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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 6 h

    Barrick's copper mill construction in Zambia nearing completion

    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 on-schedule construction of a copper mill in Zambia by Barrick Mining as part of the Lumwana expansion project is heading for completion in the fourth quarter (Q4) of this year, the New York and Toronto-listed gold and copper producing Barrick reported on Monday, November 9. Since inception, $795-million capital has been spent to date with total expected project capital remaining on target at $2-billion. First copper is expected at the end of the first quarter of 2028 with the expansion project doubling production to 240 000 tons a year (t/y) from the current 117 000 t/y. All major long-lead equipment has been procured, and the mill shells and trunnions, primary crusher, and tailings thickener are already on site. The primary crusher's third level is nearly complete, work on the tailings storage facility is expected to commence in Q4 2026, and the last mill wall lifts are expected to be completed in in the same quarter. Lumwana's life of mine at the expanded production levels is 30 years. In the three months to September 30, Barrick produced 50 000 t of copper, which with the 816 000 oz of gold generated $5.07-billion in revenue, $2.49-billion in operating cash flow, $1.80-billion in attributable operating cash flow, and $0.64-billion in attributable free cash flow. Net earnings per share for the quarter were a 5%-higher $0.80, and adjusted net earnings per share were a 41%-higher $0.82 compared with Q3 2025. "We remain on track to achieve our full-year production guidance," Barrick president and CEO Mark Hill stated in a release to Mining Weekly. Barrick continues to expect 2026 gold production to be 2.90-million ounces to 3.25-million ounces and copper production remains unchanged at 190 000 t to 220 000 t. Guidance is based on an oil price assumption of $70 per barrel. For every $10 per barrel change in the oil price, the direct impact on costs associated with diesel consumption is about $12/oz across Barrick's gold operations, and $0.04/lb across its copper operations. Total attributable capital expenditure was reduced from $3.8-billion to $4.2-billion on lower anticipated spending at the Reko Diq project, one of the largest undeveloped copper-gold projects in the world. Barrick owns 50% of Reko Diq and three federal state-owned enterprises own 25%. Of the remaining 25% owned by government of Balochistan, 15% is on a fully funded basis and 10% on a free carried basis. THIRD-QUARTER COSTS Gold's cost of sales for Q3 2026 was $1 950/oz, up from the $1 562/oz for the corresponding period of last year, primarily reflecting lower grades processed, higher royalties associated with increased realised gold prices, and elevated diesel prices. Total cash costs increased to $1 386/oz from $1 137/oz and all-in sustaining costs (AISC) increased to $1 911/oz from $1 538/oz primarily reflecting the same cost pressures, as well as higher sustaining capital expenditures. Copper's cost of sales rose to $3.65/lb, C1 cash costs to $2.76/lb and AISC to $4.52/lb on higher diesel prices, and local currency appreciation, particularly in labour costs. Third-quarter net earnings of $1.32-billion compared with $1.30-billion last year while adjusted net earnings were $1.35-billion compared with $0.98-billion. Revenue increased 22% year-on-year to $5.07-billion, earnings before interest tax depreciation and amortisation (Ebitda) increased 13% to $3.22-billion, and attributable adjusted Ebitda 22% to $2.47-billion. Operating cash flow totaled $2.49-billion and attributable free cash flow was $0.64-billion.

