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Nedbank Corporate and Investment Banking has approved a $700 million loan to support Ivanhoe Mines' expansion of the Platreef platinum group metals (PGM) project in South Africa.

The funding will support the construction of the Phase two concentrator at Platreef, a 3.3 million ton-per-annum processing facility whose development began in April 2026.

The transaction comes at a time when South Africa seeks to mobilize R2 trillion over the next five years to unlock its critical minerals potential.

Nedbank's financing highlights the growing role of South Africa's banking sector in bridging the capital gap required to develop large-scale mining projects. This is increasingly critical as the country looks to unlock an estimated R40 trillion in iron ore potential, while maintaining its position as the world's largest PGMs, chrome and manganese producer.

For Africa, the transaction highlights how the region can leverage its domestic capital pools, with non-bank institutional funding sources across Africa now exceeding $2 trillion. Combined with commercial banking and international investment flows, these capital bases can play a central role in unlocking the continent's $8.5 trillion worth of untapped mineral resources while reducing reliance on external funding sources.

Innovating financing mechanisms will be crucial as an increasing number of mining jurisdictions seek fresh capital to finance mining value chain projects. For instance, the Democratic Republic of Congo is pursuing financing to unlock an estimated $24 trillion in mineral resources while Zimbabwe seeks to raise $950 million to scale production across gold, lithium, platinum and chrome assets.

Against this backdrop, Africa's mining investment outlook and broader financing strategies will be a key focus at African Mining Week (AMW) 2026 – The Most Influential Mining Conference in Africa – taking place in Cape Town from October 14–16. The event will convene global financiers, central banks, sovereign wealth funds, mining companies and development institutions to explore mechanisms for unlocking capital across Africa's mining sector.

Distributed by APO Group on behalf of Energy Capital & Power.

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Amid a strategy to expand from a South Africa-focused refiner into a pan-African downstream leader, Rand Refinery has joined African Mining Week (AMW), an Influential African Mining Conference, scheduled for October 14-16, 2026 in Cape Town, as a silver sponsor.

Rand Refinery's participation reflects a broader strategic alignment between the company's expansion agenda and AMW's focus on supporting and enabling local beneficiation and promoting artisanal and small-scale mining (ASM) responsible sourcing frameworks.

In terms of volumes, the latest market information indicates that Africa produces 1000tpa of mined gold (more than any other continent), with large-scale mining (LSM) and ASM being almost evenly balanced (500tpa production each). On its current trajectory, African ASM volumes are expected to eclipse those of LSM.

The focus on ASM as a transformational imperative is valid, and Rand Refinery is an active participant in the precious metals supply chain, working alongside other upstream and downstream actors to ensure that the communities and countries with gold resources benefit in a sustainable manner.

Under the theme Mining the Future: Unearthing Africa's Full Mineral Value Chain, AMW 2026 offers a critical interface between refiners, miners, regulators, and financial institutions, as African countries intensify efforts to capture more value from responsible mineral production.

A key pillar of Rand Refinery's 2026 strategy is its expansion into high-growth gold markets beyond South Africa. In January 2026, the company partnered with Ghana's Gold Coast Refinery (GCR) to support the Ghana Gold Board to locally refine artisanal and small-scale (ASM) gold and elevate responsible sourcing standards in West Africa. The partnership also positions Rand Refinery in a rapidly growing and historically fragmented supply segment: ASM operations, enabling the company to enhance traceability and strengthen compliance with global standards for ethical sourcing and anti-money laundering.

The partnership potentially allows the monetization of ASM supply streams in the formal gold ecosystem, complementing Rand Refinery's established role in refining output from responsible large-scale producers. AMW 2026 represents a timely platform for the company to provide an update on its projects and contribution to Africa's gold sector.

As demand for regional refining capacity expands, along with central bank buying programs, companies such as Rand Refinery will be crucial.

Central bank gold purchases are projected to average around 585 tons per quarter in 2026, underscoring sustained global demand. In Africa, gold now accounts for approximately 17% of total reserves – up from less than 10% in 2022–2023 – while physical holdings increased from 663 tons in 2022 to an estimated 738 tons in 2025.

This upward trajectory is driving demand for trusted refining and value addition services, positioning Rand Refinery as a key partner in the region. Against this backdrop, AMW provides a strategic platform for central banks and gold buyers to engage directly with one of the world's largest integrated single-site precious metals refining and smelting complexes and strengthen regional beneficiation and national reserve strategies.

