{ "name": "DFI Integrity, Sanctions & Beneficial-Ownership Screen", "scope_note": "Per-asset integrity screen over the 13-asset COI-clean DFI financeability pipeline — the gate the E&S screen explicitly does not cover. It routes a DFI's own KYC: sponsor and ultimate-beneficial-ownership transparency, a desk-level sanctions/PEP indicator, and SOE-governance exposure where a state co-owns the asset. CRITICAL FRAMING: this layer POINTS the institution's integrity screen — it does NOT run it. Sanctions/PEP cells are desk-level indicators from public listing disclosure, never a licensed-database clearance, and flags are neutral diligence-routing markers, not allegations. Each cell is Sourced / Derived / Absent. METHOD NOTE: ownership flags are STRUCTURAL — reduced UBO transparency on delisting, SOE governance, frontier-jurisdiction, and critical-minerals end-use — not nationality-based. Sanctions cells where no screen was run are marked Absent (an explicit non-performance), not Derived.", "feed_version": "v2.57.0", "as_of": "2026-06-29", "standard_spine": "FATF / OFAC-EU-UN sanctions · PEP & UBO (FATF Rec. 24/25) · SOE-governance", "three_state": "Sourced (public listing/ownership disclosure) · Derived (desk-level indicator / inference, method named) · Absent (named, never filled)", "counterparty_disclosure": "Afrimintel has no commercial relationship with any operator, financier, DFI or ECA named on this page. This screen is self-produced from public primary and authoritative secondary sources and Afrimintel's published data layer; no party named has reviewed, endorsed, or been informed of it.", "coi_screen": "COI-clean pipeline: no DRC, Rwanda or Great Lakes asset. This is a data-layer screen only — no editorial opinion on any operator, financier or jurisdiction. Integrity flags here are neutral diligence-routing markers, not allegations.", "counts": { "total": 59, "listed_public": 54, "enhanced_diligence_flag": 15, "sanctions_not_run": 53, "screening_priority": { "STANDARD": 39, "ELEVATED": 17, "HIGH": 3 } }, "assets": [ { "id": "kabanga-ni", "name": "Kabanga Nickel", "country": "Tanzania", "sponsor": { "value": "Lifezone Metals — NYSE-listed (LZM); subject to U.S. listing disclosure", "state": "Sourced", "source": "Lifezone Metals listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); Tembo Nickel is a JV with the Government of Tanzania", "state": "Derived", "source": "Lifezone disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State co-shareholder (GoT) — standard SOE-governance / PEP routing applies", "state": "Derived" }, "screen": "Points integrity screen — NYSE-listed sponsor (transparent); GoT JV invokes routine SOE-governance diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "baomahun", "name": "Baomahun", "country": "Sierra Leone", "sponsor": { "value": "FG Gold — private (unlisted) sponsor", "state": "Sourced", "source": "FG Gold disclosure" }, "ultimate_bo": { "value": "Private ownership — ultimate beneficial ownership requires confirmation by the institution", "state": "Absent", "note": "Private sponsor: UBO not on a public exchange register." }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle); private-sponsor status warrants enhanced UBO/sanctions diligence", "state": "Derived", "note": "Desk-level indicator only, from public listing/disclosure — NOT a licensed sanctions/PEP database screen, which the institution runs itself." }, "pep_soe_exposure": { "value": "DFI lenders (AFC/Afreximbank) already ran their own integrity DD at the Dec-2025 close", "state": "Derived", "source": "AFC/Afreximbank close, Dec 2025" }, "screen": "Points integrity screen — PRIVATE sponsor: enhanced UBO/sanctions diligence; AFC/Afreximbank ran lender DD at close", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "undisclosed private UBO (requires institutional confirmation; AFC/Afrexim ran lender DD at Dec-2025 close)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "ngualla-ree", "name": "Ngualla (rare earths)", "country": "Tanzania", "sponsor": { "value": "Peak Rare Earths — ASX-listed (PEK); Shenghe Resources (China-listed) is a strategic shareholder; GoT 16%", "state": "Sourced", "source": "Peak Rare Earths disclosure" }, "ultimate_bo": { "value": "Listed-company chain; Chinese strategic shareholder and state equity both on the register", "state": "Derived", "source": "Peak Rare Earths / SII disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle); a Chinese strategic shareholder warrants enhanced ownership/end-use diligence (critical minerals)", "state": "Derived", "note": "Desk-level indicator only, from public listing/disclosure — NOT a licensed sanctions/PEP database screen, which the institution runs itself." }, "pep_soe_exposure": { "value": "State co-shareholder (GoT 16%) — SOE-governance routing applies", "state": "Derived" }, "screen": "Points integrity screen — ASX-listed; Chinese strategic shareholder + GoT equity invoke enhanced ownership / SOE diligence", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "Chinese ownership / strategic-shareholder exposure" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kone", "name": "Kone", "country": "Cote d'Ivoire", "sponsor": { "value": "Montage Gold — TSXV-listed (MGL); subject to Canadian listing disclosure", "state": "Sourced", "source": "Montage Gold listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); state 10% free-carry", "state": "Derived", "source": "Montage disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State free-carry (10%) — routine SOE-governance routing", "state": "Derived" }, "screen": "Points integrity screen — TSXV-listed sponsor (transparent); routine state-carry SOE diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "nyanzaga", "name": "Nyanzaga", "country": "Tanzania", "sponsor": { "value": "Perseus Mining — ASX/TSX-listed (PRU); subject to dual-exchange disclosure", "state": "Sourced", "source": "Perseus listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); GoT 20%", "state": "Derived", "source": "Perseus disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State co-shareholder (GoT 20%) — routine SOE-governance routing", "state": "Derived" }, "screen": "Points integrity screen — ASX/TSX-listed (transparent); GoT 20% invokes routine SOE diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "assafou", "name": "Assafou", "country": "Cote d'Ivoire", "sponsor": { "value": "Endeavour Mining — LSE/TSX-listed (EDV) major; subject to dual-exchange disclosure", "state": "Sourced", "source": "Endeavour listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); state 10% free-carry", "state": "Derived", "source": "Endeavour disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State free-carry (10%) — routine SOE-governance routing", "state": "Derived" }, "screen": "Points integrity screen — LSE/TSX-listed major (transparent); routine state-carry diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "doropo", "name": "Doropo", "country": "Cote d'Ivoire", "sponsor": { "value": "Resolute Mining — ASX/LSE-listed (RSG); subject to dual-exchange disclosure", "state": "Sourced", "source": "Resolute listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); state 10% free-carry", "state": "Derived", "source": "Resolute disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State free-carry (10%) — routine SOE-governance routing", "state": "Derived" }, "screen": "Points integrity screen — ASX/LSE-listed (transparent); routine state-carry diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "ewoyaa", "name": "Ewoyaa (lithium)", "country": "Ghana", "sponsor": { "value": "Atlantic Lithium — AIM/ASX/GSE-listed (AIM: ALL, ASX: A11, GSE: ALLGH); Ghana MIIF holds state equity", "state": "Sourced", "source": "Atlantic Lithium listing" }, "ultimate_bo": { "value": "Listed-company chain; MIIF (state) on the register. Funder identity is cross-feed-inconsistent (strategic-partner vs Huayou) and should be reconciled", "state": "Derived", "source": "Atlantic Lithium disclosure", "note": "Cross-feed inconsistency flagged: financeability says Huayou, safeguards says strategic-partner." }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle); reconcile and screen the actual current funder", "state": "Derived", "note": "Desk-level indicator only, from public listing/disclosure — NOT a licensed sanctions/PEP database screen, which the institution runs itself." }, "pep_soe_exposure": { "value": "State co-shareholder (MIIF) — SOE-governance routing applies", "state": "Derived" }, "screen": "Points integrity screen — AIM/ASX/GSE-listed; MIIF state equity; reconcile + screen the current funder (Huayou vs strategic-partner)", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kurmuk", "name": "Kurmuk", "country": "Ethiopia", "sponsor": { "value": "Allied Gold — TSX/NYSE-listed (AAUC); Govt of Ethiopia 7% at production", "state": "Sourced", "source": "Allied Gold listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); KGM ~70% Allied / Govt 7%", "state": "Derived", "source": "Allied NI 43-101 TR" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State co-shareholder (Ethiopia 7%) — routine SOE-governance routing", "state": "Derived" }, "screen": "Points integrity screen — TSX/NYSE-listed (transparent); Ethiopia 7% invokes routine SOE diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "twin-hills", "name": "Twin Hills", "country": "Namibia", "sponsor": { "value": "Shanjin International Gold (China) — acquired the TSXV-listed Osino Resources in 2024", "state": "Sourced", "source": "Osino / Shanjin disclosure" }, "ultimate_bo": { "value": "Chinese acquirer-controlled chain (Osino delisted on acquisition) — UBO transparency reduced vs a listed sponsor", "state": "Derived", "source": "Shanjin acquisition disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle); a Chinese acquirer-controlled structure warrants enhanced ownership diligence", "state": "Derived", "note": "Desk-level indicator only, from public listing/disclosure — NOT a licensed sanctions/PEP database screen, which the institution runs itself." }, "pep_soe_exposure": { "value": "Local 5% carried interest + affirmative-action conditions — Namibian-stakeholder governance routing", "state": "Derived" }, "screen": "Points integrity screen — Chinese acquirer-controlled (post-delisting): enhanced UBO/ownership diligence", "screening_priority": { "state": "Derived", "value": "HIGH", "drivers": [ "Chinese-acquirer-controlled / delisted ownership chain" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kokoseb", "name": "Kokoseb", "country": "Namibia", "sponsor": { "value": "Wia Gold — ASX-listed (WIA); Epangelo (Namibia state) 20%", "state": "Sourced", "source": "Wia Gold listing" }, "ultimate_bo": { "value": "Listed-company ownership chain (transparent); state co-owner Epangelo 20%", "state": "Derived", "source": "Wia disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle)", "state": "Absent", "note": "No sanctions/PEP screen was performed in this cycle — this is an explicit absence, not a clearance; the institution runs the licensed screen." }, "pep_soe_exposure": { "value": "State co-shareholder (Epangelo 20%) — routine SOE-governance routing", "state": "Derived" }, "screen": "Points integrity screen — ASX-listed (transparent); Epangelo 20% invokes routine SOE diligence", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kalana", "name": "Kalana", "country": "Mali", "sponsor": { "value": "Endeavour Mining — LSE/TSX-listed (EDV); Mali state 20% (SOMIKA)", "state": "Sourced", "source": "Endeavour listing" }, "ultimate_bo": { "value": "Listed-company chain (transparent); Mali state 20%", "state": "Derived", "source": "Endeavour disclosure" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle); Mali's jurisdiction (military-transition government, 2023 code) warrants enhanced country-integrity diligence", "state": "Derived", "note": "Desk-level indicator only, from public listing/disclosure — NOT a licensed sanctions/PEP database screen, which the institution runs itself." }, "pep_soe_exposure": { "value": "State co-shareholder (Mali 20%) under a transitional government — heightened SOE/jurisdiction routing", "state": "Derived" }, "screen": "Points integrity screen — listed sponsor (transparent); enhanced Mali jurisdiction/SOE diligence (transitional govt)", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Mali)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "colluli-potash", "name": "Colluli (SOP potash)", "country": "Eritrea", "sponsor": { "value": "CMSC — Sichuan Road & Bridge Group (SRBG, a Chinese state-owned enterprise) 50% / ENAMCO (Eritrean state) 50%", "state": "Sourced", "source": "AidData / Danakali" }, "ultimate_bo": { "value": "Two state-owned co-owners (Chinese SOE + Eritrean SOE); no listed-sponsor transparency layer — UBO is state on both sides", "state": "Derived", "source": "AidData" }, "sanctions_screen": { "value": "No sanctions designation is publicly known to Afrimintel (not run against a sanctions database this cycle); jurisdiction note — Eritrea's prior UN sanctions were lifted in 2018; an SOE-on-SOE structure in a frontier jurisdiction warrants elevated integrity diligence here", "state": "Derived", "source": "Mining.com (Eritrea UN sanctions lifted 2018)", "note": "Desk-level indicator only, from public listing/disclosure — NOT a licensed sanctions/PEP database screen, which the institution runs itself." }, "pep_soe_exposure": { "value": "Both co-owners are state entities (SRBG, ENAMCO) — full SOE-governance / PEP routing applies on both sides", "state": "Derived" }, "screen": "Points integrity screen — elevated routing flag: Chinese-SOE + Eritrean-SOE ownership, frontier jurisdiction (UN sanctions lifted 2018); enhanced UBO/sanctions/PEP diligence", "screening_priority": { "state": "Derived", "value": "HIGH", "drivers": [ "closed-authoritarian, sanctions-exposed jurisdiction (Eritrea — no comprehensive embargo; targeted measures + state-JV counterparty)", "Chinese ownership / strategic-shareholder exposure", "state-JV / state-participated control (beyond routine free-carry)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kasiya", "name": "Kasiya (rutile-graphite)", "country": "Malawi", "operator": "Sovereign Metals (Rio Tinto 