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. There is no argument that the Mogalakwena platinum group metals (PGM) mine in South Africa's Limpopo province is "definitely" the PGM mining industry's most exciting endowment, Valterra Platinum executive head mining operations Willie Theron stated emphatically during the company's value-chain media briefing. Valterra has communicated to the market that Mogalakwena, on a six-element (6E) basis, is targeting production of between 900 000 oz and a million ounces a year. "But I just want to highlight our inclusive resource number," said Theron, as he reported that, on a 4E basis, there are 285-million ounces at Mogalakwena, which against the targeted production offers multi-century mine-life potential of 300 years plus – "that's how massive that resource is," Theron pointed out. Then, after going beyond Mogalakwena alone and extending out to the likes of Valterra's Amandelbult, Mototolo, Twickenham, and Unki, he pointed out that Valterra's huge resource is enough to keep this Johannesburg Stock Exchange-listed company busy "for millennia, never mind decades". Mogalakwena mines the Platreef, which Theron explained is not just about mining this reef that others are now also pursuing. "It's about concentrating the Platreef and going through smelting and refining of the Platreef." And there is going to be a lot more of that because the Mogalakwena openpit mine is on the way to being followed by Valterra's Sandsloot Underground Project. The Sandsloot Underground Project is an underground PGM development situated beneath the former Sandsloot openpit at the Mogalakwena mine. "If you look at Mogalakwena specifically, it has a one-to-one platinum-palladium ratio. "It doesn't have any chrome, and it has very little rhodium. But it does come with a nice tick on copper and a nice tick on nickel, and it does give us a fair amount of gold. "Almost 70% of our gold that we produce as a company comes just from Mogalakwena. If you recall, it's close to 100 000 oz. So, that is very important to note about the Platreef orebody. "What's also interesting about the Platreef orebody is that it dips at a 45o angle and then flattens out. "So, anyone that looks at the Platreef orebody needs to consider how they're going to treat base metals and then also how they're going to deal with Platreef's characteristics, because what's also quite interesting about the Platreef orebody is that it has a lot of clay material associated with it, and you don't use the same PGM-recovery methodologies." AMANDELBULT GENERATING HIGHER REVENUE While Mogalakwena is where major growth is being planned, it is the conventionally mined Amandelbult that is Valterra's bigger revenue generator, located as it is on the northern part of the western limb of the Bushveld Igneous Complex and also, like Mogalakwena, in Limpopo. There is a difference between the northern part of the western limb in that it has 1.5-m-thick upper group two (UG2) reef and when you look at its UG2 specifically, the platinum-palladium ratio is two parts platinum to one part palladium, which turns Amandelbult into the highest valued basket in the Valterra portfolio. At this moment, Valterra gets more revenue from Amandelbult than Mogalakwena owing to Mogalakwena having a one-to-one platinum-palladium ratio. "So, on a revenue basis, Mogalakwena is actually at a lower end owing to Amandelbult being two parts platinum, one part palladium, along with very good rhodium and very good chrome, and also interestingly enough, nice ruthenium and nice iridium, so a very important orebody." SOUTH AFRICA CAN PROVIDE WORLD'S PGM NEEDS Clearly, given Valterra and its PGM peers, South Africa can give the world the PGM metals that it needs. There's enough metal in the ground for decades and decad...

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. Industry body Mining Association of Canada (MAC) has welcomed an announcement by the federal government on a "Productivity Mega Deduction" as a permanent measure allowing businesses to fully write off the cost of most new capital assets in the year they are put to use. For Canada's mining industry, the Productivity Mega Deduction would allow companies to immediately deduct the full cost of a broad range of eligible depreciable assets acquired on or after September 15, once those assets are available for use. This could include a broad range of machinery, equipment and infrastructure used to build, operate, modernise or expand mines, as well as equipment used in mineral processing, smelting and refining. Qualifying Canadian development expenses incurred from that date would also be immediately deductible, including costs associated with developing new mines and qualifying development work at existing operations. Mining projects require enormous upfront investment, often years before they begin generating revenue, MAC states, adding that receiving these deductions sooner will improve project cash flow and net present value, lower the effective cost of investments in equipment and mine development, and could help some marginal projects or brownfield expansions meet companies' investment thresholds. "Making immediate expensing permanent will also provide greater certainty for the long-term investment decisions needed to bring new mines into production, extend the life of existing operations and strengthen Canada's mineral-processing capacity," the organisation explains. Importantly, the measure is broadly commodity-agnostic. This broad eligibility is especially valuable in mining, where projects frequently produce multiple minerals and investment decisions must account for changing markets over the long life of a mine. "Today's announcement by Prime Minister Mark Carney is transformative. With these announced new measures, Canada will become one of, if not the most, competitive mining tax jurisdiction in the world," says MAC CEO and president Pierre Gratton. "It will usher in a new age of new mining investment, spurring job creation, supporting local and Indigenous businesses and increasing Canada's supply of the minerals and metals the world needs and wants from a trusted country like ours. We expect these measures to have demonstrable effect in the near to medium term. "For mining, timing matters: Canada is competing with other jurisdictions for the investment needed to build out mineral supply chains, from base metals like nickel and copper to the critical minerals that allies are counting on. "By covering all of mining rather than a narrower list of commodities, the Productivity Mega Deduction stands to mark a turning point for investment across the sector and builds on Canada's growing strength in other commodities like gold and precious metals," Gratton 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. Hive Hydrogen South Africa on Tuesday, September 15, awarded the front-end engineering design (FEED) contract for South Africa's pioneering $5.8-billion green hydrogen ammonia project to Spanish company Técnicas Reunidas. "The Técnicas Reunidas proposal was outstanding in all respects. Our aim remains to produce the lowest cost green ammonia globally," said Hive Hydrogen chairperson Thulani Gcabashe, a former Eskom CEO and Standard Bank chair. In its final stage of development, the Hive Hydrogen project is viewed as South Africa's lighthouse green hydrogen project as well as being the flagship green hydrogen project for the EU's Global Gateway programme in South Africa. Under development is a renewable hydrogen and green ammonia production facility capable of producing a million tonnes a year of green ammonia for supply to international and domestic markets. The projects own grid-connected large-scale wind and solar PV renewable energy plants totalling 2 930 MW, will power the green hydrogen and green ammonia production facility in Gqeberha. Multi-faceted, the initiative is seen as being on the way to creating more than 20 000 employment opportunities. The $9-billion FEED contract is due to commence in Nelson Mandela Bay next month. Técnicas Reunidas track and services commercial director Gonzalo Pardo said his company was looking forward to delivering a successful FEED and contributing to Coega's role as a benchmark for Africa's sustainable industrial growth." The contract has been awarded amid the Coega green ammonia project being viewed as having the potential to establish the Eastern Cape as a global export hub for green hydrogen and green ammonia, while supporting industrial development, skills creation, local supply chains, employment and South Africa's transition towards a lower-carbon economy. The strategic Coega location provides access to the deep-water Port of Ngqura and South Africa's exceptional renewable-energy resources provide a platform for the production and export of competitively priced green ammonia to emerging international markets. The renewable-energy generation and associated upstream electrical infrastructure required to supply the project form a separate workstream and are not included in this FEED award, which is related specifically to the project's molecule production portion of the green hydrogen and green ammonia production facility, as well as the associated process infrastructure. A separate request for proposal will be sent to shortlisted special engineering, procurement and construction (EPC) entities. Técnicas Reunidas was reportedly selected following "a comprehensive competitive procurement, technical and commercial evaluation process" and is said to bring extensive international experience in the delivery of large-scale energy, hydrogen, and ammonia process facilities. A key feature of Hive Hydrogen South Africa's project execution strategy is for the successful ammonia production plant FEED contractor to roll over from FEED into the full EPC phase for the green ammonia production portion, subject to the successful completion of FEED, achievement of the required technical and commercial outcomes, project approvals, financing and final investment decision (FID). The EPC scope associated with the ammonia production plant is estimated at $1.8-billion, Hive stated in its media release to Mining Weekly. This FEED-to-EPC strategy is intended to maintain continuity between engineering and project execution, retain the knowledge developed during FEED reducing interface transition risk, improve schedule certainty and provide a clear pathway towards construction and commissioning. This FEED programme will further develop the engineering definition to establish 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. TSX-listed Neo Performance Materials has started commercial production at its European permanent magnet manufacturing facility, in Estonia, with first volumes of rare earth sintered magnets having been shipped to an electric vehicle traction motor customer. These milestones mark Neo's transition from development and sampling through full automotive qualification and into commercial production for its initial magnet programmes. Neo has been awarded multiple magnet programmes from three Tier 1 motor manufacturers, including traction motor applications, which is the most technically demanding category of permanent magnets. The company expects two to three more magnet programmes to enter commercial production before the end of the year. Automotive magnet programmes are typically awarded for the life of the vehicle platform they supply, which gives Neo multi-year volume visibility once a programme is awarded. Phase 1A of the Estonian permanent magnet facility has a nameplate capacity of 2 000 t/y while Phase 1B is planned to expand nameplate capacity to about 5 000 t/y. The expansion is currently being designed, with detailed engineering, advanced equipment procurement, supply chain planning and facility layout currently underway. Neo's longer-term magnet roadmap targets yearly production of 20 000 t through continued global expansion, which the company estimates could represent between 10% and 15% of the world's projected rare earth permanent magnet market outside of China.

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 third phase of the August 20-launched Government-Business Partnership for Growth and Jobs names freight logistics as a foundational enabler of growing the economy by 3%-plus and generating a million new jobs by 2030. "This is a welcome signal and confirms our consistently communicated and strong belief that logistics reforms – and rail reform in particular – are central to South Africa's growth targets and are not a technical issue alone but rather a fundamental economic driver," South Africa's Manganese Producers Consortium has pointed out in a media release to Mining Weekly. The partnership's own scorecard records the entry into the logistics network of 11 private train-operating companies, Durban being recognised as one of the world's most-improved ports (albeit from a low base), and R14.7-billion in Budget Facility for Infrastructure funding being approved for rail related maintenance backlogs. While the Manganese Producers Consortium supports all tangible results and proof that reform commitments can move from policy to delivery it expressed concern that bulk commodity export corridors are not getting the priority that they "urgently" demand despite lending themselves to "globally proven" private sector participation projects with "significant upside to the South African economy". What is appreciated by the Manganese Producers Consortium is that the Government-Business Partnership scorecard sets these hard new deadlines involving: a manganese private sector participation transaction being issued by year-end;the National Rail Bill coming before Parliament by March 2027, andalso by March next year, the Transport Economic Regulator being fully operational. These targets echo the direction that the Manganese Producers Consortium itself has been supporting for years – but what has been missing are speed, sequencing and executable timelines. What is different now is that Phase 3 puts government's own credibility on the line to meet these targets. "Phase 3 matters even more for institutional design as it is critical to ensure that there is a capable delivery 'machine' that encompasses and empowers independent institutions, introduces appropriate regulation and procurement processes with clear roles and responsibilities," the Manganese Producers Consortium emphasised. Phase 3's architecture assigns focal area leads and CEO sponsors to each priority, and commits to quarterly, public reporting on progress and slippage, which is precisely the kind of visible accountability called for and which remains essential to make this architecture work in practice: named leadership;transparent milestones;consequences when delivery falls short; anda capacitated, independent unit to drive private sector participation and rail transactions which are bankable and without institutional veto or conflict. The Phase 3 scorecard lays down that a manganese transaction must be brought to market by December 2026 and the manganese ore industry has a direct stake in the timelines announced. "This is a specific test, with a set deadline, of whether this Phase 3 can convert intent into action. The development of the long-awaited new manganese terminal at the Port of Ngqura and significant private sector participation on the Ore Export Corridor connecting Sishen in the Northern Cape with the Port of Saldanha cannot be delayed any further. "Manganese producers stand ready, with capital, committed volumes and long-term rail allocation arrangements, to anchor bankable projects. The 12x12 corridor strategy – 12-million tonnes through Saldanha and 12-million tonnes through Gqeberha – offers a demand-led, investable pathway that fits squarely within the partnership's mining and logistics ambitions. "The risk is familiar. South A...

