based USGS’ estimate of 1,000 Mt. It must be noted, however, that the USGS’s reserve estimates include 180 Mt (that is to say over 25 percent) under the category of “others”, that must include many small producing African countries besides the Democratic Republic of Congo and Zambia. In terms of production, in 2023, Africa accounted for a conservative estimate of 2.43 Mt of copper, or 15.9 percent of the total world production of 21.6 Mt (Table 3.11) Main African copper deposits Table 3.12 provides a break-up of the genetic nature of the 141 significant African copper deposits, showing how the continent’s resources are dominated by sediment-hosted stratiform deposits in terms of both number of deposits and contained metal. Table 3.13 provides an exhaustive list of all giant and major operating copper mines in Africa broken up by genetic type, while Table 3.14 provides a corresponding list of undeveloped projects. Zinc General characteristics and uses Zinc (symbol Zn, atomic number 30 and mass 65.39) is, if not oxidized, a blue-silvery brittle metal. The main use of zinc (over 50 percent) is in galvanizing iron and steel to protect them from corrosion. In addition, zinc is used in the production of alloys, such as with copper to form brass, or with aluminum producing an alloy that is almost as strong as steel but as easy to mold as plastic. Zinc is also used in other industrial, chemical and pharmaceutical applications. Zinc minerals The main zinc ore minerals include the zinc sulfide sphalerite (ZnS), carbonate smithsonite (ZnCO3), silicate hemimorphite (Zn4Si2O7(OH)2 · H2O), and the oxides zincite (ZnO) and willemite (Zn2SiO4). About 30 percent of zinc is recycled. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 55 TABLE 3.11  Copper 2019 reserves and production in the world and in Africa, 2023. Africa Rest of World COPPER Reserves 2023 (Kt Cu) Production 2023 (Kt Cu) Reserves 2023 (Kt Cu) Production 2023 (Kt Cu) Congo, Dem. Rep. 80,000 2,500 Australia 100,000 810 Zambia 21,000 760 Canada 7,600 480 Others (est.) Chile 190,000 5,000 Morocco na 37 China 41,000 1,700 South Africa na 28 Indonesia 24,000 840 Eritrea na 22 Kazakhstan 20,000 600 Mauritania na 19 Mexico 53,000 750 Zimbabwe na 62 Peru 120,000 2,600 Namibia na 1 Poland 34,000 400 Russian Federation 80,000 910 USA 50,000 1,100 Others 180,000 2,932 Africa total 101,000 3,428 Rest of world total 899,600 18,122 As % of Total na 15.9% WORLD TOTAL 1,000,600 21,550 Source: Modified after USGS’s Mineral Commodity Summaries, 2020. TABLE 3.12  Break-up of the genetic type of 141 significant African copper deposits. Distribution of African Copper Resources Number of Deposits Pre-Mined Resource (Mt Cu) Primary Cu Deposits Sediment-hosted 106 320.7 IOCG 9 13.4 Replacement 2 2.3 Porphyry 4 4.6 VHMS and Hydrothermal 17 4.8 Breccia 1 0.8 Other 2 0.4 TOTAL 141 346.9 56 | MINERAL RESOURCES OF AFRICA TABLE 3.13  Giant and major operating copper mines in Africa broken up by genetic type. COPPER MINE NAME Country Size Tier Pre-Mining Resources Metals Sediment-Hosted Stratiform KAMOTO Cu/Co OPERATION Congo, Dem. Rep. Super-Giant 1 584 Mt @ 0.40% Cu + 0.44% Co Cu, Co, U3O8 TENKE FUNGURUME Congo, Dem. Rep Super-Giant 1 1448 Mt @ 2.32% Cu + 0.25% Co Cu, Co MUTANDA Congo, Dem. Rep Giant 1 352 Mt @ 1.92% Cu + 0.62% Co Cu, Co CHAMBISHI Zambia Giant 1 250 Mt @ 1.99% Cu + 0.08% Co Cu, Co KANSANSHI Zambia Giant 1 1782 Mt @ 0.73% Cu + 0.12g/t Au Cu, Au KONKOLA (BANCROFT) Zambia Giant 1 894 Mt @ 2.17% Cu Cu, Co KONKOLA DEEPS Zambia Giant 1 215 Mt @ 3.8% Cu Cu LUBAMBE Zambia Giant 1 289 Mt @ 3.11% Cu Cu LUMWANA Zambia Giant 1 2588 Mt @ 0.5% Cu + 0.02kg/t U3O8 Cu, Au, Ag, U3O8 MUFULIRA Zambia Giant 1 733 Mt @ 2.22% Cu + 0.09% Co Cu NKANA (ROKANA) DIVISION Zambia Giant 1 547 Mt @ 2.09% Cu + 0.19% Co Cu, Co, U3O8 SENTINEL (COPPER) Zambia Giant 2 1229 Mt @ 0.45% Cu Cu, Co, Ni KIPUSHI MINE Congo, Dem. Rep Giant 2 76 Mt @ 5.67% Cu + 14.93% Zn + 4.5g/t Ag Cu, Zn, Mo, Ag, Pb, Ge NCHANGA Zambia Giant 1 358 Mt @ 4.12% Cu + 0.02% Co Cu, Co BANANA ZONE Botswana Major 3 286 Mt @ 1.43% Cu + 13.9g/t Ag Cu, Ag, Mo, Rh ZONE 5 Botswana Major 3 190 Mt @ 2.04% Cu + 22.8g/t Ag Cu, Ag, Mo, Rh FRONTIER Congo, Dem. Rep Major 2 295 Mt @ 1.2% Cu Cu, Co KAKANDA PROJECT Congo, Dem. Rep Major 2 131 Mt @ 2.11% Cu + 0.25% Co Cu, Co KINSEVERE Congo, Dem. Rep Major 2 94 Mt @ 2.32% Cu + 0.07% Co Cu, Co KIPOI Congo, Dem. Rep Major 3 79.1 Mt @ 1.4% Cu + 0.05% Co Cu, Co, Ag RUASHI-ETOILE Congo, Dem. Rep Major 3 46.8 Mt @ 2.26% Cu + 0.32% Co Cu, Co TENKE Congo, Dem. Rep Major 3 (est. 1.5 Mt Cu) Cu, Co BALUBA Zambia Major 3 54.5 Mt @ 1.7% Cu + 0.09% Co Cu, Co MULIASHI Cu OPERATION Zambia Major 3 92.6 Mt @ 1.4% Cu + 0.02% Co Cu, Co LUISWISHI Congo, Dem. Rep Major 3 24 Mt @ 3.2% Cu + 0.33% Co Cu, Co, U3O8 KAMBOVE Congo, Dem. Rep Major 2 52.8 Mt @ 5.55% Cu + 0.51% Co Cu, Co KINSENDA Congo, Dem. Rep Major 3 28.9 Mt @ 4.7% Cu Cu IOCG PALABORA South Africa Giant 1 1720 Mt @ 0.47% Cu + 0.01kg/t U3O8 Cu, Ni, U3O8, Ag, Au, Pt GUELB MOGHREIN Mauritania Major 3 76.6 Mt @ 1.03% Cu + 0.8g/t Au Cu, Au VHMS BISHA Eritrea Major 2 83.8 Mt @ 1.22% Cu + 4.56% Zn + 0.42g/t Au Cu, Zn, Au, Ag 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 57 TABLE 3.14  Giant and major undeveloped copper deposits in Africa, broken up by genetic type. UNDEVELOPED COPPER PROJECTS Country Size Tier Stage Pre-Mining Resources Metals Sediment-hosted Stratiform MINGOMBA Zambia Giant 1 Advanced exploration 247 Mt @ 3.64% Cu Cu, Co KAKULA Congo, Dem. Rep Giant 1 Development/construction 739 Mt @ 2.67% Cu Cu, Co, Zn KAMOA Congo, Dem. Rep Giant 1 Development/construction 997 Mt @ 2.5% Cu Cu, Co, Zn KISANFU Congo, Dem. Rep Giant 1 Development/construction 198 Mt @ 2.09% Cu + 0.99% Co Cu, Co DEZIWA Congo, Dem. Rep Giant 2 Feasibility study 319 Mt @ 1.44% Cu + 0.12% Co Cu, Co KITOKO Congo, Dem. Rep Major 2 Advanced exploration [est. 1 to 5 Mt] Cu MAKOKO Congo, Dem. Rep Major 2 Advanced exploration 267 Mt @ 1.86% Cu Cu MUSOSHI Congo, Dem. Rep Major 3 Advanced exploration 42 Mt @ 2.55% Cu Cu, Co LUANSHYA (ROAN ANTELOPE) Zambia Major - Advanced exploration 184 Mt @ 2.06% Cu + 0.19% Co Cu, Co DILALA EAST Congo, Dem. Rep Major 2 Development/construction 44.7 Mt @ 2.43% Cu + 0.81% Co Cu, Co TIZERT Morocco Major 3 Development/construction 132 Mt @ 0.89% Cu + 2.0g/t Ag Cu, Ag KALUKUNDI Congo, Dem. Rep Major - Feasibility study 55.6 Mt @ 2.09% Cu + 0.46% Co Cu, Co LUISHA Congo, Dem. Rep Major - Past producer - study 69.8 Mt @ 2.8% Cu + 0.17% Co Cu, Co, Au, U KALUMINES Congo, Dem. Rep Major 2 Pre-feasibility/Scoping 70.1 Mt @ 1.96% Cu Cu, Co KANSUKI Congo, Dem. Rep Major 2 Pre-feasibility/Scoping 217 Mt @ 0.82% Cu + 0.24% Co Cu, Co LUBEMBE Congo, Dem. Rep Major 3 Pre-feasibility/scoping 94.8 Mt @ 2.01% Cu Cu Porphyry HAIB Namibia Major 3 Pre-feasibility/scoping 799 Mt @ 0.3% Cu Cu, Au, Mo JEBEL OHIER Sudan Major 3 Advanced exploration 246 Mt @ 0.44% Cu + 0.08g/t Au Cu, Au GAOUA Burkina Faso Major - Advanced exploration 304 Mt @ 0.32% Cu + 0.35g/t Au Cu, Au IOCG O’OKIEP COPPER CAMP South Africa Major 2 Advanced exploration 130 Mt @ 1.85% Cu Cu, Au VHMS EMBA DERHO Eritrea Major 3 Feasibility study 85.1 Mt @ 0.67% Cu + 1.28% Zn Cu, Zn, Ag Type of zinc deposits Zinc deposits are broadly classified into three groups on the basis of their genesis, including: • Sedimentary exhalative (SEDEX) deposits formed through the discharge of metal-rich hydrothermal fluids on the floor of sedimentary basins, with precipitation of ore mineral in slowly accumulating reducing sediments. SEDEX deposits are very large and account for over 50 percent of zinc and lead resources in the world. Classical examples are the Mount Isa and McArthur River mines in Australia and the Red Dog mine in Alaska. The giant Gamsberg development in South Africa, as well as the Rosh Pinah mine in Namibia and the Bougrine mine in Morocco, are African examples, albeit the last two of significantly smaller scale. 58 | MINERAL RESOURCES OF AFRICA • Mississippi Valley type (MVT) deposits formed by stratigraphically selective replacement of primarily carbonate rocks by ore minerals over extensive areas in some cases. • Volcanogenic massive sulfide (VMS) deposits, as already discussed, have a clear and proximal association with submarine volcanic events. The Guemassa mine in Morocco and Perkoa mine in Burkina Faso are good examples of this type of mine in Africa. Resources, reserves, and production considerations The MinEx database lists a total of 484 primary significant primary zinc deposits in the world, of which 26 are in Africa. The cumulative current resources of 759 Mt of zinc metal in Table 3.15 include an appreciable amount of zinc as byproduct, primarily of lead and copper mining. The African zinc reserves and production are relatively insignificant in a world context and tend to be grouped under the “others” category in the USGS’ Mineral Commodity Summaries. As for most other metals, the JORC compliant reserves in the MinEx database at 132 Mt of zinc are significantly lower than the corresponding broader based USGS’ estimates of 220 Mt. Main African zinc deposits There are currently, as shown in Table  3.16, seven operating zinc mines in Africa, accounting for about 3.4 percent (that is, 0.46 Mt) of world zinc production totaling 13 Mt. This is expected to rise to 5 percent (0.65 Mt) once the Gamsberg zinc mine development in South Africa gets to full production. In addition to the already mentioned giant Gamsberg SEDEX development, only one other major MVT project is being considered for development (Kabwe in Zambia). The remaining twelve (listed in Table 3.17) are of moderate size and equally split between SEDEX and VHMS types. Lead General characteristics and uses Lead (symbol Pb, atomic number 82 and mass 207.2) is a dense, soft and malleable metal with a silverly color when untarnished, otherwise dull gray. TABLE 3.15  Number of zinc deposits in the world and in Africa, and their resources and reserves. Number of Pre-Mined Resource Current MI&I Current P&P USGS 2023 Deposits (Mt Zn) Resource (Mt Zn) Reserves (Mt Zn) Reserves (Mt Zn) ZINC World Primary 566 1241.9 612.9 93.0 na Byproduct (with Pb) 53 39.1 21.1 1.7 na Byproduct (Other) na 319.0 198.0 37.4 na Total 619 1600.1 832.0 132.1 220.0 Africa Primary 26 47.0 29.1 3.4 na Byproduct (with Pb) 5 8.4 6.6 0.4 na Byproduct (Other) na 21.5 12.0 5.2 na Total 31 76.9 47.7 8.9 na Africa as % of world total 5.0% 4.8% 5.7% 6.7% Note: MI&I is for measured, indicated and inferred. P&P proven and probable. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 59 TABLE 3.16  Operating zinc mines in Africa. OPERATING ZINC MINES Country Size Tier Pre-Mining Resources Metals Sediment-hosted Stratiform ROSH PINAH Namibia Major 3 46.2 Mt @ 7.77% Zn + 0% Cu + 2.09% Pb + 26.26g/t Ag Zn, Pb, Cu BOUGRINE Tunisia Moderate - 5.24 Mt @ 12.35% Zn + 2.26% Pb Zn, Pb VHMS GUEMASSA Morocco Major 3 36.6 Mt @ 6.19% Zn + 1.12% Cu + 1.52% Pb + 0.17g/t Au Zn, Pb, Cu HAJJAR Morocco Moderate - [est. 0.3 to 3 Mt Zn] Zn, Pb, Cu PERKOA Burkina Faso Moderate - [est. 0.3 to 3 Mt Zn] Zn, Au, Ag DRAA SFAR Morocco Moderate - [est. 0.3 to 3 Mt Zn] Zn, Pb, Cu TABLE 3.17  Undeveloped zinc deposits in Africa. UNDEVELOPED ZINC PROJECTS Country Size Tier Stage Pre-Mining Resources Metals Sediment-hosted Stratiform GAMSBURG South Africa Giant 3 Feasibility study 214.3 Mt @ 6.67% Zn + 0.44% Pb Zn, Pb, Ag, Cu KABWE MINE Zambia Major 2 Pre-feasibility/scoping 65.1 Mt @ 6.42% Zn + 2.46% Pb Zn, Pb, Ag, Cu, Ge ZHONGYUAN Algeria Moderate - Advanced 8.68 Mt @ 5.9% Zn Zn, Pb YANGA KOUBANZA Congo, Dem. Rep. Moderate - Advanced [est. 0.3 to 3 Mt Zn] Zn, Pb, Cu GERGARUB Namibia Moderate 3 Advanced 10 Mt @ 8% Zn + 2% Pb Zn, Pb, Cu BUSHY PARK South Africa Moderate - Advanced 10.9 Mt @ 3.78% Zn + 0.15% Pb Zn, Pb BERG AUKAS Namibia Moderate - Past producer 5.23 Mt @ 10.83% Zn + 3.01% Pb Zn, Pb, V KIHABE CAMP Botswana Moderate - Pre-feasibility/scoping [est. 0.3 to 3 Mt Zn] Zn, Pb, Ag BOUKDEMA Algeria Moderate - Undeveloped 12 Mt @ 6.5% Zn + 2.07% Pb Zn, Pb, Cu KHERZET YOUCEF Algeria Moderate - Undeveloped 1.6 Mt @ 18% Zn + 3.6% Pb Zn, Pb SETIF Algeria Moderate - Undeveloped [est. 0.3 to 3 Mt Zn] Zn LOETO Angola Moderate - Undeveloped [est. 0.3 to 3 Mt Zn] Zn VHMS PRIESKA South Africa Major 3 Feasibility study 76.2 Mt @ 3.79% Zn + 1.53% Cu Zn, Cu, Pb, Au, + 0.31g/t Au Ag, Pyrite, Bi, Mo OUED AMIZOUR Algeria Major 3 Feasibility study 54 Mt @ 5.3% Zn + 1.3% Pb Zn, Pb, Cu SALT RIVER South Africa Moderate - Undeveloped [est. 0.3 to 3 Mt Zn] Zn, Cu, Au, Pb, Ag ADI NEFAS Eritrea Moderate - Feasibility study [est. 0.3 to 3 Mt Zn] Zn, Au, Cu, Ag 60 | MINERAL RESOURCES OF AFRICA Over 60 percent of lead is used in the manufacture of acid batteries. The balance finds application in construction as lead foil and plumbing, as an addition to glass to screen radiations from TV and computer screens, to protect plastic from ultraviolet rays, and for solder. Lead minerals Lead does not occur in nature in a metallic form, but rather mostly as the sulfide ore mineral galena (PbS). Galena often contains silver inclusions, which may represent a valuable byproduct of lead mining. Galena is frequently found in association with the zinc mineral sphalerite (ZnS) and oxidizes into the lead carbonate cerussite (PbCO3) and sulfate anglesite (PbSO4). About 50 percent of lead is recycled. Type of lead deposits As mentioned, lead occurs in close association with zinc in the SEDEX, MVT and VHMS types of deposits described in the previous section. Resources, reserves, and production considerations As shown in Table 3.18, there are currently 516 significant primary lead deposits in the world, of which 26 are located in Africa. The current total world lead resources are estimated at 307 Mt of lead metal, with JORC compliant reserves of 46 Mt and corresponding more broadly based USGS estimates of 95 Mt. Lead and zinc generally occur together and, on balance, the content of the latter is more valuable, meaning more deposits are classified as primary zinc rather than lead deposits. This is reflected in Table 3.18, showing that only 51.9 Mt of world lead resources are primary, out of the 307 Mt total. Main African lead deposits African lead reserves and production are insignificant by world standards and are therefore incorporated into the “others” USGS category. In 2019, this category accounted for reserves of 95 Mt and production of 4.5 Mt of lead, of which a very modest amount originated from Africa, mostly from TABLE 3.18  Number of lead deposits in the world and in Africa, and their resources, and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (Mt Pb) Resource (Mt Pb) Reserves (Mt Pb) Reserves (Mt Pb) LEAD World Primary 140 238.6 51.9 6.8 na Byproduct (with Zn) 376 313.6 184.7 25.9 na Byproduct (Other) na 112.9 70.4 13.2 na Total 516 665.2 307.0 45.9 95.0 Africa Primary 7 18.2 6.4 1.0 na Byproduct (with Zn) 19 8.3 4.9 0.7 na Byproduct (Other) na 4.6 0.7 0.1 na Total 26 31.1 12.0 1.8 na Africa as % of World total 5.0% 4.7% 3.9% 3.9% Note: MI&I is for measured, indicated and inferred. P&P proven and probable. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 61 the only operating primary lead mine in Africa, the Black Mountain lead mine in South Africa (with pre-mining resources of 136 Mt of ore at 4.14 percent Pb with zinc, copper and silver as byproducts) and the rest as a byproduct from zinc mining in Morocco (about 45,000 metric tons per annum) and subordinately from Namibia and Algeria. Moderate undeveloped VHMS lead resources occur at Oued al Kebir in Algeria (11.5 Mt at 2.6 percent Pb, with Zn, Ag, Cu and Au credits) and in the SEDEX deposit of Tsongoari in Namibia (5.8 Mt Pb with Zn, Ag and Cu credits). The recent opening of the Gamsberg zinc mine in South Africa will increase the tonnages of lead as a byproduct. Precious metals (gold, platinum-group elements, silver) Figure 3.10 shows the location of the African gold-silver and platinum-group elements (PGE) deposits, as well as those of rare earth elements (REE), tin-tantalum, tungsten and bauxite resources, which will be discussed later in this chapter. The diameter of symbols reflects the size of individual deposits. FIGURE 3.10  Location of gold-silver, PGE, rare earths, tin-tantalum, and bauxite deposits in Africa. 62 | MINERAL RESOURCES OF AFRICA Gold General characteristics and uses Gold (symbol Au, atomic number 79 and mass 197.0) is a reddish yellow, dense, soft, malleable, and ductile transition metal. Over 50 percent of gold is used in jewelry, particularly in India and China. Gold is often alloyed with silver or copper to decrease its malleability and softness and change its color. Coinage and ingots for investment purposes are the next largest use, as a hedge against inflation and other security risks. Gold has essential applications in electronics; for instance, some components of mobile phones and computers also make significant use of gold. Other common uses are in dentistry, medicine and cosmetics. Extremely thin gold foil has several applications, including coating of ceremonial buildings. Gold minerals Gold is largely chemically unreactive and occurs in nature in its pure metallic form or in solid solution with silver in an amalgam called electrum. In addition, gold is frequently found in tellurides including calaverite (AuTe2) and the more silver-rich sylvanite and krennerite. Most of the gold mined is from ores that contain it in the metallic form. Gold deposit types Gold deposits can form in a variety of geological environments which can be broadly subdivided into primary (lode) or detrital in origin. An exhaustive classification of gold deposits into 16 types is provided by Robert et al. (1997). Broadly, gold deposits can be classified as: • Mesothermal Orogenic deposits. Gold is associated with pyrite and sometime arsenopyrite and/or tellurides in quartz-carbonate veins, invading brittle-ductile shear zones in greenstone belts, spatially associated with major fault zones. Typical example are the Golden Mile deposits of Western Australia. • Epithermal gold deposits associated with disseminated sulfide in vuggy silica zones, veins, breccias, and stockworks include: (i) Hot spring; (ii) Adularia-sericite; and (iii) Alunite-kaolinite epithermal vein deposits associated with subaerial mafic to intermediate to felsic volcanic centers and associated subvolcanic intrusions in volcano-plutonic belts. • Intrusion-related gold deposits include: (i) Porphyry gold in quartz-pyrite stockwork zones hosted or peripheral to calc-alkalic to alkalic, subaerial intermediate volcanic centers and associated subvolcanic intrusions in volcano-plutonic belts; (ii) Batholith-associated quartz vein in faulted metamorphic basement rocks intruded by granitoid batholiths; (iii) Au-Cu sulfide-rich quartz vein in high-level intrusions and associated dykes in volcano-plutonic arcs and greenstone belts; and (iv) Breccia pipes in subvolcanic intrusions in mafic to felsic volcanic centers. • Skarns that generally occur as disseminated to massive sulfide lenses and cutting skarn veins in carbonate platform sequences overprinted by volcano-plutonic arcs. Examples include: Fortitude (Nevada, USA), Red Dome (Australia), Suan (Democratic People’s Republic of Korea); Hedley and Tillicum (British Columbia, Canada), Marn (Yukon, Canada), and Akasaba (Quebec, Canada). 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 63 • Gold-rich massive sulfide stratiform lenses and adjacent stockwork associated with submarine volcaniclastic sequences. • Sediment hosted gold deposits including: (i) carbonate replacement (manto) in platform sequences overprinted by volcano-plutonic arcs; (ii) Sediment-hosted micron gold (Carlin type) as stratabound disseminations and mineralized breccias in impure continental shelves carbonates and argillites associated with volcano-plutonic arcs; (iii) non-carbonate stockwork disseminations in siliciclastic, turbiditic and volcaniclastic sediments; and (iv) iron-formation hosted vein and disseminations (Homestake type). • Paleoplacers: Pyrite-bearing, auriferous and uraniferous, quartz-pebble conglomerate and quartz arenite deposited in mature fluviatile to deltaic facies rocks in extensive cratonic sedimentary basins. In some cases, the original sedimentary genesis was modified by later hydrothermal processes. Typical examples are the Witwatersrand deposits of South Africa and the Tarkwa deposit of Ghana. • Alluvial gold particles, ranging in size from dust to coarse nuggets, liberated by erosion are transported in fluvial systems and are deposited, together with other heavy minerals, in clastic sediments in depressions and bars where river current slacks. Resources, reserves, and production considerations Of 4,666 primary gold deposits in the world, 741 are located in Africa. The historical predominance of Africa as a source of gold has abated somewhat with progressive depletion, as well as the discovery of vast amounts of gold in recent years elsewhere in the world. Africa now accounts for 17.6 percent of current world resources and reserves (Table 3.19). In terms of production, as shown in Table  3.20, in 2023 Africa accounted for 27.9  percent of total world production. South Africa, Ghana, Mali, Burkina Faso and Sudan accounted for the lion’s share (58 percent) of African and 16.3 percent of current world production, with the rest of production, both primary and byproduct, attributable to 31 other African nations as listed in Table 3.20. TABLE 3.19  Number of gold deposits in the world and Africa, and their resources and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (MOz Au) Resource (MOz Au) Reserves (MOz Au) Reserves (MOz Au) GOLD World Primary 4666 11581.9 5592.1 1341.4 na Byproduct na 2361.7 1826.2 314.4 na Total 4666 13943.6 7418.2 1655.8 1,896.9 Africa Primary 741 3623.0 1206.8 274.5 na Byproduct na 110.4 95.4 6.5 na Total 741 3733.4 1302.1 281.0 232.1* Africa as % of World Total 15.9% 26.8% 17.6% 17.0% 12.2% *Made up of South Africa (160.8 MOz), Ghana (32.2 MOz), Mali (25.7 MOz), and Tanzania (13.5 MOz). Note: MI&I is for measured, indicated and inferred. P&P proven and probable. 64 | MINERAL RESOURCES OF AFRICA TABLE 3.20  Current (2023) African gold reserves and production in the world context. Africa Rest of World GOLD Reserves 2023 (t Au) Production 2023 (t Au) Reserves 2023 (t Au) Production 2023 (t Au) South Africa 5,000.0 104.3 Australia 12,000.0 310.0 Ghana 1,000.0 135.0 Brazil 2,400.0 60.0 Burkina Faso na 98.6 Canada 2,300.0 200.0 Mali 800.0 105.0 China 3,000.0 370.0 Tanzania 420.0 52.0 Indonesia 2,600.0 110.0 Others Kazakhstan 1,000.0 130.0 Congo, Dem. Rep. na 45.4 Mexico 1,400.0 120.0 Sudan na 72.5 Peru 2,300.0 90.0 Zimbabwe na 46.6 Russia 11,100.0 310.0 Côte d’Ivoire na 51.5 USA 3,000.0 170.0 Guinea na 64.9 Uzbekistan 1,800.0 100.0 Mauritania na 21.8 Others 9,200.0 311.0 Senegal na 17.1 Liberia na 19.9 Madagascar na 15.9 Niger na 33.4 Africa Total 7,220.0 883.9 Rest of world total 52,100.0 2,281.0 As % of Total na 27.9% 87.8% 72.1% WORLD TOTAL 59,320.0 3,164.9 Source: Modified from USGS Mineral Commodities Summary, 2024; World Gold Council, 2024. Although artisanal and small-scale miners (ASM) have been active in Africa for a long time, their production has increased significantly with the recent boom in demand for and price of gold, and this now accounts for about 20 percent of total gold production (World Bank Group, 2020). Main African gold deposits Of 741 African gold deposits recorded in the MinEX database, 228 are operating mines, of which 56 are giant and 62 major deposits. The remaining 512 are projects ranging from the advanced exploration through feasibility (34) to the development/construction stage (18). The balance of the deposits are closed mines or mines on care and maintenance. Table 3.21 lists all the currently operating African mines of giant or major size of the most commonly encountered orogenic mesothermal type, and deposits of other origins including VHMS, intrusion related, porphyry and disseminated sediment-hosted deposits. Table  3.22 lists the important palaeoplacers (quartz-pebble conglomerate) and placer-alluvial mines. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 65 TABLE 3.21  Main orogenic mesothermal operating gold mines in Africa. OPERATING GOLD MINES Country Size Tier Pre-Mining Resource Orogenic Mesothermal and intrusion-related systems SUKARI Egypt Giant 2 468 Mt @ 1.16g/t Au ESSAKANE Burkina Faso Giant 2 261 Mt @ 1.2g/t Au HOUNDE Burkina Faso Giant 2 113 Mt @ 1.75g/t Au MOTO Congo, Dem. Rep. Giant 1 199 Mt @ 3.30g/t Au ITY Côte d’Ivoire Giant 2 147 Mt @ 1.74g/t Au AHAFO Ghana Giant 2 280 Mt @ 4.67g/t Au AKYEM Ghana Giant 2 123 Mt @ 1.91g/t Au BOGOSO-PRESTEA Ghana Giant 2 120 Mt @ 1.48g/t Au DAMANG Ghana Giant 2 180 Mt @ 1.8g/t Au IDUAPRIEM Ghana Giant 2 241 Mt @ 1.47g/t Au WASSA Ghana Giant 2 150 Mt @ 2.77g/t Au DINGUIRAYE (LEFA) Guinea Giant 2 186 Mt @ 1.25g/t Au SIGUIRI Guinea Giant 2 615 Mt @ 1.12g/t Au FEKOLA Mali Giant 2 46.4 Mt @ 4.08g/t Au GOUNKOTO Mali Giant 2 89.2 Mt @ 4.66g/t Au LOULO PROJECT Mali Giant 2 73.6 Mt @ 2.75g/t Au MORILA Mali Giant 2 215 Mt @ 2.63g/t Au SADIOLA Mali Giant 2 215 Mt @ 2.63g/t Au TASIAT Mauritania Giant 2 215 Mt @ 2.63g/t Au BARBERTON South Africa Giant 2 70.6 Mt @ 7.53g/t Au BULYANHULU Tanzania Giant 2 82.3 Mt @ 6.99g/t Au + 0.44% Cu + 7.23g/t Ag GEITA Tanzania Giant 2 256 Mt @ 2.78g/t Au NORTH MARA Tanzania Giant 2 159 Mt @ 2.52g/t Au KIBALI Congo, Dem. Rep. Giant 2 270 Mt @ 3.33g/t Au BIBIANI Ghana Giant 2 86.7 Mt @ 3.07g/t Au MUPANE Botswana Major 3 36.9 Mt @ 1.39g/t Au BISSA-ZANDKOM Burkina Faso Major 3 74.8 Mt @ 1.58g/t Au BOMBORE Burkina Faso Major 3 214 Mt @ 0.79g/t Au BOUNGOU Burkina Faso Major 3 15 Mt @ 4.18g/t Au INATA Burkina Faso Major 3 95.9 Mt @ 1.73g/t Au KARMA Burkina Faso Major 3 83 Mt @ 1.19g/t Au MANA Burkina Faso Major 3 72 Mt @ 2.4g/t Au SANBRADO Burkina Faso Major 3 103 Mt @ 1.84g/t Au TAPARKO Burkina Faso Major 3 29.3 Mt @ 2.35g/t Au (continues) 66 | MINERAL RESOURCES OF AFRICA TABLE 3.21  Main orogenic mesothermal operating gold mines in Africa. (Continued) OPERATING GOLD MINES Country Size Tier Pre-Mining Resource YARAMOKO Burkina Faso Major 3 4.52 Mt @ 8.17g/t Au YOUGA Burkina Faso Major 3 42.4 Mt @ 1.88g/t Au NAMOYA Congo, Dem. Rep. Major 3 33.6 Mt @ 2.02g/t Au TWANGIZA Congo, Dem. Rep. Major 3 114 Mt @ 1.5g/t Au AGBAOU Côte d’Ivoire Major 3 39.8 Mt @ 1.83g/t Au BONIKRO Côte d’Ivoire Major 3 85.9 Mt @ 1.42g/t Au TONGON Côte d’Ivoire Major 2 68 Mt @ 2.27g/t Au YAOURE Côte d’Ivoire Major 2 75.3 Mt @ 1.73g/t Au LEGA DEMBI Ethiopia Major 3 29.3 Mt @ 4.76g/t Au CHIRANO Ghana Major 2 115 Mt @ 1.93g/t Au EDINKAN Ghana Major 3 152 Mt @ 1.08g/t Au NZEMA Ghana Major 3 49.8 Mt @ 1.48g/t Au OTJIKOTO Namibia Major 3 74.9 Mt @ 1.2g/t Au MAKO Senegal Major 3 36.1 Mt @ 1.73g/t Au MASATO Senegal Major 3 69.5 Mt @ 1.12g/t Au SABODALA Senegal Major 3 77.2 Mt @ 1.4g/t Au KALGOLD South Africa Major 3 114 Mt @ 1.02g/t Au BUZWAGI Tanzania Major 2 53.6 Mt @ 1.47g/t Au + 0.11% Cu NEW LUIKA Tanzania Major 3 19.6 Mt @ 2.99g/t Au BLANKET Zimbabwe Major 3 45.9 Mt @ 3.46g/t Au DALNY Zimbabwe Major 3 13.5 Mt @ 7.41g/t Au EUREKA Zimbabwe Major 3 22.4 Mt @ 1.9g/t Au FREDA-REBECCA Zimbabwe Major 3 41.8 Mt @ 2.6g/t Au HOW Zimbabwe Major 3 [est. 1 to 6 million ounces of Gold] PICKSTONE-PEERLESS Zimbabwe Major 3 72.4 Mt @ 1.57g/t Au SABI Zimbabwe Major 3 6.78 Mt @ 5.49g/t Au TURK Zimbabwe Major 3 13.9 Mt @ 4.29g/t Au INDARAMA Zimbabwe Major 3 13.5 Mt @ 3.3g/t Au REDWING Zimbabwe Major 3 33.8 Mt @ 2.27g/t Au RENCO Zimbabwe Major 3 12.2 Mt @ 6.79g/t Au + 1.1% Cu BOULY Burkina Faso Major 3 272 Mt @ 0.56g/t Au CONSOLIDATED South Africa Major 3 50.5 Mt @ 1.53g/t Au VHMS HASSAI (CAMP) Sudan Giant 2 156 Mt @ 1.81g/t Au + 0.87% Cu + 0.14% Zn Sediment-hosted disseminated gold NAVACHAB Namibia Major 3 132 Mt @ 1.29g/t Au 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 67 TABLE 3.22  Main quartz pebble, placer/alluvial, and other types of operating gold mines in Africa. OPERATING DETRITAL GOLD MINES Country Size Tier Pre-Mining Resource Quartz-Pebble Conglomerate DRIEFONTEIN CONSOLIDATED South Africa Super-Giant 1 310 Mt @ 12.68g/t Au FREE STATE South Africa Super-Giant 1 309 Mt @ 8.4g/t Au FREEGOLD South Africa Super-Giant 1 392 Mt @ 8.4g/t Au + 0.12kg/t U3O8 HARMONY MINE South Africa Super-Giant 1 413 Mt @ 5.35g/t Au KLOOF CONSOLIDATED South Africa Super-Giant 1 410 Mt @ 7.82g/t Au RANDFONTEIN South Africa Super-Giant 1 1274 Mt @ 2.49g/t Au SOUTH DEEP South Africa Super-Giant 1 420 Mt @ 5.52g/t Au TARKWA Ghana Giant 1 650 Mt @ 1.32g/t Au BEATRIX South Africa Giant 1 155 Mt @ 4.78g/t Au + 0.08kg/t U3O8 BUFFELSFONTEIN GOLD South Africa Giant 1 148 Mt @ 8.13g/t Au DOORNKOP South Africa Giant 3 64.8 Mt @ 4.29g/t Au EVANDER South Africa Giant 1 400 Mt @ 3.51g/t Au KOPANANG South Africa Giant 1 69.4 Mt @ 8.66g/t Au MOAB KHOTSONG South Africa Giant 1 115 Mt @ 3.88g/t Au + 0.21kg/t U3O8 MPONENG South Africa Giant 1 118 Mt @ 10.98g/t Au PRESIDENT STEYN MINE South Africa Giant 1 154 Mt @ 8.82g/t Au ST. HELENA MINES South Africa Giant 1 86.5 Mt @ 9.88g/t Au TARGET South Africa Giant 2 41.1 Mt @ 6.39g/t Au TSHEPONG South Africa Giant 1 68.5 Mt @ 8.29g/t Au VAAL REEFS South Africa Giant 1 163 Mt @ 8.53g/t Au VAAL RIVER SURACE South Africa Giant 3 813 Mt @ 0.24g/t Au + 0.06kg/t U3O8 WESTERN AREAS South Africa Giant 1 111 Mt @ 6.1g/t Au BRACKEN MINES South Africa Giant 2 26.9 Mt @ 8.81g/t Au EAST RAND South Africa Giant 3 49.8 Mt @ 4.09g/t Au KINROSS MINE South Africa Giant 2 49.1 Mt @ 7.08g/t Au KUSASALETHU South Africa Giant 2 90.9 Mt @ 7.15g/t Au BURNSTONE South Africa Giant 3 56.2 Mt @ 4.9g/t Au COOKE South Africa Giant 2 597 Mt @ 1.36g/t Au + 0.04kg/t U3O8 MODDER EAST South Africa Giant 2 127 Mt @ 3.55g/t Au BAMBANANI South Africa Major 3 7.33 Mt @ 8.34g/t Au DU PREEZ LEGER South Africa Major 3 26.2 Mt @ 5.11g/t Au ELSBURG South Africa Major 3 4.65 Mt @ 10g/t Au JOEL South Africa Major 3 27.3 Mt @ 5.99g/t Au UNISEL South Africa Major 3 27.3 Mt @ 5.55g/t Au (continues) 68 | MINERAL RESOURCES OF AFRICA TABLE 3.22  Main quartz pebble, placer/alluvial, and other types of operating gold mines in Africa. (Continued) OPERATING DETRITAL GOLD MINES Country Size Tier Pre-Mining Resource WITWATERSRAND BASIN South Africa Major 3 30.3 Mt @ 4.46g/t Au LESLIE GOLD MINE South Africa Major 3 25.9 Mt @ 3.5g/t Au LEEDUOORN South Africa Major 3 [est. 1 to 6 million ounces of Gold] Placer Alluvials BLOCK 14 ARTISANAL Sudan Major 3 [est. 1 to 6 million ounces of Gold] BLOCK 15 ARTISANAL Sudan Major 2 [est. 1 to 6 million ounces of Gold] GERBEIT (ALLUVIALS) Sudan Major 3 [est. 1 to 6 million ounces of Gold] SUARAD (ALLUVIALS) Sudan Major 3 [est. 1 to 6 million ounces of Gold] JABIR Sudan Major 3 1.299 MOz Au Table  3.23 provides a listing of the giant- and major-sized orogenic mesothermal gold deposits at various stages of advanced exploration to feasibility/development, with other types of as yet undeveloped deposits listed in Table 3.24. Platinum-group elements General characteristics and uses The platinum-group elements (PGEs) which include platinum (symbol Pt, atomic number 78, and mass 195.1), palladium (symbol Pd, atomic number 46, and mass 106.4), rhodium (symbol Rd, atomic number 45, and mass 102.9), ruthenium (symbol Ru, atomic number 44, and mass 101.1), iridium (symbol Ir, atomic number 77, and mass 192.2), and osmium (symbol Os, atomic number 76, and mass 190,2), are often associated in nature and display similar physical and chemical properties. Their catalytic behavior has made them a critical input to the automotive industry in the manufacturing of catalytic converters for internal combustion engines to meet ever higher emission standards, and also as catalysts in the chemical and petrochemical industries. PGEs also find application in the electronics industry as components of hard disk drives and liquid-crystal displays, and in fiberglass manufacturing. Because of their silvery luster, resistance to oxidation, and hardness PGEs, are also used in jewelry. PGE minerals PGEs occur in nature mostly in their metallic form as alloys of platinum and iron, platinum and palladium alloys, or as the platinum sulfide cooperite, where platinum may be substituted by palladium and/or nickel with a general formula (Pt, Pd, Ni)S, Pt-Pd sulfides, the Pt-arsenide sperrylite (PtAs2) and/or Pt-Pd telluride moncheite ((Pt, Pd)(Te, Bi)2). At times, platinum alloys or platinum sulfides and tellurides may occur as the principal ore minerals at different levels of the same hosting parental intrusive. About 25 percent of PGEs are supplied through recycling. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 69 TABLE 3.23  Major undeveloped African gold deposits of the orogenic mesothermal type. UNDEVELOPED OROGENIC GOLD DEPOSIT Country Size Tier Stage Pre-Mining Resource Orogenic WADI GAGBAGA Sudan Giant 2 Feasibility study 171 Mt @ 1.25g/t Au KIAKA Burkina Faso Giant 3 Feasibility study 285 Mt @ 0.86g/t Au BANTOU Burkina Faso Major 3 Advanced exploration 51.1 Mt @ 1.37g/t Au KONGOLOKORO Burkina Faso Major 3 Advanced exploration 34.3 Mt @ 1.7g/t Au SANUTURA Burkina Faso Major 3 Advanced exploration 5.4 Mt @ 2.1g/t Au TOEGA Burkina Faso Major 3 Advanced exploration 17.5 Mt @ 2g/t Au MAKAPELA Congo, Dem. Rep. Major 3 Advanced exploration 5.43 Mt @ 2.67g/t Au SOMITURI Congo, Dem. Rep. Major 3 Advanced exploration 20.8 Mt @ 2.51g/t Au ZANI-KODO Congo, Dem. Rep. Major 3 Advanced exploration 23.3 Mt @ 2.68g/t Au ABC Côte d’Ivoire Major 3 Advanced exploration 35.7 Mt @ 0.96g/t Au ASSAFOU Côte d’Ivoire Major 3 Advanced exploration 73.8 Mt @ 1.97g/t Au TANDE-IGUELA Côte d’Ivoire Major 2 Advanced exploration 47.8 Mt @ 1.96g/t Au BLACKROCK Ethiopia Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] ADIEMBRA Ghana Major 3 Advanced exploration 21 Mt @ 2.63g/t Au APENSU DEEPS Ghana Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] APENSU NORTH Ghana Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] JAPA Ghana Major 3 Advanced exploration 23.8 Mt @ 2.63g/t Au GUILENGBE Guinea Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] KOUNKOUN Guinea Major 3 Advanced exploration 12 Mt @ 2.6g/t Au SARAYA Guinea Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] KOFI Mali Major 3 Advanced exploration 18.6 Mt @ 1.97g/t Au KOUROUFING Mali Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] NEFOLO Mali Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] SIRIBAYA Mali Major 3 Advanced exploration 41.2 Mt @ 1.45g/t Au VICTORIA Tanzania Major 3 Advanced exploration 32.7 Mt @ 1.22g/t Au DOKWE Zimbabwe Major 3 Advanced exploration 36.8 Mt @ 1.09g/t Au DURBAN (NEW) Zimbabwe Major 3 Advanced exploration 21.5 Mt @ 3.14g/t Au KOURI Burkina Faso Major 3 Advanced exploration 50 Mt @ 2.24g/t Au JILAVE Ethiopia Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] KOMA BANGOU Niger Major 3 Advanced exploration 22.3 Mt @ 1.95g/t Au BIZIBA-BUSOLWA Tanzania Major 3 Advanced exploration 49.6 Mt @ 1g/t Au AFEMA Côte d’Ivoire Major 3 Development/construction 53.8 Mt @ 1.43g/t Au WANGION Burkina Faso Major 3 Development/construction 53.5 Mt @ 2.49g/t Au (continues) 70 | MINERAL RESOURCES OF AFRICA TABLE 3.23  Major undeveloped African gold deposits of the orogenic mesothermal type. (Continued) UNDEVELOPED OROGENIC GOLD DEPOSIT Country Size Tier Stage Pre-Mining Resource ABUJAR Côte d’Ivoire Major 3 Development/construction 124 Mt @ 0.96g/t Au FETEKRO (ENDEAVOUR) Côte d’Ivoire Major 3 Development/construction 47.8 Mt @ 2.04g/t Au SEGUELA Côte d’Ivoire Major 3 Development/construction 20.3 Mt @ 2.86g/t Au TULU KAPI Ethiopia Major 3 Development/construction 20.2 Mt @ 2.65g/t Au + 1.62g/t Ag AHAFO NORTH Ghana Major 3 Development/construction 7.74 Mt @ 2.17g/t Au ESAASE Ghana Major 3 Development/construction 128 Mt @ 1.43g/t Au MANICA (HARD ROCK) Mozambique Major 3 Development/construction 22 Mt @ 1.94g/t Au MAKABINGUI Senegal Major 3 Development/construction 11.9 Mt @ 2.63g/t Au THETA South Africa Major 3 Development/construction 13 Mt @ 3.12g/t Au BUCKREEF Tanzania Major 3 Development/construction 58.2 Mt @ 1.56g/t Au PASSENDRO Central African Republic Major 3 Feasibility study 116 Mt @ 1.11g/t Au KURMUK Ethiopia Major 3 Feasibility study 63.9 Mt @ 1.67g/t Au KALANA (NEW) Mali Major 3 Feasibility study 36 Mt @ 2.65g/t Au NYANZAGA Tanzania Major 2 Feasibility study 30 Mt @ 2.47g/t Au GIRO Congo, Dem. Rep. Major 3 Feasibility study 149 Mt @ 0.98g/t Au KONE Côte d’Ivoire Major 3 Feasibility study 265 Mt @ 0.62g/t Au WA LAWRA Ghana Major 3 Feasibility study 29.5 Mt @ 1.56g/t Au DUGBE 1 Liberia Major 3 Feasibility study 95 Mt @ 1.38g/t Au KOBADA Mali Major 3 Feasibility study 87 Mt @ 0.86g/t Au TASIAT EXTENSION Mauritania Major 3 Feasibility study 173 Mt @ 1.24g/t Au BOTO Senegal Major 3 Feasibility study 48.8 Mt @ 1.59g/t Au GOLOUMA Senegal Major 3 Feasibility study 14.5 Mt @ 2.57g/t Au MASSAWA Senegal Major 2 Feasibility study 29.3 Mt @ 3.83g/t Au MONGBWALU Congo, Dem. Rep. Major 3 Feasibility study 15 Mt @ 6.64g/t Au KINIERO Guinea Major 3 Feasibility study 93.7 Mt @ 1.19g/t Au MIGORI Kenya Major 3 Feasibility study 30.6 Mt @ 1.28g/t Au + 1.41g/t Ag KING LEOPOLD MINE Congo, Dem. Rep. Major 3 Historic workings 1.53 Mt @ 30g/t Au PILGRIMS REST GOLDFIELD South Africa Major 3 Historic workings [est. 1 to 6 million ounces of Gold] 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 71 TABLE 3.24  Major undeveloped African gold deposits of the placer/alluvial and other types. DEPOSIT Country Size Tier Stage Pre-Mining Resource Placer POTCHEFSTROOM South Africa Super-Giant 3 Advanced exploration 334 Mt @ 7.1g/t Au + 0.22kg/t U308 ORIBI South Africa Giant 3 Advanced exploration 67.6 Mt @ 5g/t Au SALLIES South Africa Giant 3 Advanced exploration 38.6 Mt @ 8.66g/t Au ARGONAUT DEEPS South Africa Giant 4 Advanced exploration 32.5 Mt @ 8.5g/t Au EVANDER 6 South Africa Giant 3 Feasibility study 29.4 Mt @ 8.04g/t Au JEANETTE South Africa Giant 3 Feasibility study 46.5 Mt @ 10.2g/t Au LANGAAGTE South Africa Giant 1 Historic workings 45.2 Mt @ 9.08g/t Au MANGALISA South Africa Major 4 Advanced exploration [est. 1 to 6 million ounces of Gold] ROBIJN South Africa Major 3 Advanced exploration 20.7 Mt @ 4.5g/t Au SAND RIVER South Africa Major 3 Advanced exploration 102 Mt @ 5.38g/t Au + 0.07kg/t U308 BLOEMHOEK/WELGELEGEN South Africa Major 3 Feasibility study 28.3 Mt @ 4.72g/t Au DIANGOUNTE Mali Major 3 Feasibility study 18.4 Mt @ 1.84g/t Au KENIEBA DISTRICT (ANCIENT) Mali Major 3 Historic workings [est. 1 to 6 million ounces of Gold] Porphiry/intrusion ANAGULU Eritrea Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] KOULEKOUN Guinea Major 3 Feasibility study 29.1 Mt @ 1.5g/t Au CHARGER Côte d’Ivoire Major 3 Advanced exploration [est. 1 to 6 million ounces of Gold] BALANDOUGOUBA Guinea Major 4 Advanced exploration 39.8 Mt @ 0.94g/t Au Sediment-hosted and laterite DAMARA Namibia Major 3 Development/construction 91.3 Mt @ 1.09g/t Au DAMARAN Namibia Major 3 Advanced exploration 66 Mt @ 1g/t Au SIGUIRI PROJECT (Bullman) Guinea Major 3 Advanced exploration 126 Mt @ 0.58g/t Au Types of PGE deposits Most of the global PGE resources, whether as the primary ore constituents or byproducts, are hosted in either: • large mafic-ultramafic intrusions often characterized by an early magnesium and silica -rich magma and a later alumina-rich, tholeiitic magma, mostly of Late Archean to Paleoproterozoic age, such as the Bushveld Complex in South Africa, the Noril’sk–Talnakh field in Russia, the Great Dyke in Zimbabwe, the Stillwater Complex in the United States, and the Sudbury Complex in Ontario, Canada; or • associated, mainly as byproducts, with nickel and copper-rich high magnesium ultramafic intrusions and lava flows, as for instance peridotites and komatiite lava flows in Western Australia. 72 | MINERAL RESOURCES OF AFRICA Since PGEs in their metallic form are hard, heavy and do not oxidate, when liberated through erosion they often concentrate in less economically important alluvial deposits. Resources, reserves, and production considerations As shown in Table 3.25, there are 94 PGE deposits in the world, of which the majority (55) are located in Africa. With current resources of 2,128 million ounces or 73.2 percent of total world resources, Africa dominates the industry. The distinction in Table 3.25 between “Primary PGE” and “Primary Pt” reflects a predominance of platinum in the latter deposits, as captured in the MinEx database. In 2023, as shown in Table 3.26, the South African Bushveld mines dominated platinum production with 3.9 million ounces. But Russia topped palladium production with 3.0 million ounces, mainly as a byproduct from their Noril’sk–Talnakh copper-nickel operations. TABLE 3.25  Number of PGE deposits in the world and in Africa, and their resources and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (MOz PGE) Resource (MOz PGE) Reserves (MOz PGE) Reserves (MOz PGE) PGE World Primary PGE 94 2,800.9 2,363.7 371.0 Na Byproduct na 841.3 545.3 196.5 Na Total 94 3642.2 2908.9 567.5 2,283 Africa Primary PGE 55 2,507.1 2,119.2 293.1 Na Byproduct na 12.2 9.3 2.5 Na Total 49 2519.3 2128.4 295.6 na Africa as % of World total 52.1% 69.2% 73.2% 52.1% Note: MI&I is for measured, indicated and inferred. P&P proven and probable. PGE includes platinum, palladium, iridium, osmium, rhodium and ruthenium. TABLE 3.26  PGE reserves and production, 2023. Africa Rest of the World PGE Reserves 2023 Production 2023 (MOz) Reserves 2023 Production 2023 (MOz) (MOz PGE) (MOz PGE) Platinum Palladium Platinum Palladium South Africa 2,025.50 3.86 2.28 Canada 9.97 0.18 0.51 Zimbabwe 38.58 0.61 0.48 Russian Federation 176.83 0.74 2.96 USA 26.36 0.09 0.32 Others na 0.15 0.09 Africa Total 2,064.08 4.47 2.76 ROW Total 213.16 1.16 3.87 As % of World Total 90.6% 79.4% 41.6% 9.4% 20.6% 58.4% WORLD TOTAL 2,277.24 5.63 6.64 Source: Modified after USGS Mineral Commodities Summaries, 2024). 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 73 Main African PGE deposits Of the 49 PGE deposits listed in the MinEx database, 18 are operating mines (Table 3.27), the majority (17) of giant size including 7 Tier 1 and 4 Tier 2 operations. In addition, there is also a pipeline of 19 projects (Table 3.28) at various stages between advanced exploration and feasibility/development, of which 12 are of giant size, ranking Tier 2 (4) and Tier 3 (8), and the rest of major size. TABLE 3.27  Main operating PGE mines in Africa. OPERATING PGE MINES Country Size Tier Pre-Mining Resource Metals Mafic Intrusion Hosted (non-NiS dominant) AMANDELBULT SECTION South Africa Super-Giant 1 845 Mt @ 5.04g/t PGE + 0.11g/t Au + 0% Ni PGE, Ni, Cu, Au, Co + 0.03% Cu IMPALA South Africa Super-Giant 1 949 Mt @ 5.18g/t PGE + 0.13g/t Au + 0% Ni PGE, Ni, Cu, Au, Co + 0.05% Cu MARIKANA South Africa Super-Giant 1 1378 Mt @ 4.36g/t PGE + 0.05g/t Au + 0% Ni PGE, Pt, Rh, Pd, Ru, Au, Ir, + 0.05% Cu Ni, Cu MOGALAKWENA South Africa Super-Giant 2 3487 Mt @ 2.6g/t PGE + 0.2g/t Au + 0% Ni + 0.06% Cu PGE, Pt, Pd, Ni, Cu RUSTENBURG SECTION South Africa Super-Giant 1 779 Mt @ 4.4g/t PGE + 0.17g/t Au + 0% Ni + 0.07% Cu PGE, Pt, Ni, Cu ZONDEREINDE South Africa Super-Giant 2 454 Mt @ 6.09g/t PGE + 0.12g/t Au PGE, Pt, Pd, Rh, Au NGEZI PGE CAMP Zimbabwe Super-Giant 2 1062 Mt @ 3.35g/t PGE + 0.11% Ni + 0.08% Cu Pt, Pd, Au, Rh, Ni, Ru, Cu, Co + 0.24g/t Au BOOYSENDAL South Africa Giant 2 848 Mt @ 3.81g/t PGE PGE, Au ELAND South Africa Giant 3 170 Mt @ 2.92g/t PGE PGE, Pt, Pd, Ni, Cu KROONDAL South Africa Giant 3 164 Mt @ 3.23g/t PGE + 0.03g/t Au + 0% Ni PGE, Pt, Pd, Ni, Cu + 0.01% Cu MARULA South Africa Giant 3 148 Mt @ 5.37g/t PGE + 0.09% Ni + 0.05% Cu PGE, Pt, Pd, Ni, Cu, Co + 0.18g/t Au MODIKWA South Africa Giant 2 508 Mt @ 4.62g/t PGE + 0.12g/t Au + 0% Ni PGE, Pt, Pd, Rh, Au, Ni, Cu + 0.04% Cu PILANESBERG South Africa Giant 2 435 Mt @ 3.02g/t PGE + 0.03% Ni + 0.01% Cu PGE, Pt, Au, Ni, Cu + 0.05g/t Au RUSTENBURG-IMPALA South Africa Giant 1 [est. 12 to 120 million ounces of PGE] PGE, Cr THARISA South Africa Giant 3 900 Mt @ 1.12g/t PGE PGE, Cr TWO RIVERS South Africa Giant 2 393 Mt @ 4.47g/t PGE + 0.09% Ni + 0.04% Cu PGE, Pt, Pd, Ni, Cu, Co + 0.13g/t Au UNION SECTION South Africa Giant 3 373 Mt @ 4.66g/t PGE + 0.05g/t Au + 0% Ni PGE, Pt, Pd, Ni, Cu + 0.02% Cu MIMOSA Zimbabwe Giant 3 112 Mt @ 3.27g/t PGE + 0.16% Ni + 0.12% Cu PGE, Pt, Ni, Au, Cu + 0.28g/t Au MOTOTOLO South Africa Major 3 573 Mt @ 4.03g/t PGE + 0.07g/t Au + 0% Ni PGE, Pt, Pd, Ni, Cu + 0.02% Cu Orthomagmatic UNKI Zimbabwe Giant 3 236 Mt @ 3.91g/t PGE + 0.02% Ni + 0.02% Cu PGE, Pt, Ni, Au, Cu + 0.02g/t Au 74 | MINERAL RESOURCES OF AFRICA TABLE 3.28  Main undeveloped PGE deposits in Africa. PROJECT NAME Country Size Tier Status Pre-Mining Resource Mafic Intrusion Hosted (non-NiS dominant) IVANPLATS PLATREEF PGM South Africa Super-Giant 2 Development/construction 852 Mt @ 3.19g/t PGE + 0.31% Ni + 0.16% Cu + 0.27g/t Au WATERBERG South Africa Giant 2 Pre-feasibility/scoping 309 Mt @ 3.19/t PGE + 0.18% Ni + 0.1% Cu + 0.24g/t Au KENNEDYS VALE South Africa Super-Giant 3 Undeveloped deposit 515 Mt @ 3.56g/t PGE + 0.12g/t Au MOOIPLATS South Africa Giant 3 Advanced exploration 60.9 Mt @ 5.41g/t PGE ZONDERNAAM South Africa Giant 3 Advanced exploration 77.4 Mt @ 6.39g/t PGE LESEGO South Africa Giant 3 Feasibility study 204 Mt @ 5.95g/t PGE + 0.21% Ni + 0.09% Cu GREAT DYKE PROJECT Zimbabwe Giant 3 Feasibility study 169 Mt @ 1.99/t PGE DE WILDT South Africa Giant 3 Feasibility study 16.2 Mt @ 2.33g/t PGE KALPLATS South Africa Giant 3 Feasibility study 137 Mt @ 1.52g/t PGE LEEUWKOP South Africa Giant 3 Feasibility study 137 Mt @ 6.48g/t PGE + 0.03% Ni + 0.01% Cu + 0.03g/t Au AKANANI South Africa Giant 3 Feasibility study 397 Mt @ 3.9g/t PGE SEDIBELO South Africa Giant 3 Pre-feasibility/scoping 128 Mt @ 5.67g/t PGE + 0.1g/t Au AURORA South Africa Major 3 Advanced exploration 154 Mt @ 1.36g/t PGE + 0.04% Ni + 0.05% Cu + 0.04g/t Au MAREESBURG South Africa Major 3 Feasibility study 15.9 Mt @ 3.92g/t PGE + 0.07% Ni + 0.03% Cu VOLSPRUIT South Africa Major 3 Unknown 28.2 Mt @ 2.37g/t PGE + 0.18% Ni + 0.06% Cu + 0.05g/t Au EASTERN BUSHVELD South Africa Major 3 Unknown [est. 2 to 12 million ounces of PGE] PHOSIRI PROJECT South Africa Giant 4 Advanced exploration 105 Mt @ 7.27g/t PGE + 0.16% Ni + 0.1% Cu MPHALELE South Africa Major 4 Feasibility study 116 Mt @ 4.85g/t PGE + 0.15% Ni + 0.09% Cu + 0.18g/t Au GRASS VALLEY South Africa Major 4 Undeveloped deposit 71.2 Mt @ 1.15 g/t PGE + 0.11% Ni + 0.03% Cu Orthomagmatic SHEBAS RIDGE South Africa Giant 3 Undeveloped deposit 605 Mt @ 0.93g/t PGE + 0.19% Ni + 0.08% Cu + 0.08g/t Au BOKAI Zimbabwe Major 3 Feasibility study 92.5 Mt @ 3.22g/t PGE + 0.2% Ni + 0.17% Cu + 0.37g/t Au SHEBAS RIDGE South Africa Giant 3 Undeveloped deposit 605 Mt @ 0.93g/t PGE + 0.19% Ni + 0.08% Cu + 0.08g/t Au Low-MgO Association NiS BOIKGANTSHO South Africa Major 3 Pre-feasibility/scoping 79.2 Mt @ 1.29g/t PGE + 0.11% Ni + 0.07% Cu + 0.08g/t Au 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 75 Silver General characteristics and uses Silver (symbol Ag, atomic number 47, and mass 107.9) is a highly reflective and soft transition metal, characterized by a very high level of electrical and thermal conductivity. Because of its luster and malleability, silver’s main use is in jewelry and silverware. Although its use in coinage has faded, silver has retained its reputation as a precious metal and bars and ingots are hoarded by investors as a hedge against economic risk. Its electrical conductivity suites a vast rage of electrical and electronic applications, while its reflectivity is exploited in the manufacturing of mirror and specialized solar reflectors. It also finds use in a range of medical applications. Silver minerals Although metallic silver occurs in nature, silver is mostly alloyed with various proportions of gold in electrum. Silver minerals include its sulfide argentite (Ag2S), but more frequently, silver forms compounds with other base metals and particularly with antimony (Sb) and arsenic (As), as in tetrahedrite ((Cu, Fe, Zn, Ag)12Sb 4S 13), pyragyrite (Ag 3SbS3), proustite (Ag 3AsS 3) and chlorargyrite (AgCl). Silver deposit types There are very few deposits in the world where silver is the primary mineral; generally these are low- sulfurization epithermal vein deposits, as for instance the giant Imiter mine in Morocco. The bulk of silver is a byproduct of lead-zinc SEDEX deposits, like Red Dog in Alaska, and Mount Isa and McArthur River in Australia, and of copper and gold mining. Resources, reserves, and production considerations Table 3.29 shows that there are 348 primary silver deposits in the world, of which a very small proportion (4 or 1.1 percent) are located in Africa. The table also shows how the current primary resources of silver (estimated at 18.1 billion ounces) are a very small proportion (26.7 percent) of the total world resources of 67.8 billion ounces. TABLE 3.29  Silver deposits in the world and in Africa, and their resources and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (MOz Ag) Resource (MOz Ag) Reserves (MOz Ag) Reserves (MOz Ag) SILVER World Primary 400 42,159 19,508 3,008 na Byproduct na 81,792 52,884 9,858 na Total 400 123,951 72,392 12,866 19,612 Africa Primary 5 846 226 62 na Byproduct na 1,633 1,173 195 na Total 5 2,479 1,398 257 na Africa as % of World total: 1.3% 2.0% 1.9% 2.0% Note: MI&I is for measured, indicated and inferred. P&P proven and probable. 76 | MINERAL RESOURCES OF AFRICA This is consistent with the bulk of the silver being produced as a byproduct of lead-zinc, copper, and gold mining. Main African silver deposits Africa accounts for a mere 1.5 percent of world resources. With only two primary operating silver mines (Table 3.30) and a relative paucity of SEDEX lead-zinc mines and deposits, the region is essentially insignificant in silver in the world context. Iron ore Figure 3.11 shows the location of the African iron ore, nickel and other main ferroalloy metals deposits. General characteristics and uses Iron (symbol Fe, atomic number 26, and mass 55.8) is a soft, silvery-gray metal. It is ductile and malleable, which allows it to be formed into sheets and thin wires. It is also thermally conductive and magnetic. Iron occurs in metallic form extremely rarely in nature, because of its tendency to oxidize. Iron accounts for over 90 percent of human metal usage. Small amounts of carbon retained from coke during smelting of the iron ore modify iron’s properties from hard and brittle high-carbon cast iron to malleable low-carbon steels containing less than 0.1 percent carbon. Iron is commonly used in manufacturing, transport (railways lines and rolling stock, shipbuilding and automobiles) and in machine tools and parts manufacturing. Vast amounts of iron are also utilized in construction. In combination with a range of ferroalloy metals, iron is converted to a variety of stainless steels for specialized use in domestic and medical appliances. Iron-ore minerals All iron-ore minerals, as listed in Table 3.31, are either oxides or hydroxides. The primary iron mineral in most type of deposits, both sedimentary (for example, BIFs) and magmatic in origin, is magnetite. The other minerals in Table 3.31 are generally the products of oxidation of magnetite through surficial and/or hydrothermal processes. These processes may, together with removing silica, enrich the iron ore to hematite-goethite-limonite with grades high enough (for example, 53 to 63 percent Fe) to make it suitable, after crushing and screening, as direct shipment ore (DSO). DSO is generally classified as either hard lump (that is, larger than 6.3 and smaller than 31.5 mm in size) or fines (that is, less than 6.3 mm in size); the latter may be blended and agglomerated into pellets or briquettes before shipment as direct feed into blast furnaces. In the case of primary BIFs with natural iron grades of around 25 to 35 percent, the ore must be processed to produce a high-grade (up to about 65–70 percent Fe) magnetite concentrate. TABLE 3.30  Main primary silver deposits in Africa. ACTIVE SILVER PROJECT Country Size Tier Stage Pre-Mining Resource Epithermal IMITER Morocco Giant 3 Operating mine 39.6 Mt @ 309g/t Ag ZGOUNDER Morocco Major 3 Operating mine 5.95 Mt @ 287g/t Ag VHMS BIEN VENUE South Africa Moderate - Advanced exploration 2.4 Mt @ 156g/t Ag + 0.69g/t Au + 2.5% Zn + 0.08% Cu 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 77 FIGURE 3.11  Location of deposits of iron ore, main ferroalloy metals, and mineral sands in Africa. Note: The diameter of symbols reflects the size of individual deposits. TABLE 3.31  Main iron-ore minerals. IRON MINERAL Formula Iron Percentage Hematite Fe2O3 69.9% Magnetite Fe3O4 74.2% Goethite FeO(OH) ∼ 63% Limonite FeO(OH) ∗ nH2O Variable < 63 Siderite FeCO3 48.2% 78 | MINERAL RESOURCES OF AFRICA To be suitable for use in blast furnaces, apart from its iron grade, iron ore needs to comply with stringent quality standards about its iron grade, size and impurity contents, particularly alumina (for example, maximum 5  percent and ideally less than 2.5  percent), silica (for example, maximum 8 percent), phosphorous (for example, maximum 0.15 percent and ideally less than 0.08 percent), sulfur (for example, maximum 0.1 percent) and loss on ignition (LOI). Types of iron-ore deposits In terms of their genesis, iron-ore deposits can in the first instance be classified as either sedimentary or magmatic/metamorphic. The term sedimentary covers several types of commercially important deposits, supplying the bulk of traded iron ore, which include in order of descending importance: • Banded iron formations (BIFs), which in their unaltered state normally feature alternations of iron and silica-rich thin layer, where the original iron mineral is prevalently magnetite but in some cases siderite. When the iron tenor is low and when they acquire a reddish color through metamorphism jaspilite, these are often referred to as ferruginous chert or taconite. Hydrothermal and surficial alteration may remove silica and oxidize the magnetite into hematite-goethite-limonite, enriching the BIF grade to commercial levels. • Chemically precipitated iron oolites and pisolites (approximately 5mm in diameter) typically deposited in paleovalley floors and subsequently resisting erosion and forming mesas. These deposits can reach economic grades of up to 58 percent iron, with generally very low phosphorus levels. • Detrital deposits include scree (canga) accumulations adjacent to mineralized BIFs and fluvial and marine placers. Magmatic/metamorphic deposits, which are generally high in phosphorus, include: • Magnetite segregations mostly within mafic intrusions and titano-magnetite layers and pods, sometime vanadiferous, within gabbroic and anorthositic complexes. • Contact metamorphic magnetite in irregular masses where intermediate to mafic rocks intrude carbonates or calcareous shales sequences. Resources, reserves, and production considerations The USGS (2020) estimates that the world resources of crude iron ore exceed 800 Bt, containing 230 Bt of metallic iron. This implies an average grade of 28.8 percent iron, which is heavily weighted by the large component of primary, low grade, BIF magnetite ores against the enriched and more commercially attractive hematite-goethite-limonite ores with grades of up to 63 percent iron. The MinEx database (Table 3.32) lists 1129 iron-ore deposits throughout the world, including 149 in Africa. While iron ore is present in most countries, the USGS Mineral Commodities Summary (2024) shows that the bulk of current world iron-ore reserves (totaling 190 Bt of ore containing 87 Bt of 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 79 TABLE 3.32  World and African iron-ore deposits, their resources and reserves (Mt of Fe content). Number of Pre-Mined Current Mi&I Current P&P USGS 2023 Deposits Resource (Mt Fe) Resource (Mt Fe) Reserves (Mt Fe) Reserves (Mt Fe) IRON ORE World 1,129 338,875 276,642 55,827 87,000 Africa 149 48,028 43,495 3,189 na Africa as % of World Total 13.2% 14.2% 15.7% 5.7% na Note: MI&I is for measured, indicated and inferred. P&P proven and probable. metallic iron) are held in the following four countries: Australia (58 Bt, 27 Bt Fe), Brazil (34 Bt, 15 Bt Fe), Russia (29 Bt, 14 Bt Fe) and China (20 Bt, 6.9 Bt Fe), which together account for just under 73 percent of total ore reserves. By comparison, only South Africa (with reserves of 1 Bt of ore containing 620 Mt of metallic iron out of a total for the world of 87 Bt) appears individually in the USGS’s reserves inventory, with all other African countries contributing to the category of “others” primarily because only a small proportion of their resources has to date been delineated to a level of confidence deserving a formal reserve classification. As already mentioned, this conveys an inadequate impression of the real future potential of the iron-ore industry in many parts of Africa, especially in the West and Central regions. A glaring example of this disparity is the Simandou deposit in Guinea, where original reserves were (RIO, 2018) downgraded to 2.76 Bt of resources. This was due to uncertainty relating to the timing and commercial feasibility of a possible development and consequently failed to be captured by either the USGS’s or MinEx’s statistics, even though reserves of 2.4 Bt have tentatively been included in Table 3.33 of this report. A similar situation may be occurring regarding iron-ore resources straddling the border between Cameroon and the Republic of Congo. In essence, the small proportion of reported African iron-ore reserves relative to the world total may not be representative both of Africa’s current endowment and exploration potential, as iron-ore resources are present in a large number of African countries, including producing countries besides South Africa, such as Mauritania, Sierra Leone and Liberia, among others. The current, relatively insignificant level of African iron-ore production at 85.4 Mt (or 3.4 percent of 2,548 Mt total world production in 2023) reinforces the inadequate perception of the iron-ore potential of the continent, particularly its West and Central Regions. Main African iron-ore deposits The MinEx database lists 149 significant iron-ore deposits throughout Africa. In terms of their deposit types, 45 deposits are classified as being magnetite-bearing BIFs, including 3 of taconites, 40 are hematite/goethite enriched BIF including 10 itabiritic and 3 taconitic deposits, with the balance including 8 oolitic, 3 skarn, 2 orthomagmatic and one VMS deposit. The balance are deposits of “unknown” unspecified genetic origin, but it is expected that the bulk of these will primarily be magnetite BIF deposits with variable but generally modest levels of enrichment. 80 | MINERAL RESOURCES OF AFRICA TABLE 3.33  Iron ore reserves and production in the world and in Africa, 2023. Africa Rest of World Reserves 2023 Production 2023 Reserves 2023 Production 2023 IRON ORE (Mt Ore) (Mt Ore) (Mt Ore) (Mt Ore) Guinea 2,400 na Australia 58,000 960 South Africa 990 61.00 Brazil 34,000 440 Mauritania na 13.00 China 20,000 280 Others (est.) na na India 5,500 270 Sierra Leone na 3.50 Russian Federation 29,000 88 Liberia na 5.00 Canada 6,000 70 Algeria na 2.00 Chile na 18 Egypt na 0.60 Iran 3,300 77 Tunisia na 0.20 Kazakhstan 2,500 53 Togo na 0.06 Mexico na 12 Morocco na 0.02 Peru 2,600 19 Sweden 1,300 38 Türkiye 152 17 Ukraine 6,500 36 USA 3,100 48 Others 18,000 37 ROW Total 189,952 2,463 Africa Total 3,390 85.38 As % of Total 3.4% 98.2% 96.6% WORLD TOTAL 193,342 2,548 Source: Modified after USGS Mineral Commodity Summaries, 2024. Out of the total of 149 deposits, 20 are currently operating mines of which 15, as shown in Table 3.34, are of giant or major size. Of the latter, six are located in South Africa (including the giant Tier 1 Sishen mine [2403 Mt @ 54.9 percent Fe]); three in Mauritania; three in Liberia (including the giant Tier 2 and 3 Liberia Mines and Bong mine [3346 Mt at 37.3 percent Fe and 4183 Mt at 35.9 percent Fe respectively]); and one each in Algeria, Egypt, and Sierra Leone. Despite the large number of operating mines, the collective production output of just over 85 Mt (Table 3.33) is modest and it is fair to say that the iron-ore mining potential of Africa is far from being fully realized. As Appendix B and Table 3.35 show, there are 18 undeveloped giant deposits and many more major ones. Some of these are of very high quality, such as Simandou (Blocks 1 to 4) in Guinea (with resources of 4,659 Mt at 65.5 percent Fe, including reserves of 2,400 Mt at > 63 percent Fe). In the past, development 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 81 TABLE 3.34  Operating iron-ore mines in Africa. Operating Iron Ore Mines NAME Country Size Tier Pre-Mining Resources Sedimentar SISHEN South Africa Giant 1 2402 Mt @ 54.9% Fe LIBERIA MINES Liberia Giant 2 3446 Mt @ 37.3% Fe IDJL KEDIA Mauritania Major 2 439 Mt @ 65.0% Fe BONG Liberia Giant 3 4183 Mt @ 35.9% Fe GUELBE EL RHEIN Mauritania Major 3 664 Mt @ 37.0% Fe MHOUADAT Mauritania Major 3 162 Mt @ 66.0% Fe MOKANENG South Africa Major 3 [est 100 to 500 Mt of Fe] THABAZIMBI ISCOR South Africa Major 3 28 Mt @ 62.6% Fe BEESHOEK South Africa Major 3 257 Mt @ 62.7% Fe TAZADIT Mauritania Moderate [est 10 to 100 Mt of Fe] ASWAN Egypt Moderate 121 Mt @ 45% Fe Unspecified TEBESSA Algeria Major 3 [est 100 to 500 Mt of Fe] BAHARIYA Egypt Major 3 772 Mt @ 52.0% Fe MARAPA (MAGNETITE) Sierra Leone Major 3 1062 Mt @ 31.3% Fe KHUMANI South Africa Major 3 766 Mt @ 62.5% Fe KOLOMELA South Africa Major 3 409 Mt @ 63.3% Fe WESTERN RAGE Liberia Major 3 505 Mt @ 48.5% Fe IRON QUEEN Morocco Moderate 50 Mt @ 56% Fe DJERISSA IRON ORE Tunisia Moderate [est 10 to 100 Mt of Fe] TIA Cote d’Ivoire Moderate 102 Mt @ 55% Fe of these deposits was hindered by logistic and socio-political circumstances, but they are currently being developed. Ferroalloy minerals (manganese, chromium, nickel, vanadium) This section covers the following ferroalloy metals: manganese (Mn), chromium (Cr), nickel (Ni) and vanadium (V). The location of their African deposits has already been provided in Figure 3.11. Manganese and nickel are dealt with in the ferroalloys metal section because this is their most important use. It is important to note, however, their increasing importance for use in the manufacturing of lithium-ion EV batteries. Other important alloying metals/minerals such as cobalt (Co) and graphite are dealt with in the later “Battery metals’ section because their rapidly growing use in the manufacturing of lithium-ion EV batteries is now becoming dominant. 82 | MINERAL RESOURCES OF AFRICA TABLE 3.35  Largest undeveloped iron-ore deposits in Africa. UNDEVELOPED IRON-ORE PROJECT Country Size Tier Stage Pre-Mining Resource Sedimentary GARA DJEBILET Algeria Giant 3 Advanced exploration 1000 Mt @ 57% Fe LEBTHENIA Mauritania Giant 3 Advanced exploration 2740 Mt @ 31.92% Fe SIMANDOU (BLOCKS 1 & 2) Guinea Giant 1 Development/construction 1800 Mt @ 65.5% Fe SIMANDOU (BLOCKS 3 & 4) Guinea Giant 1 Development/construction 2859 Mt @ 65.58% Fe ZANAGA Congo, Rep. Giant 2 Feasibility study 6090 Mt @ 32% Fe BELINGA Gabon Giant 3 Feasibility study 860 Mt @ 63% Fe PUTU RANGE Liberia Giant 3 Feasibility study—stalled 4400 Mt @ 34% Fe MBALAM Cameroon Giant 3 Feasibility study—stalled 4183.7 Mt @ 34.6% Fe NIMBA (BHP) Guinea Giant 2 Pre-feasibility/scoping 935 Mt @ 58% Fe GUELB EL AOUJ Mauritania Giant 3 Pre-feasibility/scoping 4425 Mt @ 35.6% Fe PIERRE RICHAUD Guinea Giant 2 Stalled—environmental 463 Mt @ 65% Fe BABONDO Congo, Rep. Major 3 Advanced exploration [est. 100 to 500 Mt Fe] BEA MOUNTAIN Liberia Major 3 Advanced exploration 600 Mt @ 40% Fe TOPA Central African Republic Major 3 Advanced exploration [est. 100 to 500 Mt Fe] WADI HALFA Sudan Major 3 Advanced exploration 400 Mt @ 36% Fe ASKAF Mauritania Major 3 Feasibility study 656 Mt @ 34.92% Fe TETE Mozambique Major 3 Feasibility study 759.1 Mt @ 33.82% Fe EL AGAREB Mauritania Major 3 Feasibility study—stalled 1000 Mt @ 35% Fe MAYOKO-MOUSSONDJI Congo, Rep. Major 3 Pre-feasibility/scoping 917 Mt @ 31.4% Fe BANIAKA Gabon Major 3 Pre-feasibility/scoping 760.9 Mt @ 36.65% Fe NIMBA (SABLE) Guinea Major 3 Pre-feasibility/scoping 205.2 Mt @ 57.81% Fe SIMANDOU SOUTH Guinea Major 3 Pre-feasibility/scoping [est. 100 to 500 Mt Fe] WOLOGISI Liberia Major 3 Undeveloped deposit 1271 Mt @ 35% Fe POSTMASBURG South Africa Major 4 Undeveloped deposit [est. 100 to 500 Mt Fe] ZANDRIVERSPORT South Africa Major 3 Undeveloped deposit 419.1 Mt @ 35.4% Fe LIGANGA Tanzania Major 4 Undeveloped deposit 1500 Mt @ 25% Fe Skarn FALEME Senegal Major 3 Feasibility study [est. 100 to 500 Mt Fe] Unspecified CUNENE Namibia Giant 3 Advanced exploration 2370 Mt @ 23% Fe AVIMA Congo, Rep. Giant 3 Feasibility study 1600 Mt @ 36% Fe MBALAM-NABEBA Congo, Rep. Giant 3 Feasibility study 1714 Mt @ 34.1% Fe NKOUT Cameroon Giant 3 Pre-feasibility/scoping 2728.5 Mt @ 31.81% Fe VEREMO South Africa Giant 3 Feasibility study 612.05 Mt @ 58.19% Fe (continues) 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 83 TABLE 3.35  Largest undeveloped iron-ore deposits in Africa. (Continued) UNDEVELOPED IRON-ORE PROJECT Country Size Tier Stage Pre-Mining Resource MECHERI ABDELAZIZ Algeria Giant 3 Undeveloped deposit 1350 Mt @ 50% Fe GAAB Sudan Giant 3 Undeveloped deposit 15000 Mt @ 45% Fe XAUDUM Botswana Major 3 Advanced exploration 441 Mt @ 29.4% Fe NGOVAYANG Cameroon Major 3 Advanced exploration 500 Mt @ 35% Fe SHEINI HILLS Ghana Major 3 Advanced exploration 1312.3 Mt @ 33.79% Fe WADI ASH SHATTI Libya Major 3 Advanced exploration 795 Mt @ 51.7% Fe KOTONKARFE Nigeria Major 3 Advanced exploration 1098 Mt @ 43% Fe FERENSOLA Sierra Leone Major 3 Advanced exploration 514.5 Mt @ 31.84% Fe KASEMPA Zambia Major 3 Advanced exploration 229 Mt @ 66% Fe BOKA BOKA Gabon Major 3 Advanced exploration 194 Mt @ 62% Fe SOALALA Madagascar Major 3 Advanced exploration 360 Mt @ 35% Fe HAMMERHEAD Namibia Major 3 Advanced exploration 692.8 Mt @ 23.74% Fe ASONGA Congo, Dem. Rep. Major 3 Advanced exploration [est. 100 to 500 Mt Fe] AGBAJA Nigeria Major 3 Feasibility study 586.4 Mt @ 41.33% Fe ITAKPE Nigeria Major 3 Feasibility study 310 Mt @ 36.5% Fe MAYOKO Congo, Rep. Major 3 Feasibility study—stalled 795 Mt @ 36% Fe MARAMPA (HEMATITE) Sierra Leone Major 3 Pre-feasibility/scoping 680 Mt @ 28.21% Fe BUSHVELD South Africa Major 3 Pre-feasibility/scoping 1223.36 Mt @ 31.42% Fe BAYODA Sudan Major 3 Prospect 2343 Mt @ 30% Fe BAGLA HILLS Sierra Leone Major 4 Stalled—environmental 838 Mt @ 32% Fe KLAHOYO Côte d’Ivoire Major 4 Undeveloped deposit 1000 Mt @ 36.3% Fe BAGRAWIYA Sudan Major 4 Undeveloped deposit 1351 Mt @ 30% Fe PIGG’S PEAK Swaziland Major 4 Subeconomic 293.55 Mt @ 35% Fe ELANDSFONTEIN South Africa Major 4 Unknown [est. 100 to 500 Mt Fe] Manganese General characteristics and uses Manganese (symbol Mn, atomic number 25, and mass 54.9) is a gray-white, hard and very brittle transition metal not found as a free element in nature, but often found in minerals in combination with iron, with which it has great affinity. The vast majority (>95  percent) of manganese ore is converted into ferromanganese and silicomanganese additives for the iron, steel, and aluminum alloys industry, and used for its sulfur- fixing and deoxidizing properties, for which there is no practical substitute. Manganese content in steel, ranging from 1 percent to 13 percent, improves workability and increases its strength, with the higher grades utilized for railway tracks, rifle barrels, safes, and prison bars, among others. Up to 1.5 percent of manganese is also used in drink cans to improve resistance to corrosion. 84 | MINERAL RESOURCES OF AFRICA Demand for manganese driven by the EV battery industry has grown fast over the last decade, but this represents only a minor proportion of its other industrial applications. In addition, not all types of manganese ores lend themselves to a purity suitable for battery manufacturing. Manganese minerals From the mineralogical and chemical point of view, manganese ores can be broadly classified as: • Oxides/Hydroxides, generally acidic psilomelane (m MnO.MnO2.n H2O (45–60 percent Mn)), pyrolusite (MnO2 (63.2 percent Mn)) and manganite (MnO2-Mn. (OH)2 (62.5 percent Mn)) ores, with grades of 35 to 54 percent Mn; and • Carbonates, primarily rhodochrosite (MnCO3 (47.8  percent Mn), oligonite ((Mn,Fe)CO3 (23–32  percent Mn)), and manganocalcite ((Ca,Mn)CO3 (up to 20–25  percent Mn)) ores, containing 10 to 25 percent Mn and differing from acidic ores in their increased phosphorus and lower silica content. Thick secondary manganese ore caps, which formed due to ancient and modern weathering, generally contain pyrolusite, psilomelane, and other hydroxides of manganese and iron. Significant deposits of this type of easy-to-mine ore occur in India, Brazil, Ghana, and South Africa. Cryptomelane (KMn8O16.H2O) group minerals are frequently associated with other manganese minerals in filling karst cavities. In addition, the following minerals are also frequently found in manganese ores: vernadite, MnO2.H2O (44–52  percent Mn); braunite, Mn2O3 (69.5  percent Mn); hausmannite, Mn3O4 (72  percent Mn); rhodonite, (Mn,Ca)(Si3O9) (32–41 percent Mn); and bustamite, (Ca,Mn)(Si3O9) (12–20 percent Mn). Iron minerals are invariably associated with manganese ores. Manganese deposit types Economically important manganese-ore deposits are in most cases of sedimentary origin, subsequently diagenetically or hydrothermally modified to various degrees, or of supergene origin. According to Kuleshov (2011) they can be classified as follows: • Sedimentary diagenetic (for example, Nikopol and Bol’she-Tokmak, Ukraine); • Volcano-sedimentary, diagenetically and/or hydrothermally modified (for example, Atasui area, Kazakhstan; Magnitogorsk Trough, South Urals); • Epigenetic hydrothermal stratiform and vein (for example, Kalahari Basin manganese ore field, South Africa; Usinsk deposit, Kuznetsk Alatau, Russia); • Pisolitic or oolitic deposits (India, Brazil, South Africa, and particularly Groote Eylandt, Australia), • Supergene residual or karst-hosted (BouArfa, Tiharitine and Imini, Morocco); and • Manganese-rich sea-bed nodules. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 85 From a metallogenic epoch point of view, primary manganese deposits fall mostly into one of the following four groups: • Paleoproterozoic (Kalahari region of South Africa); • Neoproterozoic (mostly Brazil, with many smaller deposits occurring in China); • Cretaceous (Groote Eylandt, Australia); and • Cainozoic (around the Black Sea). In most cases, ore grades tended to be achieved from post-sedimentation enrichment of original manganiferous sediments, due initially to diagenesis and subsequently to hydrothermal processes, which played a significant role in the mobilization and concentration of manganese into economically significant, generally stratabound deposits. Of less significance are hydrothermal vein deposits of manganese, which are often found adjacent to and may have been genetically related to their stratabound counterparts as conduits for the penetration of hydrothermal fluids through lithified sedimentary or pyroclastic sequences. This genetic model is applicable to the giant Paleoproterozoic deposits in the Kalahari Basin of South Africa, which are hosted in the Transvaal Supergroup at the margin of the Kaapvaal Craton. Resources, reserves, and production considerations The MinEx database contains a total of 85 primary manganese mineral deposits throughout the world of “moderate” size or larger (that is, containing more than 0.5 Mt of manganese) (Table 3.36). Collectively, these deposits account for a total resource—including measured, indicated and inferred resources (MI&I)—of 1,651 Mt of manganese, of which 449.4 Mt have been delineated as reserves in the MinEx database and 1,900 by the USGS (2024), as shown in the country break up in Table 3.36. This represents a significant inconsistency between the two databases, resulting in the MinEx’s reserves amounting to 66.2  percent of the world total, as opposed to the much lower USGS’s estimate of 35.5 percent. Similarly, of the 85 land-based deposits, 30 are in Africa, accounting for 66.4 percent of the world current manganese resources. This confirms Africa’s—and more particularly South Africa’s—importance in this sector, followed by Brazil, Ukraine and Australia. TABLE 3.36  Manganese deposits in the world and Africa, and their resources and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (Mt Mn) Resource (Mt Mn) Reserves (Mt Mn) Reserves (Mt Mn) MANGANESE World Primary 85 2618.7 1651.1 449.4 1900.0 Africa Primary 30 1693.4 1095.9 297.4 674.0 Africa as % of World total 35.3% 64.7% 66.4% 66.2% 35.5% Note: USGS 2023 reserves are made up of Gabon (data partially redacted) and South Africa (600 Mt). Note: MI&I is for measured, indicated and inferred. P&P proven and probable. 86 | MINERAL RESOURCES OF AFRICA Africa’s dominance of the manganese industry is also emphasized in Table 3.37, showing how the continent’s manganese production (estimated by the USGS to have been 13.0 Mt in 2023) represented 66.6 percent of total world production. Figure 3.12 displays the geographical distribution of the manganese deposits throughout the world clearly emphasizing the importance of the Southern African and West African endowments as major sources of supply. Main African manganese deposits Table 3.38 lists the 23 active manganese deposits located in Africa, differentiated between 17 operating mines and 6 undeveloped deposits, in order of descending size. The bulk of world-class manganese resources are contained in 14 epigenetically modified deposits of the Paleoproterozoic Kalahari Basin of South Africa, where manganese occurs in stratabound accumulation which may be iron-rich in places, and in supergene manganese deposits, such as Moanda and Franceville in Gabon and Nsuta in Ghana. The high-grade, supergene manganese oxide ores in Gabon formed during the early Eocene from weathering of rhodochrosite-bearing black shales and manganese carbonates associated with Birimian volcanism. Chromium General characteristics and uses Chromium (symbol Cr, atomic number 24 and mass 52.0) is a transition metal that is gray, hard and brittle, and highly resistant to corrosion. TABLE 3.37  Manganese reserves and production in the world and Africa, 2023. Africa Rest of World Reserves 2023 Production 2023 Reserves 2023 Production 2023 MANGANESE (Kt Mn) (Kt Mn) (Mt Kn) (Kt Mn) South Africa 600,000 7,200 Australia 500,000 3,000 Gabon 61,000 4,600 China 280,000 740 Ghana 13,000 840 Brazil 270,000 620 Côte d’Ivoire na 390 India 34,000 720 Other (est.) 474,100 na Ukraine 140,000 320 Malaysia na 250 Burma na 210 Georgia na 160 Mexico 5,000 220 Kazakhstan 5,000 130 Vietnam na 160 Others Small Africa total 1,148,100 13,030 Rest of the world total 1,234,000 6,530 As % of Total 48.2% 66.6% 51.8% 33.4% WORLD TOTAL 2,382,100 19,560 Source: Modified after USGS’s Mineral Commodity Summaries, 2024). 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 87 FIGURE 3.12  World distribution of manganese deposits. Note: The diameter of symbols reflects the size of individual deposits on a pre-mined resource basis. FIGURE 3.13  Tonnages and grades distribution of primary manganese deposits. 88 | MINERAL RESOURCES OF AFRICA TABLE 3.38  Significant African manganese operating mines and undeveloped deposits. Manganese Mines and Undeveloped Projects NAME Country Size Tier Pre-Mining Resource Operating mine MOANDA Gabon Giant 1 582 Mt @ 34.5% Mn KUDUMANE South Africa Giant 2 [est. 100 to 500 Mt Mn] MAMATWAN South Africa Giant 1 379 Mt @ 40.16% Mn NCHWANENG South Africa Giant 1 841 Mt @ 38.76% Mn TSHIPI BORWA South Africa Giant 2 446 Mt @ 33.39% Mn BEMBELE Gabon Major 3 41.7 Mt @ 33.44% Mn FRANCEVILLE Gabon Major 3 42.7 Mt @ 31.75% Mn NSUTA (CARBONATE) Ghana Major 3 128 Mt @ 26.85% Mn GLORIA South Africa Major 3 [est. 20 to 100 Mt Mn] UMK South Africa Major 3 282 Mt @ 35% Mn WESSELS South Africa Major 2 249 Mt @ 41.78% Mn LOHATHLA MINE South Africa Major 3 [est. 20 to 100 Mt Mn] IMINI Morocco Moderate 3 [est. 2 to 20 Mt Mn] OTJOSONDU Namibia Moderate 3 9.66 Mt @ 35% Mn LOMOTENG South Africa Moderate 3 51.2 Mt @ 34% Mn PERTH South Africa Moderate 3 9.05 Mt @ 35% Mn BOU ARFA Morocco Moderate 3 [est. 2 to 20 Mt Mn] Undeveloped project TAMBAO Burkina Faso Major 3 19 Mt @ 52% Mn KALAGADI South Africa Major 3 102 Mt @ 38% Mn AVONTUUR South Africa Major 4 162 Mt @ 38.57% Mn KONGONI South Africa Major 3 147 Mt @ 35.7% Mn KGWAKGWE Botswana Major 3 14.83 Mt @ 11.75% Mn MOKALA South Africa Moderate 3 48.1 Mt @ 36.8% Mn The main use of chromium (about 95 percent) is in alloying with other metals, particularly with steel (up to 11 percent Cr), to improve their heat, abrasion, corrosion and oxidation resistance. Chromium is also used in electroplating, as a yellow pigment, and as a refractory. There are no substitutes for ferrochromium in the steel industry. Chromium minerals Chromite (FeCr2O4) is the only mineral of chromium found in concentrations that make it economically feasible to mine. It theoretically contains a maximum of 68.0 percent chromium trioxide (Cr2O3) by weight, but its chromium trioxide content is generally lower, as chromite belongs to a spinel group of polymorph minerals where chromium may be substituted by other metals. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 89 Type of chromite deposits Chromite crystallizes from cooling magma in large mafic to ultramafic intrusions, concentrating in extensive but often thin stratiform deposits (reefs) or smaller pod-like deposits. The most important deposits are found in large, layered, igneous intrusions in Precambrian shields older than 1,900 Ma, such as the Bushveld Complex in South Africa, while the most important podiform deposits occur in peridotites/serpentinites in Kazakhstan. Vast quantities of chromite are a byproduct of PGE mining. Resources, reserves, and production considerations According to the USGS (2020), 75 percent of current chromium reserves and an estimated 95 percent of vast world resources of shipping-grade chromite ore, with grade normalized at 45 percent Cr2O3, are concentrated in two countries: Kazakhstan (230 thousand metric tons, or 40 percent of total world reserves of 570 thousand metric tons); and South Africa (200 thousand metric tons or 35.1 percent). India is a distant third at 17.6 percent (Table 3.39). Main African chromite deposits In 2024, South Africa was the leading producer at 18 Mt of chromite (43.5 percent out of a world total of 41.4 Mt), with Türkiye and Kazakhstan equal second at 6 Mt. The main African chromite deposits, all located in South Africa, are listed in Table 3.40. Nickel General considerations and uses Nickel (symbol Ni, atomic number 28 and mass 58.7) is one of the ferromagnetic metals of Group 10 of the periodic table. Nickel is hard and silvery-white in color, ductile and malleable, and markedly resistant to oxidation and corrosion. Nickel is used principally in alloying, particularly in the manufacturing of stainless steel, which absorbs more than 80  percent of production, adding toughness, strength, rust resistance. Nickel is used TABLE 3.39  Chromite reserves and production in the world and Africa, 2023. Africa Rest of World Reserves 2023 Production 2023 Reserves 2023 Production 2023 CHROMITE (Kt Cr2O3) (Kt Cr2O3) (Kt Cr2O3) (Kt Cr2O3) South Africa 200,000 18,000 Kazakhstan 230,000 6,000 India 79,000 4,200 Turkey 27,000 6,000 Finland 8,300 2,000 USA 630 na Others ? ? Others na 5,200 Africa total 200,000 18,000 ROW total 344,930 23,400 As % of Total 36.7% 43.5% 63.3% 56.5% WORLD TOTAL 544,930 41,400 Source: Modified from USGS’ Mineral Commodity Summaries, 2024. 90 | MINERAL RESOURCES OF AFRICA TABLE 3.40  Main chromite deposits in Africa. Chromium operating mines and undeveloped deposits NAME Country Size Tier Pre-Mining Resource OPERATING MINE Mafic Intrusion-hosted (non-NiS dominant) EASTERN BUSHVELD: TWEEFONTEIN South Africa Giant 1 [40–200 Mt of Cr2O3] EASTERN BUSHVELD: WINTERVELD South Africa Giant 1 [40–200 Mt of Cr2O3] EASTERN BUSHVELD: HELENA SECTION South Africa Major 1 [8–40 Mt of Cr2O3] WESTERN BUSHVELD: BOSHOEK SECTION South Africa Major 3 [8–40 Mt of Cr2O3] WESTERN BUSHVELD: MARIKANA SECTION South Africa Major 2 [8–40 Mt of Cr2O3] WESTERN BUSHVELD: RUSTENBURG South Africa Major 2 [8–40 Mt of Cr2O3] EASTERN BUSHVELD: CLAPHAM SECTION South Africa Moderate 2 [0.8–8 Mt of Cr2O3] EASTERN BUSHVELD: JAGDLUST South Africa Moderate 3 [0.8–8 Mt of Cr2O3] WESTERN BUSHVELD: BRITS SECTION South Africa Moderate 3 [0.8–8 Mt of Cr2O3] WESTERN BUSHVELD: RUIGHOEK SECTION South Africa Moderate 3 [0.8–8 Mt of Cr2O3] Orthomagmatic BUFFELSFONTEIN CHROME MINE South Africa Major 3 [8–40 Mt of Cr2O3] UNDEVELOPED DEPOSIT Mafic Intrusion-hosted (non-NiS dominant) WESTERN BUSHVELD: UNION SECTION South Africa Moderate 3 [0.8–8 Mt of Cr2O3] Orthomagmatic KLIPFONTEIN/WATERVAL South Africa Giant 3 [40–200 Mt of Cr2O3] subordinately in electroplating and as a catalyst. A rapidly growing use of nickel is as a substitute for the more expensive cobalt in the manufacturing of EV batteries. Nickel minerals In sulfide deposits, nickel mineralization generally consists of pentlandite (FeNi)9S8, nickeliferous pyrrhotite (Fe1-xS), chalcopyrite (CuFeS2), and magnetite (Fe3O4), where nickel and cobalt may partially substitute for iron and copper. Nickel laterite deposits contain different nickel-bearing minerals, depending on where they occur in the lateritic profile. Near surface nickel occurs in ferrous hydroxides such as nickeliferous goethite- limonite (Fe, Ni)O(OH)), enriched (up to 1–2 percent Ni) due to very strong leaching of magnesium and silica. Alternatively, it can occur in nontronitic nickel-bearing clays (Fe (Ca, Na, Mg, Al)), which can contain up to 4 percent Ni. Deeper in the lateritic profile, in the saprolite zone nickel occurs in hydrated magnesium-nickel silicates (including garnierite, lizardite) (Ni, Mg)3Si2O5 (OH)) and olivine ((Mg, Fe, Ni)2SiO4). Types of nickel deposits From a production point of view, nickel deposits can in the first instance be classified based on whether nickel minerals occur as a “primary” product (490 deposits), or as a “byproduct”, associated with 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 91 mining of other main mineral commodities (61 deposits), typically PGEs and subordinately copper and cobalt uranium/vanadium. Furthermore, from a geological genetic point of view, irrespective whether they are “primary” or “byproduct”, nickel deposits fall mostly within one of the following two types: • Magmatic nickel, cobalt and PGE sulfide deposits, which can in turn be classified as either: — Intrusive, where a dense and immiscible metal-rich liquid sulfide phase has settled down generally at the base (Norilsk, Russia) or as discrete sulfide layers, and disseminations in large mafic to ultramafic complexes, such as the stratabound deposits of the Merensky Reef in South Africa; or as — Extrusive, where sulfides occur often as massive or densely disseminated lenses at the base of komatiitic lava flows that have become saturated in sulfur through differentiation or assimilation of sulfur-rich surrounding rocks, as for instance in the Kambalda deposits of Western Australia and Sudbury in Canada. The most economically important magmatic deposits are Precambrian (older than 2500 Ma) in age and have, in some cases, undergone deformation, alteration and metamorphism, with remobilization of the ore minerals. • Laterite deposits, formed by intensive weathering of ultramafic rocks, particularly of Ni-Co rich serpentinized peridotites, exposed to long periods of warm and humid tropical climate, as for instance during the Mid-Tertiary period. Lateritization, which often reaches depths more than 100 meters, dissolves nickel, cobalt and other metal sulfides and silicates and concentrates, and redeposits them at various levels in the lateritic profile, primarily as nickeliferous goethite- limonite, nontronitic clays and hydrous silicates. Laterite deposits are very significant, as they are estimated to contain about 68 percent the of the world nickel resources. Many deposits contain appreciable amounts of cobalt which, considering its rapidly increasing price, has recently become an important consideration in determining the commercial feasibility of developing laterite deposits. Vast amounts of nickel are also associated with as yet unexploited deep marine nodules and crusts. Nickel can also be a byproduct in a minority of other sediment-hosted base metal deposits, as for example the Kupferschiefer and vanadium-uranium-nickel deposits like Alum Shale in Sweden, which hosts a staggering 5.4 Bt of ore at 0.03 percent Ni. Resources, reserves, and production considerations The MinEx database contains a total of 547 primary nickel mineral deposits throughout the world of “moderate” size or larger (more than 1000 metric tons of Ni metal) containing current resources of 352.1 Mt of nickel. These primary nickel deposits include 236 magmatic deposits (mainly in Australia, Russia, China, and Canada) or 244 lateritic deposits (mostly located in Indonesia, Australia, Brazil, New Caledonia, Cuba, the Philippines, and Africa). Forty-eight of these primary deposits are located in African countries, containing 23.4 million metric tons (Mt) of nickel. In addition, as shown in Table 3.41, significant amounts of nickel occur as an important byproduct of mining and processing of other metals. Interestingly, while byproduct nickel represents only around 92 | MINERAL RESOURCES OF AFRICA FIGURE 3.14  Worldwide location map of nickel deposits. Note: The diameter of symbols reflects the size of individual deposits. TABLE 3.41  Nickel resources in the world and in Africa, broken up by primary and byproduct sources. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (Mt Ni) Resource (Mt Ni) Reserves (Mt Ni) Reserves (Mt Ni) NICKEL World Primary 547 424.7 352.1 66.1 na Byproduct na 34.0 31.3 1.9 na Total 547 458.7 383.4 68.0 130.0 Africa Primary 48 25.8 23.4 2.2 na Byproduct na 18.6 16.1 1.2 na Total 48 44.4 39.5 3.4 na Africa as % of World Total 8.8% 9.7% 10.3% 5.0% Note: MI&I is for measured, indicated and inferred. P&P proven and probable. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 93 8 percent of the total world nickel resources (31.3 Mt out of a total of 383.4 Mt), byproduct nickel in Africa constitutes a much higher proportion at 40.8 percent of the African total resources (16.1 Mt out of a total of 39.5 Mt). This is explained by the very high level of byproduct nickel contained in PGE deposits located mostly in Southern Africa and in Maslovskoye in Russia, and in association with volcanogenic copper-nickel and sedimentary vanadium shale deposits. Most of the byproduct nickel is associated with PGE production and subordinately with copper, vanadium and uranium production. As usual, the MinEx database “reserve” figure at 68.0 Mt is somewhat lower than the 2023 “reserves” estimate made in the USGS’s Mineral Summary (2024) at 130.0 Mt (Table 3.41), because of the broader definition of reserves used. Figure 3.15 provides a log-log plot of the tonnages and grades of all known nickel deposits in the world differentiating their various genetic origins and identifying the deposits located in Africa from those in the rest of the world (ROW). From the point of view of production, Table 3.42 shows how production from lateritic deposits in Indonesia, the Philippines, and New Caledonia dominates world nickel production in general, while Russia, Australia, and Canada account for the vast majority of nickel-sulfide production. FIGURE 3.15  Log-log plot of the tonnages and grades of all known nickel deposits in the world broken up by their genetic origins, and identifying those located in Africa from the rest of the world (ROW). 94 | MINERAL RESOURCES OF AFRICA TABLE 3.42  Nickel production statistics (metric tons of nickel metal). Africa Rest of World NICKEL Reserves 2023 (t Ni) Production 2023 (t Ni) Reserves 2023 (t Ni) Production 2023 (t Ni) Madagascar na 31,000 Australia 24,000,000 160,000 South Africa na 21,590 Brazil 16,000,000 89,000 Zambia na 10,000 Canada 2,200,000 180,000 Others (est.) na - China 4,200,000 110,000 Côte d’Ivoire na 27.8 Cuba 5,300,000 45,200 Zimbabwe na 16.2 Indonesia 55,000,000 1,800,000 Morocco na 0.1 New Caledonia 7,100,000 230,000 Philippines 4,800,000 400,000 Russian Federation 8,300,000 200,000 USA 340,000 17,000 Others 3,800,000 334,800 Africa total 62,634 ROW total 131,040,000 3,566,000 As % of Total 1.7% 100.0% 98.3% WORLD TOTAL 131,040,000 3,628,634 Source: Modified from USGS’s Mineral Commodity Summaries, 2024). Once again, African reserves and nickel production were included in the original USGS’s statistics under the heading of “other countries”; however, Table 3.42 provides disaggregated production information from other sources. The leading African producing country is Madagascar where the metal is sourced from the large Ambatovi nickel laterite. The other producing countries—South Africa, Botswana, and Zimbabwe—are based on nickel sulfide and on nickel as a byproduct of PGE mining in the Bushveld Complex and Great Dyke. Main African nickel deposits Forty-eight out of 547 (or 8.8 percent) of the listed nickel deposits are located in Africa, accounting for 10.3 percent of world resources and 5 percent of world reserves. Of the 48 “primary” deposits, 23 are magmatic deposits (Table 3.43), 16 lateritic, and 2 are sediment-hosted stratiform deposits, with the rest being mines closed or under care and maintenance. The main African “primary” magmatic nickel deposits are listed in Table 3.43, where currently operating mines are shown at the top of the table. Of the 23 primary magmatic nickel deposits listed in Table 3.43 only 3—Nkomati in South Africa, the Selebi-Phikwe mine near Francistown in Botswana that has operated since 1974, and Trojan in Zimbabwe—are currently operating. Figure  3.16 shows the location of nickel deposits in Africa differentiated between “primary” and “byproduct” deposits. Twenty-six out of 29 “byproduct” deposits listed in Table 3.44 are also magmatic, mostly associated with PGM deposits in mafic intrusions, with the other 3 being a sediment hosted stratiform copper deposit, a hydrothermal nickel sulfide deposit in veins intruding Mesoproterozoic sediments and a cobalt-nickel laterite deposit. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 95 TABLE 3.43  Primary non-lateritic nickel mines and undeveloped deposits. Primary Non-Lateritic Operating Nickel Mines and Undeveloped Deposits NAME Country Size Tier Stage Pre-Mining Resource Metals OPERATING MINE Low-MgO association NiS SELEBI-PHIKWE CAMP Botswana Giant 3 Operating 180 Mt @ 0.71% Ni + 0.73% Cu Ni, Cu, Co NKOMATI NI CAMP South Africa Giant 2 Operating 298 Mt @ 0.36% Ni + 0.02% Co Ni, Cu, Cr, Co, Pd, Pt, + 0.14% Cu PGE, Au, Ag TROJAN Zimbabwe Major 3 Operating 40.1 Mt @ 0.87% Ni Ni, Co, Cu, Au UNDEVELOPED DEPOSIT High-MgO association NiS HUNTERS ROAD Zimbabwe Major 3 Feasibility study 36.4 Mt @ 0.55% Ni Ni NTAKA HILL Tanzania Major 3 Pre-feasibility/Scoping 56.3 Mt @ 0.63% Ni + 0.02% Co Ni, Cu, Co, Au, Pt, + 0.11% Cu Pd, Ag MAGOGAPHATE (NICKEL) Botswana Moderate - Advanced exploration 2.38 Mt @ 0.72% Ni + 0.21% Cu Ni, Cu, PGE, Au + 0.53g/t NICKEL HILL Zimbabwe Moderate - Advanced exploration 6 Mt @ 0.6% Ni Ni DAMBA Zimbabwe Moderate - Undeveloped deposit 7.5 Mt @ 1% Ni Ni MITABA SERPENTINITE Zambia Moderate - Advanced exploration [est. 10 to 100 Kt of Ni] Ni Low-MgO association NiS KABANGA NI CAMP Tanzania Giant 2 Feasibility study 61.3 Mt @ 2.08% Ni + 0.16% Co Ni, Cu, Co, Pt, Pd, Au + 0.29% Cu ROK OPTEL South Africa Major 4 Advanced exploration 35 Mt @ 0.3% Ni + 0.2% Cu Ni, Cu, PGE, Co KABANGA MAIN Tanzania Major 3 Feasibility study 9.3 Mt @ 1.22% Ni + 0.2% Cu Ni, Cu, Co, Au, Pt, Pd + 0.11% Co SAMAPLEU Côte d’Ivoire Major - Pre-feasibility/Scoping 121 Mt @ 0.28% Ni + 0.02% Co Ni, Cu, Co, PGE, Au + 0.23% Cu JACOMYNS PAN South Africa Moderate - Advanced exploration 6.84 Mt @ 0.58% Ni + 0.34% Cu Ni, Cu, PGE, Co + 0.31g/t KITGUM-PADER Uganda Moderate - Advanced exploration [est. 10 to 100 Kt of Ni] Ni, Cu, Co SAMAPLEU (OLD) Côte d’Ivoire Moderate - Pre-feasibility/Scoping 2.56 Mt @ 0.51% Ni + 1.6% Cu Ni, Cu, Co, PGE LENTSWE Botswana Moderate - Advanced exploration 1.5 Mt @ 0.7% Ni + 0.4% Cu Ni, Cu, PGE TULI Botswana Moderate - Advanced exploration 5 Mt @ 0.42% Ni Ni, Cu, PGE DIKOLOTI Botswana Moderate - Pre-feasibility/Scoping 4.1 Mt @ 0.7% Ni + 0.5% Cu Ni, Cu, PGE + 1.2g/t PGE Mafic Intrusion-hosted MIBANGO Tanzania Giant 3 Advanced exploration 112 Mt @ 0.82% Ni + 0.05% Co Ni, Co, Cu, PGE, Fe + 0.1% Cu ZEBEDIELA South Africa Giant 4 Pre-feasibility/Scoping 1601 Mt @ 0.25% Ni Ni, Cu, PGE, Fe AKJOUJT SOUTH Mauritania Moderate Advanced exploration [est. 10 to 100 Kt of Ni] Ni, Cu, Co HONDEKLOOF South Africa Moderate Advanced exploration 2 Mt @ 0.71% Ni + 0.2% Cu Ni, Cu, Co + 0.04% Co 96 | MINERAL RESOURCES OF AFRICA FIGURE 3.16  Location of nickel deposits in Africa, differentiated by genetic types. Note: The diameter of symbols reflects the size of individual deposits. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 97 TABLE 3.44  Byproduct nickel deposits in Africa in decreasing size order. BY-PRODUCT Country Overall Size Tier Pre-Mined Resource NICKEL DEPOSIT Mt Ore g/t PGE g/t Au % Co % Cu % Ni kt Ni Operating Mine MOGALAKWENA South Africa Super Giant 1 3487 2.60 0.20e - 0.06e 0.08e 2823e MARIKANA South Africa Super Giant 1 1378 4.38 0.05e - 0.05e 0.09e 1268e NGEZI Zimbabwe Super Giant 2 1062 3.35 0.24 - 0.08 0.11 1158 IMPALA South Africa Super Giant 1 949 5.18 0.13 - 0.05 0.1 947 RUSTENBURG SECTION South Africa Super Giant 1 779 4.40 0.17e - 0.07e 0.11e 881e AMANDELBULT SECTION South Africa Super Giant 1 845 5.04 0.11e - 0.03e 0.06e 544e MODIKWA South Africa Giant 2 508 4.62 0.12e - 0.04e 0.10e 489e UNKI Zimbabwe Giant 3 236 3.91 0.16e - 0.15e 0.15e 361e MOTOTOLO South Africa Major 3 573 4.03 0.07e - 0.02e 0.05e 287e MIMOSA Zimbabwe Giant 3 112 3.27 0.28e - 0.13e 0.17e 184e UNION SECTION South Africa Giant 3 373 4.66 0.05e - 0.02e 0.05e 183e MARULA South Africa Giant 3 148 5.37 0.18 - 0.05 0.09 139 PILANESBERG South Africa Giant 2 435 3.02 0.05 - 0.01 0.03 137 BOU-AZZER (Co) Morocco Major 3 8.3 - 1.36e 1.37 - 0.92e 76e KROONDAL South Africa Giant 3 164 3.23 0.03e - 0.01e 0.02e 33e NAMA - ANOMALY D (Co) Zambia Moderate - 63.9 - - 0.08 0.04 0.03 18 Development/construction   IVANPLATS PLATREEF South Africa Super Giant 2 852 3.15 0.27 - 0.16 0.31 2666 Care & Maintenance  BOKONI South Africa Super Giant 2 552 6.19 0.19 - 0.06e 0.18e 979e LIMPOPO South Africa Giant 4 207 4.02 0.30e - 0.15e 0.22e 456e TWICKENHAM South Africa Giant 3 642 5.59 0.13e - 0.01e 0.02e 456e TWO RIVERS South Africa Giant 2 393 4.47 0.13 - 0.04 0.09 347 CROCODILE RIVER South Africa Giant 4 33.3 2.73 - - 0.02 e 0.05 e 17e Pre-Feas/Feasibility Study WATERBURG South Africa Giant 2 309 3.1 0.24 - 0.1 0.18 542 LESEGO South Africa Giant 3 204 5.95 - - 0.09 0.21 421 BOKAI Zimbabwe Major 3 92.5 3.22 0.38 - 0.17 0.21 189 MPHALELE South Africa Major 4 116 4.85 0.18 - 0.09 0.15 174 BOIKGANTSHO South Africa Major 3 79.2 1.29 0.08 - 0.07 0.11 86 VOLSPRUIT South Africa Major 3 28.2 2.37 0.05 - 0.06 0.18 51 LEEUWKOP South Africa Giant 3 137 6.48 0.03 - 0.01 0.03 42 MAREESBURG South Africa Major 3 15.9 3.92 - - 0.03 0.07 11 (continues) 98 | MINERAL RESOURCES OF AFRICA TABLE 3.44  Byproduct nickel deposits in Africa in decreasing size order. (Continued) BY-PRODUCT Country Overall Size Tier Pre-Mined Resource NICKEL DEPOSIT Mt Ore g/t PGE g/t Au % Co % Cu % Ni kt Ni Advanced Exploration/Undeveloped NKAMOUNA (Co) Cameroon Giant 2 323 - - 0.21 - 0.61 1971 SHEBA’S RIDGE South Africa Giant 3 605 0.93 0.08e - 0.08 0.19 1150 GA-PHASHA South Africa Giant 3 459 5.45 0.2 - 0.06 0.19 853 PHOSIRI PROJECT South Africa Giant 4 105 7.27 - - 0.1 0.16 168 AURORA South Africa Major 3 154 1.36 0.04 - 0.05 0.04 58 MOKOPANI South Africa Moderate - 39.7 0.55 - - 0.09 0.15 58 HENAN ZIMBABWE (Cu) Zimbabwe Moderate - 20 - 0.14 - 1.18 0.09 18 TOTAL 20241 Note 1: All projects have PGE as their primary metal unless indicated next to the project name. Note 2: e = Estimated Grade/Tonnes. Table 3.44 displays all the projects with significant byproduct nickel mineral resources. It will be noted that apart from the very large Nkamouna cobalt-nickel laterite deposit in Cameroon, the bulk of the African nickel resources and production are associated primarily with magmatic PGE deposits, mostly in South Africa and subordinately in Zimbabwe. Examples of African magmatic nickel deposits include: (i) the large Zebidiela primary nickel deposit (indicated resource of 485.4 Mt at 0.245  percent Ni plus inferred resource of 1,115.1 Mt at 0.248 percent Ni), also featuring significant precious metals credits; (ii) the Kabanga nickel sulfide deposit in Tanzania (61.3 Mt at 2.08 percent Ni. 016 percent Co and 0.29 percent Cu; and (iii) the Nkomati nickel (Cu, Cr and PGE) mine in South Africa, where original chromite resources of 6.2 Mt at a grade of 33.5 percent Cr2O3 are now largely mined out, but that still contains a large proportion of its original 298 Mt resources at 0.36 percent Ni, 0.14 percent Cu, 0.85 ppm PGE, supporting multiple open pits and an underground mine. Table 3.44 shows how pre-mining nickel resources as a byproduct of primarily of PGE magmatic deposits at 20.2 Mt of nickel metal are of the same order of magnitude as those of the pre-mining primary magmatic and lateritic resources at 25.8 Mt. It also shows how 15.8 Mt, that is to say 78 percent of the total, are contained in 12 deposits exceeding 0.5 Mt all except one (the giant laterite Nkamouna deposit in Cameroon) associated with PGE-bearing mafic-ultramafic intrusions in South Africa. The MinEx Consulting database contains a total of 18 primary nickel laterite deposits, of which 16 listed in Table 3.45 have aggregated nickel resources of over 13.0 Mt. Although the Sipilou (Côte d’Ivoire) and Musongati (Burundi) nickel laterite deposits contain larger resources, only the Ambatovy deposit of Madagascar has been developed to date and is currently operating successfully. Over its 30-year life, it will produce an average of 60,000 metric tons of refined 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 99 TABLE 3.45  Nickel laterite deposits in Africa. Lateritic Nickel Operating Mines and Undeveloped Deposits NAME Country Size Tier Stage Pre-Mining Resource Metals OPERATING MINE Laterite Associated AMBATOVY Madagascar Giant 2 Operating 282 Mt @ 0.92% Ni + 0.08% Co Ni, Co UNDEVELOPED DEPOSIT Laterite Associated DUTWA Tanzania Giant 3 Feasibility study 117 Mt @ 0.91% Ni + 0.03% Co Ni, Co MUSONGATI Burundi Giant 2 Undeveloped deposit 214 Mt @ 1.35% Ni + 0.07% Co + 0.15% Cu Ni, Cu, Co SIPILOU NI CAMP Côte d’Ivoire Giant 2 Advanced exploration 258 Mt @ 1.48% Ni + 0.11% Co Ni, Co ZANZUI Tanzania Major 4 Advanced exploration 27.1 Mt @ 0.81% Ni + 0.06% Co Ni, Cu, Co, PGE BONGA Burkina Faso Major 4 Undeveloped deposit 17 Mt @ 1.5% Ni + 0.15% Co Ni, Co, Fe ADOLA Ethiopia Major 4 Undeveloped deposit 10.5 Mt @ 1.38% Ni Ni KAKOULIMA (LATERITE) Guinea Major 4 Uneconomic 36.8 Mt @ 0.8% Ni Ni, Cu, Co, Pd, Pt KALIA (NICKEL) Guinea Major 4 Uneconomic 79.3 Mt @ 0.69% Ni + 0.04% Co Ni, Co, Fe GOGOTA Guinea Major 3 Advanced exploration 44.9 Mt @ 1.28% Ni + 0.13% Co Ni, Co, Sc, Fe VALOZORO Madagascar Major 3 Advanced exploration 11.5 Mt @ 1.66% Ni Ni, Co NYABIKERE Burundi Major 4 Advanced exploration 46 Mt @ 1.45% Ni Ni, Fe WAGA Burundi Major 4 Advanced exploration 35 Mt @ 1.38% Ni Ni, Fe BEMAINTY Madagascar Moderate - Undeveloped deposit [est. 10 to 100 Kt of Nickel] Ni, Co HAITO Togo Moderate - Advanced exploration 7.2 Mt @ 0.99% Ni Ni, Co NICKEL VALLEY Madagascar Moderate 4 Advanced exploration [est. 10 to 100 Kt of Ni] Ni, Co, Cr Sediment-Hosted SENTINEL (NICKEL) Zambia Major 3 Feasibility study 46.8 Mt @ 0.96% Ni Ni, Co, Cu KALUMBILA (NICKEL) Zambia Moderate - Undeveloped deposit 3.04 Mt @ 0.67% Ni + 0.1% Cu + 0.2% Co Ni, Co, Cu nickel, 5,600 metric tons of refined cobalt, and 210,000 metric tons of ammonium sulfate fertilizer annually, representing Madagascar’s most important export. Vanadium General characteristics and uses Vanadium (symbol V, atomic number 26, and mass 50.9) is a hard, silvery-gray, malleable transition metal rarely found in nature. It has a natural resistance to corrosion and stability against alkalis, acids and salt water. The main use of vanadium in to make steel alloys of great strength. A recent and growing application is in Vanadium Redox Flow Batteries (VRFBs), a reliable solution for the static storage of renewable energy. It is also used as a catalyst in the manufacture of dyes and printing fabrics and as a ceramic pigment. 100 | MINERAL RESOURCES OF AFRICA Vanadium minerals Vanadium occurs in many minerals, including vanadinite (Pb5(VO4)3Cl), mottramite (lead copper vanadate), and cavansite (hydrous calcium vanadium oxysilicate). However, the main commercial sources of vanadium are as byproducts of titaniferous magnetite and sandstone uranium mining, because of its association with uranium in hydrous potassium uranium carnotite (K2(UO2)2(VO4)2 · 3H2O), and hydrous calcium uranium vanadate tyuyamunite (Ca(UO2)2(VO4)2 · 5 to 8H2O). Vanadium deposit types Vanadium occurs in titaniferous magnetite concentrations in layered mafic igneous rocks (from which it is mined mainly in South Africa), in association with uranium in sandstone deposits exploited in Russia, China, and the USA, and in some phosphate rock deposits. Less significant amounts of vanadium are also recovered from processing of petroleum products. Resources, reserves, and production considerations Because vanadium is recovered from relatively low concentrations in deposits of other commodities, formal resource estimates have not been precisely quantified. The USGS estimates them to be of the order of 63 Mt of vanadium metal, including 2023 reserves of 18 Mt, supporting an annual production rate of 103.8 Kt (Table 3.46). Main African vanadium deposits Table 3.47 lists the significant African vanadium deposits. Of these, two exploiting vanadiferous titano-magnetite, are currently in operation in South Africa, namely the giant Vametco mine and Rhovan mine. The giant SPD Vanadium Project, with just under 600 Mt of ore containing 1.78 percent vanadium pentoxide (V2O5), represents an additional, very important, as yet undeveloped resource of this metal. Battery metals/minerals (lithium, cobalt, graphite) This section covers metals and minerals, demand for which has recently grown rapidly because they are key inputs in the manufacturing of EV batteries. These minerals include lithium, cobalt, and TABLE 3.46  Vanadium reserves and production in the world and in Africa, 2023. Africa Rest of World VANADIUM Reserves 2023 (Kt) Production 2023 (t) Reserves 2023 (Kt) Production 2023 (t) South Africa 750 9,100 Australia 8,500 0 Brazil 120 6,400 China 4,400 68,000 Russian Federation 5,000 20,000 USA 45 0 Africa Total 750 9,100 Rest of world Total 18,065 94,400 As % of World Total 4.0% 8.8% WORLD TOTAL 18,815 103,500 Source: Modified after USGS Mineral Commodity Summaries, 2024. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 101 TABLE 3.47  Main African vanadium deposits. VANADIUM DEPOSITS Country Size Tier Pre-Mining Resource OPERATING MINE Vanadiferous titano-magnetite VAMETCO South Africa Giant 3 180.4 Mt @ 0.77% V2O5 + Fe and Ti RHOVAN South Africa Major 3 187 Mt @ 0.49% V2O5 + Fe and Ti UNDEVELOPED DEPOSIT SPD VANADIUM PROJECT South Africa Giant 3 588 Mt @ 1.78% V2O5 + Fe and Ti BRITS VANADIUM PROJECT South Africa Major 3 1.68 Mt @ 1.5% V2O5 + 51.2% Fe + 11.9% TiO2 OTHER TYPES MUKANDA (Stratiform) Burundi Moderate - 11.893 Mt @ 1.18% V2O5 + Fe and Ti ABENAB (Breccia) Namibia Moderate - 2.8 Mt @ 0.66% V2O5 + Pb and Zn GREEN GIANT (Black shale) Madagascar Moderate - 59.2 Mt @ 6.83% V2O5 + Graphite MOKOPANE VANADIUM (Mafic) South Africa Moderate - 28.5 Mt @ 1.41% V2O5 + Fe and Ti graphite. As already mentioned, other metals such as nickel and manganese are being increasingly used in EV battery manufacturing, but this use is volumetrically very subordinate to the application as alloying metals. Figure 3.17 shows the location of the main African battery minerals and of nickel (already dealt with in the context of ferro alloying metals), together with that of diamond and other gemstone deposits. More detailed maps showing the occurrence and size of individual battery minerals in the world are provided lower in this chapter as they are discussed. Lithium General characteristics and use Lithium (symbol Li, atomic number 3 and mass 6.94) is the lightest alkali metal and solid element in the periodic table. Lithium is soft and silvery-white in color, does not occur in its metallic state in nature and, like all alkali metals, is highly reactive and flammable. Lithium has become an important constituent for the manufacturing of disposable and EV batteries, which are generally referred to as “Li-ion batteries”. It also has significant use in several modern technological applications, such as in mobile phones, nuclear fusion, air purification and specialized alloys and fuel additives for aeronautical use. It also has important medical applications. Lithium minerals The main pegmatitic lithium minerals and their lithium content are listed in Table 3.48, which also provides their mineral types and formulae. Spodumene, with a theoretical lithium content of 3.8 percent, is the most common “hard rock” lithium ore mineral. A typical run of mine ore can contain 1 to 2 percent Li2O, while a typical (75–87 percent) spodumene concentrate suitable for lithium carbonate production contains 6–7  percent Li2O, 102 | MINERAL RESOURCES OF AFRICA FIGURE 3.17  Location of African diamond and other gemstone deposits, and of nickel and other battery minerals including lithium, cobalt, and graphite. Note: The diameter of symbols reflects the size of individual deposits. TABLE 3.48  Chemical composition and lithium content of the main lithium minerals. NAME Type Chemical Formula Li Content Mohs Spodumene Clinopyroxene LiAlSi2O6 3.8% Li 6.5–7.0 Li-Lepidolite Mica KLi2Al(Al,Si3O10)(F,OH)2 3.6% Li 2.5–3.5 Al-Lepidolite Mica K(Li,Al)3(AlSi3O10)(F,OH)2 2.6% Li 2.5–3.5 Zinnwaldite Mica KLiFe2Al(Al,Si3)O12 2.6% Li 2.5–3.6 Petalite Phyllosilicate LiAl(Si4O10) 2.3% Li 6.5 Montebrasite Phosphate LiAl(PO4)(OH) 4.8% Li 5.5–6.0 Amblygonite Phosphate LiAl(PO4)F 4.7% Li 5.5–6.0 Elbaite Tourmaline Na(Li1.5Al1.5)Al6(Si6O18)(BO3)3(OH)3(OH) 1.1% Li 7.5 Eucryptite Aluminosilicate LiAlSiO4 5.6% Li 6.5 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 103 or 2.8 percent to 3.3 percent lithium metal, or 14.9 percent to 17.3 percent lithium carbonate equivalent (LCE). The conversion factors between various lithium products are provided in Table 3.49. Lithium deposit types The main lithium mineral deposits can be essentially subdivided into two types: • “Hard-rock” igneous deposits, where pegmatites are the dominant source of lithium, with greisen deposits hosted in altered granites as a subordinate source. Lithium pegmatite deposits typically range from about 300 Kt at 0.6  percent Li, containing 1800 t of Li, to 700 Mt at 0.8 percent Li, which is equivalent to 5.6 Mt of Li metal. However, grades as low as 0.15 percent Li and as high as 1.5 percent Li have been reported. The most significant pegmatitic deposits tend to be hosted in large individual rather than in swarms of pegmatite veins. Most of the largest lithium-bearing pegmatites seem confined to Precambrian cratons and fold belts, for example, Archean in Western Australia (Greenbushes containing 1.49 Mt of Li metal) and Zimbabwe, and of Proterozoic age, for example, Minanolo-Kitotolo pegmatites in the Democratic Republic of Congo containing 3.1 Mt of Li. This suggests that particularly favorable genetic conditions may have existed at the early stages of crustal evolution. • Brine (salar/salt lake), representing the only viable alternative to mining lithium-bearing pegmatites. As the formation of salars requires closed basins in arid regions and high altitude to enhance evaporation, most of the largest lithium “salars” are found in tropical zones, particularly in the Andean Highlands of Argentina, the Plurinational State of Bolivia, and Chile (Figure 3.18). The formation of salars is also promoted by associated igneous or geothermal activity, aiding leaching of lithium from suitable source rocks and the presence of adequate aquifers for its transport over significant time. Although typically large in surface area, salars are generally very low in grade. The MinEx database contains 25 lithium brine deposits, with total resources of 38.5 Mt of lithium metal. Lithium brines range from about 400 Mt at 0.01 percent Li, equivalent to 40,000 metric tons of Li metal, to 7.5 Bt at 0.15 percent Li, which is equivalent to 11.3 Mt of Li metal. The economic exploitation of some of the salars at such low grades relies on the ability to pump lithium-bearing brines from them and following natural evaporation in ponds, recovering the lithium through chemical precipitation, adsorption with inorganic ion exchange sorbents, or solvent extraction and concentration with membrane technologies. In many instances, lithium- rich “salars” are proximal to active or recent rhyolitic volcanism, which can be considered as the extrusive equivalent of the intrusive lithium-rich granites from which lithium-bearing pegmatites are formed. Rhyolitic tuffs appear to be both particularly rich in lithium and prone to leach easily into the environment, and therefore likely to be a source of lithium for the salars. TABLE 3.49  Lithium content of various lithium products. Li PRODUCT Formula Li Content (%) Metric Tons of Product Per Tons Of Li Spodumene LiAlSi2O6 3.8% 26 Lithium Carbonate Li2CO3 18.8% 5.3 Lithium Hydroxide LiOH 29% 3.4 Lithium Oxide Li2O 46.4% 2.2 104 | MINERAL RESOURCES OF AFRICA FIGURE 3.18  Location of world lithium deposits categorized by genetic type. Note: The diameter of symbols reflects the size of individual deposits on a pre-mined resource basis. In addition, limited resources are contained in subordinate sedimentary and unconventional deposits, primarily brines from oil and geothermal wells. Resources, reserves, and production considerations The MinEx database contains a total of 220 lithium moderate or larger (containing more than 20 Kt lithium) mineral deposits, of which 112 are igneous or “hard rock” and 63 brines, with the rest sedimentary and others. Collectively, these deposits account for a current resource of 144.9 Mt of lithium metal, of which 13.0 Mt have been delineated as proven and probable (P&P) reserves. As is the case for most other commodities, the 2023 “reserves” estimate made by in the USGS’s “Lithium” Mineral Summary 2024 (28.0 Mt) is larger than the MinEx’s estimate. In addition, the USGS’s figure does not include the significant initial resource announced by AVZ Minerals Ltd for their Manono Kititolo project in the Democratic Republic of Congo. At the time of writing, this stood at 674 Mt at 1.66 percent Li2O or 0.77 percent Li metal, with tin and tantalum credits. Table 3.50 differentiates the resources by the type of Lithium deposit—brine, hard rock, or sedimentary in nature. Figure  3.18 displays the location of all lithium deposits in the world and clearly shows how “hard rock” deposits are concentrated in Australia and Africa, and salar/salt lake deposits in South America, particularly in Chile, Argentina, and the Plurinational State of Bolivia. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 105 TABLE 3.50  Lithium mineral resources in the world and in Africa, broken up by deposit types. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (Mt Li) Resource (Mt Li) Reserves (Mt Li) Reserves (Mt Li) LITHIUM World Brine 63 61.4 61.8 2.4 - Igneous 112 40.3 33.9 8.8 - Sedimentary 26 27.0 27.4 1.8 - Other 19 13.3 12.9 0.0 - Byproduct na 9.0 8.9 0.0 - Total 220 151.0 144.9 13.0 28.0 Africa Brine 0 0.0 0.0 0.0 - Igneous 16 8.6 6.1 2.1 - Sedimentary 1 0.1 0.1 0.0 - Other 0 0.0 0.0 0.0 - Byproduct na 0.0 0.0 0.0 - Total 17 8.6 6.2 2.1 na Africa as % of World Total 7.7% 5.7% 4.3% 15.9% - Note: MI&I is for measured, indicated and inferred. P&P is proven and probable. Figure 3.19 displays the current tonnage versus lithium percentage grades combination of all known lithium deposits throughout the world, differentiated between those occurring in Africa and in the rest of the world, broken up into pegmatite, salars, and other deposit types. Seventeen out of the 220 world deposits are in Africa, with all deposits being of the hard rock type. The relatively current low world proportion of total African lithium resources (4.3 percent) reflects the immaturity of this industry, and conceals what is considered to be a very significant future potential. Currently, as shown in Table 3.50, the African reserves of lithium total only 2.1 Mt, representing less than 15.9 percent of total world reserves. As discussed later in greater detail, it is likely that, asides from minor reserves (0.3 Mt) in Zimbabwe (listed in the USGS 2023 reserve estimates) and of around 0.2 Mt in Namibia (not currently listed in 2023 USGS reserve estimate), the Democratic Republic of Congo’s current resources/reserves of 674 Mt at 0.77 percent Li do not appear to having been captured by the USGS estimates. Time will without doubt reveal that the total African figure only represents a small proportion of the potentially enormous resources which are likely to be present in the extensive pegmatite districts of the Democratic Republic of Congo. From the point of view of production, Table 3.51 shows how six hard rock operations in Australia, two brine operations each in Argentina and Chile, and one brine and one hard rock operation in China accounted for the vast majority of world lithium production, amounting to 163,000 metric tons of lithium metal. The fifth in line was Zimbabwe, a traditional lithium producer for over 60 years, with 3,400 metric tons of lithium metal. African production has potential for significant increases, once the high-grade lithium deposits in the Democratic Republic of Congo and Mali are developed, 106 | MINERAL RESOURCES OF AFRICA FIGURE 3.19  World lithium deposits tonnages and grades, differentiated by type and whether located in Africa or in the rest of the world (ROW). TABLE 3.51  Lithium reserves and production in the world and in Africa, 2023. Africa Rest of World LITHIUM Reserves 2023 (t Li) Production 2023 (t Li) Reserves 2023 (t Li) Production 2023 (t Li) Congo, Dem. Rep. Potentially very large Australia 6,000,000 86,000 Zimbabwe 310,000 3,400 Chile 9,300,000 44,000 Others (est.) na 3,864 Argentina 3,600,000 9,600 China 3,000,000 33,000 USA 1,100,000 na Canada 930,000 340 Brazil 390,000 4,900 Portugal 60,000 380 Others 2,800,000 na Subtotal 310,000 7,264 ROW Total 27,180,000 174,356 As % of Total na 4.0% 98.9% 96.0% TOTAL 27,490,000 181,620 Source: Modified from the USGS Mineral Commodity Summaries, 2024. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 107 provided the logistic and economic challenges of transporting their spodumene concentrates to a port of export can be improved or, local processing facilities are established. Main African lithium deposits All current lithium resources in Africa (Figure 3.18) are of igneous type, more particularly pegmatite- hosted. Although extensive potash-bearing evaporites occur in the Danakil depression of Ethiopia and Eritrea, to date no lithium resources have been reported. Table 3.52 lists all the African lithium pegmatite deposits, separated between operating mines and undeveloped deposits, and in decreasing order of contained lithium metal resources. Of these, only the Bikita pegmatite of Zimbabwe, the Titan in Nigeria and the Rubicon and Helicon in Namibia are currently operating, although production from the last two has been modest and intermittent. Of the listed deposits, the Manono-Kitotolo deposit—including 6 large and swarms of smaller spodumene-bearing pegmatites, outcropping intermittently over 13.5 kilometers and averaging TABLE 3.52  Main African lithium pegmatite deposits in order of decreasing size. LITHIUM DEPOSIT Country Size Tier Pre-Mining Resource Metals OPERATING MINE Pegmatite BIKITA Zimbabwe Major 3 152 Mt @ 0.42% Li Li, Ta, Sn, Cs TITAN (LITHIUM) - ARTISANAL Nigeria Moderate - [est. 20 to 200 Kt of Li] Li RUBICON AND HELIKON Namibia Moderate - 12 Mt @ 0.22% Li + 1.85% K2O Li, Ta, REE, N UNDEVELOPED DEPOSIT Pegmatite MANONO-KITOTOLO Congo, Dem. Rep. Super-Giant 1 674 Mt @ 0.77% Li Li, Nb, Ta, Sn GOULAMINA Mali Giant 2 211 Mt @ 0.64% Li Li, Fe UIS (LITHIUM COMPONENT) Namibia Major 3 143 Mt @ 0.15% Li Li, Sn, Ta ARCADIA Zimbabwe Major 2 72.7 Mt @ 0.5% Li Li, Ta OMARURU Namibia Moderate - [est. 20 to 200 Kt of Li] Li, Ta, Cs LOCATION 6 Nigeria Moderate - [est. 20 to 200 Kt of Li] Li, Ta, Cs STEP ASIDE Zimbabwe Moderate - [est. 20 to 200 Kt of s Li] Li, Ta KARIBIB Namibia Moderate - 13.6 Mt @ 0.2% Li + 1.92% K2O Li, Rb, Cs, Ta ZULU Zimbabwe Moderate - 24.8 Mt @ 0.21% Li Li, Ta, Nb, W BOUGOUNI Mali Moderate 3 32 Mt @ 0.49% Li Li, Au EWOYAA Ghana Moderate 3 35.3 Mt @ 0.58% Li Li Sedimentary BITTERWASSER Namibia Moderate - 98.9 Mt @ 0.06% Li + 1.56% K2O Li, K Tailings BUCKELL Congo, Dem. Rep. Moderate - 12.1 Mt @ 0.28% Li Li, Sn, Ta KAMATIVI Zimbabwe Moderate - 18.2 Mt @ 0.58% Li Li, Sn, Ta 108 | MINERAL RESOURCES OF AFRICA 200 to 400 meters in width—is by far the most important. The Carriere de l’Este and the Roche Dure Pegmatite are each similar in size if not larger than the Greenbushes Pegmatite in Western Australia, with reserves of 400 Mt at 1.66 percent Li2O having recently been delineated in the latter. Given the enormous size of this pegmatitic system, it has been estimated that resources in the order of 1.1 Bt of spodumene may be present to a depth of 285 meters. The Goulamina pegmatite swarm—which intrudes into the Proterozoic Birimian complex in the southern part of Mali, with delineated resources of 211 Mt of ore grading 0.64 percent Li—is also very promising. As for the Manono-Kitotolo pegmatite, Mali is a landlocked country and as a consequence, high tonnages of relatively low-grade concentrates will need to be trucked overland cross-border to the nearest ports. This will add significantly to the fob cost of concentrate production and affect the commercial competitiveness of these deposits, making the possibility of establishing local processing facilities a consideration in their feasibility. On the redeeming side, evolving spodumene processing technology now allows for lithium-hydroxide (LiOH ) (which is becoming the main input in battery manufacturing) to be produced directly from spodumene concentrates. LiOH is the preferred input for nickel-cobalt-aluminum (NCA) and nickel-manganese-cobalt (NMC) lithium-ion batteries, whereas Li2CO3 remains the preferred input for lithium-iron-phosphate (LFP) batteries. The latter are popular in China, but their production is set to fall in relative importance in comparison to NMC batteries (Globe Newswire, 2020). Cobalt General characteristics and uses Cobalt (symbol Co, atomic number 27 and mass 58.93) is one of the ferromagnetic metals of Group 9 of the periodic table. Cobalt is hard and silvery-white in color and does not occur in its metallic state in nature. However, it may substitute for transition metals in many minerals where it is commonly found in place of iron and nickel, with which it shares many similar chemical properties. Cobalt minerals Cobalt is present in a vast range of minerals. Those listed in Table 3.53 are the most commercially significant. TABLE 3.53  Main cobalt ore minerals. Cobalt Mineral Formulae Cobaltite CoAsS Erythrite Co3(AsO4)2 · 8H2O Skutterudite CoAs3 Carrollite Cu(Co,Ni)2S4 Linnaeite (Co,Ni)2(Co,Ni,Fe,Cu)S4 Asbolite (Ni,Co)1 − xMn1 + x(O,OH)4 · nH2O 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 109 The arsenides erythrite and skudderudite, together with the sulfide linnaeite, occur in the primary cobalt deposits of North Africa, while carrollite is common in the Zambia and Congo copperbelts. Cobalt deposit types From a production point of view, cobalt deposits can in the first instance be classified based on whether cobalt minerals occur as: • the “primary” or main coproduct (17 deposits), or as a • “byproduct” associated to mining of other main mineral commodities, typically copper or nickel (319 deposits). Furthermore, from a geological genetic point of view, irrespective of whether “primary” or “byproduct”, cobalt deposits fall within one of the following five types: • Sediment hosted: As already discussed in the copper section, copper and cobalt were leached and transported from clastic “red beds” sediments under oxidizing conditions during diagenesis and/or through hydrothermal processes and precipitated along oxi-reduction fronts in anoxic near-shore or saline lagoon, where sea water sulfates were reduced to sulfides. The main metallogenic epochs for copper cobalt sediment-hosted deposits are the Upper Proterozoic (1500 to 600 Ma), during which the extensive Central African Copperbelt and the Australian Mount Isa deposits were formed, and the Permian and Triassic periods (300 to 200 Ma), with the formation of the Kupferschiefer (German for Copper Shale) deposits in Germany and Poland. • Hydrothermal and volcanogenic: A great variety of cobalt-bearing vein deposits fall within this broad group, sharing the common genesis of having been precipitated from hydrothermal fluids flowing through and being captured in the host rock. This class of deposits is often associated with volcanic activity. Aside from vein deposits, cobalt may also occur as metasomatic replacement of host rocks. The group includes the following deposits: — Ophiolite-hosted massive sulfide: Outokumpu district and Keretti, Finland; Deemi, China. — Ophiolite-related cobalt arsenide: Bou Azzer, Morocco. — Epigenetic Au-Co-U-bearing sulfides: Kuusamo, Finland; Great Bear Magmatic zone, Canada. — Epigenetic Cu-Au-Co: Idaho Cobalt Belt, USA; Greenmount, Australia. — Iron oxide-hosted polymetallic: Olympic Dam, South Australia; NICO and Sue-Dianne, Canada. • Magmatic sulfides: Cobalt invariably occurs as a byproduct in magmatic nickel, cobalt, and PGE sulfide deposits. They can be intrusive at the base (Norilsk, Russia)—occuring as discrete sulfide layers and disseminations in large mafic to ultramafic complexes, such as the stratabound deposits of the Merensky Reef in South Africa—or extrusive, where sulfides occur as massive or densely disseminated lenses at the base of komatiitic lava flows, as for instance in the Kambalda deposits of Western Australia and Sudbury in Canada. • Cobalt is an important byproduct of most Ni laterite deposits in the world. As already discussed in Chapter 3, laterite nickel-cobalt deposits form by intensive weathering of ultramafic rocks 110 | MINERAL RESOURCES OF AFRICA (particularly serpentinized peridotites), exposed to long periods of warm and humid tropical climate, as for instance during the Mid-Tertiary period. Lateritization—which often reaches depths in excess of 100 meters—dissolves nickel, cobalt and other metals contained in sulfides and silicates, and concentrates and redeposits them at various levels in the lateritic profile as various forms of hydroxides and oxides. Typical laterite deposits are Nkamouna, Cameroon; Koniambo Massif, New Caledonia; Mindoro, Philippines; and Murrin Murrin, Australia. • Cobalt-rich manganese nodules and incrustations: Nodules rich in manganese, cobalt (up to 1—2.5 percent Co), and nickel form over hundreds of square kilometers of deep (approximately 5 kilometers) ocean floors in proximity to mid-ocean ridges, suggesting a volcanogenic origin. Cobalt-rich crusts form at shallower depth along the flanks of seamounts, possibly due to bacterial activity. Although the amount of cobalt contained in marine nodules and crusts is probably comparable to all the on-shore cobalt resources, technical, political or ownership, and environmental considerations have prevented exploitation to date. Resources, reserves, and production considerations The MinEx Consulting database (Table 3.54) contains a total of 20 primary cobalt mineral deposits throughout the world of “moderate” size or larger (that is, containing more than 5 Kt of cobalt metal). Collectively, these deposits account for a mere total resource—that is, including MI&I resources—of 1.8 Mt of Co metal. The world cobalt resources, however, excluding the vast resources (over 120 Mt ) in manganese nodules and crusts on the floor of the Atlantic, Indian, and Pacific Oceans, rise significantly when incorporating cobalt as a potential byproduct of mining and processing of other metals. This brings the total to 30.5 Mt, of which 6.2 Mt have been delineated as P&P reserves. The vast majority of byproduct cobalt resources, as shown in Figure 3.20, are contained in sediment- hosted stratiform copper deposits in the Democratic Republic of Congo and Zambia; nickel-bearing laterite deposits in Australia and nearby island countries, and in Cuba; and magmatic nickel-copper TABLE 3.54  Cobalt resources in the world and in Africa, broken down by those sourced from primary deposits and byproducts. Number of Pre-Mined Resource Current MI&I Current P&P USGS 2023 Deposits (Mt Co) Resource (Mt Co) Reserves (Mt Co) Reserves (Mt Co) COBALT World Primary 20 2.23 1.78 0.31 na Byproduct na 33.32 28.75 5.89 na Total 20 35.56 30.53 6.20 11.0 Africa Primary 10 1.69 1.51 0.29 na Byproduct na 16.98 13.92 3.87 na Total 10 18.67 15.43 4.16 6.1 Africa as % of World Total 50.0% 52.5% 50.5% 67.1% 55.5% Note: Seabed nodules and rusts excluded. MI&I is for measured, indicated and inferred. P&P proven and probable. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 111 FIGURE 3.20  Location of world cobalt deposits categorized by genetic types. Note: The diameter of symbols reflects the size of individual deposits on a pre-mined resource basis. sulfide deposits hosted in mafic and ultramafic rocks in Australia, Canada, Russia, and the United States. Figure 3.20 also differentiates between cobalt that is associated with mining of sulfide and lateritic Ni deposits. As usual, the MinEx database “reserve” figure of 11.0 Mt is somewhat lower than the 2023 “reserves” estimate made by in the USGS’s “Cobalt” Mineral Summary 2024 (Table 3.55), because the latter uses a different definition of reserves, going beyond the strictly JORC-compliant P&P categories. Very few cobalt deposits are “primary” in the strict meaning of the word. In our context, most “primary” deposits feature cobalt as the most important co-product relative to other metals produced. With the price of cobalt having increased significantly and in a volatile fashion in recent times, many Cu-Co deposits become Co-Cu deposits and vice versa. Although 10 out of 20 or 50  percent of the listed deposits are located in Africa, they account for 50.5 percent of resources and 67.1 percent of world reserves, which is a testimony to the importance of the continent in the context of this commodity. Figure  3.21 (a) provides a log-log plot of the distribution of the pre-mining tonnage and grade of primary cobalt deposits in the world broken up in terms of their genetic origins (whether sediment- hosted, igneous or lateritic), and distinguishing between deposits located in Africa and in the rest 112 | MINERAL RESOURCES OF AFRICA TABLE 3.55  Cobalt reserves and production in Africa and in the rest of the world, in metric tons of cobalt metal, 2023. Africa Rest of World Reserves 2023 Production 2023 Reserves 2023 Production 2023 COBALT (t Co) (t Co) (t Co) (t Co) Congo, Dem. Rep. 6,000,000 170,000 Australia 1,700,000 - Madagascar 100,000 4,000 Canada 230,000 2,100 Morocco na 2,300 Cuba 500,000 3,200 Indonesia 500,000 17,000 New Caledonia na 3,000 Papua New Guinea 49,000 2,900 Philippines 260,000 3,800 Russian Federation 250,000 8,800 Türkiye 91,000 2,800 USA 69,000 500 Others 780,000 0 Africa Total 6,100,000 176,300 ROW Total 4,429,000 - As % of Total 57.9% 78.4% As % of Total 42.1% 21.6% WORLD TOTAL 10,529,000 225,000 Source: Modified after USGS’s Mineral Commodity Summaries, 2024. of the world (ROW). The graph highlights Africa’s world dominance in terms of both tonnages and grades, noting that in the igneous category, the relatively low grades reflect cobalt as a byproduct primarily of PGE mines. From the point of view of production, Table 3.55 shows how Africa—with 176 thousand metric tons of cobalt metal—dominated production, accounting for the vast majority (78.4 percent) of world new cobalt supply. Main African cobalt deposits The African cobalt deposits include 10 “primary” deposits and 62 deposits where cobalt is a byproduct in mines producing other main primary metals (mainly copper and nickel), both magmatic sulfide and laterite. The distribution of cobalt resources among these types of deposits is summarized in Table 3.56. Table 3.57 displays the size of all the African “primary” deposits in terms of contained cobalt metal resources in descending order, as well as the type of deposit and related metal association. The largest deposit is the cobalt-nickel Nkamouna laterite deposit in Eastern Cameroon. Containing 0.8  Mt of metal, this is by far the largest primary cobalt deposit in Africa. Its estimated 323 Mt of mineral resources have average grades of 0.21 percent Co, 0.61 percent Ni, and 1.35 percent manganese. Annual production is eventually expected to average 6,100 metric tons of cobalt, 3,300 metric tons of nickel 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 113 FIGURE 3.21  (a) (b) Log-log graph of tonnages and grades of cobalt for primary deposits (a) and as byproduct (b), broken up by genetic types, showing deposits located in Africa and in the rest of the world (ROW). 114 | MINERAL RESOURCES OF AFRICA TABLE 3.56  Distribution of African cobalt resources between primary and byproduct sources. TYPE Number of Deposits Current MI&I Resource (Mt Co) Primary Co deposits 10 1.51 Co as byproduct of: Sediment-hosted stratiform Cu deposits 32 12.69 Magmatic Ni deposits 23 0.42 Ni laterites 8 0.80 Other 2 0.01 TOTAL 75 15.43 TABLE 3.57  Primary cobalt deposits in decreasing size order (metric tons of contained cobalt metal). MINE NAME Country Size Tier Pre-Mining Resource Metals OPERATING MINE Sediment-hosted stratiform BOSS Congo, Dem. Rep. Major 3 129 Mt @ 0.24% Co + 2.15% Cu Co, Cu PUMPI Congo, Dem. Rep. Major 2 82 Mt @ 0.17% Co + 0.95% Cu Co, Cu NAMA - ANOMALY D (OXIDE) Zambia Moderate - 63.9 Mt @ 0.08% Co + 0.03% Ni Co, Cu, Ni Hydrothermal BOU-AZZER Morocco Major 3 8.3 Mt @ 1.38% Co + 0.92% Ni Co, Ni, Au, Ag, As UNDEVELOPED DEPOSIT Sediment-hosted stratiform NAMA - ANOMALY A (OXIDE) Zambia Moderate - 43.7 Mt @ 0.05% Co + 0.1% Cu Co, Cu, Ni KISANKALA Congo, Dem. Rep. Moderate - 5.4 Mt @ 0.47% Co + 1.01% Cu Co, Cu KABOLELA (Old) Congo, Dem. Rep. Moderate - 4 Mt @ 2.38% Co + 4.84% Cu Co, Cu VHMS OPUWO Namibia Major 3 226 Mt @ 0.11% Co + 0.43% Cu Co, Cu, Zn Laterite NKAMOUNA Cameroon Giant 2 323 Mt @ 0.21% Co + 0.61% Ni Co, Ni, Mn Unspecified STRYDPOORT MOUNTAINS South Africa Major 3 40 Mt @ 0.2% Co + 0.35% Cu Co, Cu, Au, U3O8 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 115 and 63,000 metric tons of manganese over its 23 years life of mine (LoM). Sediment-hosted stratiform deposits in association with Cu (in the Zambian and Congo Copperbelts) follow, with hydrothermal vein deposits (Bou-Azzer in Morocco) next. It must be noted, however, that as discussed later, sediment- hosted stratiform deposits are dominant in terms of total—that is, primary and byproduct—current cobalt resources and production. Similar information concerning the 65 cobalt “byproduct” deposits is provided in three separate tables covering the various deposit types, for example, sediment-hosted Cu deposits (Table 3.58), magmatic Ni-Cu (Table 3.59), and lateritic nickel deposits (Table 3.60). TABLE 3.58  Sediment-hosted copper deposits with significant cobalt as a byproduct. NAME Metals Nation Cobalt (t) TENKE FUNGURUME Cu, Co Congo, Dem. Rep. 3086470 MUTANDA Cu, Co Congo, Dem. Rep. 2904000 KAMOTO Cu/Co OPERATION Cu, Co, U3O8 Congo, Dem. Rep. 2248300 KISANFU Cu, Co Congo, Dem. Rep. 584000 NKANA (ROKANA) DIVISION Cu, Co, U3O8 Zambia 568090 KANSUKI Cu, Co Congo, Dem. Rep. 521040 DEZIWA Cu, Co Congo, Dem. Rep. 398700 KAKANDA PROJECT Cu, Co Congo, Dem. Rep. 329663 MUFULIRA Cu Zambia 287800 DILALA EAST Cu, Co Congo, Dem. Rep. 287000 KALUKUNDI Cu, Co Congo, Dem. Rep. 253744 CHAMBISHI Cu, Co, Au Zambia 148900 LUISHIA Cu, Co, Au, U3O8 Congo, Dem. Rep. 110000 NCHANGA Cu, Co Zambia 88473 RUASHI-ETOILE Cu, Co Congo, Dem. Rep. 75900 LUISWISHI Cu, Co, U3O8 Congo, Dem. Rep. 62903 KAMFUNDWA Cu, Co Congo, Dem. Rep. 53900 LUISHIA SOUTH Cu, Co, Au, U3O8 Congo, Dem. Rep. 46000 KIPOI Cu, Co, Ag Congo, Dem. Rep. 43700 KALONGWE Cu, Co Congo, Dem. Rep. 42700 BALUBA CENTRE Cu, Co Zambia 29500 KABOLELA Cu, Co, PGE, Au Congo, Dem. Rep. 24800 LUANSHYA (ROAN ANTELOPE) Cu, Co Zambia 23963 KALUMBILA (NICKEL) Ni, Co, Cu Zambia 6080 LUPOTO Cu, Co, Au, U3O8 Congo, Dem. Rep. 6000 KIPUSHI MINE Cu, Zn, Mo, Ag, Pb, Ge Congo, Dem. Rep. 622 Total 12,232,248 116 | MINERAL RESOURCES OF AFRICA TABLE 3.59  Magmatic and volcanogenic nickel-copper deposits with significant cobalt as a byproduct. NAME Metals Nation Cobalt (t) TENKE FUNGURUME Cu, Co Congo, Dem. Rep. 3,086,470 MUTANDA Cu, Co Congo, Dem. Rep. 2,904,000 KAMOTO Cu/Co OPERATION Cu, Co, U3O8 Congo, Dem. Rep. 2,248,300 KISANFU Cu, Co Congo, Dem. Rep. 584,000 NKANA (ROKANA) DIVISION Cu, Co, U3O8 Zambia 568,090 KANSUKI Cu, Co Congo, Dem. Rep. 521,040 DEZIWA Cu, Co Congo, Dem. Rep. 398,700 KAKANDA PROJECT Cu, Co Congo, Dem. Rep. 329,663 MUFULIRA Cu Zambia 287,800 DILALA EAST Cu, Co Congo, Dem. Rep. 287,000 KALUKUNDI Cu, Co Congo, Dem. Rep. 253,744 CHAMBISHI Cu, Co, Au Zambia 148,900 LUISHIA Cu, Co, Au, U3O8 Congo, Dem. Rep. 110,000 NCHANGA Cu, Co Zambia 88,473 RUASHI-ETOILE Cu, Co Congo, Dem. Rep. 75,900 LUISWISHI Cu, Co, U3O8 Congo, Dem. Rep. 62,903 KAMFUNDWA Cu, Co Congo, Dem. Rep. 53,900 LUISHIA SOUTH Cu, Co, Au, U3O8 Congo, Dem. Rep. 46,000 KIPOI Cu, Co, Ag Congo, Dem. Rep. 43,700 KALONGWE Cu, Co Congo, Dem. Rep. 42,700 BALUBA CENTRE Cu, Co Zambia 29,500 KABOLELA Cu, Co, PGE, Au Congo, Dem. Rep. 24,800 LUANSHYA (ROAN ANTELOPE) Cu, Co Zambia 23,963 KALUMBILA (NICKEL) Ni, Co, Cu Zambia 6,080 LUPOTO Cu, Co, Au, U3O8 Congo, Dem. Rep. 6,000 KIPUSHI MINE Cu, Zn, Mo, Ag, Pb, Ge Congo, Dem. Rep. 622 TOTAL 12,232,248 Around 50 percent of world cobalt production is derived as a coproduct or byproduct of sediment- hosted copper deposits. Copper and cobalt are associated with dolomitic carbonates, black shales, and sandstones deposited in extensive near-shore lagoons, or with sabkas overlying oxidized clastic sediments. The main metallogenic epochs for copper-cobalt sediment-hosted deposits are the Upper Proterozoic (1,500 to 600 Ma), during which the extensive Central African Copperbelt was formed. The Central African Copperbelt, which stretches over 500 kilometers from the Zambian Copperbelt in the southeast to the Congo Copperbelt to the northwest in the Democratic Republic of Congo, contains a large number of copper-cobalt deposits, some of which are giant in size. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 117 TABLE 3.60  Nickel laterite deposits with significant cobalt as a byproduct. NAME Metals Nation Cobalt (Metric tons) SIPILOU NI CAMP Ni, Co Côte d’Ivoire 285,000 AMBATOVY Ni, Co Madagascar 209,300 MUSONGATI Ni, Cu, Co Burundi 148,000 GOGOTA Ni, Co, Sc, Fe Guinea 58,357 KALIA (NICKEL) Ni, Co, Fe Guinea 34,610 DUTWA Ni, Co Tanzania 28,812 BONGA Ni, Co, Fe Burkina Faso 25,500 TOTAL 789,579 Despite having been mined continuously for over 100 years, the Copperbelt is still estimated to contain about 16.9 Mt of cobalt metal, or about 40.6 percent of the total current world cobalt resources. Just three deposits in the Congo Copperbelt—namely the giant Tenke Fungurume, Mutanda and Kamoto, with resources of 2 to 3 Mt of cobalt metal each—account for a total of 8.2 Mt of cobalt metal, or about 27 percent of the world total cobalt resources. In recent years Mutanda, has been the largest producer (27,000 plus metric tons of cobalt per annum), ahead of Tenke Fungurume (approximately 18,500 metric tons) and Kamoto (approximately 11,000 metric tons plus). Table  3.59 lists all the African magmatic deposits containing significant amounts of cobalt as a byproduct. The majority are Ni and PGE deposits hosted in mafic and ultramafic intrusions, mostly located in the Bushveld Complex of South Africa and Tanzania, and subordinately volcanogenic polymetallic deposits. Given its high cobalt grade, the Nkamouna cobalt-nickel-manganese deposit in Eastern Cameroon has already been included among the “primary” cobalt deposits listed in Table 3.57. Although the database contains only seven nickel-cobalt laterite deposits containing appreciable quantities of byproduct cobalt, their aggregate cobalt content is very significant. This group of deposits includes the only nickel-cobalt laterite deposit currently sustaining a successful mining operation in Madagascar, namely the Ambatovy mine. Graphite General characteristics and uses Graphite is a naturally occurring, hexagonal black crystalline form of the element carbon (C), and is the most stable form of carbon under standard conditions. It is also light, soft, greasy and cleavable, and an excellent conductor of electricity and heat. Graphite can withstand extreme temperatures and is highly chemically inert. Traditionally, graphite has been used to manufacture pencils, as a lubricant, in car brakes and clutches, as a refractory, and in paints. Graphite can be converted into graphene sheets for use in manufacturing strong and light-weight sporting equipment, and in the aeronautical industry. 118 | MINERAL RESOURCES OF AFRICA A more recent and fast-growing use is in the electrical and electronic industries, particularly in the manufacturing of EV batteries. Here, graphite is an essential and unreplaceable input in the manufacturing of the anodes of all types of these batteries. Graphite minerals From a textural point of view, graphite products can be classified into: • Natural graphite including, — microcrystalline graphite commercially referred to as “Amorphous graphite”. In the majority of cases, impurities are intermingled within the fine particles of graphite and the graphite content is variable (from 30 to more than 90  percent). As a result, the use of amorphous graphite, while significant in terms of aggregated tonnages, is limited to lubricants and a few other uses where low crystallinity and high ash content are not impediments. • Crystalline, which on the basis of texture includes • flakes of various sizes frequently found as disseminations in a variety of host rocks. They most frequently reach economic concentrations, generally of the order of 2 to 3 percent but occasionally up to 15  percent or more, in graphitic schists, paragneiss and marbles. Flake graphite is generally further classified in terms of the size of the flakes (as shown in Table 3.61), with the price increasing with size. Medium to jumbo flake blends are traditionally used in steelmaking, iron casting, foundries, automotive parts and lubricants. Small sizes (that is, -100 US mesh) are the preferred feed stock for the production of spherical graphite, the main input in the manufacturing anodes for application in EV batteries, because the smaller size offers a larger surface area and high density, both of which increase storage capacity. The fine, natural flake graphite is milled to produce spherules; these are then chemically purified to over 99.95 percent fixed carbon content and finally carbon coated. Some flake graphite deposits are associated with economically significant quantities of vanadium often contained in micaceous minerals such as roscoelite, with vanadium pentoxide in some cases recovered as a byproduct. TABLE 3.61  Purity and size characteristics of common graphite products. GRAPHITE PRODUCT Purity (%) TGC Mesh Size Flake Size Fraction (mm) Jumbo 96-98% 48 >300 Large 94-97% 32 180 to 300 Medium 94-97% 20 150 to 180 Small 94-97% 100 75 to 150 Amorphous 80-85% −200 <75 Vein 98% na Synthetic 99.95% Note: TGC stands for total graphite content. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 119 • Vein graphite: Lump and chips of graphite, 0.5 to 1 centimeter in size, are derived from stockworks of generally narrow veins occurring in skarns adjacent to intrusions. In spite of their high grades, vein deposits support less than 1 percent of world graphite production. • Powder/dust. • Synthetic graphite is a manufactured product made by high-temperature treatment of amorphous carbon but highly graphitizable feedstock, as for example calcined petroleum coke and coal tar pitch. Synthetic graphite is used in many applications including friction, foundry, electrical carbons, fuel cell bipolar plates, coatings, electrolytic processes, corrosion products, conductive fillers, rubber and plastic compounds, and drilling applications. Graphite deposit types All deposits of natural graphite formed as the consequence of various degrees of metamorphism. The genesis of graphite is a two-stage process starting with carbonization of the original organic matter during diagenesis when hydrogen and oxygen are driven out, followed by graphitization under higher metamorphic temperature and pressure. Microcrystalline deposits were formed when coal seams were subject to relatively low levels of contact or regional metamorphism up to greenschist facies. By contrast, coarser flake and vein-type graphite formed under much higher amphibolite to granulite metamorphic conditions. Resources, reserves, and production considerations The MinEx database contains a total of 83 graphite mineral deposits throughout the world of “moderate” size or larger (containing more than 0.5 Mt of graphite) (Table 3.62). Collectively, these deposits account for a total current resource of 576 Mt of graphite. Of these, 301 Mt have been classified as reserves, including both “amorphous” and crystalline graphite, by the USGS (2020), as shown in the country break up in Table 3.63. Although Türkiye leads the world in terms of graphite reserves, it is a relatively small producer compared to China and Brazil, featuring about 20 percent less reserves. TABLE 3.62  Graphite resources in the world and in Africa, broken up by flake and amorphous. Number of Pre-Mined Current MI&I Current P&P USGS 2023 CATEGORY Deposits Resource (Mt Cg) Resource (Mt Cg) Reserves (Mt Cg) Reserves (Mt Cg) World Flake 95 786.6 682.3 est. 68.1 na Amorphous 14 140.9 114.3 est. 0.5 na Total 109 927.5 796.6 est. 68.7 280.0 Africa Flake 25 447 444 est. 39.7 na Amorphous 1 12.7 12.7 est. 0.0 na Total 26 459.6 457.1 est. 39.7 67.0 Africa as % of world total 24% 50% 57% 58% 24% Note: Based on deposits containing a pre-mined resource of less than 0.6 Mt of Cg. 120 | MINERAL RESOURCES OF AFRICA TABLE 3.63  Graphite reserves and production in Africa and in the rest of the world. Africa Rest of World COUNTRY/REGION Reserves 2023 (t) Production 2023 (t) Reserves 2023 (t) Production 2023 (t) Tanzania 18,000,000 6,000 China 78,000,00 1,230,000 Mozambique 25,000,000 96,000 Brazil 74,000,000 73,000 Madagascar 24,000,000 100,000 Canada 5,700,000 3,500 India 8,600,000 11,500 Russia 14,000,000 16,000 Ukraine 9,900,000 2,000 Norway 600,000 7,200 Mexico 3,100,000 2,000 Korea, S 1,800,000 27,000 Korea, N 2,000,000 8,100 Vietnam 7,600,000 500 Sri Lanka 1,500,000 2,200 Turkey 6,900,000 2,000 Austria 500 Germany 150 Other 200 Africa Total 67,000,000 202,000 ROW Total 213,700,000 1,385,850 As percentage of total 23.9% 12.7% 76.1% 87.3% WORLD TOTAL 280,700,000 1,587,850 Source: Modified after USGS’s Mineral Commodity Summaries, 2024. Of the 83 deposits, 24 are located in Africa, accounting for 59 percent of the world graphite resources. This is testimony to the growing importance of African graphite deposits to the world. Figure 3.22 displays the geographical distribution of graphite deposits throughout the world, clearly emphasizing the importance of the East African endowment as a major source of supply. Expectations of increasing demand driven by the EV battery industry over the last decade have resulted in a flurry of discoveries, particularly in East Africa and Inner Mongolia. These have added around 500 Mt of graphite to the world inventory; as a result, there are now sufficient resources to satisfy demand for a century or more, even under relatively optimistic scenarios of growth in demand. Not surprisingly, Table 3.63 shows that Madagascar and Mozambique have become the second and third largest producers of graphite after China that clearly dominates the sector. Figure  3.23 displays a logarithmic scale plot of the tonnages and grades distribution of graphite deposits throughout the world, broken up into “amorphous” and “flake”. It will be noted how all but 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 121 FIGURE 3.22  World distribution of graphite deposits. Note: The diameter of symbols reflects the size of individual deposits. FIGURE 3.23  Log-log plot of tonnages and grades of natural graphite deposits broken up into amorphous and flake showing deposits located in Africa and in the rest of the world (ROW). 122 | MINERAL RESOURCES OF AFRICA one African deposits are flake deposits, and are on average very large in size, in terms of their tonnages relative to the rest of the world. The graph also shows that the amorphous graphite deposits are generally of relatively high grades. In the case of China, this is very significant in a global context, in terms of their collective graphite content. The fact that approximately 40 percent of production in China is from high-grade, amorphous graphite explains why in 2023 it produced 1.2 Mt—more than 77.5 percent of the world’s natural graphite output. The remaining 60 percent of China production of flake graphite originates from a multiplicity of deposits, mostly small in size and lower in grade. Main African graphite deposits Figure 3.22 shows the location of graphite deposits in Africa, differentiated between 25 “flake” and 1 “amorphous” deposits. As shown in Table 3.64, of the 26 deposits, 9 feature vanadium as a possible byproduct, and one (Merelani [Graphite]) is associated with the gemstone tanzanite. Eight deposits, including the largest individual but as yet undeveloped deposit in the world (Triton Minerals’ Balama deposit containing 167 Mt of graphite) and the world’s largest operating mine (Syrah Resources’ Balama mine), are located in Mozambique, with significant resources also in Tanzania, Madagascar, and Malawi (Table 3.64). The African inventory also includes a single, large amorphous graphite deposit— the Malonga deposit in South Africa—containing 12.7 Mt of microcrystalline graphite. Significant but as yet unquantified resources are also currently being delineated in Namibia. Syrah Resources’ Balama open pit graphite mine in the Cabo Delgado Province of Mozambique is hosted in three main bands of graphitic schists dating to about 735 Ma. Ore with flake sizes of up to 4 millimeters persist over a strike length of up to 7 kilometers. This mine—reportedly the largest natural graphite mine in the world—is based on a resource of 1,147 Mt at 12.1 percent total contained graphite (TGC) aggregating to 139 Mt of graphite, including reserves of 113.3 Mt at 16.4  percent TGC containing 18.5 Mt of graphite. At its full, 2 Mt per annum processing capacity, Balama could produce 350,000 metric tons of graphite per annum, but it has been recently producing only under 100,000 metric tons per annum because of sluggish demand. It is estimated that the life of this mine may exceed 50 years, even at full capacity. Specialty metals (tantalum, tin, tungsten) and rare earths elements This section covers the following metals: tantalum, tin, tungsten, and the rare earths elements (REE). The location of the African REE deposits has already been displayed in Figure  3.10, and that of tantalum, tin, and tungsten deposits in Figure 3.25. Tantalum General characteristics and uses Tantalum (symbol Ta, atomic number 73 and mass 180.9) is a hard, blue-grayish, refractory transition metal, highly resistant to corrosion. Tantalum is frequently associated with niobium (Nb), also known as columbium. Because of its inertness, the main use of tantalum (Ta) is as a minor component in specialized alloys, and as a substitute for platinum in the manufacturing of capacitors for use in the electronics and telecommunications industries. Tantalum has particular application to the miniaturized circuits used in mobile phones, computers, and DVD players. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 123 TABLE 3.64  African graphite deposits in order of descending size. GRAPHITE DEPOSITS Country Size Resource OPERATING MINE Flake BALAMA (SYRAH RESOURCES) Mozambique SuperGiant 1147 Mt @ 12.09% Cg + V GRAPHMADA Madagascar Moderate 61.9 Mt @ 4.5% Cg ANCUABE (AMG) Mozambique Moderate [est. 0.6 to 6 Mt of graphite] + V UNDEVELOPED DEPOSIT Flake BALAMA (TRITON MINERALS) Mozambique SuperGiant 1563 Mt @ 10.65% Cg + V DUWI Malawi Major 85.9 Mt @ 7.13% Cg + V MONTEPUEZ (GRAPHITE) Mozambique Major 158.2 Mt @ 6.4% Cg BUNYU NORTH Tanzania Major 406 Mt @ 5.07% Cg EPANKO Tanzania Major 290.8 Mt @ 7.20% Cg + V MAHENGE Tanzania Major 212 Mt @ 7.8% Cg NACHU Tanzania Major 174 Mt @ 5.4% Cg KAMBALE Ghana Moderate 22.4 Mt @ 8.6% Cg LOLA Guinea Moderate 66.3 Mt @ 3.90% Cg MANIRY Madagascar Moderate 40.0 Mt @ 6.48% Cg MALINGUNDE Malawi Moderate 66.3 Mt @ 7.22% Cg + V BALAMA (NEW ENERGY MINERALS) Mozambique Moderate 21.9 Mt @ 13.4% Cg + V BALAMA CENTRAL Mozambique Moderate 32.9 Mt @ 10.2% Cg + V DOMBEYA Mozambique Moderate 56.1 Mt @ 7.03% Cg BUNYU SOUTH Tanzania Moderate 56 Mt @ 3.52% Cg CHILALO Tanzania Moderate 25.1 Mt @ 6.012% Cg LINDI JUMBO Tanzania Moderate 41.8 Mt @ 10.8% Cg MAHENGE LIANDU Tanzania Moderate 59.5 Mt @ 9.81% Cg MERELANI (GRAPHITE) Tanzania Moderate 32.6 Mt @ 6.9% Cg MERELANI-ARUSHA Tanzania Moderate 17.7 Mt @ 6.5% Cg Amorphous MALONGA South Africa Moderate 20 Mt @ 63.5% Cg Tantalum minerals Aside from being a byproduct of tin processing, tantalum is recovered from tantalite ((Fe, Mn)Ta2O6), a mineral with the same mineral structure as columbite ((Fe, Mn) (Ta, Nb)2O6) with which it forms a continuous series (hence the unofficial “coltan” terminology). It is also mined from the rare earths rich samarskite ((Y,Fe,U)(Nb,Ta)O4). The iron rich form of tantalite is known as ferrotantalite, while the manganese-rich one is manganotantalite, while in microlite sodium and calcium substitute for Fe and Mn. 124 | MINERAL RESOURCES OF AFRICA Tantalum deposit types Tantalite-columbite invariably occurs in “hard-rock” pegmatite deposits, often in association with the tin mineral cassiterite. Detrital alluvial deposits frequently form in rivers in the vicinity of the source pegmatites. Resources, reserves, and production considerations Reliable figures regarding tantalum reserves are hard to find, with the USGS (2024) only quoting 2023 reserves for Australia (110,000 metric tons of Ta metal content) and Brazil (40,000 metric ) and China (240,000 metric tons). However, the USGS (2024) reports production tonnages for a number of African countries for which reserves have not been estimated, which, as shown in Table 3.65, account for the bulk (70.0 percent) of total production in 2023 amounting to 2,408 metric tons of Ta metal. Main African tantalum deposits The MinEx database lists four significant primary tantalum deposits, of which only one is a currently operating mine, namely the giant Tier 2 Manolo-Kitotolo pegmatite complex in Democratic Republic of Congo, and one is an exhausted mine not included in Table  3.66. Yet the USGS’ statistics for 2019 (Table 3.66) indicate that tantalum production also occurred in Rwanda, Nigeria, Burundi, and Ethiopia. This would indicate that much of the tantalum production was a byproduct of tin mining in these countries, as well as having been sourced from a multitude of individually insignificant but collectively important small and/or artisanal operations. Tin General characteristics and uses Tin (symbol Sn, atomic number 50 and mass 118.7) is a soft, silvery metal which can easily be cut and bent. It has been used for centuries in alloys with copper to form bronze. With 5–10  percent antimony, 2 percent copper, bismuth, and sometimes silver (but no longer lead due to its toxicity), it was also used for pewter for the manufacture of vases, goblets and other ornaments. Tin is also used to plate steel cans used as food containers, and in solders. TABLE 3.65  Tantalum production in the world and in Africa. Africa Rest of World Reserves 2023 (t) Production 2023 (t) Reserves 2023 (t) Production 2023 (t) Burundi - 36 Australia 110,000 43 Congo (Kinshasa) na 980 Brazil 40,000 360 Ethiopia (est.) na 40 China 240,000 79 Nigeria na 110 Russia na 20 Rwanda na 520 - - - Others na - Others na 220 Africa total - 1,686 ROW total 390,000 722 As % of world total na 70.0% na 30.0% WORLD TOTAL - 390,000 2,408 Source: Modified after USGS’s Mineral Commodity Summaries, 2024. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 125 TABLE 3.66  Main African primary tantalum deposits. Country Size Tier Pre-Mining Resource Metals OPERATING MINE Orthomagmatic Hydrothermal MANONO-KITOLOLO (TANTALUM) Congo, Dem. Rep. Giant 2 [est. 75 to 400 Kt of Ta2O5] Ta, Nb, Sn, Li UNDEVELOPED DEPOSIT Alkalic Igneous ABU DABBAB Egypt Major 3 45 Mt @ 25,00 g/t Ta2O5+ 0.09% Sn Ta, Sn, Nb, Fe NUWEIBI Egypt Major 4 98 Mt @ 145 g/t Ta2O5 + 95 g/t Nb2O5 Ta, Sn, Nb ICYARI Rwanda Moderate - [est. 1.5 to 15 Kt of Ta2O5] Ta, Nb Tin minerals Cassiterite (SnO2) is the only commercial tin ore mineral. Small amounts of tin are also recovered from tin sulfides, as for instance stannite (Cu2FeSnS4). Tin deposit types Tin mineralization occurs primarily as: • disseminations in granite cupolas; • lode-style veins, either within or adjacent to granitic intrusions; • rarely in pegmatites and veins not directly associated with granites; and • eluvial and alluvial deposits. Across Africa, deposits range in age from Archaean in Zimbabwe and Paleoproterozoic in South Africa, to Mesozoic and Pleistocene in Nigeria. Resources, reserves, and production considerations Tin mineralization is widespread throughout the world, with the International Tin Association (2020) holding data on 338 individual deposits containing tin. Of these, the MinEx database categorizes 155 as significant primary deposits, including 15 located in Africa. From a production point of view, as shown in Table  3.68, China, Indonesia, and Burma were the major suppliers. African tin production has increased substantially in the last 5 years particularly in the Democratic Republic of Congo, and in 2023 the African nations listed in Table 3.68 collectively accounted for 31,645 metric tons of tin, or 10.9 percent of total world tin production. Main African tin deposits The MinEx database lists a total of 13 significant primary tin deposits (or 14.3 percent of the world total) as being located in Africa. Of these, as shown in Table 3.69, four are operating mines, of which two are of major size, while four deposits are at the feasibility study stage. It is worth mentioning 126 | MINERAL RESOURCES OF AFRICA TABLE 3.67  Significant tin deposits in the world and in Africa and their resources and reserves. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource [Kt Sn] Resource [Kt Sn] Reserves [Kt Sn] Reserves [Kt Sn] World Primary 155 39,395 10,297 1,439 - Byproduct na 1,685 1,502 92 - Total 155 41,080 11,799 1,530 4,300 Africa Primary 15 3,152 818 132 - Byproduct na 231 51 0 - Total 15 3,383 869 132 >120 Africa as % of World total 9.7% 8.2% 7.4% 8.6% Source: International Tin Association, 2020. Note: Significant reserves contain more than 30 Kt Sn. TABLE 3.68  Tin reserves and production (2023 estimates, metric tons). Africa Rest of the World Reserves 2023 (t) Production 2023 (t) Reserves 2023 (t) Production 2023 (t) Congo, Dem. Rep. 120,000 19,000 China 1,100,000 68,000 Nigeria na 8,100 Indonesia na 52,000 Rwanda na 3,800 Bolivia 400,000 18,000 Namibia (est.) na 492 Brazil 420,000 18,000 Tanzania (est.) na 158 Australia 620,000 9,100 Burundi (est.) na 95 Laos na 2,300 Russia 460,000 2,700 Malaysia na 6,100 Peru 130,000 23,000 Burma 700,000 54,000 Vietnam 11,000 5,300 Others 310,000 555 Africa total 120,000 31,645 ROW Total 4,151,000 259,055 As % of world total na 10.9% 97.2% 89.1% WORLD TOTAL 4,271,000 290,700 Source: Modified from USGS Mineral Commodity Summaries, 2024. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 127 TABLE 3.69  Main African primary tin deposits. Country Size Tier Pre-Mining Resource Metals OPERATING MINE Hydrothermal KALIMA DISTRICT Congo, Dem. Rep. Moderate - [est. 30 to 300 Kt of Tin] Sn, W, Ta, Nb UIS Namibia Major 3 101 Mt @ 0.157% Sn Sn, Nb, Ta, Li Sedimentary, placer and unspecified BISIE Congo, Dem. Rep. Major 3 9.78 Mt @ 3.54% Sn Sn, Cu, Zn, Pb RUTONGO Rwanda Moderate - [est. 30 to 300 Kt of Tin] Sn, Nb, Ta MANONO (ALLUVIAL) Congo, Dem. Rep. Moderate - 273 Mt @ 0.076% Sn + 40 ppm Ta2O5 Sn, Ta BISICHI-BUKURU DISTRICT Nigeria Major 3 [est. 300 Kt to 1.5 Mt of Tin] Sn, Ta UNDEVELOPED DEPOSITS Hydrothermal and orthomagmatic MARBLE HALL South Africa Moderate - 3.6 Mt @ 0.5% Sn Sn EL KARIT Morocco Moderate - [est. 30 to 300 Kt of Tin] Sn ACHMMACH Morocco Moderate - 14.94 Mt @ 0.859% Sn Sn ZAAIPLAATS TIN South Africa Moderate - [est. 30 to 300 Kt of Tin] Sn, W RENOSTERKOP South Africa Moderate - [est. 30to 300 Kt of Tin] Sn, Zn, W that in addition to the four significant deposits currently sustaining sizeable mining operations, the continent hosts a multitude of small and ASM operations, mostly winning detrital tin from individually insignificant but collectively appreciable alluvial deposits. Progressive mechanization of some of these operations, however, is the main reason why African production of tin in concentrates has almost doubled since 2015. In spite of this, no resource estimates are available for most of these deposits, making the overall resource estimate for the African continent largely unreliable and probably grossly under-stated. According to the International Tin Association (2020), the Democratic Republic of Congo has the third largest resources and the second-largest tin reserves in the world. These are contained in two mines: (i) Bisie, with narrow veins, blocks and dispersions of cassiterite in a chlorite schist aggregating to 5.14 Mt at 4.49 percent Sn + 0.30 percent Cu + 0.15 percent Zn + 2.5 g/t Ag + 0.5 percent REO, equivalent to 165,000 metric tons of tin metal equivalent; and (ii) the Manono lithium pegmatite that contains byproduct tin resource of 220,000 metric tons. Nigeria continues to be a major producer, particularly from the Bisichi-Bukuru mine in the Jos Plateau, which has been in operation since the early 1900s, and may originally have contained up 1.5 Mt of tin. African production will soon be enhanced by the opening of the Achmmach mine in Morocco (with tin resources of 127,000 metric tons), and possible future development of the Abu Dabbab mine in Egypt. 128 | MINERAL RESOURCES OF AFRICA Tungsten General characteristics and uses Tungsten, also called wolfram (symbol W, atomic number 74, and mass 183.8), is a gray-whitish, transitional metal with exceptionally high tensile strength and melting point, and high corrosion resistance. With hardness just under that of diamond, the main use for tungsten is in the manufacturing of carbides used in cutting and drilling tools, and other applications requiring wear resistance in metalworking, resources and construction industries. Tungsten is also used in electrodes, light bulb filaments, and welding, and has military applications in armor plates. Chemical W applications also include catalysts and paint pigments. Tungsten minerals Tungsten is primarily extracted from the calcium tungstate mineral scheelite (CaWO4) and iron manganese tungstate mineral wolframite ((Fe,Mn)WO4). The latter is the intermediate in the solid solution series between the iron-rich ferberite and manganese-rich hübnerite. Tungsten deposit types There are essentially three types of tungsten deposits. In order of decreasing economic importance, they include: • Sheeted vein deposits where wolframite and subordinately scheelite occur in subparallel, vertical or steeply dipping swarms of hydrothermal quartz veins, above or in the highest part of granitic intrusions. This type of deposit typically features high tonnages of ore of relatively low grade, while thicker veins displaying higher grades may, in some cases, be individually mined. • Skarn deposits containing scheelite at the intrusive contact between granites and adjacent carbonatic rocks. Although often high-grade, ore tonnages in skarns are generally modest. • Pegmatites at the margins of granites may also contain wolframite. Resources, reserves, and production considerations The MinEx database contains a total of 84 tungsten deposits in the world, of which 27 are located in China where they currently support 12 mining operations, and 5 are located in Africa. The Chinese deposits, which are mostly Mesozoic to Cenozoic in age, include some with very significant resources, as for instance the giant Zhuxi skarn and Dahutang porphyry deposits in Jangxi Province. Most of the deposits, however, are in hydrothermal veins. Major, as yet undeveloped porphyry resources are also found in Canada, for instance the Sisson deposit in New Brunswick and the Northern Dancer deposit in Yukon Province. Russia, Kazakhstan, and the United States also feature important tungsten deposits. From a reserve and production point of view, as shown in Table 3.70, China dominated the industry, with just over 52 percent of reserves and just over 80 percent of supply in 2023. China was followed at a fair distance by Vietnam and Russia. The relatively high reserves and production figures under the “Others” heading reflect the geographically widespread nature of tungsten mining, with less significant producers also in the Democratic People’s Republic of Korea, the Plurinational State of Bolivia, and Spain. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 129 TABLE 3.70  Tungsten reserves and production in the world and in Africa, 2023. Africa Rest of World COUNTRY Reserves 2023 (t) Production 2023 (t) COUNTRY Reserves 2023 (t) Production 2023 (t) Rwanda na 1,400 China 2,300,000 63,000 Burundi (est.) na 120 Russia 400,000 2,000 Congo, Dem. Rep. (est.) na 114 Vietnam 74,000 3,500 Spain 66,000 1,500 Australia 570,000 800 Austria 10,000 910 Bolivia na 1,500 Korea, N 29,000 1,700 Portugal 4,000 500 Others 950,000 866 Africa total 0 1,624 ROW Total 4,403,000 76,276 As % of world total na 2.1% 100.0% 97.9% WORLD TOTAL 4,403,000 77,910 Source: Modified after USGS’s Mineral Commodity Summaries, 2024. Main African tungsten deposits Of the five tungsten deposits located in Africa, as listed in Table  3.71, one is a closed mine. The remaining four are of moderate size and include two operating mines based on hydrothermal quartz veins, in Uganda (Nyamuliro) and Zimbabwe (Rha). There is also the as yet undeveloped Riviera skarn deposit in South Africa. In essence Africa does not feature prominently in the world context with regard to its tungsten resources. Rare earths elements The location of the African primary rare earth elements (REEs) deposits has already been displayed in Figure 3.10. TABLE 3.71  Main African primary tungsten deposits. Country Size Type Pre-Mining Resource Metals OPERATING MINE NYAMULIRO Uganda Moderate Vein 10 Mt @ 0.4% W W RHA Zimbabwe Moderate Hydrothermal 21.9 Mt @ 0.22% W W UNDEVELOPED DEPOSIT RIVIERA South Africa Moderate Skarn 46 Mt @ 0.22% W + 0.02% Mo W, Mo, REE RUHIJHA Uganda Moderate Vein [est. 10 to 100 Kt W] W 130 | MINERAL RESOURCES OF AFRICA General characteristics and uses REEs, the so-called lanthanide series, comprise 15 chemically similar, metallic elements with atomic numbers 57 through to 71 including: lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), promethium (Pm), samarium (Sm), europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), and lutetium (Lu). The lanthanides are divided into light rare earths (lanthanum to gadolinium) and heavy rare earths (terbium to lutetium). Elements with similar chemical properties often grouped with the lanthanides are scandium (Sc, atomic number 21), yttrium (Y, atomic number 39), and thorium (Th, atomic number 90). About a third of REE are used in automotive catalytic converters. The rest are used as metallurgical additives and in alloys, including strengthening and hardening of magnesium and aluminum alloys and as REE mishmetal in the production of applications in the production of high-strength, low-alloy (HSLA) steel, high carbon steel, superalloys, stainless steel and armor plate. Other applications are in optical lenses, as petroleum refining catalysts, and in a vast range of other electronic and advanced technological applications. Rare earths minerals The main economic minerals containing rare earths are bastnaesite (CeFCO3), a fluoro-carbonate of cerium containing 60–70 percent rare earth oxides (REO); monazite ((Ce,La,Y,Th)PO4), a rare earth phosphate containing 50–78 percent REO; and xenotime (YPO4), a yttrium phosphate containing 54–65 percent REO. Other rare earths, such as cerium and yttrium, are also contained in the complex calc-silicate allanite and cerium and yttrium in apatite and zircon. REE deposit types The main rare earth deposit types include in order of decreasing economic importance: • Alkaline, carbonatite, and phoscorite intrusion-related deposits rich in bastnaesite, which is the major source of rare earths including lanthanum and neodymium. REE mineralization may also be found in veins and dikes cutting alkaline igneous complexes and surrounding rocks, and in carbonate-replacement and skarn deposits associated with alkaline intrusions. • Residual deposits formed from deep weathering of igneous alkaline rocks. • Detrital placers and alluvial deposits featuring monazite and xenotime, generally associated with ilmenite in heavy mineral sands deposits. • Pegmatites often containing xenotime. • Iron-oxide copper-gold (IOCG) deposits, as for instance the Cu-U Olympic Dam deposit in South Australia. • Marine phosphate greensands and nodules. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 131 Resources, reserves, and production considerations The MinEx database (Table 3.72) contains 148 significant REE deposits worldwide, including 18 located in Africa. Six of these deposits are classified as giant and five as major. Collectively, they contain about 9.2 percent of total world rare earths oxide (REO) resources and 20.7 percent of reserves. As shown in Table 3.73, the USGS estimates that in 2023, total reserves of REE expressed in terms of weight of rare earth oxides (REO) stood at 115 Mt and production at 391,320 metric tons. Although reserves are quoted for South Africa and Tanzania, they are not estimated for Burundi and Madagascar, even though these countries were producers of REE during the year. As a result, the total reserves figure for Africa in Table 3.73 is only part of a total estimate of around 23 Mt of REO. In 2023 China maintained its dominance of the REE industry, with 44 Mt of REO accounting for around 38 percent of total world reserves, and with 240,000 metric tons of REO production representing over 57 percent of total world production. This is not surprising given that China hosts, among others, the Super-Giant Bayan Obo deposit, and the giant Longman, Maunioping, and Miaoya deposits. Main African REE deposits Even though appreciable resources of REE occur throughout Africa, REE have only been produced as byproducts since the closure of the enriched carbonatite Gakara mine in Burundi (0.257 Mt @ 54.3 percent REO). Table 3.74 lists the 18 as yet undeveloped REE deposits located in Africa, of which 6 are giant and 4 major in size. These include the Tier 2 Longonjo deposit in Angola now approaching production, the Tier 3 Lahjeyra, Lamiaga and Twihinate deposits in Morocco, the Tier 3 Ngualla deposit in Tanzania, and the Tier 2 Kangankunde deposit in Malawi. Diamond and gemstones The location of the African diamond deposits has already been displayed in Figure 3.17. TABLE 3.72  Primary rare earth deposits in the world and in Africa, and the approximate value of their contained metals. Number of Pre-Mined Current MI&I Current P&P USGS 2023 Deposits Resource (Mt REO) Resource (Mt REO) Reserves (Mt REO) Reserves (Mt REO) World Primary 148 274 245 9 na Byproduct na 64 54 - na Total 148 338 299 9 115 Africa Primary 18 27 18 2 na Byproduct na 10 10 - na Total 18 37 28 2 23 Africa as % of world total 12.2% 10.9% 9.2% 20.7% 19.7% 132 | MINERAL RESOURCES OF AFRICA TABLE 3.73  Reserves and production of rare earth oxides in the world and in Africa, 2023. Africa Rest of World Reserves 2023 Production 2023 Reserves 2023 Production 2023 (t REO) (t REO) (t REO) (t REO) Madagascar na 960 Australia 5,700,000 18,000 South Africa 790,000 na Brazil 21,000,000 80 Tanzania 890,000 na Burma na 38,000 Others na na Canada 830,000 na China 44,000,000 240,000 Greenland 1,500,000 na India 6,900,000 2,900 Malaysia na 80 Myanmar na 38,000 Russia 10,000,000 2,600 Thailand 4,500 7,100 USA 1,800,000 43,000 Vietnam 22,000,000 600 Others 310,000 na Africa Total 1,680,000 960 ROW Total 114,044,500 390,360 As % of world total na 0.2% As % of world total 98.5% 99.8% WORLD TOTAL 115,724,500 391,320 Source: Modified after USGS Mineral Commodity Summaries, 2024. General characteristics and uses Diamond, as distinct from graphite, is a crystalline form of the element carbon (C) that has the highest hardness and thermal conductivity of any other natural material. Because of its high light dispersion properties, in its flawless crystalline form, it has high brilliance and appeal as a gemstone. Because of its hardness, non-gem-quality diamonds find major application in cutting and polishing tools. However, industrial-grade diamonds are facing increasing competition from more affordable synthetic diamonds. Diamond minerals Gem-quality rough diamonds are classified according to criteria provided, among others, by the Gemological Institute of America (GIA). These include their octahedral crystalline structure (for example, stone, shapes, cleavages, macles, and flats) that affects the yield (from 50 percent down to 25 percent); and their rough weight, clarity and color, with the latter criterion having recently become important in marketing a range of highly valued fancy pink, blue, and yellow stones. The combination of these criteria allows the valuator to place diamonds in a price matrix (for example, the Rapport diamond price list or, in the case of De Beers’ Diamond Trading Company (DTC), its own “Price Book”) and derive from that the rough price per carat. There can be significant differences from valuator 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 133 TABLE 3.74  Main African primary rare earths deposits. DEPOSIT Country Size Tier Stage Pre-Mining Resource Metals Carbonatite LONGONJO Angola Giant 2 Development/ 313 Mt @ 1.39% REE REE, Nb, Th Construction LAHJEYRA Morocco Giant 3 Advanced Exploration [est. 1 to 10 Mt of REO] REE, Nb, Th, Mo, Au, V LAMIAGA Morocco Giant 3 Advanced Exploration [est. 1 to 10 Mt of REO] REE, Nb, Au, Mo TWIHINATE Morocco Giant 3 Advanced Exploration [est. 1 to 10 Mt of REO] REE, Nb, U NGUALLA Tanzania Giant 3 Feasibility Study 214 Mt @ 2.14% REE REE, Ba, P2O5 KANGANKUNDE Malawi Giant 2 Advanced Exploration 261 Mt @ 2.11% REE + 0.01 kg/t U3O8 REE, U, Th, Sr SONGWE Malawi Major 3 Feasibility Study 49 Mt @ 1.32% REE + 0.01 kg/t U3O8 REE KALKFELD (REE) Namibia Major 4 Advanced Exploration 28 Mt @ 0.86% REE REE, Nb, Sr, Fe ZANDKOPSDRIFT South Africa Major 3 Pre-Feas/ Scoping 47 Mt @ 1.82% REE + 0.08 kg/t U3O8 REE, Mn NKOMBWA HILL Zambia Major 4 Advanced Exploration 21.8 Mt @ 1.17% REE + 7.06% P2O5 REE, Nb, P, Th MONTE MUAMBE Mozambique Moderate Advanced Exploration 13.6 Mt @ 2.42% REE REE, F EUREKA Namibia Moderate Advanced Exploration 0.31 Mt @ 4.8% REE REE, Th LOFDAL Namibia Moderate Pre-Feas/ Scoping 73.33 Mt @ 0.11% REE REE, Th, Nb, U WIGU HILL Tanzania Moderate Pre-Feas/ Scoping 3.3 Mt @ 2.6% REE REE, F PILANESBERG South Africa Moderate Prospect 13.5 Mt @ 0.7% REE REE, Zr, Th Ion Adsorption and Others TANTALUS Madagascar Moderate 3 Advanced Exploration 628 Mt @ 0.08% REE + 0.01 kg/t U3O8 REE, Nb, Ta MAKUUTU Uganda Major 3 Feasibility Study 531 Mt @ 0.05% REE + 0.01 kg/t U3O8 REE, Sc PHALABORWA South Africa Pre-Feas/ Scoping 30.7 Mt @ 0.43% REE REE (PHOSPHOGYPSUM TAILINGS) to valuator because of the specialized nature of the classification process, and the large number of valuation criteria, and consequently, of possible quality combinations (thousands). Industrial quality diamonds are those that fail most of the above criteria, have a high content of impurities, and include the waste from the process of cutting and polishing gem quality diamonds. That said, the Indian diamond cutting industry has been able to utilize even very small off-cuts for use in jewelry. Diamond deposit types Diamond deposits can be broadly categorized into two types of deposits: • Intrusive pipes and dikes of alkali composition, such as kimberlites and lamproites, in which rare diamonds crystallized under high temperature and pressure at great depth of 150 km to 200 km below the Earth’s surface, and were then rapidly brought to the surface by the molten magma. 134 | MINERAL RESOURCES OF AFRICA • Placer/alluvial deposits where detrital diamonds liberated by erosion were deposited in fluvial or marine environments where currents slacked. Because of their hardness, diamonds can be transported over significant distances and multiple episodes of erosion and deposition. Resources, reserves, and production considerations There are 183 active diamond projects in the world. Of these, 113 are located in Africa. Limited information is available in terms of reliable estimates of the quantity (that is, measured million carats) and geographic distribution of industrial diamond reserves and production throughout the world (summarized in Table 4.75). In the case of gem-quality diamonds, the information provided in Table 3.76 is limited to production quantified not by weight but in terms of value. No detailed information is available regarding the geographical distribution of gem diamonds, but the bulk of the pre-mining resources are known to have been located in Southern Africa, Australia, Canada, and Russia. In addition, 4 out of a total of 15 significant emerald projects in the world and 4 out of 7 ruby projects are located in Africa, as well as 1 sapphire and a unique tanzanite mine. In terms of production of industrial quality diamonds (Table 3.75) Russia, Botswana, the Democratic Republic of Congo, and South Africa dominated the field. When it comes to gem-quality diamonds, Russia and Canada are the two largest individual producers, with Botswana and Angola close behind. The second largest diamond (2,492 carat) after the legendary Cullinan diamond (3,106 carat) was recently found in the Karowe mine in Botswana. It is, however, probable that the gem diamond production statistics for Africa may be understated, because of the very significant number of artisanal and small mining operations active in the continent. By their informal nature, these are unlikely to report and market their production through official channels, but they are estimated to represent around 25 percent of total production (World Bank Group, 2020). The Aikhal and the Udachny diamond mines, located in Yakutia province of Russia, are the largest and third largest diamond mines in the world. In addition, this province also hosts the large, underground TABLE 3.75  Industrial diamond resources and production estimates in the world and in Africa, 2023. Africa Rest of the World Resources Production Resources Production 2023 (M Ct) 2023 (M Ct) 2023 (M Ct) 2023 (M Ct) Angola 150.00 1.00 Russia 860.0 18.0 Botswana 280.00 7.00 Others 120.0 1.0 Congo (Kinshasa) 150.0 8.0 South Africa 95.0 6.0 Zimbabwe na 4.0 TOTAL AFRICA 675.0 M Ct 26.0 M Ct ROW TOTAL 980.0 M Ct 19.0 M Ct As % of world Total: 59.2% 42.2% WORLD TOTAL 1,655.0 M Ct 45.0 M Ct Source: USGS Mineral Commodity Summaries 2024. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 135 TABLE 3.76  Gem-quality diamond production estimates in the world and in Africa, 2023. AFRICA Production 2023 ($M) REST OF THE WORLD Production 2023 ($M) Botswana 17,000 Russia 24,000 South Africa 3,800 Canada 15,000 Angola 7,900 Brazil 160 Congo (Kinshasa) 2,000 Others 300 Namibia 2,000 Lesotho 730 Sierra Leone 550 Tanzania 320 Zimbabwe 440 Guinea 100 TOTAL AFRICA 34,840 ROW TOTAL 39,460 As % of world total:  53.1% WORLD TOTAL 74,300 Source: USGS Mineral Commodity Summaries, 2024. Mir mine. The Jwaneng and Orapa diamond pipes in Botswana, the Nyurba and Catoca kimberlite pipes in Angola, and the Venetia mine in South Africa are not far behind in importance.The Ekati diamond mine in the Northwest Territories of Canada and the now exhausted lamproite-based Argyle mine of Western Australia are among the largest diamond mines outside Africa and Russia. Main African diamond deposits Of the 49 currently operating diamond mines, 20 are associated with alkali intrusions (Table 3.77) and 29 are placer/alluvial deposits (Table 3.78). The former include two super giant Tier 1 and five giant deposits ranging from Tier 1 to 2, in addition to nine major and four moderately sized deposits. The latter, that is, the placer/alluvial category, includes one super giant and seven giant deposits mostly (six) ranking Tier 1 and two Tier 2. In addition, Africa hosts a vast array of very promising but undeveloped deposits in both the alkali intrusive association (Table 3.79), including two giant and two major deposits located in Angola and a major in Sierra Leone. Undeveloped placer/alluvial deposits (Table 3.80) are all of moderate size, except for one major deposit under development in Zimbabwe (Umkondo Basin). Bauxite The location of the African bauxite deposits has already been provided in the map in Figure 3.10. General characteristics and uses Bauxite ore is a rock containing elevated amounts of aluminum hydroxides and a range of impurities (primarily iron oxides and silica) in clay minerals or as quartz. The vast majority (around 90 percent) of bauxite currently mined is used as the raw material in the commercial production of metallurgical grade alumina (MGA Al2O3), the main feed for the production 136 | MINERAL RESOURCES OF AFRICA TABLE 3.77  African diamond mines associated with alkali intrusions. MINE Country Size Tier Pre-Mining Resource JWANENG DIA CAMP Botswana SuperGiant 1 551 Mt @ 1.19 Ct/t VENETIA South Africa SuperGiant 1 303 Mt @ 0.87 Ct/t CATOCA Angola Giant 1 329 Mt @ 0.70 Ct/t ORAPA DIAMOND CAMP Botswana Giant 1 1363 Mt @ 0.82 Ct/t CULLINAN South Africa Giant 1 294 Mt @ 0.33 Ct/t FINSCH South Africa Giant 2 [est. 36 to 360 million Carats] MWADUI Tanzania Giant 2 1207 Mt @ 0.065 Ct/t DAMTSHAA Botswana Major 3 [est. 6 to 36 million Carats] KAROWE Botswana Major 3 87.4 Mt @ 0.15 Ct/t LETLHAKANE Botswana Major 3 209 Mt @ 0.23 Ct/t KAO Lesotho Major 3 183 Mt @ 0.06 Ct/t LIQHOBONG Lesotho Major 3 [est. 6 to 36 million Carats] KOIDU Sierra Leone Major 3 [est. 6 to 36 million Carats] KOFFIEFONTEIN South Africa Major 3 137.4 Mt @ 0.038 Ct/t MUROWA Zimbabwe Major 3 12.3 Mt @ 0.67 Ct/t LETSENG Lesotho Major 2 294 Mt @ 0.02 Ct/t CAMUTUE Angola Moderate - [est. 0.6 to 6 million Carats] TSHIBWE Congo, Dem. Rep. Moderate - [est. 0.6 to 6 million Carats] BAOULE Guinea Moderate - 22.2 Mt @ 0.15 Ct/t MOTHAE Lesotho Moderate - 39 Mt @ 0.03 Ct/t of aluminum metal (Al). Five percent is used to produce chemical grade alumina, and the remaining 5 percent for non-metallurgical uses in various forms of specialty alumina, such as for the manufacturing of abrasives, refractories, ceramics and cement, and for steel fluxing and water treatment. Bauxite minerals The main aluminum minerals contained in bauxite are gibbsite (Al(OH)3), boehmite (AlO(OH)) and diaspore (Al2O3(OH)), mixed with the two iron oxides goethite (FeO(OH)) and hematite (Fe2O3), the aluminum clay mineral kaolinite (Al2Si2O5(OH)), and small amounts of anatase (TiO2) and ilmenite (FeTiO3 or FeO.TiO2). Bauxites for metallurgical use are of two basic types, depending on their mineralogical composition which influences the temperature of the process applied to refine them into alumina, namely: • low temperature gibbsite (trihydrate or tropical bauxite); and • high temperature boehmite (mono-hydrate or European bauxite). Trihydrate bauxite represents about 46 percent of total production. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 137 TABLE 3.78  African placer/alluvial diamond mines. MINE Country Size Tier Pre-Mining Resource CDM AREA Namibia SuperGiant 1 [est. >360 million Carats] CUANGO ALLUVIALS Angola Giant 1 [est. 36 to 360 million Carats] OFFSHORE DIAMONDS Namibia Giant 1 [est. 36 to 360 million Carats] MARANGE (CAMP) Zimbabwe Giant 1 [est. 36 to 360 million Carats] CHIUMBE RIVER Angola Giant 1 [est. 36 to 360 million Carats] MBUJI MAYI (ALLUVIAL) Congo, Dem. Rep. Giant 2 [est. 36 to 360 million Carats] BIRIM DIAMOND FIELD Ghana Giant 2 [est. 36 to 360 million Carats] LUDERITZ AREA Namibia Giant 1 [est. 36 to 360 million Carats] KONO DISTRICT Sierra Leone Major 3 [est. 6 to 36 million Carats] ALEXKOR South Africa Major 3 [est. 6 to 36 million Carats] LUREMO (ALLUVIALS) Angola Major 3 [est. 6 to 36 million Carats] CHITOTOLO Angola Moderate - [est. 0.6 to 6 million Carats] SOMILUANA Angola Moderate - 90 Mt @ 0.075 Ct/t in gravels SEGUELA DISTRICT Côte d’Ivoire Moderate - [est. 0.6 to 6 million Carats] GBENKO Guinea Moderate - [est. 0.6 to 6 million Carats] DABERAS Namibia Moderate [est. 0.6 to 6 million Carats] SENDELINGDRIF Namibia Moderate [est. 0.6 to 6 million Carats] KOINGNAAS South Africa Moderate [est. 0.6 to 6 million Carats] CHICAPA RIVER Angola Moderate [est. 0.6 to 6 million Carats] HUAMBO DISTRICT Angola Moderate [est. 0.6 to 6 million Carats] LUI RIVER (ALLUVIALS) Angola Moderate [est. 0.6 to 6 million Carats] BONSA Ghana Moderate [est. 0.6 to 6 million Carats] AREDOR DISTRICT Guinea Moderate [est. 0.6 to 6 million Carats] FENARIA (ALLUVIALS) Guinea Moderate [est. 0.6 to 6 million Carats] MACENTA DISTRICT Guinea Moderate [est. 0.6 to 6 million Carats] MANO/LOFA R. AREA Liberia Moderate [est. 0.6 to 6 million Carats] NAMIBIAN (OFFSHORE) Namibia Moderate [est. 0.6 to 6 million Carats] NJEI BAFI Sierra Leone Moderate [est. 0.6 to 6 million Carats] TONGO (ALLUVIALS) Sierra Leone Moderate [est. 0.6 to 6 million Carats] 138 | MINERAL RESOURCES OF AFRICA TABLE 3.79  Undeveloped African diamond deposits associated with alkali intrusions. DEPOSIT Country Size Tier Stage Pre-Mining Resource LUAXE Angola Giant 1 Feasibility Study [350 million Carats] CHIRI Angola Giant 3 Feasibility Study [est. 36 to 360 million Carats] TONGO (DYKE) Sierra Leone Major 3 Development/Construction [est. 6 to 36 million Carats] MULEPE Angola Major 3 Feasibility Study 65.7 Mt @ 0.08 Ct/t CAMAFUCA Angola Major 3 Feasibility Study 387.6 Mt @ 0.060 Ct/t ALTO CUILO Angola Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] LULO (KIMBERLITE) Angola Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] SANGAMINA Angola Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] BK16 Botswana Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] KAMFERSDAM South Africa Moderate - Advanced Exploration 9 Mt @ 0.14 Ct/t OTTO’S KOPJE South Africa Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] TCHIEGI Angola Moderate - Feasibility Study [est. 0.6 to 6 million Carats] LACE PIPE South Africa Moderate - Feasibility Study 38.5 Mt @ 0.24 Ct/t KUKAMA Botswana Moderate - Pre-Feas/Scoping 24.7 Mt @ 0.35 Ct/t TABLE 3.80  Undeveloped African placer/alluvial diamond deposits. DEPOSIT Country Size Tier Stage Pre-Mining Resource UMKONDO BASIN Zimbabwe Major 3 Development [est. 6 to 36 million Carats] MASSANGENA DISTRICT Mozambique Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] CHIMANIMANI Zimbabwe Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] LUMUANZA Angola Moderate - Advanced Exploration 52.24 Mt @ 0.038 Ct/t in gravel BADIBANGA Congo, Dem. Rep. Moderate - Advanced Exploration 6.8 Mt @ 0.50 Ct/t GROEN RIVER VALLEY South Africa Moderate - Advanced Exploration 360 Mt @ 0.025 Ct/t TSHIKAPA AREA Congo, Dem. Rep. Moderate - Advanced Exploration [est. 0.6 to 6 million Carats] SAXENDRIFT South Africa Moderate - Advanced Exploration [0.14 million Carats] MAI MUNENE Congo, Dem. Rep. Moderate - Feasibility Study 31.1 Mt @ 0.20 Ct/t TORTYIA Côte d’Ivoire Moderate - Past Producer - Under Study [est. 0.6 to 6 million Carats] ML111 Namibia Moderate - Pre-Feas/Scoping [est. 0.6 to 6 million Carats] MOBILONG Cameroon Moderate - Pre-Feas/Scoping [est. 0.6 to 6 million Carats] 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 139 Type of bauxite deposits Bauxite deposits are residual, formed through the in-situ weathering of underlying Al-rich rocks, such as granite, basalt, or arkose. They can be classified as laterite type or karst type bauxite. In addition, texturally, they can be pisolithic or massive. Immobile alumina (Al2O3) and to some degree TiO2, are enriched in weathering environments as SiO2, FeO, and the alkalis, which are readily mobile, are progressively removed. If the Al/Fe ratio increases high enough, bauxite becomes an aluminum ore. Resources, reserves, and production considerations The MinEx database, as shown in Table 3.81, contains 175 significant bauxite deposits in the world with a total current resource of 20,492 Mt of Al2O3. Forty-three of these deposits are located in Africa. Collectively they contain 11.5 Bt or 56.1 percent of current resources. The USGS’s Mineral Commodity Summary (2024) indicates (Table 3.82) that in terms of tonnages of usable bauxite (not contained Al2O3), current resources are of the order of 29.9 Bt. Guinea on its own, with 7.4 Bt, represents the largest reserves of usable bauxite in the world at just under 25 percent of the world total at 30.0 Bt, ahead of Vietnam with 5.8 Bt. In terms of production, however, as shown in Table 3.82, Australia with 98.0 Mt or 24.7 percent of total world production at 396.1 Mt, was the largest producer in 2023. Australia was just ahead of Guinea, a close second at 97.0 Mt (24.5 percent of total), growing rapidly from 57 Mt in 2018. Main African bauxite deposits The MinEx database lists 43 significant bauxite deposits located in Africa. Of these, 16 are listed in Table 3.83, including operating mines and deposits at the advanced stages of feasibility. Bauxite deposits are primarily located in Guinea which hosts the most deposits in Africa. These account for 13 of the deposits listed in Table 3.83, of which 4 are giant and 5 are major deposits. Two giant deposits, the Sangareti mine based on a pre-mining resource of 7,579 Mt at 47.7 percent Al2O3 and Boffa (1,924 Mt at 33.5 percent Al2O3) are currently in operation. The other two, including Koumbia (2,100 Mt at 43.5 percent Al2O3), Labé (2,500 Mt at 43 percent Al2O3) are at the feasibility stage. Of the major deposits, only Friguia (425 Mt at 40.0 percent Al2O3) and Dian Dian (795 Mt at 39 percent Al2O3) are currently in operation with all the others at various stages of feasibility. Other operating mines of moderate size are found in Ghana, with the high grade (24.3 Mt at 52 percent Al2O3) Awaso deposit, in Guinea (Belair and Kindia), and in Sierra Leone, with the rich 53.6 Mt at 53.7 percent Al2O3) SML deposit. TABLE 3.81  Significant bauxite deposits in the world and in Africa, and their resources and reserves (Mt of Al2O3). Number of Pre-Mined Resource Current MI&I Resource Current P&P Reserves REGION Deposits [Mt Al2O3] [Mt Al2O3] [Mt Al2O3] World 175 28,813 20,492 2,568 Africa 43 12,379 11,488 490 Africa as % of world total: 24.6% 43.0% 56.1% 19.1% 140 | MINERAL RESOURCES OF AFRICA TABLE 3.82  Bauxite reserves and production in the world and in Africa, 2023. Africa Rest of the World Reserves 2023 (Kt) Production 2023 (Kt) Rest of World Reserves 2023 (Kt) Production 2023 (Kt) Guinea 7,400,000 97,000 Australia 3,500,000 98,000 Vietnam 5,800,000 3,700 Jamaica 2,000,000 6,000 Brazil 2,700,000 31,000 Indonesia 1,000,000 20,000 China 710,000 93,000 India 650,000 23,000 Russia 480,000 5,800 Saudi Arabia 180,000 4,600 Turkey 63,000 2,000 Kazakhstan 160,000 4,300 Greece na 1,200 Malaysia 110,000 900 USA 20,000 na Others 5,100,000 5,600 Africa total na 97,000 ROW Total: 22,473,000 299,100 As % of world total: na 75.5% World total 29,873,000 396,100 Source: USGS Mineral Commodity Summaries, 2024. Energy minerals: coal and uranium Coal General considerations and uses Coal is a general term covering a range of black or brownish-black, combustible sedimentary rocks, generally containing more than 25 percent by weight of carbon. In terms of its use, coal can be primarily classified as thermal or coking. The former, also known as steam coal, is used mainly for electricity generation, and subordinately burned directly to provide space heating. The latter is also known as metallurgical coal. Volatile compounds and impurities are driven off bituminous coal with low sulfur and phosphorus content through oxygen-free pyrolysis at 1,100 degrees Celsius, leaving behind pure melted carbon that solidifies into lumps called “coke”. Coke is a critical input in the production of steel in blast furnaces. In addition, coal has many other important applications in alumina refineries, paper manufacturing, and in the chemical and pharmaceutical industries. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 141 TABLE 3.83  Operating and undeveloped African bauxite deposits. NAME Country Size Tier Status Pre-Mining Resources Operating Mines BOFFA Guinea Giant 1 Operating Mine 1750 Mt @ 39.1% Al2O3 SANGAREDI Guinea Giant 1 Operating Mine 6582.034 Mt @ 47.7% Al2O3 FRIGUIA Guinea Major 3 Operating Mine 423 Mt @ 39.9% Al2O3 AWASO Ghana Moderate 3 Operating Mine 24.3 Mt @ 52% Al2O3 BEL AIR Guinea Moderate Unc Operating Mine 146 Mt @ 44.4% Al2O3 KINDIA Guinea Moderate Unc Operating Mine 186 Mt @ 40.8% Al2O3 SML Sierra Leone Moderate Unc Operating Mine 53.6 Mt @ 53.7% Al2O3 Undeveloped Deposits KOUMBIA Guinea Giant 2 Feasibility Study 2100 Mt @ 43.5% Al2O3 DIAN DIAN Guinea Major 3 Development/Construction 689 Mt @ 39% Al2O3 GAC PROJECT Guinea Major 3 Development/Construction 527 Mt @ 37.7% Al2O3 MINIM MARTAP Cameroon Major 3 Feasibility Study 466 Mt @ 46.2% Al2O3 LABÉ Guinea Giant 3 Pre-feas/Scoping 2500 Mt @ 43% Al2O3 GARAFIRI Guinea Major 3 Pre-feas/Scoping 300 Mt @ 41.4% Al2O3 BON AMI Guinea Moderate Unc Development/Construction [est. 10 to 100 Mt of Al2O3] NGAOUNDAL Cameroon Moderate Unc Feasibility Study 88 Mt @ 41.8% Al2O3 FAR PROJECT Guinea Moderate Unc Pre-feas/Scoping 73 Mt @ 39.9% Al2O3 Coal types The coal formation process starts when partly decayed plant material, called peat and containing up to 90 percent moisture in its raw state, is subjected to various degrees of heat and pressure due to burial over geological timespans dating back as far as the late Carboniferous and Permian periods. Diagenesis resulting in increasing compaction; in some cases tectonic and metamorphic processes progressively drive moisture away, thus increasing carbon content and the hardness of coal seams. Coal can be ranked according to its degree of coalification, affecting its chemical composition, heating value, or physical characteristics. In ascending rank order coal includes: • Lignite, also known as soft or brown coal, has a carbon content of around 25–35 percent, high inherent moisture content (sometimes as high as 66 percent), and greater than 31 percent volatile matter on a dry mineral matter free basis. Its ash content, made up of minerals such as iron, limestone, clay, and silica, as well as trace elements such as arsenic and chromium, ranges from 6 percent to 19 percent compared with 6 percent to 12 percent for bituminous coal. This non- agglomerating coal has a gross calorific value (GCV) of 5.5 to 14.3 British Thermal Units (Btus) or Millijoules per kilogram. 142 | MINERAL RESOURCES OF AFRICA FIGURE 3.24  Location map of energy minerals (coal and uranium). Note: The diameter of symbols reflects the size of individual deposits. • Sub-bituminous coal is a non-agglomerating coal with a GCV between 8.3 and 25 Btus, and containing more than 31 percent volatile matter. • Bituminous coal usually has a relatively high (up to 90  percent) carbon content, more than 10 percent volatile matter and 6 percent to 12 percent ash content. Its gross calorific value is 18.8 to 29.3 Btus on an ash-free but moist basis. Australian bituminous coal averages 28 794 kJ/kg. Mostly used as thermal coal, but when its quality allows the production of a coke suitable to support a blast furnace charge, it may be used as coking coal. • Anthracite, the highest rank in coal formation, is hard and has a black luster. It has generally less than 10 percent volatile matter and a high (about 90 percent) carbon and very low ash content. Its gross calorific value is greater than 30 Btus. Resources, reserves, and production considerations As shown in Table 3.84, the MinEx database lists a total of 1,645 significant coal deposits in the world, of which 215 are in Africa. These numbers do not capture a multitude of smaller peat and lignite deposits exploited on a small scale for local consumption in most developing countries. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 143 TABLE 3.84  Significant coal deposits in the world and in Africa, and their resources and reserves. Number of Pre-Mined Resource Current MI&I Resource Current P&P Reserves REGION Deposits [Mt Coal] [Mt Coal] [Mt Coal] World 1645 895,166 525,037 112,506 Africa 215 125,186 108,187 9,067 Africa as % of World Total 13.1% 14.0% 20.6% 8.1% World coal production in 2023 totaled 8.94 Bt, of which about 85 percent was thermal coal and the remainder metallurgical quality coal. Africa contributed a total 288 Mt, of which South Africa, the seventh major world producer (Table 3.85), accounted for 228.5 Mt, a mere 2.6 percent of total world production. Of this, around 200 Mt were consumed domestically, satisfying about 80 percent of South Africa’s energy needs. Main African coal deposits With 215 significant deposits and 108 Bt of current resources (Table  3.84), Africa is well endowed, particularly in terms of thermal coal. The continent hosts 68 operating mines, of which 36 are giant or major operations. Of the latter, five are giant thermal coal mines, two are giant mixed deposits, and the rest mostly thermal and subordinately TABLE 3.85  Coal producing countries in decreasing order of their 2023 production tonnages. Country Production 2023 (Mt) China 4710.0 India 1010.9 Indonesia 775.2 United States 526.5 Australia 455.8 Russia 432.5 South Africa 228.5 Kazakhstan 116.4 Germany 102.3 Poland 88.7 Mongolia 83.2 Turkey 66.4 Colombia 54.5 Canada 48.6 Vietnam 48.2 Source: Modified from World Population Review, 2024. 144 | MINERAL RESOURCES OF AFRICA mixed (four), coking (two), and lignite (one) operations. The giant and major coal mining operations are listed in Table 3.86. Most of the largest deposits are located in Southern Africa and are hosted in the Ecca Group, a stratigraphic unit in the Karoo Supergroup that contains over a third of the coal reserves in the entire southern hemisphere. In addition, there is an extensive pipeline of 127 yet to be developed deposits including, as shown in Table 3.87, 25 giant and 45 major deposits. Only the most prominent of these are shown in the table. TABLE 3.86  Operating coal mines in Africa. MINE Country Size Tier Pre-Mining Resource Thermal MORUPULE Botswana Giant 3 2287 Mt IMPUMELELO South Africa Giant 3 1296 Mt KHUTALA COLLIERY South Africa Giant 3 1331 Mt MATLA COLLIERY South Africa Giant 2 1018 Mt MIDDELBURG South Africa Giant 2 850 Mt MCHENGA COLLIERY Malawi Major 3 [est. 200 to 1000 Mt] ARNOT South Africa Major 3 373 Mt GOEDEGOVONDEN South Africa Major 3 552 Mt IMPUNZI COMPLEX South Africa Major 3 425 Mt KHWEZELA South Africa Major 3 204 Mt KOORNFONTEIN South Africa Major 3 350 Mt KRIEL South Africa Major 3 610 Mt MAFUBE COLLIERY South Africa Major 3 202 Mt NEW DENMARK South Africa Major 3 305 Mt NEW VAAL South Africa Major 3 453 Mt PENUMBRA COLLIERY South Africa Major 3 [est. 200 to 1000 Mt] SAVMORE COLLIERY South Africa Major 3 [est. 200 to 1000 Mt] SCHOONGEZICHT South Africa Major 3 [est. 200 to 1000 Mt] SHANDUKA South Africa Major 3 532 Mt SPITZKOP COLLIERY South Africa Major 3 [est. 200 to 1000 Mt] TSELENTIS COLLIERY South Africa Major 3 [est. 200 to 1000 Mt] TWEEFONTEIN South Africa Major 3 1142 Mt TWISTDRAAI COLLIERY South Africa Major 3 423 Mt WOLVEKRANS South Africa Major 3 [est. 200 to 1000 Mt] ZIBULO South Africa Major 3 690 Mt NGAKA Tanzania Major 3 359 Mt MAAMBA Zambia Major 3 213 Mt HWANGE Zimbabwe Major 3 323 Mt GOEDEHOOP South Africa Major 3 [est. 200 to 1000 Mt] (continues) 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 145 TABLE 3.86  Operating coal mines in Africa. (Continued) MINE Country Size Tier Pre-Mining Resource Mixed MOATIZE (VALE) Mozambique Giant 1 963 Mt GROOTEGELUK South Africa Giant 1 4815 Mt CHIRODZI Mozambique Major 3 706 Mt LEEUWPAN South Africa Major 3 145 Mt Coking SOMKHELE COLLIERY South Africa Major 3 [est. 100 to 500 Mt of coal] TSHIKONDENI South Africa Major 3 [est. 100 to 500 Mt of coal] Lignite MWABVI COLLIERY Malawi Major 3 [est. 400 to 2000 Mt of coal] TABLE 3.87  Main undeveloped coal deposits in Africa. DEPOSIT Country Size Tier Stage Pre-Mining Resource Thermal LEANDRA NORTH South Africa Giant 2 Advanced Exploration 1799 Mt LEANDRA SOUTH South Africa Giant 2 Advanced Exploration 1080 Mt SESE Botswana Giant 2 Feasibility Study 4395 Mt MASAMA Botswana Giant 3 Advanced Exploration 2800 Mt CHAPUDI South Africa Giant 3 Advanced Exploration 6399 Mt VERLOREN VALEY South Africa Giant 3 Advanced Exploration 1314 Mt SESAMI-KAONGA Zimbabwe Giant 3 Advanced Exploration 1000 Mt MMAMABULA Botswana Giant 3 Feasibility Study 2436 Mt MMAMANTSWI Botswana Giant 3 Feasibility Study 1243 Mt MORUPULE SOUTH Botswana Giant 3 Feasibility Study 2451 Mt NCONDEZI Mozambique Giant 3 Feasibility Study 5557 Mt WATERBERG South Africa Giant 3 Feasibility Study 3400 Mt SENGWA Zimbabwe Giant 3 Feasibility Study 1361 Mt MMAMABULA WEST Botswana Giant 3 Pre-Feas/Scoping 2433 Mt TAKATOKWANE Botswana Giant 3 Pre-Feas/Scoping 6884 Mt TAKATOKWANE SOUTH Botswana Giant 3 Pre-Feas/Scoping 2654 Mt WATERBERG NORTH South Africa Giant 3 Pre-Feas/Scoping 2253 Mt LUSULU Zimbabwe Giant 4 Advanced Exploration 110 Mt KWENENG (COAL GAS) Botswana Giant 4 Advanced Exploration 2159 Mt MOIYABANA Botswana Major 3 Advanced Exploration 768 Mt SECHABA Botswana Major 3 Advanced Exploration 1140 Mt AMERSFOORT COAL South Africa Major 3 Advanced Exploration [est. 200 to 1000 Mt] (continues) 146 | MINERAL RESOURCES OF AFRICA TABLE 3.87  Main undeveloped coal deposits in Africa. (Continued) DEPOSIT Country Size Tier Stage Pre-Mining Resource CONSBREY South Africa Major 3 Advanced Exploration 292 Mt LEPHALALE South Africa Major 3 Advanced Exploration 588 Mt PAARDEKOP COAL South Africa Major 3 Advanced Exploration [est. 200 to 1000 Mt] ROODEPOORT COAL South Africa Major 3 Advanced Exploration [est. 200 to 1000 Mt] VAAL BASIN South Africa Major 3 Advanced Exploration 697 Mt WATERBERG SOUTH South Africa Major 3 Advanced Exploration 895 Mt WELTEVREDEN South Africa Major 3 Advanced Exploration 547 Mt KETEWAKA Tanzania Major 3 Advanced Exploration 291 Mt HANKANO Zimbabwe Major 3 Advanced Exploration 571 Mt SPRINGBOK FLATS South Africa Major 3 Advanced Exploration 1340 Mt NTENDEKA COLLIERY South Africa Major 3 Development/ Construction 242 Mt MABESEKWA Botswana Major 3 Feasibility Study 303 Mt SAKOA Madagascar Major 3 Feasibility Study 1000 Mt ROODEKOP COAL South Africa Major 3 Feasibility Study [est. 200 to 1000 Mt] MOOKANE DOMESTIC Botswana Major 3 Feasibility Study [est. 200 to 1000 Mt] NEW LARGO South Africa Major 3 Feasibility Study 585 Mt UNION South Africa Major 3 Feasibility Study [est. 200 to 1000 Mt] MASSABI Zimbabwe Major 3 Feasibility Study [est. 200 to 1000 Mt] MCHUCHUMA Tanzania Major 3 Pre-Feas/Scoping 536 Mt ARANOS BASIN COAL Namibia Major 3 Unknown [est. 200 to 1000 Mt] Mixed BOIKARABELO South Africa Giant 2 Feasibility Study 3456 Mt MOATISE/MUCANHA Mozambique Giant 3 Advanced Exploration 3935 Mt NORTH SHORE Mozambique Giant 3 Feasibility Study 1350 Mt REVUBOE Mozambique Giant 3 Feasibility Study 1396 Mt ZAMBEZE Mozambique Giant 3 Feasibility Study 1988 Mt THABAMETSI South Africa Giant 3 Feasibility Study 1019 Mt BERENICE-CYGNUS South Africa Major 3 Advanced Exploration 1350 Mt GENERAAL South Africa Major 3 Feasibility Study 407 Mt MAKHADO South Africa Major 3 Feasibility Study 758 Mt LUBU Zimbabwe Major 3 Feasibility Study 786 Mt 1165L Mozambique Major 4 Advanced Exploration 360 Mt MEA Botswana Major 4 Pre-Feas/Scoping 336 Mt LUBIMBI Zimbabwe Major 4 Pre-Feas/Scoping 550 Mt Coking SOMERVILLE COAL South Africa Major 4 Advanced Exploration [est. 100 to 500 Mt] 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 147 Uranium General considerations and uses Uranium (symbol U, atomic number 92, main (99.2 percent) isotope mass 238.0) is a weakly radioactive, silvery-gray metal in the actinide series of the periodic table. The main use of uranium is in fuel rods for nuclear power generation. Its Uranium-235 isotope finds application in nuclear weapons. Depleted uranium, a byproduct of the enrichment process, is used as a radiation shield in medicine, research, and transportation, although it is itself mildly radioactive. Uranium minerals The major primary ore minerals are uraninite (UO2), pitchblende (U2O5.UO3) and the silicate coffinite (U(SiO4)1−x(OH)4x), but a variety of other uranium minerals are associated with particular type of deposits. These include compounds of uranium with vanadium such as carnotite, commonly found in calcrete deposits; with titanium like brannerite, the main mineral in the Olympic Dam iron oxide breccia; with niobium and REE in the euxenite-fergusonite-samarskite group; and a range of secondary mineral of lesser economic importance. Deposit types Although uranium deposits can be grouped into 15 major types based on their geological setting, the bulk (approximately 75 percent) of the U supply comes from three types, namely: • Sandstone: Uranium is precipitated, mostly as uraninite and coffinite, in reducing environments within continental fluviatile sediments at their base or in tabular bodies within the sequence (for example, Akouta, Arlit, and Imouraren in Niger). Alternatively, uranium precipitated in roll-fronts as in the important deposits of Kazakhstan or adjacent to faults as in the Franceville deposits of Gabon. • Unconformity: Trapping by Proterozoic unconformities of mineralized solutions flowing through an underlaying fractured basement promoted precipitation of the uraninite and pitchblende found in the important deposits in Canada and Northern Australia. • Iron-oxide breccia: Polymetallic (Cu, U, Au, Ag, REE and F) haematitic breccia complexes represent significant sources of uranium. An example is the Olympic Dam mine in South Australia which is the single largest deposit of uranium in the world, even though U is a byproduct of copper mining. Important uranium deposits are also associated with a variety of volcanic and intrusive rocks, as is the case at Rössing and Husab in Namibia and Palabora in South Africa; metamorphic and metasomatic processes; quartz-pebble conglomerates as in the auriferous Witwatersrand Basin of South Africa; and surficial primarily calcrete deposits, as for instance at Langer Heinrich in Namibia. In addition, less economically important occurrences of uranium are also found in association with lignite deposits, black shales, phosphate deposits, karst structures in carbonates, and collapse breccia in sandstones. Resources, reserves, and production considerations The most comprehensive source of information relating to uranium deposits is the International Atomic Energy Agency’s (IAEA, 2016) UDEPOI “World Distribution of Uranium Deposits” database, 148 | MINERAL RESOURCES OF AFRICA accessible on the internet. The database lists a total of 5224 known uranium deposits and occurrences throughout the world irrespective of their importance, and is searchable under a range of criteria including by type of deposit, range of size and grade, country, and status. Four hundred and ninety- seven of these deposits are listed as occurring in Africa. In terms of significant deposits, the MinEx database lists a total of 403 uranium deposits in the world, of which 65 are located in Africa. Table 3.88 provides the world and African primary and byproduct uranium resources and reserves. The World Nuclear Association (2024) reports that in 2022, global uranium metal production fell to a total of 49,355 metric tons of uranium, equivalent to 58,201 metric tons of U3O8 (mainly produced in Kazakhstan: 21,227 metric tons of uranium metal; and in Canada: 7,351 metric tons). Of this, 7,833 metric tons (or 15.9 percent) were produced in Africa, mostly in Namibia (which ranked third in the world with 5,613 metric tons), Niger (2,200 metric tons), and South Africa (200 metric tons). Main African uranium deposits Of the 65 significant uranium deposits located in Africa, 5 are giant. These include three operating mines—namely the Tier 1 Rossing (787 Mt at 0.28 Kg/t U3O8) and Tier 2 Husab (410 Mt at 0.54 Kg/t U3O8) mines in Namibia, both of which are related to anatectic granitic intrusions and related pegmatites, and the sandstone-hosted Tier 1 Somair mine (136 Mt at 1.6 Kg/t U3O8) in Niger. The other two giant deposits include the Tier 2 Imouraren deposit (254 Mt at 0.94 Kg/t U3O8) in Niger and the Letlhakane (822 Mt at 0.2 Kg/t U3O8) sandstone uranium deposit in Botswana, both of which are at the feasibility study stage. In addition, there are 15 deposits classified as major. Of these, two are currently operating mines (the Kloof Division Operations and the Moab Khotsong Uranium Operations); one is an undeveloped deposit in the Witwatersrand Basin; four are intrusion-related deposits in Namibia; and five are sandstone deposits including the Tier 1 high-grade Dasa deposit in Niger. The rest are mostly surficial calcrete deposits at various stages of advanced exploration to feasibility. The balance of the as-yet undeveloped projects in Table 3.90 are of moderate size at various stages from advanced exploration to feasibility, and include most genetic deposit types. TABLE 3.88  Significant uranium deposits in the world and in Africa, and their resources and reserves. Number of Pre-Mined Current MI&I Current P&P REGION Type Deposits Resource (Mt U3O8) Resource (Mt U3O8) Reserves (Mt U3O8) World Primary 403 11.76 8.24 2.23 Byproduct na 4.66 4.49 0.36 Total 403 16.42 12.74 2.59 Africa Primary 65 2.61 2.13 0.51 Byproduct na 0.38 0.33 0.00 Total 65 2.99 2.47 0.52 Africa as % of World Total 16.1% 18.2% 19.4% 20.0% 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 149 TABLE 3.89  Operating uranium mines in Africa. MINE Country Size Tier Pre-Mining Resource Metals Placer/Alluvial - Quartz-Pebble Conglomerate KLOOF DIVISION - URANIUM South Africa Major 3 498 Mt @ 0.06kg/t U3O8 U3O8, Au MOAB KHOTSONG - URANIUM South Africa Major 3 32.6 Mt @ 0.88kg/t U3O8 U3O8, Au Sandstone Tabular SOMAIR U OPERATION Niger Giant 1 136 Mt @ 1.61kg/t U3O8 U3O8 TEGUIDDA Niger Moderate 3 3.75 Mt @ 2kg/t U3O8 U3O8 Intrusion Related - Anatectic HUSAB Namibia Giant 2 410 Mt @ 0.54kg/t U3O8 U3O8 ROSSING Namibia Giant 1 787 Mt @ 0.28kg/t U3O8 U3O8, REE TABLE 3.90  Undeveloped uranium deposits in Africa, grouped by their different genetic types. DEPOSIT Country Size Tier Stage Pre-Mining Resource Intrusion-related TUBAS Namibia Major 3 Advanced Exploration 201 Mt @ 0.26kg/t U3O8 ETANGO Namibia Major 3 Feasibility Study 547 Mt @ 0.21kg/t U3O8 VALENCIA Namibia Major 3 Feasibility Study 185 Mt @ 0.21kg/t U3O8 ONGOLO Namibia Moderate 3 Pre-Feas/Scoping 227 Mt @ 0.18kg/t U3O8 TIMAGAIONE Algeria Moderate - Undeveloped Deposit 11.8 Mt @ 1.23kg/t U3O8 ANOMALY No.18 Namibia Moderate - Advanced Exploration 50 Mt @ 0.23kg/t U3O8 IDA DOME Namibia Moderate - Advanced Exploration 53.3 Mt @ 0.21kg/t U3O8 MS7 Namibia Moderate - Advanced Exploration 34.5 Mt @ 0.21kg/t U3O8 NAMIBPLAAS Namibia Moderate - Advanced Exploration 106 Mt @ 0.2kg/t U3O8 INCA Namibia Moderate - Pre-Feas/Scoping 36.6 Mt @ 0.27kg/t U3O8 Metamorphic FIRAWA Guinea Moderate - Advanced Exploration 30.3 Mt @ 0.3kg/t U3O8 MALUNDWE Zambia Moderate - Pre-Feas/Scoping 9 Mt @ 0.87kg/t U3O8 + Au, Cu ABANKOR Algeria Moderate - Undeveloped Deposit 2.86 Mt @ 3.91kg/t U3O8 TINEF Algeria Moderate - Undeveloped Deposit 17.3 Mt @ 0.8kg/t U3O8 KITONGO Cameroon Moderate - Advanced Exploration 13.1 Mt @ 1kg/t U3O8 A238 Mauritania Moderate - Advanced Exploration 45.2 Mt @ 0.24kg/t U3O8 ALIO GHELLE Somalia Moderate - Undeveloped Deposit 7.04 Mt @ 0.9kg/t U3O8 Placer, Alluvial - Quartz-Pebble Conglomerate BEISA South Africa Major 3 Past Producer - Under Study 71.2 Mt @ 0.59kg/t U3O8 + 1.82g/t Au DENNY DALTON South Africa Moderate - Advanced Exploration 31.5 Mt @ 0.35kg/t U3O8 + Au BEISA NORTH South Africa Moderate - Advanced Exploration 27.9 Mt @ 0.78kg/t U3O8 + Au (continues) 150 | MINERAL RESOURCES OF AFRICA TABLE 3.90  Undeveloped uranium deposits in Africa, grouped by their different genetic types. (Continued) DEPOSIT Country Size Tier Stage Pre-Mining Resource Sandstone IMOUREAREN Niger Giant 2 Feasibility Study 254 Mt @ 0.94kg/t U3O8 LETLHAKANE Botswana Giant 3 Pre-Feas/Scoping 822 Mt @ 0.2kg/t U3O8 DASA Niger Major 1 Development/ Construction 14.5 Mt @ 5.01kg/t U3O8 MADAOUELA Niger Major 2 Feasibility Study 43.9 Mt @ 1.29kg/t U3O8 MKUJU RIVER Tanzania Major 3 Feasibility Study 241 Mt @ 0.29kg/t U3O8 KAROO South Africa Major - Pre-Feas/Scoping 18.5 Mt @ 1.1kg/t U3O8 + Mo SPRINGBOK FLATS South Africa Major 4 Stalled - Economic 218 Mt @ 0.45kg/t U3O8 BAGOMBE Gabon Moderate - Advanced Exploration 2 Mt @ 3.2kg/t U3O8 FALEA Mali Moderate - Advanced Exploration 15.7 Mt @ 0.89kg/t U3O8 + 42g/t Ag + 0.18% Cu AGADEZ Niger Moderate - Advanced Exploration 31.1 Mt @ 0.31kg/t U3O8 DAJY Niger Moderate - Advanced Exploration 13.1 Mt @ 0.68kg/t U3O8 ISAKANAN Niger Moderate - Advanced Exploration 17.2 Mt @ 0.9kg/t U3O8 MIKOLONOGOU Gabon Moderate - Advanced Exploration 1.24 Mt @ 4.48kg/t U3O8 MUTANGA (CAMP) Zambia Moderate - Feasibility Study 57.6 Mt @ 0.35kg/t U3O8 KARIBA Zambia Moderate - Pre-Feas/Scoping 16.4 Mt @ 0.38kg/t U3O8 DUBENA BASIN Congo (DRC) Moderate - Undeveloped Deposit [est. 5 to 25 Kt of U3O8] + lignite Surficial TIRIS Mauritania Major 3 Feasibility Study 113 Mt @ 0.24kg/t U3O8 + V BAKOUMA CAR Major 3 Feasibility Study 15 Mt @ 2.83kg/t U3O8 + P2O5 MARENICA Namibia Major 4 Pre-Feas/Scoping 299 Mt @ 0.09kg/t U3O8 Heavy minerals sands (ilmenite, rutile, zircon) This section covers the following heavy minerals of titanium (ilmenite and rutile) and of zirconium (zircon). General characteristics and uses The heavy minerals in mineral sands deposits—ilmenite, rutile, and zircon—are the main sources of the following elements: • Titanium (symbol Ti, atomic number 22, and mass 47.9), a silvery, low density, and high strength transition metal, highly resistant to corrosion. Being tough but lightweight, titanium metal and/or its alloys with aluminum, molybdenum, and other metals find application in the aeronautical industry, in sports equipment, and in some architectural and artistic uses due to their appealing appearance. Besides being strong and resisting corrosion, titanium is also biocompatible and as a consequence is widely used in a variety of medical implants. Quantitatively, however, most of the altered form of TiO2 is traditionally used as a pigment that enhances brightness and opacity in paints and inks, paper, and plastics. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 151 FIGURE 3.25  Location map of heavy mineral sands, fertilizers, and specialty minerals (tantalum, tin, and tungsten) in Africa. Note: The diameter of symbols reflects the size of individual deposits. • Zirconium (symbol Zr, atomic number 40, and mass 91.2), a strong, malleable, gray-white transition metal with affinity to hafnium and extremely resistant to heat and corrosion. On account of the last two properties, Zr is used in alloying, as a refractory and also in ceramics as an opacifier. Zr also finds application in superconductors, particularly when alloyed with niobium. Heavy minerals The main heavy minerals (HM) (with density of between 4 and 5.5 g/cm3) found in mineral-sand deposits include: • the titanium minerals ilmenite (FeTiO3) and its altered form leucoxene, and rutile (TiO2), with titanium dioxide less frequently found in minerals such as anatase and brookite; • the zirconium mineral zircon (ZrSiO4); and • the rare earth mineral monazite, the most common species of which is the cerium-rich (Ce), (Ce,La,Nd,Th) PO4 and garnet that will be discussed lower down in this chapter. 152 | MINERAL RESOURCES OF AFRICA Heavy minerals deposit types There are essentially two types of heavy minerals deposits: • Magmatic: Accumulations of ilmenite and hemo-ilmenite (ilmenite with extensive hematite exsolution lamellae), as well as of rutile, titano-magnetite (sometimes vanadiferous), magnetite, and apatite are frequently the product of magmatic differentiation and selective crystallization within cooling gabbro-norite-anorthosite intrusions, mostly of Precambrian age. By contrast, zircon generally formed within granitic intrusions and subject in some cases to later hydrothermal remobilization. A small proportion of heavy mineral production is derived from this type of deposit. • Ilmenite, rutile and zircon detrital crystals are highly resistant to corrosion. After being liberated by erosion they persist and are transported and winnowed by fluvial and marine currents, forming placer deposits in both shoreline marine and alluvial terraces. The overwhelming proportion of heavy minerals production is derived from this type of detrital deposits. Resources, reserves, and production considerations As shown in Table 3.91, the MinEx database lists a total of 224 significant mineral sands deposits in the world, of which 33 are located in Africa. Current world resources stand at 1,706 Mt of total mineral sand (TMS) (that is ilmenite, rutile and zircon), 67 percent of which (1,148 Mt) are contained in African deposits. By contrast, the 2023 reserves estimates in the USGS’s Mineral Commodity Summaries are broken down in Table 3.92 into the three individual minerals. It will be noted that Africa dominates in terms of resources, but its percentages relative to world totals in terms of reserves is, with the exception of rutile, much lower. This is probably attributable to the fact that for a variety of reasons, a lower degree of delineation drilling to convert resources into reserves has taken place in recent years in Africa. In terms of 2023 production, Africa was important, accounting for 40 percent of world ilmenite production, particularly from South Africa and Mozambique (Table 3.92); 51 percent of rutile production, particularly from Sierra Leone and South Africa (Table 3.93); and 39.4 percent of zircon production, mostly from South Africa (Table 3.94). Main African heavy minerals deposits As shown in Table 3.95, the MinEx African database contains 34 active ilmenite-rutile-zircon deposits, all of which but one are placers (mainly shorelines), but also alluvial and the other orthomagmatic in origin. Seven deposits are giant in size, four of which under operation. These include the Tier 2 Moma mine in Mozanbique (8967 Mt at 2.71 percent THM); the Tier 1 Sierra Rutile mine in Sierra Leone (725 Mt TABLE 3.91  Heavy mineral sands deposits in the world and in Africa, and their resources and reserves. MinEx Database USGS Number of Pre-Mined MI&I Ilmenite Rutile Zircon Deposits Resource [Mt TMS] Resource [Mt TMS] (Mt) (Mt) (Mt) World 224 2,280.7 1,700.6 694.8 54.7 73.6 Africa 33 1,516.1 1,148.1 77.1 9.8 12.3 Africa as % of world total 39% 66% 68% 11% 18% 17% 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 153 TABLE 3.92  African ilmenite reserves and production in the world context, 2023. Africa Rest of the World Reserves (Kt) Production (Kt) Reserves (Kt) Production (Kt) Kenya 130 140 Australia 180,000 400 Madagascar 27,000 320 China 210,000 3,100 Mozambique 22,000 1,600 India 85,000 210 Senegal na 340 Brazil 43,000 54 South Africa 28,000 1,000 Norway 37,000 430 Canada 52,000 500 Ukraine 5,900 60 USA 2,000 200 Vietnam 1,600 140 Other 1,200 110 Africa Total 77,130 3,400 ROW Total 617,700 5,204 As % of World Total 11% 40% 89% 60% World Total 694,830 8,604 Source: Modified from USGS’s Mineral Commodity Summaries, 2024. of ore at 1.02 percent rutile, 0.23 percent ilmenite and 0.09 percent zircon); the Tier 1 Richard Bay mine in South Africa (>700 Mt at approximately 5 percent THM); and the Tier 2 Mandena mine (1909 Mt @4.26 percent THM) in Madagascar. Prominent among the undeveloped deposits are the Tier 3 Corridor Sands (2394 Mt at 5.02 percent THM) and Moese (2021 Mt at 3,55 percent THM) deposits, and the giant Tier 1 Kaisya rutile deposit (1809 Mt at 1.0 percent rutile and 1.4 percent graphite) in Malawi. In addition, there are two major mines and five major undeveloped deposits ranging between Tier 2 and Tier 3, and a multitude of undeveloped deposits of moderate size. TABLE 3.93  African rutile reserves and production in the world context, 2023. Africa Rest of the World AFRICA Reserves (Kt) Production (Kt) Reserves (Kt) Production (Kt) Kenya 70 58 Australia 35,000 200 Mozambique 720 9 India 7,400 13 Senegal na 8 Ukraine 2,500 50 Sierra Leone 2,900 110 Other 20 10 South Africa 6,100 100 Africa Total 9,790 285 ROW Total 44,920 273 As % of World Total 18% 51% 82% 49% World Total 54,700 558 Source: Modified from USGS’s Mineral Commodity Summaries, 2024. 154 | MINERAL RESOURCES OF AFRICA TABLE 3.94  African zircon reserves and production in the world context, 2023. Africa Rest of the World Reserves (Kt) Production (Kt) Reserves (Kt) Production (Kt) Kenya 18 30 Australia 55,000 500 Madagascar 2,300 30 China 72 140 Mozambique 1,500 90 Indonesia na 90 Senegal 2,600 50 USA 500 100 Sierra Leone 290 30 Other 5,700 140 South Africa 5,600 400 Africa Total 12,308 630 ROW Total 61,272 970 As % of World Total 16.7% 39.4% 83.3% 60.6% WORLD TOTAL 73,580 1,600 Source: Modified from USGS’s Mineral Commodity Summaries, 2024. TABLE 3.95  Main African heavy mineral sands deposits. Country Size Tier Pre-Mining Resource Metals Operating Mine - Primarily Ilmenite Placer MOMA Mozambique Giant 2 8967 Mt @ 2.71% HM Ti, Zr, REE, Th SIERRA RUTILE Sierra Leone Giant 2 6.91 Mt Rutile + 4.44 Mt Ilmenite + 0.70 Mt Zircon TiO2, HMS, Zr RICHARDS BAY South Africa Giant 1 [>700 Mtof HM] Ti, REE, Th MANDENA Madagascar Giant 2 1909 Mt @ 3.95% Ilmenite + 0.19% Zircon Ti, Zr, REE, Th GRANDE CÔTE Senegal Giant 2 4283 Mt @ 1.20% HM HMS, Zr, TiO2, Ilmenite NAMAKWA South Africa Major 2 972 Mt @ 6.30% HM HMS, Ilmenite, Zr LAKE BURULLUS Egypt Moderate - 239 Mt @ 3.39% HM + 193 ppm REO Ti, REE, Th KWALE Kenya Moderate - 4.8 Mt Ilmenite + 0.9 Mt Rutile Ti, Zr ANGOCHE Mozambique Moderate - 124 Mt @ 0.40% HM Ti,Zr, REE, Th QUELEMANE Mozambique Moderate - 520 Mt @ 4.50% HM Ti,Zr, REE, Th FAIRBREEZE South Africa Moderate - 925 Mt @ 4.8% HM Ilmenite, Zr, HMS TORMIN South Africa Moderate - 283 Mt @ 10.84% HM Ti, Zr, Garnet UNDEVELOPED DEPOSIT Primarily Ilmenite Placer MOEBASE Mozambique Giant 3 2021 Mt @ 3.55% HM Ti,Zr, REE, Th CORRIDOR SANDS Mozambique Giant 3 2394 Mt @ 6.92% HM Ilmenite, HMS, TiO2, REE KOKO MASSAVA Mozambique Major 3 1423 Mt @ 5.20% HM Ilmenite, HMS, TiO2, REE KILIFI Kenya Major 3 2113 Mt @ 2.70% HM Ti, Zr ROTIFUNK Sierra Leone Major 3 370 Mt @ 0.49% Rutile HMS, Zr, TiO2, Rutile, Ilmenite (continues) 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 155 TABLE 3.95  Main African heavy mineral sands deposits. (Continued) Country Size Tier Pre-Mining Resource Metals SEMBEHUN Sierra Leone Major 3 508 Mt @ 3.3% HM TiO2, HMS, Zr TOLIARA Madagascar Major 3 1293 Mt @ 5.10% HM HMS, Ilmenite, Zr MUTAMBA Mozambique Major 3 4345 Mt @ 3.85% HM Ti, Zr, REE, Th VIPINGO Kenya Moderate - 500 Mt @ 1.40% HM Ti, Zr GBAP Sierra Leone Moderate - 62 Mt @ 3.5% HM TiO2, HMS, Zr PORT DUNFORD South Africa Moderate - 985 Mt @ 2.86% HM Ti, Zr MAMBRUI Kenya Moderate - 749 Mt @ 3.66% HM Ti, Zr TOSCANINI Namibia Moderate - [est. 50 to 150 Mt of HM] Ti, REE, Th CONGOLONE Mozambique Moderate - 167 Mt @ 3.30% HM Ti, Zr, REE, Th HILLANDALE South Africa Moderate - [est. 50 to 50 Mt of HM] Ilmenite, Zr, HMS Primarily Rutile Placer KASIYA Malawi Giant 1 1809 Mt @ 1.00% Rutile + 1.4% C (graphite) TiO2, C, Graphite AKONOLINGA Cameroon Major 4 163 Mt @ 1.15% Rutile TiO2, Zr EDEA-KRIBI Cameroon Moderate - [est. 0.1 to 1 Mt of Rutile] TiO2, Zr Primarily Zircon TANTALUS (Orthomagmatic) Madagascar Major 3 268 Mt @ 3.50% HM (including 0.13% Zircon) Zr, Ti, Nb, REE, U3O8 TANGA (Placer) Tanzania Major 3 - Zr, Ti Fertilizer minerals (phosphate rock, potash) Phosphate rock general characteristics and uses Phosphate rock, also called phosphorite, is a marine sedimentary rock of a non-detrital nature containing high levels of the element phosphorus (P), typically from 4 percent to 30 percent phosphorus pentoxide (P2O5). Phosphorus, together with nitrogen (N) and potassium (K), is an essential plant nutrient. Phosphate rock is the key ingredient in the manufacturing of mono-ammonium phosphate (MAP) and di-ammonium phosphate (DAP) fertilizers, the former containing 18 percent N and the latter 10 percent, making them suitable for different agricultural applications. Phosphate rock minerals Phosphorus in phosphate rock is contained principally in various forms of microcrystalline apatite (Ca5(PO4)3F) (cellophane) but also as hydroxyapatite (Ca5(PO4)3OH or Ca10(PO4)6(OH)2). Phosphate rock deposit types Essentially, phosphate rock deposits can be of two types: • sedimentary, formed by deposition of phosphate-rich materials in a non-detrital marine environment. The bulk (80 percent) of phosphate rock production is sourced from this type of deposits; or 156 | MINERAL RESOURCES OF AFRICA • igneous, where apatite is mainly associated with carbonatites and other mafic intrusions. Phosphate rock is mined mostly by surface methods using draglines and bucket wheel excavators for large deposits, and power shovels or earthmovers for smaller deposits. Underground mines use the room-and-pillar method, similar to coal mining. In 2013, phosphate rock was produced almost entirely from surface mines, with only one active underground mine in the world. Sedimentary phosphorite deposits can be very large and aerially extensive, covering tens of thousands of square kilometers. Most phosphate rock is beneficiated to a grade of at least 28 percent P2O5 by crushing, screening, washing and de-liming. Magnetic separation or flotation may be used in processing igneous ore. Resources, reserves, and production considerations The USGS (2024) reports that world resources of phosphate rock exceed 300 Bt, much of it in sedimentary marine phosphorite deposits in northern Africa and subordinately China, the Middle East, and the United States. Igneous deposits are exploited in Brazil, Canada, Finland, Russia, South Africa, and Zimbabwe. As shown in Table  3.96, Africa—at 15.8 Bt of P2O5, contained in about 49 Bt of phosphate rock (Table 3.97)—holds the bulk (59.5 percent) of the world reserves. Most of these are in Morocco. In terms of production, in 2023, China was the leader, followed by Morocco and Western Sahara and the USA (as shown in Table 3.97). The comparatively low rate of Northern African exploitation will over time result in a gradual increase in this region’s resources relative to the rest of the world. Main African phosphate rock deposits As shown in Table 3.98, Africa features 13 important phosphate rock mining operations, 10 of which are based on sedimentary deposits. This table also clearly shows Morocco’s dominance of the phosphate rock industry, with five operating mines including two super giant Tier 1 sedimentary deposits (Kourigba 27.3 Bt at 29.8 percent P2O5) and Youssoufia (8.9 Bt at 27.9 percent P2O5), two giant Tier 2 sedimentary deposits (Bou Craa and Side Chenane), and one giant Tier 2 carbonatite deposit Gantour (4.4 Bt at 29.7 percent P2O5). TABLE 3.96  Significant phosphate rock deposits in the world and in Africa, and their resources and reserves (Mt of P2O5). Number of Pre-Mined Current MI&I Current MI&I USGS 2023 Deposits Resource (Mt P2O5) Resource (Mt P2O5) Resource (Mt ore) Reserves (Mt ore) World 196 32,781 26,600 190,847 74,000 Africa 49 17,975 15,840 64,925 59,080 Africa as % of world total 25.0% 54.8% 59.5% 34.0% 79.8% Note: Excludes deposits where phosphate occurs as a byproduct. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 157 TABLE 3.97  Phosphate rock reserves and production in the world and in Africa, 2023. Africa Rest of the World Reserves 2023 Production 2023 Reserves 2023 Production 2023 (Mt) (Mt) (Mt) (Mt) Algeria 2,200.0 1.8 Australia 1,100.0 2.5 Egypt 2,800.0 4.8 Brazil 1,600.0 5.3 Morocco and Western Sahara 50,000.0 35.0 China 3,800.0 90.0 Senegal 50.0 2.5 Finland 1,000.0 1.0 South Africa 1,500.0 1.6 India 31.0 1.5 Togo 30.0 1.5 Israel 60.0 2.5 Tunisia 2,500.0 3.6 Jordan 1,000.0 12.0 Kazakhstan 260.0 2.0 Mexico 30.0 0.5 Peru 210.0 4.2 Russia 2,400.0 14.0 Saudi Arabia 1,400.0 8.5 Syria 250.0 0.8 Turkey 71.0 0.8 United States 1,000.0 20.0 Uzbekistan 100.0 0.9 Vietnam 30.0 2.0 Others 800.0 0.8 Africa total 59,080.0 50.8 ROW Total 15,142.0 169.3 Africa as % of world total 79.6% 23.1% 20.4% 76.9% World total 74,222.0 220.1 Other giant Tier 2 mining operations also occur in Togo (SN TP Operation: 2.3 Bt at 15.2  percent P2O5), Egypt (Abu Tartur mine: 1.1 Bt at 31 percent P2O5), Algeria (Djebel Onk mine: less than 150 Mt of contained P2O5),Tunisia (Gafsa mine: less than 150 Mt of contained P2O5), and South Africa (Foscor mine: 8.6 Bt at 6.5 percent P2O5). Africa also contains several important undeveloped phosphate rock deposits as listed in Table 3.99, including the Tier 2 Super-Giant Meskala carbonatite deposit in Morocco containing 5 Bt at 32 percent P2O5, and four giant deposits in Namibia (Sandpiper), Togo (Kpeme), the Republic of Congo (Hinda), and Niger (Tapoa). Potash General characteristics and uses Potash is a generalized term covering various potassium compounds, both mined and manufactured, containing the element potassium (K) in water-soluble form. 158 | MINERAL RESOURCES OF AFRICA TABLE 3.98  Current phosphate rock mines in Africa. MINE Country Size Tier Pre-Mining Resource Sedimentary Deposits KHOURIBGA Morocco SuperGiant 1 27,332 Mt @ 29.8% P2O5 YOUSSOFIA Morocco SuperGiant 1 8,880 Mt @ 27.91% P2O5 BOU CRAA Morocco Giant 2 688 Mt @ 32% P2O5 SIDI CHENANE Morocco Giant 2 est. > 150 Mt of P2O5 SNTP OPERATION Togo Giant 2 2,262 Mt @ 15.23% P2O5 ABU TARTUR Egypt Giant 2 1,048 Mt @ 31% P2O5 DJEBEL ONK Algeria Giant 2 est. > 150 Mt of P2O5 GAFSA Tunisia Giant 3 est. > 150 Mt of P2O5 THIES Senegal Major 3 est. 30 to 150 Mt of P2O5 HAHOTOE- Ghana Moderate - est. 3 to 30 Mt of P2O5 TAIBA Senegal Moderate - est. 3 to 30 Mt of P2O5 Carbonatite Deposits GANTOUR Morocco Giant 2 4,400 Mt @ 29.72% P2O5 DOROWA Zimbabwe Moderate - 78 Mt @ 6.56% P2O5 Skarn Deposits FOSKOR MINE South Africa Giant 3 8,581 Mt @ 6.48% P2O5 Potash, primarily as potassium chloride (KCl or sylvite) containing an average 61  percent of K2O equivalent, and the manufactured potassium sulfate of potash (SOP) (K2SO4), which may include Mg, are the main fertilizer products. Potassium has no substitute for its fertilizer application. Potash minerals The main potash-bearing minerals include sylvite (KCl), carnallite (KMgCl3 6H2O), polyhalite (K2Ca2Mg(SO4)4·2H2O), kainite (KCl MgSO4 3H2O) and leonite (K2SO4 MgSO4 4H2O). Potash deposit types Potash is sourced essentially from two types of deposits: • Rock salt deposits, occurring in large quantities throughout the world and containing a mixture of the potassium chloride sylvinite (KCl) and sodium chloride halite (NaCl), crystallized from the evaporation of ancient seawater up to millions of years ago. Most potash for fertilizer is derived by separating sylvinite from salt and other minerals and impurities to manufacture it as a fertilizer for direct agricultural application. • Brines in evaporitic lacustrine sediments and salt lakes. These rarely contain both potassium and sulfate suitable for the production of potassium sulfate of potash (SOP) fertilizer. 