Mining Weekly Audio Articles

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 will consider building its first new oil refinery in more than 60 years, Prime Minister Anthony Albanese said on Tuesday, as war in the Middle East squeezes supplies from overseas and underscores the urgency to improve energy security. Albanese said the project will help build Australia's resilience and sovereign capability on fuel, potentially helping shield the country from future supply shocks. If the project proves feasible, the new large-scale oil refinery will be built by industrial chemical producer Perdaman in Western Australia, Albanese said. "The war in the Middle East ... is having an impact here, like it's having an impact right around the world," Albanese told reporters from Karratha in Western Australia's Pilbara region. "One of the things that building national resilience does is it makes Australia less vulnerable to the impact of events around the world." Albanese said his government and the Western Australia state government will jointly spend A$4-million ($2.8-million) on a feasibility study for the refinery. "We want to make sure that we get the right location but we want to make sure as well that it's a project that stacks up, that can go forward," Albanese added. Australia depends on imports for about 80% of its fuel needs and has been racing to secure supplies amid the Iran war. The government's push to cut its import dependence on oil comes after an Australian Treasury report warned that the global oil market has become more vulnerable "with weaker buffers against supply shocks". Global oil inventory levels have dropped since conflict in the Middle East intensified, while refined fuel markets are now at risk of tightening further, the treasury said in a briefing provided to Treasurer Jim Chalmers over the weekend. Most of Australia's domestic oil refineries were built during the 1950s and 1960s, but high operating costs and the emergence of large refineries across Asia forced many to shut down over the past three decades. Ampol's Queensland refinery and the Viva Energy facility in Victoria – both on the country's east – are the only two operational now, compared to eight in 2000. Western Australia's only refinery was shut down in 2021 after BP decided to convert its 146 000 barrels a day Kwinana plant into a fuel import terminal.

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 quality of iron-ore from Northern Cape is continuing to differentiate South Africa in the global iron-ore market. During the first half of this year, the average realised export price of $90 per wet metric tonne (wmt) was 8% above benchmark and among the strongest in the seaborne iron-ore market. Kumba Iron Ore's average iron content of was 63.6% while its lump-to-fines ratio remained approximately 66%, placing the Anglo American group company's products "We continue to supply markets beyond China, including Japan, South Korea, and Europe, achieving an overall price premium of $7 per ton above the benchmark," Kumba CEO Mpumi Zikalala told journalists during media call in which Mining Weekly participated. While China's steel demand is expected to plateau over time, long-term demand for premium iron-ore is expected to continue to be positive as higher-grade products play an increasingly important role in supporting new steel capacity, particularly in India as well as South East Asia. Moreover, ultra-high dense media separation (UHDMS), an advanced mineral processing technology being implemented by Kumba at its Sishen iron-ore mine, is expected to increase the volume of premium iron-ore to 55% of Sishen's production, up from the current 18%. At its core, UHDMS provides greater flexibility across a wider range of ore grades and densities. Meanwhile, Sishen's production will be lower as Kumba goes ahead with the UHDMS project tie-in, which means that Kumba's DMS plant at Sishen will be shut down, with only Sishen's jig plant remaining operational. The main tie-in is on track to begin next month. Engineering is substantially concluded, and all major procurement is complete at the UHDMS project, which is now 45% complete. To date, we have invested R5.2-billion rand in UHDMS, with the approved project capitals remaining unchanged at R11.2-billion. "The UHDMS is an investment in Kumba's future. It will improve our product quality, increase recovery from our existing resource, strengthen the competitiveness of our business, and also more critically, extend the life of the Sishen mine," Zikalala reported Kolomela production will continue at normal levels and Kumba remains on track to deliver full-year production guidance of between 31-million tons and 33-million tons. ARTIFICIAL INTELLIGENCE Mining Weekly put this question to Kumba: Are you planning any modernisation along AI lines? Zikalala: Great question. Firstly, I can confirm that we do have an AI strategy as a business, and, as you would imagine, some people see AI as a threat. We actually see it as an opportunity, and it's something that we're already working on in various parts of our business. We're implementing AI to assist us to improve the safety of our people in the business and I'm pleased to say that part of the reason why we can talk about the improved safety performance is due to work that our teams have been doing around AI. Interestingly, we're also implementing AI from a geology perspective and, as you can imagine, geology is very important in our business. We spoke earlier in the year about the growth in both our reserves as well as our resources, and our teams are utilising AI as we progress. Because ultimately, the significant growth that we saw from a resource base is something that we'd like to convert into reserves and actually ultimately see the extension of life at both Sishen and Kolomela. Then, secondly, from a full potential programme perspective, we are implementing AI in all the various parts of our business from a value chain perspective, touching on the mining side as well as the processing side. Pleasingly for me is that when I look at the teams that we have, it's something that we fundamentally decided we will see...

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. Instead of relying primarily on traditional geological interpretation, South Africa can turn to artificial intelligence (AI) for help in the same way as has been done with huge success to discover Zambia's biggest copper deposit in a 100 years, South Africa's Mining Modernisation Showcase attendees heard. To achieve this success, KoBold Metals digitised 300 years of handwritten geology reports, taught geology to AI, used AI models to analyse the vast amounts of geological, geophysical, drilling and historical exploration data to predict where high-grade mineralisation was most likely to occur, and then drilled a hole. The outcome is that ground has already been broken at Mingomba, where the construction of a $2.3-billion copper mine is under way. "It's crazy good, and the reason why I've given this example is because this is one of the specific things that South Africa needs to do," PwC Associate Director Smart Mining South Africa Ian Mackay explained at the mine modernisation event led by Minerals Council South Africa, Research Institute for Innovation and Sustainability (RIIS), the Centre for Science, Technology and Innovation Indicators specialised research unit within South Africa's Human Sciences Research Council, the Department of Science, Technology and Innovation, the National Advisory Council on Innovation, and PwC Smart Mining South Africa. (Also watch attached Creamer Media video.) The need for South Africa to be able to identify deposits where its next mines will be built was emphasised as being ultra urgent given the high dependence of South Africa's economy on mining. "Before we can go and talk about investors and all the rest of it, we actually need deposits. We need something to put in the cadastral system in order to be able to sell it," Mackay outlined. Mining cadastres track precise geographic boundaries, active operations, permit expiration dates, and the status of applications and South Africa's has still to be fully developed, amid Minerals Council South Africa pointing out at its 136th annual general meeting in May, that there is an urgent need for a one-stop shop for mineral right applications to coordinate and align all relevant regulations from other departments, to streamline and expedite approval processes. In addition to optimising exploration, AI can already support a range of mining use cases such as detecting illegal mining using satellite imagery, predicting equipment failures before they happen, improving environmental performance, automating hazardous tasks, and improving metal recovery and processing. AI could support research into new uses for platinum group metals, find new industrial applications for rare earths and battery chemistries, and potentially help to unlock deep gold resources. "AI is not magic but used properly, it can help us see earlier, decide faster, operate faster, reduce waste, improve productivity, and unlock new forms of value," Mackay pointed out at the event covered by Mining Weekly. PwC's full study is based on ten structured, anonymised CEO interviews, additional focus group sessions with line management from a diverse range of miners, and industry meetings and strategy sessions. South Africa's mining industry is not growing in the way it needs it to grow. Very few large new mines have started in recent years, more mines have closed, economically viable deposits are harder to find, employment continues to decline, and illegal mining, infrastructure failures and community pressure are adding further strain. Can AI and the Fourth Industrial Revolution help South African mining become safer, smarter, more competitive and more inclusive — or will South Africans allow the opportunity to pass their country by? Mining is being hit by clima...

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. Fortescue founder Andrew Forrest called for China and Australia to "always negotiate fairly," at an event in Perth on Monday, as the world's fourth-largest iron-ore maker negotiates annual supply terms with its biggest customer. Global iron-ore miners have faced increasing resistance from China's state iron-ore buyer, China Mineral Resources Group (CMRG) in annual supply talks over the past year as China seeks better terms for its steelmakers. Measures by CMRG have included restricting China's vast network of steel mills from buying certain iron-ore products from miners while negotiations were underway. "Bilateral trade has supported Australian jobs, businesses, and public services, and also provided China with a secure and reliable supply of iron-ore that drove its extraordinary, unprecedented, historic, and industrial growth," Forrest, who is also Fortescue's executive chair, told the Boao Forum Perth, an offshoot of the larger Boao Forum for Asia. Australia is the world's top iron-ore producer, accounting for some 53% of global supply. It expects iron-ore export earnings to fall to A$108-billion ($75.57-billion) in the 2026/27 financial year from A$117-billion last year as global supply rises. The "shining light of partnership" should encourage Australia, China, and also Gabon, where Fortescue is building more iron-ore operations, to "grow together," he said. "Let's always negotiate fairly... true partnerships are built on a partnership of the future." CMRG notified China's domestic steel mills in early July that from July 15 they must not take delivery of Fortescue's Super Special Fines product held at ports.

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

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

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

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The future of modernisation in South African mining will not be forged by individual companies or institutions working in isolation but collectively by industry leaders, researchers, government partners, and innovators from across South Africa's mining community, who gathered on Thursday, July 23, for this shared purpose. "The modernisation of our mining industry is not a task any single organisation can undertake alone," Minerals Council South Africa CEO Mzila Mthenjane emphasised at the council's upbeat Modernisation Showcase event undertaken in partnership with the Research Institute for Innovation and Sustainability (RIIS), the Centre for Science, Technology and Innovation Indicators' research unit within South Africa's Human Sciences Research (HSRC-CeSTII) Council, PwC's Smart Mining, the Department of Science, Technology and Innovation, and the National Advisory Council on Innovation. (Also watch attached Creamer Media video.) "Periodically, an industry must pause and answer two questions honestly: where are we and where are we headed? Not where we believe we are or where our communications suggest we are. But rather, where the evidence, tested against international practice, indicates we are and stand. That is the purpose of today." Over recent months, three independent but complementary pieces of research have been completed, each examining modernisation in South African mining from a different perspective. The group has defined modernisation as the people-centred adoption of new technologies, mining methods, skills and systems to enable mining that is safer, healthier, more productive, more competitive and more sustainable. The research pieces are: The Global Benchmarking Report, prepared by RIIS and the Minerals Council South Africa, which situates South African mining against its international peers.The RDI Survey Report, prepared jointly by HSRC-CeSTII and RIIS, which establishes the extent of research, development and innovation activity in this sector, and where it is concentrated.The 10 Insights into 4IR Report, prepared by PwC, which examines where AI and Fourth Industrial Revolution technologies have moved into genuine operational use, and where they have not. "Each of these reports carries value independently. Together, they constitute something more substantial: a comprehensive view of modernisation in the country's mining industry – the investment we are making, our standing relative to the rest of the world, and the practical extent to which advanced technology is being deployed on our mines," Mthenjane pointed out at the event covered by Mining Weekly. "This matters, because mining matters. South African mining remains a principal engine of this economy. Our members account for a large portion of the country's mineral production – more than 90% based on annual minerals sales by value – and sustains close to half a million jobs directly, with more than three-million dependent on the sector indirectly. "The challenges before us are well understood: ageing infrastructure, deepening and increasingly complex orebodies, constraints in energy and logistics, and a global investment community with no shortage of competing jurisdictions for its capital. "Opportunities are also abundant, including a domestic and global minerals demand for infrastructure and basic services development, driving the energy and technology transition and elevating significant social prosperity. "In this context, modernisation is not a discretionary pursuit. It is what will keep this industry safe, healthy, competitive, and viable for future generations," Mthenjane explained. This showcase, accordingly, is intended to: create genuine space for evidence-informed dialogue among industry stakeholders – dialo...

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Canadian miner Teck Resources managed to deliver another quarter of strong operational and financial performance in the three months ended June 30, generating significant earnings and robust cash flow on the back of strong copper sales volumes, a favourable commodity price environment and disciplined execution across its operations. Teck president and CEO Jonathan Price says the company achieved a third consecutive quarter of stable operating performance at the QB mine, which demonstrates the progress made to strengthen reliability and consistency at one of the world's most important new copper operations. "These results reinforce the strength of our business and position us well to advance the planned merger with Anglo American to create a global critical minerals champion with the financial strength, operational capability and portfolio quality to deliver significant value for shareholders," Price adds. Teck's adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) totalled $2.2-billion in the second quarter, which marked a 204% increase on the second quarter of last year. Ebitda in the prior corresponding quarter amounted to $722-million. The group's adjusted profit attributable to shareholders increased from $187-million, or $0.38 apiece, in the second quarter last year to $948-million, or $1.93 apiece, in the reporting quarter. The profit attributable to shareholders was $854-million, or $1.74 apiece, compared to attributable profit of $206-million in the same quarter last year - marking a 314% increase. Cash flow from operations of $1.7-billion increased Teck's net cash position by $756-million during the second quarter this year, with its liquidity standing at $10.3-billion at the end of June - including $6.1-billion of cash. Notably, the company's copper segment generated gross profit before depreciation and amortisation of $1.8-billion in the second quarter, compared with $673-million in the same quarter last year. This was driven by higher production and record copper prices, which averaged $6.05/lb in the quarter under review. Teck produced 135 900 t in the quarter, which marked a 25% year-on-year increase, with production increases having been recorded across all of its copper operations. The zinc segment generated gross profit before depreciation and amortisation of $353-million in the reporting quarter, compared to $159-million in the same quarter last year. This segment also benefited from higher commodity prices and continued focus on cashflow generation through Teck's optimised feed strategy at the Trail Operations. Teck remains on track to produce between 455 000 t and 530 000 t of copper in the full year, and between 410 000 t and 460 000 t of zinc, which would deliver between 190 000 t and 230 000 t of refined zinc.

