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MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.

  1. 9 hrs ago

    Industry leaders, researchers, govt partners, innovators gather to modernise mining

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The future of modernisation in South African mining will not be forged by individual companies or institutions working in isolation but collectively by industry leaders, researchers, government partners, and innovators from across South Africa's mining community, who gathered on Thursday, July 23, for this shared purpose. "The modernisation of our mining industry is not a task any single organisation can undertake alone," Minerals Council South Africa CEO Mzila Mthenjane emphasised at the council's upbeat Modernisation Showcase event undertaken in partnership with the Research Institute for Innovation and Sustainability (RIIS), the Centre for Science, Technology and Innovation Indicators' research unit within South Africa's Human Sciences Research (HSRC-CeSTII) Council, PwC's Smart Mining, the Department of Science, Technology and Innovation, and the National Advisory Council on Innovation. (Also watch attached Creamer Media video.) "Periodically, an industry must pause and answer two questions honestly: where are we and where are we headed? Not where we believe we are or where our communications suggest we are. But rather, where the evidence, tested against international practice, indicates we are and stand. That is the purpose of today." Over recent months, three independent but complementary pieces of research have been completed, each examining modernisation in South African mining from a different perspective. The group has defined modernisation as the people-centred adoption of new technologies, mining methods, skills and systems to enable mining that is safer, healthier, more productive, more competitive and more sustainable. The research pieces are: The Global Benchmarking Report, prepared by RIIS and the Minerals Council South Africa, which situates South African mining against its international peers.The RDI Survey Report, prepared jointly by HSRC-CeSTII and RIIS, which establishes the extent of research, development and innovation activity in this sector, and where it is concentrated.The 10 Insights into 4IR Report, prepared by PwC, which examines where AI and Fourth Industrial Revolution technologies have moved into genuine operational use, and where they have not. "Each of these reports carries value independently. Together, they constitute something more substantial: a comprehensive view of modernisation in the country's mining industry – the investment we are making, our standing relative to the rest of the world, and the practical extent to which advanced technology is being deployed on our mines," Mthenjane pointed out at the event covered by Mining Weekly. "This matters, because mining matters. South African mining remains a principal engine of this economy. Our members account for a large portion of the country's mineral production – more than 90% based on annual minerals sales by value – and sustains close to half a million jobs directly, with more than three-million dependent on the sector indirectly. "The challenges before us are well understood: ageing infrastructure, deepening and increasingly complex orebodies, constraints in energy and logistics, and a global investment community with no shortage of competing jurisdictions for its capital. "Opportunities are also abundant, including a domestic and global minerals demand for infrastructure and basic services development, driving the energy and technology transition and elevating significant social prosperity. "In this context, modernisation is not a discretionary pursuit. It is what will keep this industry safe, healthy, competitive, and viable for future generations," Mthenjane explained. This showcase, accordingly, is intended to: create genuine space for evidence-informed dialogue among industry stakeholders – dialo...

  2. 13 hrs ago

    Teck boasts 314% attributable profit growth in Q2

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Canadian miner Teck Resources managed to deliver another quarter of strong operational and financial performance in the three months ended June 30, generating significant earnings and robust cash flow on the back of strong copper sales volumes, a favourable commodity price environment and disciplined execution across its operations. Teck president and CEO Jonathan Price says the company achieved a third consecutive quarter of stable operating performance at the QB mine, which demonstrates the progress made to strengthen reliability and consistency at one of the world's most important new copper operations. "These results reinforce the strength of our business and position us well to advance the planned merger with Anglo American to create a global critical minerals champion with the financial strength, operational capability and portfolio quality to deliver significant value for shareholders," Price adds. Teck's adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) totalled $2.2-billion in the second quarter, which marked a 204% increase on the second quarter of last year. Ebitda in the prior corresponding quarter amounted to $722-million. The group's adjusted profit attributable to shareholders increased from $187-million, or $0.38 apiece, in the second quarter last year to $948-million, or $1.93 apiece, in the reporting quarter. The profit attributable to shareholders was $854-million, or $1.74 apiece, compared to attributable profit of $206-million in the same quarter last year - marking a 314% increase. Cash flow from operations of $1.7-billion increased Teck's net cash position by $756-million during the second quarter this year, with its liquidity standing at $10.3-billion at the end of June - including $6.1-billion of cash. Notably, the company's copper segment generated gross profit before depreciation and amortisation of $1.8-billion in the second quarter, compared with $673-million in the same quarter last year. This was driven by higher production and record copper prices, which averaged $6.05/lb in the quarter under review. Teck produced 135 900 t in the quarter, which marked a 25% year-on-year increase, with production increases having been recorded across all of its copper operations. The zinc segment generated gross profit before depreciation and amortisation of $353-million in the reporting quarter, compared to $159-million in the same quarter last year. This segment also benefited from higher commodity prices and continued focus on cashflow generation through Teck's optimised feed strategy at the Trail Operations. Teck remains on track to produce between 455 000 t and 530 000 t of copper in the full year, and between 410 000 t and 460 000 t of zinc, which would deliver between 190 000 t and 230 000 t of refined zinc.

