The Copperbelt power interconnector will strengthen the DRC’s connection to the Southern African Power Pool, the regional body that links national grids and enables cross-border power trading. With an estimated construction cost of USD300 million, the transmission line will carry a thermal capacity of 700MW, enabling up to 550MW of competitively priced electricity to be imported into the DRC’s Copperbelt mining region. Its design allows for future capacity expansion to more than 1GW.

• The Kalumbila Kolwezi Interconnector spans 200km between Zambia and the DRC
• All necessary concessions, licences and authorisations have been secured
• Estimated construction cost stands at USD300 million
• The line will carry 700MW thermal capacity, enabling up to 550MW of imports into the DRC
• Future capacity expansion to over 1GW is accommodated in the design

Project Financing and Equity Structure

FIS-RDC, EnPower and Gridworks have confirmed their intention to invest equity in the project. Gridworks, a specialist transmission and distribution developer owned and funded by British International Investment, is the lead equity investor and majority shareholder. Trafigura has agreed to arrange a significant share of the project’s debt financing. Discussions are underway with Zambian entities regarding a potential stake in the Copperbelt power interconnector.

EnPower serves as the project developer, a licensed Congolese power trader and a member of the Southern African Power Pool. KKIP is the first investment announced by FIS-RDC since its establishment in October 2025. The DRC faces a structural energy deficit of more than 1GW, and the project is expected to support mining and refining projects currently constrained by insufficient cost-effective baseload power. The Copperbelt power interconnector is also expected to increase mining and refining output and fiscal contributions.

Emile Osumba, CEO of FIS-RDC, said: “KKIP is the Fund’s inaugural transaction, and it reflects precisely the mandate entrusted to us by the Government. By helping close the Copperbelt’s power deficit, the project will unlock industrial growth, skilled jobs and fiscal revenue for the DRC. By backing a project led by a private Congolese developer, FIS-RDC is demonstrating that sovereign capital can act as a catalyst for private investment rather than a substitute for it. And by co-investing alongside credible and experienced partners such as Gridworks, we are building the track record that will allow the Fund to mobilise further capital for the country’s strategic infrastructure.”

Marc Orphanides, Managing Director of EnPower, added: “This agreement is an important milestone towards executing this strategic transmission infrastructure, which will add significant capacity to meet the ever-growing power demand of the DRC mining industry. We are grateful to the authorities, stakeholders and communities in the DRC and Zambia, as well as the International Finance Corporation, for their support to KKIP, which will be the first privately developed and financed cross-border transmission infrastructure on the African continent.”

Benefits for Zambia and Regional Power Markets

KKIP will create export opportunities for Zambian power producers, provide transmission capacity for licensed operators and help spur the development of new generation. The participation of FIS-RDC alongside Gridworks and Trafigura will also strengthen cooperation between the DRC and Zambian governments.

• KKIP will open export routes for Zambian power producers
• Transmission capacity will be available for licensed operators
• Discussions on potential Zambian co-investment are underway

Gonzalo De Olazaval, Global Head of Metals and Minerals at Trafigura, commented: “Trafigura is proud to support this landmark power project in the DRC, part of our broader power strategy in Africa. Reliable, competitively priced power is a critical enabler of economic growth across the continent, and Trafigura is well placed to bring together the investment, infrastructure and partnerships needed to make these projects a reality. KKIP has the potential to unlock industrial growth in the DRC and Zambia, while also supporting job creation and local communities in both countries.”

Chris Flavin, CEO of Gridworks, said: “Gridworks is proud to be the lead equity investor in KKIP. This is an important regional integration project. Zambia and the DRC both stand to benefit from closer interconnection, and this project will give the Copperbelt access to reliable, competitively priced power and lay the foundation for further cross-border transmission investment across Southern Africa. While the project is anchored by mining offtake, there is capacity on the line to serve the wider population too. Connecting regional power markets and supporting efficient energy trading is key to sustained economic growth in the region. We look forward to working alongside our partners to deliver this important infrastructure.”