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The increased efficiencies achieved by AI are ensuring that even lower quality operations are kept going for longer which benefits all stakeholders, Thungela Resources CEO Moses Madondo made clear to Coal & Energy Transition Day attendees on Wednesday, July 22. Madondo did so in response to mining luminary and event chairperson Bernard Swanepoel drawing attention to the propensity of CEOs announcing the number of people that they were laying off because of the benefits of AI and asking about the prospect of AI reducing coal mining workforces. "It's always been a confused conversation. I think we like to pronounce on things because it's a nice sound bite. It scares everyone that AI is going to replace people's jobs. You can go back to the conversations last ten years. "People are revisiting those conversations because with all technology development, that story always arises. But all technology development grows economies and industries and creates more jobs, and that's the nature of the beast. "Even for us, where we're using AI, we're getting more efficiencies, ensures we keep even our lower quality operations going longer. So, all of us take advantage of the opportunities that technology provides, and that's how we should think about it," Madondo emphasised at the event covered by Mining Weekly. (Also watch attached Creamer Media video.) In response to Swanepoel's earlier question on the extent of employee and community "ownership" and say in Thungela, Madondo explained that all stakeholders affected by the business "own" the business because of their say in it. "We obviously want them to benefit, so all of us, and more importantly, our employees, who are the core of the business and really make the business work, of course, have a stake in it." Regarding the world moving towards lower coal use for electricity generation, and even South Africa planning to reduce its dependence on coal over time, Madondo was asked how Thungela was adapting to that structural shift. "I think the policy environment in South Africa needs to get a lot more congruent about what our own objective as a country is and probably focus on that. "None of us is in disagreement about decarbonisation. It's the pathway of how we do that that's important. We should decarbonise in a manner that ensures that our people get jobs, create value for our people. At Thungela, we look at what the world demands and needs from coal and those demands and needs are growing and they are sustained. And certainly, in the developing world, it continues to be that obvious," Madondo responded. Accenture Mining Africa head Allen Makamure, who served as co-chairperson, questioned Madondo on Thungela's deliberate choice to remain a pure play coal company, while others have been hedging and diversifying. "You have been in the CEO role for a year. What have you seen that confirms this conviction, and what, if anything, has tested it?" Makamure asked. "You're starting from where we were probably ages ago to where we are today. I think we're a lot further down the road, in a better space in terms of where the conversation is landing, maybe helped by other global events that have helped to change the narrative. "Thungela has been around now five years and has established a business that is looking good and doing some good work, not only in the communities where we serve, but also through environmentally responsible good stewardship as a coal business, and we continue to make positive impact. We still own largely only coal mining operations. We are busy with a gas project now in Lephalale, which we are excited about. Here is the reality: Thungela has never said that they're not looking at any other opportunities. We've always said that we're about creati...

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. The troubled Optimum Colliery, having emerged from a business rescue process in February 2024, is being rapidly revived with a multibillion-rand investment from Liberty Coal to ramp up mining, processing and exports. This investment – in excess of R3-billion to date – is driving significant revitalisation activity around the once expansive and highly productive mining complex. Acquired by Liberty in February 2024 as part of a successful business rescue transaction, Optimum has a long history in South Africa's coal mining sector, dating back to 1970 when the complex was developed to supply coal to State power utility Eskom's Hendrina Power Station. The power station is less than 2 km from Optimum's heavy dense media separation (HMS) plant and less than 5 km from Optimum's mine offices. Mining Weekly visited the vast 38 000 ha mining complex on July 21, where a newly refurbished dragline was seen in operation at the Kwagga mine – a single renewal project that in itself cost Liberty R460-million. In its heyday, Optimum Colliery operated the most extensive fleet of the biggest models of draglines in the whole of Africa, according to a senior mine representative. Draglines the size of the 100 m-long-boom Marion 8200 are no longer manufactured, but would carry a price tag of about R2-billion in the current economic climate if they were, as confirmed by a Kwagga mine representative involved in its restoration. Liberty Coal COO Peter Nordin said a single dragline replaces eight excavators and enables significant economies of scale for the company and, as a result, its restoration was an easy decision to make. He added that because a dragline has not been successfully recommissioned in South Africa for nearly six years, Marion 8200 Number 3's restoration was "a significant moment in Liberty's achievements" to date. Mining Weekly visited the mine in December 2022, where two Marion 8200's and a Bucyrus dragline were observed parked, derelict and in a state of disrepair after years of abandonment following Optimum's decline in the years of State capture after the Gupta family acquired it in 2015. These draglines – which can excavate coal to depths of nearly 80 m while hoisting about 135 t of material in a single scoop – enable Liberty to undertake large-scale overburden stripping to expose underlying coal seams. As part of the dragline refurbishment project, major load-bearing components underwent structural integrity assessments and non-destructive testing, while the machine's bucket, rigging and fairlead assemblies were inspected and refurbished to optimise performance. The walking mechanism, slew system and lubrication systems were also serviced to restore full operational reliability. In terms of acquiring skilled dragline operators, Nordin said Liberty Coal was fortunate to be in the vicinity of other current dragline operations, with one particular such operation recently having ceased some dragline duties. Liberty plans to refurbish the other two draglines at Kwagga mine, with a feasibility exercise set to be undertaken on resorting the other Marion 8200 in 2027, following which some parts (with a lead time of up to 24 months) will need to be manufactured. The Bucyrus restoration will be undertaken once the second Marion is operationalised. "Within the next five years, we will have three draglines operating," stated Nordin. In terms of amalgamating the various detached mines that made up Optimum in the past, he said Liberty has consolidated the nine previously separate opencast mines at Optimum under a single mining right now registered to the company. Liberty is also advancing plans to revive the historic Boschmanspoort underground mine within the same mining right, with production expected to beg...

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Australia's Lynas Rare Earths on Wednesday warned of a cost overrun at its heavy rare earths expansion project in Malaysia after reporting fourth-quarter revenue below analyst expectations, sending its shares to a more than five-month low. The world's largest rare earths producer outside China said the estimated cost for the Malaysia project rose to nearly A$294-million from A$180-million, underscoring the challenges Western producers face in producing the niche metals. Lynas said the next step at the project is first production of gadolinium in early fiscal 2028, yttrium in early calendar year 2028 and, finally, lutetium. Shares of the company fell as much as 9.1% to A$14.510, their lowest level since February 6, and were the top laggard on the benchmark S&P/ASX, which was up 0.1%. The quarterly revenue was however Lynas' strongest in four years, helped by incentives that supported prices for Western producers of rare earths, a group of metals used in renewable energy and defence. "Customers continue to focus on securing sustainable, outside China supply chains due to geopolitics and export restrictions," Lynas said in a statement. Quarterly sales revenue jumped nearly 70% to A$288.9-million ($202.2-million), but was about 20% below the Visible Alpha consensus estimate. The weaker-than-expected sales result overshadowed gains in pricing. The average selling price rose to A$98.2/kg from A$60.2/kg a year earlier. The company said ore quality issues at its Mt Weld project in Western Australia affected production, with total rare earth oxide output rising to 3 481 tons from 3 212 tons a year earlier, but coming in 10% below the Visible Alpha consensus estimate.

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 centrepiece of the R10-billion five-project Vision 2028 of DRDGOLD is the mammoth regional tailings storage facility (RTSF) at Far West Gold Recoveries surface retreatment operation, near Carletonville, in South Africa's Gauteng province. The commissioning of the fully lined RTSF, which covers an area of 800 ha, is being sequenced through defined regulatory, construction and seasonal gates. Targeted in the first quarter of financial year (FY) 2028 is stable production of 1.2-million tonnes a month with an opportunity to double that to 2.4-million tonnes a month. Once developed, RTSF, which is 67% complete, will accommodate up to 800-million tonnes of tailings and support the long-term production profile of Far West Gold Recoveries for many decades to come. Highlighted on the final slide of a 27-slide RTSF construction-focused presentation by DRDGOLD COO Jaco Schoeman was a near-term opportunity to recover 120 kg of gold by increasing the treatment capacity at Driefontein Two (DP2), also a Vision 2028 project. (Also watch attached Creamer Media video.) "We have an opportunity to increase the treatment capacity at DP2 from 500 000 t a month to 600 000 t a month, up to a point in time when we then anticipate bringing the Libanon tailings dam online. As soon as Libanon tailings dam is brought online, we can increase the treatment capacity from 600 000 t up to 1.2-million tons per plant. "So, during this period, there's an opportunity to increase it from 500 000 t a month to 600 000 t a month for a six-month period, which equates to 120 kilograms of gold. But this is dependent on getting regulatory approval, getting the Libanon facility up and running, and making sure that the construction is happening on time. "It is also weather dependent. Additional rain poses a risk for this facility. Therefore, the current planning for us is to continuously look at this opportunity and see how the construction of this facility is proceeding. "But eventually, after quarter four of 2027, we intend to then ramp up to 1.2-million tonnes a month, and this is to ensure that we do not compromise the RTSF facility, making sure that it's constructed in a responsible manner," Schoeman stated in the presentation in which DRDGOLD CEO Niël Pretorius and DRDGOLD CFO Henriette Hooijer also participated. All the water from the R3.4-billion RTSF ends up in reclamation stations, for use in a closed water circuit. The first phase of the three-phase project is to get authorisation to begin deposition while still constructing the rest of the dam during Phase 2 and Phase 3. For the first phase, the RTSF requires what is termed beneficial occupation, that is, authorisation to start depositing on part of the tailings facility, while still constructing the rest of the dam as part of Phase 2 and Phase 3. Displayed was the large area that needs to be lined, parts already lined and areas associated with considerable drainage. Ahead of receiving beneficial occupation, water that falls on RTSF's lower southern area needs to be drained. The topography slopes from north to south and a temporary stormwater drain canal is being installed in the south. At this point in time, all water drains through that stormwater canal, but once beneficial occupation authorisation is obtained, the stormwater canal must be sealed off. Drainage comes in the form of radial drains, which extend into the basin of the RTSF, the borrow pit drain that extends around the tailings dam on the inside of the starter wall, the main drain that recovers water from the inside of the basin and the floor of the tailings dam, an intermediate drain and a toe drain. Once depositing commences, deposition will be on inside drainage, which is called upstreaming and at a point in ...

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. BHP and unions representing workers at Western Australia's Port Hedland, the world's largest iron-ore export hub, edged closer to a deal on Tuesday, though talks ended without an agreement and will resume next week, the union said. Port Hedland is a major artery for Australia's iron ore, through which $80-million of BHP's products transit each day. The world's largest listed miner has been in negotiations for more than seven months with unions representing around 450 operators and maintenance workers for a four-year enterprise agreement. On Thursday, "well over" 100 workers at its Port Hedland iron-ore operations downed tools for an eight-hour stoppage, according to a union estimate. Combined Ports Unions, which represents three unions, had previously estimated as many as 200 workers would join the action. "Our focus remains on making constructive progress towards fair and reasonable agreements," BHP said in a statement. "We are committed to continuing to bargain in good faith on new workplace agreements across our iron ore operations and believe that the involvement of the independent Fair Work Commission for Port bargaining is the most constructive way to achieve the best outcome." The Fair Work Commission is an industry regulator that can be brought in to assist in the bargaining process and can ultimately become the final arbiter of any deal. "It hasn't seemed to have disrupted operations too much at the moment," said portfolio manager Andy Forster of Argo Investments, which holds BHP shares. "It's clearly concerning if it starts to lead to further action and more interruptions," he said, adding that for now, any impact appeared to be contained, and that BHP appeared hopeful an agreement could be reached. The Electrical Trades Union, which represents electrical workers at Pilbara port, estimated that on average it was asking for an extra A$25 000 ($17 510) per worker for the 450 workers. Fly-in-fly-out roles, where workers commute by plane to remote mine sites, missing family time, could no longer compete with city conditions, the ETU said in a statement. "In the past, workers could double Perth wages if they worked in the Pilbara ... This is no longer the case." Its analysis found that wages for long-standing employees across BHP's iron-ore operations remained largely stagnant over the last five to six years, despite consistent corporate growth and rising living costs in regional and remote areas. "In contrast, new hires are being offered higher rates to attract them to site, often creating a two-tiered workforce where experience is undervalued and equity is undermined," it said. Last week, electricians maintaining BHP's high-voltage power network in Western Australia's Pilbara region overwhelmingly backed strike action, escalating labour unrest. They will meet with BHP for talks on Thursday.

