Other Miners22 Apr 2026 10:30
Asked AI to find junior miners who built gold mines in countries not known for gold mining and with their market caps. Lick those lips:
Thor Explorations (TSXV: THX) Nigeria Segilola Built the first large-scale industrial gold mine in Nigeria's history. Poured first gold in 2021. ~£526 million
Centamin PLC (LSE: CEY) Egypt Sukari Pioneered modern mining in Egypt. Sukari was the first large-scale gold mine in the country in thousands of years (since the Pharaonic era). ~£1.69 billion
West African Resources (ASX: WAF) Burkina Faso Sanbrado While Burkina Faso had some mining, WAF is credited with the rapid development of the high-grade Sanbrado mine (2020), proving the potential of the country's "frontier" belts. ~AUD 3.78 billion
Perseus Mining (ASX: PRU) Côte d’Ivoire Sissingué / Yaouré One of the first juniors to successfully build multiple modern mines in Côte d’Ivoire, which was historically under-explored compared to neighbouring Ghana. ~AUD 7.71 billion
Shanta Gold (LSE: SHG) Kenya Kakamega (West Kenya) Currently developing what is cited as the largest gold find in Kenya in decades, effectively creating a modern gold sector in a country with no industrial history. ~£155 million
Many juniors that successfully build the first mine in a new country are quickly acquired by "Majors" looking for a foothold in the region.
Nevsun Resources (Eritrea): Built the Bisha Mine, the first modern mine in Eritrea (starting with gold before moving to copper/zinc). The company was acquired by Zijin Mining in 2018 for approximately $1.41 billion.
Red Back Mining (Mauritania): Built the Tasiast Mine, the first commercial gold mine in Mauritania. It was acquired by Kinross Gold in 2010 for $7.1 billion.
Teranga Gold (Senegal): Built the Sabodala Mine, the first commercial gold mine in Senegal. The company was acquired by Endeavour Mining in 2021 in a deal valued at $2 billion.
Aureus Mining (Liberia): Built New Liberty, the first commercial gold mine in Liberia. After facing financial hurdles during the Ebola crisis, it was eventually restructured and taken private by Avesoro Resources (MNG Gold).