The Kalumbila Kolwezi Interconnector is expected to be the first privately developed and financed cross-border transmission infrastructure on the African continent.

Under the agreement, Neo will provide technical support and design input for the project’s final solvent extraction separation circuit, while securing rights to a portion of the project’s planned production. The collaboration is focused on recovering rare earth elements from stockpiled phosphogypsum residue generated as a by-product of fertiliser production.

Neo will receive offtake rights to 40% of the Phalaborawa project’s annual production of separated neodymium-praseodymium oxide, with a purity of more than 99%, as well as 65% of its annual mixed samarium-europium-gadolinium and heavy rare earth carbonate, known as SEG+. The material includes dysprosium and terbium, which are used in permanent magnet applications.

The agreement strengthens the commercial and technical framework around the Phalaborwa rare earth project, while the companies continue work toward binding long-form agreements.

Neo to Support Separation Circuit Development

Neo has completed technical due diligence on the project, including a review of Rainbow’s process for recovering rare earth elements from phosphogypsum before separation and purification. Neo described the project as a potential secondary source of magnetic rare earth feedstock for its operations.

As part of the collaboration, Neo will provide design input and technical support for the final solvent extraction circuit. The objective is to support the intended product mix and purity planned for the Phalaborwa rare earth project.

Test work is already underway in Estonia, followed by an integrated pilot-scale campaign planned in Johannesburg. The work is intended to help define and optimise the process from rare earth recovery through final separation.

The companies will also consider toll treating the remaining 35% of the SEG+ output at Neo’s facilities. Under the proposed arrangement, separated dysprosium, terbium and yttrium would be returned to Rainbow for marketing.

The collaboration would give Neo an additional source of rare earth feedstock for its European operations. Neo’s European platform includes rare earth separation and magnet manufacturing capabilities, including facilities in Estonia.

Offtake and Technical Agreements Still Pending

The MOU provides a framework for the two companies to advance technical and commercial cooperation around the Phalaborwa rare earth project, but it does not yet represent the execution of the definitive long-form agreements.

Rainbow and Neo have committed to work toward binding agreements covering the offtake and technical arrangements, with documentation already underway. The terms outlined in the MOU remain subject to the negotiation and execution of those definitive agreements.

The project is based on the recovery of rare earth elements from legacy phosphogypsum that is stored in above-ground stacks. Rainbow’s approach is therefore focused on recovering material from existing residue rather than developing a conventional new mining operation.

For Neo, the agreement could expand its access to magnetic rare earth materials while diversifying its raw material supply chain. For Rainbow, Neo’s involvement provides technical support for the final separation stage and a potential route into downstream processing and offtake markets.

The next steps for the Phalaborwa rare earth project will depend on ongoing test work, the planned pilot-scale campaign and the negotiation and execution of the binding agreements between Rainbow and Neo.

The agreement was signed by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and US Deputy Secretary of State Christopher Landau at the Nigerian Mission House in New York. The framework is intended to use government-to-government cooperation as a foundation for business-to-business transactions and greater mining investment in Nigeria’s solid minerals sector.

The agreement covers geological data and exploration, mineral development and processing, infrastructure, and technical capacity. These areas are intended to support the development of Nigeria’s mineral resources while creating opportunities for greater value addition within the country.

Nigeria’s government estimates the country’s mineral resources at about $700 billion. The framework forms part of efforts to attract foreign capital and strengthen the country’s position across the mineral value chain, with mining investment expected to support activity ranging from resource development to processing and related infrastructure.

Framework Covers Exploration, Processing and Infrastructure

The scope of the agreement extends across several areas relevant to mining development. Cooperation on geological data and exploration is intended to support efforts to identify and assess mineral opportunities, while mineral development and processing could encourage activity beyond the extraction of raw materials.

