African Rainbow Minerals will spend R15.2bn over seven years redeveloping Bokoni in Limpopo, which it placed on care and maintenance in 2025, and will restart the Nkomati nickel mine for R753m.
JSE: ARIDiversifiedAfrican Rainbow MineralsDiversified South African mining group founded in 2003 by Patrice Motsepe through a merger of his mining interests, making him one of the first black industrialists to control a major JSE-listed miner. Motsepe remains its non-executive chairman.TSX: FMCopperFirst Quantum MineralsCanadian copper miner listed on the Toronto Stock Exchange whose Zambian operations were among its founding assets. Copper accounted for about 82% of its revenue as of 2025, with the rest coming from gold and nickel.
LSE: GLENDiversifiedGlencoreAnglo-Swiss commodity trader and miner listed in London and Johannesburg, and a member of the FTSE 100. Its industrial mining division spans copper, cobalt, zinc, nickel, coal and ferroalloys, complementing one of the world's largest physical commodity marketing businesses.
SSE: 603799Battery metalsHuayou CobaltChinese battery-materials group headquartered in Zhejiang that began processing Congolese cobalt in 2006 before moving into direct mining. It is the world's largest cobalt refiner by market share and is listed in Shanghai.