  2. hace 9 h

    Nickel market poised to reach $80bn in value by 2031

    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 nickel market is poised to expand to $80.68-billion by 2031 compared with $57.59-billion in 2026, which is an estimated compound annual growth rate (CAGR) of 7% over the period, finds consultancy MarketsandMarkets in its global nickel market forecast to 2031 report. The firm says global nickel market growth is being driven by increasing demand for stainless steel, nickel-based alloys, electric vehicle (EV) batteries and other industrial applications. Asia Pacific accounted for 85.7% of the nickel market in 2025, which is supported by large-scale stainless steel production, expanding industrial activity, strong nickel refining capabilities and investments in battery manufacturing in China, Indonesia, Japan, South Korea and India. Indonesia's expanding nickel mining and smelting, coupled with China strong stainless steel manufacturing base, in particular, strengthens the region's market position. In Europe, the nickel market is supported by demand for stainless steel and specialty alloys, investments in EV battery manufacturing and efforts to strengthen local battery-material supply chains. MarketsandMarkets further finds that North America is experiencing nickel market growth owing to investments in EV batteries, demand for high-performance alloys in aerospace and energy applications, and initiatives to strengthen critical mineral supply chains. Meanwhile, South America benefits from nickel resources and mining activities, particularly in Brazil, alongside investments in mineral extraction and processing. The Middle East and Africa region is supported by nickel mining and processing activities, particularly in countries such as South Africa and Madagascar, as well as investments in mineral development and industrial infrastructure. MarketsandMarkets says regional market growth will continue to depend on stainless steel demand, battery chemistry trends, nickel prices, and the expansion of mining and refining capacity. By form, the nickel sulphate market, or battery-grade market, is estimated to grow at a CAGR of 11.5% between 2026 and 2031. This segment is supported by increasing demand for high-purity nickel compounds used in lithium-ion battery cathode manufacturing. MarketsandMarkets says growing EV production, expanding battery manufacturing capacity and increasing demand for nickel-rich cathode chemistries such as nickel-manganese-cobalt or nickel-cobalt-aluminium are contributing to nickel sulphate market growth. By application, the rechargeable battery cathodes segment is anticipated to record a CAGR of 13.7% over the period, driven by increasing demand for nickel-containing cathode materials used in EV batteries and select energy storage applications. However, the growing adoption of lithium-iron-phosphate batteries, which do not contain nickel, may moderate nickel demand growth in certain EV segments. The automotive and e-mobility industry itself is anticipated to grow by 11.6% over the period. INVESTMENT FLOWS MarketsandMarkets finds that major nickel producers are investing in capacity expansion, high-pressure acid leach projects and nickel sulphate production to serve stainless steel manufacturers and battery supply chains. Indonesia, for one, is attracting substantial investment in its nickel mining and downstream processing, while North America and Europe are focused on supply chain diversification, battery material production and recycling. Investments are also directed toward improving processing efficiency, recovering nickel from end-of-life batteries, and reducing the environmental footprint of production. These developments are supporting investment across the nickel value chain, although project economics remain sensitive to nickel prices, capital intensity, permitting re...

  3. hace 3 días

    AngloGold targeting organic growth of 400 000 oz/y-plus by end 2029

    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. By optimising existing operations and leveraging established infrastructure, gold mining company AngloGold Ashanti is targeting the addition of more than 400 000 oz of annual gold production by the end of 2029. The Johannesburg Stock Exchange-listed AngloGold is expecting an additional 130 000 oz from Obuasi in Ghana as this gold mine ramps up, 100 000 oz from Siguiri in Guinea, 100 000 oz from Geita in Tanzania, and 75 000 oz from Cuiabá in Brazil. At Obuasi, AngloGold is continuing to look for ways to derisk this asset by building operational flexibility and consistency. The targeted 130 000 oz/y production growth on top of last year's base of 260 000 oz will take output to 400 000 oz/y. A structural challenge being tackled includes the elimination of historical single point bottlenecks amid blocks eight and ten currently being accessed from one decline. With the KMS shaft not working, there is only one way out. In October 30 000 oz of ore was mined but lack of flexibility is an issue. "We'll expand this in 2029 to four distinct areas of operation. This decongestion is critical for securing unimpeded ore delivery to the surface as we run towards our 400 000 oz target," AngloGold CEO Alberto Calderon explained during this week's presentation of results covered by Mining Weekly. To ensure the mill stays fed even if underground constraints arise, alternative ore resources are being established. A nearby openpit that has been identified that would provide about 25 000 oz in 2027 and the plan is to go to 50 000 oz around 2028. Also, the shallower, higher-grade Cote d'Or mining area is being evaluated to establish safe access to additional mining areas through another decline by the first half of 2029. This provides flexibility while the main underground ramps up, and we're also advancing the deep decline on track to reach higher Block 11 next year. The KMS shaft was built fundamentally for Block 11, which will almost exclusively be operated through KMS. Optimising the development sequences and gaining early access through the KMS shaft will be a margin catalyst for the asset, bringing in ore at about 50% higher grade than the average underground mine reserve grade. SIGUIRI TIER 1 POTENTIAL At Siguiri, the objective is to unlock Tier 1 potential by developing additional full-grade ore sources to directly displace current marginal stockpile feed. Total estimated capital expenditure (capex) of around $70-million is expected to fund the planned 100 000 oz/y production growth. "This growth is driven by two near-pit developments. First is Block 3, which sits roughly 50 km from Block 1, with the haul road and infrastructure construction nearing completion, mining expected to start by around year-end, and first gold targeted in the first half of next year," Calderon reported. Block 3 is projected to add 40 000 oz/y to 50 000 oz/y over the next five years. Operationally, this allows Block 3 to be fed at an average grade of 1.22 g/t, replacing 0.55 g/t material in the plant feed. Also, land agreements are being finalised to secure land packages and complete site preparation to ramp up mining from the satellite deposit in Block 1. Mining is expected to commence and the targeted date for first gold from the satellite deposit is late next year. This will provide an even higher-grade feed at 1.64 g/t, further displacing the low grade ore sources. To support medium-term growth, a prefeasibility study will begin next year to increase Siguiri's hard rock treatment capacity. This will provide the processing capacity needed to handle harder, fresh rock over the longer term to deconstrain the mining schedule for additional full-grade ore. This year's total reaffirmed gold production guidance is 2 800 000 oz to 3 170...