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. Leading Australian gold producer Northern Star has appointed mining veteran Mark Cutifani to its board following pressure from major shareholder Elliott Investment Management to make strategic changes. Elliott has been quoted as saying that Northern Star is persistently underperforming relative to industry peers. Peter Rozenauers joins Cutifani as an independent nonexecutive director effective October 1. Suresh Vadnagra is due to take over as MD and CEO, succeeding Stuart Tonkin, while Jeff Quartermaine and Terry Bowen have also recently been appointed as new independent directors. Northern Star had reviewed a list of six candidates proposed by Elliott in accordance with its normal processes. Cutifani's career spans nearly five decades in mining, including as CE of Anglo American and CEO of AngloGold Ashanti. He is currently also chairperson of Vale Base Metals. Rozenauers brings to his position 34 years' experience in natural resources investment management and trading, having been a managing partner of Orion Resource Partners. Rozenauers is also a nonexecutive director of Nasdaq-listed Uranium Royalty Corporation. "With Rozenauers and Cutifani's appointment and the recent appointments of Quartermaine and Bowen, we will have a board with the mix of skills and experience needed to work with our new senior leadership to unlock the full potential of Northern Star's assets," says chairperson Michael Chaney. "Gold mining has been a huge part of my life and it's great to be back in the sector. As Australia's leading listed gold producer, Northern Star has an enviable portfolio of assets and, at a personal level, it's something of a homecoming given I was the inaugural general manager for the establishment of the Kalgoorlie Superpit way back in 1989," Cutifani comments. "It's an honour to join the board and I'm excited about what the company has ahead of it under the new leadership. I'm very pleased to be joining at a time when the full potential of KCGM is being delivered through commissioning of the new Fimiston Mill and to have the opportunity to contribute to the successful development of the new Hemi project," Rozenauers adds. "As one of Northern Star's largest shareholders, we are encouraged by the new appointments to the board. We believe their highly relevant and complementary skills can help Northern Star realise the full potential of its world-class gold mining portfolio. Elliott remains committed to working constructively with Northern Star to help the company deliver the outcome its shareholders deserve," concludes Elliott partner John Pike.

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 definitive feasibility study for the promising Soweto gold tailings retreatment project, west of South Africa's Gold City of Johannesburg, has been completed, Pan African Resources reported on Friday, September 10, when the London-, Johannesburg- and Sydney-listed company headlined the study as "delivering a robust long-term growth pathway" for its thriving West Rand Mogale tailings retreatment complex. The Soweto tailings project, designed to leverage existing Mogale elution, carbon regeneration, electrowinning and smelting infrastructure, significantly improves project economics and will come in at an estimated capital cost at R3.68-billion. Acquired as part of the Mintails transaction, the Soweto Cluster tailings storage facilities host mineral reserves of 0.98-million gold ounces. "We've been able to define a project that delivers attractive returns, meaningful production growth and accelerated environmental rehabilitation," Pan African CEO Cobus Loots stated in a release to Mining Weekly. The project has the resources to increase the Mogale complex's gold production to 100 000 oz/y at peak production. Importantly, it will address historical West Rand environmental liabilities at the same time. Gold production over the 15-year project life is expected to total 561 000 oz at a production rate of 35 000 oz/y to 40 000 oz/y. The forecast all-in sustaining cost of $1 750/oz to $1 800/oz excludes cost savings from renewable-energy supply. Evaluated is 600 000 t of tailings retreatment a month alongside the operating Mogale tailings retreatment processing facility. Using a gold price of $3 550/oz, the project returns post-tax net present value of R1.85-billion, internal rate of return of 29.55% and a post-commissioning payback period of three years. From the final investment decision date, which is anticipated in December, construction will take 28 months. Environmental authorisations are expected during financial year 2027.

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 joint report by the Organisation for Economic Cooperation and Development (OECD) and International Energy Agency (IEA) says high levels of supply chain concentration and rising trade restrictions are limiting investment and creating real vulnerabilities in critical mineral supplies. While efforts to diversify sources are gathering pace, investment still falls short of what is needed to keep up with demand, the organisations state. In parallel, the operational and governance risks that come with mining and processing activities need to be managed more effectively, lest they delay projects, erode trust and cause future disruptions. OECD and IEA say reliable access to critical minerals has become central to economic security and competitiveness, but market concentration of processing, smelting and refining is acute. They explain that national and multilateral initiatives to enhance economic security by developing more resilient and diversified critical mineral supply chains will require supply chain transparency to be fully implementable. Having surveyed 90 companies covering all major critical minerals to compile the 'Enhancing resilience through traceability' report, OECD and IEA determined that responsible business conduct standards, transparency and traceability are important tools to address some of the world's current challenges. "When applied in a targeted and pragmatic way, traceability can strengthen resilience, derisk investment and support responsible sourcing. By improving visibility across supply chains, traceability helps identify dependencies, verify responsible practices and target interventions where risks persist," the organisations state. By looking at the lithium and nickel supply chains in Latin America and Southeast Asia, in particular, the report highlights the importance of a tailored approach to traceability. In Latin America's lithium sector, high refining concentration creates opportunities for targeted interventions while Southeast Asia's nickel sector, with its complex ownership structures, is more challenging. OECD and IEA say reliable supply chain data is at the core of traceability systems and that price floors and similar trade-related measures need verified information on origin and production conditions to direct support toward trusted and responsible producers. The organisations find, however, that current traceability systems worldwide are fragmented. In practice, a combination of supply chain mapping, mass balance and auditing are often part of wider due diligence efforts, which does support partial visibility but not end-to-end traceability. OECD and IEA cite the example of Indonesia's Simbara system that can provide a foundation that targeted policy measures could strengthen. They find that update of traceability by the private sector is uneven and most traceability systems are being developed within individual companies using proprietary tools with limited public disclosure. OECD and IEA find the strongest traceability uptake is among traders and the weakest is among miners. BARRIERS TO TRACEABILITY The joint report affirms there are substantial barriers to the uptake of traceability and that more than half of the survey respondents identify costs and lack of interoperability as barriers to setting up traceability systems. The operation of such systems is further constrained by confidentiality concerns, supplier leverage and data quality concerns. Half of survey respondents rank regulatory consistency as the top priority for scaling traceability, with a similar share citing shared data infrastructure. Ownership opacity is also a significant blind spot. Complex and layered corporate structures obscure who ultimately controls key mineral assets, particular...

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. Committed investment in clean hydrogen has hit the $130-billion-plus mark, driven by global energy security and resilience issues, with 90% of 570 clean hydrogen projects already under construction or in operation. "Clean hydrogen's no longer a future bet," the Brussels-based Hydrogen Council reported in Global Hydrogen Compass 2026 on Thursday, September 10. Construction of a capacity of 6.9-million hydrogen tonnes a year is under way right now. Operational capacity has nearly doubled in the last 12 months, and based on the pipeline, it is predicted that operational capacity will double again in 2027, an upbeat Hydrogen Council CEO Ivana Jemelkova forecast during a global webinar in which Hyundai vice-chair and Hydrogen Council co-chair Jaehoon Chang, Sinopec vice-chair Zhao Dong and Port of Rotterdam Authority CEO Boudewijn Siemons also took part. The latest report, co-authored with McKinsey & Company and informed by the perspectives of some 70 global CEOs, coincides with shifting geopolitical priorities, which are strengthening hydrogen's role as a "strategic resilience lever". As governments seek to strengthen energy security, build more flexible economies and support long-term industrial growth, hydrogen is receiving renewed attention for its ability to help address multiple strategic priorities alongside deep decarbonisation, complementing growing electrification and use of renewable-energy sources. Geographically, China remains the largest market, accounting for more than half of global committed renewable hydrogen capacity. During the webinar covered by Mining Weekly, Dong's call was for the creation of a global system to facilitate large-scale cross-border green hydrogen trade. "We need to promote key international standards such as full life-cycle carbon-footprint verification for green hydrogen," said Dong. Describing hydrogen as the new-energy future, Dong urged all parties to embrace openness and cooperation. "We need to enhance communication and programmatic cooperation in innovation, mutual recognition of standards, and joint investment." While he was talking, it was reported out of Oslo that Norwegian hydrogen enabler Nel ASA had entered into a framework agreement with Hydrasun to establish dedicated assembly and integration capabilities for the MC Series, Nel's modular and scalable proton exchange membrane (PEM) technology platform. Interesting for South Africa is that PEM is catalysed by platinum group metals (PGMs), which South Africa hosts in abundance. "We're pleased to be working with Hydrasun to establish an experienced European integration partner for our standardized PEM electrolyser solutions, the MC Series. "As demand for standardized, modular systems grows, this collaboration enhances our ability to serve key markets while creating greater flexibility and scalability across our production network," Nel PEM operations senior VP Tushar Ghuwalewala stated in a media release to Mining Weekly. With this partnership, Nel gains an experienced integration partner in Europe, complementing its existing integration setup in the US and widening its delivery capabilities for the European market. Nel's PEM stack production will continue at Nel's Connecticut facility in the US. Europe now follows as the second-largest market, leading in project count and relative investment growth (+35% since 2025), while the US accounts for about 75% of globally committed low-carbon hydrogen and ammonia capacity. Siemons described the Port of Rotterdam as having "a nice concentration of the elements that you basically need to build up a new hydrogen market and to go through this energy transition. On top of all, we're close to the sea, and a lot of the hydrogen will either be produced here throug...

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 circular rare earths company Cyclic Materials has officially opened the US's largest rare earth recycling facility in Mesa, Arizona, which can process 25 000 t/y of end-of-life components to create a new domestic source of rare earth materials. The facility is poised to make its first commercial shipments to US customers later this month. The Mesa facility marks the world's first commercial-scale deployment of Cyclic's proprietary MagCycle technology, which delivers automated mechanical separation of magnets from end-of-life products, and serves as the front-end of Cyclic's integrated rare earths recovery platform. The facility is producing rare earth magnet material, which Cyclic calls Mag-Xtract, and critical minerals such as copper, aluminium and steel. The Mesa facility is an important milestone in Cyclic's buildout of nationwide critical material recovery infrastructure. A new South Carolina rare earth recycling campus is in development, which will combine the company's magnet recovery and rare earth refining platforms on a single site. Cyclic has built a strong commercial supply network across the US, securing significant volumes of magnet-bearing feedstock through long-term commercial partnerships. More than 7 000 t of end-of-life material has already been delivered to the Mesa facility. Cyclic CEO and founder Ahmad Ghahreman expects global demand for rare earths to triple by 2035, driven by AI, automotive, robotics, electronics, energy and defence applications. Building infrastructure to recover rare earths from end-of-life products is one of the fastest routes to securing domestic supply, Ghahreman states, especially given how geographically concentrated the global rare earths supply chain is. Notably, Cyclic's new facility was completed just 17 months after first being announced, which Ghahreman says demonstrates the company's repeatable deployment model to establish domestic rare earths supply capacity on an expeditious timeline.