19.9%)", "sponsor": { "value": "Sovereign Metals Limited (ASX:SVM, AIM:SVML, OTCQX:SVMLF)", "state": "Sourced", "source": "Sovereign disclosures" }, "ultimate_bo": { "value": "Publicly listed (ASX/AIM); Rio Tinto 19.9% strategic shareholder", "state": "Sourced", "source": "Sovereign / Crux" }, "sanctions_screen": { "value": null, "state": "Absent", "note": "No sanctions screen run." }, "pep_soe_exposure": { "value": "Rio Tinto (major, LSE/ASX-listed) strategic shareholder; no state ownership", "state": "Sourced", "source": "Sovereign / Crux Investor" }, "screen": "Listed (public disclosure) with Rio Tinto strategic backing; clean structure — sanctions screen not run", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "etango", "name": "Etango (uranium)", "country": "Namibia", "operator": "Bannerman Energy / CNNC (CNOL) JV", "sponsor": { "value": "Bannerman Energy (ASX:BMN) via BMRN (95% Bannerman / 5% One Economy Foundation Namibia)", "state": "Sourced", "source": "Africa Outlook 2026" }, "ultimate_bo": { "value": "Bannerman 55% / CNNC via CNOL 45% in the project JV — a Chinese state nuclear SOE as 45% partner", "state": "Sourced", "source": "Bannerman Feb 2026" }, "sanctions_screen": { "value": null, "state": "Absent", "note": "No sanctions screen run." }, "pep_soe_exposure": { "value": "CNNC (China National Nuclear Corporation) = Chinese state-owned nuclear enterprise — enhanced-diligence flag for Western DFIs/ECAs", "state": "Sourced", "source": "Bannerman / Africa Outlook 2026" }, "screen": "ASX-listed sponsor BUT CNNC (Chinese state nuclear SOE) holds 45% of the JV — material enhanced-diligence / geopolitical flag", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "Chinese ownership / strategic-shareholder exposure" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "mahenge", "name": "Mahenge (graphite)", "country": "Tanzania", "operator": "Black Rock Mining 84% / GoT 16%", "sponsor": { "value": "Black Rock Mining Limited (ASX:BKT); project subsidiary Faru Graphite Corporation", "state": "Sourced", "source": "Faru Graphite / Stockhead" }, "ultimate_bo": { "value": "BKT 84% / Government of Tanzania 16% free-carry; POSCO International (Korea, listed) largest single shareholder (~19.9%)", "state": "Sourced", "source": "Stockhead / Mining Review" }, "sanctions_screen": { "value": null, "state": "Absent", "note": "No sanctions screen run." }, "pep_soe_exposure": { "value": "Government of Tanzania 16% free-carried (SOE interest); two Chinese offtake counterparties on Module 1", "state": "Sourced", "source": "Stockhead" }, "screen": "ASX-listed; POSCO (Korea) strategic; GoT 16% free-carry + some Chinese offtake counterparties — moderate, structural flags", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "songwe-hill", "name": "Songwe Hill (rare earths)", "country": "Malawi", "operator": "Mkango Resources (GoM 10%)", "sponsor": { "value": "Mkango Resources Ltd (AIM:MKA, TSX-V:MKA); subsidiary Lancaster Exploration; NASDAQ MKAR pending", "state": "Sourced", "source": "Mkango / mining-technology" }, "ultimate_bo": { "value": "Publicly listed (AIM/TSX-V); Govt of Malawi 10% free-carry; CoTec 20.6% of Maginito; NASDAQ SPAC (Crown PropTech) merger pending", "state": "Sourced", "source": "Mkango YE-2025" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Govt of Malawi 10% free-carried (state interest); U.S.-DFC-funded and EU-CRMA-strategic (US/allied-DFI-financed as named)", "state": "Sourced", "source": "Mkango" }, "screen": "Listed; US-DFC-funded + EU-CRMA-strategic (US/allied-DFI-financed as named); GoM 10% free-carry — clean, positively", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "tumas", "name": "Tumas (uranium)", "country": "Namibia", "operator": "Deep Yellow (Oponona 5% post-FID)", "sponsor": { "value": "Deep Yellow Limited (ASX:DYL)", "state": "Sourced", "source": "Deep Yellow" }, "ultimate_bo": { "value": "Publicly listed (ASX); Oponona Investments (local Namibian) right to 5% post-FID", "state": "Sourced", "source": "Deep Yellow" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Oponona local 5% (post-FID); uranium is a Namibian 'strategic' mineral with state-involvement requirements", "state": "Derived", "source": "Namibia uranium policy" }, "screen": "ASX-listed; local 5% partner; uranium strategic-mineral state-interest — clean structure", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kangankunde", "name": "Kangankunde (rare earths)", "country": "Malawi", "operator": "Lindian Resources (RVR 67%->100%)", "sponsor": { "value": "Lindian Resources Ltd (ASX:LIN)", "state": "Sourced", "source": "Lindian / mining-technology" }, "ultimate_bo": { "value": "Publicly listed (ASX); holds 67% of Rift Valley Resource Developments (RVR), moving to 100%; Iluka Resources (ASX) strategic partner", "state": "Sourced", "source": "Lindian" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Iluka Resources (Australian, listed) strategic partner; no state ownership identified", "state": "Sourced", "source": "mining-technology" }, "screen": "ASX-listed; Iluka (Australia) strategic partner; clean structure (listed; counterparties as named; no state-SOE control identified)", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "makuutu", "name": "Makuutu (heavy rare earths)", "country": "Uganda", "operator": "Ionic Rare Earths / RRM (~6% local)", "sponsor": { "value": "Ionic Rare Earths Ltd (ASX:IXR)", "state": "Sourced", "source": "Ionic" }, "ultimate_bo": { "value": "Publicly listed (ASX) via Rwenzori Rare Metals (RRM); IXR ~60% at DFS, reported ~94% by 2026; ~6% local partners", "state": "Sourced", "source": "rare-earth-mining.com / Ionic", "note": "Ownership % rose over time; reconcile exact current stake if used in a memo." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "~6% local partners; MSP-aligned (Western critical-minerals); no state SOE control", "state": "Derived" }, "screen": "ASX-listed; MSP-aligned (Western); ~6% local — clean; current IXR stake to reconcile", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kobada", "name": "Kobada (gold)", "country": "Mali", "operator": "Toubani Resources ~90% / Mali 10%", "sponsor": { "value": "Toubani Resources Ltd (ASX:TRE) (formerly African Gold Group)", "state": "Sourced", "source": "Toubani / mining.com.au" }, "ultimate_bo": { "value": "Publicly listed (ASX); Eagle Eye Asset Holdings (EEA) ~35% major shareholder; State of Mali 10% equity", "state": "Sourced", "source": "Mining Weekly" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "State of Mali 10% equity (SOE interest); EEA ~35% concentrated holding; Mali military-transition jurisdiction", "state": "Sourced", "source": "Mining Weekly / Toubani" }, "screen": "ASX-listed; State of Mali 10% + EEA ~35% concentration + Mali jurisdiction — structural enhanced-diligence flags", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Mali)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "banio", "name": "Banio (potash)", "country": "Gabon", "operator": "Millennial Potash (US DFC-backed)", "sponsor": { "value": "Millennial Potash Corp (TSXV:MLP, OTCQB:MLPNF)", "state": "Sourced", "source": "Millennial" }, "ultimate_bo": { "value": "Publicly listed (TSX-V / OTCQB); Canadian; U.S. DFC funding partner", "state": "Sourced", "source": "Millennial" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "U.S.