  4. hace 3 días

    Martin Creamer talks about: Exploration investments, carbon offsets and mine hydropower

    Mining Weekly Editor Martin Creamer says there is a call for South Africa to attract capital investment into exploration; he discusses the benefits of carbon offsets for mining competitiveness and rural development; and the benefits of mine hydropower.

  5. hace 3 días

    Resolution Copper Mining approves $144m investment in Arizona project

    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. Resolution Copper Mining, a joint venture between Australia-headquartered miners Rio Tinto and BHP, has approved a $144-million investment in the next phase of development at the Resolution Copper project, in Arizona, in the US – one of the world's largest untapped copper deposits and a potential major new source of domestically produced copper for the US. The investment builds on the completion of the historic land exchange in March, which unlocked the project's next phase. It is additional to about $500-million of preliminary spending announced at that time. The latest investment will fund feasibility studies and final design engineering for the installation of development and production-level materials handling equipment in both shafts and new water treatment facilities. It will also support ongoing exploration drilling, the purchase of underground development and production equipment as well as long-lead electrical equipment. Rio Tinto explains that 50 additional roles will be created across mining, geotechnical and geological disciplines, engineering and project services. "Resolution Copper has the potential to supply up to 25% of America's copper demand for decades, strengthen domestic supply chains and deliver significant economic benefits for Arizona. "Following completion of the historic land exchange in March, this investment is another important step in advancing the project. These funds will accelerate underground development, create additional skilled roles and ensure Resolution Copper is well positioned for its next investment decision, while maintaining safe underground operations and construction," says Rio Tinto Copper CE Katie Jackson. Rio Tinto says Resolution Copper has the potential to become one of the largest copper mines in the US, create thousands of direct and indirect jobs and contribute about $1-billion a year to Arizona's economy. "This investment builds on the momentum created by the historic land exchange and marks another important step towards unlocking Resolution Copper's potential. "We are moving forward with urgency and discipline. This programme will accelerate underground development and our path towards first copper production while maintaining safe underground operations and construction, positioning the project strongly for its next investment decision," comments Resolution Copper Mining president Vicky Peacey. Rio Tinto, which holds a 55% interest in Resolution Copper Mining, will contribute about $79-million of the $144-million investment.

  6. hace 3 días

    AngloGold full-year guidance reaffirmed, strong fourth quarter under way

    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. AngloGold Ashanti CEO Alberto Calderon reported on Thursday, November 5, that the Johannesburg Stock Exchange-listed company is well positioned to deliver a strong final quarter to achieve full-year gold production targets while advancing the company's long-term, high-margin project pipeline. Full-year gold production guidance of 2 800 000 oz to 3 170 000 oz is reaffirmed. Production for the first nine months hit the 2 164 000 oz mark. Third-quarter (Q3) gold production of 696 000 oz reflected anticipated grade sequencing across key openpits and short-term operating challenges that have since normalised. Five assets expanded production year-on-year compared with Q3 2025, led by Siguiri (+49%), Sunrise Dam (+6%), Kibali (+6%), Cuiabá (+4%), and Cerro Vanguardia (+2%). Year-on-year production decreases were recorded at Tropicana (-15%), Iduapriem (-43%), Obuasi (-26%), Sukari (-21%), and Geita (-4%) in Q3 2026. This year's lower $722-million third-quarter free cash flow, down from the $920-million in the third quarter of last year, was impacted mainly by lower ounces sold as well as: • a 45% increase in total capital expenditure (capex) to $497-million funding critical waste stripping campaigns, fleet upgrades, and the continued advancement of the North Bullfrog and Arthur Gold projects in Nevada. • net cash taxes paid increasing to $174-million in Q3 2026, from $75-million in Q3 2025. • working capital absorption mainly from lower payables and higher receivables, and higher operating costs. The group ended Q3 2026 in a net cash position of $1 256-million, with overall liquidity of around $4.5-billion, providing headroom to fund organic growth. Through a planned period of intensive reinvestment in growth and mine life extension projects, AngloGold lifted net cash to $1.26-billion and supported an interim Q3 dividend of $361-million. Dewatering at Iduapriem following flooding from a neighbouring mine earlier this year has restored full access to high-grade mining blocks, opencast waste-stripping at Sukari is unlocking higher-grade ore and underground stopes at Obuasi are returning to their operational ramp-up following a fatality earlier this year. Brownfield expansions targeted at Geita, Siguiri, and Cuiabá, as well as the ongoing ramp-up at Obuasi are designed to leverage existing infrastructure and operational footprints to reduce execution risk and optimise capital intensity. Total forecast capex for the growth projects at Geita, Siguiri and Cuiabá is estimated at $750-million to $900-million over a three-year period, which is projected to provide incremental production from a 2025 base of 300 000 oz to 450 000 oz by the end of the decade. At steady state, these projects are expected to maintain or improve real operational costs. In Nevada, the Arthur Gold project feasibility study and North Bullfrog permitting activities are advancing on schedule, with the aim to establish the company's next Tier 1 production centre. On November 3, the board approved funding for the execution phase of the North Bullfrog project, subject to receipt of federal and state-level permits. Total third-quarter cash costs per ounce were $1 534/oz, versus $1 480/oz in Q2 2026 and $1 225/oz in Q3 2025. All-in sustaining costs per ounce in Q3 were $2 170/oz from $1 720/oz in Q3 2025, with most of the increase stemming from exogenous market-related factors. This performance also reflects planned annual sustaining capex and volume-sensitive fixed cost absorption during the lowest-production quarter of the year, the company stated. Exogenous, market-driven factors accounted for $189/oz (61%) of the year-on-year increase in total cash costs per ounce in Q3 2026, and $201/oz (83%) of the year-on-year increase across the firs...

