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  1. 7 HRS AGO

    West Wits pours first Qala Shallows gold at Sibanye-Stillwater's Ezulwini plant

    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. First blast October, first pour March. It's just go, go, go for Australia-listed West Wits Mining as it streaks ahead at a time of sky-high gold prices. The highly impressive and safe manner in which the metallurgical team at the Sibanye-Stillwater Ezulwini gold smelting plant went about processing of first gold from Qala Shallows on March 17 was a pleasure to behold. "It's really great to host the West Wits team," Sibanye-Stillwater VP Ayanda Shabalala said at the event attended by West Wits chairperson Michael Quinert and West Wits CEO Rudi Deysel. "We start off with the processing of about 10% of West Wits material and that goes up over the next three years to about 80%. "We're looking forward to a very full relationship between ourselves as Sibanye and West Wits," added Shabalala, at the event that Mining Weekly attended. Ezulwini, which means 'in heaven', has the capacity to process 130 000 t a month. West Wits' Qala Shallows is expected to contribute more than $1.15-billion to the South African economy over its 17-year life, supported by a steady-state production profile of 70 000 oz/y for 12 years. The latest compliant mineral resource estimate of the Witwatersrand Basin project of Sydney-listed West Wits Mining is up 2.2-million ounces. The project is situated a mere 15 km west of Johannesburg. "We want to be your strategic partner, because South Africa is blessed with still a lot of resources that haven't been exploited, which I think the world's starting to see. We've got 17 years life-of-mine on this project, and we can see it going much longer, 25 to 30 years – and why build a new plant when there's a perfectly good plant here, which is what attracted us to the whole idea of being a strategic partner with Sibanye," said Quinert. "Initially it's a bit hard for a really big company to deal with a smaller company, but slowly we're becoming bigger and I think once we get over all those issues, we're sort of now well positioned to take this forward together because the last thing we really want to do is build our own plant. So, we want to be with you guys to make this gold mine happen," Quinert added. The smelt house visit placed major emphasis on safety protocols, with Shabalala expressing the hope that the partnership enhances safety, as a key value, and also innovation. "We need to look at what else can we do together, how best we can improve production, both from a tonnage point of view as well as from an efficiency point of view. So, I'm excited. If you're saying you want to grow and actually supply more, we'll say supply more, even starting now. We really are hungry for good quality material that will help to earn value. "Together we can extract some synergies, that can add value, create employment, create value for the communities, the employees, the shareholders; I'm really looking forward to a long-term relationship that creates win, win outcomes for everyone," added Shabalala. Deysel took the opportunity to invite the Ezulwini team to visit Qala Shallows "because I think we share absolutely the same view on how we want to operate. I actually would like you guys to come and visit our little mine, which has started up and which is growing." ASX-listed West Wits Mining has started a scoping study under its Project 200 initiative within the broader Witwatersrand Basin project (WBP). Project 200 is a strategic growth initiative aimed at assessing the potential to scale WBP toward an aspirational target of a 200 000 oz/y gold production. The new Qala Shallows gold mine is not only a milestone for West Wits Mining but also for South Africa's mining industry, the South African economy, and the communities that will share in the opportunities created here, Minerals Council South Africa...

    4 min
  2. 7 HRS AGO

    Many 'great' gold opportunities in South Africa, West Wits chair says at first gold pour

