Record number of central banks plan to keep buying gold, WGC survey finds
The World Gold Council's 2026 Central Bank Gold Reserves Survey drew a record 76 responses, with 89% of reserve managers expecting global gold holdings to keep increasing.
The World Gold Council's 2026 Central Bank Gold Reserves Survey drew a record 76 responses, with 89% of reserve managers expecting global gold holdings to keep increasing.
Goldman Sachs cut its year-end 2026 gold price target from $5,400 back to $4,900 on 20 June 2026, citing fading ETF inflows and the removal of expected rate cuts.
GoviEx Uranium and Niger's mining ministry held a week of technical and legal talks in Niamey in June 2026 aimed at drafting a new mining convention that could pave the way back to the Madaouela uranium project.
Guinea's Ministry of Mines and Geology on 18 June reviewed a feasibility study from Simfer and China Baowu Steel for a pellet plant with capacity of 2 million tonnes a year, meeting a Simandou co-development commitment.
Pan African Resources said multiple parties have approached it about co-investing in the Poplar gold project near Evander, an early-stage target estimated at 6.6 million ounces.
Zambia and Zimbabwe have each committed $220m in public equity to the long-delayed Batoka Gorge hydro scheme, a $4.2bn, 2,400MW project on the Zambezi, and held a market-sounding session in June 2026.
Lobito Atlantic Railway received its first copper shipment from the DRC in about two months after repairing flood-damaged track, restoring a key Congolese export route.
Turaco Gold has completed a pre-feasibility study for its Afema project in Côte d'Ivoire, outlining a 10.3-year mine producing about 200,000 ounces of gold a year.
Lobito Atlantic Railway has resumed carrying Congolese copper after floods in Angola's Benguela province cut the line in April 2026, restoring a key mineral export route to the Atlantic.
Wood Mackenzie estimated that sulphur supply disruption from the Iran war could remove up to 125,000 tonnes of copper output in the DRC, as acid prices more than doubled.
Zimbabwe delivered 3,951kg of gold to Fidelity Gold Refinery in May 2026, up 18.8% from April and the highest monthly total of the year so far.
Elevate Uranium has lifted the uranium resource at its Marenica project in Namibia by 31% to 52.8 million pounds, taking its total Namibian resource base above 116 million pounds.
Caledonia Mining released 2025 drilling results from its Motapa property in Zimbabwe, including 19m at 8.08g/t, and said a maiden resource would follow in the third quarter of 2026.
Zambia's power utility ZESCO says the country's electricity supply is stable and nationwide load management will not return this year, citing improved hydro, thermal and solar generation.
Guinea's bauxite exports keep setting records in 2026, but free-on-board prices have slid to around $38-39 a dry tonne as oversupply and rising freight costs squeeze producer margins.
Resolute Mining said Syama would produce only about 30,000oz in the June quarter, well below the 40,000-45,000oz expected, after security problems in Mali disrupted equipment deliveries and explosives supply.
Ivanhoe Mines' Kipushi mine in the DRC set a new monthly zinc production record in May, putting it on course to become the world's fourth-largest zinc producer this year.
Zambia has extended its 10% export duty waiver on copper concentrate to 30 September 2026, covering almost 272,000 tonnes, as smelter maintenance and outages limit domestic processing capacity.
Central banks made net gold purchases of 19 tonnes in April 2026, World Gold Council data published on 3 June showed, with Poland the largest single buyer.
Iron ore exports from Guinea's Simandou project reached 2.2 million tonnes in May, up from a record 1.3 million tonnes in April, suggesting bottlenecks at the Morébaya port are starting to ease.
Konkola Copper Mines began a planned 60-day maintenance shutdown of its Nchanga smelter on 29 May, with work scheduled to run to 25 July as part of Vedanta's modernisation plan.
South Africa's energy regulator Nersa has approved a concessionary 62c/kWh electricity tariff for ten ferrochrome smelters run by Samancor and Glencore-Merafe, a 75% discount to Eskom's standard rate.
Rhodium prices fell about 10% in ten trading days in late May 2026, dropping to around $9,000 an ounce as the market repriced from deficit to expected surplus.
South Africa's energy regulator has approved a concessionary 62c/kWh Eskom tariff for Samancor Chrome and Glencore-Merafe's ferrochrome smelters, aimed at halting further plant shutdowns.