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 159 TABLE 3.99  Main undeveloped phosphate rock deposits in Africa. DEPOSIT Country Size Tier Stage Pre-Mining Resource Sedimentary SANDPIPER Namibia Giant 3 Feasibility Study 1835 Mt @ 19.04% P2O5 KPEME Togo Giant 2 Feasibility Study 2000 Mt @ 15% P2O5 HINDA Congo, Rep. Giant 2 Feasibility Study 676 Mt @ 10% P2O5 TAPOA Niger Giant 4 Undeveloped Deposit 1250 Mt @ 23% P2O5 FARIM Guinea Bissau Major 3 Feasibility Study 143 Mt @ 28.24% P2O5 ELANDSFONTEIN South Africa Major 3 Pre-Feas/ Scoping 1289 Mt @ 10.46% P2O5 CHIBUETE Angola Moderate Advanced Exploration 149 Mt @ 8.3% P2O5 MONGO TANDO Angola Moderate Advanced Exploration 209 Mt @ 8.42% P2O5 BOFAL-LOUBBOIRA Mauritania Moderate Advanced Exploration 100 Mt @ 19.75% P2O5 BIR EL AFOU Tunisia Moderate Advanced Exploration 29 Mt @ 11.1% P2O5 BASSAR Togo Moderate Advanced Exploration 22 Mt @ 22% P2O5 CHAKETMA Tunisia Moderate Feasibility Study 130 Mt @ 20.5% P2O5 CACATA Angola Moderate Pre-Feas/ Scoping 27 Mt @ 17.66% P2O5 TILEMSI Mali Moderate Pre-Feas/ Scoping 50 Mt @ 24.29% P2O5 MEOB PHOSPHATE Namibia Moderate Pre-Feas/ Scoping 116 Mt @ 14.14% P2O5 TAMAGUELELT Mali Moderate Undeveloped Deposit 11.5 Mt @ 28.5% P2O5 JEBEL KURUN Sudan Moderate Undeveloped Deposit [estimated 3 to 30 Mt of P2O5] KANZI Congo, Dem. Rep. Moderate Feasibility Study 58.5 Mt @ 14.2% P2O5 KODJARI Burkina Faso Moderate Undeveloped Deposit 63 Mt @ 20% P2O5 FUNDU NZOBE Congo, Dem. Rep. Moderate Undeveloped Deposit 70 Mt @ 15% P2O5 BIKILAL Ethiopia Moderate Undeveloped Deposit 180 Mt @ 3.5% P2O5 EVATE Mozambique Moderate Undeveloped Deposit 155 Mt @ 9.32% P2O5 MONTE MUANDE Mozambique Moderate Undeveloped Deposit [estimated 3 to 30 Mt of P2O5] MATAM Senegal Moderate Undeveloped Deposit [estimated 3 to 30 Mt of P2O5] MEKROU Benin Moderate Unknown [estimated 3 to 30 Mt of P2O5] Carbonatite MESKALA Morocco Super-Giant 2 Undeveloped Deposit 5000 Mt @ 32% P2O5 GLENOVER South Africa Moderate 3 Feasibility Study 32.8 Mt @ 9.36% P2O5 + 1.25%REO LACUNGA Angola Moderate Pre-Feas/ Scoping [estimated 3 to Mt of P2O5] BINGO Congo, Dem. Rep. Moderate Undeveloped Deposit [estimated 3 to 30 Mt of P2O5] 160 | MINERAL RESOURCES OF AFRICA Resources, reserves, and production considerations The MinEx database records 101 significant primary potash deposits around the world, with total current resources of potash expressed as K2O of over 24.7 Bt, including 659 Mt as byproduct (Table 3.100). The largest economic resources of potash are in the Saskatchewan Province of Canada, followed by the Republic of Congo and Ethiopia. Important brine deposits occur in endorheic evaporitic basins in the Qinghai Province of China and in the Dallol and Danakil depression near the Ethiopian-Eritrean border. In 2023 Canada was the largest producer followed by Russia and China (Table 3.101). Main African potash deposits As shown in Table 3.102, Africa hosts some very important undeveloped potash deposits, including two giant Tier 2 in situ leaching deposits in Ethiopia (the Dallol deposit [3.6 Bt at 10.9 percent K2O] and the Danakil deposit [5.4 Bt at 11.7 percent K2O]) in the homonymous depressions, as well as the similar Colluli deposit in Eritrea (1.3 Bt at 11.0 percent K2O). The giant Membo and Sintoukola Tier 3 deposits of the Republic of Congo (with resources of 1.5 Bt at 17.3 percent K2O and 6.1 Bt at 13.9 percent K2O respectively) also deserve mentioning for their comparatively high grades. This may prove a necessity given that their exploitation is most likely to take place by underground mining. TABLE 3.100  Significant potash deposits in the world and in Africa, and their resources and reserves. Pre- Mined Current MI&I Current P&P USGG 2023 Resource [Mt K2O] Resource [Mt K2O] Reserves [Mt K2O] Reserves [Mt K2O] World Primary 101 27,139 23,989 2,344 na Byproduct na 676 659 4 na Total 101 27,815 24,649 2,348 >3600 Africa Primary 10 2,560 2,481 268 na Byproduct na 2 2 0.1 na Total 10 2,562 2,483 268 na Africa as % of World total 9.9% 9.2% 10.1% 11.4% na 3. CURRENT AFRICAN MINERAL RESOURCES ENDOWMENT | 161 TABLE 3.101  World potash reserves and production, 2023. Africa Rest of the World Reserves (Kt K2O) Reserves (Kt K2O) Production (Kt K2O) Congo Rep. 1,107,047 Belarus 750,000 3,800 Ethiopia 1,017,991 Brazil 2,300 200 Gabon 182,051 Canada 1,100,000 13,000 Eritrea 141,790 Chile 100,000 600 Morocco 31,763 China 180,000 6,000 Germany 150,000 2,600 Israel Large 2,400 Jordan Large 1,800 Laos 75,000 1,400 Russia 650,000 6,500 Spain 68,000 600 USA 220,000 400 Others 300,000 400 Africa total 2,480,642 Kt Rest of world total 3,595,300 39,700 Kt As % of world total 40.8% 59.2% 100% World total 6,075,942 Kt 39,700 Kt Source: USGS’s Mineral Commodity Summaries, 2024). TABLE 3.102  Undeveloped potash deposits in Africa. DEPOSIT Country Size Tier Stage Pre-Mining Resource MENGO Congo (Republic of) Giant 3 Feasibility Study 1499 Mt @ 17.3% K2O + KCl + Mg SINTOUKOLA Congo (Republic of) Giant 3 Feasibility Study 6082 Mt @ 13.94% K2O DALLOL Ethiopia Giant 2 Pre-feas/Scoping 3564 Mt @ 10.89% K2O DANAKIL Ethiopia Giant 2 Feasibility Study 5386 Mt @ 11.7% K2O BANIO Gabon Giant 3 Advanced Exploration 1816 Mt @ 10.03% K2O LAC DINGA Congo (Republic of) Major 3 Advanced Exploration [est. 30 to 150 Mt K2O] COLLULI Eritrea Major 3 Feasibility Study 1289 Mt @ 11% K2O KHEMISSET Morocco Major 3 Feasibility Study 311 Mt @ 10.2% K2O HOLLE Congo (Republic of) Moderate - Closed Mine 9.4 Mt @ 27.7% K2O MBOUKOUMASSI Congo (Republic of) Moderate - Advanced Exploration [est. 3 to 30 Mt K2O] 162 | MINERAL RESOURCES OF AFRICA Chapter 3 Bibliography Albertin, Giorgia, Dan Devlin, and Boriana Yontcheva. 2021. “Countering tax avoidance in Sub-Saharan Africa’s mining sector”. IMF Blog, November 5, 2021. https://www.imf.org/en/Blogs/Articles/2021/11/05/ blog-countering-tax-avoidance-sub-saharan-africa-mining-sector Bivens, J. 2019. Updated employment multipliers for the U.S. economy. Washington, DC: Economic Policy Institute. https://epi.org/160282 “Canadian National Instrument 43-101 (20-16). Standards of disclosure for mineral projects”. Toronto, ON: Ontario Securities Commission. https://www.osc.gov.on.ca/en/15019.htm Frost-Killian S., S. Master, R.P. Viljoen, and M.G. Wilson. 2016. “The great mineral fields of Africa Introduction.” Episodes 39 (2): 85–103. https://doi.org/10.18814/epiiugs/2016/v39i2/95770 Globe Newswire. 2020. “World electric vehicles (ev) batteries and materials markets 2020–2025: structural EV demand growth to remain intact amid the COVID-19 outbreak”, press release. Market Insider, October 16, 2020. https://markets.businessinsider.com/news/stocks/world-electric-vehicles -ev-batteries-and-materials-markets-2020-2025-structural-ev-demand-growth-to-remain-intact -amid-the-covid-19-outbreak-1029687425 International Atomic Energy Agency (IAEA). 2016, including subsequent updating. “UDEPOI ‘World Distribution of Uranium Deposits’” database. Seibersdorf, Austria: IAEA. https://www-pub.iaea .org/MTCD/publications/PDF/TE_1629_CD/UDEPOSummaryTables.html International Tin Association. 2020. Global Resources and Reserves: Security of Long-term Tin Supply. 2020 Update. St Albans, UK: International Tin Association. https://www.internationaltin.org/wp-content/ uploads/2020/02/Global-Resources-Reserves-2020-Update.pdf Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy (JORC). 2012. Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The JORC Code 2012 Edition. Crows Nest, NSW and Canberra: JORC, Australian Institute of Geoscientists and Minerals Council of Australia. https://www.jorc.org/docs/JORC_code_2012.pdf Kuleshov, V.N. 2011. “Manganese Deposits: Communication 1. Genetic Models of Manganese Ore Formation”. Lithology and Mineral Resources 46(5): 473–493. https://doi.org/10.1134/S0024490211050038 Robert, F., K.H. Poulsen, and B. Dubé. 1997. “Gold deposits and their geological classification”. In Proceedings of Exploration 97: Fourth Decennial International Conference on Mineral Exploration, edited by A.G. Gubins, 209–220. https://www.911metallurgist.com/wp-content/uploads/2015/10/Gold -Deposits-and-Their-Geological-Classification.pdf South African Mineral Resource Committee (SAMREC). 2016. South African Code for the Reporting of Mineral Resources and Mineral Reserves (the SAMREC Code). Marshalltown, South Africa: SAMREC. https://www.samcode.co.za/codes/category/8-reporting-codes?download=231:202001_SAMREC%20 Code%20with%20Table%201 United States Geological Survey (USGS). 2024. Mineral Commodity Summaries 2024. Reston, VA: US Geological Survey. https://doi.org/10.3133/mcs2024 Frost-Killian, S., Master, S., Viljoen, R. P., & Wilson, M. G. C. (2016). The Great Mineral Fields of Africa, Introduction. Episodes, 39, 85–103. https://doi.org/10.18814/epiiugs/2016/v39i2/95770 World Bank. 2020. 2020 State of the Artisanal and Small-Scale Mining Sector. Washington, DC: World Bank. https://www.delvedatabase.org/uploads/resources/Delve-2020-State-of-the-Sector-Report -0504.pdf World Nuclear Association. 2024. “Uranium Production Figures, 2013–2022”. London: World Nuclear Association. https://world-nuclear.org/information-library/facts-and-figures/uranium-production -figures.aspx World Population Review. 2024. “Coal production by country 2024”. Lancaster, PA: World Population Review. https://worldpopulationreview.com/country-rankings/coal-production-by-country 4. MINERAL POTENTIAL OF AFRICA Global and African mineral exploration trends At the global level, as shown in Figure 4.1, exploration expenditures rose rapidly in the early 2000s, driven by high commodity prices associated with China’s increased demand for metals. World exploration expenditures peaked at $42.9 billion (in constant US dollars as of December 2023) in 2012, before falling by two-thirds to $13.3 billion by 2016. Expenditures have recovered slightly since then in post-Covid times, increasing to $15.9 billion in 2023. The outlook for exploration investment in the medium term is likely to remain subdued and uncertain—partly due to geopolitics—but is expected to improve in the longer term as a consequence of the significant increase in demand arising from the metal-intensity of the transition to clean energy necessary to achieve the target of zero CO2 emission by 2050. The exploration expenditures estimates used in this chapter were compiled by MinEx Consulting based on data from a range of sources, including government agencies in Australia, Canada, and China; the Organisation for Economic Cooperation and Development’s (OECD) reports on uranium resources, production and demand (the so-called Red Book); S&P Global Market Intelligence annual surveys of industry expenditures on non-ferrous exploration; and MinEx’s own estimates of expenditures on FIGURE 4.1  Exploration expenditures in dollars (as of December 2023) and mineral discoveries made in the world over the last 30 years, broken up by commodity. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. | 163 164 | MINERAL RESOURCES OF AFRICA ferrous and bulk mineral exploration. The raw world exploration expenditures and mineral discoveries data that formed the basis for the analysis that follows are provided in Appendix C. Figure 4.1 shows how most discoveries made in the world over the last 30 years have been primarily for gold and base metals, and recently for lithium. Schodde (2019) estimates that over the decade 2009–2018, 845 mineral discoveries of “moderate” size or larger were made in the world, with the proportion of moderate-size discoveries increasing over time from around 48 to 61  percent. There is no doubt that on average, the size of deposits being discovered is decreasing. But this trend may be somewhat biased as the resources of certain types of deposits tend to grow over time with progressive mine site exploration and delineation. Of the 845 world discoveries, 136 were of bulk minerals such as iron ore and bauxite. Only 19 out of the total discoveries were Tier 1 or World Class. Of these, four each were found in China and Australia, three in Africa, and two each in Canada, USA, and the Pacific / Southeast Asian region. It is also estimated that about 66 percent of the value of all discoveries is tied up in the Tier 1 and Tier 2 discoveries, even though they account for less than 8 percent in terms of the total number of discoveries. While Africa’s share of global exploration investment has more than halved over the last three decades (from 25 percent in 1998 to around 10 percent currently), its share of discoveries as a percentage of the total has significantly increased over the same period, including 116 discoveries over the last decade accounting for around 20 percent of the total 588 world discoveries in this period. According to S&P Global Market Intelligence (2020), in 2019 there were 258 exploration companies active in Africa, investing on average $4–5 million each. Indications are that the number has recently increased. Of these, about 30 percent are Canadian companies, 22 percent Australian, 20 percent from the UK, and 8 percent South African (S&P Global market Intelligence, 2023). It will be noted that in some of the graphs in this chapter, information relating to the last decade includes estimates of discoveries not yet formally reported, but about which a significant amount of information is already available in the public arena. This is in part due to the lag between exploration investment—often stretching over several campaigns and in some cases carried out by different companies—and the point where a reasonably quantified, formal discovery can be announced to the market under current listing rules. While gold remained the main focus for exploration, some of the 2023 exploration budget was redirected to lithium and copper. Nevertheless gold accounted for 20 percent of total exploration expenditures in the last decade, including 8 percent of all Tier 1 and 14 percent of all Tier 2 discoveries. As shown clearly in Figure 4.2, this focus on gold exploration is also evident in Africa, and accounts for most of the new discoveries in this continent in recent years. This is not surprising as gold discoveries have the capacity to provide relatively rapid returns on comparatively lower capital investments (due to their generally simpler metallurgy), and gold operations not requiring heavy ore or concentrate transportation facilities, particularly in land-locked countries. Until the 1980s, the major mining companies accounted for most of the discoveries, but over the last decade, junior explorers have accounted for 63  percent of all discoveries by number, as shown in 4. MINERAL POTENTIAL OF AFRICA | 165 FIGURE 4.2  Exploration expenditures and number of mineral discoveries in Africa over the last 30 years, broken up by commodity. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. Figure 4.3 for the African continent. It is important for African policy makers to bear this in mind, to ensure that the mining regulatory and fiscal regimes they put in place do not represent a disincentive for this sector of the exploration industry. The mineral endowment of Africa is huge and it is generally believed that the continent is underexplored, as pointed out by McKinsey (2013) and Cust and Harding (2020). As shown in Table 4.1, in the decade from 2014 to 2023 Africa only attracted 10  percent of the world total exploration expenditure, or roughly $13.6 billion. This would appear to be a significant under-investment given that the continent covers around 22 percent of the world land mass (excluding Antarctica), and that 116 (or 20 percent) of total world discoveries over the period were made in Africa, including 8 Tier 1 and Tier 2 deposits (14 percent of world total. Table  4.2 portrays the rate of success in mineral exploration in terms of discovery of deposits of various tier classifications over the longer historical period between 1960 and 2019. The choice of 1960 as a starting date is meaningful, in that it is the year when modern-style mineral exploration really took off. In part this was due to a perception of impending future scarcity of mineral resources, and in part to the strong post-Second World War economic stimulus. Table 4.2 shows that a total of 1078 mineral discoveries were made in the five different African regions over the period from 1960 to 2023, including 37 Tier 1, 96 Tier 2, 344 Tier 3 and 601 Tier 4 and undifferentiated deposits. It also clearly shows how the Southern and West Africa regions had the lion’s share of the mineral discoveries, with 386 and 351 respectively, including the bulk of the more valuable Tier 1 and 2 deposits. 166 | MINERAL RESOURCES OF AFRICA FIGURE 4.3  Number of mineral discoveries in Africa since 1900, broken up by type of exploration company. TABLE 4.1  Review of exploration expenditure and discovery of “significant” mineral deposits over the period 2014–2023. REGION Exploration Expenditure Number of Discoveries Tier 1 and 2 Discoveries $ Billion (as of December 2023) % Amount % Amount % Australia 19.0 14% 106 18% 13 22% Canada 20.8 16% 77 13% 10 17% USA 10.4 8% 39 7% 5 9% Latin America 29.3 22% 88 15% 9 16% Pacific/Southeast Asia 4.4 3% 10 2% 1 2% Africa 13.6 10% 116 20% 8 14% Western Europe 3.6 3% 18 3% 3 5% Former Soviet Union, Eastern Europe, and China 29.6 22% 123 21% 8 14% Rest of world 3.3 2% 11 2% 1 2% TOTAL 133.9 100% TOTAL 100% 58 100% Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. Note: Analysis includes bulk minerals but excludes satellite deposits found within existing camps. Number of discoveries refers to moderate-, major- and giant-sized deposits. No adjustment has been made for unreported discoveries. 4. MINERAL POTENTIAL OF AFRICA | 167 TABLE 4.2  Regional distribution of mineral discoveries in Africa over the period 1960–2023, broken up by Tier ranking. Mineral Disoveries 1960–2023 REGION Tier 1 Tier 2 Tier 3 Tier 41 Total West 10 32 103 206 351 North 0 2 8 38 48 East 2 11 50 113 176 Central 6 14 39 58 117 Southern 19 37 144 186 386 AFRICA TOTAL 37 96 344 601 1078 The geographical location of the discoveries made between 1960 and 2023 is captured later in this chapter in individual regional maps, included in each of the following regional sections. In these maps, the diameters of the circles denote the tier classification of deposits, decreasing from the most valuable Tier 1 deposits down to the Tier 4 and unclassified deposits. As for the previous endowment maps of Chapter 3, deposits were color coded into the seven main commodity groups, including gold; precious (PGE, silver, diamond and gemstones); base metals (copper, zinc, lead and nickel); uranium, mineral sands; bulk minerals (coal, iron ore, bauxite and phosphate rock); and others, covering a large variety of metallic and industrial minerals. The top of Table  4.3 compares the pre-mining African mineral endowment for seven selected commodities with that of the world at large and of the world excluding Africa. At 27 percent of total world endowment, the gold endowment exceeds the percentage of the African land area relative to that of the world (that is, 22 percent). Uranium is at 18 percent, and endowments for other commodities are far below. Given the general perception of Africa having a very high mineral potential, this may indicate inadequate exploration investment for these commodities in the continent. The bottom of Table 4.3 displays the average content per square kilometer for the same mineral commodities, both for the total African landmass and broken up into its regional components. The table emphasizes how Southern Africa exceeds the world mineral average for gold, nickel, uranium and coal on a per square kilometer basis, with West Africa ranking high for gold, uranium, and iron ore. The other regions were generally below the world averages for the various minerals. A key question is whether there is a way to estimate to what degree these differences are attributable to the mineral fertility of the geological terranes in the individual regions, as opposed to the amount of mineral exploration that has taken place to date in them; that is to say, their individual degrees of maturity. The degree of exploration maturity can be expected to be different in different areas within a region, being higher in well-established mineral producing regions such as the Bushveld Complex of Southern Africa and the Zambian-Congo Copperbelts. Surprisingly, world-class mineral discoveries continue to be made in these regions. For instance, the giant Ivanplats Platreef PGM deposit in the South African Bushveld Complex, the Kamoa-Kakula copper-cobalt sediment hosted stratiform deposit at the north-north-western Congolese extremity of the Copperbelt and, more recently, the KoBolt Metals’ Mingomba copper deposit in Zambia were discovered during the last decade. 168 | MINERAL RESOURCES OF AFRICA TABLE 4.3  Comparison of the mineral endowment of Africa, of its regions, and of the rest of the world, in terms of total pre-mining endowment and on a per square kilometer basis. Land Area Total Contained Metal km² oz Au t Cu t Ni t Zn 1 Pb Kt U3O8 t Coal t Fe WORLD 135,000,000 13,943.6 4,493.8 458.7 2,265.3 16,417.1 895,166 338,875 WORLD excluding Africa 104,790,000 10,210.2 4,123.5 414.3 2,157.2 13,429.5 769,981 290,847 North Africa 6,004,391 26 2.9 0.1 20.1 44.5 83 2,529 West Africa 6,059,346 666 2.3 5.9 1.2 818.9 1,697 21,506 Central Africa 5,721,140 101 167 6.0 13.6 168.3 - 8,755 East Africa 6,519,925 168 6.4 7.0 5.6 122.4 2,932 8,975 Southern Africa 5,909,614 2,772 191 25.5 67.4 1,833.4 120,473 6,262 TOTAL AFRICA 30,214,416 3,733 370 44.4 108.1 2,987.6 125,186 48,028 Africa as % of World 22% 27% 8% 10% 5% 18% 14% 14% Total Contained Metal per km2 oz Au t Cu t Ni t Zn 1 Pb kg U3O8 t Coal t Fe WORLD 103.3 33.3 3.4 16.8 121.6 6,631 2,510 WORLD excluding Africa 97.4 39.4 4.0 20.6 128.2 7,348 2,776 North Africa 4.4 0.5 0.0 3.3 7.4 14 421 West Africa 109.9 0.4 1.0 0.2 135.1 280 3,549 Central Africa 17.6 29.2 1.0 2.4 29.4 - 1,530 East Africa 25.8 1.0 1.1 0.9 18.8 450 1,377 Southern Africa 469.1 32.4 4.3 11.4 310.2 20,386 1,060 TOTAL AFRICA 123.6 12.3 1.5 3.6 98.9 4,143 1,590 Note: Land area for the World excludes 14,000,000 km2 for Antarctica. As a first step it will be useful to consider the amount of exploration expenditure that has actually taken place in the various regions (as shown in Figure 4.4) relative to the number of mineral discoveries that have been generated by it, as already illustrated in Figure 4.2. The graph in Figure 4.4 clearly shows that from the early 2000s, the amount of exploration investment in West Africa, Southern Africa, and Central Africa has been increasing significantly. In the last decade, the last two regions have attracted a lower but relatively steady level of investment. By contrast, exploration investment in North Africa and to some degree East Africa has been relatively modest, albeit reasonably steady over the same time horizon. In terms of discoveries in various regions of Africa, over the last 30 years, most were in West Africa and primarily for gold (Figure 4.5). It should be noted that, particularly in recent years, it takes time for a discovery to be drilled-out and formally reported. Based on an analysis of historical discovery data, the figures for Africa have been adjusted by MinEx Consulting to include a likely number of unreported 4. MINERAL POTENTIAL OF AFRICA | 169 FIGURE 4.4  Spread of exploration expenditures among the five African regions over the last 30 years. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. FIGURE 4.5  Mineral discoveries over the last 30 years in various African regions. 170 | MINERAL RESOURCES OF AFRICA discoveries. The rate of discovery in Africa appears to have slowed down in recent years in absolute terms and probably remained roughly steady on a per-dollar-invested basis. The comparative under-investment in some parts of Africa may have been the result of a combination of factors, including that some countries could not be properly explored for lack of adequate systematic, regional-scale geological mapping and scanty geoscientific databases. These are fundamental requirements for the mining industry to scan large tracts of territory to assess their geological potential and formulate exploration models and targets. This need was recognized early by the World Bank Group which has assisted African Geological Surveys and other research organizations to systematically collate legacy geoscientific data relating to their territory into modern geographic information systems (GIS), and to make these progressively available to potential investors. Another hindering factor has been the logistical difficulty in accessing densely forested equatorial areas and deserts in the northern part and elsewhere in the continent, which has been exacerbated by inadequate transport and other infrastructure. This affects not just exploration, but also the economic potential of possible mineral discoveries, other than for commodities such as gold and diamonds that are not heavily reliant on transport. Industry-unfriendly mining regulatory and fiscal regimes and, in some cases, persistent political instability and even active conflict have also had the effect of locking out vast areas of African territory to exploration. It is interesting to note that over the last decade, as shown in Figure 4.6, the average cost to make a significant mineral discovery in Africa was about 70 percent of the average for the rest of the world ($154 million versus $219 million in constant 2023 US dollars). This should represent a significant incentive to explore in the continent, notwithstanding some of the inhibiting factors discussed above. At a regional level, this measure of exploration efficiency falls within a broad range, from $55 million per discovery in East Africa to $339 million in Northern Africa. One could expect that, as exploration in East Africa represents good value for money, investment in this region should continue at a good rate or even increase. The same is true for West Africa, with a below- average cost of $108 million per discovery. With a few exceptions, in Africa the bulk of the large outcropping or near surface deposits may have already been found, mainly through conventional prospecting due to their easily detectible footprints. Consequently, the average unit cost of discovery may continue along its recent increasing trend, noting that for the 10-year period 2014–2023, this was roughly double that for the period 2010–2019. Mineral exploration in Africa needs now to enter a new and more sophisticated phase, as discussed later in this chapter and in Chapter 5. Exploration targeting will rely on sophisticated conceptual approaches to mineral systems, followed by deployment of highly advanced detection techniques, including greatly improved geochemical tools, in terms of their portability, lower detection limits and measurement times; advanced ground, down-hole and airborne geophysics with greater penetration, both in terms of depth and through conductive cover; and sophisticated data processing and visualization techniques, including use of artificial intelligence (AI), that facilitate data integration and interpretation in generating and selecting targets. 4. MINERAL POTENTIAL OF AFRICA | 171 FIGURE 4.6  Average cost of mineral discoveries in Africa over the last 10 years, broken up by regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. Mineral exploration will continue to be cyclical and largely dependent on fluctuations in mineral commodity prices and the availability of equity funds on traditional stock exchanges. This cyclicality and related market sentiment affect the number of active exploration companies, particularly junior and middle-sized ones that rely fully on equity funding. As a consequence, the number of active companies will also fluctuate, increasing when the market sentiment is buoyant due to the large number of initial public offers (IPOs) and decreasing when bear markets (that is, prolonged decline in stock prices, which fall by 20 percent or more from recent highs (Chen, 2024) force companies to wind up and promote industry consolidation through mergers and acquisitions (M&A). In the final analysis, like any other business, mineral exploration is justified on the expectation of its returns on average being commensurate to the generally high risk borne. In this respect, a bearish market sentiment also affects the investors’ appetite for risk, with less funding being directed to higher risk-reward greenfield exploration in developing countries and more to the less risky brownfield 172 | MINERAL RESOURCES OF AFRICA projects in established mining jurisdictions, even though the latter is vastly less significant in terms of its contribution to the world mineral endowment and supply. A similar analysis can be carried out at the level of the main individual commodities (for example, gold, copper, uranium, and iron ore) to assess how Africa has performed in terms of discovery rate, size, and cost per unit of contained metal relative to the rest of the world. Given the above and the easier metallurgy and logistics of gold mining, it is no surprise that the bulk of the exploration investment in the continent is directed to this metal. In terms of gold, for instance, the average size of discovery in Africa in recent years was about on a par with that of the rest of the world at 1.62 MOz (Figure 4.7). But the cost per discovery (Figure 4.8) was FIGURE 4.7  Average size of gold discoveries over the last 10 years in the world, in Africa, and in individual African regions. Source: MinEx Consulting. Note: Includes the estimated likely increase in deposit size from additional resource delineation drilling over time. 4. MINERAL POTENTIAL OF AFRICA | 173 FIGURE 4.8  Average cost of gold discoveries over the last 10 years in the world, in Africa, and in individual African regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. just under 33 percent, and the cost per ounce of gold (Figure 4.9) was 35 percent of that of the rest of the world ($32 per ounce versus $92 per ounce). Part of this is associated with discoveries made by the informal sector (that is, prospectors), the cost of which is not captured in the reported exploration data for gold. Leaving these out is estimated to increase the unit discovery costs by approximately 10 percent. The high unit discovery cost for North Africa in Figure 4.9 may simply be an artefact resulting from the limited expenditures and number of discoveries made there. It will be noted that Figure 4.7 also provides an estimate of the final average size of gold discoveries in different regions and in the world, after taking into consideration the likely rate of growth in their resources following better delineation of individual deposits over time. An in-depth analysis of the historical rate of growth in the resources of gold deposits over time is provided in a paper by Guj et al. (2011). 174 | MINERAL RESOURCES OF AFRICA FIGURE 4.9  Average unit cost of gold discoveries (as $ per ounce of Au) over the last 10 years in the world, in Africa, and in individual African regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. In the case of copper, the average size of discovery (Figure 4.10) is heavily weighted by large deposits in Central Africa. Figure  4.10 also provides an estimate of the ultimate, average size of copper discoveries, after allowing for growth following their discovery and attributable to their progressive better delineation over time (Mudd and Jowitt, 2018; Guj and Schodde, 2025). The average cost per discovery at $120 million is very competitive when compared to that for the rest of the world at $345 million (Figure 4.11). This is probably on account of some relatively recent, very large and high-grade discoveries and resource re-assessments, which are also reflected in the comparatively low unit cost per metric ton of copper at US$18 per metric ton (Figure 4.12), just under 20 percent of the cost for the rest of the world at $91 per ton. This, in combination with the frequent presence of cobalt as a byproduct, explains why Africa has traditionally been a coveted target for copper exploration. 4. MINERAL POTENTIAL OF AFRICA | 175 FIGURE 4.10  Average size of copper discoveries over the last 10 years in the world, in Africa, and in individual African regions. Source: MinEx Consulting. Note: Includes the estimated likely increase in deposit size from additional resource delineation drilling over time. 176 | MINERAL RESOURCES OF AFRICA FIGURE 4.11  Average cost of copper discoveries over the last 10 years in the world, in Africa, and in individual African regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. 4. MINERAL POTENTIAL OF AFRICA | 177 FIGURE 4.12  Average unit cost of copper discoveries (as $ per metric ton of Cu) over the last 10 years in the world, in Africa, and in individual African regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. 178 | MINERAL RESOURCES OF AFRICA Up until now, success in iron-ore exploration has centered on West and Central Africa (for example, with the Simandou, Tonkolily, and Mbalam deposits). Over the last decade, this has to some degree shifted to East Africa, with discoveries of large deposits particularly in Sudan. This has lifted the African average size to 89 Mt of contained iron metal, on a par with the average for the rest of the world (Figure 4.13). As for copper, Figure 4.13 also displays how the expected average tonnage of current African iron-ore deposits is likely to virtually double over the long term, following better delineation drilling. Average African deposit growth will be particularly influenced by growth of the average West African deposit that is expected to rise fourfold, from the current 32 Mt of contained iron to 132 Mt. Based on the information currently available, the average cost per discovery in Africa at $55 million is but a small fraction (6.2 percent) of that for the rest of the world (Figure 4.14), probably reflecting the fact that in some countries, the iron-ore industry is at its early stages of exploration, leading to relatively easy discoveries. FIGURE 4.13  Average size of iron-ore discoveries over the last 10 years in the world, in Africa, and in individual African regions. Source: MinEx Consulting. Note: Includes the estimated likely increase in deposit size from additional resource delineation drilling over time. 4. MINERAL POTENTIAL OF AFRICA | 179 FIGURE 4.14  Average cost of iron-ore discoveries over the last 10 years in the world, in Africa, and in individual African regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. As a consequence, the unit cost per metric ton of contained iron metal at a paltry $0.35 per metric ton appears anomalously low against a rest of the world average of $5.68. This significant disparity may relate to differences in the current stage of exploration and resource delineation of various deposits and the level of confidence in their related resource estimates. Irrespective, given the currently very high price for iron ore (at the time of writing the price for standard 62 percent iron fines ore is trading at around $110 per metric ton) and the geopolitics around its supply, it would not be surprising if Africa were to experience an accelerated phase of advanced exploration and development of some of its known deposits. These are just a few examples of the type of analysis designed to highlight the competitive advantage that Africa should enjoy, everything else being equal, in terms of investment attraction for mineral exploration and development of individual commodities. 180 | MINERAL RESOURCES OF AFRICA FIGURE 4.15  Average unit cost of iron-ore discoveries (as $ per metric ton of Fe) over the last 10 years in the world, in Africa, and in individual African regions. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. Geological assessment of African regional mineral prospectivity General considerations This section assesses the history of mineral discovery in the five individual African regions, and highlights the main areas of geological prospectivity for future discoveries. Analysis is based on the qualitative, subjective judgement of a number of geoscientists with a high level of expertise in economic geology and mineral exploration. The main contribution was made by two prominent professors from the Centre for Exploration Targeting of the University of Western Australia, who shared with the authors their deep knowledge of the geology and mineral resources of the African continent. These are Professor Franco Pirajno, who contributed the bulk of the material relating to the East and Southern Africa regions, and Dr. Nicolas Thebaud, who drafted much of the section concerning West Africa. 4. MINERAL POTENTIAL OF AFRICA | 181 It must be noted that this assessment is based primarily on geological considerations and the history of previous mineral discoveries, and disregards any possible infrastructural or geopolitical constrain that may currently hinder mineral exploration. As already discussed in some detail in Chapter 2, different metallogenic epochs and provinces relate to the different fundamental geological components of the African continent. These comprise cratonic nuclei (that is, the Kalahari Craton, the Congo Craton, the West African Craton and the East Saharan Metacraton), shields and orogenic mobile belts, ranging in age from Archaean to Cenozoic. Well- preserved sedimentary basins of various ages ranging from Upper Proterozoic, through Phanerozoic to Recent, generally cover parts of the cratons. Each of these distinct geological assemblages is characterized by specific types of mineral deposits and endowments. As the five African regions are based on the geographical boundaries of their member countries, which are unrelated to geology, the nature and extent of their mineral endowments and prospectivity depends on the geological units that they cover, and may extend to adjoining regions. Figure 4.2 in Section 4.1 displayed the annual exploration expenditures and number of African mineral discoveries over the last 30 years broken up by commodities, while Figure 4.4 provided the distribution of exploration expenditures among the five African regions, and Figure  4.5 the annual number of mineral discoveries in each region over the same period. These figures clearly emphasize that in the decade between 2013 and 2024, the number of mineral discoveries was moderate compared to the previous decade particularly in West Africa. This may indicate incipient exploration maturity, among other things. The Sub-sections that follow will consider in greater detail the exploration, discovery, history, and mineral potential of individual African regions. West Africa1 Geological framework The West Africa Region covers the West African craton, which includes two Precambrian shields— the Leo-Man shield in the south and the Reguibat shield in the north—separated by the overlying Neoproterozoic-Paleozoic sedimentary rocks of the Taoudeni Basin (Figure 4.16). Archean tonalite- trondhjemite-granodiorite and greenstone belts, composed of metasediments and metavolcanic rocks, metamorphosed to the amphibolite to granulite facies (Camil, 1981 and 1984), occupy about a quarter of the area. These ancient gneissic domains underwent significant reworking during the Archean at circa 3500 Ma, 3050–3260 Ma, and 2850–2960 Ma, and subsequently also during the Paleoproterozoic (Rollinson, 2016). Paleoproterozoic terranes of the West African Craton include volcanic and volcano-sedimentary greenstone belts deposited between circa 2250 Ma and 2095 Ma (Grenholm et al., 2019). Granitic plutons intruded into the supracrustal cover between circa 2260 Ma and 2050 Ma (Parra-Avila et  al., 2017). 1 This section has been co-authored with Professor Nicholas Thebaud of the Centre for Exploration Targeting of the University of Western Australia. 182 | MINERAL RESOURCES OF AFRICA FIGURE 4.16  Geological map of West Africa. Source: Modified from the Geological Survey of Canada 1:35 M map of the world (Chorlton, 2007), after Jessell et al., 2010. Notes: AGD: Ahmeyim Great Dyke; ATS: Aousserd-Tichla swarm. Two-letter country codes: BF: Burkina Faso; CI: Côte d’Ivoire; DZ: Algeria; GH: Ghana; GM: The Gambia; GN: Guinea; GW: Guinea Bissau; LR: Liberia; MA: Morocco; ML: Mali; MR: Mauritania; NE: Niger; SL: Sierra Leone; SN: Senegal; and TO: Togo. 4. MINERAL POTENTIAL OF AFRICA | 183 Overall, the geological record points towards two main Paleoproterozoic orogenic cycles. The earlier Eoeburnean cycle culminated in region-wide, contractional deformation and metamorphism between circa 2140 Ma and 2135 Ma. The younger Eburnean cycle, that began with widespread basin formation between circa 2135 Ma and 2105 Ma, continued with contractional deformation, basin inversion, and metamorphism between circa 2105 Ma and 2100 Ma, and culminated with wrench-style deformation between cira 2100 Ma and 2095 Ma (Hein, 2010; Perrouty et al., 2012; Lebrun et al., 2017). The Reguibat Shield and Leo-Man Shield are both affected diachronously by the Neoproterozoic Pan African orogenies between circa 685 and 600 Ma following the Rodinia break-up, with orogenic collapse commencing at circa 614 Ma (Thomas et al., 2002). Pan African orogenies led to the formation of fold and trust belts that surround the sedimentary deposits of the Taoudeni basin. East of the Taoudeni basin, the Dahomeyides belt is distributed along a broad north-northeast–south- southwest zone spreading from Eastern Ghana through to West Nigeria. These Neoproterozoic belts are dominated by clastic metasediments, but basic and ultrabasic and banded iron formation lithologies also occur. Most of the belts are Neoproterozoic in age, deformed and metamorphosed in the Pan African (550 Ma), though trace of the Kibaran event may also be apparent (cira 1100 Ma). Metamorphic grades are in the amphibolite facies throughout most of the region, except near the margin of the craton, where granulite faciès rocks are common in Ghana, Togo, and Benin. There, the boundary with Precambrian basement is associated with a broad suture zone between the West African Craton to the west and the rather poorly defined East Sahara craton to the East. This suture zone is also associated with large syn to late tectonic granitic intrusions emplaced between circa 450 Ma and 650 Ma. West of the West African Craton lies the Neoproterozoic Rokelides in Sierra Leone and Guinea and the Mauritanides in Senegal and Mauritania. Both belts merge into one another and are sitting on the western margin of the Archaean cratonic nucleus, which underwent slight reactivation during the Pan African. In contrast with the northern Mauritanides, where the crystalline basement is directly thrust onto the Neoproterozoic to early Palaeozoic cratonic cover of the West African Craton, the internal zones of the Central Mauritanides comprise a variety of metamorphic terrains in direct contact with the non-metamorphic foreland domain. Mafic/ultramafic rocks regarded as remnants of oceanic lithosphere occur in central and southern Mauritanides and are interpreted to delineate a west dipping suture zone. The Mauritanide can be further traced to the north into the Anti-Atlas and Ougarta fold and thrust belts. The latter prolonged into the Hoggar–Iforas belts that occupy Algeria and Niger to the East. These northern segments mark Hercynian (approximately 300Ma) fold and thrust belts that were reactivated. Sedimentation into the Taoudeni basin and adjacent Volta basin began at about 1000Ma and had ceased by the Carboniferous period. This sedimentary cover forms a thin (approximately 3  km average thickness), mostly undisturbed cover, and spans almost 1500  km in diameter, covering 2,000,000 km2. The Taoudeni basin includes Neoproterozoic glaciogenic deposits that are overlaid by cap carbonate formations that are sub continuous over the central and southeastern part of the basin. The glaciogenic deposit is dated at approximately 635 Ma and testifies to the Marinoan glaciation, one of the two major worldwide glaciations interpreted to result in the low latitude location of West Africa during the break-up of the Rodinia Supercontinent. Following the deposition of the 184 | MINERAL RESOURCES OF AFRICA Taoudeni basin, the West African craton remained fairly unperturbed, but for the emplacement of several generations of mafic dykes. From the Palaeozoic to the Jurassic, a number of intrusions were emplaced in the craton including: i) Permo-Triassic dolerites in southern Mali, Liberia, Guinea, Sierra Leone, and Senegal; ii) Magmatic ring complexes dominated by granitic rocks in the Air (Lower Palaeozoic), Zinder (Upper Palaeozoic), Jos Plateau (Triassic to Jurassic), and Cameroon (Tertiary); iii) a Permian carbonatite complex in North East Mali and along the eastern margin of the West African Craton; and iv) Cretaceous to Cenozoic kimberlites throughout the craton and, essentially anorogenic alkaline intrusions and volcanic activity confined to areas of the craton affected by the Pan African tectono-thermal event. Exploration number and cost of discoveries and related metal content Over the period 1960–2023, there were a total of 351 exploration discoveries in the West Africa region. These included 10 Tier 1, 31 Tier 2, 103 Tier 3, and 206 Tier 4 and undifferentiated deposits. Details of exploration expenditures and the number of discoveries over the last 30  years are provided in Figure 4.17, which emphasizes the significant exploration successes achieved in the West Africa region between 2005 and 2014. Discoveries were primarily for gold, but also included mineral sands, iron ore, base metals, and uranium. Due to the lag between the peak exploration investment of 2012 and the likely realization of related discoveries, the graph in Figure 4.17 also includes a significant number of expected but unreported discoveries. The geographical location and relative value of the 351 historical discoveries are displayed in Figure 4.18 where the diameter of the circles denotes the tier classification of deposits decreasing FIGURE 4.17  Exploration expenditures and number of mineral discoveries in the West Africa region over the last 30 years, broken up by commodity. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. 4. MINERAL POTENTIAL OF AFRICA | 185 FIGURE 4.18  Geographical location and relative value of all West Africa’s mineral discoveries of various commodity groups made between 1960 and 2024. from the more valuable Tier 1 deposits down to the Tier 4 and unclassified ones. As for previous endowment maps, deposits are color coded into the seven main commodity groups as listed in the map legend. In terms of exploration efficiency, the reader is referred to the discussion at the end of Section 4.1 and in particular Figure 4.6 that clearly indicates that in the last 10 years, West Africa with an average cost per discovery of $108 million, is below the African average of $154 million, and less than a quarter of that of the rest of the world at $219 million. Table 4.4 provides a comparison among the West Africa regional countries and with Africa and the world at large in terms of the average metal content per square kilometer for seven major mineral commodities. Metallogeny Gold Most of the Archaean greenstone belts in the Leo-Man and Reguibat shield are either under cover or received little attention over the past decades, making them a fairly untested part of the craton in terms of their gold exploration prospectivity. The discovery and development of the giant Tasiast deposit in the Reguibat shield, dated indirectly at approximately 2839 Ma, indicates that Archean parts of the West African craton must now be considered as prospective for economically significant gold ores (Goldfarb et al., 2017). 186 | MINERAL RESOURCES OF AFRICA TABLE 4.4  Total contained metal per square kilometer for the major mineral commodities in the West Africa region. Land Area Total Contained Metal per km2 km2 oz Au t Cu t Ni t Zn 1 Pb kg U3O8 Ct Dia t Coal t Fe WORLD 135,000,000 103 33.3 3.4 16.8 121.6 nd 6,631 2,510 WORLD excl. Africa 104,790,000 97 39.4 4.0 20.6 128.2 nd 7,348 2,776 TOTAL AFRICA 30,214,416 124 12.3 1.5 3.6 98.9 nd 4,143 1,590 Africa as % of World 22% - - - - - - - - West Africa 6,059,346 110 0.4 1.0 0.2 135 nd 280 3,549 Benin 114,305 2.8 - - - - - - 2,016 Burkina Faso 273,602 371 4.3 0.9 4.6 - - - - Cabo Verde 4,033 - - - - - - - - Côte d’Ivoire 318,003 196 1.0 13.1 - - - - 1,934 Gambia 10,000 - - - - - - - - Ghana 227,533 1,149 - - - - - - - Guinea 245,717 220 - 5.8 - 36 - - 18,440 Guinea-Bissau 28,120 - - - - - - - - Liberia 96,320 83 - - - - - - 56,703 Mali 1,220,190 104 0.0 - 11 - - 103 Mauritania 1,025,520 16 0.8 0.0 - 50 - - 3,635 Niger 1,266,700 5 - - - 588 - - 65 Nigeria 910,768 1.8 - - - - - 1,863 1,006 Senegal 192,530 119 - - - - - 1,161 Sierra Leone 71,620 56 - - - - - - 70,955 Togo 54,385 - - 1.3 - - - - - Today’s gold production from West African Paleoproterozoic sequences is comparable with that from other important gold producing regions such as Western Australia, Canada, Russia, and South Africa. Ghana remains the most productive region, but Mali, Burkina Faso, and to a lesser extent Côte d’Ivoire and Guinea are also becoming significant producers (Goldfarb et al., 2017) (Figure 4.19). It remains to be seen to what degree this is the result of differences in their original mineral endowments as opposed to differences in the degree of exploration undertaken to date in different countries. However, the authors would be inclined to believe that the latter is probably the case, and that the West African craton still remains prospective for gold mineralization in both classic Paleoproterozoic settings, still hosting significant potential in Guinea and Côte d’Ivoire and in the poorly explored parts of the Archean Craton in Liberia and Sierra Leone. Historically, West Africa has been known for two styles of gold mineralization: i) the classic “Birimian- style” sedimentary rock- and shear-hosted orogenic deposits, typified by Obuasi; and ii) the metamorphosed conglomerate-hosted deposits of the Tarkwa district, commonly interpreted 4. MINERAL POTENTIAL OF AFRICA | 187 FIGURE 4.19  Paleoproterozoic gold deposits of West Africa. Source: After Thébaud et al., 2020. 188 | MINERAL RESOURCES OF AFRICA as paleoplacers (Junner, 1932). However, recent research pointed towards a more complex picture capturing a greater diversity of gold deposits. The first peak of gold mineralization, accounting for 50–70 percent of the craton’s endowment, was deposited during the Eburnean inversion and metamorphism of major intra-orogenic sedimentary basins deposited between circa 2110 Ma and 2095 Ma. Gold within these deposits typically occurs free in quartz veins (Obuasi), or is hosted by pyrite and arsenopyrite as well as in paleo-placer deposits. The second peak of gold mineralization, accounting for 20–40 percent of the craton’s endowment, occurred between circa 2090 Ma and 2060 Ma, after docking of the Paleoproterozoic and Archean domains, and the onset of high-potassium magmatism across parts of the West African Craton at circa 2095 Ma. Deposits formed during this period have a wider variety of styles and geological settings. Deposits in the Loulo and Sadiola districts of Mali and Senegal, associated with extensive albite, tourmaline, and/or carbonate alteration in hydrothermal breccias, display a variety of metal assemblages reflecting their development in the aureoles of high-K granitoid batholiths. The remaining 10 percent of the gold endowment of the SWAC is distributed among rare Eoeburnean orogenic deposits formed before circa 2140 Ma (Figure 4.20). The Neoproterozoic Pan African belts of West Africa have long been known for their gold prospectivity: artisanal mining has taken place here for centuries on both shallow primary and secondary alluvial deposits (Adjo et al., 2018). Despite such prolonged artisanal mining activities, the region has attracted relatively little modern exploration, probably because initial exploration failed to detect the presence of Tier 1, near-surface gold resources, which are usually discovered early in the exploration history of a terrane because of their comparatively large and detectable footprints. It is possible that the time has come to look “deeper”, particularly in light of the known gold occurrences in Benin and FIGURE 4.20  Approximate gold endowment per deposit style for Paleoproterozoic gold deposits. Source: After Thébaud et al., 2020. 4. MINERAL POTENTIAL OF AFRICA | 189 Togo traditionally exhibiting economic to high grade mineralization (up to 300 g/t -), but overall restricted tonnages. Copper, zinc, and lead Base metal mineralization in the West African craton is essentially related to early magmatic activity associated with the Paleoproterozoic tectono-thermal evolution. Volcanic hosted massive sulfide (VHMS) Pb-Zn mineralization is associated with a series of mafic tholeiitic tuffaceous rocks that have suffered both deformation, and the impact of large intrusions at the base of the Birimian stratigraphy. The main and only currently mined deposit of this type is the Perkoa mine in Burkina Faso, originally based on estimated ore reserves of 5.7 Mt with 18.2 percent Zn, 10 percent BaSO4, and 26 ppm Ag (Swartz and Melcher, 2003). The complex nature of such deposits makes it difficult to explore for, although the exceptional grades make this type of mineralization a potentially very rewarding endeavor. Late Proterozoic as porphyries intruding the supracrustal cover over the Eoeburnean tectono- thermal episode (circa 2200–2140 Ma) host copper mineralization which has undergone significant post emplacement structural modification, to the point that several ore deposits exhibit a two-stage mineralization history. As an example, the porphyry-hosted Cu mineralization in the Gaoua district of Burkina Faso formed coevally with the emplacement of the diorite and andesite host rocks at 2165 ± 24 Ma (Le Mignot et al., 2017a), and was overprinted by orogenic gold mineralization that formed during Eburnean deformation after circa 2120 Ma (Le Mignot et al., 2017b). These copper-Au porphyry systems remain uncommon in Paleoproterozoic terrains, with terrains exposed not likely to have survived the craton exhumation and associated erosion profile. Nickel Nickel mineralization has been described in both Paleoproterozoic and Pan African terrains. In Burkina Faso, Guinea and Côte d’Ivoire, nickel sulfide–PGE mineralization is closely related to the late Eburnean magmatic resurgence (circa 2095 Ma) and more particularly to its mafic plutonism and magmatism around the paleo margins of ancient Archean crustal blocks. This style of mineralization is well exemplified at the Samapleu Ni-Cu-PGE deposit which is associated with mafic and ultramafic intrusions at approximately 2080 Ma into the Archean basement of the Leo-Man craton in West Côte d’Ivoire (Gouedj et  al., 2014). In the Pan African of Togo and East Ghana, Ni and Cr occurrences related to mafic and ultramafic lithologies remanent of an intra-oceanic arc that was exhumedduring the Dahomeyides orogeny have been detected during survey campaigns conducted in late 1900s to early 2000s. In both these geological environments, past exploration has been intermittent and not exhaustive, and they may deserve renewed and more focused attention. Iron oxide copper and gold (IOCG) IOCG-style mineralization is present in Mauritania, as exemplified by the circa 2492 Ma (Meyer et al., 2006) Guelb Moghrein deposit (Kolb and Petrov, 2015). Although mined since the Neolithic, the area east of Guelb Moghrein is still host to several smaller IOCG prospects, highlighting the prospectivity of this poorly explored district. Recent research has highlighted that Pan African belts—such as that of the Anti-Atlas region—may be more prospective for IOCG than previously envisaged (Baidada et al., 2018). Similarly, other regions associated with anarogenic alkaline ring complexes throughout the West African Craton region, could be host to other IOCG because of their setting, but also to porphyry and skarn deposits buried underneath the large areas covered by Cenozoic sediments. 190 | MINERAL RESOURCES OF AFRICA Tin and rare metals The Nigerian anorogenic magmatic ring complexes are well known for their tin mineralization, associated with granitic stocks which also feed alluvial deposits. The same granitic stokes have been described as carrying good amounts of pyrochlore and columbite, making these attractive targets for transition and rare metals exploration (Kinnaird et al. 2016). Iron ore Significant iron-ore deposits and occurrences are found across the whole West African Craton in the Paleoproterozoic, the Pan-African Dahomeyan, and the Rokelide belt, and on the margins of the Taoudeni and Volta basins. Deposit styles include: i) Archean BIFs; ii) Proterozoic magmatic related iron ore; and iii) Phanerozoic supergene deposits. High grade hematite–magnetite ores in BIF are mined in Guinea, Mauritania, Côte d’Ivoire, and Liberia. The world class Simandou deposit in Guinea exhibits average Fe2O3 grades of 30–40 percent. Magmatic related iron-ore deposits (skarn-hosted iron-ore deposits) are also described in the Birimian record in the Falémé volcanic belt of the Kedougou Kinieba Inlier (Markwitz et al., 2016). Other intrusion related iron-ore deposits are found in the Oursi region of northeast Burkina Faso, where Fe–V–Ti-bearing veins intersect Paleoproterozoic mafic and ultramafic intrusions (Neybergh et al., 1980). Supergene iron-ore deposits may be found in oolitic and pisolitic ironstones of the Cretaceous Bida basin in Nigeria. Although associated with grades ranging from 30 to 60 percent Fe, the large amount of impurity (phosphate and sulfur) makes it a rather unattractive resource. While residual exploration potential for iron ore without doubt exists in the region, it is questionable whether further exploration may be justifiable, considering the presence of such large and high quality but as yet undeveloped resources in the region. Mineral sands It is anomalous that in spite of the occurrence of the important and extensive rutile deposits of Sierra Leone, no other significant mineral sands deposits associated with ancient or modern marine terraces has been located to date along the extensive coastline of this region. More active exploration for this type of deposits may be justifiable in the future. Uranium Uranium mineralization has been a key export for Niger since the early 1970s. The main deposit is the Arlit deposit, situated 200km north-northwest of the city of Agades. Mineralization traditionally occurs in Carboniferous fluviatile sedimentary deposits through secondary remobilization of uranium-rich, oxidized, hydrothermal solutions circulating through porous and permeable sandstone units. The primary source of uranium is believed to be related to anorogenic, post-Pan African granitic complexes intruding the Precambrian basement of the Air massif from the Ordovician to the Devonian. At Arlit, mineralization consists of uranium oxides grading 0.25 percent of U3O8. Vigorous uranium exploration took place mainly in the 1970s and waned with the fall in uranium prices; however, renewed interest has been fueled by progressive systematic coverage of vast tracts of African territory by aero radiometric surveys, which highlighted the presence of numerous uranium anomalies, many of which have not yet been fully investigated. Asides from the many sediment-hosted prospects in Niger and some of the adjoining countries (for example Chad and Mali), including some in post-Carboniferous sediments, uranium occurrences in 4. MINERAL POTENTIAL OF AFRICA | 191 metamorphic terranes in Guinea and Mauritania and associated with granitic intrusions along the Mali-Senegal border probably deserve further attention. The general potential for surficial calcrete- hosted types of uranium deposits throughout the region should also be investigated. Diamonds Diamond-bearing kimberlite dykes and pipes occur in Guinea, Côte d’Ivoire, Liberia, and Sierra Leone, and appear to have been emplaced principally during the Gondwana break up from the Jurassic to the Cretaceous (Chirico et al., 2014). In addition, some studies also point out a possible occurrence of kimberlitic intrusions of Paleoproterozoic age (Hastings, 1982). Detrital diamond deposits occur as paleoplacers, or recent placers developed by remobilization of paleoplacers. In the Birimian, diamonds are found in Cenozoic fluviatile deposits (Dampare et al., 2008). The general geological circumstances are not dissimilar from those prevailing in the highly prospective diamond fields of Angola. It is fair to say that for a variety of reasons, local diamond exploration has not been nearly as active in West Africa, and this significant potential remains untested. North Africa Geological Framework The metallogeny of the North Africa Region is exhaustively described by Bouabdellah and Slack (2016), and Figure 4.21 and much of what follows is based on this work. The analysis also draws on the USGS (2009) open file report 1294-E on the “Geology and Nonfuel Mineral Deposits of Africa and the Middle East” (Taylor et al., 2009) and the extremely informative compilation by Frost-Killian et al. (2016). This region covers the north-eastern parts of the West African Craton (marked as [1] in Figure 4.16), including Archaean and Proterozoic sequences (exhaustively discussed in the previous section) of the Trans- Saharan Belt (Tuareg Shield) ([2] in Figure 4.21), the northernmost parts of the East Saharan Metacraton ([3] in Figure 4.21), the northern part of the Nubian Shield ([4] in Figure 4.21), the Anti- Atlas ([5] in Figure 4.21) and the Jebel Uweinat Proterozoic crust, at the Egyptian-Libyan-Sudanese border, overprinted by the PanAfrican event and the Alpine Atlas orogen. In addition, large Palaeozoic to Cenozoic sedimentary basins, hosting important oil and gas fields and uranium mineralization, were deposited unconformably over the Pan-African and older basement. The bedrock of large areas stretching from Morocco in the west to Egypt to the east has also been concealed under the sands of the Saharan desert, hindering conventional prospecting. The limited extent of modern below cover exploration to date probably explains why some of the region appears to be comparatively devoid of mineral deposits. Exploration number and cost of discoveries and related metal content Over the period 1960–2023 there were a total of 48 exploration discoveries in the North Africa region. These included 2 Tier 2, 8 Tier 3 and 38 Tier 4 and undifferentiated deposits, but no Tier 1 deposits. Details of exploration expenditures and number of discoveries over the last 30 years are provided in Figure 4.22. The figure shows very modest levels of annual exploration expenditures and a resultant lackluster history of discovery, including the lack of significant exploration successes in the North Africa region since 2013. The most successful year was 2008 with one gold, one base metal, and one uranium discovery. 192 | MINERAL RESOURCES OF AFRICA FIGURE 4.21  Metallogenic map of northern Africa showing the relationship between mineral deposits and the main geological framework components of the region. Source: Bouabdellah and Slack, 2016. The geographical location and relative value of the 48 historical discoveries are displayed in Figure 4.23, where the diameter of the circles denotes the tier classification of deposits, decreasing from the more valuable Tier 1 deposits down to the Tier 4 and unclassified ones. As for previous endowment maps, deposits are color coded into the seven main commodity groups as listed in the map legend. In terms of exploration efficiency, as discussed at the end of Section 4.1 and displayed in Figure 4.6, in the last 10 years the average cost per discovery in North Africa has been $339 million. This is well above the African average of $154 million and that of the rest of the world at $219 million. It must be noted, however, that the very high average cost of discovery may be a statistical aberration due to the low number and timing of the discoveries relative to the 10-year interval. Given the relatively small average size and value of discoveries, North Africa has in recent time not been very competitive in attracting FDI to its mineral exploration and development industry. 4. MINERAL POTENTIAL OF AFRICA | 193 FIGURE 4.22  Exploration expenditures and number of mineral discoveries in the North Africa region over the last 30 years, broken up by commodity. Source: Exploration expenditure data retrieved from S&P Global Market Intelligence and MinEx Consulting’s estimates. FIGURE 4.23  Geographical location and relative value of all North Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 194 | MINERAL RESOURCES OF AFRICA Table 4.5 provides a comparison among the North Africa regional countries and with Africa and the rest of the world in terms of the average metal content per square kilometer for seven major mineral commodities. Metallogeny The northeastern extension of the West African craton may offer exploration potential for undiscovered iron-ore deposits similar to those occurring in Mauritania to the southeast, as well as for orogenic gold. The northeastern margin of the craton may also be a legitimate target for reconnaissance exploration for diamondiferous kimberlites, even though, to the best knowledge of the authors, no occurrences have been reported to date. This may be attributable to the inadequacy of previous exploration efforts rather than inherent lack of potential. It is also possible that there are orogenic gold deposits similar to the Amasmessa mine in the Trans- Saharan Belt (Tuareg Shield) in the southernmost part of Algeria (now in care and maintenance), but this potential has not been adequately assessed. Significant potential also exists in this area for orthomagmatic chromium-nickel-PGE, volcanic-hosted massive sulfides, and granite-hosted rare metals. Many deposits and occurrences of these metals have been recorded in the area, but are currently not economically viable. By comparison, the geologically similar East Saharan Metacraton appears to be relatively devoid of mineralization. A systematic review should be undertaken to assess whether this is the result of inherently poor mineral fertility or just inadequate past exploration coverage because of its remoteness and prevailing political circumstances. Irrespective, there is definite but poorly investigated mineral potential for uranium mineralization in younger geological formations to the south at the border of Libya with the highly mineralized Niger and Chad. To the north, the Anti-Atlas and Atlas regions host the world class (Imiter) epithermal silver deposit, and orogenic gold deposits. In spite of its long history of local mining, it is felt that the region may still host TABLE 4.5  Total contained metal per square kilometer for the major mineral commodities in the North Africa region. Land Area km2 Total Contained Metal per km2 oz Au t Cu t Ni t Zn 1 Pb kg U3O8 Ct Dia t Coal t Fe WORLD 135,000,000 103 33.3 3.4 16.8 121.6 nd 6,631 2,510 WORLD excl. Africa 104,790,000 97 39.4 4.0 20.6 128.2 nd 7,348 2,776 TOTAL AFRICA 30,214,416 124 12.3 1.5 3.6 98.9 nd 4,143 1,590 Africa as % of World 22% - - - - - - - - North Africa 6,004,391 4 0.5 0.0 3.3 7.4 nd 14 421 Algeria 2,381,741 2 0.0 - 3.6 16.6 - - 630 Egypt 995,450 20 0.0 - 0.0 - - 20 458 Libya 1,759,540 - - - - - - - 234 Morocco 712,300 4 3.9 0.1 14.7 7.0 - 89 183 Tunisia 55,360 - - - 6.4 - - - 204 4. MINERAL POTENTIAL OF AFRICA | 195 some potential for this type of deposits given their structural complexity and high aspect ratios, as well as for primary hydrothermal cobalt deposits. Although a number of orthomagmatic chromium-nickel- PGE occurrences have been located in the area, to date none has proven economically exploitable, but it is doubtful that their economic potential has as yet been fully investigated. The world-class sedimentary phosphorites deposits within Mesozoic to Cenozoic platformal basins extending from Morocco to Egypt have probably been adequately explored, at least in terms of giant and major deposits to the west. But significant potential is still likely to exist for the discovery of Mississippi Valley type lead-zinc within these sedimentary sequences, of which many occurrences have already been located and mined. There is also potential for sedimentary and karst manganese deposits similar to the world class Imini deposit in southern Morocco. To the east, in the northern part of the Nubian Shield, it is highly likely that the recent successful history of discovery of orogenic gold deposits will continue, as is the case in the adjacent East Africa Region to the south. There is also no reason why volcanogenic massive sulfide copper-gold and lead- zinc-silver deposits, similar to Biscia in Eritrea, should not be discovered in Egypt. There are many occurrences of BIF occurring in this part of the region, but it seems unlikely that these will prove to be of a size and quality to make them commercially competitive in the related export markets. Growing demand for a range of relatively rare metals for use in technology is likely to focus future exploration on the essentially untapped regional potential for rare-metal granites and related pegmatites. Asides from the potential of the Trans-Saharan Shied already mentioned, some of the pegmatites in the eastern part of the region in Egypt have already been proven to contain tin, tungsten, niobium, rare earths, columbium, and tantalum and may attract renewed exploration attention on account of their lithium potential. Several occurrences of potash in playa lakes containing carnallite, halite, and sylvite are found in a thousand-kilometer-long belt from Morocco to Libya, mostly related to half-grabens formed during the break-up of Pangea. While giant mineral sands deposits occur in the rest of Africa (for example, Corridor Sand in Mozambique, Richards Bay in South Africa, and Sierra Rutile in Sierra Leone), no significant deposit of this type has been located to date in the region. Finally, the petroleum industry, by far the leading resource sector in the region, has generated extensive geological and stratigraphic knowledge about the sedimentary sequences within which the oil fields occur, often in anticlines or domes in Lower Jurassic evaporitic sequences. There may be an opportunity to carefully analyze these data with a view to establishing the possibility of sediment- hosted mineral deposits occurring in these basins. As shown in Table 4.2, aside from leading the world in terms of reserves and production of phosphate rock, the region appears to lag behind the rest of the world and Africa in terms of contained metal per square kilometer. However, this may not entirely be due to lower-than-average mineral prospectivity. Rather, it can be largely attributed to the inhospitable terrain, lack of access and transport infrastructure and, more recently, to geopolitical considerations, particularly in the remote southern part of the region. 196 | MINERAL RESOURCES OF AFRICA East Africa Geological Framework The East Africa Region comprises the Nubian Shield, the central and northern parts of the East African Rift System, and the island of Madagascar. The Nubian (-Arabian) Shield consists of a large tectonic collage of intra-oceanic island arcs, microcontinental fragments, and volcano-sedimentary basins, making it one of the largest juvenile Neoproterozoic crusts. Exploration number and cost of discoveries and related metal content Over the period 1960–2023, there were a total of 176 exploration discoveries in the East Africa region. These included 2 Tier 1, 11 Tier 2, 50 Tier 3 and 113 Tier 4 and undifferentiated deposits. Details of exploration expenditures and number of discoveries over the last 30 years are provided in Figure 4.24. This shows the significant level and variety of exploration discoveries, particularly for gold, base metals and potash. The number of discoveries increased between 2008 and 2015, despite the relatively modest levels of annual exploration expenditures. The geographical location and relative value of the 176 historical discoveries are displayed in Figure 4.25, where the diameter of the circles denotes the tier classification of deposits decreasing from the more valuable Tier 1 deposits down to the Tier 4 and unclassified ones. As for previous endowment maps, deposits are color coded into the seven main commodity groups as listed in the map legend. In terms of exploration efficiency, as discussed at the end of Section 4.1 and displayed in Figure 4.6, in the last 10 years the average cost per discovery in East Africa has been $55 million. This is just under a third of the African average of $154 million and just over a quarter of the average cost per FIGURE 4.24  Exploration expenditures and number of mineral discoveries in the East Africa region over the last 30 years, broken up by commodity. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. 