At AMW, Rand Refinery executives will participate in panel discussions and networking sessions, engaging stakeholders on partnership opportunities that support a more integrated, transparent and value-driven African gold ecosystem.

Distributed by APO Group on behalf of Energy Capital & Power.

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African Mining Week (AMW) – taking place on October 14 to 16 in Cape Town - will highight the growing role of mining services companies as critical enablers of Africa's transition from resource - rich to project - ready. As the continent works to unlock an estimated $8.5 trillion in untapped mineral wealth, these firms are emerging as key drivers of capital mobilization, technical delivery and accelerated project timelines.

A structural shift is underway. Mining services companies are no longer confined to contractor roles - they are evolving into integrated project partners, shaping how mines are financed, engineered, built and operated. Their influence now sits at the intersection of capital markets, infrastructure development, energy systems and industrial policy, positioning them as central players in Africa's next phase of mining - led growth.

This evolution is already visible in project activity across the continent. In April 2026, Metso inaugurated a new regional hub in Cape Town, strengthening its bulk material handling and services capabilities across Africa. The facility enhances automation, logistics and lifecycle services across key commodity value chains - including coal, platinum group metals and manganese - directly supporting South Africa's strategy to scale mineral exports and industrial output.

Geopolitics is further amplifying this trend. Major global economies are increasingly leveraging their EPC and mining services companies as strategic tools to secure supply chains and expand influence. Institutions such as the Export-Import Bank of the United States are backing American participation in African mining, while China, Europe, Canada and Australia continue to embed their services companies into financing and development frameworks across the continent.

Australia's Lycopodium is advancing Namibia's Twin Hills project, while China's JCHX Mining Management is supporting copper production at Botswana's Khoemacau Mine. In Guinea, XCMG Machinery is contributing to development at the Simandou iron ore project – one of the largest untapped deposits globally.

Across key mining jurisdictions, this shift is accelerating project pipelines. Countries such as the Democratic Republic of the Congo, Zambia, Ghana, Liberia and South Africa are increasingly relying on mining services firms to fast-track national geomapping exercises, exploration, scale production and advance beneficiation.

Against this backdrop, AMW will bring together global EPC firms, mining services providers, investors and African developers. The event is set to catalyze partnerships and deal-making, with a focus on strengthening execution capacity, unlocking financing and accelerating the delivery of mining projects that can anchor Africa's industrial growth and global supply chain integration.

Distributed by APO Group on behalf of Energy Capital & Power.

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Shirley Webber, Managing Principal and Coverage Head for Resources & Energy at Absa Bank, has joined the advisory board of African Mining Week (AMW) 2026 – The Most Influential Mining Conference in Africa.

Webber's appointment strengthens AMW's mission to mobilize the capital needed to unlock Africa's vast mineral wealth and cement the continent's role as a cornerstone of resilient global supply chains. As an advisory board member, she will guide strategic discussions and help shape the conference agenda on financing, investment partnerships, and sustainable mining development.

A seasoned corporate and investment banker with more than two decades of experience, Webber will contribute to AMW's efforts to bridge Africa's mining investment gap, as the continent seeks to unlock an estimated $8.5 trillion in untapped mineral resources. Achieving a sustainable, high-value mining sector will require annual investment to rise to more than $160 billion by 2050. AMW 2026 will convene global investors, policymakers, and industry leaders to explore financing solutions, strategic partnerships, and project development across Africa.

African nations are already seeking significant capital to realize their resource potential. The Democratic Republic of the Congo holds an estimated $24 trillion in untapped mineral resources, while South Africa aims to mobilize around R2 trillion in mining investment over the next five years to expand its critical minerals sector. Webber's expertise in finance and investment structuring will support AMW's mission to meet these financing requirements and strengthen the continent's mining value chain.

Since joining Absa in 2011, Webber has played a pivotal role in advancing the bank's support for resources and energy projects across Africa. Under her leadership, Absa has backed several major projects, across various geographies and commodities including rare earths,copper, platinum group metals and various other energy minerals and metals. Webber has also worked with leading global mining, energy and trading companies active on the African continent.

Distributed by APO Group on behalf of Energy Capital & Power.

African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2026 conference from October 12-16 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@energycapitalpower.com.