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. Environmental campaign groups lodged a complaint against the European Commission on Tuesday, accusing the EU executive of moving ahead with an overhaul of water protection and management laws without enough evidence. The complaint is the latest by environmental groups over the European Union's efforts to simplify and scale back policies, a strategy known as the EU "omnibus", which responds to complaints from industries who say burdensome laws hurt their competitiveness with global rivals like the US and China. The complaint concerns a Commission plan to revise the EU's main water legislation this year, in part in response to concerns by mining and metals companies that say the law's environmental safeguards are delaying permits for new critical raw materials mines and other industrial projects. In a complaint filed with the European Ombudsman — the EU's independent watchdog — the World Wildlife Fund, the European Environmental Bureau and three other groups said the Commission had failed to sufficiently gather evidence and consult stakeholders before announcing the planned revision. This failure amounted to maladministration, they said. "Their cumulative effect amounts to a flagrant deviation from established due process, one that materially affects citizens' rights," the NGOs said. They argued that the EU water laws are not the reason new mines struggle to get permits, and do not need revising. A Commission spokesperson said it had not yet been notified of the complaint, but that it would continue to engage with stakeholders as it prepares to revise the water laws. "The Commission has been engaging in a transparent and inclusive dialogue with member states and stakeholders, and is currently assessing the input from stakeholders," the spokesperson said. The Ombudsman will now decide whether to open an inquiry into the complaint. That process can take a few weeks, a spokesperson for the watchdog told Reuters. The EU watchdog does not have enforcement powers, but rather makes recommendations that can affect future EU lawmaking, and increases scrutiny of the Commission. Last year, the Ombudsman obliged the Commission to publicly explain why it had fast-tracked other proposals to curb sustainability laws, and not assessed whether the changes complied with Europe's climate change commitments.

Mine tyre life lengthening that protects environment highlighted at Electra Mining 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. The International Standards Organisation (ISO) has verified the important environmental protection benefits of opting for mine tyre life extension solutions rather than purchasing new tyres. The carbon footprint methodology verified provides measurable data that mining companies can use when reporting Scope 3 emissions, which are by far the largest share of a mine's total carbon footprint. Last year, 70 mining companies across six regions reported prevented 32 700 t of carbon dioxide (CO2) emission by avoiding the need to manufacture and transport replacement mining tyres earlier than necessary. The ISO verification is the evolution of a programme that has helped mining operations quantify the environmental value of tyre life extension since 2019. As mining companies place greater emphasis on understanding emissions across their supply chains, Kal Tire believes reliable measurement will become increasingly important in demonstrating the contribution tyre management strategies can make towards helping mining customers extend tyre life, reduce waste and improve the environmental performance of their tyre operations. Kal Tire's Mining Tire Group, which is exhibiting at Electra Mining Africa 2026 at Johannesburg's show grounds, services and supplies more than 230 mine sites across five continents. The group's Maple Program includes ultra repair, retreading and ultra tread for mining tyres and SCS Global Services' validation gives added assurance in the carbon savings calculated from extending tyre life. "Customers in Zambia are currently making use of the Maple Program," Kal Tire VP Southern Africa John Martin told Mining Weekly at the Canadian company's comprehensive exhibition stand. Zambia's users receive annual certification of CO2 tonnage saved through the use of particularly ultra-repair technology, using Kal Tire's on-site repair facilities. "We have customers in Ghana as well," Kal Tire communications director Tracy Cobb added. Overall, Kal Tire's Mining Tire Group provides mining tyre service and supply to more than 230 mine sites across five continents. Instead of scrapping tyres immediately and purchasing new ones, a second life is being put into tyre casing, which lowers the total cost of tyre ownership. "Because the cost of the repair is nowhere near the cost of purchasing a new tyre, by the time that repaired tyre does end its life, you have saved a lot of money," Cobb pointed out. Part of Kal Tire's service is to ensure that the tyres the company looks after last as long as they possibly can. "Service providers like ourselves are not always permitted to sell those very large tyres. It's normally a direct supply from a manufacturer to an end user, and so for us, it's not about creating revenue by selling tyres. It's creating the value for the customer by making sure that the customer's operation is more sustainable. "We very much support this whole United Nations Charter around reuse and we want customers to use fewer tyres and that's part of the sustainability that that we provide to the operations," said Martin.

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 second-largest producer of silver globally and the EU's largest producer of mined copper KGHM Polska Miedź and global diversified miner BHP World Exploration have signed a memorandum of understanding (MoU) establishing a framework for exploration of areas of mutual interest. The document marks the beginning of discussions between two significant players in the mining sector and reflects the broader industry trend of seeking new opportunities for cooperation, knowledge sharing and improved operational efficiency. Drawing on their international experience and technical capabilities, KGHM and BHP will identify opportunities to share knowledge, compare operational practices and analyse potential directions for cooperation. At this stage, the parties will focus on refining shared priorities and identifying areas where further dialogue may deliver tangible benefits. Through this framework, KGHM and BHP may evaluate opportunities to leverage their respective technical, operational and international experience, including in relation to exploration opportunities, development-stage projects, and other areas where cooperation could create mutual value. The collaboration may also extend to initiatives and projects beyond locations where both companies currently operate, where the complementary capabilities and expertise can create mutual value. The modern global mining sector is increasingly based on cooperation, the exchange of experience and the pursuit of operational synergies. For KGHM, dialogue with a leading global mining group is an opportunity to compare perspectives and identify areas where shared know-how can deliver tangible business benefits. "The signed MoU provides a structured framework for further discussions and opens the way for an in-depth analysis of potential areas of cooperation," says KGHM president Remigiusz Paszkiewicz. In turn, BHP CEO Brandon Craig says he is excited to strengthen BHP's partnership with KGHM through this global MoU, saying that the agreement builds on the strong partnership that the partners have had in place for some time to enhance their copper operations in Chile. "The world will need more copper, driven by traditional economic growth, the energy transition, and digital investments. We are focused on unlocking high returning growth through innovative partnerships like this one. The MoU provides a structure for BHP and KGHM teams to come together and explore new avenues to find and unlock copper growth opportunities." KGHM VP Anna Sobieraj-Kozakiewicz adds that the mining industry benefits from open dialogue and the exchange of experience among companies operating across different regions and jurisdictions. "The MoU provides a platform for engagement between KGHM and BHP and reflects our shared interest in exchanging perspectives and exploring potential opportunities for future collaboration," she 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. South Africa's Multotec, whose equipment is now used to optimise recoveries and reduce cost of ownership in mineral processing plants in 100 countries on six continents, highlighted its global success on the opening day of Electra Mining Africa 2026 when it formally handed over the CEO baton. After 20 years of leadership under Thomas Holtz, Multotec announced the appointment of Johan Robbertse as its new Group CEO along with the elevation of Holtz to the chairpersonship of a company that has to a large extent bucked South Africa's deindustrialisation trend. During his 20-year CEO tenure, Holtz led Multotec through a period of transformation, guided by a vision to build a globally competitive manufacturing business from Africa, powered by African talent. Supported by manufacturing operations across Africa, South America, Asia and North America, alongside sister companies in Europe and Australia, Multotec evolved into a globally integrated business while retaining its South African roots, a foundation that positions the company for its next phase of growth. As part of the planned leadership transition, Holtz will focus on strengthening the board's independence and governance while supporting the company's long-term strategic direction and continued international growth. The leadership transition follows two decades of sustained international growth that transformed Multotec from a predominantly South African manufacturer into a globally integrated business that now exports around 60% of its equipment. "South Africa and Africa is obviously a key market for us. We have every intention of staying here and growing here. At the same time, we've got to go where the market is, and we know, and obviously those in the mining industry know, the pain that we felt with diamonds. "Then it varies. Gold is currently doing well and has been doing well for a while now. Then other minerals are struggling, so we have to find where the mining operations are and we've done pretty well in some very remote jurisdictions," Holtz pointed out. "We've almost seen everything on a process plant, but we still learn every day, and that's the beauty of having manufacturing. It's 53 years of specialist process knowledge that we can apply," Robbertse reported during the formal handover covered by Mining Weekly. "It's 1 900 people across the globe, speaking various languages, coming from various cultures, that come together to make the mineral process industry great, and may that continue for a long, long time," Robbertse added. Holtz joined the company in 1996 as a project manager before progressing through a series of leadership roles across the business. In 2008, he succeeded his late father and Multotec co-founder, Ernst Joachim (EJ) Holtz, as Group CEO, becoming only the second CEO in the company's half century-plus history. The appointment of Robbertse, who joined the company in 2010, reflects Multotec's commitment to leadership continuity to ensure that customer focus, product development and innovation remain embedded. Regarding Multotec's latest joint venture business in China, Holtz commented: "We have a presence in China to support the mining industry in China, so that's our priority. "We've worked with a mining consortium to go into a region that's a little bit less serviced from an international screen product portfolio, but over time we'll add the spirals, we'll add the cyclones. We might add some other products but in that particular region. "What's amazing, is the Chinese are so welcoming of companies that are prepared to invest and bring technology and skill up local people. "We've got a strong local market that we can service. We've got a strong local partner who's going to work with us, and we believe our Chine...

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 and metals research firm BMI find that Australia's industry risk profile is largely being shaped by climate exposure and labour scarcity, though these effects vary by sector. Climate-related risks are most acute in mining and agriculture, particularly in Western Australia with nearly 90% of the state's land being prone to bushfires, exposing this mining sector to elevated physical climate risk. BMI's proprietary asset-exposure data shows mining's climate risk score rising from 64.5 in 2026 to 65.4 by 2050, with the impact likely to be felt mainly through higher insurance and private capital expenditure rather than weaker output. In turn, labour shortages present a more economy-wide challenge, with gaps pronounced in health, education and construction. BMI expects this pressure to intensify as tighter migration settings constrain access to overseas skilled workers - an important source of labour for several sectors. In mining, labour costs remain high relative to competing mining jurisdictions and wage disputes are a recurring threat - a pressure which BMI expects automation to only partly offset over the coming decade. Another material financing risk for Australia's mining industry is that of governance. Government procurement is currently equal to 17.9% of GDP, while 34 active National Anti-Corruption Commission (NACC) investigations as of May raise tender-integrity risk for a sector dependent on public approvals and infrastructure access. BMI also cites heightened national-security screening of foreign investment in critical minerals as a challenge, as it adds another layer of regulatory friction. The firm says Australia's mining remains the sector most exposed to the policy uncertainty created by rising political fragmentation. In respect of the broader economy, BMI says Australia's policy responses have so far remained targeted rather than structural, limiting their ability to materially reduce sector risk. In agriculture, federal and State drought-support measures provide short-term relief, but do not address longer-term constraints around water infrastructure investment, leaving the sector exposed to recurring climate stress. "Major infrastructure spending commitments are supporting transport and low-carbon energy development, but do little to ease the skilled labour shortages that continue to constrain execution," BMI notes. BMI further finds that Australia's mining industry is forecast to decrease in value from $172-billion in 2026 to $164-billion by 2035 as coal and iron-ore output softens. New South Wales halted applications for new greenfield coal mines in March, however, continued federal approval of mine life extensions and expansions – including a 24-year extension for Middlemount in February – will support fossil-fuel export earnings despite the government's net-zero target by 2050. On the social front, BMI expects the Australian mining sector's shift toward automation to offset labour scarcity, which the firm says will likely reduce the country's role as a regional employer over time, even as critical-minerals expansion sustains investment. Moreover, BMI expects fossil fuels to continue accounting for more than 86% of Australia's total energy consumption by 2035, even as non-hydro renewables rise to 66% of the power mix. This indicates that the power generation sector's emissions profile will improve only gradually and remain misaligned with the scale and pace of transition required.