4. MINERAL POTENTIAL OF AFRICA | 197 FIGURE 4.25  Geographical location and relative value of all East Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 198 | MINERAL RESOURCES OF AFRICA discovery in the rest of the world ($219 million), placing East Africa as the clear leader in the continent. Its performance in terms of gold, uranium, mineral sands, and to some degree base metal discoveries has also been very good. However, the regional low cost of discovery is not always supported by high values of discoveries and is to some degree influenced by the very large size, but relatively low grade of the iron-ore deposits discovered primarily in Sudan and Madagascar. Table 4.6 provides a comparison among the East Africa regional countries and with Africa and the world at large in terms of the average metal content per square kilometer for seven major mineral commodities. Metallogeny Gold Around the southern and eastern side of Lake Victoria are numerous and in some cases important orogenic mesothermal gold deposits. These are hosted in greenstone belts of Archaean age, and are not dissimilar from those of the Western Australian Goldfields. Production in this mining district— often referred to as the “Lake Victoria Goldfields”—started in 1914 and actively continues to date. The TABLE 4.6  Total contained metal per square kilometer for the major mineral commodities in the East Africa region. Land Area km2 Contained Metal per km2 oz Au t Cu t Ni t Zn 1 Pb kg U3O8 Ct Dia t Coal t Fe WORLD 135,000,000 103 33.0 3.4 16.8 121.6 - 6,631 2,510 WORLD excl. Africa 104,790,000 97 39.0 4.0 20.6 128.2 - 7,348 2,776 TOTAL AFRICA 30,214,416 124 12.3 1.5 3.6 98.9 - 4,143 1,590 Africa as % of World 22% - - - - - - - - East Africa 6,519,925 26 1.0 1.1 0.9 18.8 - 450 1,377 Comoros 1,862 - - - - - - - - Djibouti 23,180 - - - - - - - - Eritrea 101,000 62 22.0 - 52.1 - - - - Ethiopia 1,000,000 22 0.1 0.1 0.1 - - 60 - Kenya 569,140 13 0.1 - 0.1 - - - - Madagascar 581,540 2.7 - 4.9 - 20.3 - 1,961 355 Mauritius 2,030 - - - - - - - - Rwanda 24,668 36 - - - - - - - Seychelles 455 - - - - - - - - Somalia 627,337 - - - - 34.8 - - 293 South Sudan 644,329 1.3 0.6 - - 1.6 - - - Sudan 1,861,484 25 1.3 - 0.1 - - - 4,377 Tanzania 885,800 94 0.9 4.4 - 93.0 - 1,955 441 Uganda 197,100 5 2.2 0.2 - 26.9 - - 234 4. MINERAL POTENTIAL OF AFRICA | 199 area has received significant exploration attention in the last 20–30 years. While some deposits are probably still to be discovered, overall the area may be considered rather mature. By contrast, the Neoproterozoic Nubian Shield hosts several important orogenic gold deposits and is still relatively under-explored. Base metals The Nubian shield hosts VHMS occurrences, as well as porphyry copper mineral systems. Important economic base metal deposits have already been discovered and developed in this shield both in Eritrea and across the Red Sea in Saudi Arabia. In light of this, this terrane—particularly in Ethiopia where mineral production has been minor in spite of many mineral occurrences—must be considered as still offering significant exploration potential. Recent Re-Os age data indicate that the timing for porphyry copper mineralization is related to the early opening of the Mozambique Ocean, after the break-up of the Rodinian supercontinent. Nickel The East African Nickel Belt (EANB), extending along the northwest margin of the Tanzanian craton near Lake Victoria, is characterized by numerous nickel sulfide deposits hosted in the conduits (chonoliths and sills) of medium to large layered mafic-ultramafic rocks intruded during a single magmatic event associated to the Mesoproterozoic Kibaran (1350 to 1400 Ma) tectono- thermal episode. Significant laterite deposits also developed over exposed dunites and peridotites, generally occurring at the base of the largest layered intrusions. Currently sub-economic, but poorly explored, nickel sulfides mineralization occurs in most of the numerous mafic-ultramafic intrusions in the EANB. As a consequence, its exploration potential is considered high. Based on minor occurrences in Ethiopia and in Saudi Arabia, assessing the exploration potential of the Nubian shield for Ni-Cu-PGE mineralization associated with ultramafic intrusions and in ophiolitic environments would also be justified. Potash Significant volcanism associated with the Afar Triangle in the northern part of the East African Rift System may have contributed to the formation of substantial potash deposits in evaporitic environments, particularly in the Danakil Depression of Ethiopia and Eritrea. Although two world class potash deposits have been delineated and are currently being developed in these areas, residual potential probably exists for further discoveries. On balance, the areas close to the East African Rift System appear by comparison to the rest of Africa to be almost devoid of mineral occurrences. However in terms of mineral systems, apart from the areas around Lake Victoria, the East Africa Region is geologically poorly known and relatively under-explored. Consequently, the region may represent quite an attractive target for future mineral exploration for a variety of mineral deposits, such as orogenic gold, VHMS base metals, and porphyry- type deposits and Ni-Cu-PGE deposits associated to ultramafic intrusions. In addition, as discussed in more detail in the context of the Central Africa region, the East African Rift System remains a potential “ore making factory” that should be explored for hot-spring related epithermal systems, potash and borates, among other things. By contrast, the Archaean Lake Victoria Goldfields and the Antogillian cratonic terranes (which dominate the eastern side of Madagascar) are rich in minerals, hosting important nickel-cobalt laterite 200 | MINERAL RESOURCES OF AFRICA deposits, bauxites, heavy mineral sands deposits of ilmenite and monazite, as well as deposits of gemstones such as sapphire, ruby and emerald. These deposits may prove to be more mature than the rest of the region. Central Africa Geological framework The Central Africa Region is located between the West and East Africa Regions. It occupies part of the East Saharan Metacraton, the northern and central parts of the Congo Craton, as well as the southern sections of the Cenozoic East African Rift System. The Tanzanian cratonic block is part of the Kalahari Craton. (Figure 3.1). Exploration number and cost of discoveries and related metal content Over the period 1960–2023, there were a total of 117 exploration discoveries in the Central Africa region. These included 6 Tier 1, 14 Tier 2, 39 Tier 3, and 58 Tier 4 and undifferentiated deposits. Details of exploration expenditures and number of discoveries over the last 30 years are provided in Figure 4.26, which emphasizes very significant increases in annual exploration expenditures between 2003 and 2012 and resultant important exploration successes in base metals, iron ore and gold, as well as in some battery metals, notably lithium. The geographical location and relative value of the 117 historical discoveries are displayed in Figure 4.27, where the diameter of the circles denotes the tier classification of deposits decreasing from the more valuable Tier 1 deposits down to the Tier 4 and unclassified ones. As for previous endowment maps, deposits are color coded into the seven main commodity groups as listed in the map legend. FIGURE 4.26  Exploration expenditures and number of mineral discoveries in the Central Africa region over the last 30 years, broken up by commodity. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. 4. MINERAL POTENTIAL OF AFRICA | 201 FIGURE 4.27  Geographical location and relative value of all Central Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 202 | MINERAL RESOURCES OF AFRICA In terms of exploration efficiency, as discussed at the end of Section 4.1 and displayed in Figure 4.6, in the last 10 years the average cost per discovery in Central Africa has been $145 million. This is is in line with the average for the continent at $156 million, giving the erroneous impression that the fertility of this region is also average for the continent. In reality, this cost of discovery is for the most part paired with individual discoveries that are generally very large and/or high-grade. In the case of copper, for instance, the average size of discovery is 6.78 Mt of copper metal, compared to an African average of 3.83 Mt and of the rest of the world at 2.23 Mt (Figure 4.7). As a result, the unit cost of copper discovery on a dollar per metric ton of copper metal in the Central Africa region is $20 per ton, well below the African and rest of the world averages of $91 per ton and $75 per ton respectively (Figure 4.9). The picture is made even more attractive by the fact that many copper deposits in the region are associated with appreciable quantities of highly priced cobalt as a byproduct or even coproduct. The Central Africa region’s performance in terms of gold, uranium, and iron ore has also been very good, which reinforces this region’s status as a very desirable exploration destination from the geological potential point of view. Table 4.7 provides a comparison among the Central Africa regional countries and with Africa and the world at large in terms of the average metal content per square kilometer for seven major mineral commodities. Metallogeny Base metals Of particular importance in this region are the world-famous, sediment-hosted, stratiform copper- cobalt deposits of the Congo Copperbelt, which make this region the dominant source of cobalt in TABLE 4.7  Total contained metal per square kilometer for the major mineral commodities in the Central Africa region. Land Area km2 Contained Metal per km2 oz Au t Cu t Ni t Zn 1 Pb kg U3O8 Ct Dia t Coal t Fe WORLD 135,000,000 103 33.3 3.4 16.8 121.6 nd 6,631 2,510 WORLD excl. Africa 104,790,000 97 39.4 4.0 20.6 128.2 nd 7,348 2,776 TOTAL AFRICA 30,214,416 124 12.3 1.5 3.6 98.9 nd 4,143 1,590 Africa as % of World 22% - - - - - - - - Central Africa 5,721,140 18 29.2 1.0 2.4 29.4 nd - 1,530 Burundi 25,680 18 12.2 157.2 - - - - - Cameroon 472,710 4.1 - 4.2 - 27.8 - - 6,363 Central African Republic 622,984 7 - - - 68.1 - - 359 Chad 1,259,200 1.5 - - - - - - - Congo 341,500 - 0.8 - 6.6 - - - 12,292 Congo, Dep. Rep. 2,267,048 40 73.5 - 5.0 18.2 - - 113 Equatorial Guinea 28,051 - - - - - - - - Gabon 257,667 9 - - - 277.7 - - 4,155 São Tomé and Príncipe 446,300 - - - - - - - - 4. MINERAL POTENTIAL OF AFRICA | 203 the world. Although the Copperbelt has hosted a large number of mining operations for over 100 years and should by any measure be considered as mature, significant discoveries continue to be made, such asthe giant Kamoa-Kakula copper-cobalt deposit. Gold and diamonds Bordering the largely unexplored Congo Craton are numerous and in some cases important alluvial gold and diamonds deposits, many of which are exploited by artisanal miners. Most have not yet been traced back to their hard rock sources, making orogenic gold deposits and diamantiferous kimberlites legitimate targets for future exploration. Iron-ore and nickel laterites The region has numerous giant, but as yet undeveloped, iron-ore and nickel-cobalt laterite deposits at various stages of exploration to feasibility. Without doubt these will attract further research and develop into very significant future mines. Phosphate rock The younger Congo Basin has also immense potential to become a leading producer of phosphate rock and particularly of high-grade potash. If fully explored and delineated, these could amount to a resource of 30 to 100 Bt of carnallite grading over 18 percent KCl to a depth of 1000 meters (Pedley et al. 2016, cited in Frost-Killian et al. 2016). Alkali complex related Cu-Ni-PGE, REE, phosphate, and uranium Aside from possible diamantiferous kimberlites, the alkaline complexes along the NE-trending 60–30 Ma Cameroon line are also relatively unexplored and represent good targets for quite a diverse range of minerals including rare earths, phosphate, uranium, and nickel-copper-PGE. Hot-spring related sulfides Further to the east along the margin of the Tanzanian cratonic block, the region covers sections of the western branch of the East African Rift System which Pirajno (2020) considers to represent a prime target for buried hot-spring-related sulfide deposits (Figure 4.28). Although this type of deposit has not been discovered in this region to date, Pirajno (2020) contends that the present day hydrothermal circulation and high heat flow through thick sedimentary piles—rich in organic material and largely anoxic—in the northern part of Lake Tanganyika represent a feasible mineral system model. Hot fluids circulating through the sediments and along the walls of rifts mobilize metals and discharge at the surface as hot-spring-depositing sulfides, Fe oxides, clays, and barite. Sulfide deposition is also likely to occur within the sedimentary pile, owing to their rich organic content and anoxic reducing conditions. Southern Africa2 Geological framework In terms of the geological framework of the African continent, as shown in Figure 3.1, the Southern Africa Region covers the Kalahari and the southern part of the Congo Cratons, many of the surrounding mobile belts accreted to them and extensive over-laying sedimentary basins of various 2 This section has been co-authored with Professor Franco Pirajno of the Centre for Exploration Targeting of the University of Western Australia. 204 | MINERAL RESOURCES OF AFRICA FIGURE 4.28  Part of the East African Rift System, showing the Afar triangle and the lakes in its eastern and western branches, where present-day hydrothermal discharges and sulfides precipitation occur. Source: Pirajno, 2020. ages ranging from Archean (for example, the Witwatersrand Basin hosting the famous modified Au-U placer deposits), through Middle Proterozoic (for example, the Kalahari Basin with the largest sedimentary Mn deposits in the world and important iron-ore deposits), to Phanerozoic (for example, the Permian to Early Jurassic Karoo Basin with its significant coal and uranium resources). Exploration number and cost of discoveries and related metal content Over the period 1960–2023, there were a total of 294 exploration discoveries in the Southern Africa region. These included 15 Tier 1, 30 Tier 2, 113 Tier 3, and 136 Tier 4 and undifferentiated deposits. Details of exploration expenditures and number of discoveries over the last 30 years are provided in Figure 4.29, which shows how annual exploration expenditures peaked in 2008 and have decreased on trend since, stabilizing in the last couple of years at the levels prevailing around the turn of the century. The increase in exploration investment in the first decade of the 2000s generated a spate of discoveries culminating in 2008, including major base metals, iron ore, and coal, as well as gold and uranium. Discoveries also included a range of other metallic and non-metallic commodities including some battery minerals, notably graphite. The geographical location and relative value of the 294 historical discoveries are displayed in Figure 4.30, where the diameter of the circles denotes the tier classification of deposits decreasing from the more valuable Tier 1 deposits down to the Tier 4 and unclassified ones. As for previous endowment maps, deposits are color coded into the seven main commodity groups as listed in the map legend. 4. MINERAL POTENTIAL OF AFRICA | 205 FIGURE 4.29  Exploration expenditures and number of mineral discoveries in the Southern Africa region over the last 30 years, broken up by commodity. Source: Exploration expenditure data extracted from S&P Global Market Intelligence and MinEx Consulting’s estimates. In terms of exploration efficiency, as discussed at the end of Section 4.1 and displayed in Figure 4.6, in the last 10 years the average cost per discovery in Southern Africa has been $121 million. This is slightly lower than the average for the continent at $154 million, but still about 55 percent of the average cost per discovery for the rest of the world at $219 million. Figures 4.7 to 4.15 tend to indicate that Southern Africa is still a favored and potentially successful destination for gold exploration, with a unit cost of just $7 per ounce, just over a fifth of the African average at $32 per ounce and a mere thirteenth of the average for the rest of the world at $92 per ounce. This exceptional level of performance is largely due to the the fact that the average size of gold discoveries in the Southern Region are roughly three times that of the other regions. Diamond, PGE, nickel, rare earths, mineral sands, and iron ore have also performed well in the last decade relative to the rest of Africa and the world. Table 4.8 provides a comparison among the Southern Africa regional countries and with Africa and the world at large in terms of the average metal content per square kilometer for seven major mineral commodities. Metallogeny With its world-class mineral deposits, there is little doubt that the Southern Region is the best known and explored region in Africa. However, the exploration coverage has not been uniform and there are still vast areas that, by world standards, should be considered under explored. Gold With rapidly rising prices for gold, it would not be surprising if exploration attention were to focus again on some of the Archaean greenstones belts. Those in Zimbabwe, for instance, contain more 206 | MINERAL RESOURCES OF AFRICA FIGURE 4.30  Geographical location and relative value of all Southern Africa’s mineral discoveries of various commodity groups made between 1960 and 2023. 4. MINERAL POTENTIAL OF AFRICA | 207 TABLE 4.8  Total contained metal per square kilometer for the major mineral commodities in the Southern Africa region. Land Area km2 Contained Metal per km2 oz Au t Cu t Ni t Zn 1 Pb kg U3O8 Ct Dia t Coal t Fe WORLD 135,000,000 103 33.3 3.4 16.8 121.6 - 6,631 2,510 WORLD excl. Africa 104,790,000 97 39.4 4.0 20.6 128.2 - 7,348 2,776 TOTAL AFRICA 30,214,416 124 12.3 1.5 3.6 98.9 - 4,143 1,590 Africa as % of World 22% - - - - - - - - Southern Africa 5,909,614 469 32.4 4.3 11.4 310.2 - 20,386 1,060 Angola 1,246,700 0.3 0.1 - 0.8 - - - 379 Botswana 566,730 4.3 27.4 3.4 1.3 292.7 - 58,278 229 Eswatini 17,364 8 - - - - - 19,339 10,330 Lesotho 30,355 - - - - - - - - Malawi 94,080 - - - - 379.7 - 14,921 - Mozambique 786,380 3.1 0.2 - - - - 21,542 367 Namibia 823,290 20 10.3 - 17.6 1,115 - 543 920 South Africa 1,214,470 2,182 19.4 16.6 31.2 526.2 - 50,554 3,394 Zambia 743,398 10 190.2 0.8 17.0 100.4 - 371 378 Zimbabwe 386,847 240 5.5 7.0 2.0 - - 17,178 82 than 6000 recorded gold occurrences, some of which are of reasonable size and relatively high grade, although not comparable to the very large deposits found in the very geologically similar Archaean greenstone belts of the Australian and Canadian shields. Gold mining in Zimbabwe in recent years has been dominated by undercapitalized small and artisanal producers and has not received adequate exploration attention, due to a variety of largely political reasons. Nickel A similar argument may also be mounted about the exploration potential for nickel sulfide mineralization associated with komatiites in Archaean greenstone belts. Chromium, vanadium, and PGE Even major producing provinces such as the Bushveld Igneous Complex and the Great Dyke of Zimbabwe—well known as major repositories and producers of Cr and Ni, V and PGE—continue to yield important discoveries such as Ivanplats Platreef, 114 years after their original discovery by William Bettel on November 10, 1906. This continuing exploration success has created an impetus for testing the mineral Cr, Ni-Cu, and PGE potential of other under-explored layered intrusions. Examples include the Molopo Farms Igneous Complex in Botswana (about 200 kilometers west of the Bushveld) and the extensive Paleoproterozoic Kunene anorthositic complex and satellite intrusions, straddling the border between southern Angola and Namibia. Fe- Ti-V mineralization has recently been discovered in this complex, but its potential has not yet been fully explored. The presence of Ni-Cu sulfides associated with younger and smaller satellite ultramafic intrusions has also enhanced exploration interest in this area. 208 | MINERAL RESOURCES OF AFRICA Stratabound sediment-hosted copper Asides from mafic-ultramafic layered intrusions, Pirajno (2020) considers that the Southern Region may offer further opportunities to find new mineral deposits, through application of a structured and systematic mineral system approach, and review of the interplay of rifting, sedimentation, and tectono- thermal episodes in exploration terranes of various ages that may not have been fully understood or interpreted from the metallogenic point of view. In this context, it is unlikely that the potential for stratabound, sediment-hosted copper deposits of the Kalahari Copper Belt—which stretches for about 1000 kilometers along the south- eastern margins of the Damaran/Katangan rift basin from central Namibia, through Botswana to north-western Zimbabwe—has been fully defined, particularly in its eastern part. Iron oxide copper gold (IOCG) The range of mineral systems that are known to accompany rift structures related to the emplacement of intraplate magmatism (Large Igneous Provinces [LIP]) include mafic-ultramafic intrusions hosting Ni-Cu-PGE ores, and also possible IOCG-style deposits in uplifted areas associated with regional gravity highs. An example is the Messina (now called Musina, Whembe District) breccia pipe containing Cu sulfide mineralization which is related to the failed Tuli-Sabi-Lebombo rift arms of the so-called Karoo triple junction (Figure 4.31). This breccia pipe is now believed to be linked to intensive degassing of alkaline magmas and hot spring activity during and after the emplacement of the Nuanetsi igneous province intrusions and related volcanism. As the region is still subject to active rifting and volcanism and has a number of active hot springs, Pirajno (2020) hypothesizes that the past conditions linking the Messina breccia pipes with alkaline intrusions and hot springs may find a parallel in the current situation, representing a valid mineral exploration option to be considered for possible younger IOCG-style mineral systems in the Tuli-Sabi-Lebombo rifts. Specialty metals Increased demand generated by the rapidly growing EV battery industry will also see renewed exploration interest directed at assessing the lithium potential of the significant tin-tantalite pegmatites in the Zimbabwean Archaean shield, and subordinately in similar but Neoproterozoic rocks in Namibia. Within the Southern Region, there are also numerous alkaline intrusions and carbonatites, which occupy northeast-trending shear structures created by the separation of South America from southern Africa. These shear structures and associated alkaline and carbonatite rocks extend from Angola through Namibia to South Africa (Fig. 5.17). Some of these areas are currently being explored for diamonds and also for critical commodities such as Y, Nb, Ta, P, Zr, Ti and REE, but many remain unexplored. Diamonds The post-Karoo period is dominated by the emplacement of diamondiferous kimberlites and related placer diamond deposits. Large numbers of kimberlites have been located in the region thanks to tracing of alluvial diamonds and other trace minerals (for example, chrome spinel) to their hard-rock kimberlitic sources, combined with modern airborne geophysical surveys (Figure 4.32). Asides from the now reasonably mature areas of South Africa and Botswana, it is estimated that, over 700 kimberlites have been located in Angola alone and an additional 200 in Zimbabwe. It will take many years before the full potential of these kimberlitic provinces will be adequately explored. 4. MINERAL POTENTIAL OF AFRICA | 209 FIGURE 4.31  The Karoo triple junction (inset) and the failed arm of the Tuli-Sabi-Lebombo rift. Source: Pirajno, 2020. Notes: Figure shows distribution of hot springs and epithermal style alteration that could lead to the discovery of mineral deposits. The tectono-thermal setting of the Messina breccia pipe provides a valid model for the discovery of similar younger mineral deposits. FIGURE 4.32  Alkaline complexes and the Southern Region. 210 | MINERAL RESOURCES OF AFRICA Uranium Exploration potential must still exist for uranium both in intracratonic Karoo basins and in calcrete paleochannel deposits, as exemplified by the Langer Heinrich deposit of Namibia. Soda ash and potash Alkaline brines with significant soda ash and potash occur in the Sua Pan (which means salt in the local language) in northern Botswana, a vast salty expanse formed by the dewatering of the seasonal Makgadikgadi Lake. Given the large size of the Sua Pan, exploration for soda and potash would be justified. Chapter 4 Bibliography Adjo, F. B., A.T. Bolarinwa, L.A. Glodji, F.W. Nguimatsia Dongmo, and J.O. Olajide-Kayode. 2018. “A review of the current state of knowledge on gold mineralization in Benin Republic, West Africa”. Applied Earth Science 128 (1):2–14. https://doi.org/10.1080/25726838.2018.1556503 Baidada, B., A. Alansari, B. Zoheir, S. Ilmen, A. Soulaimani, and M. 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Jowitt. 2018. “Growing global copper resources, reserves and production: Discovery is not the only control on supply”. Economic Geology 113 (6): 1235–1267. https://doi.org/10.5382/ econgeo.2018.4590 Neybergh, H., D. Laduron, H. Martin, and J. Verkaeren. 1980. “The vanadiferous magnetite deposits of the Oursi region, Upper-Volta”. Economic Geology 75 (7): 1042–1052. https://doi.org/10.2113/ gsecongeo.75.7.1042 Parra-Avila, L.A., A.I.S. Kemp, M.L. Fiorentini, E. Belousova, L. Baratoux, S. Block, M. Jessell, O. Bruguier, G.C. Begg, J. Miller, J. Davis, and T.C. McCuaig. 2017 “The geochronological evolution of the Paleoproterozoic Baoulé-Mossi domain of the Southern West African Craton”. Precambrian Research 300: 1–27. https://doi.org/10.1016/j.precamres.2017.07.036 212 | MINERAL RESOURCES OF AFRICA Pedley et  al. (2016), in Frost-Killian S., S. Master, R.P. Viljoen, and M.G. 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Presentation at the IMARC Conference, Melbourne. October 2019. http://minexconsulting.com/trends-in-exploration/ S&P Global Market Intelligence. 2020. “African Exploration Budget Trends 2019”. https://www.spglobal .com/marketintelligence/en/news-insights/blog/african-exploration-budget-trends-2019 S&P Global market Intelligence. 2023. “Africa—mining by the numbers, 2022”. https://www.spglobal.com/ marketintelligence/en/news-insights/blog/african-exploration-budget-trends-2022 Taylor, C.D., K.J. Schulz, J.L. Doebrich, G.J. Orris, P.D. Denning, and M.J. Kirschbaum. 2009. “Geology and nonfuel mineral deposits of Africa and the Middle East”. U.S. Geological Survey Open File Report 2005–1294-E. Reston, VA: US Geological Survey. https://pubs.usgs.gov/of/2005/1294 / e/index.htm Thébaud, N., A. Allibone, Q. Masurel, A. Eglinger, J. Davis, A.-S. André-Mayer, J Miller, M.F. Ouedrago, and M. Jessell. 2020. “The Paleoproterozoic (Rhyacian) gold deposits of West Africa”. 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In this context, the International Energy Agency’s (IEA) (2024) scenarios are fundamental for any analysis: • Net Zero Emissions by 2050 (NZE). In line with the 2015 Paris Agreement and subsequent world leaders’ commitments, this scenario is expected to limit the global temperature rise to 1.5  °C above pre-industrial levels by the year 2100 (with a greater than 50 percent probability). This ambitious scenario is predicated on countries achieving their individual NZE targets on time and in full by 2050, except for China and India that are aiming for 2060 and 2070 respectively. • Announced Pledges Scenario (APS) “assumes that governments will meet, in full and on time, all of the climate-related commitments that they have announced, including longer term net zero emissions targets and pledges in nationally determined contributions (NDCs)”. Under this scenario a temperature rise of 1.7 °C by 2100 is expected (with a 50 percent probability). • Stated Policies Scenario (STEPS) that reflects what governments are currently implementing and that would be consistent with global temperature rises of around 2.4 °C by 2100 (with a 50 percent probability). All scenarios are based on generally accepted average world and regional GDP and population growth assumptions. The IEA (2024) also provides demand forecasts for “key energy transition minerals” under the NZE scenario (see Figure 5.1). It is worth noting that most of these—copper, lithium, cobalt, graphite and potentially in the future, rare earth elements—occur abundantly in Africa. The source of demand is differentiated by the IEA between that generated by clean energy requirements and by all other uses on a time horizon between 2023 and 2040. The former includes demand for clean power generation (solar PV, wind, hydro, nuclear, and other renewables), EV and static storage This Chapter has been co-authored with Prof. Mark Jessell of the Centre for Exploration targeting of the University of 3 Western Australia. | 213 214 | MINERAL RESOURCES OF AFRICA FIGURE 5.1  Global critical minerals demand forecast under the Net Zero Emission by 2050 Scenario. Source: Reproduced with permission from IEA (2024). batteries, transmission and distribution grids, and hydrogen technologies, which are discussed in detail in the 2024 IEA report. Interestingly, at the time of writing, these forecast increases in demand do not appear to be reflected in corresponding rises in prices. By and large these have been falling on trend, with the possible exception of copper. Figure 5.2 (reproduced from a recent analysis carried out by the IMF in Chen, et al., 2024) shows by how many times demand will increase by 2050 compared to 2020 under the IEA’s NZE scenario. Besides the FIGURE 5.2  Ratio of 2050 to 2022 demand. Source: Reproduced with the IMF’s permission from Chen et al. (2024). 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 215 minerals shown in Figure 5.1, Figure 5.2 also displays that the demand for vanadium is expected to be over eight times current levels, primarily on account of its important application in the manufacturing of static redox flow batteries. This makes development of two giant vanadium deposits in South Africa very likely in the medium term. Growth in demand for copper and battery minerals is expected to accelerate soon and to peak around 2035, flattening afterwards. The first reason for this is that the expansion of transmission and distribution networks to accommodate widely geographically dispersed solar and wind generation farms is essentially a one off investment. Second, given an expected life of 10 to 15 years, EV batteries will start to be systematically re-cycled. In this context, many car manufacturers are designing batteries in a manner that facilitates their re-cycling and are diversifying into re-cycling facilities. The popular reaction to expectations of rapidly increasing demand is a mistaken fear of depleting mineral resources, but contrary to expectations, resources have been steadily increasing over time for most commodities. The main supply constraint is in fact the availability of adequate mining and processing capacity. Strategies to increase mineral supply As illustrated in Table 5.1, there are a number of supply strategies that the mining industry could adopt to satisfy the projected increases in demand. Improving capacity utilization and expanding the capacity of existing mining operations It stands to reason that an initial response to increasing demand would be for mining companies to estimate the capital and operating cost of: • improving mining and processing capacity utilization in the first instance; and then • progressing to expand their production capacity if found to be commercially justifiable. TABLE 5.1  Strategies to increase mineral supplies and other factors mitigating supply shortages. Strategies to Increase Mineral Supply 1. Improve current mining and processing capacity utilization. 2. Expand the capacity of existing mines. 3. Progressively better delineate the resources of existing mines and near-mine exploration. 4. Reassess the resources of existing deposits in light of changes in commodity prices and unit cost of production (JORC modifying factors). 5. Develop new mines from the existing project pipeline. 6. Explore (greenfield and brownfield), discover, and develop new deposits. 7. Improve recycling rates. 8. Decrease intensity-of-use through substitution and miniaturization. 216 | MINERAL RESOURCES OF AFRICA For various reasons, productivity and asset utilization in Africa has been allowed to gradually slip. For example, Goodman et al. (2019) suggested that the overall equipment effectiveness for South Africa before the COVID-19 pandemic was 5 percent lower, and unplanned maintenance was 40 percent higher, than those of its global peers. This of course has capital cost implications for African mines compared to other jurisdictions. As prices increase because of perceptions of impending shortages, miners will have a strong incentive and the financial resources to invest in eliminating bottlenecks and alleviating the sources of disruption, as well as increasing equipment availability by adding redundancy to their fleet and lengthening maintenance cycles. However, Goodman et al. (2019) suggest that they should be using advanced data analytics instead to improve equipment monitoring and predictive maintenance, reducing downtime costs by as much as 20 percent and increasing throughput by around 6 percent. In the longer run, a strong incentive would exist to invest in increasing current capacity. Expansion of production at the margin of existing operations can be achieved relatively rapidly and at much less cost and risk than embarking on the development of new mines that may take decades to establish, be more prone to cost overruns, and present significant derisking challenges. Expansion projects will range between a myriad of individually modest but collectively important increments to massive projects. For example, expansion currently being carried out at the Kamoa- Kakula mine in the Democratic Republic of Congo will see capacity increase from 0.34 Mt of copper metal per annum in 2023 to 0.65 Mt per annum at the completion of Phase 3 in 2025. Another important African example is Barrick’s Lumwana copper mine extension in Zambia. The company is investigating the feasibility of developing the Chimiwungo super pit to incorporate a number of operations into a Tier 1 asset, nearly doubling its production rate to 50 Mt per annum and potentially extending the life of mine (LoM) by 40 to 60 years. Progressive better delineation and reassessment of the resources of existing deposits Experience shows that most mines tend to produce well beyond the LoM as estimated in their original feasibility studies determining their economic cut-off grade, proven and probable reserves, and optimal annual rate of production under the then prevailing economic conditions. Structurally complex orebodies normally prove difficult to delineate accurately through surface drilling and their resources tend to grow in response to continuing exploration ahead of development, as well as to adjustments to changing market conditions. Wellmer and Scholz (2017), Wagner and Wellmer (2019) and Cranstone (1998) investigated the process whereby the actual LoM invariably exceeds that originally estimated in feasibility studies for porphyry copper, Mississippi-Valley-type lead-zinc (MVT), and polymetallic volcanogenic massive sulfide (VMS) deposits. LoM expansion multipliers in the range of 1.5 to 3 times were considered likely. A quantitative study of the resources of the Western Australian Archean gold deposits conducted by Guj et al. (2011) indicated that, on average, their resources tend to grow over time at an average rate of 12.5 percent per annum. Similar rates of annual resources growth have been reported by Mudd and Jowitt (2018) in the case of several important copper deposits. De la Torre de Palacios and Espi Rodriguez (2019) provide comprehensive sensitivity analyses of copper and gold deposits. These show that a lowering of the cut-off grade in response to a price 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 217 increase is reflected in an exponential increase in the tonnages of ore above it, albeit at a marginally lower average grade, but nonetheless collectively containing a higher tonnage of metal. All these factors have resulted in the resources of many mineral commodities, as for instance copper (Guj and Schodde, 2025), having increased over time, notwithstanding significant and increasing rates of production. Development of new mines from the existing projects pipeline As already pointed out, compared to the rest of the world, in Africa there is generally a very large time lag between the time of discovery and development of even some of the most attractive mineral deposits. As a consequence, over the years Africa has generated a vast pipeline of undeveloped mineral deposits, as shown in Table 5.2. TABLE 5.2  Number of undeveloped mineral resources in Africa, differentiated by type of mineral and Tier. Number of Undeveloped Resources by Commodity COMMODITY Tier 1 Tier 2 Tier 3 Other Total BASE METALS Copper 1 4 11 36 52 Zinc 0 1 4 10 15 Lead 0 0 0 2 2 Nickel 0 3 9 25 37 PRECIOUS METALS Gold 0 5 83 171 259 PGE 0 2 17 3 22 Silver 0 0 0 1 1 IRON ORE 0 4 40 63 107 FERROALLOY METALS Manganese 0 0 4 1 5 Chromium 0 0 1 1 2 Vanadium 0 0 2 3 5 BATTERY METALS Lithium 1 1 3 5 10 Cobalt 0 1 2 1 4 Graphite 0 1 5 14 20 MINERAL SANDS Ilmenite, Rutile 1 1 7 9 18 Zircon 0 0 1 1 2 (continues) 218 | MINERAL RESOURCES OF AFRICA TABLE 5.2  Number of undeveloped mineral resources in Africa, differentiated by type of mineral and Tier. (Continued) Number of Undeveloped Resources by Commodity COMMODITY Tier 1 Tier 2 Tier 3 Other Total SPECIALTY METALS AND RARE EARTHS Tantalum 0 0 1 2 3 Tin 0 0 0 4 4 Tungsten 0 0 0 1 1 Niobium 0 0 2 4 6 Rare Earths 0 1 8 8 17 DIAMONDS 1 0 3 15 19 BAUXITE 0 3 10 20 33 ENERGY MINERALS Coal 0 4 45 73 122 Uranium 0 2 10 32 44 FERTILIZERS Phosphate 0 3 4 21 28 Potash 0 2 6 1 9 SODA ASH (TRONA) 0 0 0 1 1 TOTAL FOR AFRICA 4 38 278 528 848 On the one hand, this may have the effect of attracting significant foreign direct investment in development of mineral deposits, as investors perceive impending scarcity. On the other hand, it may divert investment from exploration other than for the most critical and precious minerals. Table  5.2 displays the number of African deposits of various commodities that have not yet been developed, broken up by tiers. It will be noted that while only 4 Tier 1 deposits remain to be developed, the number rises rapidly to 38 Tier 2, 278 Tier 3, and 528 Tier 4 deposits. The indicative mine-site value of the 320 undeveloped deposits, ranging from Tier 1 to 3, is $25,409 billion. This figure is of the same order of magnitude as the mine-site value of all currently operating African mines: $22,684 billion. However, this comparison may be misleading as 80 percent of the value of the undeveloped deposits is attributed to Tier 3 deposits, the development of which is likely to be less commercially feasible. Mineral exploration General considerations Chapter  4 discussed the record of exploration investment and mineral discoveries in the African continent in general and at a regional scale, and also considered the prospectivity of various regions both 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 219 conceptually and quantitatively. Consequently, this chapter will focus more on likely future exploration trends, in terms of both commodities focus and innovation in mineral exploration technology. S&P Global Market Intelligence’s “World Exploration Trends 2024” indicates that the world exploration budget for non-ferrous metals fell only very marginally in 2023 to $12.76 billion. The same year, the proportion directed to Africa was of the order of 10 percent of world total, decreasing marginally to U$1.27 billion (or $1.39 billion if ferrous and other bulk minerals are included), having fallen from a peak of $3.3 billion (or 17 percent) in 2012. At the global level availability of exploration funds are positively correlated with the price of metals, and investments tend to be targeted on specific metals exhibiting growing demand at different times as exemplified by copper (Figure 5.3) and gold (Figure 5.4). At the African level however, the correlation has reduced after the peak of 2012 (see Figures 5.5 and 5.6). Similarly, there appears to be a very low level of correlation between African exploration budgets and market sentiment (Figure 5.7) which is generally a major source of exploration funds availability at the global level. Although the reasons for such decreases in correlation of the Africa exploration budgets with metal prices and market sentiment were not specifically investigated in this research, they may include the escalating levels of conflict in the continent and increased perceptions of country risk and fiscal instability. The budget composition in terms of target metals has also been showing change over time, increasing diversion of funds primarily from gold to battery metals, particularly lithium and copper. This trend is particularly evident in Africa, as exemplified by the remarkable recent increases in exploration budgets for lithium, which have risen by 32.4 percent (Figure 5.8), and for copper, which have gone up 22.3 percent on a year-on-year basis. FIGURE 5.3  Correlation of global copper exploration budget with the copper price Sources: MinEx Consulting estimates © February 2025 [Exploration $], LME [Cu price] and USGS [Cu production] 220 | MINERAL RESOURCES OF AFRICA FIGURE 5.4  Correlation of global gold exploration budget with the gold price. Sources: MinEx Consulting estimates © February 2025 [Exploration $], LME [Au price] and USGS & WGC [Au production] FIGURE 5.5  Decreasing correlation between African copper exploration budgets and the price of copper after the 2012 peak. Sources: MinEx Consulting estimates © February 2025 [Exploration $], LME [Cu price] and USGS [Cu production] 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 221 FIGURE 5.6  Decreasing correlation between African gold exploration budgets and the price of gold after the 2012 peak. Sources: MinEx Consulting estimates © February 2025 [Exploration $], ME [Au price] and USGS & WGC [Au production] FIGURE 5.7  Correlation between African exploration budgets and market sentiment. Sources: MinEx Consulting estimates © February 2025 [Exploration $], S&P Global Market Intelligence [S&P Index] 222 | MINERAL RESOURCES OF AFRICA FIGURE 5.8  Historical African budget for lithium exploration. This is consistent with the view of Keith Muller (CEO of Atlantic Lithium) in MAGIC (2024) who sees Africa becoming a major supplier of lithium by the end of the decade, particularly from Zimbabwe, Mali and the Democratic Republic of Congo (see Figure 5.9). Naturally, investment in exploration for and development of critical minerals deposits is not without its risks. Many Australian miners of spodumene have recently found this out: as a result of high volatility, lithium prices have reverted to the long-term mean for 99.5 percent pure lithium carbonate, expressed in Chinese Yuan per metric ton in in Figure 5.10. African jurisdictions keen to attract FDI into value-adding downstream processing of critical minerals to battery precursor products need to also reflect on the additional risks involved, particularly that of substitution. For instance, the US Department of Energy (DOE) and some Original Equipment Manufacturers (OEMs) such as Volkswagen and Tesla have indicated their intention to fund innovative processing and design initiatives aimed to secure adequate domestic supply of critical minerals that are not significantly abundant within the United States. This includes DOE’s objective to eliminate use of cobalt and lithium in batteries in the US market by 2030. These ambitious trends are now being mirrored within the private sector. The trend for decreasing greenfield exploration has continued. Funds are being redirected to mergers and acquisitions (M&A) involving projects at the advanced exploration for feasibility stage, and to brownfield and near-mine exploration that, as shown in Table 5.3, collectively account for 83 percent of the total 2023 African non-ferrous metals exploration budget. This reflects a lack of appetite for risk and a desire for higher profitability and earlier returns. These are prevailing over the potential for larger deposits often associated with greenfield discoveries but characterized by high risk, long development time lags, and complexity. In effect, the market has failed greenfield exploration despite its important role in terms of mineral supply and national economic interest; for this reason, many jurisdictions have introduced incentive schemes to stimulate it. 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 223 FIGURE 5.9  Projected African lithium supply by country. Source: Muller (2024). FIGURE 5.10  Historical price of 99.5 percent pure lithium carbonate, in Chinese Yuan per metric ton. Source: Trading Economics (2024). 224 | MINERAL RESOURCES OF AFRICA TABLE 5.3  2023 African exploration budget for non-ferrous minerals broken down by project stages. STAGE $M % of Total Minesite exploration 651 51% Late-stage exploration/feasibility 402 32% Grassroots exploration 223 17% TOTAL 1276 100% Source: Modified from S&P Global Market Intelligence (2024). According to S&P Global Market Intelligence (2024), there were 2234 exploration companies in the world operating in 2023. Of these, junior and intermediate companies accounted for about 50 percent of the global exploration budget, with the rest represented by major companies, and a minority (3 percent) of government entities active in mineral exploration. Falling metal prices in late 2022 and early 2023 discouraged new initial public offers (IPOs) on the Australian and Canadian stock exchanges that traditionally fund the junior and intermediate exploration companies likely to explore in Africa. Improving market sentiment in late 2023 means that the number of mineral exploration companies active in Africa may have grown from around 285 in 2022 to about 300 now. This number is a slightly higher proportion of the total number of exploration companies in the world (that is, 2234) than would be implied by the 10 percent of the total exploration budget devoted to Africa, and may reflect the “frontier” character of the African continent attracting a larger proportion of risk-taking, entrepreneurial junior companies. As shown in Table  5.4, companies headquartered in Canada and Australia, mostly juniors and intermediates, are by far the most active in the African continent. China accounted for 3 percent of the exploration budget, even though they have consistently been significant investors in the African mining industry, averaging just under $9.4  billion per annum over the eight years preceding the TABLE 5.4  2023 African exploration budget for non-ferrous minerals, broken down by country of origin. 2023 African (non-ferrous) Exploration Budget COUNTRY OF ORIGIN $ Millions % of Total Canada 370 29% Australia 332 26% United Kingdom 230 18% USA 115 9% South Africa 89 7% China 38 3% Others 102 8% TOTAL 1276 100% Source: Modified from S&P Global Market Intelligence (2024). 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 225 COVID-19 pandemic. As a result, Chinese entities own or have stakes in nearly all cobalt producers in the Democratic Republic of Congo and have invested $4.5 billion between 2022 and 2023 to secure significant holdings in most African lithium mines in countries such as Namibia, Zimbabwe, and Mali. Table 5.5 displays the countries of destination of mineral exploration investment in Africa in 2023 in decreasing order. The figures for Mali and for Burkina Faso reflect major decreases due to recent political instability. Mali’s budget decreased by $71 million or 46  percent on a year-on-year basis, contributing to a 3.4 percent decrease in the total African exploration budget for 2023 (S&P Global Market Intelligence, 2024). These falls were to some degree compensated by funds being re-directed into significant increases in Guinea and Zambia, the budget of which increased by $40 million (83 percent) and $37 million (89 percent) respectively. Econometric analysis by Jara et al. (2020) shows that, irrespective of how good the geological potential of a country may be, companies will not commit significant capital to it unless its investment climate exceeds a “minimum threshold”. This may explain why some African countries have a large inventory of undeveloped, high-quality mineral deposits that would no doubt have already been developed if they were located in jurisdictions with more favorable investment regimes. Targeting African mineral systems requires new geoscientific data and knowledge Despite consensus that many parts of Africa are underexplored compared to the rest of the world, the days when a prospector would discover a new mine by stumbling on a mineralized outcrop may be over. Consequently, mineral exploration in Africa is entering a new and progressively more sophisticated phase. TABLE 5.5  2023 African mineral exploration budget for ferrous and non-ferrous metals, broken down by main destination nations. 2023 Mineral Exploration Budget by Country COUNTRY OF DESTINATION $ Millions % Côte d’Ivoire 155 11.1% South Africa 143 10.3% Congo, Dem. Rep. 141 10.1% Ghana 139 10.0% Guinea 124 8.9% Mali 87 6.3% Tanzania 86 6.2% Zambia 84 6.0% Namibia 76 5.5% Burkina Faso 56 4.0% Others 300 21.6% TOTAL 1391 100.0% Source: MinEx Consulting estimates at July 2024, based on data from S&P Capital IQ and including MinEx’s estimates for bulk minerals (coal, iron ore, and bauxite). 226 | MINERAL RESOURCES OF AFRICA Assuming that a business case has been established for exploring for a particular mineral commodity, then mineral exploration involves two distinct phases: • conceptual targeting, followed by • direct detection. There is now general acceptance that ore deposits are part of extensive mineral systems. Consequently, targeting must progressively narrow its focus from the global scale down to a provincial and finally to a district scale (Hronsky and Groves, 2008) to define areas of higher prospectivity. Such an approach lowers exploration risk, justifying securing of mining tenements and improving the cost-effectiveness of follow-up detection activity. The final decision to invest in the detection phase of exploration is further refined with consideration of the general attractiveness of the jurisdiction in which the potential targets rest, in terms of the perceived level of its country risk, the characteristics of its mining regulatory and fiscal regimes, and— importantly—its logistics and infrastructure. In the final analysis, exploration targeting consists of developing mineralization systems and models, and in recognizing their key characteristics and patterns in multilayered geoscientific databases of selected regions. It stands to reason that the degree of data richness of a country’s geoscientific geographical information system (GIS)—in terms of data availability, quality, and attributes—strongly influences the validity of exploration targeting in its territory (Aitken et al., 2018). Sourcing geoscientific data in Africa There are four principal sources of geoscientific data relevant to mineral exploration in Africa: • Host Ministry of Mines and Geological Survey holdings. These organizations typically own regional geological maps and reports, and geophysical and geochemical surveys. These data are usually available for purchase from these organizations, although there can be a significant lag between data acquisition and delivery. • Ex-colonial Geological Surveys holdings. These mostly consist of geological maps, as well as some geochemical and geophysical surveys. The legal ownership of these data often makes public access difficult and remains an issue. • Mining Company Holdings. These data consist of permit-scale geophysical surveys, geological maps and reports, drillhole logs, and petrophysical and geochemical surveys. Although some of these data may be provided to local geological surveys on an annual basis or on relinquishment of permits, smaller companies do not usually possess facilities for the long- term archiving of these data. • Research Data. Geochronology, detailed structural mapping, metamorphic data, and outcrop databases may be available in scientific publications and/or via research collaborations such as the West African Exploration Initiative (WAXI). In the past these have not had comprehensive data archiving capabilities, although this is now changing (Jessell, 2018). These data may be 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 227 available in supplementary material of publications, with additional data available on request, but usually only while the research is ongoing. A broad range of Continental to Belt-scale measurements, including satellite and global geophysical data, are available via country or regional organizations, including the US National Aeronautics and Space Administration (NASA), the European Space Agency (ESA), the Japanese Aerospace Agency (JAXA), and the USGS. As a consequence, development of data-rich GIS systems in Africa is advanced in some jurisdictions but at a relatively early stage in many others. Most jurisdictions have now embarked on the laborious process of capturing and digitizing historical geoscientific data and information, and progressively gathering and adding new information to their GIS databases, but the process is far from being complete and up to date. The process commences with locating and digitizing legacy information often held in foreign ex-colonial, national geological surveys and academic institutions. This includes a vast array of mining companies’ report submitted in compliance with their exploration and mining titles conditions, submitted in a variety of different hardcopy and digital formats. There is no obvious funding mechanism to support the upgrade of these data. Ideally, strict protocols should be put in place to facilitate efficient capture of geoscientific data and information as these are progressively generated by exploration and mining companies active in a given country. Given the insufficiency of adequate protocols and the fact that the geodata infrastructure in the host country is often not in a position to adequately integrate the data into a harmonized system, many exploration and mining companies do not regularly supply data to the host country. Some have even proven to be unreliable curators of their own data, particularly once an exploration project is dropped or a mine closed. Most African jurisdictions understand the criticality of collecting good quality geoscientific data and information and making this available to external surveyors. The process is slow, however, and funds to reach adequate coverage are often beyond the financial means of some countries. Currently, airborne magnetic data cover at least 75 percent of the African continent (Figure 5.11), with somewhat less covered by airborne radiometrics (gamma ray spectroscopy). There are around 200,000 ground-based gravity measurements. Had they been carried out on a regular grid (which is far from the case), these would have been equivalent to a 40km grid spacing. Satellite data are of course ubiquitous, however their utility varies from region to region. It is a powerful exploration tool in desertic areas, but its value diminishes in Sahel and forested regions. Geological map coverage of the continent is only complete at the scale of 1:1 million; publicly available data at finer scales are very variable, and rarely harmonized with respect to their legends, even within a single country. All other geological datasets held by national organizations are considerably more. The role of innovative-technology and artificial intelligence (AI) in mineral exploration and mining A comprehensive review of the current stage of development and application of AI in mineral exploration is provided by Yang et al (2024). They define AI as a “technological science designed to investigate and develop theories, methods, technologies, and application systems that enable the simulation, improvement, and extension of complex human intelligence”. As illustrated in Figure 5.12, an ideal AI algorithm should be designed to be able to integrate geological knowledge and mineral exploration data. However, currently most AI applications for mineral exploration appear to be primarily based on data-driven research. 228 | MINERAL RESOURCES OF AFRICA FIGURE 5.11  Coverage of airborne magnetic surveys, WAXI compilations, and ground gravity points for Africa. Source: Airborne magnetic surveys based on Getech, 2024, and Viridien, 2024, WAXI compilations based on Jessell, 2018; and ground gravity points based on the International Gravimetric Bureau (2020). Data-driven automation and robotics have gradually been adopted in mining operational processes throughout the world, providing significant improvements in both productivity and safety. Many of these techniques rely on machine learning (ML) to analyze well-defined, specific operational processes to recognize recurring patterns of events, leading to the formulation of algorithms to determine predictive rules to optimize and automatize future operational decisions (for example, preventative maintenance) Asides from expediting processes, some of these techniques seek to minimize the effect of human subjectivity in decision-making. FIGURE 5.12  Schematic representation of Artificial Intelligence. Source: Inspired by Yang et al., 2024. 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 229 Mineral exploration targeting has traditionally relied on the pattern-recognition ability of individual geologists examining multiple geological, geophysical, and geochemical maps and databases to detect combinations of features indicating the potential for specific mineral systems targets at a regional level and/or even at the project level. Asides from the laborious and time-consuming character of this process, research also indicates high levels of subjectivity, with different geoscientists often coming to very different and inconsistent views of the prospectivity of the geological features of the same region and/or terrane. Development of AI models for application in mineral exploration requires availability of a significant number of researchers with both geoscientific and advanced IT skills, as well as adequate computing capacity, to cater for the continuous iterative processes of training, monitoring, evaluating, and optimizing the learning capacity of models. This represents a challenge but also an opportunity for African universities and research organizations to create and occupy a critical market niche by building a competent domestic workforce trained in geospatial machine learning and AI. Even though in its infancy, there is no doubt that use of AI—and in particular deep learning neural networks—have the potential to identify critical, multi-factor relationships beyond the reach of human capacity, and consequently to trigger future fundamental paradigm shifts in geoscientific research and mineral exploration. However, their reliability depends critically on the scope, quality, and attributes of the database being searched. As already discussed, it is the authors’ opinion that publicly accessible, African geoscientific databases may not yet be comprehensive and robust enough to empower the use of AI effectively at a regional project generation stage. It is understandable that budgetary constraints make it difficult for many jurisdictions in developing countries to fund their geological surveys adequately, even though most decision-makers appreciate the very significant, long-term economic benefits of investing in geoscience. Short-term priorities are often funded by jurisdictions at the expense of chronically under-funding geological surveys, delaying very significant but longer-term benefits at great opportunity cost. To overcome this impediment, some mining companies are developing proprietary databases capable of effectively supporting use of AI algorithms, initially at the level of individual projects and their immediate surroundings, and then gradually expanding them to the regional scale. An example is provided by the recent announcement by KoBold Metals, a company backed by  billionaires Bill Gates and Jeff Bezos, that they have discovered the Mingomba copper deposit in Zambia using AI to reassess historical data. This deposit is said to be comparable in size and grade to the Kamoa-Kakula mine. To date, a resource of 247 Mt at an average grade of 3.64 percent copper (that is, 9 Mt of copper metal), has been delineated, including some ore blocks with grades of up to 5 percent copper. KoBolt and the other joint venture participants (private equity firm EMR Capital that operates the adjacent Lubambe copper mine and Zambia’s public-private mining company ZCCM-IH) intend to expedite the $2 billion Mingomba underground development to start production in 2030. Once at full capacity, the mine should produce at the rate of 500,000 to 600,000 metric tons of copper annually. KoBold’s CEO, Kurt House, in a podcast interview entitled “The great rush for battery metals”, indicated that the main challenge in their success had been a significant effort to progressively locate and capture geoscientific information from a variety of different sources, validating and converting it 230 | MINERAL RESOURCES OF AFRICA to a format suitable for use by KoBold’s AI algorithms (Kann, 2022). He saw this as the first step towards ultimately creating a “Google Maps of the Earth’s crust” to help locate mineral occurrences that may have eluded conventional exploration. The quality and searchability of publicly available geoscientific information sources are better in advanced mineral economies such as Canada and Australia, where these have enabled the establishment of a small number of start-up entrepreneurial companies specializing in the use of AI in mineral exploration. Examples are GoldSpot Discoveries Corporation in Canada and Earth AI Pty. Ltd. in Australia. Both companies adopted the business strategy of providing AI services to assist client exploration companies in identifying desirable projects and/or defining initial drilling targets. GoldSpot has secured over 20 clients and claims credit for significant contributions to a number of discoveries, including New Found Gold Corporation’s Queensway gold deposit in Newfoundland, and Monarch Mining Corporation’s Beaufor gold deposit in the Abitibi Greenstone Belt in Ontario. Earth AI in turn claims to have significantly contributed to Legacy Minerals’ PGE-nickel-copper Gramont discovery (part of their Fontenoy Project) in the Lachlan Fold Belt in the Australian state of New South Wales by helping to locate the first drillhole that led to its discovery. The company’s business model is to limit its involvement to help targeting the initial drilling campaign, and then be compensated in the event of a discovery by means of an ongoing royalty at the rate of 3 percent of future possible net smelting returns (NSR). For both geological surveys and exploration companies, the use of Large Language Models such as ChatGTP may make data cleaning more efficient and produce better quality standardized data sets, which in turn allows more systematic application of ML methodologies. Future employment opportunities may be centered less on traditional technical skills but instead on the ability to efficiently apply democratized ML methodologies to aid better decision making. The availability of open standards for geospatial data such as open science grid (OSG) protocols lower the technological threshold to data delivery. The application of these standards to company data, which are then passed on to ministries in charge of mines on relinquishment of permits and at the end of mining, would have a huge impact on data availability (see Harris and Miller, 2015). Notwithstanding the promise of ML/AI in minerals exploration, there remain a number of challenges to the entire minerals industry and to those working in Africa ein particular. These are summarized in Table 5.6. The way forward In the medium term, the growth in demand for minerals critical to the clean energy transition in combination with Africa’s high prospectivity will help overcome some of the current disincentives for foreign companies to invest in mineral exploration and mine development in Africa. Governments may also come to better appreciate the significant potential economic contribution that collection and dissemination of geoscientific data and knowledge in a format readily usable by the mining industry can make, and may more adequately fund their geological surveys and other geoscientific institutions. 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 231 TABLE 5.6  Challenges for machine learning (ML), artificial intelligence (AI), and geodata in Africa. Challenges for Machine Learning (Ml), Artficial Intelligence, and Geodata in Africa CHALLENGE Description Data availability and Data holdings may be spread across multiple ministries in both the host country and ex-colonial accessibility organizations, and methods of access are often unclear. Data quality and Metadata is often missing from datasets, so analytical standards, units, provenance, and Coordinate preprocessing Reference Systems are unknown. Data sovereignty and Data is tightly held by government agencies due to ministerial pressures. governance Data standardization Data collected by different agencies at different times will use different protocols (for instance, rock names, analytical protocols, languages). ML methods require standardization and harmonization of data before they can be used. Environmental and Agencies other than mining agencies may not have the same data access protocols but may hold key climate data gaps datasets for Environmental and Social Impact planning. Ethical and social Use of African data in international ML/AI data scraping exercises may conflict with national sovereignty of considerations data ownership. Funding and investment External funding programs for data management tend to be sporadic, country-level, and short-lived. For data to remain useful, there needs to be continual investment by the host nation to keep data-delivery mechanisms relevant (for instance, to reflect evolving GIS data standards). Infrastructure and Network and computational infrastructure need to be maintained at a high level if data access is to be made computational resources less time-consuming, by providing online portals for data discovery and delivery. Integration with Traditional data collection methods may need to be revisited so that newly collected data can feed smoothly traditional methods into revised geodata systems. Limited cross-border data Cross-border funding opportunities are rare and often short-term. World Bank and UNDP programs are collaboration essentially country-level agreements. Limited geospatial data Data holdings across Africa are clustered into a few key jurisdictions regionally and within countries, while remaining sparse as a whole. Non-African bias in data ML/AI models need to be trained on relevant datasets. Fortunately, many of the geological environments and models found in Africa can also be found in data-rich regions such as Australia and Canada. Sustainability of ML/AI The speed of ML/AI technological development requires continual upgrading of geodata infrastructures. projects Technical expertise gap African researchers, geological survey staff, and company employees all need to be trained in the effective use of ML/AI tools in aiding decision-making. This typically requires a solid understanding of the fundamental and applied aspects of these techniques so that problems and spurious results can be spotted and rectified. The worth of government investing in geoscience has been demonstrated by independent, cost benefit analysis by The ACIL Allen Consulting (2015) of the Exploration Incentive Schemes (EIS) currently offered in Western Australia. Working with industry, the EIS co-funds on a 50 percent basis the cost of data collection (including initial drilling in “frontier” greenfield prospects and for deeper concealed targets) that, in the absence of this subsidy, would not take place. The review of this initiative over its first six years found that every A$1 million invested in the EIS generated an additional A$23.7m in benefits to the state economy. This sum is made up of A$10.3 million due to additional exploration activity, A$6.2 million from additional taxation and royalties, as well as A$3.9 million and A$3.3 million generated by construction activity and project development respectively. 232 | MINERAL RESOURCES OF AFRICA Inevitably, in Africa there will also be a gradual shift in exploration towards deeper concealed greenfield targets. In a recent example, Ivanhoe Mining recently secured over 22,000 square kilometers of prospecting rights mainly for copper and cobalt in the Moxico and Cuando Cubango provinces of Angola, under a mining investment contract signed with the Angolan National Agency for Mineral Resources. It is also rumored that other majors such as Anglo American and Rio Tinto are investing in the region. Most of these greenfield areas are covered by Kalahari sand and Karoo volcanics rendering conventional exploration techniques less effective. The search for gold and diamonds will continue. At the same time, the current trend to redirect exploration budgets to assess the potential of the numerous swarms of pegmatites for lithium and the large number of alkaline intrusives throughout the continent for rare earths will continue. Powerful AI targeting algorithms are developing gradually and may take some time to make a real impact on future discoveries. In the meantime, exploration will be targeted by increasingly sophisticated conceptual approaches for mineral-systems, and will make use of rapidly advancing detecting techniques. These will include geochemical tools that are greatly improved in terms of portability, lower detection limits, and measurement times, such as portable X-ray fluorescence (XRF) for chemical analysis. Mineral identification and quantification tools using infra-red spectrometry and X-ray diffraction can now also be deployed in the field on soil, drill core, and rock chip samples, as well as down-hole. There have been major advances in ground, down-hole, and airborne geophysics in terms of penetration both in depth and through conductive cover. These are now being paired with increasingly sophisticated georadar applications, data processing, and visualization techniques. Airborne magnetics and radiometrics surveys, as well as gravity gradiometry, now underpin a new wave of regional geology mapping, with closer spacing at project level. Vastly improved airborne electromagnetics methods are routinely employed in exploration, and it is likely that it will soon be possible to conduct induced polarization surveys from the air. This large volume of geological, structural, geophysical, and geochemical data can now be rapidly and accurately located geographically using satellite imagery and multi-spectral coverage. This facilitates their integration and interpretation in generating exploration targets. African countries are likely to continue to rely on FDI in mineral exploration and development in the foreseeable future. But a concerted effort must be made to build up domestic technical capacity and expertise through specialized training and capacity building, particularly in managing and interpreting large geoscientific datasets in support of mineral-system studies and resulting exploration targeting. The gradual penetration of AI in mineral exploration will necessitate the assemblage of appropriate databases and their continuous updating, and iterative processes of training, monitoring, and optimizing machine learning capacity. This will provide a unique opportunity to create and occupy a niche market in Africa for local tertiary and other research institutions to train adequate numbers of geospatial and computer specialists to fill the inevitable skills gap. The technological developments, impressive as they may be, will not displace the need for competent, conventional geoscientists. They will have a role in continuing to enrich our knowledge of the geology 5. Mineral exploration and mining in Africa: Keys to enabling transition to clean energy | 233 of the African continent by mapping and gathering geoscientific data in the field, when these cannot be obtained using remote techniques. Chapter 5 Bibliography ACIL Allen Consulting. 2015. Exploration Incentive Scheme economic impact study. Government of Perth: Western Australia, Department of Mines, Industry Regulation and Safety. https://dmpbookshop. eruditetechnologies.com.au/product/exploration-incentive-scheme-economic-impact-study .doSAIIA. 