    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. Many more "great" opportunities exist in South Africa for gold mine development, West Wits Mining chair Michael Quinert emphasised on March 17 when the first gold pour from his new virgin rock Qala Shallows gold mine took place at Sibanye-Stillwater's Ezulwini gold processing plant. Quinert said it was "fantastic" for a company of the stature of Sibanye-Stillwater to lay on a gold processing plant for West Wits. Quinert was speaking to Mining Weekly in a video interview at Ezulwini. (Also watch attached Creamer Media video.) What's more, its relative 800-m shallowness also translates into lower costs. "Who would have thought we'd find a seven-million-ounce resource, basically at surface. If we were in Australia, people would be doing back flips. So, you know, we're very pleased to come here. We're really committed to the country, and we think there's a big future for South African mining." Qala Shallows is staffed overwhelmingly by South Africans and is considering a listing on the Johannesburg Stock Exchange. Mining Weekly: Qala means it's just the beginning and Shallows points to it being pretty shallow. Quinert: That's what we're trying to broadcast because most people think of South African mining being deep, everything's called deep, but this is shallow. We're starting at level two. So, it means it's more straightforward. Our costs are better, and it shows there are some fantastic orebodies still here ready to be exploited. So, what'll you do next? Well, we're looking to expand the project. You know, this is only the beginning. It is only the beginning. This is a 17-year life-of-mine producing a steady state 70 000 oz. But we think we can take this all the way to 200 000 oz. There's a massive resource there on the Jorc statement now, of seven-million ounces. It's all at good grades, so we've got to do the work and the feasibility on expanding it. But we think Qala is a great start. Give us a bit of history of how this all came about. I came here as a lawyer, of all things, in the early 2000s to work on some projects for some clients, that ended up being the Ergo plant, which DRDGOLD are now owning. And it also ended up being some of the assets that Pan African are mining on the West Rand, and this company, West Wits, was really a spin-off of some of the assets that came out of that project. I was asked, would I be chairman, and I said, yes, great, thinking that as chairman, I can sit around and do what I want, but no, it's been a lot of work, but it's been worthwhile. And here we are, after all this time now, pouring gold on this fantastic day on the West Rand. The situation here at Ezulwini is quite impressive. I think it's fantastic to be with a company of the stature of Sibanye-Stillwater and to take a small mining company like us on. We've had some great relationship-building with them, and they're very keen to see the project work and we do believe that this can be a catalyst for starting overseas investment into South Africa to exploit these wonderful assets. Australian investors are going to West Africa, East Africa, places that have far less to offer in terms of stability, opportunity and resources and the people here, the skills you have here in South Africa. I mean, you basically run mining in all of Africa, so why not come here and use your skills locally and so we're looking forward to building that relationship with our South African friends. None of these things are down to one person. There's a huge team that sits behind what we've done, of consultants, but I can proudly say for you guys that there's only two Australians now in this whole company of over 250 people. They're all South Africans, and all our consultants, all our engineers, everyone's South African. So, while w...

    4 min
  3. 1 DAY AGO

    Gold's Middle East disruption confined to region, World Gold Council strategists note

    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. Gold trade disruption caused by the war in the Middle East should not be compared with that of the global impact experienced during the Covid pandemic but should rather be viewed as a regional interruption. "While the physical flow of gold has been temporarily interrupted in some regions, the gold industry's diversity is ensuring that if you can't get gold from Dubai, you can probably get it from Singapore and you can certainly get it from Switzerland," World Gold Council senior market strategist John Reade and World Gold Council senior market strategist North America Joseph Cavatoni agreed as they unpacked gold's sharp reaction to escalating conflict in the Middle East, its initial surge following geopolitical tensions, before levelling out as markets absorbed the shock. "If necessary, there are also quite a few kilo bars in New York after last year, which could be used to supply markets where they need to so. "This is not a rerun of Covid…but it is something to keep an eye on," the gold strategists emphasise. Looking ahead, they expressed the opinion that investors should expect elevated volatility to persist amid ongoing geopolitical risks and disruptive global policy dynamics – conditions that are shaping not just gold, but broader financial markets in 2026. The Middle East conflict resulted in an immediate rise in the gold price as a reaction to the conflict amid the potential impact of the closing of the Strait of Hormuz between the Persian Gulf and the Gulf of Oman, which provides the only sea passage from the Persian Gulf to the open ocean and is one of the world's most strategically important choke points. Protraction of closure through conflict could impact safe haven assets like gold, which traded up to around about $5 500/oz the Monday following the attacks on Iran, and at the time of going to press were in the $5 100/oz range. '"I certainly don't think that means that this is over in terms of gold moves associated with the Middle East conflict. I just think that investors and traders are settling down a little bit after the initial shock. "But it is interesting to speak to some people in the market. About supply chain issues, obviously, Dubai is an important physical hub for global gold supply. "I was ballpark estimating this morning, something like about 20% of physical flows in gold go through Dubai. "Not much is consumed there itself, but it takes an awful lot of gold, particularly from artisanal and small scale gold mining activities across Africa, and that gold then ends up, typically, into the broader Middle East region, and into India," Reade pointed out in the World Gold Council's release to Mining Weekly. Disruption to the global gold supply chain is linked to Dubai, in the United Arab Emirates, and Doha, the capital of Qatar, being major international flight hubs, but this is not expected to be protracted because gold flows will be re-routed into the important consuming markets of China and India. The London and Shanghai exchanges are reported working fine at the moment. Expectations are that materially higher gold volatility levels are likely to be sustained at these higher levels for the foreseeable future. Since gold started to trade materially higher in 2024, volatility has been ticking higher and its elevation accelerated 2025. "With what has happened so far this year, in January, and now with this Middle Eastern conflict, implied volatility is high. We're sitting at a level of about 28 volatility for three months, implied, and that's a pretty high level indicative of everything we've discussed in terms of the conflict. "But I wouldn't expect it to rapidly fall back to the $1 500/oz to $1 800/oz level that we saw a few years ago. "I think that the changing nature of...