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 founder and chairperson of diversified mining company African Rainbow Minerals (ARM) on Friday, September emphasised the importance of companies behaving in a manner that reflects integrity, honesty, governance and respect for legality and due process. "It's important for us to create value for shareholders. It's equally, if not more important, that we do so in a legal manner, in an ethical manner, and that's what has always been the culture of ARM," Dr Patrice Motsepe pointed out during the Johannesburg Stock Exchange-listed company's presentation of 19% higher headline earnings of R3.2-billion. (Also watch attached Creamer Media video.) Net cash improved 54% to R10.2 billion, and a final dividend of R7 per share was declared. "We've always had a commitment to all stakeholders. We're a company that, being South African, has a duty to reflect meritocracy, the best of our people from all backgrounds and cultures – black people, white people, coloured people, and Indian people. "Everybody must feel that this is their company, not in terms of what we say, but in terms of our track record and how our employees and management feel that we behave, and also a duty to the country to provide jobs and uplift," said Motsepe, ahead of ARM CEO Phillip Tobias stating that he is "very pleased" that the ARM board has approved a R15.2-billion capital outlay on what he described as the host of South Africa's second-largest platinum group metals (PGM) resource, the Bokoni PGM project, which has a 6.3-year payback. Restart of the Nkomati nickel mine has also won board thumbs up. "The restart is a low-risk, immediately executable opportunity that leverages existing infrastructure and re-establishes South Africa's only primary nickel producer," Tobias reported. Existing infrastructure is supporting execution involving capital of approximately R1.9-billion over two years. Regarding safety, Tobias expressed pride at achieving a fatality free year and "we remain committed to achieving zero harm". ARM finance director Tsundzukani Mhlanga pointed to the significant increase in cash generation to R4.2-billion: "Last year, same time, we generated cash of R45-million versus R4.2 billion – quite a marked increase." ARM Platinum headline earnings increased by more than 200% as did those of Two Rivers platinum group metals (PGM) mine and Modikwa PGM mine. Nkomati mine, which sold 28 111 t of chrome concentrate, reported headline earnings of R39-million. "Our outlook on earnings remains positive... We continue to focus on factors that are within our control – the cost discipline, mining flexibility, and quality mining," Tobias explained. ARM FERROUS ARM Ferrous headline earnings decreased by 42% to R2 028-million on lower contributions from the iron-ore and manganese divisions. The iron-ore division's headline earnings decreased by 41%, while the manganese division's by 68%. The cessation of production at Beeshoek mine resulted in local sales volumes falling to 0.5-million tonnes. The reduction in sales volumes, retrenchment costs of R124-million, an increase in the rehabilitation provision of R191-million and care and maintenance costs of R92-million collectively had a significant negative impact on headline earnings. Headline earnings at Khumani mine decreased significantly on mainly the average realised rand strengthening by 7%, partially offset by 180 000 t higher export sales volumes. Manganese headline earnings declined on mainly the rand strengthening and lower manganese ore and alloy export prices. Continued collaboration with State-owned Transnet through the Ore Users Forum and Manganese Producers Consortium advanced rail and port reforms on the Saldanha and Ngqura corridors, delivering a 1% improvement in export ...

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 headline earnings of diversified mining company African Rainbow Minerals (ARM) increased by 19% to R3 201-million in the financial year ended June 30 on mainly higher dollar platinum group metals (PGM) basket prices. Revenue increased by 25% to R16 323-million and the dividend from Harmony Gold was a 113%-higher R512-million. ARM Platinum headline earnings increased by 200%-plus, as did those of Two Rivers PGM mine and Modikwa PGM mine. Nkomati mine, which sold 28 111 t of chrome concentrate, reported headline earnings of R39-million. ARM's overall net cash improved by R3 562-million to R10 171-million and the board of the company headed by CEO Phillip Tobias declared a final dividend of R7 a share. The group recorded zero fatalities, which is seen as a significant milestone, with the last fatality-free year recorded in FY2017. Lost-time injury frequency rate improved by 9% to 0.29 per 200 000 person hours and the total recordable injury frequency rate regressed by 11% to 0.56. ARM FERROUS ARM Ferrous headline earnings decreased by 42% to R2 028-million on lower contributions from the iron-ore and manganese divisions. The iron-ore division's headline earnings decreased by 41% and the manganese division's by 68%. The cessation of production at Beeshoek mine resulted in local sales volumes falling to 0.5-million tonnes. The reduction in sales volumes, retrenchment costs of R124-million, an increase in the rehabilitation provision of R191-million and care-and-maintenance costs of R92-million collectively had a significant negative impact on headline earnings. Headline earnings at Khumani mine decreased significantly on mainly the average realised rand strengthening by 7%, partially offset by 180 000 t higher export sales volumes. Manganese headline earnings declined on mainly the rand strengthening and lower manganese ore and alloy export prices. Continued collaboration with State-owned Transnet through the Ore Users Forum and Manganese Producers Consortium advanced rail and port reforms on the Saldanha and Ngqura corridors, delivering a 1% improvement in export rail performance and enhancing the long-term competitiveness of South African producers, ARM reported in a media release to Mining Weekly. ARM COAL ARM Coal reported a headline loss of R428-million driven on mainly the lower realised coal price and rand strengthening. The Goedgevonden coal mine recorded a headline loss of R73-million and PCB a headline loss of R355-million. COPPER ARM stated that its investment in Surge Copper supported the continued advancement of the Berg project, which the completed prefeasibility study (PFS) confirms as a large-scale copper/molybdenum development with a maiden mineral reserve supporting a 28-year mine life. Following completion of the PFS, the project is now progressing into feasibility-level technical and environmental studies, alongside the environmental assessment and permitting process and continued engagement with First Nations. The feasibility study report is planned for 2028, with the environmental assessment decision targeted for 2029 to 2030 and a final investment decision for 2031.

Some of the world's biggest money managers have rebuilt their gold holdings after prices dropped, betting that long-term drivers of the precious metal will endure even as the US Federal Reserve takes a more assertive stance on inflation. Amundi SA, Europe's largest asset manager, bought bullion on the expectation it will return to $5 000/oz by year-end. Fund managers at Pictet Asset Management, Robeco Institutional Asset Management and Fidelity International also added to holdings cut earlier this year, during bullion's retreat from an all-time high. "Gold is an asset that we consider to be cheap, a good hedge and reasonably liquid," said Lorenzo Portelli, head of cross-asset strategy at Amundi Investment Institute. But greater visibility over the Fed's interest-rate path would be needed, he said, before the firm would consider adding to last month's purchases. That was a common theme in interviews with more than a dozen asset managers, whose firms manage a combined $27-trillion. Without exception, each of them – including BNP Paribas Asset Management and Manulife John Hancock Investments – had either added back gold in recent weeks or were maintaining bullish allocations. But any breakout above gold's recent ceiling near $4 600/oz won't be smooth, many of the money managers said. Higher Treasury yields and increased bets for at least one Fed rate hike before year-end are undermining support for bullion, an asset that tends to be less favored when borrowing costs rise, because it doesn't pay interest. Investors' resolve was tested by Fed chairperson Kevin Warsh's Aug. 28 speech at the central bank's Jackson Hole symposium, where he warned that US inflation isn't meaningfully slowing toward a 2% target – comments that triggered increased bets on monetary tightening. So far, these potential speed bumps haven't shaken the renewed conviction of long-term investors. Gold's enduring appeal, some of the money managers said, lies in its value as a hedge within a broader investment portfolio. "It's become a much more acceptable asset," said Arnout van Rijn, a portfolio manager for multi-asset and equity solutions at Robeco, a Dutch firm that oversees some $464 billion in assets. "It's become part and parcel of every regular or normal portfolio." After a blistering rally backed by speculative capital took gold to an all-time high near $5 600/oz in January, the metal has spent much of this year in retreat. Elevated energy prices and inflationary shocks from the Iran war dragged it back to near $4 000/oz in June. That's when funds began to show interest. "The downdraft to $4 000/oz, if you didn't own it already, was a very good buying time," said Michael Cuggino, president of the Permanent Portfolio Family of Funds. "The long-term macro story is still in place, and that's bullish for gold," he said, adding that "higher highs and higher lows" could be expected over time. For Robeco's van Rijn, the catalyst for buying gold again was an acceleration in central-bank purchases during the second quarter. Official-sector demand recovered sharply between April and June, with net purchases of 289 tons the highest for any second quarter, according to the World Gold Council. Sophie Huynh, a portfolio manager and strategist for dynamic-asset allocation at BNP Paribas, was drawn back by a fading correlation between bullion and risk assets like equities – a trend that suggests gold's traditional value as a hedge has returned after a period of speculative trading. "The froth of gold has come off," said Huynh. Instead, the metal is being powered by "fundamental drivers such as central-bank purchases and multi-asset managers looking for portfolio hedge," she added. That renewed appetite for gold is reflected in funds' net-long position tracked by the Commodity Futures Trading Commission, which rose in the week ended Aug. 25 to its highest level so far this year. In one of the starkest warnings of recent weeks, Ray Dalio, the billionaire founder of Brid...

Mining Weekly Editor Martin Creamer unpacks Sibanye-Stillwater’s new projects; a six-million-ounce platinum demand opportunity from hydrogen truck fleets; and Northam Platinum wanting its Eland mine to be the first PGMs mine operating solely on renewable energy.

