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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. 2 DAYS AGO

    Sale of South African chrome, PGM assets progressing well, Zambia-focused Jubilee reports

    This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability. Workstreams to conclude the sale by Jubilee Metals of its South African chrome and platinum group metals (PGM) operations are progressing well, the now Zambia copper focused London AIM- and Johannesburg AltX-listed company stated on Friday, October 17. Approval by South Africa's Competition Commission as well as delivery of the audited accounts for the disposal of the group for the year ending June 30, are the two remaining significant conditions precedent to the sale. Jubilee is hopeful that completion of the sale will be achieved by the end of this calendar year amid delivery of audited results for the financial year ending June 30 during the second half of November. "Our South African operations have delivered a solid performance whilst the sale of our South African chrome and PGM Operations is progressing to expectation," Jubilee CEO Leon Coetzer stated in a release to Mining Weekly. Shareholder approval received for the disposal of the South African chrome and PGM operations was received in August and the first $15-million of the sale consideration has been received in cash. In the three months to September 30, Jubilee stated in an operational and project update for South Africa that the lost time frequency injury rate for the period was 0.96, a 27.8% decrease compared with the previous quarter with one classified injury recorded. Chrome concentrate production for the three months to September 30 was an 11.2% lower 404 151 t compared with the corresponding period of last year owing mainly to the cessation in July of the OBB chrome ore supply contract but offset by increased production from Thutse operations. The OBB contract contributed the equivalent of 450 000 t/y of chrome concentrate while PGM tailings from the OBB processing facility continue to be processed at the Inyoni PGM facility. PGM production for the three months was a 10.1% lower 8 382 oz, with both decreases owing mainly to the impact of the cessation of the OBB contract on chrome concentrate and PGM feed supply. South Africa production guidance for Jubilee's 2026 financial year is 1.65-million tons to 1.80-million tons of chrome concentrate production and 36 000 oz to 40 000 oz of PGM production. The now Zambia-focused Jubilee first established its integrated multi-metals recovery and refining operational footprint in Zambia with the acquisition of the multi-metal Sable Refinery in Kabwe, in August 2019. The acquisition served as an entry point for Jubilee into Zambia, presenting a platform from which to pursue the various base metal opportunities and to begin actively engaging with third-party suppliers to develop strategic partnerships to grow copper production. Jubilee is focussing on growth in copper operations in Zambia where there is a supply of on-surface copper waste material and a junior mining sector with limited processing facilities.

    3 min

  2. 2 DAYS AGO

    Martin Creamer talks about: Africa collaboration, De Beers interest and reviving ferroalloy smelters

    Mining Weekly Editor Martin Creamer discusses the fourteenth Oppenheimer Research Conference hearing that Africa should collaborate to protect the planet; Botswana and Angola seeking an interest in De Beers and the opportunities it presents; and South Africa being urged to revive

    8 min

  3. 3 DAYS AGO

    More liquid DRDGOLD generates additional first-quarter cash

    This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability. The high gold price has increased liquidity and cash generated by DRDGOLD in the three months to the end of September, the first quarter of the 2026 financial year of this Johannesburg- and New York-listed surface gold mining company. Benefiting from uplifted liquidity and cash position will be DRDGOLD's extended capital expenditure programme for the 2026 financial year. A first-quarter operating update on Thursday, October 16, reported a marginal 2% revenue increase to R2 254.9-million amid a sustained high gold price of R1 943 398/kg and a 16 kg increase in gold sold to 1 158 kg. Despite a 3% decrease in throughput to 6 481 000 t, gold production rose by 2% to 1 191 kg, mainly the result of a 0.008g/t improvement in yield to 0.184g/t, DRDGROLD stated in a media release to Mining Weekly. Cash operating costs per kilogram of gold sold were also stable, increasing marginally by 3% to R955 086. The rise was mainly driven by annual labour increases and higher reagent costs - mainly lime and cyanide - at DRDGOLD's Ergo operation, east of Johannesburg on the East Rand, and mainly driven by annual labour increases at Far West Gold Recoveries, west of Johannesburg on the Far West Rand. Electricity costs increased because of two months of winter tariffs, which Eskom charges between June and August each year, being included in the first quarter. One of DRDGOLD's major cost saving measures has been the establishment of the large solar farm to supply cheaper renewable energy to Ergo. Far West Gold Recoveries incurred additional machine hire costs relating to the clean-up of the Driefontein 5 reclamation site. Cash operating costs per tonne increased by 8% to R179 owing to the same cost drivers and the decrease in throughput. All-in sustaining costs per kilogram were 5% higher at R1 066 287, despite a 58% decrease in sustaining capital expenditure to R51.5-million. In the final quarter of the 2025 financial year, all-in sustaining costs included a credit adjustment related to the change in rehabilitation estimate that is assessed annually. All-in costs per kilogram were 6% higher at R1 745 213 owing to a 9% rise in growth capital expenditure to R781.1-million, mainly relating to the Far West Gold Recoveries Phase II project, which includes the construction of the regional tailings storage facility and DP2 Plant expansion. Adjusted earnings before income tax, depreciation and amortisation were 1% higher at R1 092.1-million mainly owing to more gold sold and the higher gold price received. Cash and cash equivalents decreased by R257.1-million to R1 049.1-million from R1 306.2-million after paying the final cash dividend of R345.7 million for the 2025 financial year and capital expenditure (including prepayments towards capital items) of R751.8-million incurred during the quarter. DRDGOLD remained debt free as at September 30. As reported by Mining Weekly last month, DRDGOLD has outlined its plans to invest around R7.8-billion in its Big Five capital growth projects, two on the well-established East Rand and three on the fast-developing Far West Rand. The R7.8-billion capital investment is a medium-term forecast for the key projects within the Vision 2028 strategy, extending life-of-mine by at least 20 years for both East Rand and West Rand operations. Vision 2028 is working towards increasing throughput to three-million tons a month, boosting gold production to more than 200 000 oz/y, reducing the company's environmental footprint and maximising social impact. The plan now for Ergo on the East Rand is to expand the operation's lifespan to beyond 2040 to process a resource base previously thought non-viable. Increasing deposition capacity, however, would be vital until this could be achieved, by resuming deposition on to ...