    5 min
  4. 1 DAY AGO

    Gold's Middle East disruption confined to region, World Gold Council strategists note

    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. Gold trade disruption caused by the war in the Middle East should not be compared with that of the global impact experienced during the Covid pandemic but should rather be viewed as a regional interruption. "While the physical flow of gold has been temporarily interrupted in some regions, the gold industry's diversity is ensuring that if you can't get gold from Dubai, you can probably get it from Singapore and you can certainly get it from Switzerland," World Gold Council senior market strategist John Reade and World Gold Council senior market strategist North America Joseph Cavatoni agreed as they unpacked gold's sharp reaction to escalating conflict in the Middle East, its initial surge following geopolitical tensions, before levelling out as markets absorbed the shock. "If necessary, there are also quite a few kilo bars in New York after last year, which could be used to supply markets where they need to so. "This is not a rerun of Covid…but it is something to keep an eye on," the gold strategists emphasise. Looking ahead, they expressed the opinion that investors should expect elevated volatility to persist amid ongoing geopolitical risks and disruptive global policy dynamics – conditions that are shaping not just gold, but broader financial markets in 2026. The Middle East conflict resulted in an immediate rise in the gold price as a reaction to the conflict amid the potential impact of the closing of the Strait of Hormuz between the Persian Gulf and the Gulf of Oman, which provides the only sea passage from the Persian Gulf to the open ocean and is one of the world's most strategically important choke points. Protraction of closure through conflict could impact safe haven assets like gold, which traded up to around about $5 500/oz the Monday following the attacks on Iran, and at the time of going to press were in the $5 100/oz range. '"I certainly don't think that means that this is over in terms of gold moves associated with the Middle East conflict. I just think that investors and traders are settling down a little bit after the initial shock. "But it is interesting to speak to some people in the market. About supply chain issues, obviously, Dubai is an important physical hub for global gold supply. "I was ballpark estimating this morning, something like about 20% of physical flows in gold go through Dubai. "Not much is consumed there itself, but it takes an awful lot of gold, particularly from artisanal and small scale gold mining activities across Africa, and that gold then ends up, typically, into the broader Middle East region, and into India," Reade pointed out in the World Gold Council's release to Mining Weekly. Disruption to the global gold supply chain is linked to Dubai, in the United Arab Emirates, and Doha, the capital of Qatar, being major international flight hubs, but this is not expected to be protracted because gold flows will be re-routed into the important consuming markets of China and India. The London and Shanghai exchanges are reported working fine at the moment. Expectations are that materially higher gold volatility levels are likely to be sustained at these higher levels for the foreseeable future. Since gold started to trade materially higher in 2024, volatility has been ticking higher and its elevation accelerated 2025. "With what has happened so far this year, in January, and now with this Middle Eastern conflict, implied volatility is high. We're sitting at a level of about 28 volatility for three months, implied, and that's a pretty high level indicative of everything we've discussed in terms of the conflict. "But I wouldn't expect it to rapidly fall back to the $1 500/oz to $1 800/oz level that we saw a few years ago. "I think that the changing nature of...