  3. 1 day ago

    AI's efficiencies keeping even lower quality operations going longer, energy event hears

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The increased efficiencies achieved by AI are ensuring that even lower quality operations are kept going for longer which benefits all stakeholders, Thungela Resources CEO Moses Madondo made clear to Coal & Energy Transition Day attendees on Wednesday, July 22. Madondo did so in response to mining luminary and event chairperson Bernard Swanepoel drawing attention to the propensity of CEOs announcing the number of people that they were laying off because of the benefits of AI and asking about the prospect of AI reducing coal mining workforces. "It's always been a confused conversation. I think we like to pronounce on things because it's a nice sound bite. It scares everyone that AI is going to replace people's jobs. You can go back to the conversations last ten years. "People are revisiting those conversations because with all technology development, that story always arises. But all technology development grows economies and industries and creates more jobs, and that's the nature of the beast. "Even for us, where we're using AI, we're getting more efficiencies, ensures we keep even our lower quality operations going longer. So, all of us take advantage of the opportunities that technology provides, and that's how we should think about it," Madondo emphasised at the event covered by Mining Weekly. (Also watch attached Creamer Media video.) In response to Swanepoel's earlier question on the extent of employee and community "ownership" and say in Thungela, Madondo explained that all stakeholders affected by the business "own" the business because of their say in it. "We obviously want them to benefit, so all of us, and more importantly, our employees, who are the core of the business and really make the business work, of course, have a stake in it." Regarding the world moving towards lower coal use for electricity generation, and even South Africa planning to reduce its dependence on coal over time, Madondo was asked how Thungela was adapting to that structural shift. "I think the policy environment in South Africa needs to get a lot more congruent about what our own objective as a country is and probably focus on that. "None of us is in disagreement about decarbonisation. It's the pathway of how we do that that's important. We should decarbonise in a manner that ensures that our people get jobs, create value for our people. At Thungela, we look at what the world demands and needs from coal and those demands and needs are growing and they are sustained. And certainly, in the developing world, it continues to be that obvious," Madondo responded. Accenture Mining Africa head Allen Makamure, who served as co-chairperson, questioned Madondo on Thungela's deliberate choice to remain a pure play coal company, while others have been hedging and diversifying. "You have been in the CEO role for a year. What have you seen that confirms this conviction, and what, if anything, has tested it?" Makamure asked. "You're starting from where we were probably ages ago to where we are today. I think we're a lot further down the road, in a better space in terms of where the conversation is landing, maybe helped by other global events that have helped to change the narrative. "Thungela has been around now five years and has established a business that is looking good and doing some good work, not only in the communities where we serve, but also through environmentally responsible good stewardship as a coal business, and we continue to make positive impact. We still own largely only coal mining operations. We are busy with a gas project now in Lephalale, which we are excited about. Here is the reality: Thungela has never said that they're not looking at any other opportunities. We've always said that we're about creati...

