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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. 1 day ago

    Modernisation of South African mining is an 'urgent strategic priority'

    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. Mining modernisation, with private and public sectors as drivers, is an urgent strategic priority for the South African economy, a study undertaken by industry leaders, researchers, government partners, and innovators from across the South African spectrum reported very forcefully this week. "We see that our competitors are investing heavily in digitisation and automation, as well as critical minerals and beneficiation. "They're moving really quickly, and because they're moving really quickly, they're able to attract a lot of investment," Research Institute for Innovation and Sustainability (RIIS) consultant Ashleigh Muller reported during the Modernisation Showcase that displayed a strong partnership between Minerals Council South Africa, the Centre for Science, Technology and Innovation Indicators' specialised research unit within South Africa's Human Sciences Research Council, PwC Smart Mining, the Department of Science, Technology and Innovation, and the National Advisory Council on Innovation. (Also watch attached Creamer Media video.) "We know that mining is a significant contributor to our national GDP. We also have a really strong mineral wealth endowment. We have established historical markets that we can make use of, and most importantly, we have a legacy of mining experience that we can draw from. "But the problem is that the benefits that come from these advantages are increasingly being offset by … aging infrastructure, lack of skills, and slow adoption of technology really hinders our ability to be globally competitive. "I think everyone in this room understands that South Africa … has an adoption and implementation problem. South has the raw materials to lead but the regulatory, skills and technology gaps must be closed with urgency and coordination," Muller pointed out. The purpose of the global benchmarking of South African mining was to understand the best practices being undertaken by other mining jurisdictions across the globe and to see what lessons South Africa could learn and implement from them. "Not necessarily because we're looking for a copy-paste solution. We understand that each mining jurisdiction is unique, but there are lessons to be learned from each of the nine", which were classified under the categories of 'visionaries' – Australia and Sweden – 'competitors' – Canada, China and Chile – and 'contemporaries' – US, India, Brazil and Saudi Arabia. The only 'green' achieved by South Africa was in markets and value chains. South Africa's 'reds' were under the headings of 'enabling environment' and 'advanced technology' and 'yellows' in the categories of human capital, sustainability, health, safety and security and exposed were the critical gaps of technology adoption, enabling environment and governance. INNOVATION PRIORITIES Drawing on work published by South Africa's State-owned CSIR and public research initiative Mandela Mining Precinct, seven innovation priorities for the uplifting of South Africa's mining sector were identified, namely: diigital transformation and automation,;exploration and mineral intelligence; research and development intellectual property; decarbonisation and energy modernisation; inclusive and responsible innovation; andvalue addition and beneficiation. These priorities align closely with South Africa's Cabinet-approved Critical Minerals & Metals Strategy, which is designed to create 2.3-million jobs and boost mining's contribution to GDP to 12% by 2030 through local beneficiation, but with success dependent on the resolution of energy, logistics, skills and regulatory issues. South Africa's innovation priorities were described as being well-defined but in need of implementation speed, funding, and cross-sector coordination to eradicate...

  2. 1 day ago

    Martin Creamer talks about China's PGMs focus, AI efficiencies and DRDGold's R10bn expansion

    Mining Weekly Editor Martin Creamer talks about China’s Five-Year Plan, which has a focus on platinum group metals; the benefits of AI efficiencies, particularly for lower quality operations; and DRDGold’s regional tailings storage facility, which forms part of its R10-billion ex

  3. 1 day ago

    Newmont tops profit estimates on higher gold prices, sees steady output

    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. Newmont, the world's biggest gold miner, beat second-quarter profit estimates on Thursday after a rally in bullion prices outweighed the impact of lower output, while it forecast steady production in the third quarter. Gold has rallied on safe-haven demand and hopes of US interest rate cuts, although a stronger dollar and a crude oil-led inflation scare amid the Iran war have occasionally limited gains. Prices of the yellow metal averaged $4 506.41/oz in the second quarter, up about 37% from a year earlier. Newmont's quarterly average realized price for gold was at $4 414/oz, compared with $3 320/oz a year ago. Quarterly gold production fell to 1.29-million ounces, from 1.48-million ounces a year earlier, hurt by lower output at Cadia owing to seismic events and at Ahafo South, Penasquito and Yanacocha owing to lower grades from planned mine sequencing. Earlier this month, Newmont said the expansion of its Red Chris mine in British Columbia would depend on whether the project fits within its capital allocation framework and delivers value accretion. CEO Natascha Viljoen said on Thursday Newmont has received all critical approvals and is working with the British Columbia government on mining investment terms. But the C$500-million ($355.09-million) support "that we received from the British Columbia government is not a pre-requisite for us to take a decision on Red Chris Mine," she said. The company expects third-quarter gold production to be broadly in line with second-quarter output. Operations at Cadia returned to normal levels as of mid-June. Newmont said unit costs are expected to increase in the third quarter, mainly owing to higher sustaining capital spend, and could also be affected by higher oil prices, while remaining sensitive to royalties tied to gold prices. The miner expects to invest $1.4-billion of development capital in 2026. Newmont posted an adjusted profit of $2.10 apiece for the quarter ended June 30, compared with analysts' average estimate of $1.99, according to data compiled by LSEG.

  4. 2 days 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...

  5. 2 days 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.

  6. 2 days 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...

  7. 3 days 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...

  8. 3 days 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.

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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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