-DFC-backed (US/allied-DFI-financed as named); no state SOE control identified", "state": "Derived" }, "screen": "TSX-V-listed; US-DFC-backed (US/allied-DFI-financed as named); clean structure", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "epanko", "name": "Epanko (graphite)", "country": "Tanzania", "operator": "EcoGraf / TanzGraphite", "sponsor": { "value": "EcoGraf Limited (ASX:EGR; FSE:FMK; OTCQX:ECGFF)", "state": "Sourced", "source": "EcoGraf / Proactive" }, "ultimate_bo": { "value": "Publicly listed (ASX); ThyssenKrupp (Germany) offtake partner; KfW IPEX-Bank / EIB lenders", "state": "Sourced", "source": "EcoGraf / Goldinvest" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Counterparties: ThyssenKrupp, KfW IPEX, EIB; no state SOE control identified", "state": "Derived" }, "screen": "ASX-listed; European DFI + ThyssenKrupp counterparties — clean structure", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "dugbe", "name": "Dugbe (gold)", "country": "Liberia", "operator": "Pasofino Gold / HRL (GoL 10% free-carry)", "sponsor": { "value": "Pasofino Gold Limited (TSXV:VEIN; OTCQB:EFRGF)", "state": "Sourced", "source": "Pasofino" }, "ultimate_bo": { "value": "Hummingbird Resources ~51% of Pasofino; Nioko Resources (owns Hummingbird) is acquiring Pasofino entirely (all-cash C$141.6m, Jan 2026, pending approvals) — OWNERSHIP IN FLUX; GoL 10% free-carry", "state": "Sourced", "source": "Ecofin Agency Jan 2026 / Streetwise", "note": "Pending Nioko takeover changes ultimate control; reconcile before any reliance." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Government of Liberia 10% free-carry (SOE interest); pending change of control (Nioko)", "state": "Sourced", "source": "Pasofino / Ecofin" }, "screen": "TSX-V-listed; ENHANCED DILIGENCE — pending Nioko change-of-control (ownership in flux) + GoL 10% carry + live MDA dispute", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "pending change-of-control (Nioko acquisition of Pasofino) + GoL 10% carry + live MDA dispute" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "sanankoro", "name": "Sanankoro (gold)", "country": "Mali", "operator": "Cora Gold (EEA 29.9%) / Mali 10%", "sponsor": { "value": "Cora Gold Limited (AIM:CORA)", "state": "Sourced", "source": "Cora Gold / Sharecast" }, "ultimate_bo": { "value": "Publicly listed (AIM); Eagle Eye Asset Holdings (EEA, Singapore-based) 29.9% largest shareholder and gold-stream counterparty; State of Mali 10% free-carry", "state": "Sourced", "source": "Sharecast / Mining-technology" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "State of Mali 10% (SOE interest); EEA ~29.9% concentrated holding; Mali military-transition jurisdiction. NOTE: EEA is also the stream counterparty at Kobada — a recurring funder of Mali gold juniors", "state": "Sourced", "source": "Sharecast / Mining Weekly", "note": "EEA appears across multiple Mali gold streams (Kobada, Sanankoro) — concentration worth tracking." }, "screen": "AIM-listed; State of Mali 10% + EEA ~29.9% (also Kobada's funder) + Mali jurisdiction — enhanced-diligence flags", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Mali)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "chilalo", "name": "Chilalo (graphite)", "country": "Tanzania", "operator": "Evolution Energy Minerals (ARCH cornerstone)", "sponsor": { "value": "Evolution Energy Minerals Limited (ASX:EV1; FSE:P77), subsidiary of Marvel Gold", "state": "Sourced", "source": "mining.com.au / EV1" }, "ultimate_bo": { "value": "Publicly listed (ASX); ARCH Sustainable Resources Fund cornerstone; YXGC (China) coarse-flake offtake partner", "state": "Sourced", "source": "theassay / EV1" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "GoT framework/shareholders agreement (state participation); ARCH fund cornerstone; Chinese offtake partner (YXGC) is a supply-chain, not an integrity, consideration", "state": "Derived" }, "screen": "ASX-listed; ARCH-cornerstoned; clean structure — Chinese coarse offtake is a supply-chain (ex-China) flag, not an integrity flag", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction", "note: Chinese offtake/EPC counterparty (commercial, not ownership)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "mingomba", "name": "Mingomba (copper)", "country": "Zambia", "operator": "KoBold Metals 80% / ZCCM-IH 20%", "sponsor": { "value": "KoBold Metals (US, California; Bezos/Gates/Andreessen-backed; AI exploration) — private", "state": "Sourced", "source": "mining.com / The Assay" }, "ultimate_bo": { "value": "KoBold Metals 80% (private, US) / ZCCM-IH 20% (Zambia state, LON:ZCC); superseded the EMR Capital JV", "state": "Sourced", "source": "Discovery Alert / mining.com" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "ZCCM-IH (Zambia state SOE) 20% minority; US private sponsor (unlisted) — US-critical-minerals-program-backed (US critical-minerals strategy)", "state": "Derived" }, "screen": "US sponsor (KoBold, private) + ZCCM-IH 20% state; sponsor is private/unlisted (less public disclosure)", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "phalaborwa", "name": "Phalaborwa (rare earths)", "country": "South Africa", "operator": "Rainbow Rare Earths (US-DFC/TechMet-backed)", "sponsor": { "value": "Rainbow Rare Earths Limited (LSE:RBW)", "state": "Sourced", "source": "Rainbow / Mining Weekly" }, "ultimate_bo": { "value": "Publicly listed (LSE); U.S. DFC (via TechMet) proposed investor; Ecora Royalties holds a GRR + equity stake", "state": "Sourced", "source": "Rainbow / Ecora" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "LSE-listed; US DFC/TechMet-backed; no state SOE control identified", "state": "Derived" }, "screen": "LSE-listed; US-DFC/TechMet-backed (US/allied-DFI-financed as named) — clean structure", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kola", "name": "Kola (potash)", "country": "Republic of Congo", "operator": "Kore Potash (97%)", "sponsor": { "value": "Kore Potash Plc (LON/ASX/JSE/A2X:KP2)", "state": "Sourced", "source": "Kore / Alliance News" }, "ultimate_bo": { "value": "Publicly listed (London/ASX/JSE); 97% of Kola; EPC contractor is PowerChina International (Chinese) — a contractor relationship, not ownership", "state": "Sourced", "source": "World Fertilizer / Kore", "note": "PowerChina is the EPC contractor (and a potential financing influence), not an equity owner." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed sponsor; RoC mining-convention counterpart; Chinese EPC contractor (PowerChina) — supply-chain/financing consideration, not an ownership flag", "state": "Derived" }, "screen": "Multi-listed (London/ASX/JSE) sponsor; clean ownership — Chinese EPC (PowerChina) is a contractor/financing consideration to watch", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction", "note: Chinese offtake/EPC counterparty (commercial, not ownership)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "waterberg", "name": "Waterberg (PGM)", "country": "South Africa", "operator": "Platinum Group Metals Ltd / Implats / HJ / Mnombo(BEE)", "sponsor": { "value": "Platinum Group Metals Ltd (TSX:PTM; NYSE American:PLG) — operator", "state": "Sourced", "source": "PTM" }, "ultimate_bo": { "value": "JV: Platinum Group 37.19% / Implats 14.86% / HJ Platinum 21.95% (JOGMEC [Japan state] + Hanwa) / Mnombo Wethu (BEE) 26%", "state": "Sourced", "source": "PTM Waterberg page" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "JOGMEC is a Japanese state agency (allied); BEE partner (Mnombo); all Western/Japan-aligned — no adverse SOE control", "state": "Derived" }, "screen": "TSX/NYSE-listed operator; Implats + JOGMEC (Japan) + BEE — clean, Western/Japan-aligned JV", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "longonjo", "name": "Longonjo (rare earths)", "country": "Angola", "operator": "Pensana Plc (FSDEA ~29%)", "sponsor": { "value": "Pensana Plc (LSE:PRE) — Nasdaq listing under consideration 2026", "state": "Sourced", "source": "Ecofin / Pensana" }, "ultimate_bo": { "value": "Publicly listed (LSE); FSDEA (Angola Sovereign Wealth Fund) ~29.2%; Cascade Natural Resources (US) US$165m strategic investor", "state": "Sourced", "source": "rare-earth-mining.com / Discovery Alert" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "FSDEA (Angola sovereign fund) ~29.2% is a supportive anchor (not adverse control); US/German/AFC counterparties — Western-allied", "state": "Derived" }, "screen": "LSE-listed; FSDEA sovereign anchor + US/German/AFC partners — Western-allied, clean", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "khill", "name": "K.Hill (battery manganese)", "country": "Botswana", "operator": "Giyani Metals (100%)", "sponsor": { "value": "Giyani Metals Corp (TSXV:EMM; OTC:CATPF)", "state": "Sourced", "source": "Giyani / INN" }, "ultimate_bo": { "value": "Publicly listed (TSXV); 100% of K.Hill; IDC of South Africa (DFI) holds a convertible loan and may nominate a director if it converts to >10%", "state": "Sourced", "source": "Botswana Gazette / Giyani", "note": "IDC is a development-finance institution (not adverse SOE control); director nomination is a standard DFI lender right." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; IDC (SA DFI) + ARCH (fund) backers; no adverse SOE control", "state": "Derived" }, "screen": "TSXV-listed; IDC (DFI) + ARCH backers — clean; IDC director-nomination right is standard DFI lender protection", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "minim-martap", "name": "Minim Martap (bauxite)", "country": "Cameroon", "operator": "Canyon Resources / Camalco (Camrail 26.9%)", "sponsor": { "value": "Canyon Resources (ASX:CAY); in-country subsidiary Camalco Cameroon S.A.", "state": "Sourced", "source": "Canyon / mining-technology" }, "ultimate_bo": { "value": "Publicly listed (ASX); major shareholder Eagle Eye Asset Holdings (EEA); Afriland First Bank group strategic investor; Camrail stake 26.9%", "state": "Sourced", "source": "Canyon / globenewswire" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "ASX-listed; EEA + Afriland (Cameroon bank) backers; locomotives procured from China (procurement, not ownership)", "state": "Derived" }, "screen": "ASX-listed; EEA + Afriland backers — clean ownership; China loco supply is procurement, not control", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "steelpoortdrift", "name": "Steelpoortdrift (vanadium)", "country": "South Africa", "operator": "Vanadium Resources (VR8) 86.49%", "sponsor": { "value": "Vanadium Resources Ltd (VR8) (ASX:VR8; DAX:TR3)", "state": "Sourced", "source": "VR8 / mining.com.au" }, "ultimate_bo": { "value": "Publicly listed (ASX/DAX); 86.49% of Steelpoortdrift; offtake counterparties include CPAL/CEIG (Chinese, DSO) and USV/TechMet (US, slag) — offtake relationships, not ownership", "state": "Sourced", "source": "mining.com.au / Discovery Alert", "note": "Chinese DSO offtakers are commercial counterparties, not equity owners." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; no adverse SOE control; Chinese offtake counterparties are a commercial-relationship consideration only", "state": "Derived" }, "screen": "ASX/DAX-listed; clean ownership; Chinese DSO offtake (CPAL/CEIG) is a counterparty consideration, not control", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction", "note: Chinese offtake/EPC counterparty (commercial, not ownership)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "dasa", "name": "Dasa (uranium)", "country": "Niger", "operator": "Global Atomic via SOMIDA (Niger govt 20%)", "sponsor": { "value": "Global Atomic Corp (TSX:GLO; OTCQX:GLATF)", "state": "Sourced", "source": "Global Atomic" }, "ultimate_bo": { "value": "Publicly listed (TSX); Dasa held via SOMIDA with the Republic of Niger government holding 20%", "state": "Sourced", "source": "Global Atomic / Discovery Alert", "note": "State 20% in a military-junta jurisdiction that has expropriated PEER uranium licences — enhanced-diligence context." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Niger state (20%, junta-led since the July-2023 coup) is a partner; junta has revoked peer licences (Orano, GoviEx) and nationalised Somair — material PEP/SOE + expropriation context", "state": "Sourced", "source": "mining.com / nucnet", "note": "Niger govt strongly supports Dasa to date, but the junta context warrants enhanced diligence." }, "screen": "TSX-listed sponsor; Niger state 20% partner in a junta jurisdiction with a peer-expropriation record — ENHANCED DILIGENCE warranted", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Niger)", "state-JV / state-participated control (beyond routine free-carry)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "baniaka", "name": "Baniaka (iron ore)", "country": "Gabon", "operator": "Genmin (100%)", "sponsor": { "value": "Genmin Limited (ASX:GEN)", "state": "Sourced", "source": "Genmin / MarketScreener" }, "ultimate_bo": { "value": "Publicly listed (ASX); 100% of Baniaka; financing/offtake/EPC interest heavily Chinese (SHICO, Sinohydro/PowerChina SOE, Chinese steelmakers) — counterparties, not equity owners", "state": "Sourced", "source": "Ecofin / nextinvestors", "note": "China-concentrated commercial structure (offtake + EPC + ~60% financing LOI); ownership remains 100% Genmin." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; no adverse equity SOE control; but a Chinese SOE (Sinohydro/PowerChina) is the prospective EPC + financier — concentration to monitor; a Gabonese-subsidiary labour-hire legal proceeding noted", "state": "Sourced", "source": "Ecofin / Sharecafe" }, "screen": "ASX-listed, 100%-owned; clean ownership but China-concentrated counterparties (offtake/EPC/~60% financing) + a minor subsidiary legal proceeding", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "Chinese ownership / strategic-shareholder exposure" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kanyika", "name": "Kanyika (niobium)", "country": "Malawi", "operator": "Globe Metals & Mining (100%)", "sponsor": { "value": "Globe Metals & Mining Ltd (ASX:GBE)", "state": "Sourced", "source": "Globe / mining.com.au" }, "ultimate_bo": { "value": "Publicly listed (ASX); 100% (retains full ownership + offtake control); Sinomine (Chinese) is the early-works contractor (cost-reimbursable), not an owner", "state": "Sourced", "source": "mining-technology / mining.com.au", "note": "Sinomine is a commercial early-works contractor; Globe explicitly retains ownership/offtake control." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; 100%-owned; Chinese early-works contractor (Sinomine) is a commercial-relationship consideration, not control", "state": "Derived" }, "screen": "ASX-listed, 100%-owned with retained offtake control; Chinese early-works contractor (Sinomine) is a counterparty consideration, not control", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction", "note: Chinese offtake/EPC counterparty (commercial, not ownership)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "toliara", "name": "Vara Mada / Toliara (mineral sands + REE)", "country": "Madagascar", "operator": "Energy Fuels (100%)", "sponsor": { "value": "Energy Fuels Inc (NYSE:UUUU; TSX:EFR)", "state": "Sourced", "source": "Energy Fuels / mining.com" }, "ultimate_bo": { "value": "Publicly listed (NYSE/TSX); 100% via Base Toliara SARL; leading US critical-minerals producer (White Mesa Mill, Utah)", "state": "Sourced", "source": "Energy Fuels FS / mining.com" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "US-listed, US-government-aligned (DoD supply chain); no adverse SOE control; Madagascar state interest is fiscal (royalty), not equity control", "state": "Derived" }, "screen": "NYSE/TSX-listed, US critical-minerals leader — clean, US-aligned ownership; political risk sits in the jurisdiction, not the structure", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Madagascar)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "farim", "name": "Farim (phosphate)", "country": "Guinea-Bissau", "operator": "Itafos (100%)", "sponsor": { "value": "Itafos Inc (TSX-V:IFOS; OTCQX:ITFS)", "state": "Sourced", "source": "Itafos" }, "ultimate_bo": { "value": "Publicly listed (TSX-V); 100% via Itafos Farim SARL / GB Minerals AG (Swiss/Cayman holding chain); principal shareholder CL Fertilizers (Castlelake LP, PE)", "state": "Sourced", "source": "Itafos FS / globenewswire", "note": "Multi-jurisdiction holding chain (Swiss/Cayman) is conventional; PE-controlled." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed, PE-controlled (Castlelake); Guinea-Bissau govt 10% free-carry; no adverse SOE control", "state": "Derived" }, "screen": "TSX-V-listed, Castlelake-PE-backed — clean ownership (conventional Swiss/Cayman holding chain); govt 10% free-carry", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Guinea-Bissau)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "boumadine", "name": "Boumadine (polymetallic Au-Ag-Zn-Pb)", "country": "Morocco", "operator": "Aya Gold & Silver (operates Zgounder)", "sponsor": { "value": "Aya Gold & Silver Inc (TSX:AYA; OTCQX:AYASF)", "state": "Sourced", "source": "Aya / globenewswire" }, "ultimate_bo": { "value": "Publicly listed (TSX); operates the producing Zgounder silver mine in Morocco; clean ownership", "state": "Sourced", "source": "Aya" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed producer; no adverse SOE control", "state": "Derived" }, "screen": "TSX-listed cash-flowing producer — clean ownership structure (listed; no state-SOE control identified)", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "lofdal", "name": "Lofdal (heavy rare earths)", "country": "Namibia", "operator": "Namibia Critical Metals 95% (JOGMEC JV)", "sponsor": { "value": "Namibia Critical Metals Inc (TSXV:NMI; OTCQX:NMREF)", "state": "Sourced", "source": "NCMI" }, "ultimate_bo": { "value": "Publicly listed (TSXV); 95% NCMI (5% Historically Disadvantaged Namibians); JOGMEC (Japanese govt agency) earning 40-50%; Toyota Tsusho partner", "state": "Sourced", "source": "NCMI / INN", "note": "JOGMEC is an allied sovereign agency (supportive), not an adverse SOE." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; JOGMEC (Japan sovereign agency) + Toyota Tsusho are allied partners — no adverse SOE control", "state": "Derived" }, "screen": "TSXV-listed; JOGMEC (Japan sovereign) + Toyota Tsusho — clean, allied ownership", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "haib", "name": "Haib (copper-moly-gold porphyry)", "country": "Namibia", "operator": "Koryx Copper (100%)", "sponsor": { "value": "Koryx Copper Inc / S.A. (TSX-V:KRY; NSX:KYX; OTCQB:KRYXF)", "state": "Sourced", "source": "Koryx / globenewswire" }, "ultimate_bo": { "value": "Publicly listed (TSX-V/NSX); 100% Koryx; continued to a Luxembourg domicile Mar 2026 (conventional corporate continuation); formerly Deep-South Resources", "state": "Sourced", "source": "Koryx", "note": "Domicile change Canada->Luxembourg is conventional; clean ownership." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed junior; no adverse SOE control", "state": "Derived" }, "screen": "TSX-V/NSX-listed; clean ownership (Luxembourg continuation is conventional)", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "orom-cross", "name": "Orom-Cross (graphite)", "country": "Uganda", "operator": "Blencowe Resources (100%)", "sponsor": { "value": "Blencowe Resources Plc (LSE:BRES)", "state": "Sourced", "source": "Blencowe" }, "ultimate_bo": { "value": "Publicly listed (LSE); 100% via Ugandan subsidiary; US DFC (US govt) + AFC (multilateral) engaged on financing", "state": "Sourced", "source": "Blencowe / Project Funding", "note": "DFC/AFC engagement adds sovereign/multilateral oversight." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "LSE-listed; DFC (US govt) + AFC (multilateral) are supportive institutions — no adverse SOE control", "state": "Derived" }, "screen": "LSE-listed; DFC + AFC engaged — clean, Western/multilateral-anchored ownership", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "bankan", "name": "Bankan (gold)", "country": "Guinea", "operator": "Predictive Discovery (100%)", "sponsor": { "value": "Predictive Discovery Ltd (ASX:PDI)", "state": "Sourced", "source": "Predictive Discovery" }, "ultimate_bo": { "value": "Publicly listed (ASX); 100% Bankan; post-Apr-2026 Robex merger a producer+developer (Kiniero/Nampala); clean ownership", "state": "Sourced", "source": "kalkine / Predictive Discovery" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; no adverse SOE control; Guinea state interest is fiscal (mining code)", "state": "Derived" }, "screen": "ASX-listed producer+developer — clean ownership; jurisdiction (junta) is the risk, not the structure", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Guinea)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "zanaga", "name": "Zanaga (iron ore)", "country": "Republic of Congo", "operator": "Zanaga Iron Ore Co (100%)", "sponsor": { "value": "Zanaga Iron Ore Company (LON:ZIOC)", "state": "Sourced", "source": "ZIOC" }, "ultimate_bo": { "value": "LSE-listed; 100% via Jumelles (BVI/Mauritius) -> MPD Congo; Glencore FULLY EXITED (Mar 2025); PENDING sale of up to 87.5% to Red Arc Minerals (RAM) — RAM/Heeney Capital is related to ZIOC (Heeney is an indirect ZIOC shareholder and RAM co-founder)", "state": "Sourced", "source": "Ecofin / ZIOC", "note": "Related-party majority sale + BVI/Mauritius holding chain -> enhanced diligence; ownership in transition." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "LSE-listed; no SOE control; the diligence item is the related-party Red Arc/Heeney majority transaction, not a state party", "state": "Derived" }, "screen": "LSE-listed, Glencore cleanly exited — but a PENDING RELATED-PARTY majority-sale (Red Arc/Heeney) + BVI/Mauritius chain warrant enhanced diligence", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "pending related-party majority sale (Red Arc/Heeney) through a BVI/Mauritius chain" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "muntanga", "name": "Muntanga (uranium)", "country": "Zambia", "operator": "Atomic Eagle (100%; ex-GoviEx)", "sponsor": { "value": "Atomic Eagle Limited (ASX:AEU; OTCQX:AEUXF) — 100% (FS authored by predecessor GoviEx Uranium, TSXV:GXU)", "state": "Sourced", "source": "Crux Investor / GoviEx", "note": "Ownership transition GoviEx -> Atomic Eagle; clean Western-listed acquirer." }, "ultimate_bo": { "value": "Publicly listed (ASX); 100% Muntanga; recent transition from GoviEx (also Western-listed); no adverse control", "state": "Sourced", "source": "Crux Investor / discoveryalert" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed junior; no adverse SOE control; Zambia state interest is fiscal (royalty)", "state": "Derived" }, "screen": "ASX-listed (ex-GoviEx) — clean ownership; the only integrity note is the recent, conventional change of control", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "bilboes", "name": "Bilboes (gold)", "country": "Zimbabwe", "operator": "Caledonia Mining (100%)", "sponsor": { "value": "Caledonia Mining Corporation Plc (NYSE American/AIM/VFEX:CMCL)", "state": "Sourced", "source": "Caledonia" }, "ultimate_bo": { "value": "Publicly listed (NYSE American/AIM/VFEX); 100% Caledonia; established Zimbabwe operator (Blanket Mine); acquired Bilboes Gold Jan 2023", "state": "Sourced", "source": "Caledonia / mining-technology" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed established producer; no adverse SOE control", "state": "Derived" }, "screen": "NYSE/AIM/VFEX-listed established producer — clean ownership; jurisdiction is the risk, not the structure", "screening_priority": { "state": "Derived", "value": "HIGH", "drivers": [ "targeted-sanctions jurisdiction (Zimbabwe — OFAC Global Magnitsky designations incl. head of state; ZIDERA limits IMF/World Bank access; country program ended Mar 2024)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "douta", "name": "Douta (gold)", "country": "Senegal", "operator": "Thor Explorations (100%)", "sponsor": { "value": "Thor Explorations Ltd (AIM:THX; TSXV:THX)", "state": "Sourced", "source": "Thor / African Mining Market" }, "ultimate_bo": { "value": "Publicly listed (AIM/TSXV); 100% Douta (acquired remaining 30% from IMC, Sep 2025); operates Segilola (Nigeria); clean ownership", "state": "Sourced", "source": "mining-technology" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed producer; no adverse SOE control; potential Senegal state participation via the Mining Convention is conventional", "state": "Derived" }, "screen": "AIM/TSXV-listed producer+developer — clean ownership", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "bekisopa", "name": "Bekisopa (iron ore)", "country": "Madagascar", "operator": "AKORA Resources (100%)", "sponsor": { "value": "AKORA Resources Ltd (ASX:AKO)", "state": "Sourced", "source": "Akora" }, "ultimate_bo": { "value": "Publicly listed (ASX); 100% Bekisopa; small-cap junior; clean ownership", "state": "Sourced", "source": "Akora / smallcaps" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed junior; no adverse SOE control", "state": "Derived" }, "screen": "ASX-listed junior — clean ownership; small-cap scale is the funding constraint, not integrity", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Madagascar)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "enchi", "name": "Enchi (gold)", "country": "Ghana", "operator": "Newcore Gold (100%)", "sponsor": { "value": "Newcore Gold Ltd (TSX-V:NCAU; OTCQX:NCAUF)", "state": "Sourced", "source": "Newcore" }, "ultimate_bo": { "value": "Publicly listed (TSX-V); 100% Enchi; management 13% equity; clean ownership", "state": "Sourced", "source": "Newcore / miningstockeducation" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed junior; no adverse SOE control; Ghana state interest is fiscal/standard free-carry", "state": "Derived" }, "screen": "TSX-V-listed, management-aligned junior — clean ownership", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "boundiali", "name": "Boundiali (gold)", "country": "Cote d'Ivoire", "operator": "Aurum Resources (operator/owner)", "sponsor": { "value": "Aurum Resources Ltd (ASX:AUN) — operator/owner; NOT Turaco Gold (Turaco's CIV asset is the separate Afema project)", "state": "Sourced", "source": "Aurum / mining-technology", "note": "Operator verified as Aurum; common mis-attribution to Turaco corrected." }, "ultimate_bo": { "value": "Publicly listed (ASX); strategic shareholders the Lundin Family, Montage Gold and Zhaojin Gold (~8.5%, non-controlling)", "state": "Sourced", "source": "SCP / Aurum", "note": "Zhaojin (Chinese) ~8.5% is a minor non-controlling stake." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; no adverse SOE control; the only note is a minor (~8.5%) Zhaojin (Chinese) shareholding", "state": "Derived" }, "screen": "ASX-listed, well-backed (Lundin/Montage) — clean ownership; minor (~8.5%) Zhaojin holding is a non-controlling note", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "afema", "name": "Afema (gold)", "country": "Cote d'Ivoire", "operator": "Turaco Gold (80%; Sodim 20%)", "sponsor": { "value": "Turaco Gold Ltd (ASX:TCG); MD Justin Tremain", "state": "Sourced", "source": "Turaco / SCP" }, "ultimate_bo": { "value": "Publicly listed (ASX); 80% Turaco / 20% Sodim (local JV, may convert to 1.5% NSR); clean ownership", "state": "Sourced", "source": "SCP / Turaco" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; Sodim 20% local JV is conventional; CIV state free-carry (~15%) is standard", "state": "Derived" }, "screen": "ASX-listed, proven-MD junior — clean ownership; Sodim 20% JV + CIV state carry are conventional", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "tgme", "name": "TGME (gold)", "country": "South Africa", "operator": "Theta Gold Mines (74%; 26% BEE)", "sponsor": { "value": "Theta Gold Mines Ltd (ASX:TGM) — operator/owner; NOT Pan African Resources (a separate SA producer)", "state": "Sourced", "source": "Wikipedia / miningdataonline", "note": "Operator verified as Theta Gold Mines; common confusion with Pan African corrected." }, "ultimate_bo": { "value": "Publicly listed (ASX); Theta Gold SA holds 74% of TGME; 26% held by BEE entities (Landowners' + Employee Trusts); clean ownership", "state": "Sourced", "source": "miningdataonline / exportfocusafrica" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed; BEE 26% is