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Africa hosts the world’s largest resources of PGE (76 percent) and gem diamonds (46.9 percent), ferroalloy metals such as cobalt (50.5  percent) and manganese (66.4  percent), phosphate rock (59.5  percent), and bauxite (56.1 percent), as well as important deposits of gold, iron ore, heavy mineral sands, salt, and potash, and energy minerals such as coal and uranium. In addition, the continent is also emerging as an important source of critical minerals and of a suite of metals/minerals that are the fundamental inputs in the manufacturing of EV batteries and other clean-energy technologies. Besides cobalt and manganese, these include vast resources (57. percent) of graphite and world-class, undeveloped resources of lithium. In terms of the regional distribution of mineral resources, the Southern Region dominates the continent, with 62.7 percent of the total mine-site value of the resources of currently operating mines, and 76.4 percent of undeveloped resources. By contrast, East Africa with 2.5 percent and 7 percent respectively is the lowest producer. At this stage of its exploration history, it is also the least endowed, but not necessarily the least prospective region. Prior to some of the current political instabilities, a perception of high prospectivity and relatively attractive regulatory and fiscal regimes have, in recent decades, seen significant mineral exploration being directed to West Africa, resulting in numerous discoveries and mine developments, particularly for gold. The vast majority (approximately 96 percent) of the African Tier 1 deposits are highly economically competitive and capable of displacing marginal producers elsewhere. They tend to be developed on average within 16 years after their discovery, or just under 20 years if gold and diamond deposits are excluded, as these do not require significant metallurgical and transport infrastructure and generally display rapid payback periods. The historical rate of development falls to 80 percent for Tier 2 deposits and 52 percent for Tier 3, with average time gaps of just under 19 years and 29 years respectively. For a variety of reasons, some African deposits often take many decades before being developed; if they were discovered elsewhere in the world, they would be promptly developed. Of course, the lag between discovery and development is different for different deposits, depending on differences in their potential profitability (a function of their respective individual capital, operating, and tax costs, as well as of their risk) that in part depends on the country in which they are located. Much FDI has traditionally been directed primarily to gold and subordinately to diamonds ahead of most other commodities. This is not surprising given the relatively rapid returns, comparatively lower capital investments due to the generally simpler metallurgy, and lower reliance on transportation infrastructure, particularly in land-locked countries. In recent times, however, there has been | 235 236 | MINERAL RESOURCES OF AFRICA a redirection of exploration budgets from gold to minerals critical to the clean energy transition, particularly lithium and copper of which Africa is highly endowed, and to a lesser degree nickel. Despite its huge mineral endowment and potential, the African continent remains significantly underexplored. In the period 2009–2023, following a peak in 2012, exploration investment fell gradually. The continent only attracted on average around 10 percent of the world total exploration expenditure for non-ferrous minerals, with African budgets in the last eight years ranging between $1 billion and $1.38 billion per annum. This appears to be a significant under-investment, given that the continent covers around 22 percent of the world land mass (excluding Antarctica), and that between 2014 and 2023 a total of 116 significant discoveries were made in Africa, including 8 Tier 1 and Tier 2 deposits. These represented about 20  percent and 14  percent of the corresponding world totals, bearing testimony to its prospectivity. In recent times, most of the exploration discoveries in Africa and elsewhere have been made by junior and intermediate exploration companies. These have proven quick to identify opportunities and to follow them up in the field by raising the necessary risk capital, typically on the Australian, Canadian, and AIM stock exchanges. Junior and intermediate companies represent the majority of the estimated 300 or so exploration companies currently active in Africa. Yet jurisdictions have mostly structured their regulatory and administrative systems to deal primarily with large multinational corporations. A stumbling block is often the reluctance to accept the business model of juniors that rely for their survival on the disposal of equity in projects by way of sale and/or farming out arrangements to major corporations better suited both technically and financially to press on with project development. Collectively, Canada and Australia accounted for 55 percent of the 2023 African exploration budget, with the UK, USA, and South Africa accounting for most of the rest. China accounted for 3 percent of the exploration budget, but over the last 8 years invested an average of $9.4 billion per annum in advanced stage and operating, securing significant stakes in most cobalt producers in the Democratic Republic of Congo, and in most African lithium mines in countries including Namibia, Zimbabwe, and Mali. Geological potential is the most powerful incentive to explore in a country, but it needs to be supported by a minimum level of policy and regulatory standards below which little or no investment will take place. Governments must continue to invest in geoscience to enhance the perception of Africa as a major and largely untapped exploration potential. At the same time, they must press on with continuing reforms and improvements of their mineral regulatory and fiscal regimes and infrastructure. Given the long life of mining projects and their large, up-front capital investments, it comes as no surprise that FDI is attracted to jurisdictions that are politically stable with low chance of conflict, with legal systems and regulatory and fiscal institutions that are perceived as impartial, transparent, and unambiguous, guaranteeing security of tenure and contracts enforceability. From a geological point of view, Geological Surveys should be adequately funded to continue to systematically map the geology of a country at the regional scale. Geological Surveys establish the fundamental lithological, stratigraphic, tectonic, and metallogenic framework that enables the mining industry to identify areas of mineral potential, formulate their mineral exploration models and strategies, and secure exploration tenements over them. Regional geological studies must encompass a multiplicity of surveys besides traditional field-based lithological mapping of both bedrock and 6. CONCLUSION | 237 regolith. This should include using a range of geophysical techniques to collect magnetic, radiometric, gravity, seismic, and electromagnetic data, and geochemical surveys, both on the ground and airborne. All geoscientific data should be collected as layers in comprehensive Geographic Information Systems (GIS), combinations of which can be utilized by explorers to identify patterns characteristic of various mineral systems and/or ore models on which to base their exploration, targeting at both regional and project scale. The process is complex and time-consuming, and prone to the subjective judgement of different geologists. The degree of exploration maturity is different in different regions, being higher in well-established mineral producing provinces such as the Bushveld Complex of Southern Africa and the Zambia and Congo Copperbelts. Here, world class mineral discoveries (for example, Ivanplats Platreef PGM and the Kamoa-Kakula, and more recently KoBold Minerals’ Mingomba copper-cobalt deposits) continue to be made after over 100 years of continuous production. The days when orebodies were found by prospectors stumbling over mineralized outcrops are likely over. Mineral exploration is entering a new and more sophisticated stage that will rely primarily on better integrating and interpreting geoscientific data and knowledge, eventually including wide use of artificial intelligence (AI). Consequently, future exploration success will be highly dependent on the quality and comprehensiveness of a country’s geoscientific databases. In this respect, major advances have already been made by some geological surveys in Africa. But many are still lagging. In some countries, “legacy” geological information is still held on paper or microfilm. This is progressively but slowly being digitized and captured in their GIS, together with significant amounts of geoscientific information continuously generated by mineral exploration and mining companies active in these countries. In this respect, it is important that mining regulatory regimes should require exploration and mining companies to clearly document and regularly report to government in a prescribed digital form, facilitating capture of all the geoscientific information generated by their activities in the GIS. This information should then be made freely available to potential explorers, through a well-structured and easily navigable website. The availability of this information should be actively advertised as new information packages are progressively released, with details of officers to contact for further information and assistance. Because of the slow rate of progress, however, some mining companies have been assembling proprietary geoscientific databases and claiming to have made exploration discoveries on targets selected using their AI algorithms. Notable in the African context is the recent announcement by KoBold Minerals, a company backed by billionaires Bill Gates and Jeff Bezos, to have discovered the Mingomba copper deposit in Zambia using AI to reassess historical data. This deposit is said to be one of the largest in the Zambian Copperbelt and comparable in size and grade to the Kamoa-Kakula mine. In more advanced mineral economies such as Canada and Australia, featuring higher-quality publicly available geoscientific databases, several small, entrepreneurial companies have sprung up to provide AI exploration targeting services in return for equity participation in projects or NSR royalties in the eventuality of a discovery. AI applications, particularly various forms of machine learning, have by now been successfully adopted to improve automation and efficient management of very specific and constrained mining and subordinately exploration processes. But application of AI to the more complex field of exploration 238 | MINERAL RESOURCES OF AFRICA targeting and drillhole siting is essentially still in its infancy. The consensus, however, is that use of AI, and in particular deep learning neural networks, has the potential to rapidly identify critical, multi-factor relationships beyond the reach of human capacity, and consequently to trigger a future fundamental paradigm shift in geoscientific research and mineral exploration. The gradual penetration of AI in mineral exploration will necessitate the assemblage of appropriate databases and their continuous updating, and iterative processes of training, monitoring, and optimizing machine learning capacity. This will provide a unique opportunity for local tertiary and other research institutions to train adequate numbers of geospatial and computer specialists to fill the inevitable skills gap. But there will still to be a need for competent field geoscientists to continue to enrich our knowledge of the geology of African where no information can be gathered by remote sensing techniques. APPENDICES Appendix A: Overview of MinEx “African minerals deposit” database General database structure The main World MinEx database currently contains information on 58,639 mineral deposits of 54 different minerals and metals. Many these deposits (46,898 in total), however, are of “Minor” size or smaller and as such are of limited commercial interest. As shown in Table A.1, this leaves 13,336 unique deposits that are “significant” of “Moderate” size or larger. This number includes 1747 mineral deposits located in Africa. 3 - The figures of Table B being proportional to the areas of different countries cannot be added up The number of African mineral deposits in the MinEx database exceeds those listed in the Resources Information Unit’s (RIU) (2014) database, utilized by the authors in a previous World Bank study (Guj et al. 2017). The RIU indicated that as of 2013, there were a total of 1572 significant projects in Africa, of which 301 were operating mines covering the main base and precious metals, ferroalloy metals, iron ore, bauxite, gemstones, and energy minerals. The additional 175 deposits in the MinEx database may be explained by the expansion of the industry in the last seven years, in combination with the fact that the MinEx database captures a larger number of mineral commodities. The MinEx database also shows a higher (518) number of operating mines. Even allowing for the intervening new mine developments, this indicates that the RIU’s figure may have been understated or that it included a comparatively larger number of related mine sites being aggregated under the umbrella of a single “mining camp”. Of the remaining 1229 deposits in the MinEx database, 774 deposits are undeveloped, including 39 that were at the development/construction stage, with the rest at the advanced exploration to feasibility stage. The remainder of the database entries are operations on care and maintenance or closed mines. The African deposits database utilized in this study has been extracted from the end-April 2020 version of the Global MinEx database. For non-ferrous deposits of various sizes, categories generally comply with the following criteria: • All “giant” deposits include the latest available published information; • Most data for “major” sized deposits are less than one to three years old; and • Most “moderate” sized deposits data are less than three to five years old. It should be recognized that no database will ever have a 100 percent coverage, and that it would be practically impossible to capture the whole population of small-size and largely subeconomic deposits, given that many companies and countries do not give full breakdowns of their current mineral inventory. In addition, many of the very small deposits (defined as “Small workings” or “Prospects” | 239 240 | MINERAL RESOURCES OF AFRICA TABLE A.1  Summary of World and African mineral deposits, broken up by regions and main mineral commodities. A Land Area km2 Total Contained Metal MOz Au Mt Cu Mt Ni Mt Zn 1 Pb Kt U3O8 Mt Coal Mt Fe WORLD 135,000,000 11,126 3,716 354 1,627 11,830 878,000 341,000 AFRICA 30,214,416 3,829 350 45 98 2,766 119,891 55,260 North Africa 6,004,391 23.5 2.2 0.0 19.7 44.5 83.2 2,529.0 West Africa 6,059,346 599.1 2.1 6.3 1.2 847.5 1,696.9 29,330.1 Central Africa 5,721,140 88.8 166.7 6.0 13.1 168.9 0.0 8,476.1 East Africa 6,519,925 137.8 6.3 7.0 5.4 112.9 2,867.7 9,006.0 Southern Africa 5,909,614 2,979.5 173.1 25.3 58.3 1,591.8 115,243.1 5,919.1 Africa as % of World 22% 34% 9% 13% 6% 23% 14% 16% WORLD excl Africa 104,785,584 7,297 3,366 309 1,529 9,064 758,109 285,740 B Land Area km2 Total Contained Metal per Km2 oz Au t Cu t Ni t Zn 1 Pb t U3O8 t Coal t Fe WORLD 135,000,000 82.4 27.5 2.6 12.1 0.09 6,503.7 2,525.9 AFRICA 30,214,416 126.7 11.6 1.5 3.2 0.09 3,968.0 1,828.9 North Africa 6,004,391 3.9 0.4 0.0 3.3 0.01 13.9 421.2 West Africa 6,059,346 98.9 0.4 1.0 0.2 0.14 280.0 4,840.5 Central Africa 5,721,140 15.5 29.1 1.0 2.3 0.03 0.0 1,481.5 East Africa 6,519,925 21.1 1.0 1.1 0.8 0.02 439.8 1,381.3 Southern Africa 5,909,614 504.2 29.3 4.3 9.9 0.27 19,500.9 1,001.6 WORLD excl Africa 104,785,584 69.6 32.1 3.0 14.6 0.09 7,234.9 2,726.9 Notes: 1 - Total contained metal is made up of current resources plus cumulative historic production (ignoring mining & processing losses). Includes byproduct metals. Excludes metal from those deposits smaller than “Moderate” in-size. 2 - Land area for the World excludes 14,000,000 km2 for Antarctica in the database) were found and developed by artisanal workers, who generally do not report their discoveries and/or how much metal they are mining. The coverage of bulk mineral deposits—principally iron ore, coal, and bauxite—is less complete or up-to-date relative to other commodities, particularly regarding deposits located in the Former Soviet Union, Eastern Europe, and China. It also may convey an inadequate impression of the real future potential of the iron-ore industry in many parts of Africa, especially in the West and Central regions. The reason for this is that only a small proportion of the African resources have to date been delineated and announced to a level of confidence deserving a formal reserve classification, the bulk of them in South Africa. The rest of the deposits account for relatively minor formal reserves batched under the category of “others”. By contrast, in the case of the giant Simandou deposit in Guinea, its original reserves were downgraded to 2.76 Bt of resources because of uncertainty in the timing and feasibility of their development. Similarly to large deposits in Congo, they have not been captured by APPENDICES | 241 either the USGS’s or MinEx’s statistics, even though they are very significant and therefore discussed in the body of this report. Table A.1 provides summary information relating to the world’s and Africa’s endowment of a selection of eight of the main mineral commodities. These commodities account for 9,961 deposits out of the 13,336 world total, and for 1411 deposits out of the 1747 located in Africa. The “DATA” spreadsheet contains over 300 columns of data for each mineral commodity. These were hidden in the table below to ease comprehension. Sources of information The MinEx Consulting “Global Mineral Deposits” database has been built up over many years and is based primarily on publicly available information sourced from: • various types of company reports including annual reports, press releases, and presentations at conferences and to stockbrokers; • announcements to stock exchanges, particularly those specializing in mining shares such as the Australian Stock Exchange (ASX), the Toronto Stock Exchange (TSX), the Johannesburg Stock Exchange (JSE), and the London Alternative Investment Market (AIM); • studies in compliance with the Australian Joint Ore Reserves Committee Code (JORC), the Canadian National Instrument 43-101 (NI 43101), and the similar South African Code for the Reporting of Mineral Resources and Mineral Reserves (SAMREC); • specialized technical and trade journals such as Economic Geology, Northern Miner, and Mining Journal, among others; • government reports and project reports filed by mining companies with various Mines Departments and Geological Surveys; • academic research studies and publications; and • personal communications with key people in the mining and securities industry. Database coverage and definitions Minerals and metals The database covers the following 54 individual metals/mineral commodities: andalusite, antimony, arsenic, asbestos, bauxite, bentonite, boron, chromium, coal, copper, diamonds, emerald, fluorite, garnet, gold, graphite, iron ore, jade, kaolin, lapis-lazuli, lead, lithium, magnesium, manganese, mercury, mineral sands, molybdenum, nickel, niobium, palladium, PGE, phosphate, platinum, potash, pyrite, rare earths, ruby, rutile, sapphire, scandium, silver, soda ash, sulfur, talc, tantalum, thorium, tin, TiO2, tungsten, uranium, vanadium, vermiculite, zinc, and zircon. Location The database covers all countries in the world and specifies the political state, territory or province within a country that hosts individual mineral deposits. At this stage, only Canada, USA, Australia, 242 | MINERAL RESOURCES OF AFRICA China, and Indonesia have a full provincial breakdown. Other jurisdictions, such as Brazil and Russia, are currently being updated. Individual mineral deposits are accurately located in terms of their latitude and longitude. In some instances, deposits are grouped into camps defined as a collection of deposits sharing a common proximal location and geology, and usually a common processing facility. This is frequently the case when a group of mines in a general location is owned by a single company that reports their endowments with reference to the entire camp. To prevent “double counting”, any high-level analysis on discovery and endowment should only include the figure for the camp total. For completeness, a list of 1716 duplicate/satellite deposits is given on a separate (“Excluded data”) page of the database. Discovery dates Wherever possible, MinEx has collected information relating to the discovery date of various deposits, which are available for about three quarters of the 13,336 deposits. Many of the deposits with missing discovery dates are in the smaller size range. Regarding deposits in the “major” or larger category, the coverage is 4055/5117 or 79 percent of deposits, and for the “giant” ones, the coverage is 1252/1312 or 95 percent. It should also be noted that, based on the available production history, many of the deposits with missing discovery dates are estimated to have been found prior to 1970. On this basis, the MinEx database used in this study is estimated to cover around 85 percent of all actual discoveries made since 1970, with its coverage of non-bulk deposits estimated at about 90 percent and that of bulk deposits at about 70 percent. Start-up dates The dates on which deposits started operating and producing are also recorded in the database. In some instances, individual deposits may feature more than one successive start-up date if re-opened after a period of care and maintenance, or even if re-developed after having been abandoned over a significant period of time. Shut down dates Shut down dates record the time when a mine suspended operations, in most cases permanently but sometimes temporarily. Primary metal Primary metal refers to the main metal (in value terms) contained in the deposit. For consistency, the value of any byproduct credits (such as silver and gold) in the primary deposit have been converted into metal equivalent. Deposit age MinEx Consulting has recently started compiling data on the geological ages for the various deposits. Where possible this has been broken down by epoch / period / era / eon. For example, the Yanacocha mine has an age classification of “Miocene / Neogene / Cenozoic / Phanerozoic”. The age dates (such as 8.2 to 13.6 Ma for Yanacocha) are either based on reported geochronology or simply inferred from the general age classifications, as for instance the Miocene period running from 5.33 to 23.03 Ma. Efforts were made to use data from mainstream peer-reviewed papers by industry (such as the Centenary Edition of Economic Geology, 2005). An estimate has also been made of the overall “confidence” of the age dates, with dates based on geochronology generally assigned a “medium” to “high” rating, whereas APPENDICES | 243 those inferred from general age classifications (such as Mesozoic) given a “medium” to “low” rating, with “medium” only applying where the classification extends to the epoch period. The classifications are based on the International Chronostratigraphic Chart as published by the International Commission on Stratigraphy. Currently the coverage of the age dates / classifications is good for copper but very limited for the other metals. MinEx plans to work on improving this over the next couple of years. Discovery method The discovery method will vary according to the scale of the project. The “project scale” refers to the main method used to select the tenement package (that is, what technique brought the discoverer into the district) and the “prospect scale” refers to the main method used to decide where to drill the discovery hole. It should be noted that in practice, a range of techniques may have been used, even though the analysis emphasizes the primary method. There are instances, however, where exploration success may be equally attributable to the use of more than one technique, such as geochemistry and geophysics. Size range Mineral deposits are classified by size using the 7 categories as shown in Table A.2a, which provides a standard size definition for each of the 21 mineral commodities included in the database for which published NR43-101 or JORC resource estimates are available. Where no published JORC or NR43-101 resource estimates are available, MinEx has, on the basis of the general information available, estimated a weighted average size for individual deposits as shown in Table A.2b. For those deposits without formally reported resources and/or reserves, MinEx used an educated estimate of their likely size range (giant/major/moderate/minor, and so forth) and assigned to them the weighted average metal content for the relevant size category on a pre-mined resource basis. These subjectively estimated figures, which are highlighted in red italics characters, should be treated as being indicative only. For those commodities where the tonnages of contained metal are not recorded, MinEx has assigned a metal equivalent value: for precious metals and valuable gemstones, this relates to gold, and for all other metals to copper. MinEx has then notionally calculated a corresponding dollar value as shown in Table A.3. Reserves and resources Reserves and resources generally refer to the sum of the measured, indicated, and inferred (MI&I) resource categories, which include any reported proven and probable (P&P) reserves. As the data come from a wide range of sources and different dates, not all the reported resources and reserves are JORC or NR 43-101 compliant. A pre-mined resource includes current resource plus cumulative historic production adjusted where possible for processing losses. For some deposits, the original source data only referred to the pre- mined resource, making it impossible to break the figure down into current resources and historic production. Where this is the case the resource and production data were noted with a “**”. TABLE A2a  Size classification criteria for deposits of 27 mineral commodities for which published NR43-101 or JORC Resources estimates are available. Standard Size Definitions used in the Database. . . . Zinc/Pb Uranium Bauxite Iron ore Thermal Coal Coking Coal Th 1 C Coal Gold Moz Silver Moz PGE Moz Copper Mt Nickel Mt Mt Zn 1 Pb Moly Mt Cobalt Mt Tungsten Mt Mt U3O8 Mt Al2O3 Mt Fe Mt Coal Mt Coal Mt Coal Super-Giant >60 >3000 >120 >25 >5 >60 >7.5 >2.5 >2.5 >1 >5000 >10000 >10000 >5000 >7500 Giant >6 >300 >12 >5 >1 >15 >1.5 >0.5 >0.5 >0.125 >500 >1000 >1000 >500 >750 Major >1 >50 >2 >1 >0.1 >3 >0.3 >0.05 >0.1 >0.025 >100 >200 >200 >100 >150 Moderate >0.1 >5 >0.2 >0.1 >0.01 >0.3 >0.03 >0.005 >0.01 >0.005 >10 >20 >20 >10 >15 Minor >0.01 >0.5 >0.02 >0.01 >0.001 >0.03 >0.003 >0.0005 >0.001 >0.0005 >1 >2 >2 >1 >1.5 Small Workings <0.01 <0.5 <0.02 <0.01 <0.001 <0.03 <0.003 <0.0005 <0.001 <0.0005 <1 <2 <2 <1 <1.5 Prospect na na na na na na na na na na na na na na na Occurrence na na na na na na na na na na na na na na na Unknown na na na na na na na na na na na na na na na Graphite Graphite Rare (Flake) (Amorphous) Lithium Manganese Diamonds Tin Vanadium Niobium Tantalum Earths Chromite Soda Ash Mineral Sands Phosphate Potash Mt Mt TCg Mt TCg Mt Li Mt Mn M Carats Mt Sn Kt V Kt Nb2O5 Kt Ta2O5 Kt REO Mt Cr2O5 Mt Na2CO3 Mt HMS Mt P2O5 K2O Super-Giant >150 >300 >5 >500 >360 >7.5 >6000 >6000 >400 >10000 >25 >800 as Ilmenite equiv ) >1500 >1500 >2500 Giant >30 >60 >1 >100 >36 >1.5 >1250 >1250 >75 >1000 >5 >150 >250 >150 >150 Major >6 >12 >0.2 >20 >6 >0.3 >250 >250 >15 >200 >1 >30 >50 >30 >30 Moderate >0.60 >1.2 >0.020 >2 >0.6 >0.03 >25 >25 >1.5 >50 >0.1 >3 >5 >3 >3 Minor >0.06 >0.12 >0.002 >0.2 >0.06 >0.003 >2.5 >2.5 >0.15 >5 >0.01 >0.3 >0.5 >0.3 >0.3 Small Workings <0.06 <0.12 <0.002 <0.2 <0.06 <0.003 <2.5 <2.5 <0.15 <5 <0.01 <0.3 <0.5 <0.3 <0.3 Prospect na na na na na na na na na na na na na na na Occurrence na na na na na na na na na na na na na na na Unknown na na na na na na na na na na na na na na na TABLE A.2b  Estimated weighted average size for deposits with no published NR43-101 or JORC Resource. Estimated Weighted Average Size# for Deposits with no published NR43-101 or JORC Resource. . . . Gold Silver PGE Copper Nickel Zinc/Pb Moly Cobalt Tungsten Uranium Bauxite Iron ore Thermal Coal Coking Coal Th 1 C Coal Moz Moz Moz Mt Mt Mt Mt Mt Mt Mt U3O8 Mt Al2O3 Mt Fe Mt Coal Mt Coal Mt Coal Super-Giant 80.00 4500 270 37.50 7.50 90.00 11.25 9.00 3.75 1.500 7500 15000 15000 7500 11250 Graphite Graphite Rare (Flake) (Amorphous) Lithium Manganese Diamonds Tin Vanadium Niobium Tantalum Earths Chromite Soda Ash Mineral Sands Phosphate Potash Mt TCC Mt TCg Mt Li Mt Mn M Carats Mt Sn Kt V Kt Nb2O5 Kt Ta2O5 Kt REO Mt Cr2O5 Mt Na2CO3 Mt HMS Mt P2O5 Mt K2O Super-Giant 225 450 7.0 1000 750 11 12000 12000 800 20000 50 1600 3500 2250 2250 Giant 67 134 2.2 223.6 113.8 3.9 2739 2739 173.2 3162 11.2 346 791 474 474 Major 13 27 0.45 44.72 14.70 0.67 559.0 559.0 33.54 447.2 2.24 67.1 112 67 67 Moderate 1.9 3.8 0.06 6.33 1.90 0.09 79.06 79.06 4.743 100.00 0.316 9.49 15.8 9.5 9.5 Minor 0.19 0.38 0.006 0.63 0.19 0.009 7.91 7.91 0.474 15.811 0.032 0.949 1.58 0.95 0.95 Small Workings 0.03 0.06 0.001 0.100 0.030 0.001 1.00 1.00 0.050 2.000 0.005 0.100 0.15 0.15 0.15 Prospect 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 Occurrence 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 Unknown 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 0.000 Moderate 0.32 15.81 0.95 0.32 0.032 0.95 0.09 0.08 0.032 0.011 32 63 63 32 47 Minor 0.032 1.581 0.095 0.032 0.003 0.095 0.009 0.009 0.003 0.0016 3.2 6.3 6.3 3.2 4.7 Small Workings 0.005 0.250 0.015 0.005 0.0005 0.015 0.0010 0.0010 0.0005 0.0002 0.50 1.00 1.00 0.50 0.75 Prospect 0.000 0.000 0.000 0.000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0 0.000 0.000 0.000 0.000 Occurrence 0.000 0.000 0.000 0.000 0.0000 0.0000 0.0000 0.0000 0.0000 0.00000 0.0 0.000 0.000 0.000 0.000 Unknown 0.000 0.000 0.000 0.000 0.0000 0.0000 0.0000 0.0000 0.0000 0.00000 0.0 0.000 0.000 0.000 0.000 Note: The Weighted Average numbers are based on a log-normal distribution between the specified size ranges. They are only used for deposits where tonnages and grade are not reported. 246 | MINERAL RESOURCES OF AFRICA TABLE A.3  Assigned metal equivalent value. Precious Metals Moz Au-eq All Other Mt Cu-eq Equivalent Value Precious Metals US$m All Other US$m 1 SuperGiant 80.00 37.50 $98,867 $239,883 2 Giant 18.97 11.18 $23,448 $71,519 3 Major 2.45 2.24 $3,027 $14,304 4 Moderate 0.32 0.32 $391 $2,023 5 Minor 0.032 0.032 $39 $202 6 Small World 0.005 0.005 $6 $32 7 Prospect 0.000 0.000 $0 $0 8 Unknown 0.000 0.000 $0 $0 Deposit tiers A tier system is used by many industries to rate the size, quality and the general performance / capacity of various business activities. A very formal and well documented three-tier system has been adopted by the UN (2020) to classify the global Sustainable Development Goals (SDGs) indicators (UN, 2015). Operators in some industries may be subject to formal accreditation and ranking using a tier system by an appropriate institution, as for instance the four-tier accreditation of data centers by the Uptime Institute (2020) and the Australian Security and Investment Commission’s (ASIC) tier competence accreditation of professional insurance brokers through approved training. In the context of the mining industry, tier categories have been used informally for a long time by security analysts and the press with frequent reference to “Tier 1” and/or “mid-tier” deposits but with no clear specifications as to the criteria that would justify these classifications. More recently, a four-tier system has been formalized by MinEx Consulting on the basis of relatively stringent quantitative criteria. This tier system based on a combination of orebody characteristics—technical and economic “quality” considerations on the size of deposits—primarily concerns “Major” and higher size classifications as follows: • Tier 1 deposits are “company making” mines. They are large, long-life (more than 20 years) and low-cost (in the first quartile of the cost curve). Using long-run commodity prices they generate more than $600–1000 million of annual revenue (in constant US$ as of 2013 using long-run average commodity prices) for base metals. Other mineral projects need to be equivalent to more than 200,000 metric tons of copper or more than $300 million in revenue per annum, or for diamond and precious metal projects, to more than 250,000 ounces of gold per annum. A Tier 1 deposit has very robust economics and will be developed irrespective of where one currently is in the business cycle and whether the deposit has been fully drilled out. The resource is of a sufficient size/quality that it creates multiple opportunities for expansion. It is expected that the project’s economics will easily exceed the company’s cost of capital plus country risk premium by at least 5 percentage-points, achieving an internal rate of return (IRR) after tax greater than 12 percent in low-risk jurisdictions such as Australia or Canada. This will impact on the capital-intensity of the project. In constant dollars as of January 2013, Tier 1 deposits have a risk-adjusted NPV at the decision-to-build stage greater than $1000 million. As a first pass guess, for modelling purposes, the weighted average value of a Tier 1 deposit (at the APPENDICES | 247 decision-to-build stag) is notionally set at $2000 million in constant dollars as of 2013. This equates to approximately $2663 million in December 2023 dollars. • Tier 2 deposits are “significant” deposits but are not quite as large or long-lived or profitable as Tier 1 deposits, meeting only some of the Tier 1 criteria. Typically, Tier 2 deposits are economically attractive/profitable in all but the bottom of the business-cycle, but have limited “optionality” because of their more modest size and mine life. It is noted that over time, through additional delineation and/or changes in costs or business risk, some Tier 2 deposits may ultimately become Tier 1 deposits. In constant dollars as of 2013, Tier 2 deposits have a risk-adjusted NPV at the decision-to-build stage of $200–$1000 million, with a weighted average value of around $500 million. This equates to $666 million in December 2023 dollars. • Tier 3 deposits represent the bulk of mineral discoveries which are small / marginal. While they can be profitable, at best they do not meet more than one of the Tier 1 criteria. Typically, these projects are only developed during the top of the business cycle. In constant dollars as of 2013, Tier 3 deposits have a risk-adjusted NPV at the decision-to-build stage of US$0–$200m, with a weighted average value of around $80m. This equates to $107 million in December 2023 dollars. • Tier 4 deposits are uneconomic. Using long-run price forecasts, the deposits have negative NPVs at the decision-to-build stage and are unlikely to be developed even at the top of the business cycle. In practice, even though uneconomic, Tier 4 projects do have some “option” value associated with the small-but-real chance that further exploration could find better grades and/or the commodity price may unexpectedly go up. For economic evaluation purposes, Tier 4 deposits are assigned a notional value of approximately $10m in constant dollars as of 2013. This equates to $13 million in December 2023 US dollars. As already indicated, this Tier system differentiates the potential value of deposits based on their virtual NPV as if they were located and developed in low-risk countries with reasonable logistics, using their average capital and operating costs and applying a time- and risk-adjusted discount rate of 12 percent. Of course, their values would be different if the deposits were located in higher-risk jurisdictions necessitating the introduction of a country-risk premium in the discount rate and/or in a higher cost environment affecting the theoretical profitability of individual projects. In reality, aside from other factors such as the possibility of conflict and/or prohibitive logistics and regulatory and fiscal regimes, the profitability of some projects located in less attractive jurisdictions may be affected to the point where their development may be delayed until the price of the relevant commodity increases significantly. This explains why the lag between discovery and development of many African mineral deposits tends to be much longer than in traditional attractive mining jurisdictions such as Australia, Canada, and the USA. Also, within each jurisdiction different deposits will display very different and unique economic characteristics, further differentiating them in terms of their probability of being successfully developed, and consequently of their expected values. The NPVs will also vary with the metal price over the business cycle. As discussed before, the valuations are indicative only and are based on long-term average commodity prices. Current status The current status defines at what stage of the mining cycle the project is; that is, whether it is at the stage of advanced exploration, feasibility, or development/construction, or undeveloped, operating, in care and maintenance, or closed. 248 | MINERAL RESOURCES OF AFRICA Type of exploration In the context of the MinEx database, the following types/stages of mineral exploration are recognized: • Grassroots exploration covers the early stage of exploration in an area separate from a company’s existing operations, although another company may be operating in the area. As a consequence, any economic discovery made will need to be developed as a stand-alone new operation. • Brownfields exploration covers all exploration regardless of its stage at/or in the vicinity of an existing mine site owned by the company. It includes the search for satellite orebodies within an economic transport distance from the operating mine. It excludes production geology carried out for mine scheduling purposes or confirmation drilling on the producing orebody, which is focused on upgrading resources into reserves. Unless exploration is specified as “brownfields” in the MinEx database, the reader should assume that all discoveries are made via grassroots exploration. • Late-stage exploration includes exploration to further define, quantify, and upgrade a previously identified orebody after the initial resources have been identified. It includes advanced exploration, delineation drilling, and all other activities associated with conceptual and feasibility studies up until the decision-to-build stage. This definition is used in S&P Global’s annual surveys of exploration expenditures. Mining style This refers to the current or prospective mode of operation, whether open cut or underground. Type of company The company type refers to the status of the company at the time of discovery (rather than its current status) and it includes the following categories: • Junior explorers are those companies that have limited or no revenue streams to finance their exploration activities. Instead, their principal means of funding exploration is through equity finance. • Small producers are companies with one small mining operation, typically with sales revenues of less than $50 million per annum. • Moderate producers (or “intermediate companies”) are companies with one or two mining operations generating funds for their exploration activities. Under S&P Global’s definition, they typically have sales revenues of around $50–500 million per annum. • Major single producers are companies with multiple mining operations that generate sufficient cashflows to internally fund and develop large mining projects on its own. They tend to be focused on only one or two commodities. • Major multi producers are those major companies with a spread of mining operations and expertise across a broad range of three or more different commodities. APPENDICES | 249 • State owned company generally refers to mines owned and managed by the national government. This is often the case in the countries of the Former Soviet Union and in China. • Oil companies generally refers to companies whose main activity is oil and gas exploration and production. Depth of cover Depth of cover measured in meters refers to whether the deposit at the time of discovery was partially outcropping or concealed at depth under surficial cover resting above the top of the ore body. For blind deposits, the depth of cover used in the analysis refers to the depth for the initial discovery hole to the top of the orebody. Mine-site value of ore Many mineral deposits contain more than one metal. To help make useful comparisons, an estimate is made of the likely mine-site value of the ore. This is based on the average monthly historic price for each metal over the last three years, with a further adjustment for likely recovery rates and transportation and treatment/refining charges. These values provided in the page titled “metal equivalent” should be considered as indicative only. It must be emphasized that the calculated mine-site values, while an important input, do not correspond to the NPV value of individual mines. Rather, they only reflect the “price” realizable on the sale of the ore at each mine gate. To calculate the NPV value, one would need to determine the capital and operating costs of building and operating the mine, the mineral royalties, and income tax payable, and discount the net after-tax cash flow generated by the mine to account for the time value of money adjusted for risk, including a country-risk premium. Consequently, a high mine value in isolation, while desirable, is not a determinant of whether a resource will be developed or not and of it supporting a positive NPV. Appendix A Bibliography Australian Security and Investment Commission (ASIC). 2020. “ASIC Tier 1 (Insurance Broking) Accred- itation Workshop https://download.asic.gov.au/media/yaodteff/asic-s-training-register-listof-tier-1 -courses.pdf S&P Global Market Intelligence. 2024. World Exploration Trends 2024: PDAC Special Edition. S&P Global. https://www.spglobal.com/market-intelligence/en/newsinsights/research/ world-exploration-trends-2024 United Nations. 2015. Transforming our world: the 2030 Agenda for Sustainable Development. New York: United Nations Department of Economic and Social Affairs. https://sustainabledevelopment.un.org/ post2015/transformingourworld United Nations. 2020. Tier Classification for Global SDG Indicators as of 4 December 2024. New York: United Nations Statistics Division. https://unstats.un.org/sdgs/iaeg-sdgs/tier-classification/ Uptime Institute. 2020. “Tier classification system”. https://uptimeinstitute.com/tiers 250 | MINERAL RESOURCES OF AFRICA Appendix B: List of Significant Mineral Deposits in Africa - Sorted by Commodity Number of Significant Deposits = 1888 LEGEND: CURRENT STATUS: OM = Operating mine, CM = Care and maintenance, CMO = Closed mine, PP = Past producer under study, PR = Prospect, AE = Advanced exploration, PFS = Pre-feasibility/scoping, FS = Feasibility study, DC = Development/construction, UD = Undeveloped deposit, SP = Stalled project, Unknown = Unknown MINING STYLE: OP = Open pit, UG = Underground SIZE: MOD = Moderate, MAJ = Major, GIA = Giant, SGIA = Super giant Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ANDALUSITE Number of Significant Deposits = 4 ANDRAFRAX South Africa Andalusite Shale OM OP MOD 21 Mt @ 10% Andalusite ANNESLEY South Africa Andalusite Shale CM OP MOD [est 1 to 10 million tonnes of Andalusite] HAVERCROFT South Africa Andalusite Shale OM OP MOD [est 1 to 10 million tonnes of Andalusite] RHINO MINE South Africa Andalusite Shale OM OP MOD [est 1 to 10 million tonnes of Andalusite] ASBESTOS Number of Significant Deposits = 7 PENGE ASBESTOS South Africa Asbestos Unknown CMO UG 3 MAJ [10 to 50 million tonnes FIELD of Asbestos fibre] SHABANIE Zimbabwe Asbestos Unknown CMO OP 3 MAJ [10 to 50 million tonnes of Asbestos fibre] BARBARTON ASBESTOS South Africa Asbestos Unknown CMO UG MOD [1 to 10 million tonnes FIELD of Asbestos fibre] GATHS Zimbabwe Asbestos Unknown CMO OP UG MOD [1 to 10 million tonnes of Asbestos fibre] HAVELOCK Swaziland Asbestos Unknown CMO OP UG MOD [est 2 Mt of chrysotile] KING Zimbabwe Asbestos Unknown CM UG MOD [1 to 10 million tonnes of Asbestos fibre] MSAULI South Africa Asbestos Unknown CMO OP UG MOD [1 to 10 million tonnes of Asbestos fibre] BARIUM Number of Significant Deposits = 1 BOUJABEUR MINE Tunisia Barium Sed Hosted CM UG MOD [10 to 100 million Stratiform, MVT tonnes of Barite] BAUXITE Number of Significant Deposits = 43 MINIM MARTAP Cameroon Bauxite Laterite FS OP 3 MAJ 1027 Mt @ 45.3% Al2O3 BIRSOK Cameroon Bauxite Laterite AE OP MOD [est 10 to 100 million tonnes of Al2O3] FONGO TONGO Cameroon Bauxite Laterite SP OP MOD 34 Mt @ 47% Al2O3 NGAOUNDAL Cameroon Bauxite Laterite FS OP MOD 88 Mt @ 41.8% Al2O3 MAYUMBE Congo (DRC) Bauxite Laterite PR OP MOD [est 10 to 100 million tonnes of Al2O3] SUMBI Congo (DRC) Bauxite Laterite PR OP MOD [est 10 to 100 million tonnes of Al2O3] APPENDICES | 251 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource NYINAHIN Ghana Bauxite Laterite AE OP 3 MAJ [est 100 to 500 million tonnes of Al2O3] ATEWA RANGE Ghana Bauxite Laterite SP OP MOD [est 10 to 100 million tonnes of Al2O3] AWASO Ghana Bauxite Laterite OM OP 3 MOD 24.3 Mt @ 52% Al2O3 BOFFA Guinea Bauxite Laterite OM OP 1 GIA 1924 Mt @ 33.5% Al2O3 KOUMBIA Guinea Bauxite Laterite SP OP 2 GIA 2100 Mt @ 43.5% Al2O3 LABÉ Guinea Bauxite Laterite SP OP 3 GIA 2500 Mt @ 43% Al2O3 SANGAREDI Guinea Bauxite Laterite OM OP 1 GIA 7579 Mt @ 47% Al2O3 SANTOU HOUDA Guinea Bauxite Laterite AE OP 2 GIA 3200 Mt @ 39% Al2O3 TELIMELE Guinea Bauxite Laterite AE OP 2 GIA 2079 Mt @ 43.6% Al2O3 DABOLA Guinea Bauxite Laterite AE OP 3 MAJ 700 Mt @ 39% Al2O3 DIAN DIAN Guinea Bauxite Laterite OM OP 3 MAJ 795 Mt @ 39% Al2O3 FRIGUIA Guinea Bauxite Laterite OM OP 3 MAJ 425 Mt @ 40% Al2O3 GAC PROJECT Guinea Bauxite Laterite DC OP 3 MAJ 527 Mt @ 37.7% Al2O3 GARAFIRI Guinea Bauxite Laterite PFS OP 3 MAJ 300 Mt @ 41.4% Al2O3 LELOUMA Guinea Bauxite Laterite AE OP 3 MAJ 900 Mt @ 45% Al2O3 SOMALU Guinea Bauxite Laterite AE OP 3 MAJ 459 Mt @ 44% Al2O3 TOUBAL Guinea Bauxite Laterite AE OP 3 MAJ 722 Mt @ 42.6% Al2O3 WOULA Guinea Bauxite Laterite AE OP 3 MAJ 433 Mt @ 45.5% Al2O3 BEL AIR Guinea Bauxite Laterite OM OP MOD 146 Mt @ 44.4% Al2O3 BON AMI Guinea Bauxite Laterite DC OP MOD [est 10 to 100 million tonnes of Al2O3] FAR PROJECT Guinea Bauxite Laterite PFS OP MOD 73 Mt @ 39.9% Al2O3 GAOUAL Guinea Bauxite Laterite AE OP MOD 83.8 Mt @ 51.2% Al2O3 KINDIA Guinea Bauxite Laterite OM OP MOD 206 Mt @ 40.7% Al2O3 LELOUMA SOUTH Guinea Bauxite Laterite AE OP 3 MOD 67 Mt @ 43% Al2O3 PONTI BOWAL Guinea Bauxite Laterite UD OP MOD 195 Mt @ 46.5% Al2O3 WOULA (LINDIAN) Guinea Bauxite Laterite AE OP MOD 64 Mt @ 38.7% Al2O3 MADINA DO BOE Guinea-Bissau Bauxite Laterite UD OP MOD 113 Mt @ 44% Al2O3 ANKAIZINA Madagascar Bauxite Laterite UD OP MOD 55 Mt @ 40.7% Al2O3 FARANFAGANA Madagascar Bauxite Laterite UD OP MOD 98 Mt @ 37% Al2O3 MANANTENINA Madagascar Bauxite Laterite AE OP MOD 165 Mt @ 41% Al2O3 MOUNT MLANJE Malawi Bauxite Laterite SP OP MOD 28.8 Mt @ 43.9% Al2O3 BALEA Mali Bauxite Laterite UD OP MOD 180 Mt @ 42.1% Al2O3 BAMAKO WEST Mali Bauxite Laterite UD OP MOD 74 Mt @ 45.5% Al2O3 FALEA Mali Bauxite Laterite UD OP MOD 106 Mt @ 46.1% Al2O3 KOUBAYA/SITAOUMA Mali Bauxite Laterite AE OP MOD 172 Mt @ 41% Al2O3 PORT LOKO Sierra Leone Bauxite Laterite AE OP MOD 99 Mt @ 45.6% Al2O3 252 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource SML Sierra Leone Bauxite Laterite OM OP MOD 53.6 Mt @ 53.7% Al2O3 CHROMIUM Number of Significant Deposits = 14 EASTERN BUSHVELD: South Africa Cr Mafic Intrusion OM UG 1 GIA [40-200 million tonnes TWEEFONTEIN Hosted (non-NiS of Cr2O3] SECTION dominant) EASTERN BUSHVELD: South Africa Cr Mafic Intrusion OM UG 1 GIA [40-200 million tonnes WINTERVELD SECTION Hosted (non-NiS of Cr2O3] dominant) KLIPFONTEIN/ South Africa Cr Orthomagmatic AE UG 3 GIA [40-200 million tonnes WATERVAL of Cr2O3] BUFFELSFONTEIN South Africa Cr Orthomagmatic OM OP UG 3 MAJ [8-40 million tonnes of CHROME MINE Cr2O3] EASTERN BUSHVELD: South Africa Cr Mafic Intrusion OM UG 1 MAJ [8-40 million tonnes of HELENA SECTION Hosted (non-NiS Cr2O3] dominant) WESTERN BUSHVELD: South Africa Cr Mafic Intrusion CM OP UG 3 MAJ [8-40 million tonnes of AMANDELBULT Hosted (non-NiS Cr2O3] SECTION dominant) WESTERN BUSHVELD: South Africa Cr Mafic Intrusion OM OP UG 3 MAJ [8-40 million tonnes of BOSHOEK SECTION Hosted (non-NiS Cr2O3] dominant) WESTERN BUSHVELD: South Africa Cr Mafic Intrusion OM OP UG 2 MAJ [8-40 million tonnes of MARIKANA SECTION Hosted (non-NiS Cr2O3] dominant) WESTERN BUSHVELD: South Africa Cr Mafic Intrusion OM OP UG 2 MAJ [8-40 million tonnes of RUSTENBURG SECTION Hosted (non-NiS Cr2O3] dominant) EASTERN BUSHVELD: South Africa Cr Mafic Intrusion OM UG 2 MOD [0.8-8 million tonnes of CLAPHAM SECTION Hosted (non-NiS Cr2O3] dominant) EASTERN BUSHVELD: South Africa Cr Mafic Intrusion OM OP UG MOD [0.8-8 million tonnes of JAGDLUST- Hosted (non-NiS Cr2O3] WINTERSVELD dominant) SECTION WESTERN BUSHVELD: South Africa Cr Mafic Intrusion OM TA MOD [0.8-8 million tonnes of BRITS SECTION Hosted (non-NiS Cr2O3] dominant) WESTERN BUSHVELD: South Africa Cr Mafic Intrusion OM OP UG MOD [0.8-8 million tonnes of RUIGHOEK SECTION Hosted (non-NiS Cr2O3] dominant) WESTERN BUSHVELD: South Africa Cr Mafic Intrusion UD UG MOD [0.8-8 million tonnes of UNION SECTION Hosted (non-NiS Cr2O3] dominant) COAL Number of Significant Deposits = 215 KWENENG (COAL GAS Botswana Thermal Sedimentary SP OP 4 GIA 2159 Mt PROJECT) (coal) MASAMA Botswana Thermal Sedimentary AE OP UG 3 GIA 2800 Mt (coal) MMAMABULA Botswana Thermal Sedimentary FS OP 3 GIA 2436 Mt (coal) APPENDICES | 253 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MMAMABULA WEST Botswana Thermal Sedimentary PFS UG 3 GIA 2433 Mt (coal) MMAMANTSWE Botswana Thermal Sedimentary FS OP 3 GIA 1243 Mt (coal) MORUPULE Botswana Thermal Sedimentary OM UG 3 GIA 2287 Mt (coal) MORUPULE SOUTH Botswana Thermal Sedimentary FS OP 3 GIA 2451 Mt (coal) SESE Botswana Thermal Sedimentary FS OP 2 GIA 4395 Mt (coal) TAKATOKWANE Botswana Thermal Sedimentary PFS OP 3 GIA 6884 Mt (coal) TAKATOKWANE SOUTH Botswana Thermal Sedimentary PFS OP 3 GIA 2654 Mt (coal) MABESEKWA Botswana Thermal Sedimentary FS OP 3 MAJ 303 Mt (coal) MEA Botswana Thermal Sedimentary PFS OP 4 MAJ 336 Mt (coal) MOIYABANA Botswana Thermal Sedimentary AE OP UG 3 MAJ 768 Mt (coal) MOOKANE DOMESTIC Botswana Thermal Sedimentary SP OP 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] SECHABA Botswana Thermal Sedimentary AE UG 3 MAJ 1140 Mt (coal) FOLEY Botswana Thermal Sedimentary PFS OP MOD 186 Mt (coal) LETLHAKANE (COAL) Botswana Thermal Sedimentary SP OP MOD 107 Mt (coal) MAGHARA Egypt Thermal Sedimentary PP OP UG MOD 20 Mt (coal) DELBI-MOYA Ethiopia Lignite Sedimentary CMO OP MOD 60 Mt (coal) SAKOA Madagascar Thermal Sedimentary FS OP 3 MAJ 1000 Mt (coal) IMALOTO Madagascar Thermal Sedimentary FS OP MOD 140 Mt (coal) MCHENGA COLLIERY Malawi Thermal Sedimentary OM UN 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] MWABVI COLLIERY Malawi Lignite Sedimentary OM OP 3 MAJ [est 400 to 2000 million (coal) tonnes of coal] NKHACHIRA COLLIERY Malawi Thermal Sedimentary CM UN MOD 38.3 Mt (coal) NORTH RUKURU COAL Malawi Thermal Sedimentary AE UN MOD 23.8 Mt PROJECT (coal) JERADA Morocco Thermal Sedimentary CMO UG MOD [est 20 to 200 million (coal) tonnes of coal] MOATISE/ Mozambique Thermal and Sedimentary AE OP 3 GIA 3935 Mt MUCANHA-VUSI cocking (coal) 254 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MOATIZE (VALE) Mozambique Thermal and Sedimentary OM OP 1 GIA 963 Mt cocking (coal) NCONDEZI Mozambique Thermal Sedimentary FS OP 3 GIA 5557 Mt (coal) NORTH SHORE Mozambique Thermal and Sedimentary FS OP 3 GIA 1350 Mt cocking (coal) REVUBOE Mozambique Thermal and Sedimentary FS OP 3 GIA 1396 Mt cocking (coal) ZAMBEZE Mozambique Thermal and Sedimentary FS OP 3 GIA 1988 Mt cocking (coal) 1165L Mozambique Thermal and Sedimentary SP OP 4 MAJ 360 Mt cocking (coal) BENGA Mozambique Thermal and Sedimentary FS OP 3 MAJ 599 Mt cocking (coal) CHIRODZI Mozambique Thermal and Sedimentary CM OP 3 MAJ 706 Mt cocking (coal) MINA MOATIZE Mozambique Thermal and Sedimentary CM UG 4 MOD 87.2 Mt cocking (coal) ARANOS BASIN COAL Namibia Thermal Sedimentary UN UN 3 MAJ [est 200 to 1000 million DEPOSIT (coal) tonnes of coal] MANEJO/ODELE COAL Nigeria Thermal Sedimentary AE OP UG 4 MAJ [est 200 to 1000 million PROJECT (coal) tonnes of coal] OKABA COLLIERY Nigeria Thermal Sedimentary CMO OP 3 MAJ 435 Mt (coal) UGABO/AJIOLO/ Nigeria Thermal Sedimentary AE OP 4 MAJ [est 200 to 1000 million IBADA APASHA COAL (coal) tonnes of coal] PROJECT ENUGU Nigeria Thermal Sedimentary CMO UG MOD [est 20 to 200 million (coal) tonnes of coal] LAFIA-OBI COAL Nigeria Thermal Sedimentary AE UN MOD 33 Mt DEPOSIT (coal) MAIGANGA Nigeria Thermal Sedimentary CMO OP MOD [est 20 to 200 million (coal) tonnes of coal] OGBOYOGA COLLIERY Nigeria Thermal Sedimentary OM OP MOD 165 Mt (coal) ORUKPA - EZIMO Nigeria Thermal Sedimentary CMO OP MOD 43 Mt COLLIERY (coal) BOIKARABELO South Africa Thermal and Sedimentary SP OP 2 GIA 3456 Mt cocking (coal) CHAPUDI South Africa Thermal Sedimentary AE OP 3 GIA 6399 Mt (coal) GROOTEGELUK South Africa Thermal and Sedimentary OM OP 1 GIA 4815 Mt cocking (coal) IMPUMULELO South Africa Thermal Sedimentary OM UG 3 GIA 1296 Mt (coal) KHUTALA COLLIERY South Africa Thermal Sedimentary OM OP UG 3 GIA 1331 Mt (coal) APPENDICES | 255 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LEANDRA NORTH South Africa Thermal Sedimentary AE UG 2 GIA 1799 Mt (coal) LEANDRA SOUTH South Africa Thermal Sedimentary AE UG 2 GIA 1080 Mt (coal) MATLA COLLIERY South Africa Thermal Sedimentary OM UG 2 GIA 1018 Mt (coal) MIDDELBURG South Africa Thermal Sedimentary OM OP 2 GIA 850 Mt COLLIERY (coal) THABAMETSI South Africa Thermal and Sedimentary FS OP 3 GIA 1019 Mt cocking (coal) VELE South Africa Cocking Sedimentary CM OP UG 3 GIA 793 Mt (coal) VERLOREN VALEY South Africa Thermal Sedimentary AE OP 3 GIA 1314 Mt (coal) WATERBERG South Africa Thermal Sedimentary FS OP UG 3 GIA 3400 Mt (coal) WATERBERG NORTH South Africa Thermal Sedimentary PFS UN 3 GIA 2253 Mt COAL DEPOSIT (coal) AMERSFOORT COAL South Africa Thermal Sedimentary AE UN 3 MAJ [est 200 to 1000 million DEPOSIT (coal) tonnes of coal] ARNOT South Africa Thermal Sedimentary OM OP UG 3 MAJ 373 Mt (coal) BERENICE-CYGNUS South Africa Thermal and Sedimentary AE OP 3 MAJ 1350 Mt cocking (coal) CONSBREY South Africa Thermal Sedimentary AE OP 3 MAJ 292 Mt (coal) DAVEL South Africa Thermal Sedimentary SP UG 4 MAJ 222 Mt (coal) ELITHENI South Africa Thermal and Sedimentary CM OP UG 3 MAJ 300 Mt cocking (coal) GENERAAL South Africa Thermal and Sedimentary FS OP 3 MAJ 407 Mt cocking (coal) GOEDEHOOP South Africa Thermal Sedimentary OM OP UG 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] GOEDGEVONDEN South Africa Thermal Sedimentary OM OP 3 MAJ 552 Mt (coal) HENDRINA South Africa Thermal Sedimentary AE UG 4 MAJ 360 Mt (coal) IMPUNZI COMPLEX South Africa Thermal Sedimentary OM OP UG 3 MAJ 425 Mt (coal) JUTLAND South Africa Coking Sedimentary FS UG 3 MAJ 135 Mt (coal) KHWEZELA South Africa Thermal Sedimentary OM OP UG 3 MAJ 204 Mt (coal) KOORNFONTEIN South Africa Thermal Sedimentary OM UG 3 MAJ 350 Mt COLLIERY (coal) 256 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KRIEL South Africa Thermal Sedimentary OM OP UG 3 MAJ 610 Mt (coal) LEEUWPAN South Africa Thermal and Sedimentary OM OP 3 MAJ 145 Mt cocking (coal) LEPHALALE South Africa Thermal Sedimentary AE OP 3 MAJ 588 Mt (coal) MAFUBE COLLIERY South Africa Thermal Sedimentary CM OP 3 MAJ 202 Mt (coal) MAKHADO South Africa Thermal and Sedimentary FS OP UG 3 MAJ 758 Mt cocking (coal) NAUDESBANK South Africa Thermal Sedimentary AE OP 4 MAJ 289 Mt (coal) NEW DENMARK South Africa Thermal Sedimentary OM UG 3 MAJ 305 Mt (coal) NEW LARGO South Africa Thermal Sedimentary SP OP 3 MAJ 585 Mt (coal) NEW VAAL South Africa Thermal Sedimentary OM OP UG 3 MAJ 453 Mt (coal) NOOITGEDACHT COAL South Africa Thermal Sedimentary AE UG 4 MAJ [est 200 to 1000 million DEPOSIT (coal) tonnes of coal] NTENDEKA COLLIERY South Africa Thermal Sedimentary DC OP UG 3 MAJ 242 Mt (coal) PAARDEKOP COAL South Africa Thermal Sedimentary AE UN 3 MAJ [est 200 to 1000 million DEPOSIT (coal) tonnes of coal] PENUMBRA COLLIERY South Africa Thermal Sedimentary OM UG 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] ROODEKOP COAL South Africa Thermal Sedimentary FS OP 3 MAJ [est 200 to 1000 million DEPOSIT (coal) tonnes of coal] ROODEPOORT COAL South Africa Thermal Sedimentary AE OP 3 MAJ [est 200 to 1000 million PROJECT (coal) tonnes of coal] SAVMORE COLLIERY South Africa Thermal Sedimentary OM UG 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] SCHOONGEZICHT South Africa Thermal Sedimentary OM OP 3 MAJ [est 200 to 1000 million COLLIERY (coal) tonnes of coal] SHANDUKA South Africa Thermal Sedimentary OM OP UG 3 MAJ 532 Mt (coal) SOMERVILLE COAL South Africa Coking Sedimentary AE UG 4 MAJ [est 100 to 500 million PROJECT (coal) tonnes of coal] SOMKHELE COLLIERY South Africa Coking Sedimentary OM OP 3 MAJ [est 100 to 500 million (coal) tonnes of coal] SOUTH RAND South Africa Thermal Sedimentary SP OP UG 4 MAJ 485 Mt (coal) SPITZKOP COLLIERY South Africa Thermal Sedimentary OM OP UG 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] SPRINGBOK FLATS South Africa Thermal Sedimentary SP OP 3 MAJ 1340 Mt (general) APPENDICES | 257 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource STERKFONTEIN COAL South Africa Thermal Sedimentary AE UG 4 MAJ [est 200 to 1000 million PROJECT (coal) tonnes of coal] T COAL PROJECT South Africa Thermal Sedimentary AE UG 4 MAJ [est 200 to 1000 million (coal) tonnes of coal] THEUNISSEN COAL South Africa Thermal Sedimentary AE UG 4 MAJ [est 200 to 1000 million PROJECT (coal) tonnes of coal] TILBURG/ South Africa Thermal Sedimentary AE UN 4 MAJ [est 200 to 1000 million VAALKOPPIES COAL (coal) tonnes of coal] PROJECT TSELENTIS COLLIERY South Africa Thermal Sedimentary OM OP UG 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] TSHIKONDENI South Africa Coking Sedimentary OM UG 3 MAJ [est 100 to 500 million COLLIERY (coal) tonnes of coal] TWEEFONTEIN South Africa Thermal Sedimentary OM OP UG 3 MAJ 1142 Mt (coal) TWISTDRAAI COLLIERY South Africa Thermal Sedimentary OM UG 3 MAJ 423 Mt (coal) UNION South Africa Thermal Sedimentary SP OP 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] VAAL BASIN South Africa Thermal Sedimentary AE OP UG 3 MAJ 697 Mt (coal) VOORBURG South Africa Coking Sedimentary FS UG 3 MAJ 135 Mt (coal) WATERBERG SOUTH South Africa Thermal Sedimentary AE UN 3 MAJ 895 Mt COAL DEPOSIT (coal) WELTEVREDEN South Africa Thermal Sedimentary AE OP UG 3 MAJ 547 Mt (coal) WOLVEKRANS South Africa Thermal Sedimentary OM OP UG 3 MAJ [est 200 to 1000 million COLLIERY (coal) tonnes of coal] ZIBULO South Africa Thermal Sedimentary OM OP UG 3 MAJ 690 Mt (coal) ZONNEBLOEM COAL South Africa Thermal Sedimentary AE OP 4 MAJ [est 200 to 1000 million DEPOSIT (coal) tonnes of coal] AVIEMORE South Africa antracite Sedimentary OM UG MOD 57.4 Mt (coal) BELFAST South Africa Thermal and Sedimentary PFS OP MOD 133 Mt cocking (coal) BELFAST South Africa Thermal Sedimentary DC OP UG MOD 133 Mt (coal) BLOCK IV COAL South Africa Thermal Sedimentary SP UG MOD 180 Mt PROJECT (coal) BOSCHHOEK/ South Africa Mixed Sedimentary SP UG MOD 55.1 Mt BOSCHKLOOF (coal) BOSCHMANSPOORT South Africa Thermal Sedimentary OM UG MOD [est 20 to 200 million COLLIERY (coal) tonnes of coal] BRAAKFONTEIN South Africa Thermal Sedimentary SP OP UG MOD 60.1 Mt (coal) 258 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BRAKFONTEIN South Africa Thermal Sedimentary FS OP MOD 75.8 Mt (coal) BRUMMERSHEIM South Africa Thermal Sedimentary OM OP MOD [est 20 to 200 million (coal) tonnes of coal] BURNSIDE South Africa Thermal and Sedimentary SP OP UG MOD 45.6 Mt cocking (coal) CHELMSFORD South Africa Antracite and Sedimentary OM OP MOD 103 Mt thermal (coal) DANNHAUSER South Africa Antracite and Sedimentary SP UN MOD 16.9 Mt cocking (coal) DE WITTEKRANS South Africa Thermal Sedimentary FS OP UG MOD 115 Mt COMPLEX (coal) DELMAS South Africa Thermal Sedimentary OM OP UG MOD [est 20 to 200 million (coal) tonnes of coal] DONKIN South Africa Thermal and Sedimentary SP OP UG MOD 42.4 Mt cocking (coal) DUNDEE South Africa Thermal Sedimentary CMO UN MOD [est 20 to 200 million (coal) tonnes of coal] EERSTELINGSFONTEIN South Africa Thermal and Sedimentary AE OP MOD [est 15 to 150 million COAL DEPOSIT cocking (coal) tonnes of coal] EIKEBOOM COLLIERY South Africa Thermal Sedimentary OM OP MOD [est 20 to 200 million (coal) tonnes of coal] ELANDSPRUIT South Africa Thermal Sedimentary OM OP MOD 23.9 Mt (coal) ELDERS South Africa Thermal Sedimentary PFS OP UG MOD 165 Mt (coal) ELOFF South Africa Thermal Sedimentary OM OP MOD 410 Mt (coal) FERREIRA South Africa Thermal Sedimentary RE OP MOD 1.3 Mt (coal) GLISA COLLIERY South Africa Thermal Sedimentary OM OP MOD [est 20 to 200 million (coal) tonnes of coal] GLISA SOUTH COAL South Africa Thermal and Sedimentary AE OP MOD [est 15 to 150 million DEPOSIT cocking (coal) tonnes of coal] GREENSIDE South Africa Thermal Sedimentary OM UG MOD 112 Mt (coal) GUGULETHU South Africa Thermal Sedimentary FS OP UG MOD 79.9 Mt (coal) HARTOGSHOF South Africa Thermal Sedimentary AE UN MOD [est 20 to 200 million (coal) tonnes of coal] HEIDELBERG South Africa Thermal Sedimentary SP UG MOD 191 Mt (coal) HOLFONTEIN South Africa Thermal Sedimentary SP UG MOD 55 Mt (coal) ILANGA South Africa Thermal Sedimentary CM OP UG MOD [est 20 to 200 million (coal) tonnes of coal] APPENDICES | 259 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ISIBONELO South Africa Thermal Sedimentary OM OP MOD 108 Mt (coal) KANGALA South Africa Thermal Sedimentary CM OP MOD 105 Mt (coal) KANGWANE South Africa Antracite Sedimentary SP OP UG MOD 99.7 Mt (coal) KANGWANE SOUTH South Africa Antracite Sedimentary AE OP MOD [est 15 to 150 million COAL PROJECT (coal) tonnes of coal] KENDAL South Africa Thermal Sedimentary CMO OP MOD 30.5 Mt (coal) KIEPERSOL South Africa Thermal Sedimentary OM UG MOD 51 Mt (coal) KLEINFONTEIN JICAMA South Africa Thermal Sedimentary AE UN MOD 22 Mt (coal) KLIPSPRUIT COLLIERY South Africa Thermal Sedimentary OM OP MOD 139 Mt (coal) KWAGGA COLLIERY South Africa Thermal Sedimentary OM OP MOD [est 20 to 200 million (coal) tonnes of coal] LEARYDALE South Africa Cocking Sedimentary AE OP UG MOD 16.8 Mt (coal) LEMOENFONTEIN South Africa Thermal Sedimentary SP OP MOD 32.1 Mt (coal) MAGDALENA South Africa Thermal and Sedimentary OM OP MOD 23.8 Mt cocking (coal) MBILA South Africa Antracite Sedimentary FS OP MOD 129 Mt (coal) MOABSVELDEN South Africa Thermal Sedimentary FS OP MOD 110 Mt (coal) MOOIPLAATS South Africa Thermal Sedimentary CM UG MOD 86.7 Mt COLLIERY (coal) MPEFU South Africa Thermal and Sedimentary AE OP UG MOD 120 Mt cocking (coal) MT STUART South Africa Thermal Sedimentary AE UG MOD 55.5 Mt (coal) NEW CLYDESDALE South Africa Thermal Sedimentary CMO OP UG MOD 139 Mt (coal) NEWCASTLE South Africa Cocking Sedimentary AE UG MOD 16.8 Mt (coal) NOOITGEDACHT 2+4 South Africa Thermal Sedimentary AE UG MOD 55.5 Mt SEAM (coal) NORTHFIELD COAL South Africa Thermal Sedimentary CMO TA MOD [est 20 to 200 million TAILINGS (coal) tonnes of coal] OOGIESFONTEIN South Africa Thermal Sedimentary AE OP MOD 80 Mt (coal) OVERVAAL South Africa Thermal Sedimentary PFS UG MOD 92.8 Mt (coal) 260 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource PULLENSHOPE South Africa Thermal Sedimentary OM OP UG MOD [est 20 to 200 million COLLIERY (coal) tonnes of coal] RIETKUIL COAL South Africa Thermal Sedimentary FS OP MOD 164 Mt DEPOSIT (coal) SCHOONOORD South Africa Thermal Sedimentary AE OP UG MOD [est 20 to 200 million (coal) tonnes of coal] SPIGAN COAL PROJECT South Africa Thermal Sedimentary FS UN MOD 20.1 Mt (coal) STRATHRAE COLLIERY South Africa Thermal Sedimentary OM OP UG MOD [est 20 to 200 million (coal) tonnes of coal] TELEMA & GRAY South Africa Coking Sedimentary AE OP MOD 66.8 Mt (coal) TNC COAL DEPOSIT South Africa Thermal Sedimentary AE OP MOD [est 20 to 200 million (coal) tonnes of coal] UTRECHT South Africa Thermal Sedimentary OM UG MOD [est 20 to 200 million (coal) tonnes of coal] VAALBANK South Africa Thermal Sedimentary FS UG MOD 22.7 Mt (coal) VANGGATFONTEIN South Africa Thermal and Sedimentary FS OP MOD 127 Mt cocking (coal) VLAKFONTEIN South Africa Thermal Sedimentary PFS OP UG MOD 40 Mt (coal) VLAKPLAATS South Africa Thermal Sedimentary SP OP UG MOD 54.5 Mt (CONTINENTAL COAL) (coal) VLAKPLAATS South Africa Thermal Sedimentary SP OP MOD 179 Mt (UNIVERSAL PULSE) (coal) VOGELFONTEIN South Africa Thermal Sedimentary PFS UG MOD 26 Mt (coal) VOORSLAG South Africa Thermal Sedimentary AE OP UG MOD 60.5 Mt (coal) WITBANK South Africa Thermal Sedimentary SP OP MOD 119 Mt (coal) WOESTALLEEN South Africa Thermal and Sedimentary OM OP MOD 76.7 Mt cocking (coal) WOLVENFONTEIN South Africa Thermal Sedimentary SP OP MOD 36.7 Mt (coal) WONDERFONTEIN South Africa Thermal Sedimentary OM OP UG MOD 96.4 Mt (coal) ZULULAND South Africa Antracite Sedimentary OM UG MOD 72.5 Mt (coal) LUBHUKU Swaziland Thermal Sedimentary PP UG MOD 186 Mt (coal) MALOMA ANTHRACITE Swaziland Antracite Sedimentary OM OP UG MOD 44.2 Mt COLLIERY (coal) MPAKA Swaziland Antracite Sedimentary CM UG MOD 55.2 Mt (coal) APPENDICES | 261 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource SUMCOR Swaziland Antracite Sedimentary UD UG MOD 50 Mt (coal) KETEWAKA Tanzania Thermal Sedimentary AE OP 3 MAJ 291 Mt (coal) MCHUCHUMA Tanzania Thermal Sedimentary SP OP 3 MAJ 536 Mt (coal) NGAKA Tanzania Thermal Sedimentary OM OP 3 MAJ 359 Mt (coal) GALULA Tanzania Thermal Sedimentary PFS OP MOD 53 Mt (coal) MBEYA COAL PROJECT Tanzania Thermal Sedimentary PFS OP MOD 121 Mt (coal) RUKWA Tanzania Thermal Sedimentary OM OP MOD 173 Mt (coal) SONGWE-KIWIRA Tanzania Thermal Sedimentary CM OP UG MOD 100 Mt (coal) SONGWE-KIWIRA Tanzania Thermal Sedimentary AE UN MOD 99.7 Mt COAL PROJECT (coal) MAAMBA Zambia Thermal Sedimentary OM OP 3 MAJ 213 Mt (coal) NKANDABWE Zambia Thermal Sedimentary OM UG 3 MOD [est 20 to 200 million (coal) tonnes of coal] LUSULU Zimbabwe Thermal Sedimentary AE OP 4 GIA 110 Mt (coal) SENGWA Zimbabwe Thermal Sedimentary PFS OP 3 GIA 1361 Mt (coal) SESSAMI-KAONGA Zimbabwe Thermal Sedimentary AE OP 3 GIA 1000 Mt (coal) HANKANO Zimbabwe Thermal Sedimentary AE OP 3 MAJ 571 Mt (coal) HWANGE Zimbabwe Thermal Sedimentary OM OP UG 3 MAJ 323 Mt (coal) LUBIMBI Zimbabwe Thermal and Sedimentary PFS OP UG 4 MAJ 550 Mt cocking (coal) LUBU Zimbabwe Thermal and Sedimentary AE OP 4 MAJ 786 Mt cocking (coal) MASSABI Zimbabwe Thermal Sedimentary SP OP 3 MAJ [est 200 to 1000 million (coal) tonnes of coal] WESTERN AREA Zimbabwe Thermal Sedimentary CM OP 3 MAJ 952 Mt (coal) BUBYE Zimbabwe Thermal and Sedimentary OM UG MOD 60 Mt cocking (coal) CHABA Zimbabwe Thermal Sedimentary OM OP MOD 103 Mt (coal) ENTUBA Zimbabwe Thermal and Sedimentary OM OP UG MOD 110 Mt cocking (coal) 262 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MALILONGWE Zimbabwe Thermal Sedimentary UD OP MOD [est 20 to 200 million (coal) tonnes of coal] SEBUNGU Zimbabwe Thermal Sedimentary AE OP MOD 83 Mt (coal) SINAMATELLA Zimbabwe Thermal Sedimentary AE OP MOD 96 Mt (coal) TULI Zimbabwe Thermal and Sedimentary OM OP MOD 30 Mt cocking (coal) COBALT Number of Significant Deposits = 10 NKAMOUNA Cameroon Co, Ni, Mn Laterite SP OP 2 GIA 323 Mt @ 0.21% Co + Associated 0.61% Ni BOSS Congo (DRC) Co, Cu Sed Hosted OM OP 3 MAJ 129 Mt @ 0.24% Co + Stratiform 2.15% Cu (Kupfer) PUMPI Congo (DRC) Co, Cu Sed Hosted OM OP 2 MAJ 82 Mt @ 0.17% Co + Stratiform 0.95% Cu (Kupfer) KABOLELA (OLD) Congo (DRC) Co, Cu Sed Hosted CMO UG MOD 0.4 Mt @ 2.38% Co + Stratiform 4.84% Cu (Kupfer) KISANKALA Congo (DRC) Co, Cu Sed Hosted AE OP MOD 5.4 Mt @ 0.47% Co + Stratiform 1.01% Cu (Kupfer) BOU-AZZER Morocco Co, Ni, Au, Unknown OM UG 3 MAJ 8.3 Mt @ 1.38% Co + Ag, As differentiated 0.92% Ni Hydrothermal OPUWO Namibia Co, Cu, Zn VHMS PFS OP UG 3 MAJ 226 Mt @ 0.11% Co + 0.43% Cu STRYDPOORT South Africa Co, Cu, Au, Unknown AE OP 3 MAJ 40 Mt @ 0.2% Co + MOUNTAINS U3O8 0.35% Cu NAMA - ANOMALY A Zambia Co, Cu, Ni Sed Hosted UD OP MOD 43.7 Mt @ 0.05% Co + (OXIDE) Stratiform 0.1% Cu (Kupfer) NAMA - ANOMALY D Zambia Co, Cu, Ni Sed Hosted OM OP MOD 63.9 Mt @ 0.08% Co + (OXIDE) Stratiform 0.03% Ni (Kupfer) COPPER Number of Significant Deposits = 141 CACHOEIRAS DE Angola Cu, Co, Au, Ag Sed Hosted AE UG MOD 18.4 Mt @ 1% Cu BINGA Stratiform (Kupfer) BANANA ZONE Botswana Cu, Ag, Mo, Rh Sed Hosted OM UG 3 MAJ 286 Mt @ 1.43% Cu + Stratiform 13.9g/t Ag (Kupfer) BOSETO Botswana Cu, Ag, Au, Sed Hosted CM OP UG 3 MAJ 179 Mt @ 1.45% Cu + Mo, Zn Stratiform 21.7g/t Ag ZONE 5 Botswana Cu, Ag, Mo, Rh Sed Hosted OM UG 3 MAJ 190 Mt @ 2.04% Cu + Stratiform 22.8g/t Ag (Kupfer) APPENDICES | 263 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource CHALCOCITE ZONE Botswana Cu, Ag Sed Hosted AE OP MOD 32.7 Mt @ 0.64% Cu + Stratiform 6g/t Ag (Kupfer) MAKALA (MATSITAMA) Botswana Cu, Ag Sed Hosted CMO OP MOD 4.7 Mt @ 1.97% Cu + Stratiform 34.7g/t Ag MANGO NE Botswana Cu, Ag, Mo, Rh Sed Hosted PFS UG MOD 21 Mt @ 1.97% Cu + Stratiform 21.3g/t Ag (Kupfer) MOWANA Botswana Cu, Ag Sed Hosted CM OP UG MOD 78.9 Mt @ 1.17% Cu Stratiform NEW DISCOVERY Botswana Cu, Ag Sed Hosted AE OP MOD 7.5 Mt @ 1.63% Cu + Stratiform 27.3g/t Ag (Kupfer) NORTH EAST FOLD Botswana Cu, Ag, Mo, Rh Sed Hosted PFS OP MOD 4.8 Mt @ 2.51% Cu + Stratiform 41.9g/t Ag (Kupfer) OPHION Botswana Cu, Ag Sed Hosted SP UG MOD 14 Mt @ 1% Cu + 12g/t Stratiform Ag TSHUKUDU Botswana Cu, Ag Sed Hosted OM OP UG MOD 80.9 Mt @ 1.02% Cu + Stratiform 15.5g/t Ag ZONE 6 Botswana Cu, Ag, Mo, Rh Sed Hosted PFS OP MOD 17 Mt @ 0.86% Cu + Stratiform 4g/t Ag (Kupfer) ZONE 9 Botswana Cu, Ag, Mo, Rh Sed Hosted AE UN MOD 13.7 Mt @ 1.5% Cu + Stratiform 21.2g/t Ag (Kupfer) GAOUA Burkina Faso Cu, Au Porphyry SP OP 3 MAJ 304 Mt @ 0.32% Cu + 0.35g/t Au DEZIWA Congo (DRC) Cu, Co Sed Hosted FS OP 2 GIA 319 Mt @ 1.44% Cu + Stratiform 0.12% Co (Kupfer) KAKULA Congo (DRC) Cu, Co, Zn Sed Hosted DC UG 1 GIA 739 Mt @ 2.67% Cu Stratiform (Kupfer) KAMOA Congo (DRC) Cu, Co, Zn Sed Hosted DC OP UG 1 GIA 997 Mt @ 2.5% Cu Stratiform (Kupfer) KIPUSHI MINE Congo (DRC) Cu, Zn, Mo, Ag, Sed Hosted OM OP UG 2 GIA 76 Mt @ 5.67% Cu + Pb, Ge Stratiform 14.93% Zn + 4.5g/t Ag (Kupfer) KISANFU Congo (DRC) Cu, Co Sed Hosted DC OP 1 GIA 198 Mt @ 2.09% Cu + Stratiform 0.99% Co (Kupfer) MUTANDA Congo (DRC) Cu, Co Sed Hosted OM OP 1 GIA 352 Mt @ 1.92% Cu + Stratiform 0.62% Co COMIDE Congo (DRC) Cu, Co Sed Hosted CM OP 3 MAJ 34.1 Mt @ 2.02% Cu + Stratiform 0.2% Co (Kupfer) 264 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource DILALA EAST Congo (DRC) Cu, Co Sed Hosted DC UG 2 MAJ 44.7 Mt @ 2.43% Cu + Stratiform 0.81% Co (Kupfer) FRONTIER Congo (DRC) Cu, Co Sed Hosted OM OP 2 MAJ 295 Mt @ 1.2% Cu Stratiform (Kupfer) KAKANDA PROJECT Congo (DRC) Cu, Co Sed Hosted OM OP 2 MAJ 131 Mt @ 2.11% Cu + Stratiform 0.25% Co (Kupfer) KALUKUNDI Congo (DRC) Cu, Co Sed Hosted FS OP 3 MAJ 55.6 Mt @ 2.09% Cu + Stratiform 0.46% Co (Kupfer) KALUMINES Congo (DRC) Cu, Co Sed Hosted PFS OP 2 MAJ 70.1 Mt @ 1.96% Cu Stratiform (Kupfer) KAMBOVE Congo (DRC) Cu, Co Sed Hosted OM OP 2 MAJ 52.8 Mt @ 5.55% Cu + Stratiform 0.51% Co (Kupfer) KANSUKI Congo (DRC) Cu, Co Sed Hosted PFS OP 3 MAJ 217 Mt @ 0.82% Cu + Stratiform 0.24% Co (Kupfer) KINSENDA Congo (DRC) Cu Sed Hosted OM OP UG 3 MAJ 28.9 Mt @ 4.7% Cu Stratiform (red bed) KINSEVERE Congo (DRC) Cu, Co Sed Hosted OM OP 2 MAJ 94 Mt @ 2.32% Cu + Stratiform 0.07% Co (Kupfer) KIPOI Congo (DRC) Cu, Co, Ag Sed Hosted OM OP 3 MAJ 79.1 Mt @ 1.4% Cu + Stratiform 0.05% Co KITOKO Congo (DRC) Cu Sed Hosted AE UG 2 MAJ [est 1 to 5 million Stratiform tonnes of Copper] (Kupfer) LUBEMBE Congo (DRC) Cu Sed Hosted PFS UG 3 MAJ 94.8 Mt @ 2.01% Cu Stratiform (Kupfer) LUISHIA Congo (DRC) Cu, Co, Au, Sed Hosted FS OP 3 MAJ 69.8 Mt @ 2.8% Cu + U3O8 Stratiform 0.17% Co (Kupfer) LUISWISHI Congo (DRC) Cu, Co, U3O8 Sed Hosted OM OP 3 MAJ 24 Mt @ 3.2% Cu + Stratiform 0.33% Co (Kupfer) MAKOKO Congo (DRC) Cu Sed Hosted AE UG 2 MAJ 267 Mt @ 1.86% Cu Stratiform (Kupfer) MUSOSHI Congo (DRC) Cu, Co Sed Hosted AE UG 3 MAJ 42 Mt @ 2.55% Cu Stratiform (Kupfer) RUASHI-ETOILE Congo (DRC) Cu, Co Sed Hosted OM OP 3 MAJ 46.8 Mt @ 2.26% Cu + Stratiform 0.32% Co (Kupfer) APPENDICES | 265 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TENKE Congo (DRC) Cu, Co Sed Hosted OM OP 3 MAJ [est 1 to 5 million Stratiform tonnes of Copper] (Kupfer) DIKULUSHI Congo (DRC) Cu, Ag Sed Hosted OM OP 3 MOD 3.4 Mt @ 6.71% Cu + Stratiform 175.5g/t Ag ECAILLE C Congo (DRC) Cu, Co Sed Hosted AE OP MOD 21.8 Mt @ 1.15% Cu + Stratiform 0.06% Co (Kupfer) KABOLELA Congo (DRC) Cu, Co, PGE, Au Sed Hosted OM OP MOD 11.4 Mt @ 1.3% Cu + Stratiform 0.28% Co (Kupfer) KALONGWE Congo (DRC) Cu, Co Sed Hosted DC OP UG MOD 13.5 Mt @ 2.7% Cu + Stratiform 0.62% Co (Kupfer) KAMFUNDWA Congo (DRC) Cu, Co Sed Hosted OM OP 3 MOD 21.8 Mt @ 2.65% Cu + Stratiform 0.25% Co (Kupfer) KAPULO Congo (DRC) Cu, Ag Sed Hosted CM OP MOD 9.5 Mt @ 2.72% Cu Stratiform (Kupfer) KASALA Congo (DRC) Cu, Co Sed Hosted AE OP 3 MOD [est 0.1 to 1 million Stratiform tonnes of Copper] (Kupfer) KIALA Congo (DRC) Cu Sed Hosted AE UG MOD 8 Mt @ 2.65% Cu Stratiform (Kupfer) KIBOLWE Congo (DRC) Cu Sed Hosted PFS OP MOD 26.3 Mt @ 0.8% Cu Stratiform (Kupfer) KIPUSHI (ANCIENT) Congo (DRC) Cu Sed Hosted PP OP MOD [est 0.1 to 1 million Stratiform tonnes of Copper] (Kupfer) LONSHI (OXIDE) Congo (DRC) Cu Sed Hosted CMO OP 3 MOD 6.5 Mt @ 3.68% Cu Stratiform LONSHI DEEPS Congo (DRC) Cu Sed Hosted AE UG 3 MOD 22.8 Mt @ 3.47% Cu Stratiform LUANSOBE Congo (DRC) Cu Sed Hosted AE OP UG MOD 12.1 Mt @ 1.26% Cu Stratiform (Kupfer) LUISHIA SOUTH Congo (DRC) Cu, Co, Au, Sed Hosted PP OP MOD 15.3 Mt @ 1.23% Cu + U3O8 Stratiform 0.3% Co (Kupfer) LUPOTO Congo (DRC) Cu, Co, Au, Sed Hosted AE OP MOD 12.4 Mt @ 1.35% Cu + U3O8 Stratiform 0.05% Co (Kupfer) LUPOTO (OLD) Congo (DRC) Cu, Co Sed Hosted CMO OP MOD 6.7 Mt @ 3.13% Cu Stratiform (Kupfer) MUTOSHI Congo (DRC) Cu, Co, Au, Ag Sed Hosted PP OP MOD 6.3 Mt @ 5.31% Cu + Stratiform 0.2% Co (Kupfer) 266 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource SHITURU Congo (DRC) Cu, Co Sed Hosted FS OP MOD 7.3 Mt @ 4.24% Cu Stratiform KAMOTO Cu/Co Congo (DRC) Cu, Co, U3O8 Sed Hosted OM OP UG 1 SGIA 584 Mt @ 4.04% Cu + OPERATION Stratiform 0.44% Co (Kupfer) TENKE FUNGURUME Congo (DRC) Cu, Co Sed Hosted OM OP 1 SGIA 1448 Mt @ 2.32% Cu + Stratiform 0.25% Co (Kupfer) BISHA Eritrea Cu, Zn, Au, Ag VHMS OM OP UG 2 MAJ 83.8 Mt @ 1.22% Cu + 4.56% Zn + 0.42g/t Au EMBA DERHO Eritrea Cu, Zn, Ag, Au VHMS FS OP 3 MAJ 85.1 Mt @ 0.67% Cu + 1.28% Zn + 0.23g/t Au ADI RASSI Eritrea Cu, Au, Ag, Zn VHMS AE OP UG MOD 15.8 Mt @ 0.54% Cu + 0.33g/t Au + 1.5g/t Ag ASHELI Eritrea Cu, Zn VHMS DC UG MOD [est 0.1 to 1 million tonnes of Copper] DEBARWA Eritrea Cu, Au, Zn, VHMS FS OP MOD 3.6 Mt @ 2.67% Cu + Ag, Ba 1.1% Zn + 1.82g/t Au HAMBOK Eritrea Cu, Zn, Au, Ag VHMS AE OP MOD 6.9 Mt @ 1.14% Cu + 1.85% Zn + 0.2g/t Au HARVEST Ethiopia Cu, Au, Zn, VHMS PFS OP UG MOD 6.5 Mt @ 1.17% Cu + Ag, Pb 1.43% Zn + 1.32g/t Au GUELB MOGHREIN Mauritania Cu, Au, Co IOCG (exogenic) OM OP 3 MAJ 76.6 Mt @ 1.03% Cu + 0.8g/t Au TIZERT Morocco Cu, Au Sed Hosted DC UG 3 MAJ 132 Mt @ 0.89% Cu + Stratiform 20g/t Ag AKKA Morocco Cu, Au Sed Hosted OM OP UG MOD 16.9 Mt @ 0.95% Cu Stratiform ANTI ATLAS Morocco Cu, Ag Sed Hosted AE OP MOD 9.9 Mt @ 1.02% Cu + Stratiform 17.4g/t Ag BLEIDA Morocco Cu Sed Hosted OM OP MOD 12.1 Mt @ 0.89% Cu Stratiform BOUSKOUR Morocco Cu, Ag Unknown FS UG MOD 24.4 Mt @ 1.34% Cu + differentiated 11.9g/t Ag Hydrothermal OUMJRANE Morocco Cu Hydrothermal OM UG MOD 8.2 Mt @ 1.63% Cu Vein TAZALAGHT Morocco Cu Sed Hosted AE OP UG MOD 3.8 Mt @ 2.43% Cu + Stratiform 28.1g/t Ag CHIDUE Mozambique Cu Unknown UD UN MOD 8.6 Mt @ 1.65% Cu HAIB Namibia Cu, Au, Mo Porphyry PFS OP 3 MAJ 799 Mt @ 0.3% Cu (submarine?) TSUMEB MINE Namibia Cu, Pb, Zn, Ag Replacement/ CMO UG 2 MAJ 28.8 Mt @ 6.46% Cu + Mantos 9.73% Pb + 3.13% Zn GOROB-VENDOME Namibia Cu, Au, Ag VHMS AE OP UG MOD 9.5 Mt @ 1.13% Cu + 0.07g/t Au APPENDICES | 267 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource HOPE Namibia Cu, Au, Ag VHMS PFS OP UG MOD 4.2 Mt @ 1.71% Cu + 0.41g/t Au + 6.1g/t Ag KLEIN AUB Namibia Cu, Ag Sed Hosted CMO UG MOD 18 Mt @ 2% Cu + 45g/t Stratiform Ag (Kupfer) KOMBAT Namibia Cu, Pb, Ag Sed Hosted FS UG MOD 28.4 Mt @ 2.23% Cu + Stratiform 0.9% Pb + 16g/t Ag OMITIOMIRE Namibia Cu Sed Hosted FS OP MOD 137 Mt @ 0.54% Cu Stratiform ONGOMBO Namibia Cu, Au, Ag VHMS SP UG MOD 28.6 Mt @ 0.95% Cu + 0.24g/t Au + 5.5g/t Ag OTJIHASE Namibia Cu, Au, Ag VHMS CM UG MOD 14.9 Mt @ 2.03% Cu + 0.43g/t Au + 8g/t Ag TARANIS Namibia Cu, Au, Ag Sed Hosted AE UG MOD 7.7 Mt @ 1.55% Cu + Stratiform 26.8g/t Ag TSCHUDI (SXEW) Namibia Cu, Ag Replacement/ OM OP MOD 57.7 Mt @ 0.79% Cu + Mantos 0.3g/t Ag WITVLEI Namibia Cu, Ag Sed Hosted AE UG MOD 8.8 Mt @ 1.28% Cu + Stratiform 2.6g/t Ag (Kupfer) PALABORA South Africa Cu, Ni, U3O8, IOCG (endogenic) OM OP UG 1 GIA 1720 Mt @ 0.47% Cu + Ag, Au, Pt, Fe, 0.01kg/t U3O8 Zr, REE O’OKIEP COPPER South Africa Cu, Au IOCG (endogenic) AE OP UG 2 MAJ 130 Mt @ 1.85% Cu CAMP CAROLUSBERG South Africa Cu IOCG (endogenic) CMO OP UG MOD 37.6 Mt @ 1.68% Cu CONCORDIA PROJECT South Africa Cu, Au IOCG (endogenic) SP OP MOD 111 Mt @ 0.42% Cu MUSINA South Africa Cu Breccia Pipe CMO UG MOD 42 Mt @ 1.98% Cu NIGRAMOEP South Africa Cu IOCG (endogenic) CMO OP UG MOD 5.2 Mt @ 2.35% Cu HOFRAT EN NAHAS South Sudan Cu, Au, U3O8, Unknown UD OP UG MOD 9.6 Mt @ 4% Cu + Mo differentiated 1.61g/t Au + 0.11kg/t Hydrothermal U3O8 JEBEL OHIER Sudan Cu, Au Porphyry AE OP 3 MAJ 246 Mt @ 0.44% Cu + (submarine?) 