    5 min

  4. 4 DAYS AGO

    Africa must collaborate to protect 'our precious planet', Oppenheimer event urges

    This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability. To protect the "our precious planet", Africa must unite in its collaborative effort, align its efforts and share its strength with international players and partners, the 14th Oppenheimer Research Conference (ORC) heard in Midrand on Wednesday, October 15. Former mining luminary Nicky Oppenheimer emphasised the "very important role" of Africa, ahead of Zimbabwe Environmental, Climate and Wildlife Minister Dr Evelyn Ndlovu warning that the lack of environmental protection is "putting human security at risk". (Also watch attached Creamer Media video.) The world needs to do what it can to ease nature's path "and Africa has such an important role to play in that process," said Oppenheimer, the former head of Anglo American and De Beers. "The natural heritage we have is our greatest wealth," said Ndlovu. "Our conservation efforts are not merely about protecting animals or trees", but really about safeguarding the total fabric of our nations. "Our shared future depends on how boldly we act today to protect and restore our planet," ORC organiser and Oppenheimer Generations Research and Conservation head Dr Duncan MacFadyen highlighted at the packed event covered by Mining Weekly. "I believe we're a real heartbeat of conservation worldwide," said Oppenheimer, with the contribution of the annual conservation get-together growing ever more important amid inexorable global urbanisation. Reflecting on global nature finance gap, the event heard that the world is spending less than one third of what is needed to protect and restore the ecosystem. Emphasised is that all scientists and researchers need "desperately" to learn from each other and to teach each other and then to teach the world. Scientific data is helping the world to understand how ecosystems adopt and how communities can coexist with wildlife, forests, and wetlands on a warming planet. "Let us continue to bridge the divide between research and implementation, ensuring that every discovery fuels development and resilience of the ecosystem. "To my fellow policy makers, let us stand firm in our commitment to ensuring nature and climate stay on the highest political agendas. Africa holds many of the world's remaining natural frontiers and with this inheritance comes responsibilities. "Without adequate financing, conservation becomes a form of charity, rather than an investment. And progress will be fleeting if we don't become serious. "We must therefore strategically move precisely towards a sustainable, predictable and results-based financing, where natural capital is valued as a critical asset for development. "Investing in nature, in our wetlands, our forests and wildlife is not a cost. It is a catalyst for resilient economies and stable societies and I urge all parties, public and private, to recognize this investment opportunity and prioritise nature. "After all, over half of the global GDP is dependent on nature and its ecosystems," said Ndlovu. But while ORC was underway, it was communicated by Green Central Baking's Despatch publication that "climate denialism" is sharpening US economic risk and creating regulatory weaknesses. Just dismantled by US regulators are two climate risk committees at the Financial Stability Oversight Council, part of a sweeping trend to sideline climate finance experts, Ingrid Walker reported. Experts warn such ideological moves from the world's top economy is leaving it dangerously exposed, as climate shocks outstrip could even subprime mortgage risks on bank balance sheets, the publication stated. But climate risk doesn't play politics. Former Federal Reserve supervisor Kevin Stiroh warns that "a shock is a shock. Anything that can impact the real economy should be ... part of the risk monitoring and assessment process. Rese...