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. When the R10-billion five-project Vision 2028 expansion plan of Johannesburg Stock Exchange-listed surface gold company DRDGOLD was conceived in 2024, its market capitalisation was about R13-billion and the gold price R1.2-million per kilogramme. Currently, DRDGOLD's market capitalisation is in the region of R30-billion and the gold price R2.1-million per kilogramme. "Our timing could not have been better," DRDGOLD CFO Henriette Hooijer pointed out during DRDGOLD's Vision 2028 update, in which DRDGOLD CEO Niël Pretorius and DRDGOLD COO Jaco Schoeman participated. (Also watch attached Creamer Media video.) With just over R5-billion already spent, DRDGOLD is roughly halfway through its Vision 2028 programme, with most expended on the Driefontein Two (DP2) project at Far West Gold Recoveries on the West Rand, the regional tailings storage facility (RTSF) also at Far West Gold Recoveries, and, in the current financial year, also on the Daggafontein tailings storage facility (TSF) at Ergo on the East Rand. As Vision 2028 proceeds into financial year (FY) 2027, very little capital remains to be expended on DP2 and Daggafontein, "so yes, we're tracking well", said an upbeat Hooijer, who emphasised how chuffed the team was to pour the first doré gold bar in the new DP2 smelt house on schedule and on budget on Tuesday, July 14. After the smelt, the 17 kg of gold was whisked away by helicopter off the new fully walled adjoining helipad. Capital spent still to be spent to FY2029 includes: R3.4-billion on the very large RTSF;R1.9-billion on DP2, where R880-million for an up-flow reactor (UFR) has also won board approval;R1.2-billion on the 135 km of pipeline network to serve DP2, RTSF and the Libanon TSF in Westonaria;R0.5-billion for the Daggafontein TSF at Ergo; andR3-billion for the Withok TSF on the East Rand. "A new feature is the UFR plant," Hooijer disclosed during the presentation covered by Mining Weekly. Most of next year's planned R2.6-billion expenditure relates to RTSF, a little bit on the pipelines and hopefully also commencement at Withok, where the original capital expenditure forecast of R2.5-billion has had to be increased to R3-billion on account of the impact that disruptive geopolitics has had over the last few months on the oil price and inflation. "We believed it to be prudent to re-evaluate, also based on the new information we got on Withok from a design point of view," Hooijer explained while adding that the R3-billion would still be refined as time passed and that the Withok construction timeline is also fairly fluid. POTENTIAL CODE-CRACKER The UFR is scheduled to be completed at Far West Gold Recoveries in the last quarter of FY2027. "We did some testwork. We liked what we saw. We took a recommendation to the board and we've been given the go-ahead to build an Aztec up-flow reactor. "This is frontier stuff for us, so whilst we're very happy with the pilot work, which was not laboratory scale testwork but proper pilot plant testwork, this technology has not been tested in real world conditions and we'll only know what the contribution of the UFR will be once we see it. "So, we're not updating any of our forecasts or any of our guidance in terms of what we believe this reactor will deliver until we've seen real world numbers. It's an important development, though, and we hope that it lives up to expectations," Pretorius explained. The mammoth RTSF can take far more than its initial throughput of 1.2-million tons per month. This large facility has the capacity to accommodate double that, with throughput potentially being incrementally increased by 600 000 t a month over the next seven years. "What we need to do now is to find the additional opportunities to take it up to those add...

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. An ad hoc group of note holders of nickel and cobalt producer Sherritt International Corporation has expressed concern about the company's claims to be in active discussions with its senior lenders and note holders as the company pursues comprehensive recapitalisation, saying that Sherritt materially overstated the current status of engagement with note holders. Sherritt's financial and operational woes started earlier this year when US sanctions against Cuba came into effect, which impacted Sherritt's joint venture cobalt and nickel operations in the country, as well as its downstream refinery in Alberta. The company has publicly acknowledged constrained liquidity, material going-concern uncertainty and the need for significant new capital to fund the restart of operations and related working capital. The ad hoc group confirms that while they have organised and established a coordinated engagement process, with financial and legal advisers included, there has not been meaningful engagement from Sherritt's side regarding a comprehensive recapitalisation, the ad hoc group's potential provision of new capital or any other alternative recapitalisation proposal. The note holders believe shareholders should understand that an organised creditor constituency exists and is prepared to engage, but that engagement has not advanced in a manner consistent with the urgency of Sherritt's circumstances or the central role that note holder consent is expected to play in any executable transaction. Sherritt mentioned earlier this month it is trying to advance a possible transaction involving Gillon Capital, which it deemed as the most executable path forward, however, the ad hoc note holder group says it has submitted an alternative recapitalisation proposal to Sherritt that warrants evaluation. Having evaluated potential sources of new capital, the ad hoc group has provided Sherritt with an emergency financing term sheet intended to address near-term liquidity requirements and preserve operational flexibility while a broader recapitalisation is advanced. The note holder group is concerned that the current process risks advancing a preferred transaction path while meaningful engagement with holders remains limited. "The ad hoc group will not support a process in which note holders are expected to provide required consents only after material terms have been substantially negotiated and transaction outcomes have effectively been predetermined," the group states. The note holders add that delays in considering all possibilities and communicating accordingly carry real economic consequences, including increasing restart costs, working capital requirements and overall financing needs. The ad hoc group encourages Sherritt and its advisers to engage with them promptly regarding all credible recapitalisation, financing and strategic options, including the group's suggested emergency financing term sheet.

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. Platinum group metals (PGMs) are fundamentally key to the delivery of China's 15th Five-Year Plan to 2030, Shanghai Platinum Week 2026 has served to highlight. Founded and organised by the World Platinum Investment Council (WPIC), Shanghai Platinum Week this year attracted a record 713 in-person attendees, up 30% on 2025. During the agenda-packed week, it was reported that China had earmarked close to $300-billion for AI infrastructure expansion and PGM-based hydrogen production was being increased in China at a faster pace than anywhere else on the planet. "The prospect of significant growth from AI-related platinum demand is an overlay that the market is only just beginning to appreciate and China's hydrogen scale-up is supported by ambitious deployment targets for PGM-based hydrogen production and PGM-based fuel cell electric vehicle assembly. On current fundamentals, the value proposition for platinum remains compelling," WPIC CEO Trevor Raymond stated in a media release to Mining Weekly. AI-related applications that are poised to benefit from PGMs include silicone production, hard disk drives, thin-film coatings on semiconductors and sensors, electronic grade glass fabrics for printed circuit boards, crucibles needed to grow industrial crystals for optical interconnects, and hydrogen fuel cells for data centre back-up power. Understanding the emerging AI-related platinum demand and the additional value it could bring is viewed as being important for both strategic, long-term investors and also short-term market participants. The focus on growing AI and new energy technologies also underscores why, in China, the strategic and economic importance of PGMs is fundamental to the delivery of key aspects of the nation's 15th Five-Year Plan. Shanghai Platinum Week 2026 has served to highlight the trends underpinning China's PGM demand requirements, as well as the ways in which supply from PGM mining can continue to meet these needs, either by continuing to maximise value from established resources, or by developing new orebodies. "The platinum market is forecast to record its fourth consecutive deficit in 2026, leading to further depletion of above ground stocks, with just under three months' worth of cover to meet global demand now expected by the end of 2026," Raymond stated in the WPIC release, which coincided with these other announcements from entirely different sources: Global business-to-business market research firm MarketsandMarkets reporting its expectation that the hydrogen market will reach the $312-billion level by 2030 and IDTechEx seeing a global green hydrogen market of $166-billion by 2037.Fuel Cell and Hydrogen Energy Association of the US drawing attention during its webinar on July 15 to the various pathways that hydrogen and fuel cells are taking into maritime applications and the maritime industry's use of fuel cells and hydrogen as a source of propulsion amid increasing pressure to comply with international climate regulations.Plug Power of the US being awarded the front-end engineering design contract for the supply of a 275 MW PGM-based proton exchange membrane (PEM) electrolyser system for Hy2gen Canada's Courant project in Baie-Comeau in Québec. Nel PEM Electrolyser company of Norway reporting 31%-higher first-quarter revenue driven mainly by small-scale hydrogen electrolysers and a 96%-higher second-quarter PEM order intake.Air Products Europe's new liquid hydrogen liquefier in the Port of Rotterdam being more than 65% complete.Germany's green hydrogen pipeline network now spanning France, Belgium, Holland and Austria.GeoPura and Forth Ports agreeing to produce on-site green hydrogen at the Port of Tilbury in London.Bosch introducing a hydrogen fuel cell system for bus...

Mining Weekly Editor Martin Creamer tell us how the new elution circuit and smelt house facility at DRDGOLD's Far West Gold Recoveries is performing; he discusses the R964m that is to be spent at Sibanye-Stillwater's K4 platinum group metals shaft; and he notes that Mintek is tar

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. Electricians maintaining diversified miner BHP's high-voltage power network in Western Australia's Pilbara region have overwhelmingly backed strike action, the Electrical Trades Union (ETU) said on Friday, escalating labour unrest less than a day after hundreds of workers at the miner's Port Hedland iron-ore operations walked off the job. The union said 97.5% of the electricians voted in favour of work stoppages ranging from 30 minutes to 24 hours. "High voltage workers are seeking transparent classifications, clear criteria for promotion, pay parity for employees performing the same work, and enforceable wages and conditions secured through a collective agreement," ETU said in a statement. The vote follows months of limited industrial action, including overtime bans, and comes after more than a year of unsuccessful negotiations with BHP, the union said. The ETU represents more than 70 000 electricians, apprentices and electrical workers around Australia, according to its website. "With further bargaining meetings scheduled for Port Operations next Tuesday involving the Fair Work Commission as an independent facilitator, and high voltage workers next Thursday, our focus remains on making constructive progress towards fair and reasonable agreements," BHP told Reuters in an email. The miner said the involvement of the workplace tribunal, the Fair Work Commission, was "the most constructive way to achieve the best outcome". Hundreds of workers at BHP's Port Hedland iron-ore operations held an eight-hour strike on Thursday after the parties failed to reach an agreement on terms for a four-year labour deal. Port Hedland is a major artery through which BHP routes around $80-million of iron-ore a day, and the action represents the largest at BHP's operations in at least three decades, as unions look to secure a toehold in Australia's iron-ore regions.

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. Chrome is a growing value contributor to the revenue base of Sibanye-Stillwater's South Africa platinum group metals (PGM) portfolio, delivering margins, resilience and project support. Chrome has also been a stable income generator for Sibanye-Stillwater during periods of low PGMs pricing. (Also watch attached Creamer Media video.) In 2025, chrome contributed 8% of the revenue of Sibanye-Stillwater's South Africa PGM operations and it has been an enabler of project feasibilities and an extender of the life of tailings facilities. "We're on the path to be a chrome producer to be reckoned with. We currently do 10% of South Africa's chrome production, 5% worldwide. If we achieve the chrome growth that is projected, we will exceed that 10% by quite a significant amount," Sibanye-Stillwater VP chrome and base metals Babsie Crane commented during Sibanye-Stillwater's Capital Markets Day covered by Mining Weekly. The chrome management agreement that Sibanye-Stillwater signed with Glencore Merafe Chrome Venture in 2025 repositions the commercial terms of legacy contracts and attracts considerable value earlier. The agreement creates an opportunity to join technology forces as it relates to fine chrome along with operational synergies through the combined asset footprint, taking in infrastructure, laboratory training, research and development capability, as well as processing capacity. In addition, chrome recovery infrastructure maximises value from upper group two (UG2) tailings. Sibanye-Stillwater owns six of the 12 chrome recovery plants on its footprint and Glencore five, making way for synergies to be unlocked. Expansion plans are pointing to a 75% increase in chrome volumes, which will enhance Sibanye's domestic and global market positions and attract market-related prices, for both surface as well as underground. From a chrome production level of one million tons of chrome a year in 2016, the company is expected to produce chrome at a rate of 2.3-million tons a year until 2033. Major global chrome producers are South Africa, Zimbabwe, Kazakhstan, India, and Turkey. South Africa's production this year of 26-million tons is going to be roughly 61% of global supply. Around 13% of this is used in South Africa to produce ferrochrome, and the rest is exported largely to China and Indonesia, which lead demand growth. Around 95% of chrome ore is used in ferrochrome production, which then goes into stainless steels and alloys, with the remainder used in various specialty applications such as chemicals for leather tanning, foundry sands and refractories. This year the market is expected to be fairly finely balanced. Supply is expected to grow by about 5.8% year-on-year to meet the 44-million tons of demand. "It's a very fragile balance and as you look out to 2034, the deficit is growing substantially," Sibanye-Stillwater executive VP sales and marketing Kleantha Pillay pointed out. The current spot price for South African chrome ore of 40% to 42% concentrate is about $295/t taking in cost, insurance and freight to China. For higher 42% to 44% concentrate grades, the price ranges from $310/t to $320/t. Interestingly, the production cost for UG2 byproduct chrome ore is around 60% of primary chrome production in South Africa.

