MINING NEWS
Cora Gold $120m financing to fund Sanankoro to production
Deon de Kock appointed to lead Babcock’s operations in Africa
and South Asia at FLSmidth, and Vice President for South Europe, North Africa and the Middle East at Sandvik. n
Effective January 2026, Deon de Kock has been appointed Chief Executive – Africa at Babcock. An accomplished global business leader with more than 30 years of executive experience across industries and continents, De Kock is tasked with providing strategic direction and operational focus to support the growth of the business across the region. De Kock takes over from Roger O’Callaghan after more than two decades of leading Babcock Africa, effective January 2026. De Kock brings a wealth of global executive experience across the mining, engineering, industrial and energy sectors. He has previously held senior roles in large organisations and major multinationals, including President for Sub-Saharan Africa, the Middle East
Cora Gold, the West African focused gold company, has signed a binding term sheet for a US$120 million gold stream with Eagle Eye Asset Holdings to support development of the Sanankoro Gold Project in south Mali. Highlights of 2025 Definitive Feasibility development CAPEX of US$124 million. • Competitive opex – AISC of US$1,478/ oz driven by low strip ratios, soft ore and simple processing. Study ($2 750/oz gold price) • Low capital intensity – initial • Compelling economics – post-tax NPV8 of US$221 million and post-tax IRR of 65%. • Production – 64koz average annual gold production for the first five years. • At US$3,250/oz gold price the post-tax NPV8 is US$319m, post-tax IRR of 88% and AISC of US$1,568/oz. Bert Monro, Chief Executive Officer of Cora, commented, “Our September 2025 DFS, demonstrated the compelling economics of the Sanankoro Project, and we are now focused on advancing the Project into construction and ultimately delivering first gold. In parallel, we remain highly encouraged by the broader resource and greenfield upside across the project area and will continue to pursue a dual-track strategy of advancing development while systematically growing the resource base to support long-term production.”
Deon de Kock appointed Chief Executive – Africa at Babcock.
Investors commit over R105 billion to Northern Cape economic development
The Northern Cape province has announced that over R105 billion in pledges have been made by investors.
The mining industry investments included: • A R17 billion commitment by Vedanta Zinc International for expansion of its Gamsberg mine, which will make it the world’s largest zinc mine, as well as for the development of a smelter in the province. • An R11.2 billion commitment by Anglo American, which will include expansion of its Kumba Iron Ore operations in the province. • A R2.8 billion investment by Northern Cape Protech & Agri Revolution in mining, beneficiation and agriculture. • A R1.4 billion commitment by South32 for mining and beneficiation. n
The Northern Cape province has announced that over R105 billion in pledges have been made by investors in new and expanded mining, energy and agriculture projects in the Northern Cape, with an expected 19 800 new jobs to be created as a result. The investment accords were signed at the inaugural Northern Cape Investment and Jobs Conference in Kimberley this week. Northern Cape Premier Dr Zamani Saul said the new investor commitments took the province a long way toward achieving its target of growing the Northern Cape’s GDP from R164 billion to R200 billion and creating at least 60 000 new and sustainable jobs by 2030.
Cora Gold secures $120m to fund Sanankoro project development.
4 MODERN MINING www.modernminingmagazine.co.za | JUNE 2026
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