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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. hace 52 min

    Incoming Northern Star CEO flags possibility of asset sales

    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 Northern Star Resources on Wednesday flagged the potential for asset sales as the miner focuses on delivering its turnaround plan under a new CEO, amid pressure from both activist investor Elliott and suitor Gold Fields. Northern Star reported a 7.2% rise in first-quarter revenue from gold sales, helped by higher average gold sale prices that offset lower volumes from planned shutdowns, but missed market expectations. It, however, kept its full-year guidance intact. The result was the first time CEO Suresh Vadnagra faced investors since he took the helm of Australia's biggest gold miner on October 5. Vadnagra said his first focus was to deliver against company projections as processing at its Kalgoorlie operations ramps up, and flagged that he would assess the company's assets for value including for potential sales. The focus on delivery comes after Elliott in June called for a review and new leadership, citing repeated "operational missteps", including seven outlook misses in four years, and a share price that vastly underperformed its peers. Asked by an analyst on a results call about whether management saw potential value from asset divestment, Vadnagra said: "It's clear that there's an active process by the site team and the planning team to look at each (of our) assets and assess ... the way we're operating those assets, and is there a way for us to unlock further value or improve the resilience?" "Obviously, I'd like to apply my own lens to it as well with time, and it's an area that's high on the agenda." He declined to comment on the A$38.7-billion ($27.16-billion) takeover offer by South Africa's Gold Fields that the miner rejected. Northern Star's management has previously said that the offer was opportunistic. Gold Fields' CEO last week played down market speculation that it would raise its offer for Northern Star. Four Western Australian assets identified by Barrenjoey for potential sale include Jundee, Thunderbox, Carosue Dam, and some of its Kalgoorlie operations. HIGHER PRICES OFFSET LOWER VOLUMES Bullion traded higher during the September quarter, as central bank buying and geopolitical uncertainty helped the gold miner report a higher average realised gold price of A$4 999/oz, compared with A$4 452/oz a year earlier. This made up for the lower volumes owing to planned major shutdowns that hit its three production centres. The miner said quarterly gold sold totaled 364 000 oz, compared with 381 100 oz from a year before. Revenue from gold sales came in at A$1.82-billion for the quarter ended September 30, compared with A$1.70-billion a year earlier. That missed the Visible Alpha consensus estimate of A$1.93-billion.

  2. hace 1 h

    Namibia tin producer's gross profit up fourfold on 80% revenue surge

    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. Namibia tin producer Andrada Mining on Wednesday, October 21, reported a quadrupled-plus gross profit and an 80% revenue surge. Supporting this high performance in the six months ended August 31 was a 13% increase in tin production and an effective 57% tin price increase to $52 131/t. Revenue of this London Aim-listed Namibia-focused company rose to £20.6-million and gross profit to £8.3-million-plus, with the margin increasing to 40.3%. Compared with a £3-million loss in the comparative period, an after-tax profit of £2.5-million was recorded, with earnings before interest, taxes, depreciation and amortisation increasing to £4.5-million. The £4.9-million cash generated from operations in the half-year exceeded financial year 2026's full-year cash generation of £4.7-million, with period-end cash reaching £15.6-million. "These results mark a significant turning point for Andrada, with strong operational performance at Uis translating into a step-change in profitability and cash generation." Andrada CEO Anthony Viljoen pointed out in a media release to Mining Weekly. The site of the opencast hard rock polymetallic Uis tin mine in Namibia's Erongo region, also hosts lithium and tantalum. "We enter the second half of the financial year from a considerably stronger position with a critical minerals platform of three assets or value creators. "We have demonstrated the earnings and cash-generation potential of the business. The priority now is to convert our funded investment programme and strategic partnerships into higher production, measurable project progress and sustainable shareholder value," Viljoen stated in a release to Mining Weekly. The latest high performance has been achieved ahead of its next phase of production increase from fully funded plant upgrades that include the on-schedule ore-sorting circuit installation at Uis. At the same time, two growth opportunities across tin, lithium, tungsten, copper and tantalum are being advanced by Andrada's partnerships with SQM at Lithium Ridge and BWCAM at Brandberg West. The Lithium Ridge project is being advanced under a strategic earn-in partnership with SQM International, the lithium-producing subsidiary of Chilean mining company SQM, while Brandberg West is a tin and tungsten asset being developed in partnership with BWCAM, an affiliate of the private investment firm ACAM LP that entered into a funding agreement with Andrada to develop the Brandberg West copper/tungsten/tin project. "Together with our renewed board, this gives Andrada a clear platform to execute on growth across all three assets," Viljoen explained.