    5 min

  5. 5 DAYS AGO

    Digitalisation could re-orientate gold industry, World Gold Council highlights

    This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability. The value of gold as an asset has never been clearer, yet the gold industry finds itself at a fascinating crossroads, the World Gold Council reports. The advent of new technologies, including blockchain, decentralised finance and cryptocurrency is having a transformational effect on the financial markets that gold operates in, the council adds in a paper entitled 'A New Golden Age'. A new age of easily accessible, yield-bearing digital assets puts traditional assets under the spotlight, potentially disrupting their financial status. But at the same time, these innovations create previously unimaginable opportunities for gold to thrive as the ultimate physical and digital asset. The results could be game-changing for the gold industry, increasing trust in gold markets, and recreating the metal as a fungible and highly liquid digital asset capable of powering the financial markets of the future. "For the gold industry, simply digitalising current practices isn't enough," Simone Ferriani, Professor of Entrepreneurship and Innovation at Bayes Business School believes. The real breakthrough will come from redefining the boundaries of innovation, it is contended. Envisaged is how digitalisation could re-orientate the gold industry in the years ahead. With insight from a dozen leaders and innovators from within the gold industry and across the fields of finance, blockchain and real-world asset tokenisation, alongside specialists at The Future Laboratory, the potential future use cases for digital gold are explored. As is now uppermost of mind, the gold market, besides being large and global, is thriving, with the council estimating that physical gold holdings by investors and central banks are worth around $5.1-trillion. Gold's trading volumes averaged a record $329-billion a day during the first half of this year. In this sense, the gold market is more liquid than several major financial markets, including the Dow Jones Industrial Average, while trading volumes are on par with ten-year US Treasuries and exceed the most traded US equities. During the past half century, the price of gold in US dollars has increased by 8% on an annualised basis - a performance comparable with equities and higher than bonds. During the current period of economic instability, gold has also reinforced its credentials as a safe-haven asset and a great diversifier in mixed portfolios, with 49% of financial advisers agreeing this is a strength. In June, the European Central Bank revealed that gold had overtaken the euro to become the second-largest global reserve asset after the US dollar. Gold plays a crucial part in technology and healthcare products, while levels of recycling of gold make it one of the most circular assets in the world. "In general, just about every ounce of gold that has ever been mined is still being used. It's as close to 100% recycling as you can get, I think that's something to be proud of as an industry," Wheaton Precious Metals CEO Randy Smallwood points out. Yet, despite all of this, there are challenges facing the gold industry. The fact that gold is not considered to be a high-quality liquid asset or a financial instrument in many jurisdictions means it doesn't receive the same level of regulatory scrutiny as other investment products. Managing physical gold custody can also be complex because gold comes in a range of different sizes and purities. A perception prevails among some institutional investors and treasury departments that other assets are easier to manage. Moreover, unlike asset classes such as bonds and property, gold doesn't provide a regular income. This is cited by 54% of financial advisers, who say the fact that gold does not pay coupons or dividends hinders its investment potential. Now, digi...

    5 min

  6. 6 DAYS AGO

    Major opportunity for the diamond business to return to old strengths, says luminary

    Major opportunity for the diamond business to return to old strengths, says luminary This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability. Botswana is seeking a greater interest in De Beers, and Angola is seeking an interest too. To the mind of diamond luminary Martyn Charles Marriott, this could be an opportunity to return to old strengths and disciplines. In an article on the website of the International Diamond Manufacturers, Marriott cautions Botswana about going it alone and falling into the trap of yet again putting all its eggs into one basket. Marriott notes that the current deal Botswana has with De Beers is fantastic in that 80% of mine profits go to Botswana - a level that far surpasses anything in the mining industry anywhere in the world. Marriott expresses the view that the debate now under way about the future of De Beers presents an opportunity for a return to the discipline and control of the natural diamond market. Many recall that the economic viability of the diamond industry in the days when it had a stockpile and a quota approach, which kept supply and demand in crucial balance. In addition, large sums money were spent on the unforgettable Diamonds are Forever advertising campaign and the creation of the diamond engagement ring tradition that spread throughout the world. Collaboration is what gave diamonds their old strength; fragmentation is what has created their current weakness. Marriott recalls how collaboration led to flow of alluvial diamonds from West Africa being absorbed by the diamond buying offices that were created at source. In addition, Russia recognised the way in which the approach was of benefit to all on the supply chain from diamond miners to diamond cutters, traders, and consumers. As the then manager of the De Beers Dicor operation in Sierra Leone, it was Marriott who persuaded the government of that African country of the benefits and his departure from De Beers coincided with the discovery of diamonds in Botswana, where he played a diamond consultancy role from 1970 to 1983. Botswana was persuaded about the way in which the Central Selling Organisation system could help its economy "with the caveat that the diamonds had to be properly sorted and valued". The production level at Orapa also had to be increased to the level that helped Botswana secure a favourable quota. It was also Marriott who initially proposed that the future development of the mines in Botswana should be by an equally shared 50/50 company. For more than a dozen years, Marriott was a member of Botswana's negotiating team with De Beers that secured the very high level of profits that would accrue to the Botswana government from the development of its diamond mines. During the development of the Jwaneng mine by the then joint company, he was asked to co-ordinate Botswana's inputs into the project. Interestingly, in 1980, even the Australians were also persuaded about the merits of the Central Selling Organisation for the Argyle mine. "From 1985 through to the end of the century I was heavily involved in the restoration of the Angolan diamond industry as consultant and valuer to Endiama," Marriott recalls in the article in the latest International Diamond Manufacturers publication. "In this instance, as the production there was then small, I advocated sales by tender initially, and we built up a successful sales procedure from there, which was eventually undermined by corruption." He also played an active part in the establishment of the Kimberley Process. "Unfortunately, in 1986 things in the diamond world began to fall apart. Argyle and De Beers ceased their co-operation. The Russians became more and more independent and this was followed by the Canadian mines marketing their production separately." The Central Selling Organisation was no longer in...