Infrastructure and technical capacity are also included in the framework, broadening its focus to the systems and capabilities required to develop mineral projects and support downstream operations. Nigeria has placed greater emphasis on local processing and value addition as part of its efforts to expand the economic contribution of the mining sector.

The framework also provides a basis for stronger commercial links between Nigerian and US businesses. Rather than identifying individual projects within the agreement itself, the governments have positioned it as a structure through which viable opportunities can subsequently be developed.

This creates potential scope for mining investment across exploration, mineral development, processing infrastructure and technical services, depending on the projects and commercial arrangements that emerge from the framework.

The agreement therefore establishes a broader platform for US companies and Nigerian counterparts to evaluate opportunities within the country’s mineral sector and develop commercial relationships around specific projects.

Implementation to Focus on Viable Mining Projects

The agreement establishes a framework for cooperation, but it does not by itself confirm specific mining projects, completed investments or committed financing for individual developments.

Nigeria’s government has indicated that the next stage will involve identifying viable projects, mobilising investment and building commercial partnerships. The stated objective is to translate the framework into concrete activity across the country’s mineral sector.

The implementation phase will determine how the framework develops into actual mining investment and project activity. Areas identified for cooperation could support projects involving exploration, mineral processing, infrastructure development and technical capabilities, subject to further agreements between the relevant parties.

For Nigeria, the framework supports efforts to attract foreign participation while increasing domestic value addition. For US companies, it creates a government-supported channel for evaluating commercial opportunities within Nigeria’s mining sector and assessing potential mining investment opportunities. Further progress will depend on project identification, investment mobilisation and the formation of business-to-business partnerships under the framework.

The Madaouela uranium project has been at the centre of a complex dispute dating back to 2024, when Niger revoked the operator’s exploitation permit and returned the asset to the state. That decision prompted international arbitration proceedings. Under the newly executed Mining Convention, the parties have agreed to a restructured arrangement that replaces the previous contested framework and sets defined terms for how uranium mining at the site may proceed going forward.

Niger’s mines ministry said in a statement that the country had prioritised dialogue and negotiation to open a new chapter centred on partnership and development. The statement did not provide detailed financial or contractual terms beyond the revised ownership structure.

New Ownership Structure and Legal Framework Under the Mining Convention

Under the terms of the Mining Convention, the Republic of Niger now holds a 40 percent interest in the Madaouela uranium project, up from a previous 20 percent stake. The project operator retains a 60 percent interest and remains responsible for operational oversight under the agreed framework. This shift reflects a broader trend across the Sahel region, where governments are seeking greater control over natural resources to increase state revenues from Niger mining and extractive industries.

The formal execution of the agreement also triggers steps to discontinue the historical arbitration proceedings that had been filed at the International Centre for Settlement of Investment Disputes. The parties had agreed in February 2025 to suspend those proceedings while pursuing a negotiated settlement, and in September 2025 they extended the pause by a further six months. With the Mining Convention now in place, the arbitration is expected to be formally wound down as part of the broader resolution.

The restructured relationship between Niger and the operator effectively ends the uncertainty that had surrounded the uranium mining asset since the permit revocation in 2024.

Next Steps for the Madaouela Uranium Project

With the Mining Convention formally executed, the focus for the Madaouela uranium project now shifts to the technical and resource-related work required to assess future development pathways. The immediate next steps include resource verification, technical review and an evaluation of potential approaches for advancing the project under the new framework.

No construction schedule, production timeline, financing arrangement or development cost has been announced. The project’s development status remains at an early stage, and any future decisions on how to progress Niger uranium extraction at the site will depend on the outcomes of the technical assessments now underway.

The process to formally discontinue the historical arbitration proceedings is also expected to advance in the coming months, closing the legal chapter that preceded the current agreement. The Mining Convention provides the foundation, but the path from framework to active uranium mining operations will be shaped by the results of the forthcoming reviews and the terms ultimately agreed for project financing and execution.