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 big part of Impala Platinum is focused on the future and on developing future strengths and competitive positioning, Implats CEO Nico Muller outlined on Thursday, September 3, when this Johannesburg Stock Exchange-listed platinum group metals (PGMs) company reported the generation of R22-billion worth of free cash flow in its financial year 2026 (FY26). "It's very exciting for us to be in an industry supported by a constructive price environment. This is a point that we as a company have worked many years to get to. "We have got a pipeline of opportunities, the balance sheet is very strong, we've got no debt, and we've got R37 billion-rand worth of hedging liquidity," added Muller during the FY26 results presentation covered by Mining Weekly. (Also watch attached Creamer Media video) The R50-billion capital project programme that Implats announced in 2020 peaked around 2024 and for last two years, it has been winding down. "So, we're now entering a new phase where we plan that, for the next five years, we'll spend about R60-billion," Implats COO Patrick Morutlwa announced. This would, Morutlwa said, firstly enable sustainable production and secondly create strategic optionality by further increasing process capacity at the base metal refinery by 20%. In the next five years, the company will be advancing life-of-mine (LoM) extensions, with some already approved, such as Rustenburg's Shaft 20 and Shaft 14. "We'll also be increasing our ore reserve development," Morutlwa said. During FY26, group mineral reserves increased by 9% to 53.8-million six element (6E) ounces, reflecting the impact of approved LoM extension projects and ongoing resource conversion activities across the portfolio. "We've got tailwinds," Morutlwa added. Implats executive: corporate affairs Emma Townshend reported that one of the things that had changed positively over the last year and a half was the absolute focus on critical minerals - the security and surety of supply. "Then from a big demand, energy, and impetus perspective, obviously you've got AI. "Many of you have had the benefit and the privilege of going to Shanghai Platinum Week and getting exposure to the huge diversity of industrial applications and the kind of energy and impetus behind the development of those markets. I think that's proved a really useful counter to the demand story, which has been very much about, kind of, you know, waning production over the last couple of years. "Linked to that China story, but I think more broadly, just in terms of South African supply and the structure of the market, we are absolutely seeing growing relevance in terms of minor PGMs, and I think that is a trend that you've seen in PGM markets over time. "But there's no doubt that the next ten to 15 years are going to be far more focused on the full basket, and particularly iridium and ruthenium, and we are a very significant producer of both. We're close to 30% of primary refined iridium production, and around 28% of refined ruthenium production," Townshend pointed out. Implats CFO Meroonisha Kerber highlighted FY26 as an exceptional year in which Implats was able to capitalise fully on improved pricing, resulting in a 58% increase in revenue to R135.1-billion. "We ended the period with liquidity headroom of R37-billion, which is our cash plus our undrawn facilities. "The benefit of having a strong balance sheet is that we have the funding flexibility to really take advantage of the portfolio of assets that we have, and to fund projects that we believe are going to enhance the sustainability, the cost competitiveness, and drive long-term value. "We have kept the balance sheet strong and resilient. We have provided shareholders with very attractive returns, and lastly, we...

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. Lithium developer Vulcan Energy Resources on Thursday announced phase two of its lithium project in Germany's Upper Rhine Valley and commenced process to bring in additional strategic investors. Funding efforts for the second phase, Project Ludwig, are being launched as construction gets underway on the project's first phase, Lionheart. Vulcan will produce mainly EV battery-grade lithium chemicals using geothermal brine and also provide renewable heating. The Perth-headquartered company owns 86% of the first phase of the project, Project Lionheart, while the remaining 14% is owned by the German government-backed Federal Raw Materials Fund. Vulcan also owns 85% of Project Ludwig, while existing investors German industrial conglomerate Siemens, construction group Hochtief and investment firm DemEA hold the remaining 15%. The company is now launching a process to bring in additional minority strategic investors "We are looking for strategic investors to take a minority stake at the asset level. Phase one investors were very Eurocentric. For phase two we have interest from European investors but of the unsolicited interest, a lot is coming from Asia," executive chairperson Francis Wedin told Reuters. Vulcan's search for a strategic investor comes as Asian battery and EV makers establish supply chains in Europe. World's largest EV battery maker CATL raised about $4.6-billion in a Hong Kong listing in 2025, saying most of the proceeds would fund a battery plant in Hungary as part of its overseas expansion strategy. With the Vulcan's stock down 41.5% year-to-date and closing at A$2.610, near its 52-week low, the search for a strategic investor comes at a key juncture as the company looks to mitigate risk through partnerships

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. Burnstone gold project in South Africa and Mount Lyell copper/gold/silver project in Tasmania, both considerably infrastructured with near-term revival outlooks, have been approved by Johannesburg Stock Exchange-listed Sibanye-Stillwater. Burnstone, located near the town of Balfour in South Africa's Mpumalanga province, is a project of about 130 000 oz of gold a year at steady state, with a 25-year life in relatively shallow reef in the Witwatersrand basin's South Rand Goldfield. Mt Lyell, near Tasmania's Queenstown, comes with established operating insight and an early 2029 production target. Burnstone's vertical shaft, decline, and surface infrastructure is supported by a trackless mobile machinery (TMM) fleet so that mining can kick-off quickly when it begins next year. "We're not buying a greenfield premium. This is reserve replacement and a shallower, lower risk ounce to offset depletion from our deep conventional mines," COO South Africa operations Richard Cox outlined during Sibanye-Stillwater's presentation of super-duper, dividend-yielding half-year results covered by Mining Weekly. For 2026, Burnstone has a capital allocation of R98-million and Mt Lyell $7.5-million. "We don't have to go out and join expensive M&A sales processes. We have a portfolio of assets that we can develop and that's our focus. Very exciting pipeline of projects coming through. The first six months have helped Sibanye progress its strategy a lot further than I imagined we would 12 months ago when we put that together," an upbeat Sibanye-Stillwater CEO Dr Richard Stewart highlighted. Burnstone and Mount Lyell were described by Sibanye-Stillwater head of projects Ralph Lombard as demonstrating the strength, depth, and quality of the company's project pipeline, "as well as the disciplined approach we're taking to capital allocation". When in steady state, Burnstone will have created about 2 500 jobs and Mount Lyell about 300 jobs. Burnstone has a net present value (NPV) of R19.2-billion with an internal rate of return (IRR) of 36%, while Mt Lyell has a post-tax NPV of $550-million and an IRR of 20%. So, what makes Burnstone attractive? "Burnstone sits with a substantial amount of infrastructure already developed. Most important is our vertical shaft and our decline shaft are in place. Over and above that is we have our TMM fleet available," Lombard responded. "We'll build up to 2029 and create a stockpile for our processing facility to start in the first quarter of 2029 and after that, we'll have continuous operations, steadily building up to steady state. "At this stage, we are targeting 2.7-million ounces, which form part of our reserve. Successful execution of Burnstone will open up the additional 8.9-million ounces in future. When we talk about a 25-year life, that's the 2.7-million ounces," Lombard explained. And what makes Mt Lyell attractive? "Mt Lyell, like Burnstone, also has a substantial amount of infrastructure. It's a copper/gold mine in Tasmania. It's around the town of Queenstown, the top north-eastern portion. "The orebodies we will target are Prince Lyell, Western Tharsis, Cape Horn, and Copper Chert. Those are the orebodies we are currently targeting as part of the Mount Lyell project. "On the south-western side, is a fully permitted tailing storage facility. Like Burnstone, again, the infrastructure already in place reduces the capital bill which we need to pay for Mt Lyell," said Lombard. This year's $7.5-million will be allocated to project setup, recruitment commencement, and mobilisation. Total project capital to get to production is around $340-million. At today's spot prices, NPV is above one-billion dollars, and IRR in the region of 28%. The picture of Mt Lyell showed disturbed ground ar...

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 gold and silver company Hycroft Mining Holding Corporation has strengthened its board with the appointment of former Newmont Mining Corporation CEO and CFO Richard O'Brien, former Newmont Mining Corporation general counsel and senior VP Blake Rhodes, former AngloGold Ashanti CTO Marcelo Godoy and former Freeport McMoRan Americas president Josh Olmsted to its board of directors, with effect from September 1. "There are board appointments and then there are moments that reinforce the transformation of the company and underscore the potential significant opportunities ahead. Today is one of those moments. Hycroft is bringing together four extraordinary leaders in the global mining industry, each of whom has earned a level of industry credibility, experience and stature that has helped shape many mining companies. "We believe this represents far more than an addition to our board. This is also an extraordinary vote of confidence in our vision, our asset, our people and the opportunities ahead," comments Hycroft chairperson and CEO Diane R Garrett. She adds that Hycroft has, over the past several years, built a strong foundation through exploration success, the advancement of technical work to strengthen its operations and its balance sheet. "The addition of Richard, Marcelo, Josh and Blake builds on that progress and further enhances the board's breadth of operating, technical and financial expertise. Each individual brings distinctive and highly relevant experience. Collectively, they have led major mining companies, operated large-scale mines, advanced complex technical projects and executed transformational transactions. Their perspectives, expertise and leadership will be invaluable as Hycroft continues to advance our asset and realise its significant potential," Garrett says. Hycroft is developing the Hycroft mine, in Nevada.

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 prefeasibility study (PFS) for ASX-listed Tungsten Mining's Mt Mulgine project, in Western Australia, confirms the potential for the world's largest, lowest-cost tungsten development. The company intends to move to a definitive feasibility study and final investment decision by the first quarter of 2028, with first production envisioned for the second quarter of 2029. At a base case eight-million-tonne-a-year scenario, Mt Mulgine has a net present value (NPV) of A$6.8-billion (before tax) and internal rate of return (IRR) of 55%, should prices average $1 509/t. In a higher spot price scenario, the project's NPV increases to A$15.5-billion and the IRR widens to 113%. The eight-million-tonnes processing scenario requires initial capital of A$870-million, while a Stage 2 expansion that ramps up to 16-million tonnes a year requires an additional A$420-million. Under the expansion case, the project's NPV and IRR increase to A$8.1-billion and 57%, respectively, at base case prices and A$18.3-billion and 113%, respectively, at spot prices. The PFS estimates a mine life of 21 years for Mt Mulgine, producing up to 12 000 t/y of tungsten trioxide at the world's lowest C1 cash cost of $53/t and all-in sustaining cost of $127/t. From a market perspective, Tungsten Mining explains Chinese export restrictions, tighter quotas and dependence on imported concentrate have cut primary availability, shifting the market into a structural deficit that is expected to be sustained through 2028 and beyond. This while demand continues to grow from a current base of 154 000 t up to 215 000 t in 2035, which equates to a compounded annual growth rate of 3.4%, driven by increasing defence and manufacturing requirements. Additionally, the ammonium paratungstate price has remained at $3 000/t following a sharp increase in 2025 and early 2026.

