By: African mining market

Ariana Resources PLC has signed a funding term sheet with Chinese mining group Hongkong Xinhai Mining Services, securing an A$8 million investment for its Dokwe gold project in Zimbabwe. The deal includes an immediate A$500,000 signing fee, with the remaining funds to be invested through the purchase of Ariana’s Australian-listed depositary interests.

In addition to the capital injection, Xinhai will conduct a A$1 million metallurgical testing program and fund a definitive feasibility study valued at up to A$2 million, both payable in shares. Xinhai will also receive up to 18.3 million options to acquire additional shares at A$0.50 each through 2027. Definitive agreements are expected to be finalized by January 31, 2026, after which Xinhai may appoint a board member.

Ariana’s Managing Director, Kerim Sener, described the partnership as a pivotal step toward accelerating the Dokwe project’s feasibility study and eventual production. Xinhai Chairman Yunlong Zhang emphasized the strategic importance of the investment in expanding the company’s presence in emerging resource regions like Zimbabwe.v