  3. hace 19 h

    DRDGOLD production up 10%, operating profit up 42%, free cash inflow R725m

    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 tailings mining company DRDGOLD has reported a strong start to its 2027 financial year (FY27), with higher gold production, improved yields and stronger operating profit for the quarter ended September 30. Gold production increased despite a 5% reduction in tonnage throughput to 6.2-million tonnes. Revenue increased by 31%, supported by a 14% increase in gold sold and a 14% improvement in the average rand gold price received. "We've had a good start to the financial year, with higher gold production and with the gold price still working in our favour, allowing us to continue to invest in the future of the business," DRDGOLD CEO Niël Pretorius stated in a release to Mining Weekly. DRDGOLD's Vision 2028 capital programme continued to advance, with major infrastructure projects approaching key delivery milestones. Growth capital expenditure decreased by 29% to R555.7-million as certain Vision 2028 projects progressed towards completion, while all-in costs declined by 10% to R1 562 538/kg. By quarter-end, construction of the Regional Tailings Storage Facility at Far West Gold Recoveries (FWGR) was 77% complete, with 99% of the work required for beneficial occupation completed. The timing of occupation remains subject to regulatory approvals and favourable weather conditions. The DP2 Plant expansion to double the monthly plant throughput to 1.2-million tonnes a month, is substantially complete, with commissioning scheduled for October 2026. Construction of the Libanon reclamation station began in September, while Ergo's Daggafontein Tailings Storage Facility was commissioned in July. Group cash operating costs increased by 12% quarter-on-quarter to R1.3-billion, mainly owing to higher reagent and diesel costs, the purchase and processing of higher-grade third-party material and increased labour and other costs at FWGR ahead of commissioning the DP2 Plant expansion and the elution and smelthouse facility. DRDGOLD generated free cash inflow of R725.8-million during the quarter and ended September 2026 with cash and cash equivalents of R2.5-billion, after paying a final dividend of R1-billion for FY26. The JSE–, A2X– and NYSE-listed DRDGOLD remained free of bank debt with the company's strong cash position allowing it to continue to fund its capital programme without taking on debt. The group is also favourably positioned to consider an interim dividend in February next year. DRDGOLD remains on track to achieve its FY27 production guidance of 160 000 oz to 170 000 oz of gold, with cash operating costs expected to remain within guidance of about R1 099 000/kg and all-in sustaining costs at about R1 230 000/kg.

  4. hace 1 día

    Copper mines need $332bn new investment to ease shortfall

    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. Copper mines need about $332-billion of new investment to avert a future supply shock, according to Bloomberg New Energy Finance estimates. Without significant capital outlays, the copper market faces a projected supply shortfall of 20-million metric tons by 2050, and is at risk of a painful squeeze that will slow the shift toward electrification, according to a report released Tuesday. The market is expected to slip into deficit by 2028 as demand rises and producers struggle to replace declining output, BNEF analysts said. The shift away from fossil fuels and toward electrifying everything from cars to data centers has made copper by far the most supply-constrained metal covered in BloombergNEF's Transition Metals Outlook report. Demand linked to electrification is projected to spike 89% to 23.3-million tons in 2050, accounting for more than half of total copper consumption. "Electrified transport is the fastest-growing copper application," the analysts wrote. "Electric cars, trucks and buses, whose adoption skyrockets over 2026-2050, require copper in motors, inverters, battery packs, high-voltage wiring and charging." The red metal will also continue to be in demand for construction, industrial production and consumer products, while data centers are just "a drop in the ocean for copper demand." Enough copper may exist underground, but new and expanded mines are not coming online fast enough to offset declining output from existing operations. Without additional investment, total supply could fall 14.5% to 25.7-million tons by 2050, from 30-million tons in 2026. Falling ore grades will raise production costs, while recycling won't be enough to offset lower primary output. Even if the required $332-billion is invested in new mines, the gap is likely to remain open until at least 2043 because a new copper mine takes an average of 17 years to develop. Chile is expected to remain the largest primary producer, although its output is forecast to fall to 4.8-million tons in 2050, from 5.8-million tons in 2026, BNEF estimates. The nation's share of mined supply would nevertheless rise to 28% from 24% as production declines more rapidly elsewhere.

