Where the public record disagrees with itself
See the reconciliation before someone in the committee room finds it for you.
Afrimintel checks African mining numbers against the issuer’s own filings — each figure dated and sourced, and every gap marked Absent rather than filled. Below, one live record: the same asset, three filings, guidance restated twice.
As guided, 3 December 2025
380,000–420,000 t contained copper — 2026 guidance
As restated, 31 March 2026 — then again, 29 July
290,000–330,000 t copper anodes — 2026, revised
290,000–310,000 t copper — 2026, narrowed again
The issuer restated both years in its own filing, dated, with a stated cause. Disclosure working as intended — not a finding. Three filings, three ranges. Two further things the documents show. The range guided for 2026 in December is the range guided for 2027 in March. And the measure moved with it: December guides contained copper, March guides copper anodes — a different point in the chain, across the smelter that took first feed at the end of December. We state the basis on each side and draw no conclusion from either.
Interest disclosure: this record covers a DRC asset. Afrimintel’s Editor-in-Chief holds two Great Lakes positions — Honorary Consul of Rwanda in Mauritius, and Chairman of MUA Insurance Rwanda — neither involving mining, mineral assets or any company named here. Full statement.
Afrimintel states no verdict. The record shows what each filing says, on what basis, as at what date. The conclusion is yours to draw — which is exactly what makes it usable in a committee paper. See the method.
Prefer the raw data? Open the machine-readable record — the same divergences, as JSON.
Nothing to unlock to see the work. Pricing comes after you’ve read one.
Every number is one of three things. Never a fourth.
Sourced — a named document with its date. Derived — arithmetic from Sourced inputs, method shown. Absent — the record doesn’t carry it, and we say so. The standard in full · the full corpus.
The two questions people actually ask
Why not just read the filings myself? You can, and for one asset you probably should. The Kamoa record above took two primary documents four months apart, plus a third filed in July, to reconcile into one line. Multiply that by the assets in a screening pass and it stops being an afternoon.
Can I cite this in a committee paper? Yes, with one condition we impose on ourselves as much as on you. Every figure carries a named primary document and a date, and the citation format sits in each record — so when counsel asks where a number came from, you have an answer rather than a shrug. Where a figure is Derived (our arithmetic from stated inputs) or Absent (no public figure exists), our terms require you to carry that label with it. A sourced figure stands on the issuer’s filing; a derived one stands on our method, and the reader is entitled to know which. We render no verdict, which is what makes the output usable in a paper you sign.
The next filing lands whether or not you’ve read the last one.
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