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. Global diversified miner BHP produced nearly two-million tonnes of copper and record iron-ore production for the financial year ended June 30, but has substantially lowered its copper production guidance for the 2027 financial year, mainly as a result of a decline in grades at the Escondida mine, in Chile. The company's copper mines produced 1.95-million tonnes in the 2026 financial year, in line with guidance of 1.9-million to two-million tonnes. Iron-ore output, meanwhile, increased by 1% year-on-year to a record 265-million tonnes, in line with guidance of 258-million to 269-million tonnes. "We finished the year strongly, delivering safe and reliable operations while setting several performance records across the business. "For the second consecutive year, we produced around two-million tonnes of copper and delivered record iron-ore production, demonstrating the power of a disciplined operating system and world-class assets. "We achieved this against a backdrop of stronger realised prices for both copper and iron-ore, with copper prices around 35% higher than a year ago. Cost control was particularly strong, with every asset expected to be within unit cost guidance despite headwinds from inflation, higher diesel prices and global supply chain disruptions," says CEO Brandon Craig. He adds that the group is also continuing to build the next phase of growth. During the year under review, it progressed applications to restart Cerro Colorado, in Chile, defined development pathways for Copper South Australia, Escondida and Spence, and expanded its future copper options in the US through progress at Resolution and its investment in Faraday, while Vicuña, in Argentina, received Incentive Regime for Large Investments approval. "In Canada, Jansen is on track to begin potash production next year, adding a new commodity and further diversifying our portfolio. "We enter the new year with momentum and significant opportunities to accelerate improvements in safety, productivity and reliability through our operating system and the adoption of technology," Craig comments. COPPER BHP has set its copper guidance for the 2027 financial year at between 1.65-million and 1.8-million tonnes – a year-on-year decrease of about 15%. For the year ended June 30, the Escondida mine produced 1.26-million tonnes of copper, a 3% year-on-year decline as a result of a planned lower concentrator feed grade of 0.90%, compared with 1.02% the year before. Concentrator feed grade for the 2027 financial year is expected to be about 0.70% and Escondida is expected to produce between one-million and 1.1-million tonnes of copper for the financial year. Meanwhile, BHP's Pampa Norte operations, which include the Spence and Cerro Colorado mines, produced 213 000 t of copper for the 2026 financial year – a 21% year-on-year decrease. Output at the Spence mine decreased as a result of ongoing challenges with processing complex ore at the concentrator and the planned decline in stacked feed grade at the cathode plant. The Spence Concentrator Upgrade Recovery project, which upgrades the flotation circuit to increase residence time and improve recoveries, was sanctioned in June, with first production expected during the 2028 financial year. "Once commissioned, we expect the project will allow us to more effectively manage Spence's ore complexity and variability," BHP reports. The group in June also sanctioned the Spence Chalcopyrite Leaching project, which will include the implementation of BHP's sulphide leaching technology, Simple Approach to Leaching 2, to enable processing of hypogene ores and to use latent capacity in the cathode infrastructure. First production expected in the 2028 calendar year. Spence is expected to produce between 21...

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 new elusion circuit and smelt house facility at DRDGOLD's Far West Gold Recoveries is performing to specification. "The initial capital estimate was met, and we came in on time and within budget," DRDGOLD CEO Niël Pretorius reported during a webinar in which DRDGOLD CFO Henriette Hooijer and DRDGOLD COO Jaco Schoeman also participated to provide an update on the progress of Vision 2028, DRDGOLD's five-project programme involving a capital expenditure of R10-billion. (Also watch attached Creamer Media video.) The new facility was commissioned on Tuesday, July 14, when the first doré gold bar was poured. A doré bar is a semi-pure, unrefined alloy of gold produced directly at a mine site. Once fully ramped up, the new facility will increase monthly plant throughput to 1.2-million tons a month and contribute 16 years of mine life at that rate. Over the next few weeks – and in the months to follow before the rest of the Far West Gold Recoveries infrastructure is commissioned – the plan is to commence material processing and treating material at the new carbon-in-leach circuit, while concurrently conducting a full service of the existing circuit that has been in operation since 2018. Up to now, Far West Gold Recoveries personnel have had to send away their output without ever seeing its conversion to gold. But all that changed this week when a beaming plant manager held aloft gold what weighed just over 17 kg – and the appreciative workforce witnessed end product being produced before their eyes. "It was a good event for us," an upbeat Pretorius remarked during the webinar covered by Mining Weekly. After the smelt, the gold bar was whisked away by helicopter, roughly four minutes after the above picture was taken, which is the nature of the gold transportation logistics being deployed. The helipad next to the smelt house is also fully walled, which means that security, logistics and the flow of material played a big part in the facility's design and construction. Four years ago, DRDGOLD, as part of its ongoing commitment to optimising its portfolio of assets, initiated a capital investment programme aimed at structurally reconfiguring the cost provide of the cost profile of Ergo, the gold-from-waste operation on Gauteng's East Rand, and developing the infrastructure required to extend its life of mine, while increasing both throughput and production capacity. It was a two-part programme, the first involving the construction of a 60 MW solar plant and a 187 MWh battery energy storage system (BESS) at Ergo. Construction started in financial year (FY) 2022 and the project was commissioned in FY 2025. This investment has fundamentally reset Ergo's cost profile, strengthening energy security, reducing its carbon footprint, and demonstrating how investment in strategic infrastructure can improve both operational resilience and financial performance. Currently, the solar and BESS plant supplies around 47% of Ergo's electricity requirements for around 12 hours a day. The second part, the R10-billion capital infrastructure investment programme involving the five projects, was aimed at establishing tailings storage and plant throughput capacity capable of lifting combined throughput from the company's two operations, Ergo and Far West Gold Recoveries from around 2.15-million tonnes a month to three-million tonnes a month and grow annual gold production to six tonnes by 2028, the programme dubbed Vision 2028, on which construction started in FY 2024. Now, that vision is being realised with its first major milestone being the resumption of deposition on to the Daggafontein tailings storage facility (TSF). On June 25, water was first pumped to the facility and the first deposition of tailings followed on Jul...

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. Diversified miner Rio Tinto posted better-than-expected second-quarter iron-ore sales on Wednesday, supported by strong operational performance, though it will need a stronger second half to meet its yearly targets. The miner also said higher fuel costs stemming from the US-Israeli conflict with Iran had raised current costs and would continue to affect full-year results, while keeping its 2026 Pilbara iron-ore unit cash cost outlook unchanged. Shares jumped as much as 2.8% to a one-week high, outperforming the mining sub-index, which was last up nearly 2%. Rio Tinto, the world's largest iron-ore producer, sold 85.3-million tons of the steel-making commodity from its Pilbara operations in the three-month period ended June 30, ahead of the Visible Alpha consensus estimate of 83.6-million tons. That compared with 79.9-million tons of iron-ore sold in the same quarter last year. First-half sales came in at 157.7-million tons, 5% higher than last year, leaving Rio Tinto on the hook for a stronger second half to hit its 2026 forecast of between 323-million and 338-million tons. "Higher energy costs have lifted the global iron ore cost curve, particularly for marginal suppliers with greater exposure to diesel prices," the company said. Average pricing in the first half at its Pilbara operations improved to $85.2 per wet metric ton (wmt) on a free-on-board basis from $83.2 per wmt last year. Operational impact from the Middle East conflict remains limited, with no material disruption to production or outbound supply chains across its core commodities, Rio Tinto said. The miner added that it was monitoring conditions in the critical Strait of Hormuz and also maintaining contingency plans to address potential escalation or further disruption to global energy or logistics markets. While year-on-year iron-ore production held steady in the second quarter, Rio's output fell 7% sequentially from the March quarter. QUARTERLY COPPER PRODUCTION DROPS Overall copper production fell 7% in the June quarter to 213 00 t, behind the Visible Alpha consensus estimate of 214 700 t owing to lower production at Rio's Kennecott and Escondida mining operations. A furnace outage at the Kennecott mine in the US in late June is anticipated to affect copper and gold production in the second half. Concentrate production at the Chilean Escondida operations declined 13% on lower grades. Separately, the miner reduced its 2026 copper C1 net unit cost forecast to between 30 and 50 US cents per pound from 65 to 75 US cents a pound owing to higher-than-expected gold prices and productivity improvements.

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. South Africa's national mineral research organisation Mintek is targeting global recognition as a minerals flotation researcher, the State-owned organisation emphasised at its recent platinum group metals (PGM) event. Mintek's flotation group is viewed as being well positioned to expand its impact through several strategic opportunities, which range from sustainable mining to industrial support and the circular economy. "We're aiming to become a globally recognised centre of excellence in flotation research through technology partnership and industrial implementation," Mintek post-doctoral research fellow Dr Mandla Chabalala declared at the PGM Industry Day. (Also watch attached Creamer Media video.) Mintek makes no bones about its aspiration to become a world-class scientific research organisation with practical industrial solutions that support safer, more efficient and environmentally sustainable minerals processing. In partnership with various stakeholders, it is looking into expanding its global footprint as well as its standing as a global minerals and metallurgical innovation leader. Chabalala, who was one of one of a dozen Mintek managers, engineers and scientists who presented in the auditorium of this 92-year-old State-owned research organisation situated at 200 Malibongwe Drive in Randburg, said: "I'm available for technical discussions around how we can work together and become of service to you." His group falls under Mintek's minerals processing division: "We're a team of about 14 to 15, but given the work we do, you'd think we numbered about 100. "We see ourselves as laboratory pilot and plant scale flotation experts. We specialise in process development and optimisation, and we strive to excel in technology implementation and troubleshooting. "Our core capabilities lie in the space of process development and scale up, where we start from the bottom and see you all the way up to your processing in the plant. "We also look at reagent synthesis and engineering, where we can develop new reagents or look at what's currently being used and then modify it, depending on what you're looking for in the ore type that we're treating," Chabalala outlined during his end-to-end flotation solution presentation that extended beyond PGMs into the likes of copper flotation and rare earth elements. Pursuits include: circuit development and optimisation to maximise efficiency and improve strategies;plant support, industrial applications and coming on site to do audits, identify problems, and propose solutions; anddata modelling and digital analysis, a recent assignment proving to be "quite useful". What can one expect when engaging Mintek on flotation? Outlined was baseline laboratory test work informing process design as well as implementation around concentrate grade optimisation. "We don't just do lab work and leave it there. We go all the way up to saying let's upscale and see what we can get and what we need to adjust to maximise efficiency and recoveries when we go to the plant," Chabalala explained during the presentation covered by Mining Weekly. Current projects go beyond PGMs into copper flotation and even the effect of microorganisms, living things so small that they can only be seen with a microscope. "We know that microbes can be used for beneficiation and we want to see how we can use microbes to assist our flotation efficiencies and then also to look into contaminated PGMs such as spillages, or other contaminants in the plant." Treating tailings and mine waste, rare earth elements, and the circular economy are on the wanted list of Mintek, which goes beyond working with the mining industry alone. "We have a wide range of partners, which include universities and research institutions,...

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. Northern Minerals said on Tuesday that Australian Treasurer Jim Chalmers has ordered three offshore investment firms, including Hong Kong Ying Tak, to refrain from exercising their voting rights in the rare earths developer. Australia's Foreign Investment Review Board (FIRB) said Hong Kong Ying Tak, British Virgin Islands-registered Real International Resources, and Hong Kong-registered Qogir Trading & Service failed to comply with earlier government orders to reduce their stakes in Northern Minerals. In May, Treasurer Chalmers ordered six offshore shareholders to divest their holdings by July 2 over concerns that Chinese-linked parties were seeking control of the rare earths miner. Reuters was unable to contact Ying Tak, which has no phone number or email listed on Hong Kong's companies registry, for comment. "Northern Minerals welcomes the Federal Treasurer's interim directions regarding compliance with his May Disposal Orders," Northern Minerals chairperson Adam Handley said on Tuesday. Handley said a review of Northern Minerals' share register on July 10 found that most of the shares covered by the May divestment orders were still held by the investors targeted by those orders.

