Ex-Gold Fields CEO targets $1B Africa critical minerals fund
Chris Griffith joins mining and finance veterans seeking capital to invest across Africa’s critical minerals sector.
Former Gold Fields CEO Chris Griffith has teamed up with a private equity firm aiming to raise $1 billion for investments in African critical minerals. This development follows Griffith's departure from Gold Fields in December 2022, after the unsuccessful $6.7-billion bid to acquire rival company Yamana Gold.
Griffith revealed that he was approached by a private equity team with plans to tap into the growing interest in Africa's critical minerals sector. He is now part of the newly formed team, along with former Goldman Sachs banker Colin Coleman and former Ashanti Goldfields chair Sam Jonah. The group is currently working on setting up a private equity business to pursue the $1 billion investment goal. The fundraising efforts are still at an early stage.
Griffith's decision to return to private equity comes after his tenure as CEO of Gold Fields, during which the company completed two major acquisitions. In 2024, Gold Fields acquired Osisko Mining for $1.6 billion, gaining control of the Windfall gold project in Quebec. The following year, the company acquired Gold Road Resources for approximately $2.4 billion, securing full ownership of the Gruyere gold mine in Western Australia.
Griffith's return to private equity also marks a shift from his previous role as the head of Vedanta's base metals division, which he held for two years.
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