  4. 1 day ago

    Optimum back from the dead with historic dragline returned to production

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The troubled Optimum Colliery, having emerged from a business rescue process in February 2024, is being rapidly revived with a multibillion-rand investment from Liberty Coal to ramp up mining, processing and exports. This investment – in excess of R3-billion to date – is driving significant revitalisation activity around the once expansive and highly productive mining complex. Acquired by Liberty in February 2024 as part of a successful business rescue transaction, Optimum has a long history in South Africa's coal mining sector, dating back to 1970 when the complex was developed to supply coal to State power utility Eskom's Hendrina Power Station. The power station is less than 2 km from Optimum's heavy dense media separation (HMS) plant and less than 5 km from Optimum's mine offices. Mining Weekly visited the vast 38 000 ha mining complex on July 21, where a newly refurbished dragline was seen in operation at the Kwagga mine – a single renewal project that in itself cost Liberty R460-million. In its heyday, Optimum Colliery operated the most extensive fleet of the biggest models of draglines in the whole of Africa, according to a senior mine representative. Draglines the size of the 100 m-long-boom Marion 8200 are no longer manufactured, but would carry a price tag of about R2-billion in the current economic climate if they were, as confirmed by a Kwagga mine representative involved in its restoration. Liberty Coal COO Peter Nordin said a single dragline replaces eight excavators and enables significant economies of scale for the company and, as a result, its restoration was an easy decision to make. He added that because a dragline has not been successfully recommissioned in South Africa for nearly six years, Marion 8200 Number 3's restoration was "a significant moment in Liberty's achievements" to date. Mining Weekly visited the mine in December 2022, where two Marion 8200's and a Bucyrus dragline were observed parked, derelict and in a state of disrepair after years of abandonment following Optimum's decline in the years of State capture after the Gupta family acquired it in 2015. These draglines – which can excavate coal to depths of nearly 80 m while hoisting about 135 t of material in a single scoop – enable Liberty to undertake large-scale overburden stripping to expose underlying coal seams. As part of the dragline refurbishment project, major load-bearing components underwent structural integrity assessments and non-destructive testing, while the machine's bucket, rigging and fairlead assemblies were inspected and refurbished to optimise performance. The walking mechanism, slew system and lubrication systems were also serviced to restore full operational reliability. In terms of acquiring skilled dragline operators, Nordin said Liberty Coal was fortunate to be in the vicinity of other current dragline operations, with one particular such operation recently having ceased some dragline duties. Liberty plans to refurbish the other two draglines at Kwagga mine, with a feasibility exercise set to be undertaken on resorting the other Marion 8200 in 2027, following which some parts (with a lead time of up to 24 months) will need to be manufactured. The Bucyrus restoration will be undertaken once the second Marion is operationalised. "Within the next five years, we will have three draglines operating," stated Nordin. In terms of amalgamating the various detached mines that made up Optimum in the past, he said Liberty has consolidated the nine previously separate opencast mines at Optimum under a single mining right now registered to the company. Liberty is also advancing plans to revive the historic Boschmanspoort underground mine within the same mining right, with production expected to beg...

  5. 1 day ago

    Australia's Lynas flags cost overrun after revenue miss, shares tumble

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Australia's Lynas Rare Earths on Wednesday warned of a cost overrun at its heavy rare earths expansion project in Malaysia after reporting fourth-quarter revenue below analyst expectations, sending its shares to a more than five-month low. The world's largest rare earths producer outside China said the estimated cost for the Malaysia project rose to nearly A$294-million from A$180-million, underscoring the challenges Western producers face in producing the niche metals. Lynas said the next step at the project is first production of gadolinium in early fiscal 2028, yttrium in early calendar year 2028 and, finally, lutetium. Shares of the company fell as much as 9.1% to A$14.510, their lowest level since February 6, and were the top laggard on the benchmark S&P/ASX, which was up 0.1%. The quarterly revenue was however Lynas' strongest in four years, helped by incentives that supported prices for Western producers of rare earths, a group of metals used in renewable energy and defence. "Customers continue to focus on securing sustainable, outside China supply chains due to geopolitics and export restrictions," Lynas said in a statement. Quarterly sales revenue jumped nearly 70% to A$288.9-million ($202.2-million), but was about 20% below the Visible Alpha consensus estimate. The weaker-than-expected sales result overshadowed gains in pricing. The average selling price rose to A$98.2/kg from A$60.2/kg a year earlier. The company said ore quality issues at its Mt Weld project in Western Australia affected production, with total rare earth oxide output rising to 3 481 tons from 3 212 tons a year earlier, but coming in 10% below the Visible Alpha consensus estimate.