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. Remaining project capital of R964-milion of the total of R4.4-billion in real 2026 terms is to be spent this year and next on Sibanye-Stillwater's K4 platinum group metals (PGMs) project at Marikana in South Africa's North West Province. The project is on track for steady state production in 2033 and has a 48-year economic life, which bodes well for the community of the Rustenburg municipal area in particular. (Also watch attached Creamer Media video.) Ramp-up of production at K4 began in the second quarter of 2022 and the operation is expected to employ 4 380 people when it reaches steady state. Already 77% complete, K4 has a net present value of R17.6-billion and is described as "a high-return project" underpinned by extensive existing infrastructure. Monthly rock break is projected to be at a rate of 39 000 m2/m and monthly reef hoisting 190 000 t/m, which equates at steady state to 21 000 four element (4E) ounces a month and 250 000 oz a year. The reef mix of 55% Merensky and 45% upper group two is described as being key for the smelting strategy within Sibanye-Stillwater's PGM segment. This was spelt out by Sibanye-Stillwater EVP mining operations Dawie van Aswegen, in his overview of the Johannesburg stock Exchange-listed company's South Africa PGM operations, which stretches from the town of Brits to the town of Rustenburg, in the lower section of the western limb of the PGM-rich Igneous Bushveld Complex. Sibanye-Stillwater commenced its PGM business in mid-2016, when it acquired Aquarius Platinum. Later that same year, it acquired the Rustenburg platinum mines from the then Anglo American Platinum, which is now Valterra Platinum. K4 was acquired from Lonmin in 2019 and that acquisition marked the conclusion of Sibanye-Stillwater's South Africa PGM acquisition strategy. "The orebody is homogeneous, so what that means is that it stretches all 70 km from east to west, and it's got a constant of dip of nine degrees from south to north," Van Aswegen explained during his presentation covered by Mining Weekly. Sibanye-Stillwater's underground PGM business consists of six trackless mechanised operations and eight conventional operations, with 44 000 people employed it total, own employees as well as contractor employees. From inception, the PGM operations have met annual guidance. Owing to a closure at Marikana and a shaft reaching end of its life at Kroondal, slight production reductions have been recorded but "this was partly countered by the gradual buildup of our K4 operations at our Marikana operations", Van Aswegen pointed out. Optimisation, restructuring, and a simple operating model resulted in a right-sized PGM segment, added Van Aswegen, who described operating cost per 6E ounce as being comparable to "the lowest of our peers". Increased stay-in-business (SIB) capital spend per 6E ounce is also said to rank below two of peers. On average, for the last couple of years, in the region of R4.5-billion had been spent on ore reserve development (ORD) and SIB capital requirements, with continuous ORD being under way at conventional shafts and SIB per 6E ounce comparing well with peers since 2023. However, a primary mining profile in steady decline – excluding projects – was displayed on the screen. "If we look at our primary mining outlook, there's a drop in profile but also very important to note is that this excludes our East 4, Siphumelele and Thembelani projects," Van Aswegan pointed out. But despite the declining profile, the cost forecast would remain competitive, with all-in sustaining costs benefiting from by-product credits that include chrome. In general, the SIB capital spending involves 9% of total operating cost for trackless mobile machinery operations, and 7% for conventional...

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. A new, Beijing-backed mining investment vehicle is aimed at bolstering China's grip on overseas resources, as the country pushes back against US and European efforts to curb its dominance of the mineral supply chain. Chinese companies have been aggressive buyers and builders of overseas mining assets for more than a decade, with a few champions leading the way. At a time when Western rivals were under shareholder pressure to cut spending, firms from the world's top metals consumer expanded in Congo's copper and cobalt production, took stakes in key iron-ore projects and transformed Indonesia's nickel industry. But fresh challenges — including more demanding producer nations and rising geopolitical tensions — have prompted Beijing to increase the number of tools at its disposal when it comes to managing strategic supply chains, according to people familiar with the matter. Guangyan International Investment Company will be part of a broader effort led by the National Development and Reform Commission (NDRC), which oversees economic planning, the people said. The relatively new company will be used to provide support ranging from direct equity investment to advice on compliance, risk-management and market conditions. China is seeking to standardize its process for international metals deals to improve oversight of proceedings, the people said, asking not to be identified given the sensitive nature of discussions. Miners will also be encouraged to manage their risk by bringing in other partners, rather than taking full ownership of projects, especially as costs rise and political challenges become more complex. Guangyan, which also uses the English name Vast Rock International Investment, does not appear to sit within the upper ranks of Chinese political hierarchy — but it fits neatly with Beijing's efforts to increase control over its supply chain. In the iron-ore industry, China Mineral Resources Group has already been working to tighten the country's control of purchasing and to increase the steel sector's bargaining power. NDRC did not immediately respond to faxed queries. Guangyan did not respond to telephone calls and questions sent to its registered email address. China has been a major investor in overseas resources for since the early 2000s, taking large bets on vital minerals, including in jurisdictions where most Western mining giants have been reluctant to buy, from Tajikistan to the Democratic Republic of Congo. The spree, combined with heavy investment in processing at home, helped create an unparalleled grip on the mineral supply chain. Over the last two decades, Chinese companies have spent over $100-billion in strategic outbound merger and acquisition deals in the mining sector, according to Bain & Co, with copper, iron-ore and gold assets among the most sought after. But increasingly, deals have become fraught. Minerals have become a flashpoint in global geopolitics, as supply chain shocks and an increased awareness of China's dominance pushes countries to respond with investment and industrial policies of their own. The US has been seeking allies to build an alternative supply chain from China, including by concluding partnerships with Congo to grant US investors preferential access to the African nation's metal deposits of copper, cobalt, lithium and tantalum. The European Union, and countries including Japan, are trying to catch up too. Producer nations have also begun demanding more from natural resources companies, eager to create higher-value jobs and more tax revenue. Congo began export controls on cobalt last year. Guinea, the world's biggest bauxite producer, has discussed plans to limit shipments of the material used to make alumina. The country also wants the companies...

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. Platinum has received a major boost from a strategic agreement signed at Shanghai Platinum Week 2026 at a time of rapid expansion of China's platinum bar and coin market. The boost is the result of Beijing's Caibai signing a strategic agreement with the World Platinum Investment Council (WPIC). The agreement involves the introduction of the first-ever platinum investment bar series to be stocked by Caibai, a time-honoured gold bar and coin retailer, which turns 50 this year. With immediate effect, a series of seven 30 g platinum investment bars have hit the market "The growing interest in platinum as an investment product presents an exciting opportunity for us, and we have added the first platinum investment bar series to our range to give our customers more choice and enable them to access this market. We believe that there is significant development potential for platinum investment," Caibai GM Caigang Ning stated. "Our partnership with Caibai supports WPIC's broader strategy of expanding platinum investment demand by improving retail accessibility. Caibai's strong reputation and high footfall provide a compelling platform to introduce platinum to an even wider base of Chinese investors," WPIC Asia Pacific regional head Weibin Deng added in the release to Mining Weekly. Caibai's dual role as jewellery retailer and bullion distributor reflects a distinctive feature of Asian precious metals markets, where jewellery has long held a quasi-investment function. High-purity pieces are commonly purchased as both adornment and a store of value, with pricing often closely linked to underlying metal prices. This has led to a high degree of interchangeability between jewellery and investment products, making it common for retailers to offer both. Consumers frequently make jewellery purchases with the expectation that the items can be resold or exchanged based on metal content, reinforcing precious metals as a trusted investment vehicle. The addition of platinum bars to Caibai's range is therefore a natural progression, positioning the metal within an already well-established retail investment framework. It also comes at a time of rapid expansion in China's platinum bar and coin market, which has grown from negligible levels in 2018 to an estimated 404 000 oz in 2025. Meanwhile, industry leaders from across the global platinum group metals (PGM) value chain are engaging in Shanghai on the opportunities and challenges shaping the sector. Other takeaways from the Shanghai Platinum Week are the manner in which AI is driving PGM demand through printed circuit board demand growth. Much of the expenditure in optical crystal production centres on platinum and iridium needed for the crucibles to grow the crystals. Fibreglass production has grown from 5.8-million tons in 2021 to 8.13-million tons in 2025 in China alone, with exports having doubled to 1.95-million tons. Production capacity for low dielectric constant/low loss yarn made using PGM bushings needs to be expanded. China's platinum and palladium markets have developed following the launch of futures and options contracts on the Guangzhou Futures Exchange (GFEX), which was launched after last year's Shanghai Platinum Week. GFEX is said to have contributed to improved price discovery, with platinum open interest averaging around 620 000 oz and average daily trading volumes of 186 000 oz. A key potential milestone will be qualified foreign Investor approval. If granted, this could allow broader international participation and make the natural arbitrage between GFEX and global exchanges more accessible.

Mining Weekly Editor Martin Creamer discusses the growing activity in copper exploration and mining in the Northern Cape; Mintek's plans to add value to the South African platinum group metals (PGMs) sector; and Sibanye-Stillwater's growing PGM project portfolio in South Africa.

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. ASX-listed Prairie Lithium has taken delivery of North America's largest commercial direct lithium extraction (DLE) unit comprising four columns at its Prairie project, in Saskatchewan, marking another milestone as the company advances toward Phase 1 commercial lithium production. The arrival of the DLE unit represents a derisking event and enables the next phase of equipment installation and commissioning, which remains on track for the fourth quarter of the year. Prairie has already established substantial infrastructure on site, including production and disposal wells, electrical infrastructure and a power transformer. The DLE unit is about four times larger than the commercial DLE system currently deployed at Standard Lithium's Arkansas project, where a single column was installed in March 2024 and is achieving industry-leading results. "This milestone demonstrates the scale of Prairie's Phase 1 development and our ambition to become a leading commercial DLE producer in North America," says chairperson Paul Lloyd. Lithium produced from Phase 1 operations is already secured under a binding offtake agreement with Hydro Lithium, which will purchase 100% of production.

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Successful removal of coarse waste is beneficial in that it reduces power requirements in the milling circuit, lowers water requirements, and increases platinum group metal (PGM) feed grades. With preconcentration, a head grade of, for example, 2 g/t can be as much as doubled to 4 g/t, resulting in PGMs being valuably increased in the circuit. Displayed was a PGM grade of 1.7 g/t being uplifted to 4.8 g/t through dense medium separation (DMS), at a flotation loss of around 0.4 g/t. Mining benefits include being able to lower the cutoff grade, which increases the reserves and provides the opportunity to extend the life of the mine, Mintek physical separation head Gertrude Marape pointed out during Mintek's PGM Day covered by Mining Weekly. (Also watch attached Creamer Media video.) Mintek flexibly provides clients with options. "Some clients already know the techniques, the technology that they want to use. Some ask us to advise, but essentially, we work with everyone," Marape stated in providing comprehensive information on the benefits of upfront waste rejection and chrome removal in PGM circuits. Marape was one of a dozen Mintek managers, engineers and scientists who presented in the auditorium of this 92-year-old State-owned research organisation, which is situated at 200 Malibongwe Drive in Randburg. While typical PGM reefs are Merensky, upper group two (UG2) and Platreef, Marape also paid attention to the PGMs present in chrome reefs such as lower group (LG) reef, middle group (MG) reef and, of course, UG2 reef. Mintek has found that it is easier to introduce a preconcentration stage on a greenfield project than it is at a brownfield project. As much as some brownfield projects were metallurgically suitable, practical implementation has generally been found to be inappropriate. Information was provided on the recovery of PGMs from the tailings of chrome-rich MG and LG reefs as well as UG2. In the work that Mintek has done, PGMs lost in the chromite concentrate ranged from 0.7 g/t to 0.8 g/t. Displayed was also significant enhancing of chrome recovery from secondary flotation. Mintek's studies show that upfront preconcentration is viable but mineralogy dependent. Sometimes it works, sometimes it doesn't work, but if it works, there's value in it, because then it reduces capital expenditure and operational expenditure of plants, lowers cutoff grade and also provides flexibility in the cases of PGM extraction being amenable to mechanised or conventional mining methods, Marape noted. Moreover, Mintek's experience regarding interstage chrome removal is that it provides better yields and higher chrome recovery but that this will be accompanied by some loss of PGMs to chromite concentrate. In addition, PGMs and chrome are recoverable from MG, LG and UG2 reefs, which uplifts revenue potential. PGMs come mainly from the Bushveld Igneous Complex's three limbs – the western, eastern, and northern limbs. While typical reefs are Merensky, UG2 and Platreef, there are also PGMs in chrome reefs such as LG reef and MG reef. While LG and MG reefs are initially mined mainly for their chrome, PGMs are there for the taking in LG and MG tailings. Displayed were infographics showing typical upfront coarse waste rejection, done after crushing and before milling. Most of the reefs have a lot of pyroxenite gangue in them and the rejection of this coarse waste in them can be through DMS or through sorting – dry on-site processing – depending on which is more beneficial and with greater throughput also being taken into consideration. Mintek used to provide on-site sorters but now has partnerships with various sorting companies and can link clients to these suppliers. The purpose of coarse waste rejection is to rejec...