0.08g/t Au KILEMBE Uganda Cu, Co VHMS FS UG MOD 27.5 Mt @ 1.6% Cu + 0.12% Co CHAMBISHI Zambia Cu, Co, Au Sed Hosted OM OP UG 1 GIA 250 Mt @ 1.99% Cu + Stratiform 0.08% Co (Kupfer) KANSANSHI Zambia Cu, Au, Co Sed Hosted OM OP 2 GIA 1782 Mt @ 0.73% Cu + Stratiform 0.12g/t Au KONKOLA (BANCROFT) Zambia Cu, Co Sed Hosted OM UG 1 GIA 894 Mt @ 2.17% Cu Stratiform (Kupfer) KONKOLA DEEPS Zambia Cu Sed Hosted OM UG 2 GIA 215 Mt @ 3.8% Cu Stratiform (Kupfer) 268 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LUBAMBE Zambia Cu, Co Sed Hosted OM UG 2 GIA 289 Mt @ 3.11% Cu Stratiform (Kupfer) LUMWANA Zambia Cu, Au, Co, Ag, Sed Hosted OM OP 2 GIA 2588 Mt @ 0.5% Cu + U3O8 Stratiform 0.02kg/t U3O8 (Kupfer) MINGOMBA Zambia Cu, Co Sed Hosted AE UG 1 GIA 247 Mt @ 3.64% Cu Stratiform (Kupfer) MUFULIRA Zambia Cu Sed Hosted OM UG 1 GIA 733 Mt @ 2.22% Cu + Stratiform 0.09% Co (Kupfer) NCHANGA Zambia Cu, Co Sed Hosted OM OP UG 1 GIA 358 Mt @ 4.12% Cu + Stratiform 0.02% Co (Kupfer) NKANA (ROKANA) Zambia Cu, Co, U3O8 Sed Hosted OM OP UG 1 GIA 547 Mt @ 2.09% Cu + DIVISION Stratiform 0.19% Co (Kupfer) SENTINEL (COPPER) Zambia Cu, Co, Ni Sed Hosted OM OP 2 GIA 1229 Mt @ 0.45% Cu Stratiform (Kupfer) BALUBA Zambia Cu, Co Sed Hosted OM UG 3 MAJ 54.5 Mt @ 1.7% Cu + Stratiform 0.09% Co (Kupfer) CHINGOLA OPEN PIT Zambia Cu Sed Hosted CMO OP 3 MAJ [est 1 to 5 million Stratiform tonnes of Copper] (Kupfer) LUANSHYA (ROAN Zambia Cu, Co Sed Hosted AE UG 2 MAJ 184 Mt @ 2.06% Cu + ANTELOPE) Stratiform 0.19% Co (Kupfer) MULIASHI Cu Zambia Cu, Co Sed Hosted OM OP UG 3 MAJ 92.6 Mt @ 1.4% Cu + OPERATION Stratiform 0.02% Co BANCROFT Zambia Cu, Co Sed Hosted OM UG 3 MOD 29.1 Mt @ 2.48% Cu COPPER-COBALT Stratiform DEPOSIT-ZAMBIA (Kupfer) BWANA MKUBWA Zambia Cu Sed Hosted OM TA MOD 16.8 Mt @ 3.17% Cu (NEW) Stratiform (Kupfer) BWANA MKUBWA Zambia Cu, Talc Sed Hosted CMO OP UG MOD 3.4 Mt @ 3.89% Cu (OLD) Stratiform (Kupfer) CHAMBISHI (OLD Zambia Cu Sed Hosted CMO OP MOD [est 0.1 to 1 million MINE) Stratiform tonnes of Copper] (Kupfer) CHIBULUMA AND Zambia Cu, Co Sed Hosted CMO UG 3 MOD 23 Mt @ 3.32% Cu CHIBULUMA WEST Stratiform (Kupfer) CHIBULUMA SOUTH Zambia Cu, Co Sed Hosted OM OP UG MOD 9.7 Mt @ 2.69% Cu Stratiform (Kupfer) APPENDICES | 269 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource CHILILABOMBWE Zambia Cu, Co Sed Hosted AE UG MOD 19.7 Mt @ 1.92% Cu Stratiform (Kupfer) FITULA Zambia Cu Sed Hosted CMO OP 3 MOD 4.1 Mt @ 5.28% Cu Stratiform KALABA Zambia Cu, Co, U3O8 Sed Hosted OM OP MOD 16.6 Mt @ 0.94% Cu Stratiform (Kupfer) KALENGWA Zambia Cu, Ag, U3O8, IOCG (exogenic) AE OP MOD 8.6 Mt @ 3% Cu + REE 9.5g/t Ag KANGALUWI Zambia Cu, Au Sed Hosted PFS OP MOD 46 Mt @ 0.67% Cu Stratiform KATANGA (ANCIENT) Zambia Cu Sed Hosted PP OP MOD 1 Mt @ 10% Cu Stratiform MIMBULA Zambia Cu Sed Hosted PFS OP 3 MOD 35.5 Mt @ 1.86% Cu Stratiform (Kupfer) MKUSHI CU-AU CAMP Zambia Cu, Au IOCG CMO OP MOD 30 Mt @ 1.2% Cu MOKAMBO Zambia Cu Sed Hosted CMO UN MOD 12.2 Mt @ 1.79% Cu Stratiform (Kupfer) MUFUMBWE Zambia Cu Sed Hosted UD OP MOD 7 Mt @ 2.2% Cu Stratiform MUMBWA Zambia Cu, Au, Ag, IOCG (exogenic) PFS OP UG MOD 9.5 Mt @ 3.6% Cu U3O8, REE MWAMBASHI Zambia Cu, Co Sed Hosted OM OP MOD 28.7 Mt @ 1.77% Cu Stratiform (Kupfer) NDOLA Zambia Cu Sed Hosted AE OP UG 3 MOD 106 Mt @ 0.85% Cu Stratiform (Kupfer) NYUNGU Zambia Cu, Co Sed Hosted AE OP MOD [est 0.1 to 1 million Stratiform tonnes of Copper] (Kupfer) RIVER LODE Zambia Cu Sed Hosted CMO UG MOD 4.4 Mt @ 2.5% Cu Stratiform (Kupfer) SABLE ANTELOPE Zambia Cu, Ag Sed Hosted CMO UN MOD [est 0.1 to 1 million Stratiform tonnes of Copper] SAMBA Zambia Cu Porphyry AE UN MOD 14 Mt @ 1.1% Cu SEBEMBERE Zambia Cu Sed Hosted UD UN MOD 6 Mt @ 1.9% Cu Stratiform SHIVUMA Zambia Cu, Au, Ag, Unknown OM OP MOD 30 Mt @ 0.73% Cu + cCo, Zn 0.37% Zn + 0.26g/t Au HENAN ZIMBABWE Zimbabwe Cu, Pb, Zn VHMS AE OP MOD 20 Mt @ 1.18% Cu + 0.8% Pb + 0.5% Zn MANGULA Zimbabwe Cu, Ag, Au Sed Hosted CMO UG MOD 10.7 Mt @ 0.91% Cu Stratiform (red bed) 270 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource SANYATI Zimbabwe Cu, Pb, Zn VHMS PP OP MOD 19.9 Mt @ 1.21% Cu + 2.63% Zn SHAMROCKE Zimbabwe Cu, Au, Ag Sed Hosted CMO UG MOD 10 Mt @ 1.5% Cu Stratiform DIAMONDS Number of Significant Deposits = 113 CATOCA Angola Diamonds Alkalic Intrusive OM OP 1 GIA 329 Mt @ 0.70 Ct/t Associated CHIRI Angola Diamonds Alkalic Intrusive SP OP 3 GIA [est 36 to 360 million Associated Carats] CHIUMBE RIVER Angola Diamonds Placer, Alluvial OM PL 1 GIA [est 36 to 360 million ALLUVIALS Carats] CUANGO ALLUVIALS Angola Diamonds Placer, Alluvial OM PL 1 GIA [est 36 to 360 million Carats] LUAXE Angola Diamonds Alkalic Intrusive FS OP 1 GIA [350 million Carats] Associated CAMAFUCA Angola Diamonds Alkalic Intrusive FS OP 3 MAJ 387.6 Mt @ 0.060 Ct/t Associated DUNDO Angola Diamonds Placer, Alluvial CMO AL 2 MAJ [est 6 to 36 million Carats] KAMACHIA-KAMAJIKU Angola Diamonds Alkalic Intrusive CM OP 4 MAJ 26 Mt @ 0.35 Ct/t Associated LUREMO (ALLUVIALS) Angola Diamonds Placer, Alluvial OM PL 3 MAJ [est 6 to 36 million Carats] MULEPE Angola Diamonds Alkalic Intrusive FS OP 3 MAJ 65.7 Mt @ 0.08 Ct/t Associated ALTO CUILO Angola Diamonds Alkalic Intrusive AE OP MOD [est 0.6 to 6 million Associated Carats] CACUILO (ALLUVIALS) Angola Diamonds Placer, Alluvial CMO AL MOD [est 0.6 to 6 million Carats] CALONDA (ALLUVIALS) Angola Diamonds Placer, Alluvial CMO AL MOD [est 0.6 to 6 million Carats] CAMUTUE Angola Diamonds Alkalic Intrusive OM OP MOD [est 0.6 to 6 million Associated Carats] CHICAPA RIVER Angola Diamonds Placer, Alluvial OM PL MOD [est 0.6 to 6 million (ALLUVIALS) Carats] CHIRI (ALLUVIALS) Angola Diamonds Placer, Alluvial CMO PL MOD 480 Mt @ 0.15 Ct/t CHITOTOLO Angola Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million (ALLUVIALS) Carats] FUCAUMA Angola Diamonds Alkalic Intrusive CM PL HR MOD 4.1 mt @ 0.22 Ct/t Associated HUAMBO DISTRICT Angola Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] LUI RIVER (ALLUVIALS) Angola Diamonds Placer, Alluvial OM PL MOD [est 0.6 to 6 million Carats] LULO (KIMBERLITE) Angola Diamonds Alkalic Intrusive AE OP MOD [est 0.6 to 6 million Associated Carats] APPENDICES | 271 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LUMUANZA Angola Diamonds Placer, Alluvial SP PL MOD 52.24 Mt @ 0.038 ct/t in gravels SANGAMINA Angola Diamonds Alkalic Intrusive AE OP MOD [est 0.6 to 6 million Associated Carats] SOMILUANA Angola Diamonds Placer, Alluvial OM PL MOD 90 Mt @ 0.075 Ct/t in gravels TCHIEGI Angola Diamonds Alkalic Intrusive FS OP MOD [est 0.6 to 6 million Associated Carats] ORAPA DIAMOND Botswana Diamonds Alkalic Intrusive OM OP 1 GIA 1363 Mt @ 0.82 Ct/t CAMP Associated DAMTSHAA Botswana Diamonds Alkalic Intrusive OM OP 3 MAJ [est 6 to 36 million Associated Carats] GHAGHOO Botswana Diamonds Alkalic Intrusive OM UG 3 MAJ 108 Mt @ 0.189 Ct/t Associated KAROWE Botswana Diamonds Alkalic Intrusive OM OP 3 MAJ 87.4 Mt @ 0.15 Ct/t Associated LETLHAKANE Botswana Diamonds Alkalic Intrusive OM OP 3 MAJ 209 Mt @ 0.23 Ct/t Associated BK16 Botswana Diamonds Alkalic Intrusive AE OP MOD [est 0.6 to 6 million Associated Carats] KUKAMA Botswana Diamonds Alkalic Intrusive PFS OP MOD 24.7 Mt @ 0.35 Ct/t Associated LERALA Botswana Diamonds Alkalic Intrusive CM OP MOD 20.1 Mt @ 0.242 ct/t Associated JWANENG DIA CAMP Botswana Diamonds Alkalic Intrusive OM OP 1 SGIA 551 Mt @ 1.19 Ct/t Associated MOBILONG Cameroon Diamonds Placer, Alluvial SP AL MOD [est 0.6 to 6 million (CONGLOMERATE) Carats] MBUJI MAYI Congo (DRC) Diamonds Placer, Alluvial OM AL 2 GIA [est 36 to 360 million (ALLUVIAL) Carats] MBUJI MAYI Congo (DRC) Diamonds Alkalic Intrusive CMO OP 2 GIA [est 36 to 360 million (KIMBERLITE) Associated Carats] TSHIMANGA Congo (DRC) Diamonds Placer, Alluvial CMO AL 3 MAJ [est 6 to 36 million Carats] BADIBANGA Congo (DRC) Diamonds Placer, Alluvial SP AL MOD 6.8 Mt @ 0.50 Ct/t MAI MUNENE Congo (DRC) Diamonds Placer, Alluvial FS OP MOD 31.1 @ 0.20 Ct/t TSHIBWE Congo (DRC) Diamonds Alkalic Intrusive OM OP MOD [est 0.6 to 6 million Associated Carats] TSHIKAPA AREA Congo (DRC) Diamonds Placer, Alluvial AE PL MOD [est 0.6 to 6 million Carats] SEGUELA DISTRICT Cote d’Ivoire Diamonds Placer, Alluvial OM PL HR MOD [est 0.6 to 6 million (ARTISANAL) Carats] TORTYIA Cote d’Ivoire Diamonds Placer, Alluvial PP AL MOD [est 0.6 to 6 million Carats] BIRIM DIAMOND FIELD Ghana Diamonds Placer, Alluvial OM PL 2 GIA [est 36 to 360 million Carats] 272 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BONSA Ghana Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] AREDOR DISTRICT Guinea Diamonds Placer, Alluvial OM PL MOD [est 0.6 to 6 million Carats] BAOULE Guinea Diamonds Alkalic Intrusive OM OP MOD 22.2 Mt @ 0.15 Ct/t Associated BINKO-BANANKORO Guinea Diamonds Placer, Alluvial CMO PL MOD [est 0.6 to 6 million Carats] BOUNOUDOU Guinea Diamonds Placer, Alluvial CMO PL MOD [est 0.6 to 6 million Carats] BOURO (ALLUVIALS) Guinea Diamonds Placer, Alluvial CM PL MOD [est 0.6 to 6 million Carats] FENARIA (ALLUVIALS) Guinea Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] GBENKO Guinea Diamonds, Au Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] KOLOKORO Guinea Diamonds Placer, Alluvial CMO AL MOD [est 0.6 to 6 million Carats] MACENTA DISTRICT Guinea Diamonds Placer, Alluvial OM PL MOD [est 0.6 to 6 million Carats] KAO Lesotho Diamonds Alkalic Intrusive OM OP 3 MAJ 183 Mt @ 0.06 Ct/t Associated LETSENG Lesotho Diamonds Alkalic Intrusive OM OP 2 MAJ 294 Mt @ 0.02 Ct/t Associated LIQHOBONG Lesotho Diamonds Alkalic Intrusive OM OP 3 MAJ [est 6 to 36 million Associated Carats] MOTHAE Lesotho Diamonds Alkalic Intrusive OM OP MOD 39 Mt @ 0.03 Ct/t Associated MANO/LOFA R. AREA Liberia Diamonds Placer, Alluvial OM PL MOD [est 0.6 to 6 million Carats] MASSANGENA Mozambique Diamonds Placer, Alluvial AE OP MOD [est 0.6 to 6 million DISTRICT Carats] LUDERITZ AREA Namibia Diamonds Placer, Alluvial OM PL 1 GIA [est 36 to 360 million Carats] OFFSHORE DIAMONDS Namibia Diamonds Placer, Alluvial OM PL DR 1 GIA [est 36 to 360 million Carats] AUCHIAS MAJOR Namibia Diamonds Placer, Alluvial CMO AL MOD [est 0.6 to 6 million Carats] DABERAS Namibia Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] ML111 Namibia Diamonds Placer, Alluvial PFS PL DR MOD [est 0.6 to 6 million Carats] NAMIBIAN (OFFSHORE) Namibia Diamonds Placer, Alluvial OM PL DR MOD [est 0.6 to 6 million Carats] SENDELINGDRIF Namibia Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] CDM AREA Namibia Diamonds Placer, Alluvial OM PL 1 SGIA [est >360 million Carats] APPENDICES | 273 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KOIDU Sierra Leone Diamonds Alkalic Intrusive OM OP UG 3 MAJ [est 6 to 36 million Associated Carats] KONO DISTRICT Sierra Leone Diamonds Placer, Alluvial OM PL 3 MAJ [est 6 to 36 million Carats] TONGO (DYKE) Sierra Leone Diamonds Alkalic Intrusive DC UG 3 MAJ [est 6 to 36 million Associated Carats] NJEI BAFI Sierra Leone Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] TONGO (ALLUVIALS) Sierra Leone Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] CULLINAN South Africa Diamonds Alkalic Intrusive OM OP UG 1 GIA 294 Mt @ 0.33 Ct/t Associated FINSCH South Africa Diamonds Alkalic Intrusive OM OP UG 2 GIA [est 36 to 360 million Associated Carats] ALEXKOR South Africa Diamonds Placer, Alluvial OM DR 3 MAJ [est 6 to 36 million Carats] BAKEN MINE South Africa Diamonds Placer, Alluvial CM PL 3 MAJ 175 Mt @ 0.003 Ct/t in gravels BAKERVILLE RUN South Africa Diamonds Placer, Alluvial CMO PL 3 MAJ [5.45 million Carats] BULTFONTEIN MINE South Africa Diamonds Alkalic Intrusive CMO OP UG 2 MAJ [est 6 to 36 million Associated Carats] DE BEERS MINE South Africa Diamonds Alkalic Intrusive CMO OP UG 2 MAJ [36.8 million Carats] Associated DUTOITSPAN MINE South Africa Diamonds Alkalic Intrusive CMO OP UG 3 MAJ [21.7 million Carats] Associated KIMBERLEY MINE South Africa Diamonds Alkalic Intrusive CMO OP UG 2 MAJ [32.7 million Carats] Associated KOFFIEFONTEIN South Africa Diamonds Alkalic Intrusive OM OP UG 3 MAJ 137.4 Mt @ 0.038 Ct/t Associated WESSELTON MINE South Africa Diamonds Alkalic Intrusive CMO OP UG 3 MAJ [34.9 million Carats] Associated BELLSBANK FISSURES South Africa Diamonds Alkalic Intrusive CMO UG MOD [est 0.6 to 6 million Associated Carats] BUFFELS BANK South Africa Diamonds Placer, Alluvial CMO PL MOD [1.25 million Carats] GROEN RIVER VALLEY South Africa Diamonds Placer, Alluvial SP PL MOD 360 Mt @ 0.025 Ct/t HELAM South Africa Diamonds Alkalic Intrusive CM UG MOD 1.5 Mt @ 2.67 Ct/t Associated HONDELKLIP BAY South Africa Diamonds Placer, Alluvial CMO PL MOD [est 0.6 to 6 million Carats] KAMFERSDAM South Africa Diamonds Alkalic Intrusive AE OP MOD 9 Mt @ 0.14 Ct/t Associated KLEINZEE South Africa Diamonds Placer, Alluvial CMO AL MOD [est 0.6 to 6 million Carats] KLEINZEE ANNEX South Africa Diamonds Placer, Alluvial CMO AL MOD 52.2 mt @ 0.03 ct/t KOFFIEFONTEIN (OLD South Africa Diamonds Alkalic Intrusive CMO OP MOD [est 0.6 to 6 million WORKINGS) Associated Carats] 274 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KOINGNAAS South Africa Diamonds Placer, Alluvial OM AL MOD [est 0.6 to 6 million Carats] LACE PIPE South Africa Diamonds Alkalic Intrusive FS OP UG MOD 38.5 Mt @ 0.24 Ct/t Associated OTTO’S KOPJE South Africa Diamonds Alkalic Intrusive AE OP UG MOD [est 0.6 to 6 million Associated Carats] PALMIETGAT South Africa Diamonds Alkalic Intrusive CMO OP MOD 3.5 Mt @ 0.44 ct/t Associated REUNING MINE South Africa Diamonds Placer, Alluvial CM PL MOD [est 0.6 to 6 million Carats] SAXENDRIFT- South Africa Diamonds Placer, Alluvial AE AL MOD [0.14 million Carats] BRAKFONTEIN SCHUTSEKAMA South Africa Diamonds Placer, Alluvial CMO AL MOD [est 0.6 to 6 million Carats] SIMOLOTSE MINE South Africa Diamonds Alkalic Intrusive CM UG MOD 19.1 mt @0.17 Ct/t Associated STAR MINE South Africa Diamonds Alkalic Intrusive CM OP UG MOD [est 0.6 to 6 million Associated Carats] VOORSPOED South Africa Diamonds Alkalic Intrusive CMO OP 3 MOD 20.4 Mt @ 0.20 Ct/t Associated WELVEDIEND RUN South Africa Diamonds Placer, Alluvial CMO AL MOD [1.58 million Carats] VENETIA South Africa Diamonds Alkalic Intrusive OM OP UG 1 SGIA 303 Mt @ 0.87 Ct/t Associated MWADUI Tanzania Diamonds Alkalic Intrusive OM OP 2 GIA 1207 Mt @ 0.065 ct/t Associated MAGANZO Tanzania Diamonds Placer, Alluvial CMO PL MOD [est 0.6 to 6 million (ALLUVIALS) Carats] MARANGE (CAMP) Zimbabwe Diamonds Placer, Alluvial OM OP 1 GIA [est 36 to 360 million Carats] MUROWA Zimbabwe Diamonds Alkalic Intrusive OM OP 3 MAJ 12.3 Mt @ 0.67 Ct/t Associated RIVER RANCH Zimbabwe Diamonds Alkalic Intrusive CM OP 4 MAJ [est 6 to 36 million Associated Carats] UMKONDO BASIN Zimbabwe Diamonds Placer, Alluvial DC OP 3 MAJ [est 6 to 36 million Carats] CHIMANIMANI Zimbabwe Diamonds Placer, Alluvial AE PL MOD [est 0.6 to 6 million Carats] GEMSTONES Number of Significant Deposits = 10 ILAKAKA RIVER BASIN Madagascar Sapphire Placer, Alluvial OM AL MOD [est 1 to 10 million carats] MANANAJARY Madagascar Emerald Unknown OM OP UG MOD [est 2.5 to 25 million DISTRICT Carats] MONTEPUEZ Mozambique Ruby, Unknown OM OP 2 MAJ [467 million Carats] (PRIMARY) Corundum MONTEPUEZ Mozambique Ruby, Placer, Alluvial OM OP MOD [est 4 to 40 million (ALLUVIAL) Corundum carats] APPENDICES | 275 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource GRAVELOTTE South Africa Emerald Unknown PP OP 3 MAJ [est 25 to 150 million Carats] MERELANI Tanzania Tanzanite Unknown OM OP UG 3 MAJ [est 50 to 500 million (TANZANITE) carats] MOROGORO Tanzania Ruby Placer, Alluvial OM PL MOD [est 4 to 40 million carats] UMBA RIVER VALLEY Tanzania Ruby, Sapphire Placer, Alluvial OM OP UG MOD [est 4 to 40 million carats] KAGEM Zambia Emerald Unknown OM OP 2 GIA 1100 Mt @ 291 Ct/t SANDAWANA Zimbabwe Emerald Unknown OM OP UG 3 MAJ [est 25 to 150 million Carats] FLOURITE Number of Significant Deposits = 2 HAMMAM Morocco F, REE Vein UG MOD [2.05 million tonnes of Flurospar] VERGENOEG South Africa F, Fe Replacement/ OP 3 MAJ [est 10 to 50 million FLUORSPAR MINE Mantos tonnes of Flurospar] GOLD Number of Significant Deposits = 741 AMESMESSA Algeria Au, Ag Orogenic CM OP UG 3 MAJ 6.97 Mt @ 9.77g/t Au Mesothermal HANANE Algeria Au, W Volcanic UD OP UG MOD 0.45 Mt @ 17.68g/t Au Sediment Hosted IN-ABEGGUI Algeria Au Volcanic AE OP MOD 0.57 Mt @ 6.04g/t Au Sediment Hosted TAN CHAFFAO EAST Algeria Au, Cu Unknown AE OP MOD 6.6 Mt @ 1.62g/t Au + 0.55% Cu TIREK Algeria Au, Ag Orogenic CM OP MOD 0.96 Mt @ 20.78g/t Au Mesothermal TIRIRINE Algeria Au Volcanic UD UN MOD 0.45 Mt @ 17.68g/t Au Sediment Hosted MPOPO Angola Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] ATACORA MOUNTAINS Benin Au Placer, Alluvial OM PL HR MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] MUPANE Botswana Au, As Orogenic OM OP UG 3 MAJ 36.9 Mt @ 1.39g/t Au Mesothermal GOLDEN EAGLE Botswana Au Orogenic CMO OP MOD 1.97 Mt @ 2.02g/t Au Mesothermal JIM’S LUCK Botswana Au Orogenic OM OP MOD 3.86 Mt @ 1.13g/t Au Mesothermal MAP-NORA Botswana Au Orogenic UD UG MOD 0.46 Mt @ 14.47g/t Au Mesothermal MONARCH Botswana Au Orogenic CMO UG MOD 0.95 Mt @ 6.66g/t Au Mesothermal SIGNAL HILL Botswana Au Orogenic CMO OP UG MOD 1.49 Mt @ 2.15g/t Au Mesothermal ESSAKANE Burkina Faso Au Orogenic OM OP 2 GIA 261 Mt @ 1.2g/t Au Mesothermal 276 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource HOUNDE Burkina Faso Au Orogenic OM OP 2 GIA 113 Mt @ 1.75g/t Au Mesothermal KIAKA Burkina Faso Au Orogenic FS OP 3 GIA 285 Mt @ 0.86g/t Au Mesothermal BANTOU Burkina Faso Au Orogenic AE OP 3 MAJ 51.1 Mt @ 1.37g/t Au Mesothermal BATIE WEST Burkina Faso Au Orogenic PFS OP 3 MAJ 59.5 Mt @ 1.17g/t Au Mesothermal BISSA-ZANDKOM Burkina Faso Au Orogenic OM OP 2 MAJ 74.8 Mt @ 1.58g/t Au Mesothermal BOMBORE Burkina Faso Au Orogenic OM OP 3 MAJ 214 Mt @ 0.79g/t Au Mesothermal BOULY Burkina Faso Au, Cu Porphyry OM OP 3 MAJ 272 Mt @ 0.56g/t Au BOUNGOU Burkina Faso Au Orogenic OM OP 3 MAJ 15 Mt @ 4.18g/t Au Mesothermal GOLDEN HILL Burkina Faso Au Orogenic PFS OP 3 MAJ 24.1 Mt @ 1.83g/t Au Mesothermal INATA Burkina Faso Au Orogenic OM OP 3 MAJ 95.9 Mt @ 1.73g/t Au Mesothermal KARMA Burkina Faso Au Orogenic OM OP 3 MAJ 83 Mt @ 1.19g/t Au Mesothermal KONGOLOKORO Burkina Faso Au Orogenic AE OP 3 MAJ 34.3 Mt @ 1.7g/t Au Mesothermal KOURI Burkina Faso Au Orogenic SP OP 3 MAJ 50 Mt @ 1.24g/t Au Mesothermal MANA Burkina Faso Au Orogenic OM OP 2 MAJ 72 Mt @ 2.4g/t Au Mesothermal POURA Burkina Faso Au, Ag Orogenic CMO OP UG 3 MAJ 3.44 Mt @ 11.42g/t Au + Mesothermal 0.5g/t Ag SANBRADO Burkina Faso Au Orogenic OM OP 3 MAJ 103 Mt @ 1.84g/t Au Mesothermal SANUTURA Burkina Faso Au Orogenic AE OP UG 3 MAJ 62.1 Mt @ 1.46g/t Au Mesothermal TAPARKO Burkina Faso Au Orogenic OM OP 3 MAJ 29.3 Mt @ 2.35g/t Au Mesothermal TOEGA Burkina Faso Au Orogenic AE OP 3 MAJ 17.5 Mt @ 2g/t Au Mesothermal WAHGNION Burkina Faso Au Orogenic DC OP 3 MAJ 53.5 Mt @ 1.49g/t Au Mesothermal YARAMOKO Burkina Faso Au Orogenic OM UG 3 MAJ 4.52 Mt @ 8.17g/t Au Mesothermal YOUGA Burkina Faso Au Orogenic OM OP 3 MAJ 42.4 Mt @ 1.88g/t Au Mesothermal ALGA (ARTISANAL) Burkina Faso Au Orogenic CMO OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] ANKOUMA Burkina Faso Au Orogenic AE OP MOD 4.74 Mt @ 2.12g/t Au Mesothermal APPENDICES | 277 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource AOURA (ARTISANAL) Burkina Faso Au Orogenic OM OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BALOGO Burkina Faso Au, Cu Orogenic OM OP MOD 0.85 Mt @ 6.79g/t Au Mesothermal BISSA HILL Burkina Faso Au Orogenic OM OP MOD 1.44 Mt @ 3.39g/t Au Mesothermal BITOU Burkina Faso Au Orogenic AE OP MOD 4.2 Mt @ 1.9g/t Au Mesothermal BONDI Burkina Faso Au Orogenic AE OP MOD 6.6 Mt @ 2.04g/t Au Mesothermal BONGOU Burkina Faso Au Orogenic AE OP MOD 2.22 Mt @ 2.58g/t Au Mesothermal BOUDA (ARTISANAL) Burkina Faso Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BOUERE (ARTISANAL) Burkina Faso Au Orogenic CMO OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BOUROUM Burkina Faso Au Orogenic OM OP MOD 4.69 Mt @ 2.24g/t Au Mesothermal CASCADES Burkina Faso Au Orogenic AE OP MOD 12.3 Mt @ 1.6g/t Au Mesothermal FANDYORA Burkina Faso Au Orogenic SP OP MOD 15.1 Mt @ 1.23g/t Au Mesothermal GOSSEY Burkina Faso Au Orogenic AE OP MOD 13.4 Mt @ 0.87g/t Au Mesothermal GUIDO Burkina Faso Au, Zn, Pb Orogenic SP OP MOD 4.1 Mt @ 1.06g/t Au Mesothermal GUIRO-DIOUGA Burkina Faso Au Orogenic OM UG MOD 0.94 Mt @ 4.68g/t Au Mesothermal KALSAKA Burkina Faso Au Orogenic CMO OP MOD 8.12 Mt @ 1.43g/t Au Mesothermal KARANKASSO Burkina Faso Au Orogenic AE OP MOD 12.3 Mt @ 2.03g/t Au Mesothermal KARENTENGA Burkina Faso Au Orogenic OM OP UG MOD [est 0.1 to 1 million (ARTISANAL) Mesothermal onces of Gold] KERBOULE Burkina Faso Au Orogenic SP OP MOD 6.19 Mt @ 1.16g/t Au Mesothermal KYIN (ARTISANAL) Burkina Faso Au Orogenic CMO OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] LARAFELLA-BALAGO Burkina Faso Au Orogenic SP OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] NABANGA Burkina Faso Au Orogenic PFS OP MOD 3.4 Mt @ 7.69g/t Au Mesothermal NAGRIGRE Burkina Faso Au Orogenic CMO OP MOD [est 0.1 to 1 million (ARTISANAL) Mesothermal ounces of Gold] NAIRY Burkina Faso Au Orogenic AE OP MOD 3.15 Mt @ 1.13g/t Au Mesothermal NASSARA Burkina Faso Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] 278 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource OUAGA Burkina Faso Au, Cu Porphyry SP OP MOD 16 Mt @ 0.69g/t Au + 0.21% Cu OUAHIGOUYA Burkina Faso Au Orogenic SP OP MOD 19.4 Mt @ 1.12g/t Au Mesothermal RONGUEN Burkina Faso Au Orogenic FS OP MOD 9.38 Mt @ 1.27g/t Au Mesothermal SARTENGA Burkina Faso Au, Cu, Ag, Mo Porphyry SP OP MOD 70.3 Mt @ 0.29g/t Au + 0.25% Cu + 0.02% Mo + 1g/t Ag SIOU Burkina Faso Au Orogenic DC OP MOD 4.8 Mt @ 4.98g/t Au Mesothermal SOUMA Burkina Faso Au Orogenic AE OP MOD 10.7 Mt @ 1.64g/t Au Mesothermal TONIOR Burkina Faso Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] UNNAMED Burkina Faso Au Orogenic 0M OP UG MOD [est 0.1 to 1 million (ARTISANAL) Mesothermal ounces of Gold] WADARADOO Burkina Faso Au Orogenic OM OP MOD [est 0.1 to 1 million WORKINGS Mesothermal ounces of Gold] YABONSGO Burkina Faso Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] YAKO Burkina Faso Au Orogenic AE OP MOD 2.5 Mt @ 1.9g/t Au Mesothermal BUTHINDA Burundi Au Orogenic SP OP MOD 1.51 Mt @ 2.8g/t Au Mesothermal MABAYI DISTRICT Burundi Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] BATOURI (OLD Cameroon Au Placer, Alluvial CMO PL MOD [est 0.1 to 1 million WORKINGS) ounces of Gold] BATOURI DISTRICT Cameroon Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] BETARE (OLD Cameroon Au Placer, Alluvial CMO PL MOD [est 0.1 to 1 million WORKINGS) ounces of Gold] BETARE OYA DISTRICT Cameroon Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] BIBEMI Cameroon Au Orogenic AE OP MOD 5.1 Mt @ 2.29g/t Au Mesothermal COLOMINES DISTRICT Cameroon Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] PASSENDRO Central African Au Orogenic FS OP 3 MAJ 116 Mt @ 1.11g/t Au Republic Mesothermal POULOUBOU Central African Au Orogenic CMO PL HR MOD [est 0.1 to 1 million Republic Mesothermal ounces of Gold] BATHA Chad Au Unknown OM PL HR MOD [est 0.1 to 1 million ounces of Gold] DOROTHE (ARTISANAL) Chad Au Orogenic OM OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] APPENDICES | 279 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource GANBOKE Chad Au Orogenic UD OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KOURI BOUGOUDI Chad Au Unknown OM PL HR MOD [est 0.1 to 1 million DISTRICT ounces of Gold] MAYO N’DALA Chad Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million (ALLUVIAL) ounces of Gold] MISKI (ARTISANAL) Chad Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KIBALI Congo (DRC) Au Orogenic OM OP UG 2 GIA 270 Mt @ 3.33g/t Au Mesothermal MOTO Congo (DRC) Au Orogenic OM OP UG 1 GIA 199 Mt @ 3.04g/t Au Mesothermal GIRO Congo (DRC) Au Orogenic FS OP 3 MAJ 149 Mt @ 0.98g/t Au Mesothermal IMBO Congo (DRC) Au Orogenic PFS OP UG 3 MAJ 43 Mt @ 2.51g/t Au Mesothermal KAMITUGA Congo (DRC) Au Placer, Alluvial CMO PL HR 3 MAJ [est 1 to 6 million ounces of Gold] KING LEOPOLD MINE Congo (DRC) Au Orogenic PP UG 3 MAJ 1.53 Mt @ 30g/t Au Mesothermal LUGUSHWA Congo (DRC) Au Orogenic PFS OP 3 MAJ 88.1 Mt @ 1.5g/t Au Mesothermal MAKAPELA Congo (DRC) Au Orogenic AE UG 3 MAJ 5.43 Mt @ 6.67g/t Au Mesothermal MISISI Congo (DRC) Au Orogenic PFS OP 3 MAJ 40.8 Mt @ 2.37g/t Au Mesothermal MONGBWALU Congo (DRC) Au Orogenic FS OP UG 3 MAJ 15 Mt @ 6.64g/t Au Mesothermal NAMOYA Congo (DRC) Au Orogenic OM OP UG 3 MAJ 33.6 Mt @ 2.02g/t Au Mesothermal SOMITURI Congo (DRC) Au Orogenic AE OP UG 3 MAJ 20.8 Mt @ 2.51g/t Au Mesothermal TWANGIZA Congo (DRC) Au Orogenic OM OP 3 MAJ 114 Mt @ 1.5g/t Au Mesothermal ZANI-KODO Congo (DRC) Au Orogenic AE OP UG 3 MAJ 23.3 Mt @ 2.68g/t Au Mesothermal ADUMBI (OLD) Congo (DRC) Au Orogenic CMO OP UG MOD 0.61 Mt @ 9.11g/t Au Mesothermal BIVUYE Congo (DRC) Au Placer, Alluvial OM PL MOD [est 0.1 to 1 million ounces of Gold] DOUZE MATCH Congo (DRC) Au Orogenic SP OP MOD 8.1 Mt @ 1.23g/t Au Mesothermal G7 MAPALE Congo (DRC) Au Orogenic AE OP UG MOD 8.1 Mt @ 1.23g/t Au Mesothermal KABOTSHOME Congo (DRC) Au Orogenic AE OP MOD 6.97 Mt @ 1.88g/t Au Mesothermal KACHANGA Congo (DRC) Au Unknown OM OP UG MOD [est 0.1 to 1 million ounces of Gold] 280 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LUGUSHWA (OLD Congo (DRC) Au Placer, Alluvial CMO PL HR MOD [est 0.1 to 1 million WORKINGS) ounces of Gold] M’BORO MINE Congo (DRC) Au Orogenic CMO OP MOD 0.47 Mt @ 9.1g/t Au Mesothermal MISISI (ARTISANAL) Congo (DRC) Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] MOTO CAMP Congo (DRC) Au Placer, Alluvial OM PL HR MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] MPOKOTO Congo (DRC) Au Orogenic PFS OP MOD 14.6 Mt @ 1.45g/t Au Mesothermal NGAYU (OLD) Congo (DRC) Au Orogenic CMO UG MOD 7 Mt @ 2.3g/t Au Mesothermal NIXI ALLUVIALS Congo (DRC) Au Placer, Alluvial OM PL MOD [est 0.1 to 1 million ounces of Gold] TENDAO WORKINGS Congo (DRC) Au Orogenic CMO OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] TWANGIZA Congo (DRC) Au Placer, Alluvial CMO PL HR MOD [est 0.1 to 1 million (ALLUVIALS) ounces of Gold] TWANGIZA (OLD) Congo (DRC) Au Orogenic CMO OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] UNNAMED DEPOSIT Congo (DRC) Au Placer, Alluvial OM PL HR MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] YINDI Congo (DRC) Au Orogenic AE OP MOD 7 Mt @ 2.3g/t Au Mesothermal ITY Cote d’Ivoire Au Orogenic OM OP 2 GIA 147 Mt @ 1.74g/t Au Mesothermal ABC Cote d’Ivoire Au Orogenic AE OP 3 MAJ 35.7 Mt @ 0.96g/t Au Mesothermal ABUJAR Cote d’Ivoire Au Orogenic AE OP 3 MAJ 124 Mt @ 0.96g/t Au Mesothermal AFEMA Cote d’Ivoire Au Orogenic AE OP UG 3 MAJ 53.8 Mt @ 1.43g/t Au Mesothermal AGBAOU Cote d’Ivoire Au Orogenic OM OP 3 MAJ 39.8 Mt @ 1.83g/t Au Mesothermal ASSAFOU Cote d’Ivoire Au Orogenic AE OP 2 MAJ 73.8 Mt @ 1.97g/t Au Mesothermal BONIKRO Cote d’Ivoire Au, Ag Orogenic OM OP 3 MAJ 85.9 Mt @ 1.42g/t Au Mesothermal CHARGER Cote d’Ivoire Au Breccia Pipe AE OP UG 3 MAJ [est 1 to 6 million ounces of Gold] DOROPO Cote d’Ivoire Au Orogenic PFS OP 3 MAJ 84.3 Mt @ 1.25g/t Au Mesothermal FETEKRO Cote d’Ivoire Au Orogenic DC OP 3 MAJ 47.8 Mt @ 2.04g/t Au (ENDEAVOUR) Mesothermal KONE Cote d’Ivoire Au Orogenic FS OP 3 MAJ 265 Mt @ 0.62g/t Au Mesothermal SEGUELA Cote d’Ivoire Au Orogenic DC OP 3 MAJ 20.3 Mt @ 2.86g/t Au Mesothermal APPENDICES | 281 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TANDE-IGUELA Cote d’Ivoire Au Orogenic AE OP 3 MAJ 47.8 Mt @ 1.96g/t Au Mesothermal TONGON Cote d’Ivoire Au Orogenic OM OP 2 MAJ 68 Mt @ 2.27g/t Au Mesothermal YAOURE Cote d’Ivoire Au Orogenic OM OP 2 MAJ 75.3 Mt @ 1.73g/t Au Mesothermal ABUJAR (ARTISANAL) Cote d’Ivoire Au Orogenic AE OP 3 MOD [est 0.1 to 1 million Mesothermal ounces of Gold] AGBALE Cote d’Ivoire Au Orogenic AE OP MOD 1.32 Mt @ 2.7g/t Au Mesothermal AKISSI SO Cote d’Ivoire Au Orogenic AE OP MOD 3.76 Mt @ 3.36g/t Au Mesothermal ANGOVIA Cote d’Ivoire Au Orogenic CMO OP MOD 3.72 Mt @ 2.33g/t Au Mesothermal BAGOE Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BOUNDIALI Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] CHAPPELLE Cote d’Ivoire Au Orogenic AE OP MOD 3.64 Mt @ 2.2g/t Au Mesothermal DIDIEVI Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] DOUGBALFA EAST Cote d’Ivoire Au Orogenic AE OP MOD 5.56 Mt @ 1.3g/t Au Mesothermal EMPIRE Cote d’Ivoire Au Orogenic AE OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] FERKESSEDOUGOU Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] FETEKRO (LA Cote d’Ivoire Au Orogenic AE OP MOD 4.56 Mt @ 2.91g/t Au MANCHA) Mesothermal HIRE Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KOSSOU Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] LA DEBO Cote d’Ivoire Au Orogenic AE OP MOD 9.5 Mt @ 1.3g/t Au Mesothermal NAPIE Cote d’Ivoire Au Orogenic AE OP UG MOD 22.4 Mt @ 1.21g/t Au Mesothermal SANI Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] SISSEDOUGOU Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] SISSINGUE Cote d’Ivoire Au Orogenic OM OP MOD 16.9 Mt @ 1.46g/t Au Mesothermal TIASSO Cote d’Ivoire Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] SUKARI Egypt Au Intrusion Related OM OP 2 GIA 468 Mt @ 1.16g/t Au Gold System 282 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ABU MARAWAT Egypt Au, Ag, Cu, Zn VHMS AE OP UG MOD 2.88 Mt @ 1.75g/t Au + 29.3 g/t Ag + 1.15% Zn ATALLAH (ANCIENT) Egypt Au Intrusion Related PP UG MOD [est 0.1 to 1 million Gold System ounces of Gold] BARRAMIYA (OLD) Egypt Au Orogenic CMO OP UG MOD 0.3 Mt @ 22.5g/t Au Mesothermal EL DABBAH Egypt Au Orogenic UD OP MOD 6 Mt @ 1.5g/t Au Mesothermal EL SID (NEW) Egypt Au Intrusion Related SP OP MOD [est 0.1 to 1 million Gold System ounces of Gold] EL SID (OLD) Egypt Au Intrusion Related CMO UG MOD 0.12 Mt @ 27.9g/t Au Gold System HAMAMA Egypt Au, Ag VHMS AE OP MOD 12 Mt @ 0.82g/t Au + 29.03g/t Ag HODINE Egypt Au Orogenic AE OP UG MOD 5.9 Mt @ 1.1g/t Au Mesothermal SUKARI (OLD) Egypt Au Porphyry PP UG MOD 0.26 Mt @ 19.57g/t Au ANAGULU Eritrea Au, Cu Porphyry AE OP 3 MAJ [est 0.1 to 1 million ounces of Gold] ABURNA Eritrea Au Orogenic PP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] GUPO Eritrea Au Orogenic AE OP MOD 2.76 Mt @ 1.72g/t Au Mesothermal KOKA Eritrea Au Intrusion Related FS OP 3 MOD 5 Mt @ 5.23g/t Au Gold System YACOB DEWAR Eritrea Au, Cu VHMS AE OP MOD 6.19 Mt @ 0.42g/t Au + 0.35% Cu BLACKROCK Ethiopia Au Orogenic AE OP 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] DAWA OKOKE Ethiopia Au Orogenic UD OP 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] JILAYE Ethiopia Au Orogenic SP OP 4 MAJ [est 1 to 6 million Mesothermal ounces of Gold] KURMUK Ethiopia Au Orogenic FS OP 3 MAJ 63.9 Mt @ 1.67g/t Au Mesothermal LEGA DEMBI Ethiopia Au, Ag Orogenic OM OP UG 2 MAJ 29.3 Mt @ 4.76g/t Au Mesothermal TULU KAPI Ethiopia Au, Ag Orogenic DC OP UG 3 MAJ 20.2 Mt @ 2.65g/t Au + Mesothermal 1.62g/t Ag ADOLA GOLDFIELD Ethiopia Au Orogenic CMO UG MOD [est 0.1 to 1 million (HARD ROCK) Mesothermal ounces of Gold] ADOLA VALLEY Ethiopia Au, Ag Placer, Alluvial CMO PL MOD [est 0.1 to 1 million PLACERS ounces of Gold] ADYABO Ethiopia Au, Ag, Cu VHMS DC OP UG MOD 4 Mt @ 3g/t Au BORE Ethiopia Au, Ag Placer, Alluvial CMO AL MOD [est 0.1 to 1 million ounces of Gold] APPENDICES | 283 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LEGA ADUNIA Ethiopia Au, Ag Placer, Alluvial CMO AL MOD [est 0.1 to 1 million ounces of Gold] LEGA EMYO Ethiopia Au, Ag Placer, Alluvial CMO AL MOD [est 0.1 to 1 million ounces of Gold] MEGADO - SMALL Ethiopia Au, Ag Orogenic UD OP MOD [est 0.1 to 1 million GAGAMA Mesothermal ounces of Gold] MORMORA Ethiopia Au, Ag Placer, Alluvial CMO AL MOD [est 0.1 to 1 million ounces of Gold] SAKARO Ethiopia Au Orogenic OM UG MOD 1.73 Mt @ 10.42g/t Au Mesothermal SAKARO Ethiopia Au, Ag Orogenic UD OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] SMALLER Ethiopia Au, Ag Placer, Alluvial CMO AL MOD [est 0.1 to 1 million ounces of Gold] TOWCHESTER Ethiopia Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] WERRI Ethiopia Au, Ag Orogenic UD OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BAKOUDOU Gabon Au Orogenic CMO OP MOD 1.56 Mt @ 4g/t Au Mesothermal ETEKE Gabon Au Orogenic FS OP UG MOD 11.2 Mt @ 2.45g/t Au Mesothermal ETEKE (ALLUVIALS) Gabon Au Placer, Alluvial CMO PL MOD [est 0.1 to 1 million ounces of Gold] LONGO (ARTISANAL) Gabon Au Placer, Alluvial OM OP MOD [est 0.1 to 1 million ounces of Gold] MINKEBE (ARTISANAL) Gabon Au Placer, Alluvial CMO OP MOD [est 0.1 to 1 million ounces of Gold] NDANGUI (ARTISANAL) Gabon Au Placer, Alluvial OM OP MOD [est 0.1 to 1 million ounces of Gold] AHAFO Ghana Au Orogenic OM OP 1 GIA 280 Mt @ 2.21g/t Au Mesothermal AKYEM Ghana Au Orogenic OM OP 2 GIA 123 Mt @ 1.91g/t Au Mesothermal BIBIANI Ghana Au Orogenic OM OP UG 2 GIA 86.7 Mt @ 3.07g/t Au Mesothermal BOGOSO-PRESTEA Ghana Au, Ag Orogenic OM OP UG 1 GIA 120 Mt @ 4.67g/t Au Mesothermal DAMANG Ghana Au Orogenic OM OP 2 GIA 180 Mt @ 1.8g/t Au Mesothermal IDUAPRIEM Ghana Au Orogenic OM OP 2 GIA 254 Mt @ 1.47g/t Au Mesothermal NAMDINI Ghana Au Orogenic PFS OP 3 GIA 194 Mt @ 1.12g/t Au Mesothermal TARKWA Ghana Au Placer OM OP UG 1 GIA 650 Mt @ 1.32g/t Au (Q-pebble), Alluvial 284 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource WASSA Ghana Au Orogenic OM OP UG 3 GIA 150 Mt @ 2.77g/t Au Mesothermal ABOSSO Ghana Au Placer, Alluvial CMO UG 2 MAJ 8.7 Mt @ 10g/t Au ADIEMBRA Ghana Au Orogenic AE OP 3 MAJ 21 Mt @ 2.68g/t Au Mesothermal AHAFO NORTH Ghana Au Orogenic DC OP 2 MAJ 77.4 Mt @ 2.17g/t Au Mesothermal APENSU DEEPS Ghana Au Orogenic AE UG 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] APENSU NORTH Ghana Au Orogenic AE UG 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] CHIRANO Ghana Au Orogenic OM OP UG 2 MAJ 115 Mt @ 1.93g/t Au Mesothermal EDIKAN Ghana Au Orogenic OM OP 3 MAJ 152 Mt @ 1.08g/t Au Mesothermal ENCHI Ghana Au Orogenic PFS OP 3 MAJ 88.3 Mt @ 0.6g/t Au Mesothermal ESAASE Ghana Au Orogenic DC OP 3 MAJ 128 Mt @ 1.43g/t Au Mesothermal JAPA Ghana Au Orogenic AE OP 3 MAJ 23.8 Mt @ 2.63g/t Au Mesothermal KONONGO Ghana Au Orogenic PFS OP UG 3 MAJ 13.6 Mt @ 6.27g/t Au Mesothermal NOYEM-NYANFOMAN Ghana Au Orogenic PP OP UG 3 MAJ 5.2 Mt @ 6.67g/t Au Mesothermal NZEMA Ghana Au Orogenic OM OP 3 MAJ 49.8 Mt @ 1.48g/t Au Mesothermal OBOTAN Ghana Au Orogenic OM OP UG 3 MAJ 155 Mt @ 1.44g/t Au Mesothermal WA LAWRA Ghana Au Orogenic FS OP UG 3 MAJ 29.5 Mt @ 1.56g/t Au Mesothermal ABROBUASEN Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million (ALLUVIALS) ounces of Gold] ADANSI-ASAASI Ghana Au Orogenic AE OP UG MOD 6.65 Mt @ 1.1g/t Au Mesothermal ADOWSENA Ghana Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] AFIAFISO (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] AKOASE Ghana Au Orogenic SP OP MOD 20.6 Mt @ 1.2g/t Au Mesothermal AKROKERRI Ghana Au Orogenic AE OP MOD 2.56 Mt @ 1.5g/t Au Mesothermal ANUMSO Ghana Au Orogenic AE OP MOD 2.55 Mt @ 2.04g/t Au Mesothermal ANWIA-BOKAZO Ghana Au Orogenic OM OP MOD 8.7 Mt @ 2.22g/t Au Mesothermal APPENDICES | 285 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ASHEBA Ghana Au Orogenic AE OP MOD 3.04 Mt @ 1.8g/t Au Mesothermal BAJU Ghana Au Orogenic SP OP MOD 1.1 Mt @ 3.95g/t Au Mesothermal BENSO Ghana Au Orogenic AE OP MOD 5.26 Mt @ 2.88g/t Au Mesothermal BEPOSO Ghana Au Orogenic SP OP MOD 4.17 Mt @ 1.71g/t Au Mesothermal BIBIANI (OLD) Ghana Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BIUNG Ghana Au Orogenic OM UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BOKROBO Ghana Au Orogenic AE OP UG MOD 2.37 Mt @ 2.38g/t Au Mesothermal BUI Ghana Au Placer SP OP MOD 1.33 Mt @ 3.31g/t Au (Q-pebble), Alluvial DADIESO Ghana Au Orogenic SP OP MOD 3.2 Mt @ 1.58g/t Au Mesothermal DOKRUPE Ghana Au Orogenic SP OP MOD 1.75 Mt @ 2.58g/t Au Mesothermal DYNAMITE HILL Ghana Au Orogenic AE OP MOD 2.36 Mt @ 1.78g/t Au Mesothermal GRUMESA-AWISAM Ghana Au Orogenic SP OP MOD 41.5 Mt @ 0.56g/t Au Mesothermal HOMASE Ghana Au Orogenic AE OP MOD 10.6 Mt @ 1.77g/t Au Mesothermal HWINI-BUTRE Ghana Au Orogenic CMO OP MOD 4.16 Mt @ 4.35g/t Au Mesothermal JEDUA DISTRICT Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million (ALLUVIALS) ounces of Gold] JENI (ALLUVIALS) Ghana Au Placer, Alluvial CMO PL MOD [est 0.1 to 1 million ounces of Gold] JENI RIVER (OLD Ghana Au Placer, Alluvial PP PL MOD [est 0.1 to 1 million WORKINGS) ounces of Gold] KIBI Ghana Au Orogenic AE OP UG MOD 5.73 Mt @ 2.31g/t Au Mesothermal KIBI (ALLUVIALS) Ghana Au Placer, Alluvial CMO PL MOD [est 0.1 to 1 million ounces of Gold] KUBI Ghana Au Orogenic PP OP UG MOD 2.49 Mt @ 5.14g/t Au Mesothermal MAMPON (GOLDEN Ghana Au Orogenic UD OP MOD 3.23 Mt @ 5.59g/t Au STAR) Mesothermal MANFO Ghana Au Orogenic AE OP MOD 13.6 Mt @ 1.13g/t Au Mesothermal NANGODI Ghana Au Orogenic AE OP MOD 7.29 Mt @ 0.93g/t Au Mesothermal 286 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource PAMPE Ghana Au Orogenic AE OP MOD 2.06 Mt @ 3.31g/t Au Mesothermal SIAN Ghana Au Orogenic AE OP MOD 5.5 Mt @ 2.34g/t Au Mesothermal TARKWA (OLD Ghana Au Placer PP OP UG MOD [est 0.1 to 1 million WORKINGS) (Q-pebble), ounces of Gold] Alluvial TINGA Ghana Au Orogenic SP OP MOD 2.06 Mt @ 3.51g/t Au Mesothermal UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 1 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 2 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 3 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 4 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 5 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 6 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 7 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 8 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 9 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 10 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 11 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 12 ounces of Gold] UNNAMED (ALLUVIALS) Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million 13 ounces of Gold] YAW HENEKROM Ghana Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million (ALLUVIALS) ounces of Gold] OBUASI Ghana Au Orogenic CM OP UG 1 SGIA 305 Mt @ 7.03g/t Au Mesothermal DINGUIRAYE (LEFA) Guinea Au Orogenic OM OP 2 GIA 186 Mt @ 1.25g/t Au Mesothermal SIGUIRI Guinea Au Orogenic OM OP 2 GIA 615 Mt @ 1.12g/t Au (AngloGoldAshanti) Mesothermal BALANDOUGOUBA Guinea Au Intrusion Related SP OP 4 MAJ 39.8 Mt @ 0.94g/t Au Gold System BANKAN Guinea Au Orogenic PFS OP UG 2 MAJ 101 Mt @ 1.66g/t Au Mesothermal APPENDICES | 287 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource GUILENGBE Guinea Au Orogenic AE OP 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] KINIERO Guinea Au Orogenic FS OP UG 3 MAJ 93.7 Mt @ 1.19g/t Au Mesothermal KOULEKOUN Guinea Au Porphyry FS OP 3 MAJ 29.1 Mt @ 1.5g/t Au KOUNKOUN Guinea Au Orogenic AE OP 3 MAJ 12 Mt @ 2.6g/t Au Mesothermal KOUROUSSA Guinea Au Orogenic PFS OP 3 MAJ 11.9 Mt @ 3.08g/t Au Mesothermal MANSOUNIA Guinea Au Orogenic PFS OP 3 MAJ 52 Mt @ 0.77g/t Au Mesothermal SARAYA Guinea Au Orogenic AE OP 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] SIGUIRI PROJECT Guinea Au Laterite AE OP 3 MAJ 126 Mt @ 0.58g/t Au (Bullman) Associated DIDI (ARISANAL) Guinea Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] KADA Guinea Au Orogenic AE OP MOD 30.3 Mt @ 0.95g/t Au Mesothermal KARITA Guinea Au Orogenic AE OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] MANDIANA-MAGANA Guinea Au Orogenic AE OP MOD 16.1 Mt @ 1.18g/t Au Mesothermal ISULU Kenya Au Orogenic PFS UG 3 MAJ 2.53 Mt @ 13.05g/t Au Mesothermal KAKAMEGA Kenya Au, Cu, Zn, Ag VHMS PFS OP 3 MAJ 12.32 Mt @ 4.58g/t Au + 0.24% Cu + 0.54% Zn + 6g/t Ag MIGORI Kenya Au Orogenic SP OP 3 MAJ 30.6 Mt @ 1.28g/t Au + Mesothermal 1.41g/t Ag ASEMBO BAY Kenya Au Orogenic UD OP MOD 12.5 Mt @ 1.75g/t Au Mesothermal BUSHIANGALA Kenya Au Orogenic AE UG MOD 0.38 Mt @ 9.92g/t Au Mesothermal KILIMAPESA Kenya Au Orogenic CM UG MOD 8.71 Mt @ 2.4g/t Au Mesothermal KKM ZONE Kenya Au Orogenic PP UG MOD 21.9 Mt @ 1.01g/t Au Mesothermal MK Kenya Au Orogenic AE OP MOD 1.35 Mt @ 3.07g/t Au Mesothermal NYANZA Kenya Au Orogenic PP PL HR MOD [est 0.1 to 1 million Mesothermal ounces of Gold] NYANZA Kenya Au Orogenic AE UG MOD 2.64 Mt @ 3.54g/t Au Mesothermal RED RAY Kenya Au Orogenic AE OP MOD 1.91 Mt @ 2.28g/t Au Mesothermal ROSTERMAN Kenya Au Orogenic CMO UG MOD 0.66 Mt @ 13g/t Au Mesothermal 288 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BEA MOUNTAIN Liberia Au Orogenic OM OP 3 MAJ 20.1 Mt @ 2.99g/t Au Mesothermal DUGBE 1 Liberia Au Orogenic FS OP 3 MAJ 95 Mt @ 1.38g/t Au Mesothermal KOKOYA Liberia Au Orogenic OM OP MOD 4.9 Mt @ 2.6g/t Au Mesothermal KORNINGA Liberia Au Placer, Alluvial OM OP MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] NDABLAMA Liberia Au Orogenic AE OP MOD 10 Mt @ 1.87g/t Au Mesothermal NDABLAMA Liberia Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] WEAJU Liberia Au Orogenic AE OP MOD 2.7 Mt @ 2.05g/t Au Mesothermal ANDRAMASINA Madagascar Au Placer, Alluvial CMO PL HR MOD [est 0.1 to 1 million REGION ounces of Gold] BETSIAKA- Madagascar Au, Ag Placer, Alluvial CMO OP UG MOD [est 0.1 to 1 million ANDAVAKOERA ounces of Gold] DISTRICT DABOLAVA Madagascar Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] MANANJARY Madagascar Au Placer, Alluvial PP AL MOD [est 0.1 to 1 million GOLDFIELD (ALLUVIAL) ounces of Gold] MAROVATO Madagascar Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] FEKOLA Mali Au Orogenic OM OP 2 GIA 268 Mt @ 1.48g/t Au Mesothermal GOUNKOTO Mali Au Orogenic OM OP 2 GIA 46.4 Mt @ 4.08g/t Au Mesothermal LOULO PROJECT Mali Au Orogenic OM OP 1 GIA 89.2 Mt @ 4.66g/t Au Mesothermal MORILA Mali Au Orogenic OM OP 1 GIA 73.6 Mt @ 2.75g/t Au Mesothermal SADIOLA Mali Au Orogenic OM OP 1 GIA 368 Mt @ 1.78g/t Au Mesothermal SYAMA Mali Au Orogenic OM OP UG 2 GIA 215 Mt @ 2.63g/t Au Mesothermal DIANGOUNTE Mali Au Placer, Alluvial SP OP 3 MAJ 18.4 Mt @ 1.84g/t Au IN DARSET Mali Au, Ag, Cu Unknown UD OP 4 MAJ 18.8 Mt @ 4.16g/t Au + 0.17% Cu + 13.77g/t Ag KALANA (NEW) Mali Au, Ag, Pt Orogenic FS OP 3 MAJ 36 Mt @ 2.65g/t Au Mesothermal KALANA MINE Mali Au, Ag, Pt Orogenic OM UG 3 MAJ 36.8 Mt @ 2.84g/t Au Mesothermal KENIEBA DISTRICT Mali Au Placer, Alluvial PP OP 3 MAJ [est 1 to 6 million (ANCIENT) ounces of Gold] KOBADA Mali Au Orogenic FS OP 3 MAJ 87 Mt @ 0.86g/t Au Mesothermal APPENDICES | 289 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KOFI Mali Au Orogenic AE OP 3 MAJ 18.6 Mt @ 1.97g/t Au Mesothermal KOUROUFING Mali Au Orogenic AE OP 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] NEFOLO Mali Au Orogenic AE UG 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] SIRIBAYA Mali Au Orogenic AE OP 3 MAJ 41.2 Mt @ 1.45g/t Au Mesothermal TABAKORONI Mali Au Orogenic OM OP 3 MAJ 16.7 Mt @ 3.72g/t Au Mesothermal TABAKOTO CAMP Mali Au Orogenic OM OP UG 3 MAJ 38.2 Mt @ 3.18g/t Au Mesothermal WASSOUL-OR Mali Au Orogenic OM OP 3 MAJ 34 Mt @ 1.79g/t Au Mesothermal YANFOLILA Mali Au Orogenic OM OP 3 MAJ 21.3 Mt @ 2.5g/t Au Mesothermal YATELA Mali Au Orogenic CMO OP 2 MAJ 37.6 Mt @ 2.45g/t Au Mesothermal BAKOLOBI Mali Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BANANKORO Mali Au Orogenic AE OP MOD 2.39 Mt @ 10g/t Au Mesothermal BANANKORO Mali Au Orogenic OM OP MOD [est 0.1 to 1 million (ARTISANAL) Mesothermal ounces of Gold] DABIA SOUTH Mali Au Orogenic AE OP MOD 4.13 Mt @ 1.05g/t Au Mesothermal DANDOKO Mali Au Orogenic AE OP MOD 9.49 Mt @ 1.39g/t Au Mesothermal DAR SALAM Mali Au Orogenic DC UG MOD 1.17 Mt @ 2.97g/t Au Mesothermal DIAMBA SOUTH Mali Au Orogenic PFS OP MOD 14.7 Mt @ 1.81g/t Au Mesothermal DIBA-BADIAZILA Mali Au Orogenic AE OP MOD 7.07 Mt @ 1.35g/t Au Mesothermal FARABAKOURA Mali Au Orogenic AE OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] FATOU Mali Au Orogenic AE OP MOD 29.2 Mt @ 0.65g/t Au Mesothermal GOURBASSI Mali Au Orogenic PFS OP MOD 6.72 Mt @ 1.14g/t Au Mesothermal KALANA (OLD) Mali Au, Ag, Pt Orogenic OM UG MOD 0.83 Mt @ 11.54g/t Au Mesothermal KALANA 1 NORTH Mali Au, Ag, Pt Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KALANA 1 SOUTH Mali Au, Ag, Pt Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KALANAKO Mali Au Orogenic AE OP MOD 1.11 Mt @ 3.34g/t Au Mesothermal 290 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KANDIOLE Mali Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KENIEBA Mali Au Orogenic AE OP MOD 2.57 Mt @ 3.92g/t Au Mesothermal KODIERAN Mali Au, As Porphyry FS OP MOD 16.7 Mt @ 1.64g/t Au MAGOYAFARA SOUTH Mali Au Orogenic AE OP MOD 3.46 Mt @ 1.48g/t Au Mesothermal MASSIGUI Mali Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] MEDINANDI Mali Au Orogenic AE OP MOD 14.7 Mt @ 1.76g/t Au Mesothermal NAMPALA Mali Au Orogenic OM OP MOD 21.7 Mt @ 0.83g/t Au Mesothermal NIAOULENI Mali Au Orogenic AE OP MOD 24.8 Mt @ 0.81g/t Au Mesothermal SANANKORO Mali Au Orogenic PFS OP MOD 24.9 Mt @ 1.15g/t Au Mesothermal SÉGALA Mali Au Orogenic OM OP UG MOD 6.38 Mt @ 4.4g/t Au Mesothermal SEPOLA Mali Au Orogenic SP OP MOD 3.8 Mt @ 1.5g/t Au Mesothermal TABAKAROLE Mali Au Orogenic AE OP MOD 18.4 Mt @ 1g/t Au Mesothermal TABAKORONI DISTRICT Mali Au Placer, Alluvial PP OP MOD [est 0.1 to 1 million (ANCIENT) ounces of Gold] TAGAN Mali Au Orogenic AE OP MOD 9.1 Mt @ 2.54g/t Au Mesothermal TEKELEDOUGOU Mali Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] TASIAST (excl Mauritania Au Orogenic OM OP 2 GIA 117 Mt @ 1.8g/t Au EXTENSION) Mesothermal TASIAST EXTENSION Mauritania Au Orogenic FS OP 3 MAJ 173 Mt @ 1.24g/t Au Mesothermal TIJIRIT Mauritania Au Orogenic PFS OP MOD 13.7 Mt @ 1.86g/t Au Mesothermal, BIF BOUMADINE Morocco Au, Ag, Zn, Epithermal, Low PFS UG 3 MAJ 9.73 Mt @ 2.95g/t Au + Pb, Ge Sulphidation 110 g/t Ag + 2.92% Zn AMIZMIZ Morocco Au, Cu, Mo Unknown PFS UG MOD 2.22 Mt @ 4.78g/t Au + 0.54% Cu + 0.17% Mo AZOUGAR N’TILILI Morocco Au, Zn, Pb, Hydrothermal AE OP MOD 1 Mt @ 2.4g/t Au + Ag, Cu Vein 10 g/t Ag + 3.6% Zn + 2.2% Pb TAFRENT Morocco Au Unknown AE OP MOD 6.1 Mt @ 1.18g/t Au differentiated Hydrothermal TAMLALT Morocco Au Orogenic AE OP UG MOD 1.7 Mt @ 4.21g/t Au Mesothermal APPENDICES | 291 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TICHKA EST Morocco Au Vein Hosted AE OP MOD [est 0.1 to 1 million ounces of Gold] TIOUIT Morocco Au, Ag, Cu Hydrothermal AE UG MOD 1.06 Mt @ 8g/t Au + Vein 0.4% Cu + 65g/t Ag MANICA (HARD ROCK) Mozambique Au Orogenic DC OP 3 MAJ 22 Mt @ 1.94g/t Au Mesothermal ANDRADA (NEW Mozambique Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ALLUVIAL) ounces of Gold] ANDRADA (OLD Mozambique Au Placer, Alluvial CMO DR MOD 38.1 Mt @ 0.12g/t Au ALLUVIAL) MANICA (ALLUVIAL) Mozambique Au Placer, Alluvial OM AL MOD [est 0.1 to 1 million ounces of Gold] NIASSA GOLD BELT Mozambique Au Orogenic OM PL HR MOD [est 0.1 to 1 million Mesothermal ounces of Gold] DAMARA Namibia Au Sed Hosted DC OP 3 MAJ 91.3 Mt @ 1.09g/t Au Disseminated Gold DAMARAN Namibia Au Unknown AE OP 3 MAJ 66 Mt @ 1g/t Au NAVACHAB Namibia Au, Ag, Bi Sed Hosted OM OP 3 MAJ 132 Mt @ 1.29g/t Au Disseminated Gold OTJIKOTO Namibia Au Orogenic OM OP 3 MAJ 74.9 Mt @ 1.2g/t Au Mesothermal GOLDEN VALLEY Namibia Au Unknown OM UG MOD 5.43 Mt @ 4.04g/t Au ONDUNDO Namibia Au Orogenic AE OP MOD 26 Mt @ 1.08g/t Au Mesothermal OTJIMBOJO Namibia Au Unknown AE OP MOD [est 0.1 to 1 million ounces of Gold] KOMA BANGOU Niger Au Orogenic SP OP 4 MAJ 22.3 Mt @ 1.95g/t Au Mesothermal SAMIRA Niger Au Orogenic CM OP 3 MAJ 45.5 Mt @ 1.95g/t Au Mesothermal BELLA TONDI Niger Au Orogenic AE UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BELLA TONDI Niger Au Orogenic PP OP MOD [est 0.1 to 1 million (ARTISANAL) Mesothermal ounces of Gold] BOROBON Niger Au Orogenic AE OP MOD 2.75 Mt @ 1.27g/t Au Mesothermal DJADO (ARTISANAL) Niger Au Unknown OM PL HR MOD [est 0.1 to 1 million ounces of Gold] KOMA BANGOU Niger Au Orogenic CMO OP MOD [est 0.1 to 1 million (ARTISANAL) Mesothermal ounces of Gold] M’BANGA (ARTISANAL) Niger Au Placer, Allivial OM OP MOD [est 0.1 to 1 million ounces of Gold] SAMIRA (ARTISANAL) Niger Au Unknown CMO OP MOD [est 0.1 to 1 million ounces of Gold] SIRBA Niger Au, Ag Orogenic SP OP MOD 2.02 Mt @ 1.82g/t Au + Mesothermal 0.2g/t Ag 292 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TCHIBARAKATEN Niger Au Unknown OM PL HR MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] ANKA GOLDFIELD Nigeria Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] IPERINDO REEF Nigeria Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] ITAGUNMODI Nigeria Au Placer, Allivial PP OP MOD [est 0.1 to 1 million ounces of Gold] SEGILOLA Nigeria Au Orogenic OM OP MOD 4.5 Mt @ 4.67g/t Au Mesothermal BYUMBA Rwanda Au Orogenic AE OP MOD 5.55 Mt @ 1.48g/t Au Mesothermal MIYOVE Rwanda Au Placer, Allivial PP PL HR MOD [est 0.1 to 1 million ounces of Gold] NYUNGWE MINING Rwanda Au Placer, Allivial CMO AL MOD [est 0.1 to 1 million DISTRICT ounces of Gold] BOTO Senegal Au Orogenic FS OP 3 MAJ 48.8 Mt @ 1.59g/t Au Mesothermal DOUTA Senegal Au Orogenic PFS OP 3 MAJ 44.3 Mt @ 1.25g/t Au Mesothermal GOLOUMA Senegal Au Orogenic FS OP UG 3 MAJ 14.5 Mt @ 2.57g/t Au Mesothermal MAKABINGUI Senegal Au Orogenic DC OP 3 MAJ 11.9 Mt @ 2.63g/t Au Mesothermal MAKO Senegal Au Orogenic OM OP 3 MAJ 36.1 Mt @ 1.73g/t Au Mesothermal MASATO Senegal Au Orogenic OM OP 3 MAJ 69.5 Mt @ 1.12g/t Au Mesothermal MASSAWA Senegal Au Orogenic FS OP UG 2 MAJ 29.3 Mt @ 3.83g/t Au Mesothermal OJVG/GOLOUMA Senegal Au Orogenic PFS OP 3 MAJ 71.4 Mt @ 0.97g/t Au Mesothermal SABODALA Senegal Au Orogenic OM OP 3 MAJ 77.2 Mt @ 1.4g/t Au Mesothermal GORA Senegal Au Orogenic FS OP UG MOD 2.54 Mt @ 4.87g/t Au Mesothermal GOUMBOU GAMBA Senegal Au Orogenic AE OP MOD 2.92 Mt @ 1.27g/t Au Mesothermal KARAKARA Senegal Au Orogenic AE OP MOD 1.69 Mt @ 5.81g/t Au + Mesothermal 2.1g/t Ag KEREKOUNDA Senegal Au Orogenic FS OP UG MOD 2.54 Mt @ 3.83g/t Au Mesothermal NIAKAFIRI Senegal Au Orogenic AE OP MOD 18 Mt @ 1.02g/t Au Mesothermal SOFIA Senegal Au Orogenic FS OP MOD 10.6 Mt @ 2.56g/t Au Mesothermal BAOMAHUN Sierra Leone Au Orogenic UD OP UG 3 MAJ 45 Mt @ 1.92g/t Au Mesothermal APPENDICES | 293 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource FERENSOLA Sierra Leone Au, Ag, Cu VHMS AE OP 3 MOD [est 0.1 to 1 million ounces of Gold] NIMINI Sierra Leone Au Orogenic SP UG MOD 6.26 Mt @ 4.44g/t Au Mesothermal ARGONAUT DEEPS South Africa Au Placer SP UG 4 GIA 32.5 Mt @ 8.5g/t Au (Q-pebble), Alluvial ARMGOLD/ORKNEY South Africa Au Placer CM UG 2 GIA 338 Mt @ 3.3g/t Au (Q-pebble), Alluvial BARBERTON South Africa Au Orogenic OM UG 2 GIA 70.6 Mt @ 7.53g/t Au Mesothermal BEATRIX South Africa Au Placer OM UG 1 GIA 155 Mt @ 4.78g/t Au + (Q-pebble), 0.08kg/t U3O8 Alluvial BRACKEN MINES South Africa Au Placer OM UG 2 GIA 26.9 Mt @ 8.81g/t Au (Q-pebble), Alluvial BRAKPAN South Africa Au Placer CMO UG 3 GIA 57.6 Mt @ 8.37g/t Au (Q-pebble), Alluvial BUFFELSFONTEIN South Africa Au, U3O8 Placer OM UG 1 GIA 148 Mt @ 8.13g/t Au GOLD (Q-pebble), Alluvial BURNSTONE South Africa Au Placer OM UG 3 GIA 56.2 Mt @ 4.9g/t Au (Q-pebble), Alluvial CITY DEEP South Africa Au Placer CMO PL HR 3 GIA 67.6 Mt @ 8.5g/t Au (Q-pebble), Alluvial CONSOLIDATED MAIN South Africa Au Placer CMO UG 2 GIA 68.6 Mt @ 6.67g/t Au REEF (Q-pebble), Alluvial COOKE South Africa Au, U3O8 Placer OM UG 2 GIA 597 Mt @ 1.36g/t Au + (Q-pebble), 0.04kg/t U3O8 Alluvial CROWN MINES South Africa Au Placer CMO UG 2 GIA 163 Mt @ 8.67g/t Au (Q-pebble), Alluvial DAGGA South Africa Au Placer CMO UG 3 GIA 67.9 Mt @ 8.35g/t Au (Q-pebble), Alluvial DOORNKOP South Africa Au Placer OM UG 3 GIA 64.8 Mt @ 4.29g/t Au (Q-pebble), Alluvial DURBAN ROODEPORT South Africa Au Placer CMO UG 2 GIA 184 Mt @ 4.09g/t Au DEEP (Q-pebble), Alluvial EAST DAGGA South Africa Au Placer CMO UG 3 GIA 43.2 Mt @ 6.13g/t Au (Q-pebble), Alluvial 294 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource EAST DRIEFONTEIN South Africa Au Placer CMO UG 2 GIA 12.3 Mt @ 19.89g/t Au (Q-pebble), Alluvial EAST GEDULD South Africa Au Placer CMO UG 3 GIA 53.1 Mt @ 9.87g/t Au (Q-pebble), Alluvial EAST RAND South Africa Au, U3O8 Placer OM UG 3 GIA 49.8 Mt @ 4.09g/t Au (Q-pebble), Alluvial EAST RAND South Africa Au Placer CMO UG 1 GIA 209 Mt @ 6.95g/t Au PROPRIETARY (Q-pebble), Alluvial ELANDSRAND South Africa Au Placer CMO UG 2 GIA 56.2 Mt @ 6.58g/t Au (Q-pebble), Alluvial EVANDER South Africa Au Placer OM UG 1 GIA 400 Mt @ 3.51g/t Au (Q-pebble), Alluvial EVANDER 6 South Africa Au Placer FS UG 3 GIA 29.4 Mt @ 8.04g/t Au (Q-pebble), Alluvial FERREIRA DEEP South Africa Au Placer CMO UG 2 GIA 16.5 Mt @ 17.38g/t Au (Q-pebble), Alluvial FREDDIES South Africa Au Placer CMO UG 2 GIA 17.9 Mt @ 11.23g/t Au CONSOLIDATED (Q-pebble), Alluvial FREE STATE South Africa Au Placer CMO UG 1 GIA 181 Mt @ 4.36g/t Au CONSOLIDATED (Q-pebble), Alluvial FREE STATE GEDULD South Africa Au Placer CMO UG 2 GIA 64 Mt @ 18.45g/t Au MINE (Q-pebble), Alluvial FREE STATE SAAIPLAAS South Africa Au Placer CMO UG 2 GIA 28.9 Mt @ 8.29g/t Au (Q-pebble), Alluvial GEDULD South Africa Au Placer CMO UG 2 GIA 47.5 Mt @ 8.16g/t Au (Q-pebble), Alluvial GELDENHUIS DEEP South Africa Au Placer CMO UG 3 GIA 35.5 Mt @ 8.07g/t Au (Q-pebble), Alluvial GOVERNMENT GOLD South Africa Au Placer CMO UG 1 GIA 91.3 Mt @ 9.52g/t Au MINING AREAS (Q-pebble), Alluvial GROOTVLEI South Africa Au Placer CMO UG 3 GIA 102 Mt @ 6.03g/t Au (Q-pebble), Alluvial HARTEBEESTFONTEIN South Africa Au, U3O8 Placer CMO UG 2 GIA 128 Mt @ 9.29g/t Au GOLD MINE (Q-pebble), Alluvial APPENDICES | 295 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource JEANETTE South Africa Au Placer FS UG 3 GIA 46.5 Mt @ 10.2g/t Au (Q-pebble), Alluvial KINROSS MINE South Africa Au Placer OM UG 2 GIA 49.1 Mt @ 7.08g/t Au (Q-pebble), Alluvial KOPANANG South Africa Au, U3O8 Placer OM UG 1 GIA 69.4 Mt @ 8.66g/t Au (Q-pebble), Alluvial KUSASALETHU South Africa Au Placer OM UG 2 GIA 90.9 Mt @ 7.15g/t Au (Q-pebble), Alluvial LANGAAGTE South Africa Au Placer PP OP UG 1 GIA 45.2 Mt @ 9.08g/t Au (Q-pebble), Alluvial LIBANON MINE South Africa Au Placer CMO UG 2 GIA 69.6 Mt @ 8.5g/t Au (Q-pebble), Alluvial LORAINE MINES South Africa Au Placer CMO UG 3 GIA 61.5 Mt @ 6.81g/t Au (Q-pebble), Alluvial LUIPAARDS VLEI South Africa Au, U3O8 Placer CMO OP UG 3 GIA 40.4 Mt @ 6.4g/t Au (Q-pebble), Alluvial MARIEVALE South Africa Au Placer CMO UG 2 GIA 40 Mt @ 6.83g/t Au (Q-pebble), Alluvial MEGAMINE South Africa Au Placer PP UG 3 GIA 94.5 Mt @ 8.45g/t Au (Q-pebble), Alluvial MOAB KHOTSONG South Africa Au, U3O8 Placer OM UG 1 GIA 115 Mt @ 3.88g/t Au + (Q-pebble), 0.21kg/t U3O8 Alluvial MODDER EAST South Africa Au Placer OM UG 2 GIA 127 Mt @ 3.55g/t Au (Q-pebble), Alluvial MODDERFONTEIN B South Africa Au Placer CMO UG 2 GIA 31.4 Mt @ 9.15g/t Au (Q-pebble), Alluvial MPONENG South Africa Au Placer OM UG 1 GIA 118 Mt @ 10.98g/t Au (Q-pebble), Alluvial NEW KLEINFONTEIN South Africa Au Placer CMO UG 2 GIA 45.7 Mt @ 6.54g/t Au (Q-pebble), Alluvial NEW MODDER South Africa Au Placer CMO OP UG 2 GIA 54.5 Mt @ 10.57g/t Au (Q-pebble), Alluvial NEW STATE AREAS South Africa Au Placer CMO UG 2 GIA 30.5 Mt @ 9.99g/t Au (Q-pebble), Alluvial 296 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource NOURSE (DEEP) South Africa Au Placer CMO UG 3 GIA 28.9 Mt @ 10.29g/t Au (Q-pebble), Alluvial ORIBI South Africa Au Placer AE UG 4 GIA 67.6 Mt @ 5g/t Au (Q-pebble), Alluvial PRESIDENT BRAND South Africa Au Placer CMO UG 2 GIA 72.3 Mt @ 15.32g/t Au MINE (Q-pebble), Alluvial PRESIDENT STEYN South Africa Au Placer OM UG 1 GIA 154 Mt @ 8.82g/t Au MINE (Q-pebble), Alluvial RAND LEASES South Africa Au Placer CMO UG 1 GIA 56.2 Mt @ 5.87g/t Au (Q-pebble), Alluvial RANDFONTEIN South Africa Au Placer CMO UG 2 GIA 135 Mt @ 4.85g/t Au ESTATES (Q-pebble), Alluvial ROBINSON DEEP South Africa Au Placer CMO OP UG 2 GIA 64 Mt @ 7.75g/t Au (Q-pebble), Alluvial ROSE DEEP, LTD. South Africa Au Placer CMO UG 2 GIA 40.4 Mt @ 7.4g/t Au (Q-pebble), Alluvial SALLIES South Africa Au Placer AE UG 3 GIA 38.6 Mt @ 8.66g/t Au (Q-pebble), Alluvial SIMMER AND JACK South Africa Au Placer CMO OP UG 2 GIA 58.9 Mt @ 7.69g/t Au (Q-pebble), Alluvial SOUTH AFRICAN LAND South Africa Au Placer CMO UG 2 GIA 42.1 Mt @ 7.43g/t Au AND EXPLORATION (Q-pebble), COMPANY Alluvial SPRINGS South Africa Au Placer CMO UG 2 GIA 52.1 Mt @ 8.59g/t Au (Q-pebble), Alluvial ST. HELENA MINES South Africa Au Placer OM UG 1 GIA 86.5 Mt @ 9.88g/t Au (Q-pebble), Alluvial STILFONTEIN GOLD South Africa Au, U3O8 Placer CMO UG 2 GIA 71.8 Mt @ 9.73g/t Au MINE (Q-pebble), Alluvial TARGET South Africa Au Placer OM UG 2 GIA 41.1 Mt @ 6.39g/t Au (Q-pebble), Alluvial TAUTONA South Africa Au Placer CMO UG 1 GIA 69.4 Mt @ 10.74g/t Au (Q-pebble), Alluvial TSHEPONG South Africa Au Placer OM UG 1 GIA 68.5 Mt @ 8.29g/t Au (Q-pebble), Alluvial APPENDICES | 297 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource VAAL REEFS South Africa Au, U3O8 Placer OM UG 1 GIA 163 Mt @ 8.53g/t Au (Q-pebble), Alluvial VAAL RIVER SURACE South Africa Au, U3O8 Placer OM TA 3 GIA 813 Mt @ 0.24g/t Au + OPERATIONS (Q-pebble), 0.06kg/t U3O8 (TAILINGS) Alluvial VAN RYN DEEP South Africa Au Placer CMO UG 3 GIA 23.9 Mt @ 10.11g/t Au (Q-pebble), Alluvial VENTERSPOST MINE South Africa Au Placer CMO UG 2 GIA 69.2 Mt @ 7.38g/t Au (Q-pebble), Alluvial VIRGINIA South Africa Au, Cr, Cu Placer CMO UG 2 GIA 26.5 Mt @ 8.16g/t Au (Q-pebble), Alluvial VLAKFONTEIN South Africa Au Placer CMO UG 3 GIA 18.2 Mt @ 11.51g/t Au (Q-pebble), Alluvial VOGELSTRUISBULT South Africa Au Placer CMO UG 3 GIA 27 Mt @ 8.28g/t Au (Q-pebble), Alluvial WELKOM South Africa Au Placer CMO UG 1 GIA 49 Mt @ 9.08g/t Au (Q-pebble), Alluvial WEST RAND South Africa Au, U3O8 Placer CMO UG 1 GIA 131 Mt @ 4.7g/t Au CONSOLIDATED MINE (Q-pebble), Alluvial WESTERN AREAS South Africa Au Placer OM UG 1 GIA 111 Mt @ 6.1g/t Au (Q-pebble), Alluvial WESTERN HOLDINGS South Africa Au Placer CMO UG 2 GIA 62.3 Mt @ 17.7g/t Au (Q-pebble), Alluvial WHITE RIVERS JV South Africa Au, U3O8 Placer PFS UG 3 GIA 49.2 Mt @ 7.26g/t Au + (Q-pebble), 0.08kg/t U3O8 Alluvial WINKELHAAK MINE South Africa Au Placer CMO UG 3 GIA 94.6 Mt @ 7.3g/t Au (Q-pebble), Alluvial WITWATERSRAND South Africa Au Placer CMO OP UG 2 GIA 13.4 Mt @ 15g/t Au (Q-pebble), Alluvial WITWATERSRAND South Africa Au Placer CMO OP UG 2 GIA 30.2 Mt @ 6.66g/t Au GOLD MINE CO (Q-pebble), Alluvial BAMBANANI South Africa Au Placer OM UG 3 MAJ 7.33 Mt @ 8.34g/t Au (Q-pebble), Alluvial BARBROOK South Africa Au Placer CM UG 3 MAJ 15.3 Mt @ 4.33g/t Au (Q-pebble), Alluvial 298 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BETA South Africa Au Placer PFS UG 3 MAJ 5.72 Mt @ 5.85g/t Au (Q-pebble), Alluvial BLOEMHOEK/ South Africa Au Placer FS UG 3 MAJ 28.3 Mt @ 4.72g/t Au WELGELEGEN (Q-pebble), Alluvial CITY AND SUBURBAN South Africa Au Placer CMO UG 2 MAJ 5.65 Mt @ 15g/t Au (Q-pebble), Alluvial CONSOLIDATED South Africa Au, Sb Unknown OM UG 3 MAJ 50.5 Mt @ 1.53g/t Au MURCHISON differentiated Hydrothermal CROWN DEEP South Africa Au Placer CMO UG 3 MAJ 2.67 Mt @ 15.17g/t Au (Q-pebble), Alluvial CROWN GOLD South Africa Au Placer CMO UG 2 MAJ 6.46 Mt @ 15g/t Au RECOVERIES (Q-pebble), Alluvial CROWN REEF South Africa Au Placer CMO UG 3 MAJ 2.09 Mt @ 19.91g/t Au (Q-pebble), Alluvial DE BRON MERRIESPUIT South Africa Au Placer PFS UG 3 MAJ 32.7 Mt @ 4.64g/t Au (Q-pebble), Alluvial DEELKRAAL South Africa Au Placer CMO UG 2 MAJ 24.7 Mt @ 5.41g/t Au (Q-pebble), Alluvial DOORNFONTEIN (OLD) South Africa Au Placer CMO OP UG 3 MAJ [est 1 to 6 million (Q-pebble), ounces of Gold] Alluvial DU PREEZ LEGER South Africa Au Placer OM UG 3 MAJ 26.2 Mt @ 5.11g/t Au (Q-pebble), Alluvial EAST CHAMP D’OR South Africa Au, U3O8 Placer CMO UG 3 MAJ 7.11 Mt @ 6.13g/t Au + (Q-pebble), 0.16kg/t U3O8 Alluvial ELSBURG South Africa Au Placer OM UG 2 MAJ 4.65 Mt @ 10g/t Au (Q-pebble), Alluvial FERREIRA South Africa Au Placer CMO UG 3 MAJ 3.24 Mt @ 21.91g/t Au (Q-pebble), Alluvial GELDENHUYS ESTATE South Africa Au Placer CMO UG 3 MAJ 1.86 Mt @ 16.81g/t Au (Q-pebble), Alluvial GLYNNS LYDENBURG South Africa Au Orogenic PFS UG 3 MAJ 13 Mt @ 4.87g/t Au Mesothermal JOEL South Africa Au Placer OM UG 2 MAJ 27.3 Mt @ 5.99g/t Au (Q-pebble), Alluvial APPENDICES | 299 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KALGOLD South Africa Au Orogenic OM OP 3 MAJ 114 Mt @ 1.02g/t Au Mesothermal KLERKSDORP (OLD South Africa Au Placer CMO OP UG 3 MAJ [est 1 to 6 million WORKINGS) (Q-pebble), ounces of Gold] Alluvial KNIGHTS CENTRAL South Africa Au Placer CMO UG 3 MAJ 2.51 Mt @ 15g/t Au (Q-pebble), Alluvial KNIGHTS DEEP South Africa Au Placer CMO UG 2 MAJ 7.4 Mt @ 15g/t Au (Q-pebble), Alluvial LEEUDOORN South Africa Au Placer OM UG 3 MAJ [est 1 to 6 million (Q-pebble), ounces of Gold] Alluvial LESLIE GOLD MINE South Africa Au Placer OM UG 3 MAJ 25.9 Mt @ 3.5g/t Au (Q-pebble), Alluvial LILY South Africa Au Orogenic CM OP UG 3 MAJ 29.4 Mt @ 2.16g/t Au Mesothermal LINDUM REEFS South Africa Au Placer CMO OP 4 MAJ 12 Mt @ 2.8g/t Au (Q-pebble), Alluvial MANGALISA South Africa Au, U3O8 Placer AE UG 4 MAJ [est 1 to 6 million (Q-pebble), ounces of Gold] Alluvial MIDDELVEI South Africa Au Placer CM OP 3 MAJ 11.1 Mt @ 5.52g/t Au (Q-pebble), Alluvial MYER AND CHARLTON South Africa Au Placer CMO UG 2 MAJ 5.41 Mt @ 15g/t Au (Q-pebble), Alluvial NEW PRIMROSE South Africa Au Placer CMO UG 2 MAJ 4.9 Mt @ 15g/t Au (Q-pebble), Alluvial NEW RIETFONTEIN South Africa Au Placer CMO UG 3 MAJ 2.18 Mt @ 14.52g/t Au (Q-pebble), Alluvial NIGEL South Africa Au Placer CMO UG 3 MAJ 25 Mt @ 6.21g/t Au (Q-pebble), Alluvial PILGRIMS REST South Africa Au Orogenic PP UG 3 MAJ [est 1 to 6 million GOLDFIELD Mesothermal ounces of Gold] PRIMROSE South Africa Au Placer CMO UG 3 MAJ 5.24 Mt @ 12g/t Au (Q-pebble), Alluvial RIEBEECK South Africa Au Placer CMO UG 3 MAJ [est 1 to 6 million (Q-pebble), ounces of Gold] Alluvial RIETFONTEIN South Africa Au Placer CMO UG 3 MAJ 7.97 Mt @ 7.55g/t Au (Q-pebble), Alluvial 300 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ROBIJN South Africa Au, U3O8 Placer AE UG 3 MAJ 20.7 Mt @ 4.5g/t Au (Q-pebble), Alluvial ROBINSON GOLD MINE South Africa Au Placer CMO UG 3 MAJ 10.8 Mt @ 16.9g/t Au (Q-pebble), Alluvial ROODEPORT UNITED South Africa Au Placer CMO UG 2 MAJ 5.11 Mt @ 9.98g/t Au MAIN REEF (Q-pebble), Alluvial SAND RIVER South Africa Au, U3O8 Placer AE UG 3 MAJ 102 Mt @ 5.38g/t Au + (Q-pebble), 0.07kg/t U3O8 Alluvial SOUTH ROODEPOORT South Africa Au Placer CMO UG 2 MAJ 3.31 Mt @ 10.78g/t Au (Q-pebble), Alluvial THETA South Africa Au Orogenic DC OP 3 MAJ 13 Mt @ 3.12g/t Au Mesothermal UNISEL South Africa Au Placer OM UG 3 MAJ 27.3 Mt @ 5.55g/t Au (Q-pebble), Alluvial VAN DYK South Africa Au Placer CMO UG 3 MAJ 24.7 Mt @ 6.55g/t Au (Q-pebble), Alluvial VAN RYN ESTATES South Africa Au Placer CMO UG 2 MAJ 20.9 Mt @ 7.41g/t Au (Q-pebble), Alluvial VENTERSBURG South Africa Au Placer SP UG 3 MAJ 34.3 Mt @ 3.77g/t Au (Q-pebble), Alluvial VILLAGE DEEP South Africa Au Placer CMO UG 2 MAJ 12.4 Mt @ 10.93g/t Au (Q-pebble), Alluvial VILLAGE MAIN REEF South Africa Au Placer CMO UG 3 MAJ 18 Mt @ 8.46g/t Au (Q-pebble), Alluvial WELTEVREDEN South Africa Au Placer UD UG 3 MAJ 20.9 Mt @ 4.75g/t Au (Q-pebble), Alluvial WEST SPRINGS South Africa Au Placer CMO UG 3 MAJ 19.1 Mt @ 7.74g/t Au (Q-pebble), Alluvial WEST South Africa Au Placer CMO UG 2 MAJ 5.15 Mt @ 15g/t Au WITWATERSRAND (Q-pebble), Alluvial WIT NIGEL South Africa Au Placer CMO UG 3 MAJ 13.9 Mt @ 6.88g/t Au (Q-pebble), Alluvial WITWATERSRAND South Africa Au Placer CMO UG 3 MAJ 18.1 Mt @ 8.75g/t Au (DEEP) (Q-pebble), Alluvial APPENDICES | 301 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource WITWATERSRAND South Africa Au, U3O8 Placer OM OP UG 3 MAJ 30.3 Mt @ 4.46g/t Au BASIN (Q-pebble), Alluvial WITWATERSRAND South Africa Au Placer CMO OP UG 3 MAJ 8.15 Mt @ 7g/t Au NIGEL (Q-pebble), Alluvial ZANDPAN South Africa Au, U3O8 Placer CMO UG 3 MAJ 6.06 Mt @ 12.59g/t Au (Q-pebble), Alluvial BEISA (ST HELENA) South Africa Au Placer CMO OP MOD 2.25 Mt @ 1.47g/t Au (Q-pebble), Alluvial CHAMP DOR FRENCH South Africa Au Placer CMO OP UG MOD 0.94 Mt @ 15.69g/t Au (Q-pebble), Alluvial ELANDSHOOGTE South Africa Au Orogenic CMO UG MOD 0.85 Mt @ 4.66g/t Au Mesothermal MALMANI South Africa Au, Mn Vein Hosted AE OP UG MOD 1.13 Mt @ 5.67g/t Au MAMRE-SLAAIHOEK South Africa Au, Cu, Bi Orogenic CMO UG MOD 2.08 Mt @ 6g/t Au Mesothermal NEW ROBINSON South Africa Au Placer CMO UG MOD 1.84 Mt @ 11.11g/t Au (Q-pebble), Alluvial NIGEL GOLD MINING South Africa Au Placer CMO UG MOD 1.82 Mt @ 16.59g/t Au CO (Q-pebble), Alluvial NOURSE MINES South Africa Au Placer CMO OP UG MOD 0.67 Mt @ 23.27g/t Au (Q-pebble), Alluvial PAARDEKRAAL South Africa Au Placer CMO OP UG MOD [est 0.1 to 1 million (Q-pebble), ounces of Gold] Alluvial RIETFONTEIN South Africa Au, Cu, As, Bi Orogenic PP UG MOD 3.19 Mt @ 8.38g/t Au Mesothermal SIMMER AND JACK South Africa Au Placer CMO UG MOD 2.37 Mt @ 12.6g/t Au EAST (Q-pebble), Alluvial SPAARWATER South Africa Au Placer CMO UG MOD 2.56 Mt @ 10.38g/t Au (Q-pebble), Alluvial SVENGALI South Africa Au Orogenic CM OP MOD 2.05 Mt @ 2.53g/t Au Mesothermal TARGET NORTH South Africa Au Placer OM UG 3 MOD [est 0.1 to 1 million (Q-pebble), ounces of Gold] Alluvial TRANSVAAL South Africa Au Orogenic PP PL + HR MOD [est 0.1 to 1 million DRAKENSBURG Mesothermal ounces of Gold] GOLDFIELD VAALHOEK South Africa Au Orogenic OM UG MOD 3.97 Mt @ 5.72g/t Au Mesothermal 302 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource WEST DRIEFONTEIN South Africa Au Placer CMO OP UG 3 MOD 1.46 Mt @ 15.38g/t Au (OLD) (Q-pebble), Alluvial WORCESTER South Africa Au Orogenic AE UG MOD 4.17 Mt @ 4.6g/t Au Mesothermal BLYVOORUITZICHT South Africa Au Placer CM UG 1 SGIA 685 Mt @ 3.89g/t Au (Q-pebble), Alluvial DRIEFONTEIN South Africa Au Placer OM UG 1 SGIA 310 Mt @ 12.68g/t Au CONSOLIDATED (Q-pebble), Alluvial FREE STATE South Africa Au, U3O8 Placer OM UG 1 SGIA 309 Mt @ 8.4g/t Au (Q-pebble), Alluvial FREEGOLD South Africa Au, U3O8 Placer OM UG 1 SGIA 392 Mt @ 8.4g/t Au + (Q-pebble), 0.12kg/t U3O8 Alluvial HARMONY MINE South Africa Au, U3O8 Placer OM UG 1 SGIA 413 Mt @ 5.35g/t Au (Q-pebble), Alluvial KLERKSDORP South Africa Au, U3O8 Placer OM UG 1 SGIA 170 Mt @ 14.45g/t Au (Q-pebble), Alluvial KLOOF CONSOLIDATED South Africa Au, U3O8 Placer OM UG 1 SGIA 410 Mt @ 7.82g/t Au (Q-pebble), Alluvial POTCHEFSTROOM South Africa Au, U3O8 Placer SP UG 3 SGIA 334 Mt @ 7.1g/t Au + (Q-pebble), 0.22kg/t U3O8 Alluvial RANDFONTEIN South Africa Au, U3O8 Placer OM UG 1 SGIA 1274 Mt @ 2.49g/t Au (Q-pebble), Alluvial SOUTH DEEP South Africa Au Placer OM UG 1 SGIA 420 Mt @ 5.52g/t Au (Q-pebble), Alluvial KAPOETA (ALLUVIAL) South Sudan Au Placer, Allivial OM PL MOD [est 0.1 to 1 million ounces of Gold] HASSAI (CAMP) Sudan Au, Cu, Zn, Ag VHMS OM OP 2 GIA 156 Mt @ 1.81g/t Au + 0.87% Cu + 0.14% Zn WADI GABGABA Sudan Au Orogenic FS OP 2 GIA 171 Mt @ 1.25g/t Au Mesothermal BLOCK 14 ARTISANAL Sudan Au Placer, Allivial OM PL + HR 3 MAJ [est 1 to 6 million WORKINGS ounces of Gold] BLOCK 15 ARTISANAL Sudan Au Placer, Allivial OM PL + HR 2 MAJ [est 1 to 6 million WORKINGS ounces of Gold] GALAT SUFAR SOUTH Sudan Au, Ag Orogenic PFS OP 3 MAJ 92.5 Mt @ 1.36g/t Au + Mesothermal 1.78g/t Ag GERBEIT (ALLUVIALS) Sudan Au Placer, Allivial OM AL 3 MAJ [est 1 to 6 million ounces of Gold] APPENDICES | 303 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource JABIR Sudan Au Placer, Allivial OM AL 3 MAJ 1.299 Moz Au SUARAD (ALLUVIALS) Sudan Au Placer, Allivial OM AL 3 MAJ [est 1 to 6 million ounces of Gold] ABU HAMAD Sudan Au Placer, Allivial OM AL MOD [est 1 to 6 million (ARTISANAL) ounces of Gold] ABU SAMAR Sudan Au VHMS AE OP MOD [est 1 to 6 million ounces of Gold] ABU SARA Sudan Au Orogenic OM OP UG MOD 910 koz Au Mesothermal ALKHUNNAG Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] BALKABDI Sudan Au Placer, Allivial AL MOD [est 0.1 to 1 million ounces of Gold] BIG PTS Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] DELGO Sudan Au Orogenic OM OP MOD 910 koz Au Mesothermal EAST Sudan Au Placer, Allivial OM AL MOD 389 koz Au FLOOS Sudan Au Placer, Allivial OM AL MOD 649 koz Au GEBEIT Sudan Au Orogenic CMO UG MOD 1.07 Mt @ 18.41g/t Au Mesothermal IGARIRI Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] JABEL ‘AMER Sudan Au Unknown OM PL HR 3 MOD [est 0.1 to 1 million (ARTISANAL) ounces of Gold] KAFASAI Sudan Au VHMS AE OP MOD [est 0.1 to 1 million ounces of Gold] KIMAWEIT Sudan Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] KONDO Sudan Au Placer, Allivial OM AL MOD 260 koz Au KOYA Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] KUDUARMA Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] LATITUDE Sudan Au Placer, Allivial OM AL MOD 778 koz Au MUSSIEYE PIT Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] NIGIM (NEW) Sudan Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] ONIB MINE Sudan Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] SA’DINFANTI Sudan Au Placer, Allivial OM AL MOD 257 koz Au SAVARDA Sudan Au Placer, Allivial OM AL MOD 518 koz Au TARGET Sudan Au Orogenic OM OP UG MOD 129 koz Au Mesothermal 304 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TARGET A38 Sudan Au Orogenic FS OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] TINARI Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] UNKNOWN 1 Sudan Au Placer, Allivial OM AL MOD 500 koz Au UNKNOWN 2 Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] UNKNOWN 3 Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] UNKNOWN 4 Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] UNKNOWN 5 Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] UNKNOWN 6 Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] UNKNOWN 7 Sudan Au Placer, Allivial OM AL MOD [est 0.1 to 1 million ounces of Gold] UNKNOWN 8 Sudan Au, Ag Orogenic FS OP MOD 5.9 Mt @ 1.71g/t Au + Mesothermal 5g/t Ag WADI USHAR Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million (ARTISINAL Mesothermal ounces of Gold] WADI USHAR (KUSH) Sudan Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] WAWA Sudan Au Placer, Allivial OM AL MOD 129 koz au PIGG’S PEAK Swaziland Au Orogenic CMO UG MOD 0.41 Mt @ 10g/t Au Mesothermal BULYANHULU Tanzania Au, Cu, Ag Orogenic OM UG 1 GIA 82.3 Mt @ 6.99g/t Au + Mesothermal 0.44% Cu + 7.23g/t Ag GEITA Tanzania Au Orogenic OM OP 1 GIA 256 Mt @ 2.78g/t Au Mesothermal NORTH MARA Tanzania Au Orogenic OM OP 2 GIA 159 Mt @ 2.52g/t Au Mesothermal BIZIBA-BUSOLWA Tanzania Au, Mo Orogenic SP OP 3 MAJ 49.6 Mt @ 1g/t Au Mesothermal BUCKREEF Tanzania Au, Mo Orogenic DC OP 3 MAJ 58.2 Mt @ 1.56g/t Au Mesothermal BUZWAGI Tanzania Au, Cu Orogenic OM OP 2 MAJ 53.6 Mt @ 1.47g/t Au + Mesothermal 0.11% Cu GEITA (OLD MINE) Tanzania Au Orogenic CMO UG 2 MAJ 12.5 Mt @ 4.61g/t Au Mesothermal GOLDEN PRIDE Tanzania Au Orogenic CMO OP 3 MAJ 62 Mt @ 1.91g/t Au Mesothermal HANDENI Tanzania Au Orogenic PFS OP 3 MAJ 21.9 Mt @ 1.44g/t Au Mesothermal NEW LUIKA Tanzania Au Orogenic OM OP 3 MAJ 19.6 Mt @ 2.99g/t Au Mesothermal APPENDICES | 305 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource NYANZAGA Tanzania Au Orogenic FS OP 2 MAJ 30 Mt @ 2.47g/t Au Mesothermal TULAWAKA Tanzania Au Orogenic CMO OP UG 3 MAJ 3.4 Mt @ 9.59g/t Au Mesothermal VICTORIA Tanzania Au Orogenic AE OP 3 MAJ 32.7 Mt @ 1.22g/t Au Mesothermal GOLDEN RIDGE Tanzania Au Orogenic SP OP MOD 9.36 Mt @ 2.7g/t Au Mesothermal IGURUBI Tanzania Au Orogenic AE OP MOD 6.5 Mt @ 2.65g/t Au Mesothermal IKUNGU Tanzania Au Orogenic UD UG MOD 0.46 Mt @ 12.51g/t Au Mesothermal ITETEMIA Tanzania Au Orogenic UD OP UG MOD 4.48 Mt @ 2.96g/t Au Mesothermal JUBILEE REEF Tanzania Au Orogenic UD OP MOD 8.5 Mt @ 1.43g/t Au Mesothermal KIGOSI Tanzania Gold Orogenic AE OP MOD 21.8 Mt @ 0.84g/t Au Mesothermal KITONGO Tanzania Au Orogenic AE OP MOD 7.8 Mt @ 1.48g/t Au Mesothermal LAKE VICTORIA Tanzania Au Orogenic SP OP MOD 20.3 Mt @ 1.38g/t Au Mesothermal LUHALA Tanzania Au Orogenic AE OP MOD 1.86 Mt @ 1.87g/t Au Mesothermal LUNGUYA NORTH Tanzania Au Orogenic AE OP MOD 7.8 Mt @ 1.1g/t Au Mesothermal LUPA Tanzania Au Orogenic AE OP MOD 3.97 Mt @ 1.1g/t Au + Mesothermal 2.6g/t Ag LUPA GOLD FIELD Tanzania Au Placer, Allivial PP AL MOD [est 0.1 to 1 million (ALLUVIAL) ounces of Gold] MAGAMBAZI Tanzania Au Placer, Allivial OM PL HR MOD [est 0.1 to 1 million (ALLUVIALS) ounces of Gold] MGUSU Tanzania Au Intrusion Related SP OP UG MOD 6.2 Mt @ 3.75g/t Au Gold System MIYABI Tanzania Au Orogenic PFS OP MOD 14.9 Mt @ 1.56g/t Au Mesothermal NYASENERO Tanzania Au Orogenic CMO OP UG MOD 1.17 Mt @ 10.4g/t Au Mesothermal SAZA (OLD WORKINGS) Tanzania Au Orogenic CMO UG MOD 1.18 Mt @ 7.5g/t Au Mesothermal SINGIDA Tanzania Au Orogenic DC OP MOD 11.3 Mt @ 2.35g/t Au Mesothermal BUHWEJU PLATEAU Uganda Au Placer, Allivial OM PL HR MOD [est 0.1 to 1 million ounces of Gold] BUSIA Uganda Au Orogenic OM OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] 306 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MAWERO Uganda Au Orogenic DC OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] DUNROBIN Zambia Au, Cu, Fe IOCG FS OP MOD 2.98 Mt @ 2.61g/t Au CAM AND MOTOR Zimbabwe Au, Sb Orogenic CM OP UG 3 GIA 30.2 Mt @ 7.1g/t Au Mesothermal ARCTURUS Zimbabwe Au Orogenic CM UG 3 MAJ 12.5 Mt @ 5.91g/t Au Mesothermal BLANKET Zimbabwe Au Orogenic OM UG 3 MAJ 45.9 Mt @ 3.46g/t Au Mesothermal DALNY Zimbabwe Au Orogenic OM UG 3 MAJ 13.5 Mt @ 7.41g/t Au Mesothermal DOKWE Zimbabwe Au Orogenic AE OP 3 MAJ 36.8 Mt @ 1.09g/t Au Mesothermal DURBAN (NEW) Zimbabwe Au Orogenic AE OP 3 MAJ 21.5 Mt @ 3.14g/t Au Mesothermal EUREKA Zimbabwe Au Orogenic OM OP UG 3 MAJ 22.4 Mt @ 1.9g/t Au Mesothermal FREDA-REBECCA Zimbabwe Au Orogenic OM OP UG 3 MAJ 41.8 Mt @ 2.6g/t Au Mesothermal GAIKA Zimbabwe Au Orogenic CMO OP UG 3 MAJ 18.4 Mt @ 3.6g/t Au Mesothermal GLOBE AND PHOENIX Zimbabwe Au, Sb, As Orogenic CMO OP UG 2 MAJ 6.66 Mt @ 21.06g/t Au Mesothermal HOW Zimbabwe Au, As Orogenic OM UG 3 MAJ [est 1 to 6 million Mesothermal ounces of Gold] INDARAMA Zimbabwe Au Orogenic OM OP UG 3 MAJ 13.5 Mt @ 3.3g/t Au Mesothermal LONELY Zimbabwe Au Orogenic CMO UG 3 MAJ 2.21 Mt @ 19.44g/t Au Mesothermal MAZOWE Zimbabwe Au Orogenic CM UG 2 MAJ 17.7 Mt @ 6.06g/t Au Mesothermal PENHALONGA Zimbabwe Au Orogenic CMO UG 3 MAJ 3.63 Mt @ 11.79g/t Au Mesothermal PICKSTONE-PEERLESS Zimbabwe Au, Ag Orogenic OM OP 3 MAJ 72.4 Mt @ 1.57g/t Au Mesothermal REDWING Zimbabwe Au Orogenic OM UG 3 MAJ 33.8 Mt @ 2.27g/t Au Mesothermal RENCO Zimbabwe Au, Cu Orogenic OM UG 3 MAJ 12.2 Mt @ 6.79g/t Au + Mesothermal 1.1% Cu SABI Zimbabwe Au Orogenic OM UG 3 MAJ 6.78 Mt @ 5.49g/t Au Mesothermal SHAMVA Zimbabwe Au, As Orogenic CM UG 3 MAJ 49.9 Mt @ 3.45g/t Au Mesothermal TURK Zimbabwe Au Orogenic OM UG 3 MAJ 13.9 Mt @ 4.29g/t Au Mesothermal WANDERER GROUP Zimbabwe Au Orogenic CMO UG 3 MAJ 9.87 Mt @ 4.56g/t Au (OLD WORKINGS) Mesothermal APPENDICES | 307 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ANTELOPE Zimbabwe Au, Cr, Cu Orogenic AE UG MOD 0.49 Mt @ 20g/t Au Mesothermal ANZAC Zimbabwe Au Orogenic OM OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] ATHENS Zimbabwe Au, Cu Unknown CMO OP UG MOD [est 0.1 to 1 million differentiated ounces of Gold] Hydrothermal AYRSHIRE Zimbabwe Au Orogenic CMO OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] BELL-RIVERLEA Zimbabwe Au, As Orogenic OM OP UG MOD 3.34 Mt @ 4.97g/t Au Mesothermal BUSHTICK Zimbabwe Au Orogenic CMO OP UG MOD 1.8 Mt @ 6.08g/t Au Mesothermal CAMPERDOWN Zimbabwe Au Orogenic OM UG MOD 14.2 Mt @ 1.68g/t Au Mesothermal CAMPERDOWN (OLD) Zimbabwe Au Orogenic CMO OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] COLLISON Zimbabwe Au Orogenic AE OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] COMMONER Zimbabwe Au Orogenic OM UG MOD 0.55 Mt @ 8.69g/t Au Mesothermal CONNEMARA Zimbabwe Au Orogenic CMO OP MOD 12.5 Mt @ 1.99g/t Au Mesothermal DURBAN (OLD) Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] EASTNOR Zimbabwe Au Orogenic OM OP MOD [est 0.1 to 1 million Mesothermal ounces of Gold] ELDORADO Zimbabwe Au Orogenic AE UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] FALCON Zimbabwe Au, Cu Unknown DC UG MOD [est 0.1 to 1 million differentiated ounces of Gold] Hydrothermal FORD Zimbabwe Au, Ag Orogenic CMO OP MOD 6 Mt @ 2.25g/t Au Mesothermal FRED Zimbabwe Au, As Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] FREDA Zimbabwe Au Orogenic CMO OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] GADZEMA Zimbabwe Au Orogenic AE OP MOD 10.4 Mt @ 1.5g/t Au Mesothermal GEELONG Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] GIANT (OLD Zimbabwe Au Orogenic CMO OP UG MOD 2.13 Mt @ 8.2g/t Au WORKINGS) Mesothermal GOLDEN KOPJE Zimbabwe Au Orogenic PP UG MOD 2.31 Mt @ 4.56g/t Au Mesothermal GOLDEN VALLEY Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] 308 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource INEZ Zimbabwe Au Orogenic CMO OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] IPANEMA Zimbabwe Au, Cu Orogenic AE OP MOD 4.83 Mt @ 2g/t Au + Mesothermal 0.2% Cu ISABELLA-McCAYS- Zimbabwe Au Orogenic OM OP MOD 15.8 Mt @ 1.45g/t Au BUBI Mesothermal JENA Zimbabwe Au Orogenic OM UG MOD 4.21 Mt @ 3.55g/t Au Mesothermal JESSIE Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] LEGION Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] MAKAHA Zimbabwe Au Orogenic SP OP MOD 9.2 Mt @ 1.2g/t Au Mesothermal MALIGREEN Zimbabwe Au Orogenic AE OP MOD 14.4 Mt @ 1.93g/t Au Mesothermal MARVEL Zimbabwe Au Orogenic CMO OP UG MOD 3.95 Mt @ 3.25g/t Au Mesothermal MOTAPA Zimbabwe Au Orogenic AE OP UG MOD 8.31 Mt @ 2.72g/t Au Mesothermal MURIEL Zimbabwe Au Orogenic CMO UG MOD 1.51 Mt @ 13.9g/t Au Mesothermal OLD NIC Zimbabwe Au Orogenic CMO UG MOD 2 Mt @ 5.37g/t Au Mesothermal PENHALONGA Zimbabwe Au, Diamonds Placer, Allivial CMO AL MOD [est 0.1 to 1 million (ALLUVIALS) ounces of Gold] PICKSTONE (OLD) Zimbabwe Au, Ag Orogenic CMO UG MOD 1.9 Mt @ 6.6g/t Au Mesothermal PIPER MOSS Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] PRINCE OF WALES Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] QUEENS GROUP Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] RAN Zimbabwe Au, Cu Orogenic AE OP UG MOD 7.91 Mt @ 2.1g/t Au + Mesothermal 0.33% Cu SHERWOOD STAR Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] SUNACE Zimbabwe Au Orogenic CMO UG MOD 3.25 Mt @ 4.48g/t Au Mesothermal SURPRISE Zimbabwe Au, Cu Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] TABA MALI Zimbabwe Au Orogenic OM OP UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] TAFUNA HILL GROUP Zimbabwe Au, W Orogenic CMO UG MOD 0.57 Mt @ 13.8g/t Au + Mesothermal 1.55% W TEBEKWE Zimbabwe Au Orogenic CMO UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] APPENDICES | 309 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TOTORORO DISTRICT Zimbabwe Au Orogenic OM UG MOD [est 0.1 to 1 million Mesothermal ounces of Gold] VENICE Zimbabwe Au Orogenic PP UG MOD 6.15 Mt @ 3.18g/t Au Mesothermal VUBACHIKWE Zimbabwe Au Orogenic CMO OP UG MOD 3.78 Mt @ 7.09g/t Au Mesothermal GRAPHITE Number of Significant Deposits = 26 KAMBALE Ghana Flake Sedimentary AE OP MOD 22.4 Mt @ 8.6% Cg (general) LOLA Guinea Flake Sedimentary FS OP MOD 66.3 Mt @ 3.90% Cg (general) MOLO Madagascar Flake Sedimentary DC OP 3 MAJ 141.28 Mt @ 6.13% Cg (general) GRAPHMADA Madagascar Flake Sedimentary OM OP MOD 61.9 Mt @ 4.5% Cg (general) MANIRY Madagascar Flake Sedimentary FS OP MOD 40.0 Mt @ 6.48% Cg (general) DUWI Malawi Flake, V Sedimentary AE OP 4 MAJ 85.9 Mt @ 7.13% Cg (general) MALINGUNDE Malawi Flake, V Sedimentary FS OP MOD 66.3 Mt @ 7.22% Cg (general) MONTEPUEZ Mozambique Flake Sedimentary FS OP 3 MAJ 158.2 Mt @ 6.4% Cg (GRAPHITE) (general) ANCUABE (AMG) Mozambique Flake, V Sedimentary OM OP MOD [est 0.6 to 6 million (general) tonnes of Graphite] ANCUABE (TRITON Mozambique Flake, V Sedimentary DC OP MOD 46.1 Mt @ 6.6% Cg MINERALS) (general) BALAMA (NEW ENERGY Mozambique Flake, V Sedimentary PFS OP MOD 21.9 Mt @ 13.4% Cg MINERALS) (general) BALAMA CENTRAL Mozambique Flake, V Sedimentary PFS OP MOD 32.9 Mt @ 10.2% Cg (general) DOMBEYA Mozambique Flake, V Sedimentary AE OP MOD 56.1 Mt @ 7.03% Cg (general) BALAMA (SYRAH Mozambique Flake, V Sedimentary OM OP 1 SGIA 1147 Mt @ 12.09% Cg RESOURCES) (general) BALAMA (TRITON Mozambique Flake, V Sedimentary FS OP 2 SGIA 1563 Mt @ 10.65% Cg MINERALS) (general) MALONGA South Africa Amorphous Sedimentary CMO OP MOD 20 Mt @ 63.5% Cg (general) BUYU NORTH Tanzania Flake Sedimentary