    5 min

  7. 10 OCT

    European Union elevates South Africa's R105bn green hydrogen project to new high

    This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability. European Commission President Ursula von der Leyen elevated South Africa's R105-billion Nelson Mandela Bay green-hydrogen-to-green ammonia project to a new high when she singled it out for special mention in announcing a massive rise in funding for the South Africa-European Union Just Energy Transition Partnership. The new nigh-€12-billion package is a streak ahead of the €4.7-billion Global Gateway figure, which was celebrated at the EU-SA Summit in Cape Town in March. The EU, which is working hand-in-hand with to Global Citizen, also used the Brussels event to announce a big new €618-million Team Europe package to support power grid modernisation for renewable electrification. In March, South Africa's world-leading platinum group metals (PGMs) endowment received a major boost when Von der Leyen pointed out that South Africa hosts raw materials that are critical for electrolysers, including 91% of the world's PGM reserves, and you have a rising industry to produce clean hydrogen and strong export ambitions." Now, seven months later, Von der Leyen expressed delight at the huge step up of funding by EU member states for South Africa's Just Energy Transition. "We can now take almost €12-billion to our Just Energy Transition Partnership," she said turning to South Africa President Cyril Ramaphosa, "and we can support our ambition to become a true global leader in clean energy. "We need the member states, we need our partners, and we also need the private sector, the business community to come in with the knowledge and the global capabilities, and I'm thinking here, for example, of the Coega Green Ammonia project in Nelson Mandela Bay. "With it, South Africa is on its way to becoming a global shipping hub as green ammonia becomes a clean maritime fuel of choice, and with this investment comes an enormous opportunity. This is unfolding for South Africa. This green ammonia story is just one of many success stories that we have and now with the new investment, we have the means to write many more success stories," Von der Leyen pointed out. Hive Hydrogen South Africa is the developer of the green fuel project being developed in the Eastern Cape and present to hear Von der Leyen's laudatory comments first-hand was Hive Hydrogen chairperson Thulani Gcabashe, a former Eskom CEO, whose Built Africa Group focuses on developing renewables projects in South Africa under the Renewable Energy Independent Power Producer Procurement Programme. Directing her comments toRamaphosa, Von der Leyen added: "Dear Cyril, my friend, it's wonderful to see you again now in Brussels, so soon after New York, at the United Nations General Assembly, because today we truly have good news to share." (Also watch attached Creamer Media video.) "In March, we made a strong call to invest in renewables, both in and with South Africa, because the logic is that there are natural resources in abundance in South Africa, which also has the skills, and the business case is clear. "Important to note is that South Africa is not only transforming itself but it's becoming a clean energy pioneer for the entire continent of Africa," Von der Leyen reported while drawing attention to the scaling-up continental renewables campaign initiated by Global Citizen against the background of 600-million people in Africa still have no access to electricity. Partnering with international advocacy organisation Global Citizen and being backed by the International Energy Agency is Global Gateway, which will culminate with a major pledging event at the upcoming G20 Summit in Johannesburg in November. The Global Gateway campaign focuses on connectivity infrastructure - both physical and digital - and on uplifting the local pharmaceutical industry. "The campaign is now entering...

    10 min

  8. 10 OCT

    Martin Creamer talks about Anglo backs SA juniors, mining transformation and Glencore's green deal

    Mining Weekly Editor Martin Creamer discusses Anglo American's commitment to invest R600-million in South Africa’s junior exploration fund as part of the Anglo Teck deal; mining growth and transformation going hand in hand; and the 20-year renewables deal that Discovery Green and

    5 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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