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. If a 20% global truck fleet share can be secured at current or near current platinum loading, there is a six-million-ounce opportunity from a demand perspective, according to Valterra Platinum executive head: marketing Hilton Ingram, who added that truck fleets in their thousands are already being driven around China by producers, distributors and users of low-cost hydrogen. A fundamental driver of truck fleet demand is the reduction by China of its reliance on energy imports from other countries, said Ingram, who sees China as the most appropriate country to establish a low-cost source of hydrogen at refuelling stations ahead of global replication, hopefully also in South Africa. (Also see attached Creamer Media video.) In response to Mining Weekly's request for energy-security pursuit insight, Ingram hydrogen stays a strategic element in China's strategy as a result of reliance on energy imports being lessened. "We're seeing areas of industrial demand uplift, particularly in China, particularly in response to energy security," Ingram reported during Valterra's online and in-person platinum group metals (PGMs)value chain media briefing in Rosebank. In another response during the webinar, Ingram explained that while Valterra is working with Sasol and other industry players around the hydrogen economy in South Africa, establishing a low-cost source of hydrogen at refuelling stations is best solved in China and then replicated globally. "The nice thing about it, on the hydrogen side of things, is that China is in its 15th Five Year Plan, and they're talking about significant resource upgrade investments in China. "We've just in the last week or so had greater clarity around the city clusters that will be impacted by that, and we're waiting to see what each of those individual city clusters and regions are going to focus on, so that'll give us greater insight into the impacts and applications there. "But the fundamental driver in the space around China is diversifying their energy base, and as result, reducing their reliance on energy imports from other countries," said Ingram, who is next year's incoming chairperson the 100-member International Hydrogen Fuel Cell Association (IHFCA), a global non-profit organisation established in July 2022 and headquartered in Beijing. This has already given rise to the development of China's current closed-loop hydrogen fuel cell mobility system, which is taking place amid aspirations to advance from closed-loop into a new open-loop era that can be emulated globally. "So, what you'll see is truck fleets in their thousands being used by folk that produce low-cost hydrogen, distribute the low-cost hydrogen, and use the low-cost hydrogen. "You have a company like Rockcheck, which moves its iron-ore from port to its steel mill with fuel cell trucks, and it moves its finished product from steel mill to customer using fuel cell trucks," Ingram explained. Tianjin Rockcheck Steel Group Company is a Chinese steel manufacturing enterprise based in Tianjin that processes ferrous metals and utilises iron-ore for steel production. In March, Northam Platinum CEO Paul Dunne expressed the belief that the world had moved from over-estimating hydrogen to under-estimating it and spoke of the need for more extensive China travel to further witness the emergence of the hydrogen economy. The next step in the journey is looking to develop open-loop systems, which Ingram outlined as requiring low-cost hydrogen produced by one company, distributed by another company, and used by others. "That challenge, we think, is best solved inside of China, and for the moment we think the best chance of that success is in the Yangtze River Delta region and so we're working with our partners in 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. Johannesburg Stock Exchange-listed gold and copper mining company Harmony is very optimistic about adding additional surface gold production from its surface retreatment operation options in the Free State and on the West Wits. In flagging these organic options during its latest presentation of excellent financial results, Harmony CEO Beyers Nel expressed the belief that, on a conceptual level, the Free State and West Wits surface options could add about 100 000 oz of annual long-term, low-cost, high-margin production to Harmony, whose surface retreatment assets contributed 7 t of gold at a solid 46% margin in the 12 months to June 30. To add more surface ounces, new tailings storage facilitation has to be constructed, similar to what Harmony has at Karreerand, the location of Mine Waste Solutions' mega surface retreatment operation. "It's a process of working through regulatory approvals, doing the capital estimates correctly, and making sure that these projects, which are hydro-mining operations, have adequate water supply, for example," Nel pointed out to Mining Weekly in a one-on-one interview. (Also watch attached Creamer Media video.) Being worked on are options to ensure that it has enough water to mine without interruption the water-scarce Free State, where Harmony has 5.7-million ounces on surface. Once feasibility studies, now being concluded, have been determined, those outcomes will be disclosed to the market. UNDERGROUND EXPERTISE Harmony, which produces 1.4-million to 1.5-million ounces of gold a year, is particularly good at extending the life-of-mine of underground operations. It does so by injecting new life into undercapitalised assets, or short-life assets, or strategic-exit assets, though capital infrastructure redevelopment. These organic mine life extensions in which Harmony excels are relatively low-cost resource-to-reserve conversion opportunities when compared with inorganic opportunities, "so we continue to extend mine life, and we'll probably continue to do so for many years to come", said Nel. Mining Weekly: When it comes to copper, Harmony seems to be moving quite steadily in new terrain in Australia. Nel: We're very excited about our copper prospects. What we do say is that gold is Harmony's foundation, our cornerstone, who we are, and that copper is a growth lever for us. We've got two copper operations at the moment. We're building a mine called the Eva copper mine, that will be in contrast to the mine we own. Eva is an openpit bulk mine, slightly lower grade but a big volume openpit mine, which is under construction. Then, we've also got the CSA copper mine, which is a deep underground copper mine but very high grade. We do believe the two dovetail. CSA has a clear pathway to 40 000 copper tons per annum level and Eva will be 60 000 t of copper per annum. That is a pathway for Harmony to be at 100 000 t of copper per annum within about three years from today. Most importantly, that excludes the copper we'll be getting from the Wafi-Golpu Tier 1 copper/gold project, which on a standalone 100% basis, will produce 180 000 t of copper per annum, with more than 200 000 oz of gold, and that's a mine that we own 50:50 with our JV partner, Newmont. Minerals Council South Africa has been saying South African mining is falling behind other mining jurisdictions on the modernisation front. Let me first acknowledge the work that the Minerals Council is doing. The Minerals Council is doing phenomenal work for the mining industry in South Africa and Harmony is a key contributor to that work and an active participant. I do think some of the modernisation lags are a little bit structural. We do mine these deep underground orebodies. It is slightly easier to modernise surface pr...

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 Parliamentary Secretary to the Minister of Energy and Natural Resources Claude Guay has affirmed that, in a time of uncertainty and changing trade and economic relationships worldwide, Canada continues to expand and strengthen its network globally, including in Chile. In meeting with industry leaders from Chilean mining companies Codelco, Antofagasta, Corfo, Teck Resources and MineSense, as well as senior Chilean government officials, at the Conference of Mining Ministries of the Americas last week, Guay confirmed the two countries continue to advance responsible resource development, strengthen critical mineral supply chains and create new opportunities for trade and investment. He said the growing ties between Canada and Chile are evidenced by a recent five-year agreement signed between Codelco and Canada's MacLean Engineering to accelerate innovative technologies for underground mining operations; Canada's support for critical minerals capacity building, including training, across Latin America and the Caribbean through the G7 Minerals Skills Network; and the Canada-Chile Eureka project, to which Canada is contributing $450 000 for research and development of network analytics and Internet of Things connectivity solutions. The National Research Council of Canada's Industrial Research Assistance Programme is also collaborating with Global Affairs Canada's Trade Commissioner Service to lead the Canadian Cleantech in Mining Mission in Chile. This involves helping 12 innovative Canadian companies to enter the Chilean market, strengthen their commercial readiness and accelerate the deployment of scalable and cost-effective solutions to address key challenges in the Chilean mining sector such as water management, decarbonisation, energy efficiency and environmental performance. Guay further highlighted in a statement issued on August 28 the progress being made under a Canada-Chile Memorandum of Understanding on Critical Minerals and Sustainable Development of Minerals and Metals, signed in 2024, which includes initiatives to support innovation, skills development and commercial partnerships. For context, Canada is the largest foreign investor in Chile's mining sector, having C$43-billion worth of assets in the country held by 52 companies. In turn, Chile is the second-largest destination for Canadian mining assets abroad. Guay said his meetings with government officials and industry leaders reinforced Canada's role as a reliable global partner and opened opportunities for further collaboration between Canada and Chile. "By advancing cooperation with Chile and countries across the Americas, Canada is diversifying our international partners, identifying reliable markets for our minerals and businesses, strengthening critical minerals supply chains and supporting long-term economic prosperity and security for Canadians," he concluded.

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. Northam Platinum is looking to establishing the Eland mine as South Africa's first platinum group metals (PGM) mine operating solely on renewable energy. In addition, Eland is water positive, and the phasing out external water sources before the end of the decade would turn it into a green mine, an upbeat Northam Platinum CEO Paul Dunne emphasised on Friday August 28 when the Johannesburg Stock Exchange-listed PGMs and chrome mining company presented a stunning set of financial results and paid record dividends. "We will continue to roll out our renewable energy programme," Dunne said during the presentation, at which he described the commissioning of the first 80 MW solar farm at the Zondereinde mine as a major milestone. "Each year, this facility will produce 220 000 MW hours of secure, behind-the-meter electrical energy, reducing annual carbon emissions by 240 000 t, and reducing Zondereinde's energy costs by 15%." In addition, progress had been made, he said, on five other projects under construction, including the Karreeebosch wind farm, the Thakadu solar farm, and the solar farm at the Eland PGM and chrome mine. The Karreebosch wind farm is a 140 MW renewable energy project located in South Africa's Karoo region between Matjiesfontein and Sutherland and Thakadu photovoltaic plant is a 255 MW utility-scale solar project near Klerksdorp, in North West. Northam will soon begin to install 360 MW hours of industrial batteries across the operations, Dunne reported during the company's results presentation covered by Mining Weekly. Once all the project were fully operational in FY28, the company would be delivering more than 1 000 GW hours of energy, reduced carbon intensity by 70% and shave about R1-billion a year off its current electricity bill. "The economic benefit of these initiatives ensures their true sustainability," Dunne commented. He said that batteries would allow Northam to extend the solar benefit into the peak tariff periods and thereby maximise savings. Northam plans to install 250 MW of battery storage at Zondereinde, which would improve energy security and enable peak tariff arbitrage. "It's worth noting that peak tariff energy represents only 14% of energy use, but 44% of energy cost. Hence, the arbitrage opportunity," he explained. The build programme at Karreebosch has now erected 22 of the 25 towers, and remains on track for commissioning next year. "This particular facility will deliver around 460 000 MW hours into the Eskom grid, and we will elect, on a monthly basis, where to apportion this power between the operations. "This will reduce carbon emissions by over half a million tons per annum, and group energy costs by a further 10%," Dunne reported Displayed during the presentation were renewable energy facilities that included Thakadu, which is scheduled to be commissioned in mid-2027 – "again, energy delivered to the grid, where we elect to apportion the energy through a wheeling agreement with Eskom on a monthly basis as we choose across the operations. Pointing out the Eland solar and battery site, he said: "We've just started clearing for construction here, and this will initially be 20 MW, growing to 40 MW, producing initially 55 MW hours of energy, and displacing 60 000 t of carbon per annum. "At Eland, we have a truly unique opportunity to create the first PGM mine in South Africa, operating solely on renewable energy. In addition, Eland is water positive, and we will phase out external water sources before the end of the decade, truly becoming a green mine. "We are looking for more renewable opportunity. At this stage, we're only 70% abated on carbon, and there is more we can do but for the moment, that's the project work we do have," Dunne added. Northam's op...