  6. 2 days ago

    Mammoth regional tailings dam is centrepiece of DRDGOLD's R10bn expansion

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The centrepiece of the R10-billion five-project Vision 2028 of DRDGOLD is the mammoth regional tailings storage facility (RTSF) at Far West Gold Recoveries surface retreatment operation, near Carletonville, in South Africa's Gauteng province. The commissioning of the fully lined RTSF, which covers an area of 800 ha, is being sequenced through defined regulatory, construction and seasonal gates. Targeted in the first quarter of financial year (FY) 2028 is stable production of 1.2-million tonnes a month with an opportunity to double that to 2.4-million tonnes a month. Once developed, RTSF, which is 67% complete, will accommodate up to 800-million tonnes of tailings and support the long-term production profile of Far West Gold Recoveries for many decades to come. Highlighted on the final slide of a 27-slide RTSF construction-focused presentation by DRDGOLD COO Jaco Schoeman was a near-term opportunity to recover 120 kg of gold by increasing the treatment capacity at Driefontein Two (DP2), also a Vision 2028 project. (Also watch attached Creamer Media video.) "We have an opportunity to increase the treatment capacity at DP2 from 500 000 t a month to 600 000 t a month, up to a point in time when we then anticipate bringing the Libanon tailings dam online. As soon as Libanon tailings dam is brought online, we can increase the treatment capacity from 600 000 t up to 1.2-million tons per plant. "So, during this period, there's an opportunity to increase it from 500 000 t a month to 600 000 t a month for a six-month period, which equates to 120 kilograms of gold. But this is dependent on getting regulatory approval, getting the Libanon facility up and running, and making sure that the construction is happening on time. "It is also weather dependent. Additional rain poses a risk for this facility. Therefore, the current planning for us is to continuously look at this opportunity and see how the construction of this facility is proceeding. "But eventually, after quarter four of 2027, we intend to then ramp up to 1.2-million tonnes a month, and this is to ensure that we do not compromise the RTSF facility, making sure that it's constructed in a responsible manner," Schoeman stated in the presentation in which DRDGOLD CEO Niël Pretorius and DRDGOLD CFO Henriette Hooijer also participated. All the water from the R3.4-billion RTSF ends up in reclamation stations, for use in a closed water circuit. The first phase of the three-phase project is to get authorisation to begin deposition while still constructing the rest of the dam during Phase 2 and Phase 3. For the first phase, the RTSF requires what is termed beneficial occupation, that is, authorisation to start depositing on part of the tailings facility, while still constructing the rest of the dam as part of Phase 2 and Phase 3. Displayed was the large area that needs to be lined, parts already lined and areas associated with considerable drainage. Ahead of receiving beneficial occupation, water that falls on RTSF's lower southern area needs to be drained. The topography slopes from north to south and a temporary stormwater drain canal is being installed in the south. At this point in time, all water drains through that stormwater canal, but once beneficial occupation authorisation is obtained, the stormwater canal must be sealed off. Drainage comes in the form of radial drains, which extend into the basin of the RTSF, the borrow pit drain that extends around the tailings dam on the inside of the starter wall, the main drain that recovers water from the inside of the basin and the floor of the tailings dam, an intermediate drain and a toe drain. Once depositing commences, deposition will be on inside drainage, which is called upstreaming and at a point in ...

  7. 2 days ago

    BHP resumes negotiations with Port Hedland iron-ore unions

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. BHP and unions representing workers at Western Australia's Port Hedland, the world's largest iron-ore export hub, edged closer to a deal on Tuesday, though talks ended without an agreement and will resume next week, the union said. Port Hedland is a major artery for Australia's iron ore, through which $80-million of BHP's products transit each day. The world's largest listed miner has been in negotiations for more than seven months with unions representing around 450 operators and maintenance workers for a four-year enterprise agreement. On Thursday, "well over" 100 workers at its Port Hedland iron-ore operations downed tools for an eight-hour stoppage, according to a union estimate. Combined Ports Unions, which represents three unions, had previously estimated as many as 200 workers would join the action. "Our focus remains on making constructive progress towards fair and reasonable agreements," BHP said in a statement. "We are committed to continuing to bargain in good faith on new workplace agreements across our iron ore operations and believe that the involvement of the independent Fair Work Commission for Port bargaining is the most constructive way to achieve the best outcome." The Fair Work Commission is an industry regulator that can be brought in to assist in the bargaining process and can ultimately become the final arbiter of any deal. "It hasn't seemed to have disrupted operations too much at the moment," said portfolio manager Andy Forster of Argo Investments, which holds BHP shares. "It's clearly concerning if it starts to lead to further action and more interruptions," he said, adding that for now, any impact appeared to be contained, and that BHP appeared hopeful an agreement could be reached. The Electrical Trades Union, which represents electrical workers at Pilbara port, estimated that on average it was asking for an extra A$25 000 ($17 510) per worker for the 450 workers. Fly-in-fly-out roles, where workers commute by plane to remote mine sites, missing family time, could no longer compete with city conditions, the ETU said in a statement. "In the past, workers could double Perth wages if they worked in the Pilbara ... This is no longer the case." Its analysis found that wages for long-standing employees across BHP's iron-ore operations remained largely stagnant over the last five to six years, despite consistent corporate growth and rising living costs in regional and remote areas. "In contrast, new hires are being offered higher rates to attract them to site, often creating a two-tiered workforce where experience is undervalued and equity is undermined," it said. Last week, electricians maintaining BHP's high-voltage power network in Western Australia's Pilbara region overwhelmingly backed strike action, escalating labour unrest. They will meet with BHP for talks on Thursday.