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. ASX-listed Viridis Mining & Minerals has upgraded the mineral resource estimate (MRE) of its Colossus rare earths project, in Brazil, following targeted infill drilling. The measured and indicated MRE of the project is now an industry-leading 305-million tonnes grading 2 723 parts per million (ppm) of total rare earth oxides (TREO) and 659 ppm of TREO, respectively. Notably, the programme identified a measured mineral resource of 31-million tonnes grading 2 858 ppm TREO and 758 ppm mixed rare earth oxides (MREO), providing the company with a high-confidence resource foundation for the highest-value years of planned production supported by outstanding project economics, strong early cash flows and rapid capital payback. Viridis reports the Colossus mineral resource totals 473-million tonnes grading 2 505 ppm TREO and 592 ppm MREO. High value magnet rare earths continue to comprise 24% of the TREO within the measured and indicated resource. Viridis says the substantial measured mineral resource supports an anticipated conversion of the initial production schedule to proven ore reserves as part of the project's definitive feasibility study. This satisfies a key requirement for project debt financing and represents a major step towards a final investment decision on the project during the second half of the year. "The Colossus project continues to set the global benchmark for ionic adsorption clay rare earth developments through its combination of world's highest-grade measured and indicated MREO mineral resource, industry-leading measured resource grade supporting the early years of planned production, proven reserve conversion pathway supported by exceptional geological confidence, industry-leading metallurgical recoveries using a near-neutral pH leach process and significant potential for further resource growth," explains Viridis MD Rafael Moreno. Moreno mentions that the current MRE covers only 12% of Viridis' landholding, however, Colossus already hosts almost half a billion tonnes of mineralisation and the world's highest-grade measured and indicated MREO resource. "This is not just a geological milestone, it is a financing milestone. Defining more than five years of measured resources for the initial mine plan satisfies a key technical requirement for project debt financing," Moreno says.

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. A lower-risk secondary mining business, which focuses on extracting value from platinum group metals (PGM) surface waste that hosts chrome, is being built by the South Africa PGM Operations of Sibanye-Stillwater. The opportunity lies in unlocking PGM and chrome value from the large, accessible upper group two (UG2) tailings resources on surface. UG2 tailings retreatment, fine chrome recovery and processing capability are creating a new value stream. The first part of the surface processing strategy – Phase 1 of the WLTR recovery plant upgrade project – has already arrived. This phase, which involves treating tailings to recover chrome as well as PGMs, supports the broader South Africa PGM Operations surface retreatment strategy. The feasibility study has been completed, board approval has been received, and construction is scheduled to begin in the second half of this year, with commissioning expected by the end of 2027, Sibanye-Stillwater executive VP processing Lucas Msimanga reported during the Capital Day covered by Mining Weekly. (Also watch attached Creamer Media video.) The projected capital is R0.9-billion, payback is two years, Phase 1's economic life is six years, net present value is R1-billion, internal rate of return is 43%, and operating costs were described by an upbeat Msimanga as being "very competitive". Historical UG2 tailings storage facilities (TSFs) across the Rustenburg and Marikana regions provide the material, the primary value driver is chrome coupled to meaningful PGM upside, and available PGM concentrator capacity offers the capability of recovering PGMs in an integrated and efficient manner. With a switch to magnetic processing technologies, the surface resources also present a significant chrome recovery opportunity. A million tons of historic UG2 tailings are there for the taking and Sibanye-Stillwater has vast processing and tailings infrastructure spread across 70 km of PGM footprint to handle current and future mining output. The Johannesburg Stock Exchange- and New York Stock Exchange-listed mining and marketing company's vast footprint takes in Marikana as well as the Rustenburg region, and within the footprint are concentrators for primary processing of the material from the underground operations. Capacity is adequate to process the current and future projects. Total available concentrate capacity across Sibanye-Stillwater's South Africa PGM operations is 1 605 000 t a month. All of this is linked to long-term TSFs. The life of the Paardekraal TSF in Rustenburg extends to 2060, as does the Marikana Pits TSF and Hoedspruit in Marikana extends to 2044. "We've got the capacity to dispose of those tailings safely, as well as in an environment-friendly manner. "When processing, we continuously seek to improve recoveries. We're benchmarking internally as well as externally, and we want to raise recoveries as high as possible," Msimanga pointed out. Standout 36% recovery is being achieved by the WTD5, Hoedspruit and Marikana Pits TSFs, with recoveries from the other TSFs ranging from 11% to 17%. "Our objective is to get close as possible to the 36%, which will be done by optimisation of the TSF operations and the deployment of the right technology," said Msimanga, who drew attention to the focus of Sibanye-Stillwater's seven relatively shallow primary adjoining mining projects also being largely on UG2 reef, which, provided the company continues to invest appropriately across concentrators, supports operational reliability. Targeted sustaining capital has maintained high equipment availability and recovery performance. This approach supports structurally lower unit costs. The result is a flexible processing platform that supports processing requirements of curren...

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. Hundreds of workers at BHP's Port Hedland iron-ore operations in Western Australia could walk off the job next week, in what would mark the biggest industrial action there in decades, potentially disrupting $80-million of daily revenue for BHP. The unions have called for the action, an eight-hour work stoppage set for July 16, after six months of negotiations that have failed to reach an agreement on terms for a four-year labour deal. The action is set to run from 2 pm to 10 pm (06:00 to 14:00 GMT). Some 160 to 200 employees of the 450 workers who cover BHP's port and maintenance operations will walk off the job, according to the Combined Ports Unions, which represents four unions active at the site. "This is nobody's preferred way forward, but when it is our only way forward, we will take it," said Adam Woodage, the secretary of the Electrical Trade Union Western Australia. "I hope this sharpens the minds of BHP managers - and shareholders - on the importance of negotiating for a fair, safe and productive iron ore industry." Union officials said a meeting with BHP was slated for Tuesday that could avert the stoppage. The action comes after workers at some of BHP's other operations in the Pilbara region where Port Hedland is located narrowly voted last week to approve a new labour agreement. "We have delivered a new enterprise agreement at Mining Area C and South Flank that rewards 1 800 workers -- without industrial action," BHP said in a statement on Wednesday. "Every Australian benefits from a strong iron ore sector. We are eager to keep negotiating constructively for a fair deal, while making sure we can keep operations running safely." BHP shares fell 2.9% on the day to A$57.19 ($39.70), slightly outpacing losses among other miners and compared to a 0.5% decline for Australia's benchmark stock index. Unions are making the biggest push in 30 years to penetrate Australia's mining heartland, emboldened by a Labor government law in 2022 giving them the power to negotiate wage deals that cover several employers, allow more scope to request flexible arrangements and industry-wide strikes. The South Flank agreement last week included a guaranteed 16% pay hike over its four-year term, increases to site-based allowances and a new payment scheme for delayed flights. "We think the South Flank deal is undercooked, for the work that they do away from their family and for the conditions," Steve McCartney, State secretary of the Australian Manufacturing Workers Union, told reporters. "Sixteen percent over four years is not enough." Mining workers are among Australia's best paid. Resources workers living in the Pilbara earned A$191 000 on average in 2023/24, according to a survey by industry group the Chamber of Minerals and Energy. Australia's median wage for registered nurses is A$85 000 to A$100 000 according to industry bodies and the median wage is A$75 000 a year, according to government figures. Port Hedland, which is also used by miners Fortescue and Hancock Prospecting, ships around $150-million of iron-ore a day.

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. South Africa's national minerals research organisation Mintek has highlighted the value of conducting bottleneck-exposing comminution circuit surveys at platinum group metals (PGM) processing operations and made it clear that it is at-the-ready to answer all questions relating to peak performance and plant optimisation. The aim of Mintek's comminution circuit surveys is to arrive at advantageous process performance by unlocking hidden opportunities of process improvement in PGM processing plants. (Also watch attached Creamer Media video.) "We'd really like to get some invites to come and conduct surveys," Mintek minerals processing division senior engineer Dr Sandile Nkwanyana enthused during Mintek's PGM Day covered by Mining Weekly. Nkwanyana was one of a dozen Mintek managers, engineers and scientists who presented in the auditorium of this 92-year-old State-owned research organisation, which is situated at 200 Malibongwe Drive in Randburg. Displayed were comminution circuits within the PGM processing space. The first was a mill float two circuit, showing the primary mill and the secondary ball mill. The second comminution circuit was a circuit with a semi autogenous grinding (SAG) mill and the third an autogenous grinding (AG) mill followed by low-grade ball mill circuit. "What I want to stress is that the primary mill, which is either the run-of-mine ball mill, SAG mill, or AG mill, is usually the bottleneck when you're trying to increase throughput in your circuits," Nkwanyana pointed out. Also learnt over the years is that throughput does not respond linearly to parameter changes. Having a signature grind curve was described as being important. Mintek conducts full surveys around the circuit for the purpose of generating a grind curve to provide insight into where peak performance resides. What is shown is the load level that gives the peak in power and going above that load is not necessarily beneficial for the mill. Following the conducting of surveys, Mintek favours mill modelling to gain insight into other performance improvement opportunities around the circuit and to ensure mass balance. The modelling exercise involves the use of in-house coded models as well as the JK Cement modelling platform.

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. Lynas Rare Earths said on Tuesday it has signed a partnership deal with South Korea's JS Link to develop a magnet factory in Malaysia. The Australian rare-earths producer will also supply rare-earth materials to JS Link's magnet factory in South Korea and the planned factory in Malaysia until January 2038. The partnership follows a magnet manufacturing deal between the two companies last year. Under the latest deal, JS Link will establish a magnet factory in Kuantan, Malaysia, with an operating capacity of 3 000 tonnes a year of neodymium-iron-boron (NdFeB) permanent sintered magnets. Lynas said it will invest around A$50-million ($34.78-million) in JS Link shares to support the development of the facility. The produced magnets will supply automotive, wind energy and electronics manufacturing supply chains in key markets including Korea and Malaysia, Lynas added. The company expects the Kuantan magnet factory to create up to 400 new jobs. Meanwhile, Malaysia said on Monday it would review a $96-million rare-earths supply deal signed earlier this year between Lynas, the operator of one of the world's largest rare earths processing plants located in the Southeast Asian country, and the US Department of Defense. The four-year deal has faced protests, with some rights groups accusing Lynas of supplying materials for US-made weapons used by Israel in its war against Hamas in Gaza. Muslim-majority Malaysia has long been supportive of the Palestinian cause and does not have diplomatic ties with Israel.

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. Seven relatively shallow primary adjoining mining projects that focus largely on upper group two (UG2) reef and mainly mechanised mining are at various stages of development within the South African Platinum Group Metals (PGM) portfolio of the Johannesburg Stock Exchange-listed Sibanye-Stillwater. Demonstrated by Sibanye-Stillwater EVP Head of Projects Ralph Lombard was that these projects are higher-margin projects of low capital intensity, with most of them brownfield extensions. (Also watch attached Creamer Media video.) The seven are the Siphumelele and Thembelani extension reserves projects in Rustenburg, the East 4 reserves project at Marikana, the Kopaneng extension resources project at Rustenburg, the East 3 extension resources project at Marikana, the Bathopele extension resources project in Rustenburg, and the Saffy extension resources project at Marikana. All are envisaged for mechanised mining with the exception of Thembelani and all the projects are on contiguous property that is owned by Sibanye-Stillwater. Also listed are two secondary mining PGM recovery surface tailings projects as well as two processing projects, one a PMR upgrade project and the other a smelter project to support blend optimisation. Highlighted was that: integration of mining across contiguous boundaries unlocks additional value;shaft connectivity improves mine planning flexibility and sequencing ; andexisting infrastructure and shared services improve economics, reduce complexity and cut production lead time. Acquisition of 100% of the Kroondal PGM mine and its integration into the Rustenburg operation facilitates optimisation of cross boundary operational synergies and earty value from combined resources, Lombard pointed out in his presentation covered by Mining Weekly. The Siphumelele extension in execution consolidates the Bambanani and Siphumelele operations into a single, mining complex, which allows for the full extraction of the Bambanani reserve. The first blast in May was achieved a month ahead of plan and connection with Bambanani mine is targeted for June 2028. Production is expected from March next year and the planned capital footprint has January 2031 as its scheduled completion date. Value is being generated by eliminating mine boundaries and payback of the R2.8-billion capital expenditure for Siphumelele is expected in seven years. Expected mine life extends to 2039. Net present value is R2-billion, and a 40% internal rate of return is calculated. Mining through the old Kroopdal/Rustenburg boundary unlocks synergies between the operations and establishment of shared services reduces unit costs for both operations. "What's quite exciting is seeing our K4 Marikana project, which in our half-year results will show a positive contribution from this year onwards, which is part of the good news as we keep on developing these projects," Lombard enthused. Because of the mining of the Merensky reef ahead of the UG2 reef, there is significant amount of legacy infrastructure that it is again being utilised, which lowers capital cost. "We're not trying new mining methods. We know quite well how to do mechanised low-profile mining and board-and-pillar mining, and with that also comes the benefit of an experienced workforce, which is one of the other benefits we have by operating in this brownfields environment, which can assist us tremendously as we ramp up these projects, and these crews move down dip," Lombard pointed out. Everything shown was shallow to intermediate depth, with no deep level type of PGM mining being planned at this stage. Key in the Rustenburg/Marikana area are the orebody declines of nine degrees to 13.5 degrees, which allows for a continuation of mechanised mining. "We also have the...