    5 min
  5. 4 DAYS AGO

    Mintek spearheading rare earth element recovery from discard coal, fly ash

    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. South Africa's State-owned mineral research organisation Mintek is spearheading a far-reaching research initiative into the recovery of rare-earth elements (REEs) from South Africa's abundant reserves of discard coal and coal fly ash. "We're fundamentally reimagining the role of coal in the modern era by looking far beyond its traditional use as a primary energy source. We no longer see coal and its by-products as mere fuel or waste, but rather as a strategic reservoir of the very minerals that will power the global high-tech future," Mintek CEO Dr Molefi Motuku explained in a media release to Mining Weekly on Friday, March 13. Despite the use of the word 'rare' in its name, REEs are relatively abundant but seldom found in concentrated, easy-to-mine deposits. Historically, a significant technical hurdle involving silica dissolution has stifled the dream of extracting these materials from coal waste owing to silica often leaching into the solution during traditional processing, which causes REE loss and creates a thick, gelatinous substance that halts production by clogging downstream machinery. To bypass this obstacle, Mintek's hydrometallurgy division has turned its focus toward coal fly ash, the fine powder left over after coal combustion. Targeted is the extraction of a "basket" of critical mineral REEs for application alongside silica, iron, and mullite in broader industrial use. In addition to REEs, the discard reportedly also hosts vanadium, titanium, alumina, gallium, and germanium. In a global landscape defined by the relentless race for green energy and high-tech sovereignty, REEs are used in high-efficiency wind turbines, high-performance magnets, and the microelectronics that power modern life. Demand for these minerals is creating a strategic imperative for nations to secure their own supply chains as the global economy shifts toward renewable energy and decarbonisation. South Africa is now positioning itself to recover REEs as part of the National Critical Minerals & Metals Strategy and at the same time enable mineral beneficiation and advanced manufacturing. "This integrated approach directly supports the South African government's strategy by fostering local beneficiation, ensuring that the nation does not simply extract resources but processes them into high-value components," Mintek stated. Mintek sees pioneering the extraction of REEs and other critical metals from coal fly ash as having the potential to anchor a new era of industrial growth. The vision has won the support of Coaltech, which approved a compelling funding proposal from the Mintek hydrometallurgy team. Mintek executive manager hydrometallurgy Dr Elmar Muller noted that securing this funding serves as a profound testament to the industry's trust in Mintek's ability to solve complex, real-world challenges. He believes this partnership reinforces a national commitment to critical materials recovery and showcases how cross-sector collaboration can drive the South African minerals sector into a more competitive and resilient global position. Mintek engineer and project lead Agnes Modiga expressed the belief that the project has the power to transform environmental liabilities into valuable products, while simultaneously reducing dust emissions and land contamination for local communities living near coal sites. Beyond the immediate benefits of environmental stewardship, the initiative is designed to create new, specialised jobs and bridge a critical skills gap in the engineering sector while also stimulating local manufacture, driving industrial diversification, and creating sustainable jobs across multiple sectors, by turning waste into economic growth. Ultimately, this work is about positioning South Africa as a g...

    4 min
  6. 5 DAYS AGO

    Harmony studying high-margin surface gold projects in Free State and West Wits

    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. Harmony Gold Mining Company is progressing studies to recover the gold from its Free State tailings dams as well as those that span the West Wits area around its Mponeng gold mine. The Johannesburg Stock Exchange-listed company's Free State tailings alone host 5.7-million ounces of surface gold. "We've not progressed those studies to the full extent yet. We're in the process of doing that, which will firmly fit into the quadrant of our surface production, which is high-margin safe production for the future," Harmony Gold CEO Beyers Nel pointed out to Mining Weekly following this week's declaration by Harmony of a record R3.4-billion half-year dividend. (Also watch attached Creamer Media video). "We are most pleased to return more of the gold-price tailwind upside over the last while to our shareholders while also replacing ounces mined." In addition to Harmony's investments in the CSA copper mine, which Nel describes as being "phenomenal", and Eva copper project, in Australia, he spoke of South Africa Inc looking up, "and we're also quite positive about investing back into South Africa in order to sustain jobs and to make sure that South Africa's gold mining industry continues to be as strong as it always has been." Mining Weekly: During the presentation, you twice used the word phenomenal. The first was about CSA. You said, 'this is a phenomenal orebody'. Can you tell us why you used the word phenomenal? Nel: CSA is the highest-grade copper orebody in Australia. It's got a 3% reserve grade and we've got new drill intercepts there, which already indicate potential mine life extension. We're very excited about that orebody, which I think is going to be very valuable going forward. But it's an orebody that, technically, we need to de-constrain, both on the ventilation side and through the creation of the necessary underground flexibility, so that we can have consistent, predictable production coming from the CSA mine. You also used "phenomenal" when speaking about Wafi-Golpu in Papua New Guinea. We've been hearing those two words Wafi and Golpu for decades now, but I got the feeling during your presentation that we're getting a bit closer to seeing operational activity there. Wafi-Golpu's a once-in-a-generation asset and that's why we use the word phenomenal. It's a porphyry, so it will be a big, bulk underground copper/gold mine. Not a narrow tabular or a batching process or an openpit mine, but a big underground block cave mine. Quality gold and quality copper are going to come from Wafi-Golpu. I wouldn't risk saying we're getting closer, but we're certainly progressing the discussions with the Papua New Guinean government, through the Spear Review Team, as well as the State Negotiating Team and our JV partners, to take the mine up the value curve. The very next step is getting the mining permit, remembering that a mining permit in Papua New Guinea has got a 40-year tenure. So, yes, it's been taking long. It's been taking maybe longer than anticipated, but with such a long tenure it's important to get it right, and the quality of the asset is so good that it's worth the wait and worth getting the permit conditions 100% right for maximum value for all stakeholders. Regarding South Africa's cyanide, tell us about the solution you've come up with in briquette form. Yes, sodium cyanide is the main reagent we use to extract the gold out of the gold-bearing ore. It's a chemical that we use, and we get it in liquid form. We're not manufacturing or developing the cyanide briquettes ourselves. There are other players in the industry that followed the same strategies. This is just flexibility and supply chain alternative, which is a fixed form called a cyanide briquette that one can import from overseas...

