Madini Minerals aims to mine returns from African projects
Madini Minerals, a privately owned mining investment company, is slowly but surely adding to its portfolio of projects, moving into countries where others may be reluctant to go. Madini, which is based in Mauritius — and is considering a listing there — has an office in Johannesburg from where it launches itself into the rest of Africa, with investments in Zimbabwean gold, Rwandan tin and tantalum and Sierra Leone gold and iron ore. It is looking at another investment brought to it by one of its backers in Ghana in what CEO Iain Macpherson described last week as a "historically operational gold mine". He declined to give further details. Madini’s strategy was to seek out financially distressed mining projects that were either close to production or in production and bring cash from wealthy individuals or a commodity trading company in exchange for offtake rights, Macpherson said. It is close to finalising terms with a commodity trading company to make an investment in an early-stage...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.