  8. 3 days ago

    Timing of R10bn capital spend 'could not have been better', DRDGOLD CFO points out

    This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. When the R10-billion five-project Vision 2028 expansion plan of Johannesburg Stock Exchange-listed surface gold company DRDGOLD was conceived in 2024, its market capitalisation was about R13-billion and the gold price R1.2-million per kilogramme. Currently, DRDGOLD's market capitalisation is in the region of R30-billion and the gold price R2.1-million per kilogramme. "Our timing could not have been better," DRDGOLD CFO Henriette Hooijer pointed out during DRDGOLD's Vision 2028 update, in which DRDGOLD CEO Niël Pretorius and DRDGOLD COO Jaco Schoeman participated. (Also watch attached Creamer Media video.) With just over R5-billion already spent, DRDGOLD is roughly halfway through its Vision 2028 programme, with most expended on the Driefontein Two (DP2) project at Far West Gold Recoveries on the West Rand, the regional tailings storage facility (RTSF) also at Far West Gold Recoveries, and, in the current financial year, also on the Daggafontein tailings storage facility (TSF) at Ergo on the East Rand. As Vision 2028 proceeds into financial year (FY) 2027, very little capital remains to be expended on DP2 and Daggafontein, "so yes, we're tracking well", said an upbeat Hooijer, who emphasised how chuffed the team was to pour the first doré gold bar in the new DP2 smelt house on schedule and on budget on Tuesday, July 14. After the smelt, the 17 kg of gold was whisked away by helicopter off the new fully walled adjoining helipad. Capital spent still to be spent to FY2029 includes: R3.4-billion on the very large RTSF;R1.9-billion on DP2, where R880-million for an up-flow reactor (UFR) has also won board approval;R1.2-billion on the 135 km of pipeline network to serve DP2, RTSF and the Libanon TSF in Westonaria;R0.5-billion for the Daggafontein TSF at Ergo; andR3-billion for the Withok TSF on the East Rand. "A new feature is the UFR plant," Hooijer disclosed during the presentation covered by Mining Weekly. Most of next year's planned R2.6-billion expenditure relates to RTSF, a little bit on the pipelines and hopefully also commencement at Withok, where the original capital expenditure forecast of R2.5-billion has had to be increased to R3-billion on account of the impact that disruptive geopolitics has had over the last few months on the oil price and inflation. "We believed it to be prudent to re-evaluate, also based on the new information we got on Withok from a design point of view," Hooijer explained while adding that the R3-billion would still be refined as time passed and that the Withok construction timeline is also fairly fluid. POTENTIAL CODE-CRACKER The UFR is scheduled to be completed at Far West Gold Recoveries in the last quarter of FY2027. "We did some testwork. We liked what we saw. We took a recommendation to the board and we've been given the go-ahead to build an Aztec up-flow reactor. "This is frontier stuff for us, so whilst we're very happy with the pilot work, which was not laboratory scale testwork but proper pilot plant testwork, this technology has not been tested in real world conditions and we'll only know what the contribution of the UFR will be once we see it. "So, we're not updating any of our forecasts or any of our guidance in terms of what we believe this reactor will deliver until we've seen real world numbers. It's an important development, though, and we hope that it lives up to expectations," Pretorius explained. The mammoth RTSF can take far more than its initial throughput of 1.2-million tons per month. This large facility has the capacity to accommodate double that, with throughput potentially being incrementally increased by 600 000 t a month over the next seven years. "What we need to do now is to find the additional opportunities to take it up to those add...

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MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.

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