SA-standard broad-based ownership; IDC (SA DFI) is a lender, not a controlling owner", "state": "Derived" }, "screen": "ASX-listed; 26% BEE ownership is SA-standard; IDC is a DFI lender — clean ownership", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "diamba-sud", "name": "Diamba Sud (gold)", "country": "Senegal", "operator": "Fortuna Mining (100% via Boya SA)", "sponsor": { "value": "Fortuna Mining Corp (TSX:FVI; NYSE:FSM)", "state": "Sourced", "source": "Fortuna / mining.com" }, "ultimate_bo": { "value": "Publicly listed (TSX/NYSE) producer; 100% via Boya SA (Senegal state 10% free-carry on permit grant); clean ownership", "state": "Sourced", "source": "Fortuna" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed producer; Senegal state free-carry is conventional", "state": "Derived" }, "screen": "NYSE/TSX-listed producer — clean ownership; Senegal state free-carry conventional", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "bunyu", "name": "Bunyu (graphite)", "country": "Tanzania", "operator": "Volt Resources (100%; UOF 62% pending)", "sponsor": { "value": "Volt Resources Ltd (ASX:VRC); pending JV partner Unbounded Opportunities Fund SPC (UOF), Cayman Islands", "state": "Sourced", "source": "miningweekly / smallcaps" }, "ultimate_bo": { "value": "Volt is ASX-listed, but the binding term sheet would give UOF (a Cayman SPC) ~62% control of the project SPV; UOF's beneficial ownership is not publicly transparent", "state": "Sourced", "source": "miningweekly / smallcaps", "note": "Offshore-fund majority control pending -> enhanced diligence on UOF beneficial ownership." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Volt is Western-listed; the diligence item is the incoming Cayman fund (UOF) taking majority control", "state": "Derived" }, "screen": "ENHANCED DILIGENCE — a Cayman offshore fund (UOF) would take ~62% control; beneficial ownership not transparent", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "offshore fund (Cayman SPC, UOF) taking ~62% control with non-transparent beneficial ownership (pending — confirm completion)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "ancuabe", "name": "Ancuabe (graphite)", "country": "Mozambique", "operator": "Triton Minerals (80%; Moz govt 10%)", "sponsor": { "value": "Triton Minerals Ltd (ASX:TON)", "state": "Sourced", "source": "mining.com.au" }, "ultimate_bo": { "state": "Sourced", "value": "ASX-listed Triton (TON); original structure 80% Triton via Grafex Limitada (Moz govt 10%). Triton is selling 70% of the Mozambique graphite assets (incl. Ancuabe) to Shandong Yulong's subsidiary NQM under a 2025 SSAP that NQM breached on payment, then settled conditionally (Sep 2025, ~half paid, held-for-sale). Yulong is also Triton's ~36% largest shareholder. UBO in transition toward Chinese control — confirm completion.", "basis": "Triton Minerals (ASX:TON) filings + ASX announcements 2024-25; reconciled with financeability china_exposure v2.136.30." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "ASX-listed operator; the integrity notes are the Chinese cornerstone (Yulong) + 2018 Chinese offtakers; Moz govt 10% is conventional", "state": "Derived" }, "screen": "ASX-listed; clean operator ownership; Chinese cornerstone backer (Yulong) + Chinese offtakers are the notes", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "Chinese ownership / strategic-shareholder exposure", "ownership in transition (confirm completion)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "zandkopsdrift", "name": "Zandkopsdrift (REE + Mn)", "country": "South Africa", "operator": "Frontier Rare Earths (IDC/Carester/Komir partners)", "sponsor": { "value": "Frontier Rare Earths Ltd (Luxembourg-registered)", "state": "Sourced", "source": "prnewswire / fsxbusiness" }, "ultimate_bo": { "value": "Frontier (Luxembourg) with allied strategic partners: IDC (SA DFI), Carester (France), Komir (South Korea, govt-linked); transparent allied structure", "state": "Sourced", "source": "prnewswire / discoveryalert", "note": "Listing status of Frontier not confirmed this cycle (treated as unlisted)." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Allied partners (SA DFI, French, South Korean govt-linked); no adverse SOE control", "state": "Derived" }, "screen": "Allied partner structure (SA DFI + France + South Korea) — clean; Frontier listing status not confirmed", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "kandiole", "name": "Kandiole (gold)", "country": "Mali", "operator": "Roscan Gold (100%)", "sponsor": { "value": "Roscan Gold Corp (TSX-V:ROS; FSE:2OJ; OTCQB:RCGCF)", "state": "Sourced", "source": "Roscan" }, "ultimate_bo": { "value": "Publicly listed (TSX-V); 100% Kandiole; clean ownership; adjacent to (not owned by) B2Gold's Fekola", "state": "Sourced", "source": "Roscan / marketscreener" }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "Western-listed junior; Mali 2023-code state participation is conventional (if large)", "state": "Derived" }, "screen": "TSX-V-listed junior — clean ownership; Mali state participation conventional", "screening_priority": { "state": "Derived", "value": "ELEVATED", "drivers": [ "transitional/junta jurisdiction (Mali)" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } }, { "id": "steenkampskraal", "name": "Steenkampskraal (REE + thorium)", "country": "South Africa", "operator": "SMM (Holdings + Bora; IDC-funded)", "sponsor": { "value": "Steenkampskraal Monazite Mine (SMM) — Steenkampskraal Holdings + Bora Mining Investments (Dr Enock Mathebula)", "state": "Sourced", "source": "steenkampskraal / rareearthexchanges" }, "ultimate_bo": { "value": "Private SA entity (not listed); Holdings + Bora + broad-based Worker's Trust; IDC (SA DFI) funder; Mintek/Necsa (SA state research) partners", "state": "Sourced", "source": "rareearthexchanges / esi-africa", "note": "Private; listing status n/a (not counted listed_public)." }, "sanctions_screen": { "value": null, "state": "Absent" }, "pep_soe_exposure": { "value": "SA private + SA DFI (IDC) + SA state research (Mintek/Necsa); transparent domestic structure", "state": "Derived" }, "screen": "Private SA structure + IDC + Mintek/Necsa — transparent; not listed", "screening_priority": { "state": "Derived", "value": "STANDARD", "drivers": [ "listed-public sponsor, dispersed ownership, routine state free-carry, lower-risk jurisdiction" ], "basis": "Derived screening-PRIORITY roll-up, a SUPERSET of the integrity gate’s enhanced-diligence flag (any gate-flagged asset is at least ELEVATED). HIGH is reserved for a sanctions-exposed jurisdiction or a closed/opaque ownership chain; ELEVATED covers junta jurisdictions, state-JV/participated control (routine ~10% free-carry is baseline, not a flag), Chinese OWNERSHIP/strategic-shareholder exposure, and undisclosed-UBO / offshore-control / pending-change-of-control / related-party-majority signals. A Chinese offtake or EPC counterparty is noted but does not elevate (commercial, not ownership). A diligence-PRIORITY signal — NOT a sanctions determination, eligibility ruling, or clearance; no list (OFAC/EU/UN/UK-OFSI/MDB-debarment) run by Afrimintel." } } ] }