"We're not looking at adding more development projects, but looking at mines that are in production that don't fit the criteria for some majors," CEO says.

Vedanta Resources said it has reached an “advanced stage” of executing agreements with the Zambian government over Konkola Copper Mines.

A review of the mining code in January had shown that Mali, one of Africa's biggest gold producers, was not receiving a fair share of profits while granting too many tax breaks.

Glencore and Anglo American Platinum are among the companies attempting to secure half of that amount in financing by the end of the year.

Under the new accord, Botswana’s state-owned diamond trader will get 30% of the output from Debswana.

Zijin Mining and Norinco Group, Sibanye Stillwater and an investment vehicle owned by ex-Glencore officials have been shortlisted in the race.

The DRC produces about 70% of the world’s cobalt and also has major deposits of copper, lithium, tantalum, and germanium.