  7. hace 4 días

    Freeport approves $4.5bn expansion, modernisation of Arizona copper project

    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. Metals company Freeport McMoRan's board has approved a $4.5-billion expansion and modernisation programme for its Bagdad copper and molybdenum operation, in north-west Arizona, in the US. "We are pleased to proceed with the Bagdad expansion, an important step in advancing Freeport's US copper growth strategy. This low-risk brownfield project builds on Bagdad's substantial reserve base, long operating history, existing infrastructure and experienced workforce to deliver new US copper and molybdenum production and further strengthen Freeport's position as 'America's copper champion'," comments Freeport president and CEO Kathleen Quirk. The metals miner points out that the expansion project is expected to more than double the Bagdad operation's mining and milling rates and position the mine as the second-largest copper mine in the US. Copper output from Bagdad is slated to increase by about 225-million pounds a year to more than 400-million pounds a year, while molybdenum production is expected to increase by about 12-million pounds a year to more than 20-million pounds a year. The Bagdad mine has been in operation since 1945 and, in 2025, became the first major US mine to operate a fully autonomous haulage fleet. The expansion and modernisation programme will include investment in expanded processing capacity; new concentrator facilities to provide about 115 000 t a day of incremental processing capacity; and supporting infrastructure, including a new primary crusher, overland conveyor, water pipeline, power line, mining equipment and related facilities. Construction of the new infrastructure will take about three-and-a-half years to complete, with initial production targeted for mid-2030. The project is expected to create more than 4 000 direct and indirect jobs during construction. The expanded operation is also expected to create thousands of long-term employment opportunities, while also reducing long-term unit net cash costs by about 20%.

  8. hace 6 días

    Merafe ferrochrome hits 61 000 t year-to-date mark as smelter ramp-up proceeds

    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 Johannesburg Stock Exchange-listed Merafe's attributable ferrochrome production from the Glencore Merafe Chrome Venture of 61 000 t was 46% down in the nine months ended September 30 compared with the corresponding nine months of 2025. The decline in production was primarily attributable to the suspension of production at the venture's Boshoek smelter from May 1 last year and at Wonderkop smelter from May 31 last year, Merafe outlined in a release to Mining Weekly. Following the conclusion of new electricity pricing agreements with South Africa's State-owned electricity utility Eskom in June, there was a September restart of operations at Boshoek and an October restart at Wonderkop. Now, the ramp-up of production at both smelters is expected to continue through the end of the fourth quarter on December 31. The negotiated pricing agreements with Eskom have given full effect to the 62c/kWh tariff approved by the National Energy Regulator of South Africa for the venture, as well as for Samancor Chrome. The revised negotiated pricing agreements' three-year electricity pricing framework is said to be enabling greater operational stability and flexibility. A ferroalloy composed of iron and chromium, ferrochrome is produced by smelting chromite ore with carbon coal and coke sources in electric arc furnaces. More than 80% of ferrochrome is used to give stainless steel resistance to rust, oxidation and wear. Most of the global output of ferrochrome is produced in South Africa, Kazakhstan and India, countries with domestic chromite resources. Meanwhile, Merafe's attributable chrome ore production from the venture for the nine months ended September 30 amounted to 658 000 t, representing a 7% decrease, mainly owing to lower run-of-mine production and a lower feed from upper-group-two reef concentrators. Merafe's attributable platinum group metals concentrate production from the venture during the period amounted to an 8%-lower 10 200 oz owing to lower primary mine production and feed mix.

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