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  1. hace 2 h

    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...

  2. hace 6 h

    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.

  3. hace 19 h

    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...

  4. hace 1 día

    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%.

  5. hace 3 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.

  6. hace 3 días

    Ontario govt to fast-track Mayfair's Fenn-Gib project under 'One Project, One Process' framework

    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. Ontario Energy and Mines Minister Stephen Lecce has confirmed the designation of the fourth major project – Mayfair Gold Corporation's Fenn-Gib gold project – under the province's 'One Project, One Process' (1P1P) framework. The framework forms part of the Ontario government's efforts to protect workers and communities against the impacts of US tariffs. The Ontario Energy and Mines Ministry states that the Fenn-Gib project is a key step in building a fully integrated and self-reliant mining supply chain. The gold project represents a $450-million capital investment and is expected to create 250 good-paying long-term jobs and 450 additional construction jobs, and add $3-billion to the province's GDP, the Ministry notes. "For too long, permitting delays stood in the way of getting Ontario's resources to market. 1P1P is single-handedly changing that – cutting duplication by half and delivering a one-stop shop for mining permitting, including for Mayfair Gold's Fenn-Gib project that will create 700 jobs and add $3-billion to our GDP. "To compete, we must be the best, which is why our government is planning to further accelerate permitting this fall, to get mines built faster, unlocking billions in investment to create more good-paying jobs right here at home," Lecce comments. The project, which will entail the development of an openpit gold mine and on-site processing facility, has an estimated initial mine life of 15 years, once in operation. Through the 1P1P framework, Mayfair expects to secure the permits required to make a construction decision as early as 2028. Construction and commissioning are estimated to take two years, with production to start in 2030. "The 1P1P designation is an important milestone for the project and reinforces Ontario's commitment to responsible, investment-ready mining development. This framework provides greater coordination and predictability as we advance Fenn-Gib through permitting and development, helping move the project closer to construction and the significant employment and economic opportunities it can create for the region," Mayfair CEO Drew Anwyll says. Other projects designated under the 1P1P framework since its launch in October 2025 are Frontier Lithium's world-class PAK project, Kinross Gold Corporation's Great Bear project and Canada Nickel Company's Crawford project.

  7. hace 4 días

    Mine hydropower extolled at Minerals Council climate event

    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 converting excess water pressure into renewable electricity, emissions are reduced, energy efficiency is uplifted and additional value is created from existing mining infrastructure, Harmony Gold strategic lead for climate and integration Mohammed Asmaljee spelt out emphatically at the launch Minerals Council South Africa's inaugural Climate Change Day of Learning, attended by public sector and private sector climate mitigation protagonists. By capturing pressure from chilled water used in underground mining, the Johannesburg Stock Exchange-listed Harmony generates renewable electricity amid the water that travels thousands of metres underground building up pressure naturally for conversion into electricity through hydroelectric turbines. Importantly, this process recovers energy from existing mine infrastructure without additional water consumption. Such energy recovery systems are deployed at Harmony's underground Kusasalethu, Moab Khotsong and Mponeng gold mines, with water continuing through the mine reticulation network ensuring uninterrupted operational use after passing through the turbines. Four Pelton wheel turbines, for example, are supplying electricity directly to Kusasalethu, where a multi-phase hydropower rehabilitation programme has been implemented to improve reliability, performance and monitoring. A Pelton wheel turbine, a type of impulse water turbine invented by Lester Allan Pelton in the 1870s, converts the kinetic energy of moving water into mechanical and electrical power. Seventy gigawatt hours of renewable electricity have been generated since financial year 2024 and 73 000 t of CO2-equivalent (CO₂e) Scope 2 emissions have been avoided, which has improved energy efficiency by recovering otherwise wasted pressure energy. Water temperatures have also been reduced by 1 °C, which has uplifted underground cooling efficiency and lowered cooling demand. "For us, decarbonisation is fundamentally a business challenge. How do we continue to grow our business in both gold and copper while still reducing our emissions," is the question Asmaljee posed, within the context of South Africa advancing towards net zero greenhouse gas (GHG) emissions under the auspices of the Paris Agreement – a stance being taken ahead of COP31, the thirty-first United Nations Climate Change Conference, which is taking place this month in Antalya, Türkiye, from November 9 to 20. "It affects how we think about energy, costs, competitiveness, regulation, and ultimately the long-term resilience of our operations. We are learning as we navigate this complex transition," Asmaljee explained at the event covered by Mining Weekly. Harmony's carbon challenge is driven largely by Scope 2 emissions from electricity bought from State-owned power utility Eskom, and this is a common challenge for deep-level mining in South Africa, where significant electricity is needed for ventilation, cooling, pumping, hoisting, and processing. Though Harmony's Scope 1 emissions are considerably smaller, there are still tremendous opportunities to reduce them through diesel efficiency and other fossil fuel efficiency projects, improved fleet performance, and future electrification. Business growth and portfolio expansion are also influencing the overall emissions of the gold and copper mining company, which owns CSA Copper and Eva Copper in Australia, assets that increase the company's exposure to the critical minerals needed for the green energy transition. Emphasis was placed on growth and decarbonisation needing to happen together. The challenge is to grow while progressively reducing GHG emissions. Up to 2026, Harmony's emissions have remained relatively stable, but from here on, the emissions trajectory is poised to decrease...

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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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