Mining Weekly Editor Martin Creamer discusses the CSIR’s recent test of digital rock-sounding technology at Harmony Gold’s Mponeng mine; Minerals Council South Africa is positive about the launch of the third phase of South Africa’s Government-Business Partnership; and the next-g

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 metals producer Glencore Canada has reached key shaft development milestones at the Onaping Depth project at the Craig mine, in Subdury, allowing it to access a new orebody for the first time. This marked a key step toward production ramp-up at the Craig mine and eventual project completion in 2027. First ore from Onaping Depth is expected later this year. Onaping Depth is part of Glencore's Sudbury Integrated Nickel Operations, with the orebody poised to deliver high-grade nickel and copper ore from almost 2 600 m below surface - the deepest that Glencore Canada has dug in Sudbury. The mine also marks the first new mine to be developed in the Sudbury basin in more than a decade. Onaping Depth will operate one of the most advanced battery-electric underground mining fleets in the world. The all-electric fleet ranges from the mining equipment that will drill and prepare the mining face and extract, to service and support vehicles moving people, supplies and equipment. "Eliminating diesel emissions means less ventilation and cooling requirements, which are traditionally among the largest energy demands in underground mining. The use of battery electric vehicles and the benefits they bring is helping to support both Glencore's broader sustainability objectives and Canada's net zero ambitions," says Glencore Canada COO Peter Xavier. He adds that together with the Craig mine concentrator and smelter, the Onaping Depth project supports the company's long-term presence in the region and strengthens the future of mining in the Sudbury basin. By extending mining activities to greater depths, Glencore Canada is unlocking new opportunities and resources that will contribute to the continued success of its operations. Xavier explains that operating at this depth has been made possible through the company's commitment to innovation, including investments in battery electric equipment, remote operations, and automation technologies. "Reaching these important project milestones is also a testament to the dedication and collaboration of our employees and contractors, who collectively contributed more than nine-million work hours without a lost-time injury. This outstanding safety performance highlights our unwavering commitment to ensuring that every aspect of the project is completed safely." Almost $2-billion has been invested on the Onaping Depth project since 2019. Once fully operational, the mine will support more than 400 permanent jobs and extend nickel production in the Sudbury Basin beyond 2040. Canada Environment, Climate Change and Nature Minister Julie Dabrusin says Onaping Depth is poised to strengthen Ontario and Canada's position as leading suppliers of responsibly produced nickel and copper, which are key components in technologies that support electrification, advanced manufacturing and energy security.

Harmony's underground gold mines producing at 38% free cash margin 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 financial year 2026 (FY26), Mponeng and Moab Khotsong, the high-grade South African underground operations of Harmony Gold, produced 15 t at 9 g/t with a 38% free cash flow margin. Mponeng, the world's deepest mine, was the primary driver of this performance as Moab Khotsong moves into an ore gap. Moreover, performance from the South African underground optimised operations has also strengthened year-on-year. These assets produced 17 t of gold and margins expanded to 25%, lifting adjusted free cash flow by phenomenal 284% to around R9-billion. In addition, Harmony's surface and retreatment assets contributed 7 t at a solid 46% margin. Harmony's big gold retreatment operations provide "low-risk, high-margin ounces that generate meaningful cash flow by recycling old tailings storage facilities", Harmony CEO Beyers Nel reported at the results presentation of the Johannesburg Stock Exchange-listed company for the 12 months to June 30. The company's focus going forward is on delivering and unlocking value embedded in what it owns. Expected beyond 2030 are, stronger margins, lower real unit costs, and growing free cash flow. "Every decision we make is aimed at either improving safety, expanding margins, protecting cash flows, and creating long-term value through disciplined capital allocation. "As our portfolio continues to evolve, we're pleased that the solid FY26 results reflect this quality and the opportunity inherent in our reserve base. "It's this consistency that turned a higher gold price into cash certainty. We delivered rather exceptional earnings growth alongside record shareholder returns. "Our headline earnings per share increased by 87% to R43.63 per share, and the company has declared a record final dividend of R7. 50 per share for a total of R8.2-billion for the financial year. "Our lost time injury frequency rate of 5.05 per million hours worked is the lowest in Harmony's 76-year history," Nel added during the presentation covered by Mining Weekly. INTERNATIONAL ASSETS Hidden Valley produced almost 6 t of gold at an all-in sustaining cost of around R660 000/kg, or $1 200/oz with its adjusted silver-supported free cash flow margin increasing to 68%. In the eight months since acquisition, the now fully integrated CSA produced 18 200 t of copper at $2.47/lb providing a 22% free cash flow margin. Harmony FD Boipelo Lekubo highlighted FY26 as a record year on financial metrics such as revenue, which increased by 34% to a record nigh R100-billion. Net profit increased by 102% to R30-billion and headline earnings per share increased by 87%. "That step up is evidence of the operating leverage in our portfolio," Lekubo pointed out. Group operating cash flow rose by 48% to R33.6-billion and adjusted free cash flow by 54% to a record R17-billion. Cash and cash equivalents total R8.6-billion, alongside the CSA acquisition. Strong free cash flow supported a record final dividend of R4.8-billion, lifting the full year dividend to R8.6-billion, a yield of around 3.5% based on the closing share price on August 25. "Alongside shareholder returns, it is vital we remain capable of funding our future. During the year, we implemented a funding platform to support the next phase of growth," Lekubo reported. GOLDEN FOUNDATION In Harmony, Gold remains the foundation while copper strengthens the portfolio, adding diversification, resilience, and future growth. "But this strategy is not about volume. It's a strategy about value, value created through higher quality assets, better returns, and disciplined capital allocation," Nel explained. "Growth always matters, but only if it strengthens the portfolio and creates long-term value.. Every ...

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. Australian iron-ore and lithium miner Mineral Resources (MinRes) has reported its strongest financial result in its 20-year ASX-listed history, with record underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) having increased by 183% year-on-year to $2.6-billion. The group's underlying net profit after tax increased by 831% year-on-year to $822-million, while it generated significant free cashflow of $849-million, in the year ended June 30. MinRes declared a full-year dividend of $0.83 apiece, representing a 20% underlying net profit after tax payout ratio. The group reduced its net debt by $1.1-billion to $4.3-billion in the year under review, which reduces its net debt-to-underlying Ebitda margin from 5.9 times in the prior year to 1.7 times in the reporting year. Group attributable iron-ore production was 341-million tonnes in the reporting year, accounting for $689-million of underlying Ebitda, while lithium production was 34.4-million tonnes, accounting for $289-million of underlying Ebitda. Overall, mining services underlying Ebitda reached $976-million owing to record volumes, with iron-ore remaining the largest contributor. Record volumes across all divisions and improved commodity prices supported record revenue of $6.5-billion for the group, which marked a 44% year-on-year increase. For chairperson Mal Bundey, the year was one of meaningful progress on balance sheet priorities and governance, which, coupled with years of strategic investment, resulted in record financial and operational results. MD Chris Ellison points out that the Onslow Iron operation achieved nameplate capacity of 35-million tonnes a year in August 2025, just three years after a final investment decision on the project was reached. The company plans to operate Onslow beyond nameplate capacity, to restart the Bald Hill lithium operation and ramp it up to nameplate capacity, as well as increase volumes at the Mt Marion lithium mine through a new flotation plant and underground mining in the new financial year. "The arrival of transhippers six and seven has increased Onslow's installed capacity towards 40-million tonnes a year and ensures sufficient redundancy as we rotate the fleet through maintenance. "Further, following years of investment to improve plant recoveries and reduce costs, our three lithium assets are well placed to capitalise on improved prices as demand is driven by energy storage and the transition to electric vehicles," Ellison explains. At the Wodgina lithium operation, after several years of increased stripping, MinRes expects clean ore to feed all three trains from the second quarter of the 2027 financial year and to increase sales volumes by between 14% and 23%. "Our priorities for the 2027 financial year are to achieve guidance across all divisions, execute low-risk, high-return brownfield investments, continue to strengthen the balance sheet and ensure MinRes is positioned for a next phase of growth within its significantly improved governance frameworks and capital allocation model," Ellison states. MinRes has set its 2027 financial year guidance at between 370-million and 390-million tonnes for the mining services division, which includes attributable iron-ore and lithium 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. South Africa's Exxaro Resources is reviewing what the mine of the future could look like amid a modernisation drive, Exxaro CEO Ben Magara pointed out in response to Mining Weekly during a media question-and-answer session, with opportunities being created for innovation and technology, including AI. "We're really driving the modernisation of mining and reviewing things around what the mine of the future could look like," Magara reported. The way Exxaro is providing green electrons goes beyond modernisation into crucial climate change abatement. The latest example is the commissioning by this Johannesburg Stock Exchange-listed company of its Lephalale solar project, the LSP, a 68 MW PV facility built to supply clean, behind-the-meter energy directly to Exxaro's Grootegeluk coal mine in Limpopo province. Alternating current is generated by 129 024 solar panels across 185 ha with the R1.7-billion investment funded by Cennergi, Exxaro's agile renewable-energy subsidiary. Commercial operation started in April with the official LSP inauguration taking place in July. Close to a third of Grootegeluk's electricity is now green energy, which brings with it a reduction in carbon emissions and a saving in electricity costs. "The 68 MW we're putting into Grootegeluk from the Lephalale solar project is about 30% of our consumption on that mine, and on that 30%, we're now making carbon emission savings of about 22%, but the electricity savings are about R100-million on the 30% power contribution coming from the Lephalale solar project." Cutting diesel consumption further with truck pantographs and overhead trolley lines is also under scrutiny. "We're looking at the trolley lines that we can use for the trucks in order to be more efficient and bring technology to drive not just productivity but also capital emissions reductions." When a truck connects to the overhead trolley line, it shifts power from the onboard diesel generator directly to the electric wheel motors, dropping the engine to an idle and increasing speed on grades. "Our plans are definitely to bring in battery energy storage systems, but also in the phase two additional panels. So, if we can drive that with the technology that we are applying on our trucks, the pantos or the trolley line that you can use, we believe we can actually even create more savings in diesel, which is more the Scope 1 emissions than just the Scope 2. "All our mines are currently looking at life extension opportunities, so if we can make sure each mine has a minimum of 20 years' life, it fits the kind of power purchase agreements you can get with solar. "So our intention, as part of decarbonisation, is that our mines could actually all go onto solar and wind energy, but obviously you still need baseload of coal when you don't have wind or solar. "But bottom line is, we're still on target for our 40% reduction in emissions by 2030, 75% reduction by 2040, and carbon neutrality by 2050. "Manganese now coming on board is also presenting itself for us to drive our decarbonisation. Again, it's intended to make sure that our diversified portfolio will end up providing earnings from future-facing minerals and renewable energy above 50% of our total earnings without reducing coal, and that's the strategy." On the technology front, Exxaro is replacing some of its old trucks. "We are buying about seventeen 220 t trucks, and they've got much better fuel technologies, even better for the operator when he's on that machine. So really we're harnessing the opportunity for technology that can take us to the next level. "And on the AI side, I think there are many opportunities, even in ore sorting. If you look at providing the machine learning you get from AI, you can do machine sorting ...

