African Pioneer PLC has started a drilling program at its Ongombo and Ongeama copper projects in Namibia, causing its shares to rise 8%. The program involves drilling 119 holes totaling about 7,000 meters to extend mineral resources and gather data for mine design. African Pioneer aims to combine both deposits into a single resource to support a new mining operation with Hong Kong Xinhai Mining Services. The project could enable three to four years of open-pit mining and further underground development options.
African Pioneer shares rose 8% following the start of drilling at its Namibian copper projects. For readers following the Basic Materials sector, here is Pluang's market snapshot as of Oct 16, 2026 16:11 WIB: out of 83 priced US stocks, 56 advanced and 23 declined. Notable movers include Gold Fields Limited (GFI) at USD 37.63 with a 1.46% gain and a typical hold time of 50 days, Standard Lithium Ltd (SLI) at USD 1.41 up 1.44%, and FMC Corp (FMC) at USD 5.70 rising 1.42%, with Pluang order activity favoring buys between 64% and 92%.
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