When combined with locomotive orders announced in 2024, the Wabtec Simandou services agreement brings the total value of Wabtec’s business related to the Simandou project to more than $1.2 billion. The scope of the contract reflects the long-term operational requirements of CTG’s railway infrastructure and the critical role that reliable locomotive performance plays in sustaining the movement of iron ore across a rail corridor stretching more than 600 kilometres.

Scope of the Wabtec Simandou Services Agreement

The services agreement covers a broad range of locomotive maintenance and support activities designed to keep CTG’s fleet operating at high levels of reliability. Under the terms of the Wabtec Simandou services agreement, the company will provide both scheduled and unscheduled maintenance, parts and component overhauls, parts management and logistics support. The contract also includes workforce training programs aimed at building local technical capacity, as well as advanced remote diagnostics that enable real-time monitoring of locomotive health and performance. Localisation activities form an additional part of the agreement, aligning with broader objectives to develop in-country capabilities around mining transportation infrastructure.

The locomotives supported under the agreement are Wabtec ES43AC Evolution Series units. These machines will operate on the CTG railway infrastructure that forms the backbone of the Simandou rail corridor, connecting the mining area with the Port of Morebaya. The railway is designed to transport iron ore while also supporting the movement of passengers and other non-mining goods, making it a multi-purpose transport link for the region.

Strategic Importance for Mining Transportation Infrastructure

The Simandou rail corridor is central to the logistics chain that connects one of the world’s largest undeveloped iron ore deposits with an export port facility. Spanning more than 600 km, the railway demands consistent locomotive availability and performance to handle the anticipated volumes of material movement. Long-term locomotive maintenance and support, of the kind covered by the Wabtec Simandou services agreement, are essential to sustaining the throughput and operational continuity that large-scale mining transportation infrastructure requires.

By securing this contract, Wabtec has positioned itself as a key partner in the ongoing operational readiness of the Simandou rail corridor. The agreement ensures that CTG’s locomotive fleet will benefit from sustained technical support, diagnostics capability and spare parts availability over the life of the contract, reducing the risk of unplanned downtime across the railway network.

The Wabtec Simandou services agreement, together with the previously announced locomotive orders, brings Wabtec’s combined commitments tied to the Simandou project to more than $1.2 billion, marking a substantial investment in the mining logistics infrastructure that will underpin the project’s transportation operations.

The mineral exploration agreement establishes structured terms under which the two countries will collaborate on resource assessment and the potential co-development of mineral resources. The framework builds on existing ties in mining development between Oman and Botswana. In April 2026, Minerals Development Oman and Botswana’s Exploration Investment Company had already signed a cooperation agreement covering geological evaluation and the joint development of mineral resources. The September agreement advances that relationship by setting out formal heads of terms for future cooperation in mineral exploration activities.

Mining Agreement Builds on Earlier Geological Evaluation Partnership

Eng Matar bin Salim al Badi, CEO of Minerals Development Oman, signed the agreement on the Omani side. Sisco Mashabele, CEO of Botswana Mining Investment Company, signed on behalf of Botswana. The involvement of both mining-focused entities signals that the framework is designed to facilitate practical cooperation in resource assessment and mining development rather than serve as a purely diplomatic instrument.

Botswana’s Minister of Energy and Minerals, Bogolo Joy Kenewendo, was among the senior officials present at the signing. On the Omani side, Sayyid Badr bin Hamad al Busaidi, Foreign Minister, said Oman was determined to advance relations with Botswana and expressed hope that the agreements would be fully implemented at the earliest to deliver tangible benefits to both countries.

Abdulsalam bin Mohammed al Murshidi, Chairman of Oman Investment Authority, said relations with Botswana were among the fastest-developing in terms of the number of projects and investments implemented and the speed of their execution. He noted that leaders of both countries have directed their teams to accelerate work to expand cooperation into additional sectors.

