Uganda Central Bank Begins Gold Buying Programme as Global Prices Surge Past $5,000 The Bank of Uganda has announced it will begin purchasing gold from domestic producers this month, becoming the latest central bank to increase its bullion reserves amid surging global gold prices. The initiative forms part of a broader strategy to strengthen Uganda’s foreign exchange reserves and reduce exposure to global financial volatility, particularly as many central banks diversify away from the United
Ghana Launches ASM Gold Formalisation Program Targeting $20 Billion in Annual Foreign-Exchange Inflows Ghana plans to direct approximately 127 metric tons of artisanal and small‑scale mining (ASM) gold annually into official trade channels under revised sector reforms, aiming to increase foreign-exchange earnings and curb smuggling, Cassiel Ato Forson announced on Wednesday. Across Africa, ASM gold leakage costs countries billions each year as undeclared production is smuggled through porous borders to global trading hubs such as
Ghana Gold Output Reaches Record 6 Million Ounces in 2025 as Royalty Overhaul Raises Industry Concerns Ghana produced a record six million ounces of gold in 2025, according to provisional industry data, cementing its position as Africa’s top gold producer. Figures released by the Ghana Chamber of Mines show that large-scale mining operations delivered 2.9 million ounces, unchanged from the previous year. The bulk of growth came from artisanal and small scale mining (ASM), which
Tanzania Plans Partial Sale of Gold Reserves as Foreign Aid Declines in 2026 Tanzania is planning to sell a portion of its gold reserves to finance priority infrastructure projects, as international development assistance continues to decline. The announcement was made on Monday, January 26, 2026, in London by the Minister of State for Planning and Investment, Kitila Mkumbo, following instructions from President Samia Suluhu Hassan to the Bank of Tanzania. “Governments are no longer willing
Power Metal Resources Secures Environmental Approval and Prepares for Drilling at Tati Gold Project in Botswana AIM-listed Power Metal Resources, together with its option partner Tuscan Holding and its in-country operations team, has completed critical preparatory work for the next phase of activity at the company’s 100%-owned Tati Gold Project. The project is located on the highly prospective Tati Greenstone Belt near Francistown, Botswana. The progress follows the share option agreement entered into with Tuscan
Botswana Diamonds Enters Copper and Gold Exploration with 7,000 km² of New Licences in Botswana AIM- and BSE-listed Botswana Diamonds has announced the award of eight prospecting licences covering approximately 7,000 km² in north-western Botswana, marking a potential entry into the copper and gold sectors. The licences, which are valid until December 31, 2028, were selected following an extensive AI-driven assessment of the company’s Botswana-focused exploration database, which spans about 95,000 km². The analysis incorporated
Uganda’s Gold Exports Jump 76% to $5.8 Billion, Overtaking Coffee as Leading Export Uganda’s gold exports surged by 75.8% in 2025, reaching approximately $5.8 billion, marking a rapid transformation in the country’s export profile as gold overtook coffee as the leading source of foreign exchange. Data from the Bank of Uganda show shipments rose from about $3.3 billion in 2024, driven largely by record international gold prices that attracted new traders into the sector. Adam
Ethiopia Mining Sector: $340 Million Secured to Develop Tulu Kapi, the Country’s Largest Modern Gold Project Ethiopia has taken a decisive step toward transforming itself from a marginal gold producer into a significant player in Africa’s mining industry after securing approximately $340 million in financing to develop the long-delayed Tulu Kapi gold project, the country’s largest modern mining venture. The financing milestone clears the way for construction to begin on one of Ethiopia’s most important
ZCCM-IH Partners Ministry of Mines and MMR on Gold Exploration and Mining Project in Zambia ZCCM Investments Holdings Plc (ZCCM-IH) has signed a Memorandum of Understanding (MoU) with the Ministry of Mines and Mineral Development (MoMMD) and Mining Mineral Resources SAS (MMR) to collaborate on the development of a gold exploration and mining project in the Kikonge area of Mufumbwe District, North-Western Province. In a transaction announcement approved by the Lusaka Securities Exchange (LuSE) and
Angola’s First Gold Refinery Nears Completion, Testing Phase Set for December Endiama has announced that Angola’s first gold refinery—currently under construction in the Viana Industrial Park—is expected to begin its testing phase in the second half of December. The projection was shared this Thursday during a site visit by the company’s Chairman of the Board of Directors (PCA). According to an official statement accessed by VerAngola, the visit confirmed that the project is in its
