South Africa’s African Rainbow Minerals (ARM) is evaluating a substantial copper project in Papua New Guinea in partnership with US mining giant Newmont Corporation, ARM chairperson Patrice Motsepe announced on Tuesday.
Motsepe made the announcement during the Bloomberg Africa Business Summit held in Johannesburg, South Africa.
The venture is seen as part of ARM’s strategy to expand its footprint beyond Southern Africa and tap into the rising global demand for copper, driven by the energy transition, electric vehicles, and renewable power infrastructure. Copper prices have surged in recent years as governments and industries worldwide accelerate the shift toward low-carbon technologies, making new supply increasingly strategic.
Motsepe highlighted that the proposed project could be transformative for ARM, providing exposure to one of the world’s most copper-rich regions and enabling the company to strengthen its position in the global metals market. Details regarding the scale of the project, investment size, and expected timelines have not yet been disclosed, with ARM and Newmont still in the evaluation phase.
The partnership aligns with broader trends in African mining companies seeking international collaborations to mitigate risk, gain technical expertise, and secure access to high-potential deposits abroad. Analysts say such moves also offer diversification away from domestic energy-intensive operations, which have faced challenges in South Africa due to high electricity costs and regulatory constraints.
The project marks ARM’s most ambitious overseas copper initiative to date, signaling its intent to compete on the global stage while leveraging Newmont’s experience in large-scale mining operations. Both companies have stressed that the evaluation is ongoing and that no final investment decision has been made.