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. Genesis Minerals has lobbed a bid worth about A$5.6-billion ($3.9-billion) for Vault Minerals, topping an existing offer from Regis Resources, as surging gold prices fuel a consolidation wave in Australia's mining sector. The combination would create one of the country's largest gold producers with a market value of A$12.6-billion and an annual production capacity of up to 700 000 oz. Genesis said on Monday it estimates it will bring in some A$2-billion in synergies as its Leonora operations are just 25 km (15.53 miles) from Vault's. This means its higher-grade ore could be milled through Vault's processing plant rather than having to expand its own. Shares of Vault rose as much as 12.3% to A$5.12, their highest since mid-March. Genesis shares fell 8.4% to A$5.76, while the broader benchmark was largely unchanged. Under the proposal, Genesis offered 0.7629 new shares plus A$0.475 in cash for each Vault share, valuing Vault at A$5.274 a share, a 15.7% premium to the stock's last close and nearly 6% above Regis' all-stock bid in May. Vault said it had told Regis of the proposal and given it until Friday to match or improve its offer. Genesis shareholders will own around 59.8% of the combined entity and Vault shareholders the remaining 40.2%. It has also proposed that its expanded board be reconstituted to include three nominees of Vault. Regis said it was considering its position and rights under the scheme. Its shares were last up 5.6%. Last year, Ramelius Resources took over smaller peer Spartan Resources in an A$2.4-billion deal amid a wave of consolidation in the sector driven by rallying gold prices. Activist investor Elliott has also pushed Australia's largest gold producer Northern Star to put itself up for sale, after a prolonged period of underperformance.

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. Being a premier base metals focused business with strong growth potential is the vision for South32 of new CEO Matt Daley. "We've got around 55% production growth over the next handful of years in the commodities that we particularly feel are strongly structurally positioned for really strong years ahead, those being zinc, lead, silver, and copper," said an upbeat Daley who spoke to Mining Weekly after taking over the reins of South32 from outgoing Graham Kerr on July 1. Daley had a hyperactive first day in office amid the company's major aluminium asset disposal announcement as well a copper growth announcement. "Exciting time today and pretty honoured to step into the role of CEO," Daley commented amid Alcoa agreeing to buy South32's aluminium value chain assets for up to $5.6-billion and South32 highlighting its participation in the Sierra Gorda copper growth project in northern Chile. "The strategy for us is really clear, and we've been articulating it today around running what is going to be a premier base metals focused business with really strong growth potential," Daley reiterated. The ASX- , LSE- and JSE-listed South32's targeted 55% base metals uplift involves optimising existing assets and pursuing high-margin developments in tier-one jurisdictions. "We've got a portfolio that spans Australia, South America, North America, with exploration everywhere from Chile to Southern Africa and back to Australia. "With the Alcoa transaction, we crystallise one of those future cash flows from the aluminum value chain right here and now and pick up some of the synergies that exist in the southwest between the neighbouring Alcoa and South32 refineries and position us really well to invest in those growth base metals projects. "My big focus is around strategic planning and operational excellence, and that goes hand in hand with safety performance for me as well. So, excited to step into the role, and I think some great days ahead for the company." Questioned on manganese, Daley clarified that manganese is not an area of growth for South32. What is positive for manganese is that South Africa's Wessels and Mamatwan manganese mines are performing to plan this year but higher diesel prices are impacting movement of material by road. "We're certainly working through some of those challenges and we've had quite a good year on rail again," said Daley, who regularly visited South Africa when working for Anglo American. "I was there almost every month and deeply love the place and the people." Exceptionally high rainfalls and cyclones have dealt a significant blow to South32's manganese operation in Australia's Northern Territory. "The site's really focused on managing water at the moment, which has had an impact on production, and we reguided the market at the end of Q3 around that reduction as a result of the water." On capital investment prospects for manganese, Daley said: "Manganese is not an area of growth for South 32 so we're really investing growth capex into our zinc and copper businesses, so that's kind of the focus, but for us running the manganese business on plan is really important, as well as ensuring it's safe and stable." The combined manganese output from South32's South African and Australian operations was 1.09 million-tons in the March quarter, up from 476 000 t a year earlier. South32's South African manganese mines are found in the manganese rich Kalahari Basin, in the Northern Cape, which is home to 80 %of the world's manganese orebody. Its two mines are part of the Hotazel Manganese Mines consortium, in which it holds a 44.4 % interest. The Wessels mine has vertical and incline shafts and uses the mechanised bord and pillar mining method, while Mamatwan deploys the terrace mining ...

Mining Weekly Editor Martin Creamer discusses South32’s conditional agreement to sell Hillside Aluminium to Alcoa; Sibanye-Stillwater calling for new longer-term platinum group metal applications; and DRDGOLD’s R8-billion internally funded capital programme.

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. TSX-listed Imperial Metals has confirmed it will receive $500-million from the government of Canada to advance the Red Chris mine block cave transition, under the Canada-British Columbia Cooperative Prospectivity Agreement. As the Red Chris joint venture advances through the internal approval process toward a final investment decision, this commitment strengthens the business case for the development of its proposed block cave copper/gold operation. "Our joint venture partner, Newmont Corporation, is in the process of completing a definitive feasibility study for the project. The Red Chris block cave is expected to create more than 1 800 jobs during construction and sustain a total workforce of 1 500 comprising peak-season operational roles," Imperial explains. The project is expected to extend the life of the current Red Chris mine by about 14 years and sets the foundation for decades of potential additional mining. Imperial currently holds 30% of the Red Chris mine, while Newmont holds the balance. "It represents a significant opportunity to create long-term value for Imperial's shareholders, strengthen critical mineral supply chains, and deliver long-term benefits for local communities, Indigenous partners, British Columbia and Canada," Imperial concludes. Newmont in June secured crucial regulatory approvals that pave the way for a transition from openpit mining to a block cave operation.

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. This asset adds scale to our smelting portfolio in a way that is expected to be cash flow accretive immediately, Alcoa Corporation President and CEO William (Bill) F Oplinger said of South Africa's Hillside Aluminium smelting business during a conference call following the NYSE-listed company's announcement of the aluminium-linked assets of the Johannesburg Stock Exchange-listed South32. "We think we're acquiring fantastic long-term assets at a really reasonable price," Oplinger said during question time in reply to Citi Investment Research analyst Alex Hacking. In addition to Hillside and the idled Bayside smelter property in South Africa's KwaZulu-Natal province, Alcoa will acquire South32's interests in the Boddington bauxite mine and the Worsley alumina refinery in Western Australia; and the Mineração Rio do Norte bauxite mine and the Alumar alumina refinery and aluminium smelter in Brazil. In 2025, Hillside generated about $2-billion of revenue and $200-million of earnings before tax depreciation and amortisation, and in the current pricing environment is delivering strong cash generation, Oplinger added during the call covered by Mining Weekly. "Hillside does introduce a new geography for Alcoa, but from a technical standpoint, it uses the same AP 30 smelting technology that we've operated for decades at two of our smelters," Oplinger pointed out. Through Hillside, Alcoa is adding "meaningful volume and cash flow generation" and expanding its Africa footprint. The smelter's production has been stable and predictable over the past five years, which the Pittsburgh-based Alcoa views as an important indicator of operational reliability and downside resilience. In response to Hacking and also to Independent Research analyst John Tomaso regarding Hillside's electricity contract and its duration, Oplinger expressed strong positivity. "The Hillside power contract runs through to 2031 so it's got a strong power contract today. We're confident that we'll be able to repower the Hillside smelter very effectively, and clearly, we'll start working on that towards the end of the decade." In January, Mining Weekly reported that studies being undertaken on Hillside's future power source beyond 2031 have been taking place amid awareness of the different energy levers that can potentially be pulled. The current power agreement is providing useful time to scrutinise power options during a period when various studies encompass the changing nature of the South African electricity transmission grid as well as the prospect of more renewables coming online. As the Southern Hemisphere's largest aluminium smelter and the supplier of a significant percentage of primary aluminium for South Africa's value-adding secondary aluminium product producers, Hillside draws 1 140 MW virtually every minute of the day, every day of the week, every week of the year. Close to a third of Hillside's aluminium, which is produced by 3 650 direct and indirect employees, is sent downstream to businesses that support a further 27 000-plus indirect employment opportunities. Regarding collaboration with South Africa's State-owned power utility Eskom on the post-2031 energy arrangement, a number of different levers are available in an area that also has wind, sun and sea energy potential amid the 'greening' of South Africa's aluminium having considerable potential price benefit. Hillside contributes nearly R10-billion to South Africa's GDP and a public–private effort could ensure that the aluminium produced benefits from the green price premium being paid for aluminium that is not carbon heavy. Alcoa has entered into a definitive agreement to acquire South32 aluminium-linked assets for an upfront consideration of $4.1-billion. The transact...

South Africa-headquartered Harmony Gold Mining Company expects copper to account for 40% of its production within the next decade as the company builds a diversified portfolio designed to capitalise on growing demand for the red metal.

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. Northern Star Resources said on Thursday that Suresh Vadnagra would be its next CEO as it reported preliminary gold sales that met guidance, and as activist investor Elliott reiterated the miner's need for a strategic review. Australia's biggest gold miner was the target of a move in June by Elliott Investment Management, which amassed an over A$1-billion ($690-million) stake and called on Northern Star to immediately restore shareholder value by changing its leadership, citing severe underperformance. Vadnagra, who will take over as CEO effective October 5, is head of Glencore's nickel and zinc industrial assets based in Switzerland. He has more than 25 years of mining experience including with gold miner Newcrest and Hong Kong-listed MMG. Northern Star also said deputy chairperson Michael Ashforth would succeed Michael Chaney as chairperson after the company's AGM in November. Chaney had confirmed in June that the current term would be his last. Elliott noted the leadership changes in a statement and said it remained committed to seeing the company "realize its full potential". "The need for substantial board enhancement and a comprehensive strategic review has not diminished, and we look forward to engaging with Northern Star's new leadership on these topics and delivering the value that shareholders deserve," Elliott said. Northern Star did not have an immediate comment on Elliott's statement. Northern Star released preliminary gold sales at 1.5-million ounces for the year ended in June, meeting revised guidance of more than 1.5-million ounces. The sales figures were 2% higher than consensus, according to figures from broker Ord Minnett. "This is a slight positive (production beat/succession plan) and in combination with overnight gold price movements should see the name move slightly higher," said broker Ord Minnett in a note. Northern Star shares were up 3.3% at A$19.42 by 02:15 GMT on Thursday.

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. In its latest gold appraisal, industry body the World Gold Council says the performance of the gold price in the first half of this year has underscored a sensitivity to shifting macroeconomic conditions, geopolitical risk and investor sentiment, while highlighting the growing influence of global, particularly Asian, demand. In the council's 'Gold Mid-Year Outlook 2026: Point break' report, authors Juan Carlos Artigas, Taylor Burnette and Dr Fergus O'Connor have highlighted that the price of gold soared to record highs in January, crossing above $5 500/oz before dipping to below $4 000/oz in late June. Down roughly 7% since January, gold nonetheless ranks among the top commodity performers over the past year. At current levels, the authors add, the gold price is broadly in line with the global backdrop of moderate growth, with elevated inflation and expectations of further, albeit limited, central bank tightening. Under these conditions, they note that gold will likely stay relatively within range at about 5% but they remark that the stage is set for a possible breakout. On the upside, clear catalysts, including a worsening economy, renewed geopolitical shocks, a shift towards lower interest rate expectations, or a wave of dip buying could reignite gold's momentum and lift it back towards $4 500/oz or above. Meanwhile, the authors also state that enduring central bank demand and policy shifts in key markets such as India are additional "wildcards" that could subtly influence gold's path in the second half of this year. The authors also highlight that the price of gold is currently down by 7% year-to-date, adding that the modest drop could mask a time of drastic changes. Building on last year's positive price momentum, gold set 12 all-time highs, surpassing $5 500/oz in late January amid heightened geopolitical risks and elevated options activity, before falling towards and briefly dipping below $4 000/oz in late June. "The sharp price swing pushed realised volatility to more than 50%, alongside a broader rise in cross-asset volatility at the onset of the US-Iran conflict. Gold's volatility has since come down below 30%, although it remains above its 20-year average of 17%. "Despite the recent price pullback, gold is still one of the best perfroming assets of the last 12 months, with other assets playing catch-up," the authors explain. They also highlight the main drivers of the gold price performance being economic expansion, risk and uncertainty, opportunity cost and momentum. In this regard, the authors explain that economic expansion supports gold jewellery buying, technology demand and long-term savings, risk and uncertainty increases the demand for gold as a hedge and a portfolio diversifier, opportunity cost makes gold more attractive as bond yields or currencies depreciate, and that momentum captures the impact of short term investment flows. However, factors such as the strength of the dollar and interest rates rising beyond the current expectations, investor risk-on sentiment and other technical factors could bring further headwinds for the price of gold. "In this context, our macro-based scenario analysis suggests that gold could resume its upward trend around $4 500/oz, but only a strong, clear signal may push it sustainably towards $5 000/oz," the authors highlight.