FS OP 3 MAJ 406 Mt @ 5.07% Cg (general) EPANKO Tanzania Flake, V Sedimentary FS OP 3 MAJ 290.8 Mt @ 7.20% Cg (general) MAHENGE Tanzania Flake Sedimentary FS OP 3 MAJ 212 Mt @ 7.8% Cg (general) NACHU Tanzania Flake Sedimentary FS OP 3 MAJ 174 Mt @ 5.4% Cg (general) 310 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BUYU SOUTH Tanzania Flake Sedimentary FS OP MOD 56 Mt @ 3.52% Cg (general) CHILALO Tanzania Flake Sedimentary FS OP MOD 25.1 Mt @ 6.012% Cg (general) LINDI JUMBO Tanzania Flake Sedimentary FS OP MOD 41.8 Mt @ 10.8% Cg (general) MAHENGE LIANDU Tanzania Flake Sedimentary FS OP MOD 59.5 Mt @ 9.81% Cg (general) MERELANI (GRAPHITE) Tanzania Flake, Sedimentary FS OP MOD 32.6 Mt @ 6.9% Cg Tanzanite (general) MERELANI-ARUSHA Tanzania Flake Sedimentary AE OP MOD 17.7 Mt @ 6.5% Cg (general) IRON ORE Number of Significant Deposits = 149 GARA DJEBILET Algeria Fe Sedimentary AE OP 3 GIA 1000 Mt @ 57% Fe (Hematite, Chamosite, Geothite) MECHERI ABDELAZIZ Algeria Fe Unknown UD OP 3 GIA 1350 Mt @ 50% Fe TEBESSA Algeria Fe Unknown OM OP UG 3 MAJ [est 100 to 500 million (Hematite) tonnes of Fe] AIN MOKRA Algeria Fe Unknown CMO UN MOD [est 10 to 100 million tonnes of Fe] CASSINGA Angola Fe Sedimentary CMO OP 3 MAJ 1040 Mt @ 30.96% Fe (general) CASSALA-QUITUGO Angola Fe, Mn Sedimentary UD OP MOD 292 Mt @ 30% Fe (Magnetite, Hematite) CATERUCA Angola Fe Sedimentary CMO OP 3 MOD [est 10 to 100 million (general) tonnes of Fe] SAIA Angola Fe Sedimentary CMO OP MOD [est 10 to 100 million (Hematite) tonnes of Fe] LOUMBOU-LOUMBOU Benin Fe Unknown Unknown OP MOD 250 Mt @ 48% Fe (Hematite) MADEKALI Benin Fe Sedimentary (BIF) AE OP MOD 240 Mt @ 46% Fe XAUDUM Botswana Fe Unknown AE UN 3 MAJ 441 Mt @ 29.4% Fe (Magnetite) MBALAM Cameroon Fe Sedimentary SP OP 2 GIA 4183.7 Mt @ 34.6% Fe (Itabirite) NKOUT Cameroon Fe Unknown SP OP 3 GIA 2728.5 Mt @ 31.81% Fe (Magnetite) NGOVAYANG Cameroon Fe, Au Unknown AE OP 3 MAJ 500 Mt @ 35% Fe (Magnetite) AKOM II Cameroon Fe Unknown PFS OP MOD 160 Mt @ 35% Fe (Magnetite) BIKOULA Cameroon Fe Unknown (BIF) AE OP MOD 46 Mt @ 44.2% Fe DJADOM Cameroon Fe Unknown AE OP MOD 111.5 Mt @ 30.05% Fe (Magnetite) APPENDICES | 311 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LES MAMELLES Cameroon Fe Sedimentary( UD OP MOD 300 Mt @ 32.5% Fe Magnetite) LOBE Cameroon Fe, P Unknown SP OP MOD 632.82 Mt @ 35% Fe (Magnetite) NTEM Cameroon Fe, Au Unknown PFS OP MOD 176.4 Mt @ 34.97% Fe (Magnetite) SANAGA Cameroon Fe Unknown SP OP MOD 82.9 Mt @ 32.1% Fe (Magnetite) TOPA Central African Fe Sedimentary SP OP 4 MAJ [est 100 to 500 million Republic (Hematite) tonnes of Fe] ASONGA Congo (DRC) Fe Unknown SP OP 3 MAJ [est 100 to 500 million (Hematite) tonnes of Fe] BOMOKANDI Congo (DRC) Fe Unknown SP OP MOD [est 10 to 100 million (Hematite) tonnes of Fe] AVIMA Congo Fe Unknown FS OP 3 GIA 1600 Mt @ 36% Fe (Republic of) (Itabirite) MBALAM-NABEBA Congo Fe Unknown FS OP 3 GIA 1714 Mt @ 34.1% Fe (Republic of) (Itabirite) ZANAGA Congo Fe Sedimentary FS OP 2 GIA 6900 Mt @ 32% Fe (Republic of) (Itabirite) BABONDO Congo Fe Sedimentary AE OP 3 MAJ [est 100 to 500 million (Republic of) (Hematite) tonnes of Fe] MAYOKO Congo Fe Unknown SP OP 3 MAJ 795 Mt @ 36% Fe (Republic of) (Hematite) MAYOKO-MOUSSONDJI Congo Fe Sedimentary( PFS OP 3 MAJ 917 Mt @ 31.4% Fe (Republic of) Magnetite) YOUKOU Congo Fe Unknown AE OP MOD [est 10 to 100 million (Republic of) (Itabirite) tonnes of Fe] KLAHOYO Cote d’Ivoire Fe Unknown UD OP 4 MAJ 1000 Mt @ 36.3% Fe (Magnetite) BONGLO Cote d’Ivoire Fe Unknown SP OP MOD [est 10 to 100 million (Magnetite) tonnes of Fe] MONOGAGA Cote d’Ivoire Fe Unknown (Oolitic) UD OP MOD 150 Mt @ 40% Fe MOUT GAO Cote d’Ivoire Fe Unknown UD OP MOD [est 10 to 100 million (Magnetite) tonnes of Fe] TIA Cote d’Ivoire Fe Unknown OM OP MOD 102 Mt @ 55% Fe TOTRO Cote d’Ivoire Fe Sedimentary (BIF) UD OP MOD 172 Mt @ 42.2% Fe BAHARIYA Egypt Fe Unknown OM OP 3 MAJ 772.27 Mt @ 52% Fe (Hematite) ASWAN Egypt Fe Sedimentary OM OP MOD 121 Mt @ 45% Fe (general) BELINGA Gabon Fe Sedimentary (BIF) FS OP 3 GIA 860 Mt @ 63% Fe BANIAKA Gabon Fe Sedimentary PFS OP MAJ 760.9 Mt @ 36.65% Fe (Detrital) BOKA BOKA Gabon Fe Unknown SP OP 3 MAJ 194 Mt @ 62% Fe BATOUALA Gabon Fe Sedimentary (BIF) SP OP MOD 117 Mt @ 66% Fe 312 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MEKAMBO-EST Gabon Fe Unknown SP OP MOD 42.92 Mt @ 32.8% Fe (Itabirite) MINKEBE Gabon Fe Sedimentary SP OP MOD 60 Mt @ 64% Fe (general) SHEINI HILLS Ghana Fe Unknown AE OP 3 MAJ 1312.3 Mt @ 33.79% Fe OPON MANSI Ghana Fe Unknown SP OP MOD 136.08 Mt @ 50% Fe NIMBA (BHP) Guinea Fe Sedimentary PFS OP 2 GIA 935 Mt @ 58% Fe (general) PIERRE RICHAUD Guinea Fe Sedimentary SP OP 2 GIA 463 Mt @ 65% Fe (general) SIMANDOU (BLOCKS Guinea Fe Sedimentary DC OP 1 GIA 1800 Mt @ 65.5% Fe 1 & 2) (general) SIMANDOU (BLOCKS Guinea Fe Sedimentary DC OP 1 GIA 2859 Mt @ 65.58% Fe 3 & 4) (general) NIMBA (SABLE) Guinea Fe Sedimentary PFS OP 3 MAJ 205.2 Mt @ 57.81% Fe (general) SIMANDOU SOUTH Guinea Fe Sedimentary PFS OP 3 MAJ [est 100 to 500 million (general) tonnes of Fe] BOULERE Guinea Fe Unknown PFS OP MOD 258 Mt @ 37.29% Fe FORECARIAH Guinea Fe Sedimentary CMO OP MOD 235.8 Mt @ 27.86% Fe (Hematite) KALIA 1 Guinea Fe Unknown (BIF) FS OP MOD 124.2 Mt @ 53.53% Fe KALIA 2 Guinea Fe Unknown AE OP MOD [est 10 to 100 million (Magnetite) tonnes of Fe] SIMANDOU NORTH Guinea Fe Sedimentary AE OP MOD [est 10 to 100 million (general) tonnes of Fe] BONG Liberia Fe Sedimentary OM OP 3 GIA 4182.5 Mt @ 35.87% Fe (general) LIBERIA MINES Liberia Fe Sedimentary OM OP 2 GIA 3445.9 Mt @ 37.31% Fe (Itabirite) PUTU RANGE Liberia Fe Sedimentary( SP OP 3 GIA 4400 Mt @ 34% Fe Magnetite) BEA MOUNTAIN Liberia Fe Sedimentary( AE OP 3 MAJ 600 Mt @ 40% Fe Magnetite) BOMI HILLS Liberia Fe Sedimentary CMO UN 3 MAJ 236.58 Mt @ 40.2% Fe (Itabirite) WESTERN RANGE Liberia Fe Unknown OM OP 3 MAJ 505 Mt @ 48.5% Fe WOLOGISI Liberia Fe Sedimentary UD OP 3 MAJ 1271 Mt @ 35% Fe (Itabirite) MANO RIVER Liberia Fe Sedimentary CMO OP MOD 260 Mt @ 51.73% Fe (Itabirite) MOFE CREEK Liberia Fe Unknown SP OP MOD 61.88 Mt @ 33% Fe (Magnetite) WADI ASH SHATTI Libya Fe Unknown AE OP 3 MAJ 795 Mt @ 51.7% Fe SOALALA Madagascar Fe Unknown SP OP 3 MAJ 360 Mt @ 35% Fe APPENDICES | 313 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BEKISOPA Madagascar Fe Orthomagmatic PFS OP MOD 124.04 Mt @ 36.69% Fe (Magnetite) MARALAMBO Madagascar Fe Unknown SP OP MOD 100 Mt @ 35% Fe BALE Mali Fe Sedimentary AE OP MOD 139 Mt @ 47.4% Fe (CID, Hematite) TIENFALA Mali Fe Unknown CM OP MOD 92.13 Mt @ 63.5% Fe GUELB EL AOUJ Mauritania Fe Sedimentary( PFS OP 3 GIA 4425 Mt @ 35.6% Fe Magnetite) LEBTHEINIA Mauritania Fe Sedimentary( AE OP 3 GIA 2740 Mt @ 31.92% Fe Magnetite) ASKAF Mauritania Fe Sedimentary( FS OP 3 MAJ 656 Mt @ 34.92% Fe Magnetite) EL AGAREB Mauritania Fe Sedimentary( SP OP 3 MAJ 1000 Mt @ 35% Fe Magnetite) GUELB EL RHEIN Mauritania Fe Sedimentary( OM OP 3 MAJ 664 Mt @ 37% Fe Magnetite) IDJIL KEDIA Mauritania Fe Sedimentary OM OP 2 MAJ 439.32 Mt @ 65% Fe (Hematite) M’HAOUDAT Mauritania Fe Sedimentary OM OP 3 MAJ 162.23 Mt @ 66% Fe (Hematite) LEGLEITAT (DSO) Mauritania Fe Sedimentary SP OP MOD 51.4 Mt @ 55.5% Fe (Hematite + Goethite) TAZADIT Mauritania Fe Sedimentary OM OP MOD [est 10 to 100 million (Hematite) tonnes of Fe] IRON QUEEN Morocco Fe Unknown OM OP MOD 50 Mt @ 56% Fe KETTARA Morocco Fe, S, Cu VHMS CMO OP MOD 30 Mt @ 55% Fe KHENIFRA Morocco Fe Unknown UD OP UG MOD 50 Mt @ 43% Fe (Goethite) KHOURIBGA Morocco Fe, S Sedimentary CMO UG MOD [est 10 to 100 million (general) tonnes of Fe] OUIXANE Morocco Fe Skarn CMO OP MOD 65 Mt @ 50% Fe TETE Mozambique Fe, V, Ti, Ni, PGE Unknown FS OP 3 MAJ 759.1 Mt @ 33.82% Fe (Magnetite) MONTE MUANDE Mozambique Fe, P2O5 Unknown SP OP MOD [est 10 to 100 million (IRON) (Magnetite) tonnes of Fe] CUNENE Namibia Fe Unknown AE OP 3 GIA 2370 Mt @ 23% Fe (Magnetite) HAMMERHEAD Namibia Fe Unknown SP OP 4 MAJ 692.8 Mt @ 23.74% Fe (Magnetite) ONGABA Namibia Fe Unknown UD OP MOD 130 Mt @ 37% Fe KOLLO Niger Fe Unknown UD OP MOD 200 Mt @ 41% Fe AGBAJA Nigeria Fe Unknown FS OP 3 MAJ 586.4 Mt @ 41.33% Fe ITAKPE Nigeria Fe Unknown FS UG 3 MAJ 310 Mt @ 36.5% Fe KOTONKARFE Nigeria Fe Unknown AE OP 3 MAJ 1098 Mt @ 43% Fe 314 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource AGBADO-OKUDO Nigeria Fe Unknown AE OP MOD 60 Mt @ 30% Fe BASSA NGE Nigeria Fe Unknown AE UN MOD 82.5 Mt @ 43% Fe OSHOKOSHOKO Nigeria Fe Unknown AE OP MOD 82.5 Mt @ 43% Fe FALEME Senegal Fe Skarn FS OP 3 MAJ [est 100 to 500 million (Magnetite) tonnes of Fe] TONKOLILI Sierra Leone Fe Unknown CM OP 3 GIA 12799.22 Mt @ 31.3% Fe (Magnetite) BAGLA HILLS Sierra Leone Fe Unknown SP OP 4 MAJ 838 Mt @ 32% Fe (Magnetite) FERENSOLA Sierra Leone Fe, Au, Nb, Ta Unknown AE OP 3 MAJ 514.5 Mt @ 31.84% Fe (Magnetite) MARAMPA (HEMATITE) Sierra Leone Fe Unknown PFS OP 3 MAJ 680 Mt @ 28.21% Fe (Hematite) MARAMPA Sierra Leone Fe Unknown OM OP 3 MAJ 1062.04 Mt @ 31.26% Fe (MAGNETITE) (Magnetite) MARAMPA (OLD) Sierra Leone Fe Unknown CMO OP MOD 100 Mt @ 64% Fe TONKOLILI (OLD) Sierra Leone Fe Iron ore (BIF, CM OP 1 MOD 100 Mt @ 56% Fe Hematite) BUR GALAN Somalia Fe Unknown UD OP MOD 394 Mt @ 38.7% Fe (Magnetite) QADIA Somalia Fe Skarn UD UN MOD [est 10 to 100 million tonnes of Fe] SISHEN South Africa Fe Sedimentary OM OP 1 GIA 2402.08 Mt @ 54.87% (general) Fe VEREMO South Africa Fe, Ti, V Unknown FS OP 3 GIA 612.05 Mt @ 58.19% Fe (Magnetite) BEESHOEK South Africa Fe Sedimentary OM OP 3 MAJ 256.61 Mt @ 62.71% Fe (general) BUSHVELD South Africa Fe, P2O5, Ti, V Unknown PFS OP 3 MAJ 1223.36 Mt @ 31.42% Fe (Magnetite) ELANDSFONTEIN South Africa Fe, Au, Iron Ore (Other) UN UN 4 MAJ [est 100 to 500 million Diamonds tonnes of Fe] KHUMANI South Africa Fe Unknown OM OP 3 MAJ 765.65 Mt @ 62.5% Fe (Hematite) KOLOMELA South Africa Fe Unknown OM OP 3 MAJ 409.32 Mt @ 63.32% Fe MOKANENG South Africa Fe Sedimentary OM OP 3 MAJ [est 100 to 500 million (general) tonnes of Fe] POSTMASBURG South Africa Fe Sedimentary UD OP 4 MAJ [est 100 to 500 million (general) tonnes of Fe] THABAZIMBI ISCOR South Africa Fe Sedimentary OM OP 3 MAJ 27.6 Mt @ 62.6% Fe (general) ZANDRIVIERSPOORT South Africa Fe Sedimentary UD OP 3 MAJ 419.1 Mt @ 35.4% Fe (general) MALELANE South Africa Fe Unknown PFS OP MOD 138.9 Mt @ 36.9% Fe MELETSE South Africa Fe Unknown PFS OP MOD 80.8 Mt @ 61.1% Fe APPENDICES | 315 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MOONLIGHT South Africa Fe Unknown FS OP MOD 307.7 Mt @ 26.89% Fe (Magnetite) NONNENWORTH South Africa Fe, Ti, V Unknown FS OP MOD 80.44 Mt @ 39.8% Fe (Magnetite) PHOENIX South Africa Fe Unknown CMO OP MOD [est 10 to 100 million tonnes of Fe] THABAZIMBI South Africa Fe Unknown PFS OP MOD 80.8 Mt @ 61.1% Fe (PROJECT) VANMAG South Africa Fe Unknown FS UN MOD [est 10 to 100 million (Magnetite) tonnes of Fe] GAAB Sudan Fe Unknown UD OP 3 GIA 15000 Mt @ 45% Fe BAGRAWIYA Sudan Fe Unknown (Oolitic) UD OP 4 MAJ 1351 Mt @ 30% Fe BAYODA Sudan Fe Unknown (Oolitic) P OP 4 MAJ 2343 Mt @ 30% Fe WADI HALFA Sudan Fe Iron Ore (BIF, SP OP 3 MAJ 400 Mt @ 36% Fe Goethite, Hematite) ABU TULU Sudan Fe, Au Iron Ore (BIF) UD OP MOD 80 Mt @ 60% Fe GRAB DE HEIT Sudan Fe Iron Ore (BIF) UD OP MOD 75 Mt @ 37.5% Fe KARORA Sudan Fe Unknown UD OP MOD 32 Mt @ 43% Fe (Hematite) UNNAMED DEPOSIT Sudan Fe Unknown (Oolitic) UD OP MOD 100 Mt @ 34% Fe UNNAMED DEPOSIT Sudan Fe Unknown (Oolitic) UD OP MOD 60 Mt @ 36% Fe PIGG’S PEAK Swaziland Fe Unknown UD OP 3 MAJ 293.55 Mt @ 35% Fe (Taconite) GEGE Swaziland Fe Unknown UD OP MOD 50 Mt @ 30% Fe (Taconite) MALOMA Swaziland Fe Unknown UD OP MOD 100 Mt @ 30% Fe (Taconite) NGWENYA MINE Swaziland Fe Iron ore (BIF) CMO OP MOD [est 10 to 100 million tonnes of Fe] LIGANGA Tanzania Fe, TiO2, V Orthomagmatic UD OP 4 MAJ 1500 Mt @ 25% Fe (Magnetite) CHUNYA Tanzania Fe Unknown CMO UG MOD 50 Mt @ 32% Fe DJERISSA IRON ORE Tunisia Fe Unknown OM UG MOD [est 10 to 100 million MINE tonnes of Fe] MUKO Uganda Fe Unknown AE OP MOD 30 Mt @ 61% Fe (Hematite) SUKULU Uganda Fe, Ti, V Unknown AE OP MOD 45 Mt @ 62% Fe (Magnetite) KASEMPA Zambia Fe Unknown AE OP 3 MAJ 229 Mt @ 66% Fe LUBUNGU Zambia Fe Unknown AE OP MOD 175 Mt @ 56% Fe NAMBALA Zambia Fe Unknown SP OP MOD [est 10 to 100 million (Hematite) tonnes of Fe] KWEKWE DISTRICT Zimbabwe Fe, Au, Ag, Zn, Iron Ore (Other) UN UN 4 MOD [est 10 to 100 million Pb, W tonnes of Fe] 316 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LEAD Number of Significant Deposits = 7 OUED EL KEBIR Algeria Pb, Zn, Ag, Cu, VHMS AE UN MOD 11.5 Mt @ 2.6% Pb + 2.1% Au, Baryte Zn + 0.7% Cu + 95g/t Ag BEDDIANNE Morocco Pb, Ag, Zn, Cu Sed Hosted CMO UG MOD 6.69 Mt @ 16.59% Pb Stratiform, MVT + 600g/t Ag + 1% Zn + 0.8% Cu MEKTA Morocco Pb, Ag, Zn Sed Hosted CMO UG MOD 2 Mt @ 13% Pb + 250g/t Stratiform, MVT Ag + 1% Zn ZEIDA Morocco Pb, Barite Sed Hosted CMO UG MOD 24 Mt @ 3.33% Pb Stratiform, MVT TSONGOARI Namibia Pb, Zn, Ag, Cu Sed Hosted UD OP UG MOD 5.8 Mt @ 6.4% Pb + Stratiform, SEDEX 47g/t Ag + 0.8% Zn + 0.4% Cu BLACK MOUNTAIN South Africa Pb, Zn, Cu, Ag Sed Hosted OM UG 3 MAJ 430 Mt @ 2.01% Pb + Stratiform, SEDEX 1.87% Zn + 0.22% Cu + 32g/t Ag BROKEN HILL OF Zambia Pb, Zn Replacement/ CMO OP UG 3 MAJ [est 3 to 15 Mt of Lead] ZAMBIA Mantos LITHIUM Number of Significant Deposits = 17 BUCKELL Congo (DRC) Li, Sn, Ta Pegmatite PFS TA MOD 12.1 Mt @ 0.28% Li MANONO-KITOTOLO Congo (DRC) Li, Nb, Ta, Sn Pegmatite FS OP 1 SGIA 674 Mt @ 0.77% Li (LITHIUM) EWOYAA Ghana Li Pegmatite PFS OP 3 MOD 35.3 Mt @ 0.58% Li GOULAMINA Mali Li, Fe Pegmatite DC OP 2 GIA 211 Mt @ 0.64% Li BOUGOUN Mali Li, Au Pegmatite FS OP 3 MOD 32 Mt @ 0.49% Li UIS (LITHIUM Namibia Li, Sn, Ta Pegmatite AE OP 3 MAJ 143 Mt @ 0.15% Li COMPONENT) BITTERWASSER Namibia Li, K Lithium-rich Clay AE OP MOD 98.9 Mt @ 0.06% Li + 1.56% K2O KARIBIB Namibia Li, Rb, Cs, Ta, K Pegmatite DC OP MOD 13.6 Mt @ 0.2% Li + 1.92% K2O OMARURU Namibia Li, Ta, Cs Pegmatite AE OP MOD [est 20 to 200 thousand tonnes Lithium] RUBICON AND Namibia Li, Ta, REE, Nb, Pegmatite OM OP UG MOD 12 Mt @ 0.22% Li + 1.85% HELIKON Be, Cs, Beryl, K2O Quartz, Bi LOCATION 6 Nigeria Li, Ta, Cs Pegmatite AE OP MOD [est 20 to 200 thousand tonnes Lithium] TITAN (LITHIUM) - Nigeria Li Pegmatite OM OP MOD [est 20 to 200 thousand ARTISINAL WORKINGS tonnes Lithium] ARCADIA Zimbabwe Li, Ta Pegmatite FS OP 2 MAJ 72.7 Mt @ 0.5% Li BIKITA Zimbabwe Li, Ta, Sn, Cs Pegmatite OM OP 3 MAJ 152 Mt @ 0.42% Li KAMATIVI Zimbabwe Li, Sn, Ta Pegmatite PP TA MOD 18.2 Mt @ 0.58% Li STEP ASIDE Zimbabwe Li, Ta Pegmatite AE OP MOD [est 20 to 200 thousand tonnes Lithium] APPENDICES | 317 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ZULU Zimbabwe Li, Ta, Nb, W Pegmatite DC OP MOD 24.8 Mt @ 0.21% Li MANGANESE Number of Significant Deposits = 30 KGWAKGWE Botswana Mn, As Unknown FS OP 3 MAJ 14.83 Mt @ 11.75% Mn TAMBAO Burkina Faso Mn Sedimentary SP OP 3 MAJ 19 Mt @ 52% Mn KISENGE Congo (DRC) Mn Sedimentary CMO OP MOD [est 2 to 20 million tonnes of Manganese] MOANDA Gabon Mn Sedimentary OM OP 1 GIA 582 Mt @ 34.5% Mn (general) BEMBELE Gabon Mn Sedimentary OM OP 3 MAJ 41.7 Mt @ 33.44% Mn (general) FRANCEVILLE Gabon Mn Sedimentary OM OP 3 MAJ 42.7 Mt @ 31.75% Mn (general) NSUTA (CARBONATE) Ghana Mn Sedimentary OM OP 3 MAJ 128 Mt @ 26.85% Mn NSUTA (OXIDE) Ghana Mn Sedimentary CMO OP MOD 13 Mt @ 45% Mn BOU ARFA Morocco Mn Sedimentary OM OP MOD [est 2 to 20 million tonnes of Manganese] IMINI Morocco Mn, Ba Sedimentary OM UG MOD [est 2 to 20 million tonnes of Manganese] OTJOSONDU Namibia Mn, Fe Sedimentary OM OP UG MOD 9.66 Mt @ 35% Mn (general) KUDUMANE South Africa Mn, Fe Sedimentary OM OP UG 2 GIA [est 100 to 500 million (general) tonnes of Manganese] MAMATWAN South Africa Mn, Fe Sedimentary OM OP UG 1 GIA 400 Mt @ 35% Mn (general) NCHWANENG South Africa Mn, Fe Sedimentary OM OP UG 1 GIA 841 Mt @ 38.76% Mn (general) TSHIPI BORWA South Africa Mn, Fe Sedimentary OM OP 2 GIA 446 Mt @ 33.39% Mn (general) AVONTUUR South Africa Mn, Fe Sedimentary FS OP 4 MAJ 162 Mt @ 38.57% Mn (general) GLORIA South Africa Mn, Fe Sedimentary OM UG 3 MAJ [est 20 to 100 million (general) tonnes of Manganese] KALAGADI South Africa Mn, Fe Sedimentary DC UG 3 MAJ 102 Mt @ 38% Mn (general) KONGONI South Africa Mn, Fe Sedimentary SP UG 3 MAJ 147 Mt @ 35.7% Mn (general) LOHATHLA MINE South Africa Mn, Fe Sedimentary OM OP 3 MAJ [est 20 to 100 million (general) tonnes of Manganese] MIDDELPLAATS South Africa Mn, Fe Sedimentary CMO UG 3 MAJ 85 Mt @ 35% Mn (MANGANESE) (general) UMK South Africa Mn, Fe Sedimentary OM OP 3 MAJ 282 Mt @ 35% Mn (general) WESSELS South Africa Mn, Fe Sedimentary OM UG 2 MAJ 70 Mt @ 45% Mn (general) BISHOP South Africa Mn, Fe Sedimentary CMO OP UG MOD [est 2 to 20 million (general) tonnes of Manganese] 318 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BLACK ROCK South Africa Mn, Fe Sedimentary CMO OP UG MOD [est 2 to 20 million (general) tonnes of Manganese] GLOUCESTER South Africa Mn, Fe Sedimentary CMO OP UG MOD [est 2 to 20 million (general) tonnes of Manganese] LANGDON ANNEX South Africa Mn, Fe Sedimentary CMO UG MOD [est 2 to 20 million (general) tonnes of Manganese] LOMOTENG South Africa Mn, Fe Sedimentary OM OP MOD 51.2 Mt @ 34% Mn (general) MOKALA South Africa Mn, Fe Sedimentary FS OP 3 MOD 48.1 Mt @ 36.8% Mn (general) PERTH South Africa Mn, Fe Sedimentary OM OP UG MOD 9.05 Mt @ 35% Mn (general) MERCURY Number of Significant Deposits = 1 RAS EL MA Morocco Hg Unknown CMO UG MOD [est 0.1 to 1 million flasks of Mercury] MINERAL SANDS Number of Significant Deposits = 34 (Including Rutile and Zircon) ABU GHALAGA Egypt TiO2, Fe Igneous CMO OP 4 MAJ 40 Mt @ 39% ilmenite LAKE BURULLUS Egypt Ti, REE, Th Placer, Shoreline OM DR MOD 239 Mt @ 3.39% HM + 193 ppm REO KILIFI Kenya Ti, Zr Placer, Shoreline SP OP 3 MAJ 2113 Mt @ 2.70% HM KWALE Kenya Ti, Zr Placer, Shoreline OM OP MOD 4.8 Mt Ilmenite + 0.9Mt Rutile MAMBRUI Kenya Ti, Zr Placer, Shoreline SP OP MOD 749 Mt @ 3.66% HM VIPINGO Kenya Ti, Zr Placer, Shoreline AE OP MOD 500 Mt @ 1.40% HM MANDENA Madagascar Ti, Zr, REE, Th Placer, Shoreline OM OP 2 GIA 1909 Mt @ 3.95% Ilmenite + 0.19% Zircon FORT DAUPHINE Madagascar Ti, Zr, REE, Th Placer, Shoreline CMO OP 3 MAJ 60 Mt @ 1.49% Monazite TOLIARA Madagascar HMS, Ilmenite, Placer, Allivial FS PL 3 MAJ 1293 Mt @ 5.10% HM Zr CORRIDOR SANDS Mozambique Ilmenite, HMS, Placer, Allivial PFS OP 3 GIA 2394 Mt @ 5.02% HM TiO2, REE MOEBASE Mozambique Ti, Zr, REE, Th Placer, Shoreline SP OP 3 GIA 2021 Mt @ 3.55% HM MOMA Mozambique Ti, Zr, REE, Th Placer, Shoreline OM DR 2 GIA 8967 Mt @ 2.71% HM KOKO MASSAVA Mozambique Ilmenite, HMS, Placer, Allivial AE OP 3 MAJ 1423 Mt @ 5.20% HM TiO2, REE MUTAMBA Mozambique Ti, Zr, REE, Th Placer, Shoreline PFS OP 3 MAJ 4345 Mt @ 3.85% HM ANGOCHE Mozambique Ti, Zr, REE, Th Placer, Shoreline OM DR MOD 124 Mt @ 4.0% HM CONGOLONE Mozambique Ti, Zr, REE, Th Placer, Shoreline UD DR MOD 167 Mt @ 3.30% HM QUELEMANE Mozambique Ti, Zr, REE, Th Placer, Shoreline OM DR MOD 520 Mt @ 4.50% HM TOSCANINI Namibia Ti, REE, Th Placer, Shoreline P DR MOD [est 50 to 50 million tonnes of HM] APPENDICES | 319 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource GRANDE COTE Senegal HMS, Zr, TiO2, Placer, Allivial OM PL 2 MAJ 4283 Mt @ 1.20% HM Ilmenite SIERRA RUTILE Sierra Leone TiO2, HMS, Zr Placer, Allivial OM PL 1 GIA 6.91 Mt Rutile + 4.4 Mt Ilmenite + 0.70 Mt Zircon ROTIFUN Sierra Leone HMS, Zr, TiO2, Industrial SP PL 3 MAJ 370 Mt @ 0.49% Rutile Rutile, Ilmenite Minerals SEMBEHUN Sierra Leone TiO2, HMS, Zr Placer, Allivial FS PL 2 MAJ 508 Mt @ 3.3% HM GBAP Sierra Leone TiO2, HMS, Zr Placer, Allivial AE PL MOD 62 Mt @ 3.5% HM RICHARDS BAY South Africa Ti, REE, Th Placer, Shoreline OM DR 1 GIA [>700 million tonnes of HM] NAMAKWA South Africa HMS, Ilmenite, Placer, Allivial OM PL 2 MAJ 972 Mt @ 6.10% HM Zr FAIRBREEZE South Africa Ilmenite, Zr, Placer, Allivial OM PL MOD 295 Mt @ 4.8% HM HMS HILLANDALE South Africa Ilmenite, Zr, Placer, Allivial UD PL MOD [est 50 to 50 million HMS tonnes of HM] PORT DURNFORD South Africa Ti, Zr Placer, Shoreline PFS DR MOD 985 Mt @ 2.68% HM TORMIN South Africa Ti, Zr, Garnet Placer, Allivial OM PL MOD 283 Mt @ 10.84% HM AKONOLINGA Cameroon TiO2, Zr (Rutile) Placer, Allivial SP AL 4 MAJ 163 Mt @ 1.15% Rutile EDEA-KRIBI Cameroon TiO2, Zr (Rutile) Placer, Allivial SP AL MOD [est 0.1 to 1 million tonnes of Rutile] KASIYA Malawi TiO2 (Rutile) Placer, Allivial PFS OP 1 GIA 1809 Mt @ 1.00% Rutile , C_graphite + 1.4% Cg (graphite) TANTALUS Madagascar Zr, Ta, Nb, REE, Alkalic Igneous AE OP 3 MAJ [est 50 to 250 Mt of U3O8 Heavy Minerals] TANGA Tanzania Zr (Zircon), Ti Placer, Shoreline PFS OP MOD 268 Mt @ 3.30% HM (including 0.13% Zircon) NICKEL Number of Significant Deposits = 48 SELEBI-PHIKWE CAMP Botswana Ni, Cu, Co Low-MgO OM OP UG 3 GIA 180 Mt @ 0.71% Ni + Association NiS 0.73% Cu PHOENIX Botswana Ni, Cu, PGE, Co Low-MgO CMO OP 3 MAJ 220 Mt @ 0.26% Ni + Association NiS 0.19% Cu + 0.24g/t PGE DIKOLOTI Botswana Ni, Cu, PGE Low-MgO SP OP UG MOD 4.1 Mt @ 0.7% Ni + Association NiS 0.5% Cu + 1.2g/t PGE + 0.1% Co LENTSWE Botswana Ni, Cu, PGE Low-MgO AE UN MOD 1.5 Mt @ 0.7% Ni + Association NiS 0.4% Cu MAGOGAPHATE Botswana Ni, Cu, PGE, Au High-MgO AE OP MOD 2.38 Mt @ 0.72% Ni + (NICKEL) Association NiS 0.21% Cu + 0.53g/t PGE + 0.1g/t Au SELKIRK Botswana Ni, Cu, Co Orthomagmatic CMO UG MOD 0.99 Mt @ 2.6% Ni + 1.64% Cu TULI Botswana Ni, Cu, PGE Low-MgO SP OP MOD 5 Mt @ 0.42% Ni Association NiS BONGA Burkina Faso Ni, Co, Fe Laterite UD OP 4 MAJ 17 Mt @ 1.5% Ni + Associated 0.15% Co 320 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MUSONGATI Burundi Ni, Cu, Co Laterite SP OP 2 GIA 214 Mt @ 1.35% Ni + Associated 0.07% Co + 0.15% Cu NYABIKERE Burundi Ni, Fe Laterite SP OP 4 MAJ 46 Mt @ 1.45% Ni Associated WAGA Burundi Ni, Fe Laterite SP OP 4 MAJ 35 Mt @ 1.38% Ni Associated SIPILOU NI CAMP Cote d’Ivoire Ni, Co Laterite AE OP 2 GIA 258 Mt @ 1.48% Ni + Associated 0.11% Co SAMAPLEU Cote d’Ivoire Ni, Cu, Co, Low-MgO PFS OP 3 MAJ 121 Mt @ 0.28% Ni + PGE.Au Association NiS 0.02% Co + 0.23% Cu + 0.38g/t PGE SAMAPLEU (OLD) Cote d’Ivoire Ni, Cu, Co, PGE Low-MgO AE OP MOD 2.56 Mt @ 0.51% Ni + Association NiS 1.6% Cu ADOLA Ethiopia Ni Laterite UD OP 4 MAJ 10.5 Mt @ 1.38% Ni Associated GOGOTA Guinea Ni, Co, Sc, Fe Laterite AE OP 3 MAJ 44.9 Mt @ 1.28% Ni + Associated 0.13% Co KAKOULIMA Guinea Ni, Cu, Co, Laterite SP OP 4 MAJ 36.8 Mt @ 0.8% Ni (LATERITE) Pd, Pt Associated KALIA (NICKEL) Guinea Ni, Co, Fe Laterite SP OP 4 MAJ 79.3 Mt @ 0.69% Ni + Associated 0.04% Co AMBATOVY Madagascar Ni, Co Laterite OM OP 2 GIA 282 Mt @ 0.92% Ni + Associated 0.08% Co VALOZORO Madagascar Ni, Co Laterite AE OP 3 MAJ 11.5 Mt @ 1.66% Ni Associated BEMAINTY Madagascar Ni, Co Laterite UD OP MOD [est 10 to 100 thousand Associated tonnes of Nickel] NICKEL VALLEY Madagascar Ni, Co, Cr Laterite SP OP 4 MOD [est 10 to 100 thousand Associated tonnes of Nickel] AKJOUJT SOUTH Mauritania Ni, Cu, Co Mafic Intrusion AE OP MOD [est 10 to 100 thousand Hosted tonnes of Nickel] NKOMATI NI CAMP South Africa Ni, Cu, Cr, Co, Low-MgO OM OP UG 2 GIA 298 Mt @ 0.36% Ni + Pd, Pt, PGE, Association NiS 0.02% Co + 0.14% Cu + Au, Ag 0.85g/t PGE ZEBEDIELA South Africa Ni, Cu, PGE, Fe Mafic Intrusion PFS OP 4 GIA 1601 Mt @ 0.25% Ni Hosted ROK OPTEL South Africa Ni, Cu, PGE, Co Low-MgO SP OP 4 MAJ 35 Mt @ 0.3% Ni + Association NiS 0.2% Cu HONDEKLOOF South Africa Ni, Cu, Co Orthomagmatic AE OP MOD 2 Mt @ 0.71% Ni + 0.2% Cu + 0.04% Co JACOMYNS PAN South Africa Ni, Cu, PGE, Co Low-MgO AE OP UG MOD 6.84 Mt @ 0.58% Ni + Association NiS 0.34% Cu + 0.31g/t PGE + 0.03% Co DUTWA Tanzania Ni, Co Laterite SP OP 3 GIA 117 Mt @ 0.91% Ni + Associated 0.03% Co KABANGA NI CAMP Tanzania Ni, Cu, Co, Pt, Low-MgO FS OP UG 2 GIA 61.3 Mt @ 2.08% Ni + Pd, Au, Ag Association NiS 0.16% Co + 0.29% Cu APPENDICES | 321 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MIBANGO Tanzania Ni, Co, Cu, Mafic Intrusion AE OP 3 GIA 112 Mt @ 0.82% Ni + PGE, Fe Hosted 0.05% Co + 0.1% Cu KABANGA MAIN Tanzania Ni, Cu, Co, Au, Low-MgO FS OP 3 MAJ 9.3 Mt @ 1.22% Ni + 0.2% Pt, Pd, Ag Association NiS Cu + 0.11% Co NTAKA HILL Tanzania Ni, Cu, Co, Au, High-MgO PFS OP 3 MAJ 56.3 Mt @ 0.63% Ni + Pt, Pd, Ag Association NiS 0.02% Co + 0.11% Cu ZANZUI Tanzania Ni, Cu, Co, PGE Laterite SP UG 4 MAJ 27.1 Mt @ 0.81% Ni + Associated 0.06% Co HAITO Togo Ni, Co Laterite AE OP MOD 7.2 Mt @ 0.99% Ni Associated KITGUM-PADER Uganda Ni, Cu, Co Low-MgO AE OP UG MOD [est 10 to 100 thousand Association NiS tonnes of Nickel] MUNALI Zambia Ni, Co, Cu, Pt, Low-MgO CMO UG 3 MAJ 8.47 Mt @ 0.97% Ni + Pd, Au, PGE, Ag Association NiS 0.18% Cu + 2.17g/t PGE + 0.07% Co SENTINEL (NICKEL) Zambia Ni, Co, Cu Sed Hosted FS OP 3 MAJ 46.8 Mt @ 0.96% Ni Stratiform KALUMBILA (NICKEL) Zambia Ni, Co, Cu Sed Hosted UD OP MOD 3.04 Mt @ 0.67% Ni + Stratiform 0.1% Cu + 0.2% Co MITABA SERPENTINITE Zambia Ni Ophiolite- AE OP MOD [est 10 to 100 thousand associated high tonnes of Nickel] MgO NiS EMPRESS Zimbabwe Ni, Cu, Au, Co, Orthomagmatic CMO UG 3 MAJ 18.9 Mt @ 0.59% Ni + PGE 0.21% Cu HUNTERS ROAD Zimbabwe Ni High-MgO SP OP 3 MAJ 36.4 Mt @ 0.55% Ni Association NiS SHANGANI Zimbabwe Ni, Co, Cu High-MgO CMO OP UG 3 MAJ 47.1 Mt @ 0.59% Ni Association NiS TROJAN Zimbabwe Ni, Co, Cu, Au High-MgO OM UG 3 MAJ 40.1 Mt @ 0.87% Ni Association NiS AMMS DEPOSIT Zimbabwe Ni, Cu Orthomagmatic CMO UG MOD 6.8 Mt @ 0.67% Ni DAMBA Zimbabwe Ni High-MgO UD UG MOD 7.5 Mt @ 1% Ni Association NiS EPOCH Zimbabwe Ni, Co, Cu High-MgO CMO UG MOD 2.47 Mt @ 0.95% Ni Association NiS NICKEL HILL Zimbabwe Ni High-MgO SP OP MOD 6 Mt @ 0.6% Ni Association NiS NIOBIUM Number of Significant Deposits = 7 CONRUS Congo (DRC) Nb, Ta, P Carbonatite CMO OP UG MOD [0.1 to 1 million tonnes of Nb2O5] MABOUNIE Gabon Nb, REE, P, U Carbonatite PFS OP 4 GIA 145.8 Mt @ 0.83% with residual Nb2O5 + 1.01% REO + enrichment 250 g/t Ta2O5 + 0.2 kg U3O8/t MRIMA HILL Kenya Nb, REE Carbonatite SP OP 3 GIA 302 Mt @ 333 g/t with residual Nb205 + 2.04% REO enrichment 322 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource KANYIKA Malawi Nb, Ta, REE, Carbonatite FS OP MOD 68.3 Mt 0.28% Nb2O5 U3O8 + 9.014% Ta2O5 + 0.08 kg/t U3O8 DRAG AND EL FARNANE Morocco Nb, Ta, U, REE Carbonatite AE OP MOD 47 Mt @ 0.2% Nb2O5 + 280 g/t Ta2O5 + 0.24 kg/t U3O8 + 0,23% of REO GLIBAT LAFHOUDA Morocco Nb, Ta, U, REE Carbonatite AE OP MOD 49 Mt @ 0.4% Nb2O5 + 265 g/t Ta2O5 + 0.508 kg/t U3O8 + 0.2% REO + 35% Fe PANDA HILL Tanzania Nb Carbonatite OP 3 MAJ 192 Mt @ 1.2 % Nb2O5 + 1.0% REE PGE Number of Significant Deposits = 55 YUBDO (HR) Ethiopia Pt, Au Mafic Intrusion CMO PL MOD [est 0.2 to 2 million Hosted (non-NiS ounces of PGE] dominant) AKANANI South Africa PGE, Au, Ni, Cu Mafic Intrusion SP UG 3 GIA 397 Mt @ 3.9g/t PGE Hosted (non-NiS dominant) BAUBA South Africa PGE, Pd, Pt, Mafic Intrusion AE UG 3 GIA 121 Mt @ 4.36g/t PGE Rh, Au Hosted (non-NiS dominant) BOOYSENDAL South Africa PGE, Au Mafic Intrusion OM UG 2 GIA 848 Mt @ 3.81g/t PGE Hosted (non-NiS dominant) CROCODILE RIVER South Africa PGE, Pt, Pd, Mafic Intrusion CMO OP UG 4 GIA 33.3 Mt @ 0.05% Ni + Ni, Rh, Ru, Cu, Hosted (non-NiS 2.73g/t PGE + 0.02% Cu Au, Co dominant) DE WILDT South Africa PGE, Pt, Pd, Au Mafic Intrusion FS UG 3 GIA 16.2 Mt @ 2.33g/t PGE Hosted (non-NiS dominant) ELAND South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM UG 3 GIA 170 Mt @ 2.92g/t PGE Cu, Co Hosted (non-NiS dominant) GA-PHASHA PLATINUM South Africa PGE, Pd, Pt, Rh, Mafic Intrusion AE UG 2 GIA 459 Mt @ 5.45g/t PGE PROJECT Ni, Cu, Au Hosted (non-NiS + 0.19% Ni + 0.06% Cu + dominant) 0.2g/t Au KALPLATS South Africa PGE, Pt, Pd, Au Mafic Intrusion FS OP 3 GIA 137 Mt @ 1.52g/t PGE Hosted (non-NiS dominant) KROONDAL South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM UG 3 GIA 164 Mt @ 3.23g/t PGE Cu, Co Hosted (non-NiS + 0.03g/t Au + 0% Ni + dominant) 0.01% Cu LEEUWKOP South Africa PGE, Pt, Pd, Au, Mafic Intrusion SP UG 3 GIA 137 Mt @ 6.48g/t PGE Ni, Cu Hosted (non-NiS + 0.03% Ni + 0.01% Cu + dominant) 0.03g/t Au LESEGO South Africa PGE, Ni, Cu Mafic Intrusion FS UG 3 GIA 204 Mt @ 5.95g/t PGE Hosted (non-NiS + 0.21% Ni + 0.09% Cu dominant) APPENDICES | 323 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource LIMPOPO South Africa PGE, Pt, Pd, Au, Mafic Intrusion CMO UG 4 GIA 207 Mt @ 4.02g/t PGE Cu, Ni, Co Hosted (non-NiS + 0.3g/t Au + 0% Ni + dominant) 0.15% Cu MARULA South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM UG 3 GIA 148 Mt @ 5.37g/t PGE Cu, Co Hosted (non-NiS + 0.09% Ni + 0.05% Cu + dominant) 0.18g/t Au MODIKWA South Africa PGE, Pt, Pd, Rh, Mafic Intrusion OM UG 2 GIA 508 Mt @ 4.62g/t PGE Au, Ni, Cu Hosted (non-NiS + 0.12g/t Au + 0% Ni + dominant) 0.04% Cu MOOIPLATS South Africa PGE, Pt, Pd, Au Mafic Intrusion AE UG 3 GIA 60.9 Mt @ 5.41g/t PGE Hosted (non-NiS dominant) PHOSIRI PROJECT South Africa PGE, Ni, Cu, Au Mafic Intrusion SP UG 4 GIA 105 Mt @ 7.27g/t PGE + Hosted (non-NiS 0.16% Ni + 0.1% Cu dominant) PILANESBERG South Africa PGE, Pt, Au, Mafic Intrusion OM OP 2 GIA 435 Mt @ 3.02g/t PGE Ni, Cu Hosted (non-NiS + 0.03% Ni + 0.01% Cu + dominant) 0.05g/t Au RUSTENBURG-IMPALA South Africa PGE, Ni, Co Mafic Intrusion OM UG 1 GIA [est 12 to 120 million SECTOR Hosted (non-NiS ounces of PGE] dominant) SEDIBELO South Africa PGE, Au Mafic Intrusion PFS UG 3 GIA 128 Mt @ 5.67g/t PGE + Hosted (non-NiS 0.1g/t Au dominant) SHEBAS RIDGE South Africa PGE, Pt, Pd, Rh, Orthomagmatic UD OP 3 GIA 605 Mt @ 0.93g/t PGE Au, Ni, Cu + 0.19% Ni + 0.08% Cu + 0.08g/t Au THARISA South Africa PGE, Cr Mafic Intrusion OM OP UG 2 GIA 900 Mt @ 1.12g/t PGE Hosted (non-NiS dominant) TWICKENHAM South Africa PGE, Pt, Pd, Ni, Mafic Intrusion CMO UG 3 GIA 642 Mt @ 5.59g/t PGE Cu, Co Hosted (non-NiS + 0.13g/t Au + 0% Ni + dominant) 0.01% Cu TWO RIVERS South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM UG 2 GIA 393 Mt @ 4.47g/t PGE Cu, Co Hosted (non-NiS + 0.09% Ni + 0.04% Cu + dominant) 0.13g/t Au UNION SECTION South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM UG 3 GIA 373 Mt @ 4.66g/t PGE Cu, Co Hosted (non-NiS + 0.05g/t Au + 0% Ni + dominant) 0.02% Cu WATERBERG South Africa PGE, Au, Ni, Cu Mafic Intrusion FS UG 2 GIA 309 Mt @ 3.1g/t PGE Hosted (non-NiS + 0.18% Ni + 0.1% Cu + dominant) 0.24g/t Au ZONDERNAAM South Africa PGE Mafic Intrusion AE UG 3 GIA 77.4 Mt @ 6.39g/t PGE Hosted (non-NiS dominant) AURORA South Africa PGE, Cu, Ni, Au Mafic Intrusion AE UG 3 MAJ 154 Mt @ 1.36g/t PGE Hosted (non-NiS + 0.04% Ni + 0.05% Cu + dominant) 0.04g/t Au BLUE RIDGE South Africa PGE, Pt, Pd, Mafic Intrusion CMO UG 4 MAJ 33.5 Mt @ 3.11g/t PGE Rh, Au Hosted (non-NiS dominant) 324 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource BOIKGANTSHO South Africa Pt, Pd, Rh, Ni, Low-MgO PFS UG 3 MAJ 79.2 Mt @ 1.29g/t PGE Cu, Au Association NiS + 0.11% Ni + 0.07% Cu + 0.08g/t Au EASTERN BUSHVELD South Africa PGE Mafic Intrusion UN UN 3 MAJ [est 2 to 12 million Hosted (non-NiS ounces of PGE] dominant) MAREESBURG South Africa PGE, Au, Ni, Cu Mafic Intrusion SP OP UG 3 MAJ 15.9 Mt @ 3.92g/t PGE Hosted (non-NiS + 0.07% Ni + 0.03% Cu dominant) MOTOTOLO South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM UG 3 MAJ 573 Mt @ 4.03g/t PGE Cu, Co Hosted (non-NiS + 0.07g/t Au + 0% Ni + dominant) 0.02% Cu MPHALELE South Africa PGE, Ni, Cu, In Mafic Intrusion SP UG 4 MAJ 116 Mt @ 4.85g/t PGE Hosted (non-NiS + 0.15% Ni + 0.09% Cu + dominant) 0.18g/t Au VOLSPRUIT South Africa PGE, Ni, Cu Mafic Intrusion PFS OP 3 MAJ 28.2 Mt @ 2.37g/t PGE Hosted (non-NiS + 0.18% Ni + 0.06% Cu + dominant) 0.05g/t Au MAANDAGSHOEK South Africa PGE Mafic Intrusion CMO UG MOD [est 0.2 to 2 million NO. 148 Hosted (non-NiS ounces of PGE] dominant) MOGALAKWENA (OLD) South Africa PGE, Pt, Pd, Ni, Mafic Intrusion CMO UG MOD [est 0.2 to 2 million Cu, Co Hosted (non-NiS ounces of PGE] dominant) MOKOPANE South Africa PGE, Pt, Pd, Ni, Mafic Intrusion UD UG MOD 39.7 Mt @ 0.55g/t PGE Cu, Co Hosted (non-NiS + 0.15% Ni + 0.09% Cu dominant) ONVERWACHT MINE South Africa PGE Mafic Intrusion CMO UG MOD [est 0.2 to 2 million Hosted (non-NiS ounces of PGE] dominant) PANDORA South Africa PGE, Ni, Cu, Co Mafic Intrusion PP UG 2 MOD 7.05 Mt @ 3.78g/t PGE Hosted (non-NiS + 0.04% Co + 0.02g/t Au dominant) RUSTENBURG-BRITS South Africa PGE, Ni, Co Mafic Intrusion OM UG MOD 7.74 Mt @ 3.24g/t PGE SECTOR Hosted (non-NiS dominant) AMANDELBULT South Africa PGE, Ni, Cu, Mafic Intrusion OM UG 1 SGIA 845 Mt @ 5.04g/t PGE SECTION Au, Co Hosted (non-NiS + 0.11g/t Au + 0% Ni + dominant) 0.03% Cu BOKONI South Africa PGE, Ni, Cu, Co Mafic Intrusion CM OP UG 2 SGIA 552 Mt @ 6.19g/t PGE + Hosted (non-NiS 0.19g/t Au dominant) IMPALA South Africa PGE, Ni, Cu, Mafic Intrusion OM UG 1 SGIA 949 Mt @ 5.18g/t PGE Au, Co Hosted (non-NiS + 0.13g/t Au + 0% Ni + dominant) 0.05% Cu IVANPLATS PLATREEF South Africa PGE, Ni, Cu Mafic Intrusion DC OP UG 2 SGIA 852 Mt @ 3.19g/t PGE PGM PROJECT Hosted (non-NiS + 0.31% Ni + 0.16% Cu + dominant) 0.27g/t Au KENNEDYS VALE South Africa PGE, Pt, Au, Mafic Intrusion UD UG 3 SGIA 515 Mt @ 3.56g/t PGE + Cu, Ni Hosted (non-NiS 0.12g/t Au dominant) APPENDICES | 325 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource MARIKANA South Africa PGE, Pt, Rh, Mafic Intrusion OM UG 1 SGIA 1378 Mt @ 4.36g/t PGE Pd, Ru, Au, Ir, Hosted (non-NiS + 0.05g/t Au + 0% Ni + Ni, Cu dominant) 0.05% Cu MOGALAKWENA South Africa PGE, Pt, Pd, Ni, Mafic Intrusion OM OP UG 1 SGIA 3487 Mt @ 2.6g/t PGE Cu, Co Hosted (non-NiS + 0.2g/t Au + 0% Ni + dominant) 0.06% Cu RUSTENBURG SECTION South Africa PGE, Pt, Ni, Cu Orthomagmatic OM UG 1 SGIA 779 Mt @ 4.4g/t PGE PGM MINE + 0.17g/t Au + 0% Ni + 0.07% Cu ZONDEREINDE South Africa PGE, Pt, Pd, Mafic Intrusion OM UG 2 SGIA 454 Mt @ 6.09g/t PGE Rh, Au Hosted (non-NiS + 0.12g/t Au dominant) GREAT DYKE PROJECT Zimbabwe PGE, Pt, Ni, Mafic Intrusion FS OP 3 GIA 169 Mt @ 1.99g/t PGE Au, Cu Hosted (non-NiS dominant) MIMOSA Zimbabwe PGE, Pt, Ni, Mafic Intrusion OM UG 3 GIA 112 Mt @ 3.27g/t PGE Au, Cu Hosted (non-NiS + 0.16% Ni + 0.12% Cu + dominant) 0.28g/t Au UNKI Zimbabwe PGE, Pt, Ni, Orthomagmatic OM UG 3 GIA 236 Mt @ 3.91g/t PGE Au, Cu + 0.02% Ni + 0.02% Cu + 0.02g/t Au BOKAI Zimbabwe PGE, Pt, Au, Orthomagmatic SP UG 3 MAJ 92.5 Mt @ 3.22g/t PGE Ni, Cu + 0.2% Ni + 0.17% Cu + 0.37g/t Au NGEZI PGE CAMP Zimbabwe Pt, Pd, Au, Rh, Mafic Intrusion OM OP UG 2 SGIA 1062 Mt @ 3.35g/t PGE Ni, Ru, Cu, Co Hosted (non-NiS + 0.11% Ni + 0.08% Cu + dominant) 0.24g/t Au PHOSPHATE Number of Significant Deposits = 49 DJEBEL ONK Algeria P Sedimentary OM OP 2 GIA [est > 150 million tonnes of P2O5] DJEBEL KOUIF Algeria P Sedimentary CMO UG MOD 27 Mt @ 29.8% P2O5 CACATA Angola P Sedimentary PFS OP MOD 27 Mt @ 17.66% P2O5 CHIBUETE Angola P Sedimentary AE OP MOD 149 Mt @ 8.3% P2O5 KONDONAKASI Angola P Sedimentary CM OP MOD 20.3 Mt @ 18.5% P2O5 LACUNGA Angola P, U Carbonatite PFS OP MOD [est 3 to 30 million tonnes of P2O5] MONGO TANDO Angola P Sedimentary AE OP MOD 209 Mt @ 8.42% P2O5 MEKROU Benin P Unknown UN UN MOD [est 3 to 30 million tonnes of P2O5] KODJARI Burkina Faso P Sedimentary UD OP MOD 63 Mt @ 20% P2O5 BINGO Congo (DRC) P, Nb, REE Carbonatite UD OP MOD [est 3 to 30 million with residual tonnes of P2O5] enrichment FUNDU NZOBE Congo (DRC) P Sedimentary UD OP MOD 70 Mt @ 15% P2O5 KANZI Congo (DRC) P Sedimentary FS OP MOD 58.5 Mt @ 14.2% P2O5 HINDA Congo P, U3O8 Sedimentary FS OP 2 GIA 676 Mt @ 10% P2O5 (Republic of) 326 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ABU TARTUR Egypt P, REE, Th Sedimentary OM OP UG 2 GIA 1048 Mt @ 31% P2O5 BIKILAL Ethiopia P Sedimentary UD OP MOD 180 Mt @ 3.5% P2O5 HAHOTOE-KPOGAME- Ghana P Sedimentary OM OP MOD [est 3 to 30 million KPEME tonnes of P2O5] FARIM Guinea-Bissau P Sedimentary FS OP 3 MAJ 143 Mt @ 28.24% P2O5 TAMAGUELELT Mali P Sedimentary UD UN MOD 11.5 Mt @ 28.5% P2O5 TILEMSI Mali P Sedimentary PFS OP MOD 50 Mt @ 24.29% P2O5 BOFAL-LOUBBOIRA Mauritania P, REE, Th Sedimentary AE OP MOD 100 Mt @ 19.75% P2O5 BOU CRAA Morocco P Sedimentary OM OP UG 2 GIA 688 Mt @ 32% P2O5 GANTOUR Morocco P Carbonatite OM OP UG 2 GIA 4400 Mt @ 29.72% P2O5 SIDI CHENANE Morocco P Sedimentary OM OP 2 GIA [est > 150 million tonnes of P2O5] BOUJNIBA Morocco P Sedimentary CMO UG MOD [est 3 to 30 million tonnes of P2O5] KHOURIBGA Morocco P Sedimentary OM OP 1 SGIA 27332 Mt @ 29.8% P2O5 MESKALA Morocco P Carbonatite UD OP 2 SGIA 5000 Mt @ 32% P2O5 YOUSSOUFIA Morocco P Sedimentary OM UG 1 SGIA 8880 Mt @ 27.91% P2O5 EVATE Mozambique P, Fe, REE Sedimentary UD OP MOD 155 Mt @ 9.32% P2O5 MONTE MUANDE Mozambique P, Fe, REE Sedimentary UD OP MOD [est 3 to 30 million (PHOSPHATE) tonnes of P2O5] SANDPIPER Namibia P Sedimentary FS OP 3 GIA 1835 Mt @ 19.04% P2O5 MEOB PHOSPHATE Namibia P Sedimentary PFS OP MOD 116 Mt @ 14.14% P2O5 DEPOSIT TAPOA Niger P Sedimentary UD OP 4 GIA 1250 Mt @ 23% P2O5 THIES Senegal P Sedimentary OM OP 3 MAJ [est 30 to 150 million tonnes of P2O5] MATAM Senegal P Sedimentary UD OP MOD [est 3 to 30 million tonnes of P2O5] TAIBA Senegal P Sedimentary OM OP MOD [est 3 to 30 million tonnes of P2O5] FOSKOR MINE South Africa P, Cu, Fe Skarn OM OP 3 GIA 8581 Mt @ 6.48% P2O5 ELANDSFONTEIN South Africa P, Si, Ca Sedimentary PFS OP 3 MAJ 1289 Mt @ 10.46% P2O5 GLENOVER South Africa P, REE, Nb, Sc Carbonatite FS OP TA 3 MOD 32.8 Mt @ 9.36% P2O5 + 1.25% REO LANGEBAAN South Africa P Sedimentary CMO OP MOD 60.7 Mt @ 8.6% P2O5 JEBEL KURUN Sudan P, U Sedimentary UD OP MOD [est 3 to 30 million tonnes of P2O5] KPEME Togo P Sedimentary FS OP 2 GIA 2000 Mt @ 15% P2O5 SNTP OPERATION Togo P Sedimentary OM OP 2 GIA 2262 Mt @ 15.23% P2O5 BASSAR Togo P Sedimentary SP OP MOD 22 Mt @ 22% P2O5 APPENDICES | 327 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource GAFSA Tunisia P Sedimentary OM OP 3 GIA [est > 150 million tonnes of P2O5] BIR EL AFOU Tunisia P Sedimentary AE OP MOD 29 Mt @ 11.1% P2O5 CHAKETMA Tunisia P Sedimentary SP OP MOD 130 Mt @ 20.5% P2O5 BUSUMBU Uganda P, V, REE Carbonatite CMO OP MOD 50 Mt @ 29.5% P2O5 with residual enrichment SUKULU Uganda P, Nb, U, REE, Carbonatite CMO OP MOD 230 Mt @ 13% P2O5 Zr, Ti with residual enrichment DOROWA Zimbabwe P, Fe, REE Carbonatite OM OP MOD 78 Mt @ 6.56% P2O5 with residual enrichment POTASH Number of Significant Deposits = 10 MENGO Congo K2O, KCL.Mg Sedimentary SP UG 3 GIA 1499 Mt @ 17.3% K2O (Republic of) (general) SINTOUKOLA Congo K2O Sedimentary FS UG 3 GIA 6082 Mt @ 13.94% K2O (Republic of) (general) LAC DINGA Congo K2O Sedimentary AE UG 3 MAJ [est 30 to 150 million (Republic of) (general) tonnes K2O] HOLLE Congo K2O Sedimentary CMO UG MOD 9.4 Mt @ 27.7% K2O (Republic of) (general) MBOUKOUMASSI Congo K2O Sedimentary AE UG MOD [est 3 to 30 million (Republic of) (general) tonnes K2O] COLLULI Eritrea K2O Sedimentary FS OP UG 3 MAJ 1289 Mt @ 11% K2O (general) DALLOL Ethiopia K2O Sedimentary PFS ISL 2 GIA 3564 Mt @ 10.89% K2O (general) DANAKIL Ethiopia K2O Sedimentary FS ISL 2 GIA 5386 Mt @ 11.7% K2O (general) BANIO Gabon KCL Sedimentary SP UG 3 GIA 1816 Mt @ 10.03% K2O (general) KHEMISSET Morocco K2O Sedimentary FS UG 3 MAJ 311 Mt @ 10.2% K2O (general) RARE EARTHS Number of Significant Deposits = 18 LONGONJO Angola REE, Nb, Th Carbonatite DC OP 2 GIA 313 Mt @ 1.39% REE TANTALUS Madagascar REE, Nb, Ta Ion Adsorption AE OP 3 MOD 628 Mt @ 0.08% REE + 0.01kg/t U3O8 KANGANKUNDE Malawi REE, U, Th, Sr Carbonatite AE OP 2 GIA 261 Mt @ 2.11% REE + with residual 0.01kg/t U3O8 enrichment SONGWE Malawi REE Carbonatite FS OP 3 MAJ 49 Mt @ 1.32% REE + 0.01kg/t U3O8 LAHJEYRA Morocco REE, Nb, Th, Carbonatite AE OP 3 GIA [est 1 to 10 million Mo, Au, V tonnes of REO] LAMIAGA Morocco REE, Nb, Au, Carbonatite AE OP 3 GIA [est 1 to 10 million Mo tonnes of REO] 328 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource TWIHINATE Morocco REE, Nb, U Carbonatite AE OP 3 GIA [est 1 to 10 million tonnes of REO] MONTE MUAMBE Mozambique REE, F Carbonatite AE OP MOD 13.6 Mt @ 2.42% REE KALKFELD (REE) Namibia REE, Nb, Sr, Fe Carbonatite AE OP 4 MAJ 28 Mt @ 0.86% REE EUREKA Namibia REE, Th Carbonatite AE OP MOD 0.31 Mt @ 4.8% REE LOFDAL Namibia REE, Th, Nb, U Carbonatite PFS OP MOD 73.33 Mt @ 0.11% REE ZANDKOPSDRIFT South Africa REE, Mn Carbonatite PFS OP 3 MAJ 47 Mt @ 1.82% REE + 0.08kg/t U3O8 PHALABORWA South Africa REE Phosphogypsum PFS TA MOD 30.7 Mt @ 0.43% REE (PHOSPHOGYPSUM TA) PILANESBERG South Africa REE, Zr, Th Alkalic Igneous P UN MOD 13.5 Mt @ 0.7% REE NGUALLA Tanzania REE, Ba, P2O5 Carbonatite FS OP 3 GIA 214 Mt @ 2.14% REE WIGU HILL Tanzania REE Carbonatite SP OP MOD 3.3 Mt @ 2.6% REE with residual enrichment MAKUUTU Uganda REE, Sc Ion Adsorption FS OP 3 MAJ 531 Mt @ 0.05% REE + 0.01kg/t U3O8 NKOMBWA HILL Zambia REE, Nb, P, Th Carbonatite AE OP 4 MAJ 21.8 Mt @ 1.17% REE + with residual 7.06% P2O5 enrichment SILVER Number of Significant Deposits = 5 IMITER Morocco Ag Epithermal (Low OM OP UG 3 GIA 39.6 Mt @ 309g/t Ag sulphidation) BOU BEKER Morocco Ag, Zn, Pb Sed Hosted CMO UG 3 MAJ 18 Mt @ 400g/t Ag + Stratiform, MVT 4% Zn + 3.5% Pb TOUISSIT Morocco Ag, Zn, Pb Sed Hosted CMO UG 3 MAJ 12 Mt @ 400g/t Ag + Stratiform, MVT 3.5% Zn + 3% Pb ZGOUNDER Morocco Ag, Hg Epithermal (Low OM UG 3 MAJ 5.95 Mt @ 287g/t Ag sulphidation) BIEN VENUE South Africa Ag, Au, Zn, Cu VHMS SP UG MOD 2.4 Mt @ 156g/t Ag + 0.69g/t Au + 2.5% Zn + 0.08% Cu SODA ASH Number of Significant Deposits = 2 LAKE ABIJATA (TRONA) Ethiopia Na, Soda Ash Sedimentary OM ISL 3 GIA [est 150 to 800 million (general) tonnes Soda Ash] LAKE SHALA (TRONA) Ethiopia Na, Soda Ash Sedimentary UD ISL 4 MAJ [est 30 to 150 million (general) tonnes Soda Ash] SULPHUR Number of Significant Deposits = 1 NAMPUNDWE PYRITE Zambia S, Cu, Fe IOCG (Endogenic) CMO OP MOD [est 20 to 200 Mt of MINE Pyrite] TANTALUM Number of Significant Deposits = 5 MANONO-KITOTOLO Congo (DRC) Ta, Nb, Sn, Li Orthomagmatic OM OP 2 GIA [est 75 to 400 thousand (TANTALUM) Hydrothermal tonnes of Ta2O5] ABU DABBAB Egypt Ta, Sn, Nb, Alkalic Igneous SP OP 3 MAJ 45 Mt @ 2500 g/t Feldspar Ta2O5 + 0.09% Sn APPENDICES | 329 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource NUWEIBI Egypt Ta, Sn, Nb Alkalic Igneous AE OP 4 MAJ 98 Mt @ 145 g/t Ta2O5 + 95 g/t Nb2O5 KENTICHA Ethiopia Ta, Nb, Li, U Alkalic Igneous CM OP 3 MAJ [est 15 to 75 thousand tonnes of Ta2O5] ICYARI Rwanda Ta, Nb Alkalic Igneous FS OP MOD [est 1.5 to 15 thousand tonnes of Ta2O5] TIN Number of Significant Deposits = 15 BISIE Congo (DRC) Sn, Cu, Zn, Pb, Sedimentary OM UG 3 MAJ 9.78 Mt @ 3.54% Sn Ag, REE MANONO (HR) Congo (DRC) Sn, Ta, Li Pegmatite CMO OP 3 MAJ [est 0.3 to 1.5 million tonnes of Tin] BISIE (ARTISANAL) Congo (DRC) Sn Sedimentary CMO OP UG MOD [est 30 to 300 thousand tonnes of Tin] KALIMA DISTRICT Congo (DRC) Sn, W, Ta, Nb Unknown OM OP UG MOD [est 30 to 300 thousand differentiated tonnes of Tin] Hydrothermal MANONO (AL) Congo (DRC) Sn, Ta Placer, Allivial OM AL MOD 273 Mt @ 0.076% Sn + 40 ppm Ta2O5 ACHMMACH Morocco Sn Vein FS OP UG MOD 14.94 Mt @ 0.859% Sn EL KARIT Morocco Sn Unknown AE OP UG MOD [est 30 to 300 thousand tonnes of Tin] UIS Namibia Sn, Nb, Ta, Li Unknown OM OP 3 MAJ 101 Mt @ 0.157% Sn differentiated Hydrothermal BISICHI-BUKURU Nigeria Sn, Ta Unknown OM OP 3 MAJ [est 0.3 to 1.5 million DISTRICT tonnes of Tin] RUTONGO Rwanda Sn, Nb, Ta Unknown OM UG MOD [est 30 to 300 thousand tonnes of Tin] ROOIBERG TIN South Africa Sn, F, Cu Orthomagmatic CMO UG 3 MAJ [est 0.3 to 1.5 million Hydrothermal tonnes of Tin] MARBLE HALL South Africa Sn Unknown AE UG MOD 3.6 Mt @0.5% Sn differentiated Hydrothermal RENOSTERKOP South Africa Sn, Zn, W Unknown UD OP MOD [est 30 to 300 thousand differentiated tonnes of Tin] Hydrothermal ZAAIPLAATS TIN South Africa Sn, W Orthomagmatic PFS OP UG MOD [est 30 to 300 thousand tonnes of Tin] KAMATIVI Zimbabwe Sn, Ta Unknown CMO OP 3 MAJ 100 Mt @ 0.28% Sn TUNGSTEN Number of Significant Deposits = 5 RIVIERA South Africa W, Mo, REE Skarn UD UG MOD 46 Mt @ 0.22% W + 0.02% Mo NYAMULIRO Uganda W Vein OM UG MOD 10 Mt @ 0.4% W RUHIJHA Uganda W Vein AE UG MOD [est 10 to 100 thousand tonnes of Tungsten] CHIREDZI DISTRICT Zimbabwe W Unknown CMO UG MOD [est 10 to 100 thousand differentiated tonnes of Tungsten] Hydrothermal 330 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource RHA Zimbabwe W Unknown OM OP UG MOD 21.9 Mt @ 0.22% W differentiated Hydrothermal URANIUM Number of Significant Deposits = 65 ABANKOR Algeria U3O8 Metamorphic UD OP MOD 2.86 Mt @ 3.91kg/t U3O8 TIMAGAOINE Algeria U3O8 Granite-related UD UG MOD 11.8 Mt @ 1.23kg/t U3O8 TINEF Algeria U3O8 Metamorphic UD OP MOD 17.3 Mt @ 0.8kg/t U3O8 LETLHAKANE Botswana U3O8 Sandstone SP OP 3 GIA 822 Mt @ 0.2kg/t U3O8 (URANIUM) (tabular) KITONGO Cameroon U3O8 Metasomatite SP UG MOD 13.1 Mt @ 1kg/t U3O8 BAKOUMA Central African U3O8, P2O5 Surficial SP OP 3 MAJ 15 Mt @ 2.83kg/t U3O8 Rep. SHINKOLOBWE Congo (DRC) U3O8, Co, Ni, Metamorphic CMO OP UG 2 MAJ 5.1 Mt @ 5.9kg/t U3O8 Cu, PGE, Au LUENA BASIN Congo (DRC) U3O8, C_lignite Sedimentary UD OP MOD [est 5 to 25 thousand (lignite) tonnes of U3O8] BAGOMBE Gabon U3O8 Sandstone AE OP MOD 2 Mt @ 3.2kg/t U3O8 (tectonic/ lithologic) MIKOLOUNGOU Gabon U3O8 Sandstone AE OP MOD 1.24 Mt @ 4.48kg/t (tectonic/ U3O8 lithologic) MOUNANA Gabon U3O8 Sandstone CMO OP UG 3 MOD 1.2 Mt @ 5.78kg/t U3O8 (tectonic/ lithologic) OKELOMBONDO Gabon U3O8 Sandstone CMO UG MOD 1.76 Mt @ 4.95kg/t (tectonic/ U3O8 lithologic) OKLO Gabon U3O8 Sandstone CMO OP UG 3 MOD 3.39 Mt @ 4.36kg/t (tectonic/ U3O8 lithologic) FIRAWA Guinea U3O8 Metamorphic SP OP MOD 30.3 Mt @ 0.3kg/t U3O8 KAYELEKERA Malawi U3O8 Sandstone CM OP 3 MAJ 48.2 Mt @ 0.58kg/t (tabular) U3O8 FALEA Mali U3O8, Cu, Sandstone AE OP UG MOD 15.7 Mt @ 0.89kg/t Ag, Au (roll-front) U3O8 + 42g/t Ag + 0.18% Cu TIRIS Mauritania U3O8, V Surficial FS OP 3 MAJ 113 Mt @ 0.24kg/t U3O8 A238 Mauritania U3O8 Metasomatite SP OP MOD 45.2 Mt @ 0.24kg/t U3O8 AIN SDER Mauritania U3O8, Au Surficial AE OP MOD 26.1 Mt @ 0.35kg/t U3O8 FERKIK Mauritania U3O8, Au Surficial AE OP MOD 16.4 Mt @ 0.31kg/t U3O8 APPENDICES | 331 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource AGHRACHA Morocco U3O8, REE, Fe, Surficial AE OP MOD 35 Mt @ 0.14kg/t U3O8 V, Ti HUSAB Namibia U3O8 Anatectic OM OP 2 GIA 410 Mt @ 0.54kg/t Intrusion Related U3O8 ROSSING Namibia U3O8, REE Anatectic OM OP 1 GIA 787 Mt @ 0.28kg/t Intrusion Related U3O8 ETANGO Namibia U3O8 Anatectic FS OP 3 MAJ 547 Mt @ 0.21kg/t Intrusion Related U3O8 LANGER HEINRICH Namibia U3O8 Surficial CM OP 2 MAJ 172 Mt @ 0.48kg/t U3O8 MARENICA Namibia U3O8 Surficial PFS OP 4 MAJ 299 Mt @ 0.09kg/t U3O8 ONGOLO Namibia U3O8 Intrusion Related PFS OP 3 MAJ 227 Mt @ 0.18kg/t U3O8 TUBAS Namibia U3O8 Intrusion Related AE OP 3 MAJ 201 Mt @ 0.26kg/t U3O8 VALENCIA Namibia U3O8 Intrusion Related SP OP 3 MAJ 185 Mt @ 0.2kg/t U3O8 ANOMALY No.18 Namibia U3O8 Intrusion Related AE OP MOD 50 Mt @ 0.23kg/t U3O8 AUSSINANIS Namibia U3O8 Surficial AE OP MOD 34.6 Mt @ 0.24kg/t U3O8 IDA DOME Namibia U3O8 Intrusion Related AE OP MOD 53.3 Mt @ 0.21kg/t U3O8 INCA Namibia U3O8 Intrusion Related PFS OP MOD 36.6 Mt @ 0.27kg/t U3O8 KOPPIES Namibia U3O8 Surficial AE OP MOD 135 Mt @ 0.19kg/t U3O8 MS7 Namibia U3O8 Intrusion Related AE OP MOD 34.5 Mt @ 0.21kg/t U3O8 NAMIBPLAAS Namibia U3O8 Intrusion Related AE OP MOD 106 Mt @ 0.2kg/t U3O8 TREKKOPJE Namibia U3O8, V Surficial CM OP 3 MOD 180 Mt @ 0.13kg/t U3O8 TUBAS RED SAND Namibia U3O8, Fe Surficial PFS OP MOD 34 Mt @ 0.17kg/t U3O8 IMOURAREN Niger U3O8 Sandstone SP OP 2 GIA 254 Mt @ 0.94kg/t (roll-front) U3O8 SOMAIR U OPERATION Niger U3O8 Sandstone OM OP 1 GIA 136 Mt @ 1.61kg/t U3O8 (tabular) COMINAK U Niger U3O8 Sandstone CMO UG 2 MAJ 25.9 Mt @ 4.21kg/t OPERATION (tabular) U3O8 DASA Niger U3O8 Sandstone DC OP UG 1 MAJ 14.5 Mt @ 5.01kg/t (tabular) U3O8 MADAOUELA PROJECT Niger U3O8 Sandstone FS OP UG 2 MAJ 43.9 Mt @ 1.29kg/t (tabular) U3O8 AGADEZ Niger U3O8 Sandstone AE ISL MOD 31.1 Mt @ 0.31kg/t (tabular) U3O8 AZELIK Niger U3O8 Sandstone CM OP UG 3 MOD 5.05 Mt @ 1.71kg/t (tabular) U3O8 332 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource DAJY Niger U3O8 Sandstone SP ISL MOD 11.3 Mt @ 0.68kg/t (tabular) U3O8 ISAKANAN Niger U3O8 Sandstone SP UG MOD 17.2 Mt @ 0.9kg/t U3O8 (tabular) TEGUIDDA Niger U3O8 Sandstone OM OP 3 MOD 3.75 Mt @ 2kg/t U3O8 (tabular) ALIO GHELLE Somalia U3O8 Metasomatite UD OP MOD 7.04 Mt @ 0.9kg/t U3O8 DUSA MAREB Somalia U3O8 Surficial UD OP 3 MOD 7.53 Mt @ 1kg/t U3O8 GHELINSER-EL BUR Somalia U3O8 Surficial UD OP MOD 6.9 Mt @ 1.16kg/t U3O8 BEISA South Africa U3O8, Au Placer PP UG 3 MAJ 71.2 Mt @ 0.59kg/t (Q-pebble), U3O8 + 1.82g/t Au Alluvial DOMINION REEFS U South Africa U3O8, Au Placer CM OP UG 4 MAJ 261 Mt @ 0.35kg/t PROJECT (Q-pebble), U3O8 + 0.62g/t Au Alluvial FREEGOLD - U SECTION South Africa U3O8, Au Placer CM UG 3 MAJ 839 Mt @ 0.02kg/t (Q-pebble), U3O8 Alluvial KAROO South Africa U3O8, Mo Placer PFS OP UG 3 MAJ 18.5 Mt @ 1.1kg/t U3O8 (Q-pebble), Alluvial KLOOF DIVISION - South Africa U3O8, Au Placer OM UG 3 MAJ 498 Mt @ 0.06kg/t URANIUM SECTION (Q-pebble), U3O8 Alluvial MOAB KHOTSONG - South Africa U3O8, Au Placer OM UG 3 MAJ 32.6 Mt @ 0.88kg/t URANIUM SECTION (Q-pebble), U3O8 Alluvial SPRINGBOK FLATS South Africa U3O8, Coal Sedimentary SP OP 4 MAJ 218 Mt @ 0.45kg/t (Lignite) (lignite) U3O8 BEISA NORTH South Africa U3O8, Au Placer AE UG 3 MOD 27.9 Mt @ 0.78kg/t (Q-pebble), U3O8 Alluvial DENNY DALTON South Africa U3O8, Au Placer SP OP MOD 31.5 Mt @ 0.35kg/t (Q-pebble), U3O8 Alluvial MKUJU RIVER Tanzania U3O8 Sandstone FS OP 3 MAJ 241 Mt @ 0.29kg/t (tabular) U3O8 MANYONI Tanzania U3O8 Surficial FS OP MOD 93.6 Mt @ 0.14kg/t U3O8 KARIBA Zambia U3O8 Sandstone PFS OP MOD 16.4 Mt @ 0.38kg/t (tabular) U3O8 MALUNDWE Zambia U3O8, Au, Cu Metamorphic PFS OP MOD 9 Mt @ 0.87kg/t U3O8 MUTANGA (CAMP) Zambia U3O8 Sandstone FS OP MOD 57.6 Mt @ 0.35kg/t (tabular) U3O8 VANADIUM Number of Significant Deposits = 10 MUKANDA Burundi V, Ti, Fe Stratiform SP OP MOD 11.893 Mt @ 1.18% V2O5 GREEN GIA Madagascar V, C_graphite Black Shale PFS OP MOD 59.2 @ 6.83% V2O5 APPENDICES | 333 Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource ABENAB Namibia V, Pb, Zn Breccia Pipe PP OP UG MOD 2.8 Mt @ 0.66% V2O5 SPD VANADIUM South Africa V, Fe, Ti Iron Ore PFS OP 3 GIA 588 Mt @ !.78% V2O5 PROJECT (Magnetite) VAMETCO South Africa V, Fe, Ti Iron Ore OM OP 3 GIA 180.4 Mt @ 0.77% V2O5 (Magnetite) BRITS VANADIUM South Africa V, Fe, Ti Iron Ore AE OP 3 MAJ 1.68 Mt @ 1.5% V2O5 + PROJECT (Magnetite) 51.2% Fe + 11.9% TiO2 RHOVAN South Africa V, Fe, Ti Iron Ore OM OP 3 MAJ 187 Mt @ 0.49% V2O5 (Magnetite) MAPOCHS South Africa V, Fe, Ti Iron Ore (other) CM OP MOD 22.94 Mt @ 1.74% V2O5 MOKOPANE VANADIUM South Africa V, Fe, Ti Mafic Intrusion PFS OP MOD 28.5 Mt @ 1.41% V205 Hosted (non-NiS dominant) VANTECH South Africa V, Fe, Ti Iron Ore CMO OP MOD [est 50 to 500 (Magnetite) thousand tonnes of V2O5] VERMICULITE Number of Significant Deposits = 2 NAMEKARA Uganda Vermiculite Unknown CM OP 3 MAJ 54.9 Mt @ 26.7% VERMICULITE Vermiculite SHAWA Zimbabwe Vermiculite, Carbonatite OM OP 3 MAJ [est 10 to 50 Mt P, REE Vermiculite] ZINC Number of Significant Deposits = 26 OUED AMIZOUR Algeria Zn, Pb, Cu, Au VHMS FS UG 3 MAJ 54 Mt @ 5.3% Zn + 1.3% Pb BOUKDEMA Algeria Zn, Pb Sed Hosted UD UG MOD 12 Mt @ 6.5% Zn + Stratiform, MVT 2.07% Pb EL ABED Algeria Zn, Pb, Ag Sed Hosted CMO UG MOD 30 Mt @ 4.6% Zn + Stratiform, MVT 1% Pb KHERZET YOUCEF Algeria Zn, Pb Sed Hosted UD UG MOD 1.6 Mt @ 18% Zn + Stratiform, MVT 3.6% Pb SETIF Algeria Zn, Pb Unknown UD OP UG MOD [est 0.3 to 3 million tonnes of Zinc] ZHONGYUAN Algeria Zn, Pb Sed Hosted AE UG MOD 8.68 Mt @ 5.9% Zn Stratiform, MVT LOETO Angola Zn Unknown UD UN MOD [est 0.3 to 3 million tonnes of Zinc] KIHABE CAMP Botswana Zn, Pb, Ag, Cu Sed Hosted PFS OP MOD [est 0.3 to 3 million Stratiform, MVT tonnes of Zinc] PERKOA Burkina Faso Zn, Au, Ag VHMS OM UG MOD [est 0.3 to 3 million tonnes of Zinc] YANGA KOUBANZA Congo Zn, Pb, Cu Sed Hosted AE UN MOD [est 0.3 to 3 million (Republic of) Stratiform, MVT tonnes of Zinc] ADI NEFAS Eritrea Zn, Au, Cu, Ag VHMS FS UG MOD [est 0.3 to 3 million tonnes of Zinc] 334 | MINERAL RESOURCES OF AFRICA Current Mining Deposit Name Country Commodities Deposit Type Status Style Tier Size Pre-Mined Resource GUEMASSA Morocco Zn, Pb, Cu VHMS OM UG 3 MAJ 36.6 Mt @ 6.19% Zn + 1.12% Cu + 1.52% Pb + 0.17g/t Au DRAA SFAR Morocco Zn, Pb, Cu VHMS OM UG MOD [est 0.3 to 3 million tonnes of Zinc] HAJJAR Morocco Zn, Pb, Cu VHMS OM UG MOD [est 0.3 to 3 million tonnes of Zinc] ROSH PINAH Namibia Zn, Pb, Cu Sed Hosted OM UG 3 MAJ 46.2 Mt @ 7.77% Zn Stratiform, SEDEX + 0% Cu + 2.09% Pb + 26.26g/t Ag BERG AUKAS Namibia Zn, Pb, V Sed Hosted PP UG MOD 5.23 Mt @ 10.83% Zn + Stratiform, MVT 3.01% Pb GERGARUB Namibia Zn, Pb, Cu Sed Hosted AE UG 3 MOD 10 Mt @ 8% Zn + 2% Pb Stratiform, SEDEX SKORPION (OXIDE) Namibia Zn Sed Hosted CM OP 2 MOD 24.2 Mt @ 10.19% Zn Stratiform, SEDEX GAMSBERG South Africa Zn, Pb, Ag, Cu Sed Hosted FS OP UG 3 GIA 214.3 Mt @ 6.67% Zn + Stratiform, SEDEX 0.44% Pb PRIESKA South Africa Zn, Cu, Pb, Au, VHMS FS OP UG 3 MAJ 76.2 Mt @ 3.79% Zn + Ag, Pyrite, Bi, 1.53% Cu + 0.31g/t Au Mo BUSHY PARK South Africa Zn, Pb Sed Hosted AE OP MOD 10.9 Mt @ 3.78% Zn + Stratiform, MVT 0.15% Pb MARANDA South Africa Zn, Cu, Ag, Au VHMS CMO UG MOD 1.57 Mt @ 15.22% Zn + 1.92% Cu PERING South Africa Zn,Pb Sed Hosted CMO OP MOD 36 Mt @ 2.19% Zn + Stratiform, MVT 0.47% Pb SALT RIVER South Africa Zn,Cu,Au,Pb,Ag VHMS UD OP MOD [est 0.3 to 3 million tonnes of Zinc] BOUGRINE Tunisia Zn,Pb Sed Hosted OM UG MOD 5.24 Mt @ 12.35% Zn + Stratiform, MVT 2.26% Pb KABWE MINE Zambia Zn,Pb,Ag,Cu,Ge Sed Hosted PFS OP UG 2 MAJ 65.1 Mt @ 6.42% Zn + Stratiform, MVT 2.46% Pb APPENDICES | 335 Appendix C: World and African mineral discoveries and exploration expenditure data WORLD Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 184 306 301 165 83 607 248 321 Base Metal (Cu, Ni, [No] 123 168 156 53 39 324 92 130 Zn/Pb) Copper [No] 92 124 126 42 28 250 70 99 Nickel [No] 31 44 30 11 11 74 22 31 Zinc/lead [No] 23 31 32 10 4 63 14 16 Uranium [No] 7 20 17 6 6 37 12 15 Diamonds [No] 8 16 8 1 0 24 1 1 Iron ore [No] 30 100 94 11 3 194 14 16 Coal [No] 11 57 40 3 1 97 4 4 Lithium [No] 4 5 17 40 40 22 80 123 Other [No] 85 161 131 96 41 292 137 189 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 452 833 764 375 213 1597 588 799 Estimated number of - - 2 56 155 2 211 unreported discoveries Adjusted total (a) [No] 452 833 766 431 368 1599 799 Metal Discovered (b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 346.2 824.9 464.9 260.2 140.5 1289.9 400.7 801.3 Copper [Mt Cu] 247.3 295.4 184.6 105.3 66.8 480.0 172.0 415.8 Nickel [Mt Ni] 27.3 21.9 49.8 2.3 9.4 71.7 11.8 43.8 Zinc/lead [Mt Zn + Pb] 61.2 30.4 120.9 31.4 11.5 151.3 42.9 73.0 Uranium [kt U3O8] 169.0 608.2 401.4 229.0 89.8 1009.6 318.8 530.1 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 12826 28495 30777 644 606 59272 1250 2506 Coal [Mt Coal] 17625 75930 43108 10224 33 119038 10257 10863 Lithium [Mt Li] 2.0 3.2 14.6 36.8 15.6 17.8 52.4 124.1 336 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $9,726 $25,859 $51,292 $29,806 $31,871 $77,151 $61,677 $61,677 Base Metal (Cu, Ni, [Dec 2023 US$m] $6,657 $21,958 $38,321 $23,115 $21,404 $60,279 $44,519 $44,519 Zn/Pb) Copper [Dec 2023 US$m] $3,682 $12,499 $26,017 $15,992 $15,005 $38,517 $30,997 $30,997 Nickel [Dec 2023 US$m] $1,478 $5,038 $5,280 $2,232 $2,486 $10,318 $4,719 $4,719 Zinc/lead [Dec 2023 US$m] $1,497 $4,421 $7,024 $4,891 $3,913 $11,444 $8,804 $8,804 Uranium [Dec 2023 US$m] $866 $4,789 $7,368 $3,384 $2,509 $12,157 $5,893 $5,893 Diamonds [Dec 2023 US$m] $2,254 $5,844 $3,044 $2,046 $1,294 $8,887 $3,341 $3,341 Iron ore [Dec 2023 US$m] $717 $5,815 $17,013 $5,543 $3,721 $22,827 $9,264 $9,264 Coal [Dec 2023 US$m] $1,434 $8,445 $20,811 $5,858 $3,302 $29,255 $9,161 $9,161 Lithium (c) [Dec 2023 US$m] inc below inc below $769 $750 $2,294 inc below $3,044 $3,044 Other [Dec 2023 US$m] $1,680 $4,421 $10,763 $10,782 $10,045 $15,184 $20,827 $20,827 Total [Dec 2023 US$m] $23,457 $82,299 $157,781 $81,756 $76,879 $240,079 $158,635 $158,635 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 US$m/ $52 $99 $207 $218 $361 $150 $270 $199 deposit] Gold [Dec 2023 $28 $31 $110 $115 $227 $60 $154 $77 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $15 $42 $141 $152 $225 $80 $180 $75 US$/t Cu] Nickel [Dec 2023 $54 $230 $106 $959 $263 $144 $401 $108 US$/t Ni] Zinc/lead [Dec 2023 $24 $145 $58 $156 $340 $76 $205 $121 US$/t Zn + Pb] Uranium [Dec 2023 $2.31 $3.55 $8.27 $6.65 $12.59 $5.42 $8.33 $5.01 US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 $0.06 $0.20 $0.55 $8.61 $6.14 $0.39 $7.41 $3.70 US$/t Fe] Coal [Dec 2023 $0.08 $0.11 $0.48 $0.57 n/a $0.25 $0.89 $0.84 US$/t Coal] Lithium [Dec 2023 n/a n/a $53 $20 $147 n/a $58 $25 US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Before 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 337 Alphabetic list and essential details of major African mineral deposits listed by primary metal only. Excludes byproduct metal (such as any gold in copper deposits). Prior to 2009, exploration expenditures on Lithium were included in the “Other” category. WORLD EXCLUDING AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 142 221 182 120 63 403 183 239 Base Metal (Cu, Ni, [No] 115 140 143 46 34 283 80 113 Zn/Pb) Copper [No] 86 104 117 37 23 221 60 84 Nickel [No] 30 38 26 9 11 64 20 29 Zinc/lead [No] 22 29 32 10 4 61 14 16 Uranium [No] 7 14 8 6 5 22 11 14 Diamonds [No] 4 5 3 0 0 8 0 0 Iron ore [No] 28 86 73 9 1 159 10 10 Coal [No] 10 46 31 3 1 77 4 4 Lithium [No] 4 4 16 35 35 20 70 109 Other [No] 72 140 102 76 38 242 114 162 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 382 656 558 295 177 1214 472 649 Estimated number of - - 1 46 131 1 177 unreported discoveries Adjusted total (a) [No] 382 656 559 341 308 1215 649 Metal Discovered (b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 280.7 681.2 318.9 182.8 112.4 1000.1 295.2 603.9 Copper [Mt Cu] 241.3 238.4 177.1 78.7 55.0 415.5 133.7 321.8 Nickel [Mt Ni] 26.4 19.8 44.4 2.3 9.4 64.1 11.7 43.7 Zinc/lead [Mt Zn + Pb] 60.5 28.9 120.9 31.4 11.5 149.8 42.9 73.0 Uranium [kt U3O8] 169.0 562.4 373.3 229.0 85.9 935.7 315.0 521.6 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 12568 20166 20573 597 295 40739 892 1574 Coal [Mt Coal] 11226 60781 30984 10224 33 91766 10257 10863 Lithium [Mt Li] 2.0 1.8 14.6 31.0 15.3 16.4 46.3 114.1 338 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $8,414 $22,193 $43,282 $25,750 $27,994 $65,475 $53,744 $53,744 Base Metal (Cu, Ni, [Dec 2023 US$m] $6,194 $20,351 $34,779 $20,981 $20,296 $55,131 $41,278 $41,278 Zn/Pb) Copper [Dec 2023 US$m] $3,424 $11,446 $23,083 $14,320 $14,100 $34,529 $28,420 $28,420 Nickel [Dec 2023 US$m] $1,399 $4,678 $4,912 $2,134 $2,433 $9,590 $4,567 $4,567 Zinc/lead [Dec 2023 US$m] $1,371 $4,227 $6,785 $4,527 $3,764 $11,012 $8,290 $8,290 Uranium [Dec 2023 US$m] $776 $4,193 $5,977 $3,228 $2,393 $10,169 $5,621 $5,621 Diamonds [Dec 2023 US$m] $1,471 $2,910 $1,837 $1,413 $951 $4,747 $2,364 $2,364 Iron ore [Dec 2023 US$m] $643 $5,277 $14,429 $4,861 $3,512 $19,706 $8,373 $8,373 Coal [Dec 2023 US$m] $1,386 $8,218 $20,338 $5,723 $3,234 $28,556 $8,957 $8,957 Lithium (c) [Dec 2023 US$m] inc below inc below $768 $707 $2,098 inc below $2,804 $2,804 Other [Dec 2023 US$m] $1,276 $2,848 $8,579 $9,493 $8,876 $11,427 $18,369 $18,369 Total [Dec 2023 US$m] $20,284 $71,159 $138,391 $72,628 $69,792 $209,549 $142,420 $142,420 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 US$m/ $53 $108 $248 $246 $394 $173 $302 $219 deposit] Gold [Dec 2023 $30 $33 $136 $141 $249 $65 $182 $89 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $14 $48 $130 $182 $256 $83 $213 $88 US$/t Cu] Nickel [Dec 2023 $53 $237 $111 $943 $258 $150 $390 $105 US$/t Ni] Zinc/lead [Dec 2023 $23 $146 $56 $144 $327 $74 $193 $114 US$/t Zn + Pb] Uranium [Dec 2023 $2.07 $3.36 $7.21 $6.35 $12.54 $4.89 $8.04 $4.85 US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 $0.05 $0.26 $0.70 $8.14 $11.89 $0.48 $9.38 $5.32 US$/t Fe] Coal [Dec 2023 $0.12 $0.14 $0.66 $0.56 n/a $0.31 $0.87 $0.82 US$/t Coal] Lithium [Dec 2023 n/a n/a $53 $23 $137 n/a $61 $25 US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Before 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 339 AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 42 85 119 45 20 204 65 82 Base Metal (Cu, Ni, [No] 8 28 13 7 5 41 12 18 Zn/Pb) Copper [No] 6 20 9 5 5 29 10 15 Nickel [No] 1 6 4 2 0 10 2 2 Zinc/lead [No] 1 2 0 0 0 2 0 0 Uranium [No] 0 6 9 0 1 15 1 1 Diamonds [No] 4 11 5 1 0 16 1 1 Iron ore [No] 2 14 21 2 2 35 4 7 Coal [No] 1 11 9 0 0 20 0 0 Lithium [No] 0 1 1 5 5 2 10 14 Other [No] 13 21 29 20 3 50 23 27 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 70 177 206 80 36 383 116 150 Est. number of - - 1 10 24 1 34 unreported discoveries Adjusted total (a) [No] 70 177 207 90 60 384 150 Metal Discovered (b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 65.5 143.7 146.0 77.4 28.0 289.8 105.5 197.4 Copper [Mt Cu] 6.0 57.0 7.5 26.6 11.8 64.5 38.3 93.9 Nickel [Mt Ni] 0.9 2.1 5.5 0.1 0.0 7.6 0.1 0.1 Zinc/lead [Mt Zn + Pb] 0.7 1.5 0.0 0.0 0.0 1.5 0.0 0.0 Uranium [kt U3O8] 0.0 45.8 28.0 0.0 3.8 73.9 3.8 8.5 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 258 8329 10204 47 310 18533 357 933 Coal [Mt Coal] 6399 15148 12124 0 0 27273 0 0 Lithium [Mt Li] 0.0 1.3 0.0 5.8 0.3 1.4 6.1 10.0 340 | MINERAL RESOURCES OF AFRICA Exploration Expenditure 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $1,312 $3,666 $8,010 $4,056 $3,877 $11,676 $7,932 $7,932 Base Metal (Cu, Ni, [Dec 2023 US$m] $462 $1,606 $3,541 $2,133 $1,108 $5,148 $3,242 $3,242 Zn/Pb) Copper [Dec 2023 US$m] $258 $1,053 $2,935 $1,671 $906 $3,988 $2,577 $2,577 Nickel [Dec 2023 US$m] $79 $360 $368 $98 $54 $728 $152 $152 Zinc/lead [Dec 2023 US$m] $125 $194 $238 $364 $149 $432 $513 $513 Uranium [Dec 2023 US$m] $90 $596 $1,391 $156 $116 $1,987 $272 $272 Diamonds [Dec 2023 US$m] $783 $2,934 $1,207 $633 $343 $4,140 $976 $976 Iron ore [Dec 2023 US$m] $74 $538 $2,583 $682 $209 $3,121 $891 $891 Coal [Dec 2023 US$m] $48 $227 $473 $135 $68 $700 $203 $203 Lithium (c) [Dec 2023 US$m] inc below inc below $1 $43 $197 inc below $239 $239 Other [Dec 2023 US$m] $403 $1,573 $2,184 $1,289 $1,169 $3,757 $2,458 $2,458 Total [Dec 2023 US$m] $3,173 $11,140 $19,390 $9,128 $7,087 $30,530 $16,214 $16,214 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 $45 $63 $94 $114 $197 $80 $140 $108 US$m/deposit] Gold [Dec 2023 $20 $26 $55 $52 $138 $40 $75 $40 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $43 $18 $392 $63 $77 $62 $67 $27 US$/t Cu] Nickel [Dec 2023 $85 $169 $68 $1,547 n/a $96 $2,399 $1,614 US$/t Ni] Zinc/lead [Dec 2023 $174 $128 n/a n/a n/a $286 n/a n/a US$/t Zn + Pb] Uranium [Dec 2023 n/a $5.86 $22.33 n/a $13.67 $12.11 $32.04 $14.42 US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 $0.29 $0.06 $0.25 n/a $0.67 $0.17 $2.49 $0.96 US$/t Fe] Coal [Dec 2023 $0.01 $0.01 $0.04 n/a n/a $0.03 n/a n/a US$/t Coal] Lithium [Dec 2023 n/a n/a $36 $7 $625 n/a $39 $24 US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Prior to 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 341 NORTH AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 2 2 2 0 1 4 1 2 Base Metal (Cu, Ni, [No] 1 2 1 0 0 3 0 0 Zn/Pb) Copper [No] 1 1 1 0 0 2 0 0 Nickel [No] 0 0 0 0 0 0 0 0 Zinc/lead [No] 0 1 0 0 0 1 0 0 Uranium [No] 0 1 0 0 0 1 0 0 Diamonds [No] 0 0 0 0 0 0 0 0 Iron ore [No] 0 0 1 0 0 1 0 0 Coal [No] 0 0 0 0 0 0 0 0 Lithium [No] 0 0 0 0 0 0 0 0 Other [No] 4 0 1 0 0 1 0 0 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 7 5 5 0 1 10 1 2 Estimated number of - - 0 0 1 0 1 unreported discoveries Adjusted total (a) [No] 7 5 5 0 2 10 2 Metal Discovered(b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 0.6 0.4 0.5 0.0 0.3 0.9 0.3 1.5 Copper [Mt Cu] 0.1 0.3 1.2 0.0 0.0 1.5 0.0 0.0 Nickel [Mt Ni] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Zinc/lead [Mt Zn + Pb] 0.0 0.5 0.0 0.0 0.0 0.5 0.0 0.0 Uranium [kt U3O8] 0.0 0.7 0.0 0.0 0.0 0.7 0.0 0.0 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 0 0 28 0 0 28 0 0 Coal [Mt Coal] 0 0 0 0 0 0 0 0 Lithium [Mt Li] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 342 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $17 $61 $170 $123 $147 $231 $270 $270 Base Metal (Cu, Ni, [Dec 2023 US$m] $43 $62 $54 $76 $53 $116 $129 $129 Zn/Pb) Copper [Dec 2023 US$m] $16 $6 $10 $47 $36 $16 $83 $83 Nickel [Dec 2023 US$m] $0 $1 $1 $0 $0 $2 $0 $0 Zinc/lead [Dec 2023 US$m] $27 $55 $43 $29 $17 $98 $46 $46 Uranium [Dec 2023 US$m] $73 $16 $4 $1 $1 $19 $2 $2 Diamonds [Dec 2023 US$m] $1 $4 $3 $2 $0 $7 $2 $2 Iron ore [Dec 2023 US$m] $0 $0 $0 $0 $0 $0 $0 $0 Coal [Dec 2023 US$m] $0 $0 $0 $0 $0 $0 $0 $0 Lithium (c) [Dec 2023 US$m] inc below inc below $0 $0 $1 inc below $2 $2 Other [Dec 2023 US$m] $1 $15 $119 $91 $80 $134 $171 $171 Total [Dec 2023 US$m] $134 $157 $349 $294 $282 $507 $576 $576 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 US$m/ $19 $31 $70 n/a $282 $51 $576 $288 deposit] Gold [Dec 2023 $29 $156 $323 n/a $465 $252 $854 $179 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $121 $18 $8 n/a n/a $10 n/a n/a US$/t Cu] Nickel [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Ni] Zinc/lead [Dec 2023 n/a n/a n/a n/a n/a $192 n/a n/a US$/t Zn + Pb] Uranium [Dec 2023 n/a n/a n/a n/a n/a $12.02 n/a n/a US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 n/a n/a $0.00 n/a n/a $0.00 n/a n/a US$/t Fe] Coal [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Coal] Lithium [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Prior to 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 343 WEST AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 21 58 61 25 14 119 39 51 Base Metal (Cu, Ni, [No] 0 0 3 1 0 3 1 1 Zn/Pb) Copper [No] 0 0 0 0 0 0 0 0 Nickel [No] 0 0 3 1 0 3 1 1 Zinc/lead [No] 0 0 0 0 0 0 0 0 Uranium [No] 0 1 6 0 0 7 0 0 Diamonds [No] 1 1 0 0 0 1 0 0 Iron ore [No] 0 7 5 0 1 12 1 3 Coal [No] 0 0 0 0 0 0 0 0 Lithium [No] 0 1 0 2 2 1 4 6 Other [No] 0 4 4 1 1 8 2 5 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 22 72 79 29 18 151 47 65 Estimated number of - - 1 5 13 1 18 unreported discoveries Adjusted total (a) [No] 22 72 80 34 31 152 65 Metal Discovered (b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 27.4 83.3 85.0 38.1 19.3 168.3 57.4 120.8 Copper [Mt Cu] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Nickel [Mt Ni] 0.0 0.0 1.5 0.0 0.0 1.5 0.0 0.1 Zinc/lead [Mt Zn + Pb] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Uranium [kt U3O8] 0.0 8.3 19.5 0.0 0.0 27.8 0.0 0.0 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 0 5081 375 0 32 5455 32 264 Coal [Mt Coal] 0 0 0 0 0 0 0 0 Lithium [Mt Li] 0.0 1.3 0.0 0.4 0.1 1.3 0.5 1.1 344 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $720 $2,030 $5,504 $2,880 $2,945 $7,533 $5,824 $5,824 Base Metal (Cu, Ni, [Dec 2023 US$m] $37 $53 $103 $49 $28 $156 $77 $77 Zn/Pb) Copper [Dec 2023 US$m] $7 $29 $79 $16 $7 $108 $23 $23 Nickel [Dec 2023 US$m] $7 $14 $17 $28 $11 $32 $39 $39 Zinc/lead [Dec 2023 US$m] $23 $9 $7 $5 $10 $16 $15 $15 Uranium [Dec 2023 US$m] $17 $278 $548 $58 $39 $826 $96 $96 Diamonds [Dec 2023 US$m] $84 $185 $133 $48 $13 $319 $61 $61 Iron ore [Dec 2023 US$m] $43 $432 $1,970 $450 $61 $2,402 $511 $511 Coal [Dec 2023 US$m] $0 $1 $2 $0 $0 $3 $1 $1 Lithium (c) [Dec 2023 US$m] inc below inc below $0 $15 $70 inc below $85 $85 Other [Dec 2023 US$m] $17 $158 $207 $115 $54 $365 $169 $169 Total [Dec 2023 US$m] $918 $3,136 $8,467 $3,615 $3,211 $11,603 $6,826 $6,826 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 US$m/ $42 $44 $107 $125 $178 $77 $145 $105 deposit] Gold [Dec 2023 $26 $24 $65 n/a $153 $45 $101 $48 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Cu] Nickel [Dec 2023 n/a n/a $12 $888 n/a $22 $1,243 $690 US$/t Ni] Zinc/lead [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Zn + Pb] Uranium [Dec 2023 n/a $15.09 $12.64 n/a n/a $13.37 n/a n/a US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 n/a $0.08 $5.26 n/a $1.94 $0.44 $16.17 $1.94 US$/t Fe] Coal [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Coal] Lithium [Dec 2023 n/a n/a n/a $41 $555 n/a $174 $76 US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Prior to 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 345 CENTRAL AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 1 6 12 2 1 18 3 4 Base Metal (Cu, Ni, [No] 3 11 0 2 2 11 4 7 Zn/Pb) Copper [No] 3 11 0 2 2 11 4 7 Nickel [No] 0 0 0 0 0 0 0 0 Zinc/lead [No] 0 0 0 0 0 0 0 0 Uranium [No] 0 0 0 0 0 0 0 0 Diamonds [No] 0 2 0 0 0 2 0 0 Iron ore [No] 1 4 9 2 1 13 3 4 Coal [No] 0 0 0 0 0 0 0 0 Lithium [No] 0 0 0 2 0 0 2 2 Other [No] 2 4 2 3 0 6 3 3 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 7 27 23 11 4 50 15 19 Estimated number of - - 0 1 3 0 4 unreported discoveries Adjusted total (a) [No] 7 27 23 12 7 50 19 Metal Discovered(b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 4.1 29.5 16.5 0.6 0.4 45.9 1.0 2.2 Copper [Mt Cu] 4.0 45.6 0.0 24.7 2.4 45.6 27.1 47.6 Nickel [Mt Ni] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Zinc/lead [Mt Zn + Pb] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Uranium [kt U3O8] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 224 2943 1856 47 279 4799 326 669 Coal [Mt Coal] 0 0 0 0 0 0 0 0 Lithium [Mt Li] 0.0 0.0 0.0 5.2 0.0 0.0 5.2 8.0 346 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $26 $498 $698 $282 $153 $1,196 $435 $435 Base Metal (Cu, Ni, [Dec 2023 US$m] $58 $540 $1,288 $1,160 $533 $1,827 $1,693 $1,693 Zn/Pb) Copper [Dec 2023 US$m] $53 $515 $1,209 $981 $454 $1,723 $1,435 $1,435 Nickel [Dec 2023 US$m] $1 $23 $32 $1 $4 $55 $5 $5 Zinc/lead [Dec 2023 US$m] $5 $2 $47 $178 $75 $49 $253 $253 Uranium [Dec 2023 US$m] $0 $46 $40 $21 $0 $86 $21 $21 Diamonds [Dec 2023 US$m] $16 $300 $39 $1 $0 $339 $1 $1 Iron ore [Dec 2023 US$m] $0 $68 $545 $172 $1 $613 $172 $172 Coal [Dec 2023 US$m] $0 $0 $0 $0 $0 $0 $0 $0 Lithium (c) [Dec 2023 US$m] inc below inc below $0 $17 $68 inc below $85 $85 Other [Dec 2023 US$m] $1,458 $3,833 $3,401 $780 $1,219 $7,234 $1,999 $1,999 Total [Dec 2023 US$m] $1,559 $5,284 $6,010 $2,433 $1,974 $11,294 $4,407 $4,407 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 US$m/ $223 $196 $261 $221 $493 $226 $294 $232 deposit] Gold [Dec 2023 $6 $17 $42 $444 $407 $26 $430 $194 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $13 $11 n/a $40 $186 $38 n/a n/a US$/t Cu] Nickel [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Ni] Zinc/lead [Dec 2023 US$/ n/a n/a n/a n/a n/a n/a n/a n/a t Zn + Pb] Uranium [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore* [Dec 2023 $0.00 $0.02 $0.29 $3.66 $0.00 $0.13 $0.53 $0.26 US$/t Fe] Coal [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Coal] Lithium [Dec 2023 n/a n/a n/a $3 n/a n/a $16 $11 US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Prior to 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 347 EAST AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 11 12 40 13 2 52 15 18 Base Metal (Cu, Ni, [No] 2 5 1 3 0 6 3 3 Zn/Pb) Copper [No] 1 1 1 2 0 2 2 2 Nickel [No] 1 4 0 1 0 4 1 1 Zinc/lead [No] 0 0 0 0 0 0 0 0 Uranium [No] 0 1 0 0 0 1 0 0 Diamonds [No] 0 0 0 0 0 0 0 0 Iron ore [No] 1 1 2 0 0 3 0 0 Coal [No] 0 1 0 0 0 1 0 0 Lithium [No] 0 0 0 0 0 0 0 0 Other [No] 2 2 10 7 0 12 7 7 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 16 22 53 23 2 75 25 28 Estimated number of - - 0 2 1 0 3 unreported discoveries Adjusted total (a) [No] 16 22 53 25 3 75 28 Metal Discovered (b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 9.9 7.9 38.5 8.4 2.8 46.3 11.2 17.2 Copper [Mt Cu] 1.0 0.1 0.1 1.4 0.0 0.2 1.4 1.5 Nickel [Mt Ni] 0.9 1.7 0.0 0.0 0.0 1.7 0.0 0.0 Zinc/lead [Mt Zn + Pb] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Uranium [kt U3O8] 0.0 2.0 0.0 0.0 0.0 2.0 0.0 0.0 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 34 144 7155 0 0 7299 0 0 Coal [Mt Coal] 0 140 0 0 0 140 0 0 Lithium [Mt Li] 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 348 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $357 $591 $1,013 $556 $368 $1,603 $924 $924 Base Metal (Cu, Ni, [Dec 2023 US$m] $58 $245 $274 $127 $40 $519 $167 $167 Zn/Pb) Copper [Dec 2023 US$m] $20 $48 $114 $85 $17 $161 $102 $102 Nickel [Dec 2023 US$m] $29 $177 $127 $28 $19 $305 $47 $47 Zinc/lead [Dec 2023 US$m] $9 $20 $33 $14 $4 $53 $18 $18 Uranium [Dec 2023 US$m] $0 $40 $141 $18 $1 $181 $19 $19 Diamonds [Dec 2023 US$m] $12 $10 $10 $0 $0 $20 $0 $0 Iron ore [Dec 2023 US$m] $0 $0 $0 $0 $0 $0 $0 $0 Coal [Dec 2023 US$m] $0 $0 $0 $0 $0 $0 $0 $0 Lithium (c) [Dec 2023 US$m] inc below inc below $0 $2 $1 inc below $3 $3 Other [Dec 2023 US$m] $21 $78 $341 $174 $259 $418 $434 $434 Total [Dec 2023 US$m] $448 $963 $1,779 $878 $669 $2,742 $1,547 $1,547 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 $28 $44 $34 $38 $334 $37 $62 $55 US$m/deposit] Gold [Dec 2023 $36 $75 $26 n/a $133 $35 $83 $54 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $20 $612 $1,491 $61 n/a $1,046 $72 $67 US$/t Cu] Nickel [Dec 2023 $31 $107 n/a $883 n/a $183 $1,493 $1,276 US$/t Ni] Zinc/lead [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Zn + Pb] Uranium [Dec 2023 n/a $9.18 n/a n/a n/a $41.63 n/a n/a US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 $0.00 $0.00 $0.00 n/a n/a $0.00 n/a n/a US$/t Fe] Coal [Dec 2023 n/a $0.00 n/a n/a n/a $0.00 n/a n/a US$/t Coal] Lithium [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Prior to 2009, exploration expenditures on Lithium were included in the "Other" category. APPENDICES | 349 SOUTHERN AFRICA Number of Discoveries 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [No] 7 7 4 5 2 11 7 9 Base Metal (Cu, Ni, [No] 2 10 8 1 3 18 4 6 Zn/Pb) Copper [No] 1 7 7 1 3 14 4 6 Nickel [No] 0 2 1 0 0 3 0 0 Zinc/lead [No] 1 1 0 0 0 1 0 0 Uranium [No] 0 3 3 0 1 6 1 1 Diamonds [No] 3 8 5 1 0 13 1 1 Iron ore [No] 0 2 4 0 0 6 0 0 Coal [No] 1 10 9 0 0 19 0 0 Lithium [No] 0 0 1 1 3 1 4 6 Other [No] 5 11 12 9 2 23 11 13 ——- ——- ——- ——- ——- ——- ——- ——- Total [No] 18 51 46 17 11 97 28 36 Estimated number of - - 0 2 6 0 8 unreported discoveries Adjusted total (a) [No] 18 51 46 19 17 97 36 Metal Discovered (b) 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Moz Au] 23.5 22.6 5.6 30.3 5.3 28.2 35.6 55.6 Copper [Mt Cu] 0.9 11.0 6.2 0.5 9.3 17.3 9.8 44.8 Nickel [Mt Ni] 0.0 0.5 4.0 0.0 0.0 4.5 0.0 0.0 Zinc/lead [Mt Zn + Pb] 0.7 1.0 0.0 0.0 0.0 1.0 0.0 0.0 Uranium [kt U3O8] 0.0 34.9 8.5 0.0 3.8 43.4 3.8 8.5 Diamonds [M Carats] n/a n/a n/a n/a n/a n/a n/a n/a Iron ore [Mt Fe] 0 161 791 0 0 952 0 0 Coal [Mt Coal] 6399 15008 12124 0 0 27132 0 0 Lithium [Mt Li] 0.0 0.0 0.0 0.2 0.2 0.0 0.4 0.9 350 | MINERAL RESOURCES OF AFRICA Exploration Expenditures 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) Gold [Dec 2023 US$m] $193 $486 $625 $214 $265 $1,111 $479 $479 Base Metal (Cu, Ni, [Dec 2023 US$m] $266 $707 $1,823 $721 $454 $2,530 $1,175 $1,175 Zn/Pb) Copper [Dec 2023 US$m] $162 $455 $1,524 $542 $391 $1,980 $934 $934 Nickel [Dec 2023 US$m] $40 $122 $149 $24 $17 $272 $41 $41 Zinc/lead [Dec 2023 US$m] $62 $108 $107 $138 $44 $216 $181 $181 Uranium [Dec 2023 US$m] $1 $217 $658 $59 $75 $875 $134 $134 Diamonds [Dec 2023 US$m] $666 $2,433 $1,021 $582 $330 $3,454 $911 $911 Iron ore [Dec 2023 US$m] $31 $38 $68 $61 $148 $106 $208 $208 Coal [Dec 2023 US$m] $31 $38 $68 $61 $148 $106 $208 $208 Lithium (c) [Dec 2023 US$m] inc below inc below $1 $9 $56 inc below $65 $65 Other [Dec 2023 US$m] $372 $1,363 $1,747 $728 $498 $3,110 $1,227 $1,227 Total [Dec 2023 US$m] $1,559 $5,284 $6,010 $2,433 $1,974 $11,294 $4,407 $4,407 Average Unit Discovery Costs 2014–23 inc Est. 1999–03 2004–08 2009–13 2014–18 2019–23 2004–13 2014–23 Reported (a) ALL [Dec 2023 $87 $104 $131 $143 $179 $116 $157 $122 US$m/deposit] Gold [Dec 2023 $8 $21 $112 n/a $50 $39 $13 $9 US$/oz Au] Base Metal (Cu, Ni, Zn/Pb) Copper [Dec 2023 $180 $41 $245 $1,168 $42 $115 n/a n/a US$/t Cu] Nickel [Dec 2023 n/a $261 $37 n/a n/a $61 n/a n/a US$/t Ni] Zinc/lead [Dec 2023 $86 $108 n/a n/a n/a $216 n/a n/a US$/t Zn + Pb] Uranium [Dec 2023 n/a $2.81 $34.81 n/a $8.87 $9.08 $15.76 $7.09 US$/lb U3O8] Diamonds [Dec 2023 n/a n/a n/a n/a n/a n/a n/a n/a US$/Carat] Iron ore [Dec 2023 n/a $0.24 $0.09 n/a n/a $0.11 n/a n/a US$/t Fe] Coal [Dec 2023 $0.00 $0.00 $0.01 n/a n/a $0.00 n/a n/a US$/t Coal] Lithium [Dec 2023 n/a n/a $36 $41 $298 n/a $163 $72 US$/t Li] Note: (a) Includes an adjustment for unreported discoveries and likely growth in Resources. (b) Primary metal only. Excludes byproduct metal (such as any gold in copper deposits). (c) Prior to 2009, exploration expenditures on Lithium were included in the "Other" category. Sources: Expenditure data are MinEx Consulting estimates based on S&P Global Market Intelligence annual surveys. Discovery data from MinEx Consulting in July 2024.