Nine Agreements Cover Mining, Energy and Investment Sectors

The mineral exploration framework was one of nine documents signed during the visit. Other agreements covered energy security, regional energy development, investment promotion, air services, pharmaceutical cooperation and the abolition of visa requirements for holders of diplomatic and special passports. The Oman Chamber of Commerce and Industry and Business Botswana also signed a memorandum of understanding to strengthen commercial ties.

Dr Phenyo Butale, Botswana’s Minister of International Relations, said the agreements would support investment in priority sectors including mining, energy, tourism and agriculture. He acknowledged the rapid development of bilateral relations and tangible results already achieved between the two countries.

The co-development framework on mineral exploration positions both nations to deepen their engagement in geological evaluation and resource assessment. With formal heads of terms now in place, the agreement provides a structured basis for future cooperation between Omani and Botswanan mining entities on mineral resources development.

The 88-kilometre power line connects Kurmuk to the Ethiopian electrical grid and is now supplying power needed to complete Kurmuk Mine commissioning and advance the site’s ramp-up. The connection includes associated substations and was completed by Ethiopian Electric Power under a 20-year power purchase agreement that provides electricity at a fixed rate of approximately US$0.04 per kilowatt-hour.

The infrastructure milestone comes as Allied Gold moves the project from construction into a series of operational readiness stages. The company said mining continues to advance, while ore stockpiles are being built to support plant feed as additional processing systems are commissioned.

Kurmuk Processing Systems Move Through Commissioning

First ore was fed through the crushing circuit earlier in September, with the handover of the circuit from the commissioning team to the operations team now under way. Allied Gold said the next stage will involve introducing ore to the grinding and downstream processing circuits as those systems are progressively completed and tested.

The company has established an ore stockpile of approximately one million tonnes and plans to increase that inventory to nearly 1.5 million tonnes, equivalent to around three months of planned ore feed ahead of full circuit commissioning. Initial mining is expected to come from the Dish Mountain and Ashashire open pits, which contain the project’s current mineral resources and reserves.

Across the site, individual systems are being completed, tested against design parameters and transferred from the construction and Kurmuk Mine commissioning team to operations. Electrical, instrumentation and other systems testing remains under way as the project progresses through its remaining commissioning activities.

Mine Moves Toward First Gold Production

Kurmuk is designed as a conventional truck-and-shovel open-pit operation with a carbon-in-leach processing plant. Allied Gold said the project contains 2.7 million ounces of Proven and Probable Mineral Reserves in the initial mining areas, with exploration continuing across the wider property to identify additional resources and extend the mine life.

The company expects to introduce first ore to the grinding circuit in the coming weeks, followed by first gold after further Kurmuk Mine commissioning is completed. Those milestones remain forward-looking and depend on the successful completion of the remaining work and testing at the site.

Allied Gold has identified Kurmuk as a major contributor to its production growth strategy, with initial full-year production guidance of 240,000 to 270,000 ounces and approximately 300,000 ounces in the following year. The mine is therefore progressing through Kurmuk Mine commissioning from infrastructure completion and processing tests toward the next stages of commissioning and eventual commercial operations.

The Gamsberg operation, associated with Vedanta Zinc International, serves as the site for this testing programme. Mining contractor Mota-Engil operates the Liebherr T 264 fleet at Gamsberg, with the trucks falling within the 240-tonne payload class. These are among the largest haul trucks used in surface mining, and the sheer scale of the equipment underscores why collision avoidance systems have become a critical safety requirement across the global mining sector.

Wabtec’s Gen 3 CAS Capabilities and the Integration Framework

Wabtec, the technology provider behind the Gen 3 Collision Avoidance System, has designed the platform to deliver multiple layers of safety and operational functionality. The system incorporates GNSS positioning, vehicle-to-vehicle communication and intervention controls that work together to detect potential collision scenarios and act on them. Beyond core collision avoidance, the Gen 3 CAS also provides monitoring capabilities, contextual voice advisory features and data analytics functionality intended to give operators and site managers richer situational awareness.

