The enormous continent of Africa, which is made up of 54 countries, is mineral-rich. For many nations on the continent, the exploration, mining, development, and production of these minerals account for a sizable portion of GDP. Bauxite, cobalt, and platinum group elements (PGEs) are among the minerals with the largest deposits found in Africa. Additionally, more than 170 ASX-listed businesses are operating in 35 countries, but we have selected a few ASX companies with bright prospects from the continent’s standpoint.
1. Golden Rim Resources Ltd (ASX: GMR)
With more potential from the 15-kilometre Kada Gold Corridor, Golden Rim Resources Ltd. (ASX: GMR) recently disclosed the first 930,000 gold resources at the Kada Joint Venture in Guinea. Early in April, the business began its 5000-metre RC drilling project at the corridor, and this month is when the first assays are anticipated. The corporation has also exercised its right to a third earn-in, increasing its stake to 75%. As of right now, the West African explorer holds a 51% stake in Kada. The 2 million-ounce Kouri Gold Project in Burkina Faso is also located inside Golden Rim.
2. West Wits Mining Ltd (ASX: WWI)
West Wits is a mining exploration and development company that is focused on finding gold in South Africa's Witwatersrand region. With its flagship Witwatersrand Basin project in the area, which has a mineral resource of 4.37 million ounces of gold at 3.88 g/t, it hopes to become a mid-tier gold producer.
3. Kinetiko Energy Ltd (ASX: KKO)
Kinetiko, which is solely dedicated to the exploration and commercialisation of coal bed methane and sandstone gas in South Africa, last month raised $3.1 million through a rights issue and received funding from well-known energy investor Phefo Power.
4. Tietto Minerals Ltd (ASX: TIE)
With its multi-million-ounce gold resource, the Abujar Gold Project in Côte D'Ivoire, West Africa, is Tietto's pride and joy. After erecting a semi-autogenous grinding (SAG) mill and removing topsoil to make room for the tailings storage facility, the team hopes to produce its first gold by the end of 2022.
5. Mako Gold Ltd (ASX: MKG)
Mako Gold is developing its flagship Napié Gold Project in Côte d'Ivoire, which is located in the West African Biriman Greenstone Belts, home to over 70 deposits with an estimated combined gold content of one million ounces.
6. Perseus Mining Ltd (ASX: PRU)
Three active gold mines in Africa are owned by Perseus, a certified gold producer, including Edikan in Ghana and Sissingué and Yaouré in Côte d'Ivoire. The three mines together have produced almost 371,000 ounces of gold so far in the 2022 fiscal year, bringing the firm closer to its 500,000-ounce annual production objective.
7. Theta Gold Mines Ltd (ASX: TGM)
With a variety of gold holdings in South Africa's renowned Eastern Transvaal Gold Fields, Theta intends to become the nation's top producer of gold. It has advanced to the point where the Environmental Impact Assessment (EIA) stage of the TGME Underground Project—which includes the gold mines of Beta, Frankfort, CDM, and Rietfontein—is being conducted.
8. Blackearth Minerals NL (ASX: BEM)
Blackearth Minerals' flagship project is the Maniry Graphite Project, located in southern Madagascar. The company finished drilling for diamonds last month, confirming the strike-wide continuity of the graphite mineralisation.
9. Oklo Resources Ltd (ASX: OKU)
Another gold ASX-based explorer, Oklo, controls an area of around 1405 square kilometres in Mali, West Africa, which has highly promising greenstone belts. Impressive drilling results were recently obtained from its flagship Dandoko project, showing high-grade gold mineralization of up to 22 g/t.
10. Apollo Minerals Ltd (ASX: AON)
With a 60-meter shallow zinc-lead strike this month, Apollon, focused on the Kroussou zinc-lead property in Gabon, reported the strongest-ever mineralization at the site. More results are anticipated in the upcoming weeks. The company now has two diamond drill rigs operating on-site, aimed at additional step-out expansions at Dikaki.
11. Polymetals Resources Ltd (ASX: POL)
Since Polymetals went public on the ASX in June of last year, the business has made significant strides, purchasing several gold assets in Guinea. Aeromagnetic surveys are currently being carried out, and the results should yield precise information on the nature and disposition of host rocks that are hidden by lateritic cover as well as the structural restrictions on mineralization.
12. Cobre Limited (ASX: CBE)
Botswana- Kalahari Belt supports high-grade copper production in Botswana and is regarded as one of the world’s most prospective areas that are yet to be discovered, with deposits that host sediments, making it a new copper belt. Furthermore, Botswana ranks in the top 10 countries globally for mining investment attractiveness by the Fraser Institute 2022. Advances in geological understanding and geophysical technology suggest a strong potential for exploration success. Cobre Ltd. (ASX: CBE) has a diversified investment portfolio, which allows it to mitigate risks while serving a variety of markets at a limited cost. Its in-situ recovery method offers a low operational and capital expenditure solution while being environmentally friendly, potentially producing green copper cathode on-site.
There are several Australian-listed companies with operations in Africa due to the continent’s strong prospects. From Cobre Limited (ASX: CBE) to Polymetals Resources Ltd. (ASX: POL), these companies have a unique chance to support the energy transition and place Africa at its centre. While others explore gold and non-essential minerals for the renewable energy transition, they still hold great potential as the region is one of the largest holders of the world’s natural resources.