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. As a global producer of materials across the aluminium value chain, Alcoa Corporation is well positioned to operate South Africa's Hillside Aluminium business into the future, South32 COO Africa Noel Pillay stated categorically on Wednesday, July 1, when the diversified Johannesburg Stock Exchange-listed mining company South32 announced the signing of a binding conditional agreement to sell Hillside Aluminium to New York-listed Alcoa for up to $5.6-billion. In addition to the Hillside aluminium smelter and the idled Bayside smelter property in South Africa, Alcoa will also acquire South32's interests in Australia's Boddington bauxite mine and the Worsley alumina refinery, as well as the Mineração Rio do Norte bauxite mine and the Alumar alumina refinery and aluminium smelter in Brazil. South Africa's Hillside, Pillay stated, would be operated by "a dedicated aluminium producer", who would bring the benefits of "deep aluminium value chain experience" to the province of KwaZulu-Natal, where it would support local jobs, host communities, and the South African economy as a whole. "We expect this contribution to continue under Alcoa's ownership," added Pillay, who, during Hillside's thirtieth anniversary celebration earlier this year, highlighted Hillside's meaningful contribution to South Africa's social and economic development, as well as the smelter's important role in underpinning South Africa's important value-adding downstream aluminium activity. Interestingly, the transaction strengthens Alcoa's position as a pure-play upstream aluminium company while repositioning South32 as an upstream-focused base metals company that will maintain a South African presence through manganese mining in South Africa's Northern Cape. At the same time, the transaction establishes a far-reaching South African presence for Pittsburgh-headquartered Alcoa, which will benefit from the unlocking of synergistic value. Importantly, in a release to Mining Weekly, Alcoa described itself as an organisation with a deep understanding of the central role it plays within the communities where it operates. Meanwhile, what is crucial at Hillside is the discovery of a viable, low-carbon energy solution from 2031, when the aluminium-price-based electricity contract with South Africa's State-owned electricity utility Eskom expires. What is encouraging is the value that Eskom places on its longstanding partnership with what is the southern hemisphere's largest aluminium business. Moreover, Alcoa president and CEO William F Oplinger highlighted the investment opportunity as one which underscored Alcoa's commitment to supply security and the responsible delivery of a product that was essential to the global economy. Hillside's "high-quality, globally relevant assets", Oplinger added, had a strong strategic fit within Alcoa's portfolio and was directly aligned with Alcoa's pure-play upstream aluminium status. It can be pointed out that part of the Bayside smelter has been recommissioned to take some of the liquid aluminium metal to businesses that have established themselves on Bayside's footprint, entrepreneurship that South32 endorsed, and this forms part of the transaction with Alcoa. The overall transaction is expected to come with immediate cash flow benefits for Alcoa as it absorbs attractive long-term assets at an asking price perceived as reasonable.

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. Premier private research university Massachusetts Institute of Technology's (MIT's) spinout materials recovery and processing startup SiTration has completed a five-week propotype testwork programme with global miner BHP's innovation arm BHP Invent. Together with Copper South Australia as another partner, the parties trialled SiTration's patented processing technology on local copper samples. The testing focused on extracting gold and copper from waste streams. SiTration successfully recovered bullion-grade gold - 99.99% purity gold - from gold-containing streams using a simplified process and also achieved 99.9% purity in copper recovery from residual waste liquids. SiTration's core technology combines uniquely durable silicon filtration and electro-extraction stages to enable profitable and sustainable recovery of critical minerals such as copper, cobalt, nickel, rare earths and other precious metals. The company's technology can replace traditional resource-intensive mining processes and can be deployed to recover materials from traditionally inaccessible sources, including waste. SiTration is quickly scaling up its now validated technology, while working with global mining leaders to deploy pilot systems. "SiTration's successful demonstration signifies a significant breakthrough in mining innovation, pioneering efficient and low-cost electro-extraction technology to recover minerals from waste and processing streams. SiTration's silicon-based electrode technology delivers strong durability, selectivity, and efficiency, enabling the recovery of high-purity products directly from dilute, complex and chemically harsh streams," says SiTration CEO and co-founder Dr Brendan Smith. He adds that simplifying flow sheets has the potential to decrease the use of processing chemicals and reduce costs, laying the groundwork for a new era of mineral recovery. "For the near term, we are targeting copper and gold waste streams from different BHP assets. Potential future use cases could contribute to unlocking low grade copper material that is currently seen as waste. SiTration's trial with BHP Invent validates how our breakthrough approach can modernise existing processing operations and set a new standard for resource-efficient, cost-effective mineral recovery across the industry." BHP innovation acting VP Marley Palin comments that projects like this show how mining companies can turn big ideas into real impact, connecting global innovation with the challenges that need solving across operations. "By accelerating innovation in processing technologies, we can maximise every tonne mined, through reducing inputs and lowering energy and water use. Together, we're collaborating to deliver safer, more productive and more sustainable outcomes," Palin concludes.

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. US-based critical minerals refining and recovery company Momentum Technologies has managed to produce some of the purest rare earths ever reported at its demonstration plant in Carrollton, Texas. This breakthrough, following the company's recent achievement of commercial-grade battery material purity from black mass refining, now makes Momentum Technologies one of the only companies in the US that can refine both rare earths and battery metals from mined ore and end-of-life materials - at commercially relevant purities. CEO Mahesh Konduru says these milestones are a generational leap for domestic critical minerals. "Our MSX technology is achieving unmatched purity levels from multiple feedstocks and unlocking value where conventional processing can not. We are the only platform that can refine both rare earth elements and battery minerals from primary and secondary sources, which is a strategic imperative for the Western World." The company produced 99.9% pure neodymium and praseodymium oxide from e-waste and magnet production waste, 99.5% pure dysprosium from magnet production waste and 99.5% pure yttrium from mined feedstock. Notably, there is no commercially viable substitute for dysprosium in high-performance permanent magnets used in fighter jets, guided munitions, advanced radars, automotive drive systems and medical imaging equipment. In turn, neodymium and praseodymium is the backbone of permanent magnets powering defence systems, robotics, electric vehicles and physical AI hardware. Yttrium is used in high-performance alloys, medical imaging devices, LED lighting and next-generation defence electronics. The US currently depends on China for more than 80% of these materials. Attaining more than 99.5% purity for heavy rare earths such as dysprosium and yttrium from diverse feedstocks used to be something only large, centralised Chinese processing operations can do. Now, through its MSX platform, Momentum Technologies has demonstrated that this can be done using a smaller, modular system built in the US, using everything from secondary waste streams to primary mined materials. Konduru points out that Momentum Technologies' MSX technology costs less to build and run than conventional methods, with growth possible simply by adding more modular units. MSX eliminates the need for costly, time-consuming processes that are associated with conventional processing of rare earths. The company is working to advance a commercial-scale rare earths refining project pipeline targeting primary and secondary feedstocks, with planned capacities ranging from 100 t/y to 1 000 t/y.

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. Platinum group metals (PGMs) have several properties that make them critical everyday-life minerals, Mintek supervisor applied chemical analysis Nehemiah Mukwevho explicated during his presentation at the Mintek PGM Industry Day, where South Africa's national mineral research organisation and one of the world's leading technology organisations specialising in mineral processing, showcased its latest PGM-relevant services, research capabilities and innovations. "Proper data is what keeps the whole industry moving," he told the audience at the event covered by Mining Weekly. (Also watch attached Creamer Media video.) Now in his twenty-second year at Mintek, Mukwevho expressed certainty that, in one way or another, audience members had, at some time or another, enjoyed the application of PGMs that are spread across autocatalysis, jewellery, chemicals, petroleum, electronics, electrical, medical and biomedical sectors. He was one of a dozen Mintek managers, engineers and scientists who presented in the auditorium of this 92-year-old State-owned mineral research organisation, which is situated at 200 Malibongwe Drive in Randburg. "The quantification of PGMs is very important because it guides all the plant processes," Mukwevho emphasised during his outline of the occurrence, properties, applications and analytical determination of PGMs, Hailed by Mukwevho was Mintek's major PGM quantification library and revealed by him was the publication by the organisation of fire assay procedures to attract and retain personnel. Mintek operates an analytical chemistry division that applies fire assay as a core technique for pre-concentrating and analysing PGMs in ores, concentrates, and geological samples and Mukwevho outlined what Mintek's fire assay know-how offers in helping to the understand PGM-bearing Merensky reef, upper group two (UG2) reef, Platreef, middle group reefs, chromites and sulphides. Displayed were the overwhelmingly South Africa-based areas where PGM reserves are located. Fire assay, viewed by Mukwevho as a bedrock PGM analysis method, and he outlined the information that must be provided prior to the commencement of PGM analysis for fire assay to be successful. He also spoke of incorrect estimates presenting challenges. "This is one area where, over the years, we've had a lot of discussion," he reported. If the proper information is not provided, many hours of work end up with "something you can't do anything with and you must redo the whole process again, but with the proper information given upfront, you're able to make good decisions". "When we send quotations to the client, we send them with a table that gives them guidance about the amount of sample that we need, and then also why they must provide a grade estimate," Mukwevho explained at the event covered by Mining Weekly. Delay-avoidance pre-analysis information required embraces sample grade estimates and ore type disclosure. To produce reliable results, Mintek complies with approved calibration standards. Its methods are accredited by South Africa's national accreditation system SANAS and processes are monitored through quality control charts and internal and external audits. Regarding the future of fire assay, several non-fire assay methods are being developed, "but fire assay for me is to remain….and we just need to keep on refining and improving it and then connecting it to other advanced instruments". Electric fire assay furnaces are giving way to gas furnaces, "because they do help a lot with the exposure to heat, because in fire assay, we work at around 1 200 degrees C". "With electric furnaces, you work very close to the furnace, but with the gas furnaces, you've got some distance, and then you've got control of the heat, b...

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. Energy exploration has picked up sharply in Australia driven by growing Asian gas demand, technological advances and an improved investment climate, with the Iran war underscoring the urgency to develop supply, after years of sluggish spending. Quarterly oil and gas exploration spending in Australia, the world's second-largest liquefied natural gas (LNG) producer, hit a 10-year high of A$471-million ($329-million) in the March quarter, government data released in June shows. Energy investment sentiment has improved in part following last year's election of a more supportive second-term Labor government, which faces pressure to fill a looming end-of-decade domestic gas shortfall without harming valuable LNG exports. Spending is expected to increase about 10% in 2026 to more than $1-billion, according to Rystad Energy, although Canberra's move last month requiring that 20% of gas be set aside for domestic use has sparked industry backlash. Much of the drilling is focused on three gas-rich regions: the Otway Basin offshore western Victoria, the Beetaloo shale in the Northern Territory, and the Taroom Trough in Queensland. Among them, the Otway is the most established and is close to existing infrastructure. While the search for more gas and oil in recent years has been concentrated onshore, costlier and riskier offshore investment is on the rise. "We're seeing renewed interest in frontier and unconventional plays as modern techniques de-risk development," said Krishan Pal Birda, vice president at Rystad Energy. SHALE HOPES In the Beetaloo, the territory government is pushing development of what it hopes can become an LNG-scale shale gas resource. It recently offered new acreage in the area for prospective explorers, along with co-funding. Australia's second-largest gas producer Santos is set to drill three appraisal wells there this year. In March, Japan's Inpex took a stake in a Beetaloo permit. Development of the Beetaloo could eventually provide the company with an onshore gas source for its Ichthys LNG plant in the Northern Territory's capital, Darwin. Drilling in the Beetaloo has benefitted from the arrival of more powerful rigs, used by companies such as Tamboran Resources, capable of drilling long lateral wells with many fracking stages. "Shale developers are the answer to the short supply in Australia," said Bryan Sheffield, a co-founder of US private equity firm Formentera Partners, which is working with Tamboran and invested along with Inpex. Sheffield, who ran Parsley Energy focused on the giant US Permian shale, cited a more welcoming regional government. "They want Americans to come in," he said at the Australian Energy Producers conference in May, adding that officials want the US service companies and flex rigs. "I think the experience of Texas is very relevant ... They prove that they're able to do massive multi-stage fracks," said Rick Wilkinson, CEO of advisory firm EnergyQuest. Not all are convinced on the Beetaloo's development. Bill Hare, the founder of Climate Analytics, raised concern that drilling the vast shale resources could be "very destructive", due to the impact on the land and emissions when gas is burned. "Quite apart from the climate issue, the water demands are huge in an extremely arid region," Hare said. SUCCESS, DISAPPOINTMENT AND SURPRISES In the Otway, exploration has jumped, with companies sharing rigs to cut costs, but their campaigns have had mixed results. "There is a lot more activity in the Otway than we've seen in years," Amplitude Energy CEO Jane Norman told Reuters. US major ConocoPhillips drilled two wells in late 2025, the country's first offshore wildcat wells in several years, with one well yielding gas, while a second found gas but not at the l...