    6 min
  7. 6 DAYS AGO

    Strong cash generation enabling Harmony to fund a future in both gold and copper

    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. South Africa's largest gold-mining company Harmony Gold is building a resilient portfolio by investing continuously in its orebodies while growing in copper to protect cash flows through the commodity cycle, Harmony Gold CEO Beyers Nel highlighted during the JSE-listed group's declaration of record interim dividend payout of R3.4-billion. The dividend involves a total payout of 43% of net free cash and an increase of 23% over the previous dividend policy, which is now revised to allow for up to 50% of net free cash to be returned to shareholders, Harmony FD Boipelo Lekubo outlined at the presentation, which reported 9% lower half-year gold production of 724 000 oz and 21%-higher all-in sustaining costs of $2 115/oz. (Also watch attached Creamer Media video.) "The cash we're generating today is enabling us to fund a future in both gold and copper," an upbeat Nel reported during the well-attended presentation covered by Mining Weekly. The operating profit of Harmony, which is a geographically diversified producer with assets in South Africa, Papua New Guinea and Australia, was up 61% at R16-billion on 11% lower but in-line underground recovered grade of 5.72 g/t. Basic earnings per share were up 24% at 1 563c. Harmony's portfolio is underpinned by 136-million ounces in mineral resources and about 37-million ounces of mineral reserves providing scale, longevity and optionality. "Gold remains our core, while copper is our strategic growth lever," Nel explained. Harmony plans to bring 100 000 t of copper online a year from Australia within the next few to five years. "Guided by long life asset optimisation and disciplined capital allocation, we prioritise value over volume to build a more profitable and sustainable Harmony over the long term. "We're not targeting a fixed copper-to-gold ratio. Our decisions are driven by fundamentals, economic value and reserve strength. By financial year 2035, 40% of production may be copper from Eva and CSA, both in Australia, and from Wafi-Golpu in Papua New Guinea, "complementing our South African gold base and enhancing resilience and also margins. Operational fundamentals remain firmly intact, despite some short-term headwinds," Nel noted. The lower 724 000 oz of gold reported for the reporting period was impacted by an industry-wide cyanide shortage and lower plant recoveries in South Africa. Although underground recovered grades decreased by 11% to 5.7 g/t, face grades mined were in line with our plans, and plant recoveries have reportedly now also normalised. Hidden Valley's production in Papua New Guinea was affected by a tectonic-related mill motor failure and gold shipping delays, which impacted the amount of gold sold during the period. Group all-in sustaining cost rose to R1.18-million per kilogram, or $2 115/oz, owing to lower volumes and much higher royalties paid. "I'm confident that we'll remain on track to meet full-year production cost and grade guidance. We're generating strong free cash flows. On the back of consistent strong operational and financial results, we've revised our dividend policy to reflect the higher base dividend and additional performance related payout. This means shareholders could receive up to 50% of net free cash as a dividend. "Our interim dividend has more than doubled, rewarding our shareholders alongside our growth aspirations. "Copper and gold are both intrinsically important to us, and Harmony is well positioned for growth," said Nel. Harmony's lost time injury frequency rate reached an all-time low of 4.23 and has remained below five for three consecutive quarters now. "We are deeply saddened by the loss of our colleague in the second quarter, because any loss of life is unacceptable and reinforces the need for cont...

    10 min

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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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