  5. hace 1 día

    Sale of South African aluminium assets to Alcoa of US on track, South32 reports

    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 sale of South Africa's aluminium value chain assets to Alcoa Corporation of the US remains on track for completion in the June 2027 half-year, Johannesburg-, Sydney- and London-listed South32 reported in its September quarterly on Monday, October 19. In the three months to September 30, aluminium production was largely unchanged as South Africa's Hillside Aluminium in KwaZulu-Natal continued to test nameplate capacity with a quarterly output of 179 000 t. South32's Brazil Aluminium is in ramp-up and as reported in March, South32's Mozal Aluminium is on care and maintenance. As a global producer of materials across the aluminium value chain – taking in mining, refining and producing bauxite, alumina, and aluminium – Alcoa of Pennsylvania was on July 1 described by South32 COO Africa Noel Pillay as being well positioned to operate South Africa's Hillside Aluminium business into the future. This followed the signing by South32 of a binding conditional agreement to sell Hillside to the New York-listed Alcoa for up to $5.6-billion. In addition to the Hillside aluminium smelter and South Africa's idled Bayside smelter, Alcoa, headed by president and CEO William (Bill) F Oplinger, will also acquire South32's interests in Boddington bauxite mine and the Worsley alumina refinery in Australia, as well as the Mineração Rio do Nortebauxite mine and the Alumar alumina refinery and aluminium smelter in Brazil. Meanwhile, on the manganese front, South Africa's manganese output for the quarter was 528 000 wet metric tonnes following South Africa Manganese lifting underground productivity at the Wessels mine in South Africa's manganese-rich Kalahari basin, which is home to 80% of the world's manganese. South32's South Africa Manganese is made up of two manganese mines, the opencast Mamatwan mine, which started operating more than half a century ago, and the underground Wessels mine, which followed a few years later. Wessels has vertical and incline shafts and uses the mechanised bord-and-pillar mining method, while Mamatwan applies the terrace mining method. The two form part of Hotazel Manganese Mines. New South32 CEO Matt Daley spoke of achieving key development milestones for the company's copper and zinc growth projects. Sierra Gorda, the opencast copper mine in the Antofagasta region of northern Chile, increased payable copper equivalent production by 11% on higher planned copper grades and paid a record quarterly distribution of $153-million. A fourth grinding line project at Sierra Gorda is expected to increase processing capacity by 25% and further increase the exposure to copper. At Hermosa, in the Patagonia Mountains south-east of Tucson, Arizona, South32 continued construction of underground and surface infrastructure for the Taylor zinc/lead/silver project and completed the federal permitting process. Hermosa also has the zinc-/manganese/silver Clark oxide deposit, the copper/lead/zinc/silver Peake exploration target and the Flux prospect. Hermosa provides the opportunity to leverage the underground mining and processing methods South32 has used at its Cannington operation in Queensland, Australia. Net cash increased by $14-million to $297-million in the quarter and financial year 2027 production guidance remains unchanged, South32 stated in its release to Mining Weekly.

  6. hace 2 días

    Fortescue demonstrates effectiveness of world's first arsenic removal tech for 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. Iron-ore major Fortescue has sold more than 40 t of copper concentrate cleaned using its new world-first arsenic removal technology, creating a solution for a complex problem facing the global copper industry. The patented Toowong Process uses a low-temperature, low-pressure hydrometallurgical method to separate arsenic from copper concentrate. Fortescue acquired the technology in 2022 and has been developing and testing it over the last four years at its Brisbane demonstration plant. Across seven campaigns and more than 3 000 hours, the Toowong Process reduced arsenic levels in concentrates to below 0.3%, while also retaining more than 99.9% of the copper. Arsenic has been a major barrier to unlocking new copper resources globally and its removal from copper ores has conventionally relied on roasting, an incredibly energy-intensive process. Roasting generates significant emissions, requires complex infrastructure and produces toxic water-soluble arsenic bearing gas and dust emissions that need to be controlled. The Toowong Process is proving to be an economic alternative, with comparable capital and operating costs, improved output and reduced energy consumption and emissions. The first 40 t of cleaned copper concentrate produced from Fortescue's Brisbane site contained less than 0.25% arsenic, reduced from feedstocks containing up to 7% of the contaminant. This product has now been sold, demonstrating that the Toowong Process can produce marketable, commercially competitive copper concentrate from high-arsenic feedstocks. "Technology and innovation are central to Fortescue's future growth. We look for problems others see as barriers and work out how to solve them. "In the early days of iron-ore, Fortescue challenged the assumption that lower-grade deposits could not be developed competitively. The Toowong Process brings that same mindset to copper," says Fortescue growth and energy CEO Gus Pichot. He adds that this technology has the potential to make high-arsenic deposits more economically viable, addressing major processing challenges and eliminating emissions at the same time. "The world needs more copper to build renewable-energy projects and expand electricity networks and Fortescue's innovations will be key to unlocking the resources that can meet that demand," Pichot states, adding that the company will use this technology as it explores more copper deposits globally and make it available for its peers. Global copper demand is forecast to grow more than 50% by 2050, reaching at least 50-million tonnes a year. Existing clean ore bodies are being depleted to meet that demand, forcing copper producers to explore and develop more complex deposits that can contain higher levels of impurities, including arsenic. Until now, arsenic has made some copper concentrates unmarketable, with smelters unwilling to accept product or imposing costly penalties that reduce value. High arsenic levels can also constrain mine plans if material must be blended, treated or excluded. The Toowong Process has the potential to improve the saleability of copper concentrate - removing arsenic turns otherwise unmarketable concentrate into a product that can be sold. It also allows producers to optimise mine inventories, lower development costs, improve life-of-asset production and reduce environmental impacts. Pichot explains that compared with roasting, the Toowong process uses less energy, generates lower emissions and captures arsenic in a stable, solid product. Fortescue continues, meanwhile, to optimise the Toowong Process and advance its commercial engineering, with a focus on further reducing capital and operating costs. This includes testing concentrate produced from Fortescue's Cañariaco copper project in P...