Several organisations are contributing to the testing at Gamsberg. IMT, which serves as Wabtec’s value-added partner and distributor across Southern Africa, is supporting the planning, integration, testing, commissioning and ongoing operational support phases of the programme. Nerospec Oscon, a technology integration partner, plays a key role through its TMMI platform, which interfaces directly with machine-control systems to enable real-time data retrieval and command execution. This layered approach to integration reflects the complexity involved in fitting advanced collision avoidance systems to large mining trucks that already run sophisticated onboard electronics.

Collision Avoidance Systems for Heavy Mining Haulage

Open-pit mining operations that rely on ultra-class haul trucks face persistent safety challenges related to vehicle interactions, blind spots and the movement of personnel and lighter vehicles around heavy equipment. Collision avoidance systems address these risks by providing automated detection and response capabilities that supplement operator awareness. As mines grow deeper and fleets expand, the demand for reliable and well-integrated collision avoidance systems continues to rise across the industry.

The Liebherr T 264 trucks at Gamsberg represent a meaningful test case for the Gen 3 CAS, given both the scale of the equipment and the operational demands of an active zinc mining environment. It is important to note that the current activity at Gamsberg is Technology Readiness Testing rather than a completed deployment or full operational rollout. The testing phase is designed to validate the system’s performance and integration before any broader operational adoption is considered.

The Gamsberg programme brings together Wabtec, IMT, Nerospec Oscon, Mota-Engil and the mine-side organisation in a collaborative effort to assess how the Gen 3 CAS performs under real operating conditions on the Liebherr T 264 fleet. Results from this testing phase will inform future decisions regarding the system’s readiness for wider use in heavy mining haulage applications.

Construction of the Mineral Processing Plant Is Already Underway

Shenghe Resources Board Chairman Xie Bing confirmed that the company deliberately chose Tanzania as its processing base, even though it operates heavy mineral sands projects in Mozambique, South Africa and Madagascar. Speaking during a visit by Minerals Minister Anthony Mavunde to Shenghe’s operations in Chengdu, China, Mr Xie said the company expects to complete the mineral processing plant within a short period.

“We have projects in Mozambique, South Africa and Madagascar, but we have chosen Tanzania as the centre for processing these minerals in Africa,” Mr Xie said.

Minister Mavunde welcomed the investment, noting that the decision to establish a processing plant in Tanzania was consistent with the country’s mining policy and legal requirement to add value to minerals locally. He directed Shenghe to speed up construction and ensure the plant is completed within the agreed timeframe, while also urging the company to finalize compensation payments for the few remaining areas affected by the project.

“This decision will contribute to job creation, increased revenue and the development of technology in mineral processing,” Mr Mavunde said.

The Facility Strengthens Tanzania’s Role in Regional Mineral Value Chains

Once operational, the mineral processing plant will serve as a processing point for heavy mineral sands from different African countries, potentially allowing Tanzania to capture a larger share of the value generated from the continent’s mineral resources. This development aligns with the Tanzanian government’s broader push to promote mineral beneficiation and reduce reliance on the export of unprocessed minerals.

The establishment of a facility capable of receiving mineral sands from multiple African nations could strengthen Tanzania’s position in regional mineral value chains while creating demand for supporting services and technical skills. For an industry that has long focused on extraction, the shift toward local processing represents a meaningful step in expanding the economic benefits derived from the mining sector.

Mr Xie also credited President Samia Suluhu Hassan’s administration for creating a favorable investment environment, saying it had encouraged Shenghe to expand its activities in the country. The government has been actively promoting investments that support local processing, technology transfer, employment and higher revenues from the mining sector.

The Pangani mineral processing plant adds to those efforts by positioning Tanzania not only as a producer of heavy mineral sands but also as a processing center for resources sourced from across Africa. As mineral beneficiation becomes an increasingly important priority for African mining nations, the progress at Tajiri signals that Tanzania is actively working to move up the mineral value chains that have historically been dominated by operations outside the continent.