Mwana Africa plc was formed in October 2005 through a reverse takeover of African Gold plc, the AIM-listed African gold explorer and miner, by a privately held mining company, Mwana Africa Holdings (Proprietary) Ltd, with producing assets in Zimbabwe and exploration and development assets in the Democratic Republic of Congo (DRC).
African Gold was incorporated in 1987 and began focusing on the development of gold resources in Zimbabwe. By the late 1990s, the company had opened three small mines in Zimbabwe. By the end of 2002, business activity in Zimbabwe had ceased and the company began searching for opportunities elsewhere in Africa. In 2003-04, the company had raised funds and attracted investors including John Anderson, Oliver Baring, who was subsequently appointed as co-chairman, Richard Hambro and Hank Slack. At the same time the company secured the rights over four new gold properties in Ghana.
Mwana Africa Holdings (Proprietary) Limited is a private South African company established in 2003 by Kalaa Mpinga, after he left the Anglo American group. Mwana Africa completed three major mining acquisitions, including the Bindura nickel mine in 2003, the Anmercosa base metal and gold prospects in the Katanga copper belt in 2004, and the Freda Rebecca gold mine in 2005. The shareholder group which funded these acquisitions included Kalaa Mpinga, David Fish and Tim Wadeson from South Africa and several prominent members of the business communities in Angola, Zimbabwe, Kenya and Zambia.
As a result of the reverse takeover in October 2005, Mwana Africa plc has operating assets in Zimbabwe and development prospects and exploration licences in Ghana, Zimbabwe and the DRC. Mwana's operations include the Bindura Nickel Corporation, the Freda Rebecca gold mine, the Société Minière de Bakwanga (MIBA), in which it has a 20% stake, and Inez mine; and its exploration projects include Anmercosa, Konongo, Banka, Ahanta, Akrokeri , the Kilo Moto JV as well as a joint venture with Energy Equity Resources Ltd. The Group intends to pursue further on development and exploration opportunities across Africa.
The formation of the Group brought together a senior management team, highly experienced in the natural resource industry in Africa, many of whom had previously held senior positions within Anglo American plc.
Mwana's strategy is to develop into a major resource group on the African continent, exploiting opportunities across different countries and commodities, and focusing on being one of the most efficient and low-cost producers in Africa, while partnering with industry majors on new projects and being the preferred vehicle for African investors and entrepreneurs.
Legends abound in Africa about the continent’s largest animal, the elephant, whose very size makes it unassailable in nature. In these fables the elephant is always the chief who settles disputes with wisdom and impartiality. The elephant represents endurance and a character that is strong and steadfast. It is a symbol of great power and stature, sagacity, courage and dignity. Statues of elephants are often viewed as a source of good fortune especially those depicting the animal with its trunk raised.
We at Mwana are proud to be associated with the African elephant in our logo and are delighted to share with our shareholders both the images of this giant beast and the interpretation of it in various forms — wood, clay, beads and the like — in indigenous art.