  7. hace 2 días

    $40m for Prieska Copper Zinc Mine development in South Africa's Northern Cape

    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 first copper and zinc production from Uppers at the reviving Prieska Copper Zinc Mine in South Africa's well-endowed Northern Cape is targeted for the end of next year, Orion Minerals reported on Monday, October 19, following the way for this being cleared by financing and offtake agreement finalisation. The $40-million tranche A financing from Glencore is now unconditional and gthe first drawdown is expected by the end of this month, enabling key development contracts, site mobilisation and construction activities to progress. Tranche B financing of $210-million remains conditional, with Orion continuing discussions with funding partners to secure the remaining financial required for the development of the Deeps Mine, also at Prieska. Prieska's first phase will target early production from the shallower, higher-grade Uppers, with dewatering of historical underground workings progressing in parallel and the second phase the more extensive Deeps resource, as dewatering, shaft rehabilitation and infrastructure provision are completed. Exploration will continue alongside development. Five extension targets have been identified at depth and are planned to be evaluated through underground drilling as access improves, providing further potential to expand the resource base and extend mine life. Over the past year, work at Prieska has been focused on operational readiness, detailed engineering and transitioning the project from planning to executable work packages. Torque Africa has been appointed to carry out the drilling programme, which is structured to support geotechnical and final mine design definition ahead of mining, while Enprotec has been selected to deliver the 20 000 t/m Uppers concentrator under a build-own-operate-transfer arrangement. Also enabled by Tranche A funding is a start being made on the construction of an accommodation village. Orion will continue to engage with existing and new funding partners to secure the remaining project financing required to proceed with development of the Deeps In parallel with commencing mobilisation of construction crews and equipment to site. While finalising these agreements has been a lengthy and detailed process, our project and operations teams have used this time productively to advance engineering, finalise development plans, select key contractors and establish the systems and processes required for disciplined project execution. "This puts us in a strong position to commence development activities, with a strong focus on safety, operational readiness, cost control and project governance. "The world continues to require ever increasing volumes of new copper and zinc production to meet crucial energy transition goals and we look forward to bringing this important South African resource into production and delivering long-term benefits for our shareholders, employees and local communities," Orion CEO Tony Lennox stated in a release to Mining Weekly. "We are pleased to assist Orion with financing for it to bring Prieska back to life and become South Africa's next copper producer," Glencore's Toby Spittle added. The Prieska Copper Zinc Mine, located near Copperton, is on a volcanogenic massive sulphide deposit, which between 1971 and 1991 produced 430 000 t of copper and a million tons of zinc when previously operated by South Africa's now defunct Anglovaal. In addition to the Prieska Copper Zinc Mine, the Johannesburg- and Sydney-listed Orion is Orion's progressing Okiep Copper Project, which also has a premier historical copper record in a district that produced more than two-million tons of copper over 150 years. At Okiep, drilling results have confirmed ongoing high-grade Flat Mine East copper mineralisation, with intercepts of 7.88 m a...

  8. hace 4 días

    Martin Creamer talks about Anglo American, high fuel price and decreasing mining production

    Mining Weekly Editor Martin Creamer says Anglo American still sees huge opportunity in South Africa; he discusses Mineral Resources and Petroleum Minister Gwede Matashe wanting South Africans to rally to confront the high fuel price; and he unpacks the decrease of mining producti

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