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 Yindjibarndi Indigenous group said on Wednesday it had lodged an appeal with the federal court over the amount of compensation awarded against Fortescue for mining on their lands without an agreement since 2012. The Yindjibarndi people brought a claim against the miner and the Western Australian state government for A$1-billion ($718-million) in cultural loss and in excess of A$800-million in economic loss, arguing it should be paid a share of the profits from the mine. An Australian court in May ordered Fortescue, the world's fourth-biggest iron-ore miner, to pay A$150-million in compensation to the group for cultural losses caused by mining. It also awarded A$136 757 for economic losses, and A$217 152 in compound interest on the economic loss amount. The decision marked one of the largest ever payouts in Australia's history brought under native title laws recognising Indigenous rights and interests in certain parcels of land. On Wednesday, the Western Australia Attorney General Tony Buti said the state government had also filed an appeal of the decision. "Native title compensation is a complex and emerging area, and it is important that we have clarity on the law to support future negotiations and native title settlements across the State," he said in a statement. Australia is the world's largest iron-ore producer, most of which comes from Western Australia's Pilbara region which is the traditional home of dozens of Indigenous groups. Miners have been updating their agreements with these groups since Rio Tinto destroyed two culturally significant rock shelters at Juukan Gorge in 2020, triggering a reckoning about cultural heritage damage and compensation. Yindjibarndi Ngurra Aboriginal Corporation (YNAC) CEO Michael Woodley said YNAC's appeal related to the amounts awarded by the court for both economic and cultural loss. The group argues the court should have tied its compensation to typical royalty payments under Pilbara native title agreements. Instead, it assessed economic loss based on the value of the land, but disregarded any value for the iron-ore deposits. It also argues that it is entitled to compensation for social division in its community caused by the mine. In its full judgment, the Federal Court found that significant damage had been done to Yindjibarndi song lines and other areas of cultural heritage, including 240 sites designated by Fortescue as heritage places, of which 124 had been completely destroyed. Song lines are routes of cultural significance across the country. The court noted that this damage was legal and approved through government processes, but without the approval of YNAC, which holds exclusive native title rights over the land. Fortescue has continued to mine on Yindjibarndi native title land since 2012 without an Indigenous Land Use Agreement or any other agreement with YNAC, the group said. Fortescue declined to comment but has previously said it sought to reach settlement with YNAC for 15 years and has paid the awarded sum.

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- and TSX-listed FireFly Metals has cemented a strong financial position with a new A$180-million Australian institutional placement and Canadian bought deal financing which it intends to use for advancing the Green Bay copper/gold project, in Canada. The company will issue about 101-million fully paid ordinary shares at a price of A$1.78, or C$1.76, apiece. The equity raising, which entails a A$150-million ASX institutional placement and a Canadian 'bought deal' private placement of A$30-million, or C$29.6-million, will support early project works, procurement of long-lead items and a feasibility study on a 1.8-million-tonne-a-year processing scenario for Green Bay. FireFly is also undertaking a prefeasibility study on a larger 4.6-million-tonne-a-year processing scenario and further resource growth. A final investment decision on Green Bay is expected by mid-2027. "The raising ensures that we can continue unlocking the value of Green Bay in an expedited manner. This strategy involves pursuing several avenues of growth and development in parallel, ranging from ongoing exploration through to feasibility studies and ordering long-lead items. "We can implement this rapid value creation strategy knowing we have a very strong balance sheet which enables us to capitalise fully on the exceptional asset we have at Green Bay and the huge macro-opportunity emerging in the copper market," says FireFly MD Steve Parsons. Moreover, FireFly intends to invite eligible shareholders to participate in a non-underwritten share purchase plan to raise an additional A$10-million at the same offer price as the institutional placement. FireFly's preliminary economic assessment (PEA) on Green Bay establishes the project's potential as one of the best undeveloped copper projects in the world based on its high-grade resource, production profile, growth outlook and superior financial returns, Parsons explains. In the PEA's base case production scenario of 1.8-million tonnes a year, or 4 800 t/d, the restart of production at Green Bay Ming mine for a capital cost of A$513-million has an after-tax net present value (NPV) of A$2.2-billion and an internal rate of return (IRR) of 42% over an initial 32-year mine life. The payback period is estimated to be 1.9 years. In this scenario the project can produce 50 000 t of copper-equivalent over a 14-year period at steady state, generating after-tax yearly free cashflow of about A$290-million. In the 4.6-million-tonne-a-year, or 12 500 t/d, scenario, the after-tax NPV grows to A$3-billion and the IRR reaches 40% over an initial 22-year mine life. This scenario anticipates production of 90 000 t/y of copper-equivalent metal over an 11-year period at steady state, which can generate A$550-million of after-tax free cashflow every year. For expansion capital of A$476-million - which can mostly be funded from the 1.8-million-tonne-a-year base case cashflow - the expanded production scenario has a payback period of 3.7 years. The Green Bay project is underpinned by a revised independent mineral resource estimate of 60.2-million tonnes grading 2.4% copper-equivalent in the measured and indicated resource categories, and a further 23.5-million tonnes grading 2.5% copper-equivalent in the inferred category. Parsons confirms that continued expansion of the upper Ming mine level high-grade volcanogenic massive sulphide and core zone has the potential to significantly extend high-grade production beyond peak years and further enhance project economics earlier in the mine life. FireFly currently has six drill rigs focused on underground high-grade expansions for further resource growth. On a district scale, the company is also drilling on several high-priority historical copper and gold 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. South Africa's Council for Scientific and Industrial Research (CSIR), through the Mandela Mining Precinct's advanced orebody knowledge programme, has completed an underground proof-of-concept field test of an innovative acoustic rock-sounding application at Harmony Gold's Mponeng mine. Mponeng is the deepest mine in the world. The field trial was concluded in collaboration with the mine's rock engineering team. It is described as marking an important step towards the digitalisation of underground workplace examination and fall-of-ground (FoG) risk management practices. "The Mponeng field test provided valuable real-world insight into how the acoustic rock-sounding application performs in an underground mining environment," CSIR project lead Heinrich Greeff reported in a release to Mining Weekly, in which he added that it confirmed the technical feasibility of the concept while also identifying the practical refinements required before operational deployment. "Innovation plays a critical role in our drive towards safer mining. The successful field test at Mponeng demonstrates the potential of digital technologies to strengthen workplace examinations and support informed ground control decisions. We're pleased to collaborate with the CSIR and other technology partners in exploring practical solutions that can contribute to improved underground safety," Harmony Gold added. Barring and rock sounding remain critical activities used by mineworkers to identify and remove potentially loose or hazardous rock. While experienced personnel are highly skilled in recognising sounding responses, interpretation can vary between individuals and may be influenced by environmental conditions such as underground noise and fatigue. The acoustic rock-sounding application aims to support existing workplace examination practices by providing a consistent, data-driven assessment of acoustic responses generated when rock is struck during sounding activities. Developed through a collaborative research initiative between the CSIR and Peralex Electronics, the application uses acoustic signal processing and machine-learning techniques to analyse rock-sounding responses and classify them according to characteristics associated with solid or potentially loose ground conditions. The technology is intended to complement, rather than replace, the expertise and judgement of trained underground personnel. The Mponeng field test successfully demonstrated the technical feasibility of the concept under real mining conditions. Core application functions, including underground audio recording, acoustic classification, confidence scoring, event logging, offline operation and data export, were successfully evaluated. The trial also provided valuable practical insights that will guide future development and optimisation of the technology. By digitally capturing and storing acoustic strike data, the system establishes a foundation for trend analysis, hazard tracking and future integration with spatially referenced ground control and risk management systems. The long-term vision is to develop a platform capable of supporting proactive ground control decisions, workplace examinations and rock engineering reviews through enhanced hazard intelligence. FoGs remain one of the most critical safety risks in deep-level mining. The acoustic rock-sounding application contributes to FoG risk management by supporting: more consistent interpretation of acoustic rock responses; improved digital recording of barring and sounding activity; future auditing of where and how sounding has been conducted; development of datasets that can support improved model training and future hazard intelligence; andpotential future integration with spatial positioning sys...

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 UK's review of its zero-emission vehicle mandate could provide some support to automotive palladium demand If manufacturers are given greater flexibility over the pace of battery electric vehicle (BEV) adoption, Heraeus states in its latest precious metals review. In a policy review that could see the UK follow the EU in easing requirements, the UK has embarked on consultation regarding the appropriateness of its current annual zero-emission targets remaining in place as BEV sales fall short. Hybrid vehicles are likely to be among the main beneficiaries. Their 37.7% share of UK registrations in the first six months to June 30, with plug-in hybrids adding a further 13%, is already significant. This mirrors the European market, where hybrid electric vehicles were also the most popular powertrain in the same period, with a 37.3% share of European Union registrations. Greater regulatory flexibility could therefore prolong demand for palladium-containing autocatalysts as consumers transition through hybrid vehicles rather than directly from internal combustion engine vehicles to BEVs. However, this would slow the erosion of automotive palladium demand rather than reverse its longer-term decline as the market moves towards zero-emission vehicles, Heraeus points out in a release to Mining Weekly. Autocatalysts, also known as catalytic converters, are vehicle exhaust devices that use platinum group metals (PGMs) to transform harmful engine gases into harmless atmospheric elements. In the first half of this year, battery electric vehicles accounted for 25% of UK new car registrations, 8% below the headline 33% mandate target for 2026, although manufacturers have several compliance flexibilities available. Remaining unchanged are the UK commitments to phasing out new conventional petrol and diesel cars by 2030 and require all new cars and vans to be emission free by 2035. Under the current mandate, 33% of manufacturers' new car registrations must be zero-emission in 2026, rising to 80% by 2030, with petrol, diesel, hybrid and plug-in hybrid vehicles counting as non- zero-emission vehicles. Palladium's recent price rally has stalled after failing to hold above resistance. The price climbed from around $1 150/ oz in late June to almost $1 400/oz in early August, but has since fallen back and is currently testing resistance around $1 335/oz. Palladium's 100-day moving average at about $1 350/oz. PLATINUM BREAKS RESISTANCE Platinum, Heraeus points out, broke resistance around the $1 800/oz price mark after extending its recovery from July lows. The price has risen from around $1 550/oz in early July and briefly moved above $1 900/oz last week for the first time since June, but has so far struggled to hold above this level. The 200-day moving average, currently at around $1,920/oz, could add resistance to a further move higher. A sustained move through this area would strengthen the recovery. RHODIUM, RUTHENIUM, IRIDIUM The prices of rhodium, ruthenium and iridium PGMs have remained flat, with rhodium at $9200/oz, ruthenium at $1 745/oz and iridium at $8 300/oz. Proton exchange membrane (PEM) electrolysers use iridium and platinum catalysts, while ruthenium could also benefit if emerging lower-iridium, ruthenium-based anode technologies achieve commercial adoption. GOLD Gold prices rallied to their highest level since early June last week after breaking above recent resistance. Gold prices topped $4 600/oz on August 21 as prices once again moved higher after a couple of weeks of consolidation. This mirrors the early-August rally where gold prices rose around 7%, after having spent the whole of July in a tight range near their yearly lows around $4 000/oz. The Bank of Korea has made its first gold investm...

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. Natrium Redox Technologies, a green technology startup based in Britain, said on Monday it had made a firm proposal to the Tasmanian government to acquire and restart Australia's only manganese smelter, to supply global battery and electric vehicle markets. EY Parthenon said last month the Liberty Bell Bay (LBB) Smelter would close after a proposed sale fell through. The smelter, formerly owned by British industrialist Sanjeev Gupta's GFG Alliance, entered voluntary administration in March and liquidation this month after suspending operations mid-last year. "We have engaged with EY Parthenon and the Tasmanian government on this proposal for six months. We have also briefed the federal government," Natrium Redox Technologies said in a statement. "Our restart proposal seeks shared input of funds with government to the level of A$15-million ($10.75-million) for a 16-week restart period and a continuation of the existing electricity contract." In a statement, Tasmanian Business Minister Felix Ellis said potential pathways for the site had been put forward, but no transaction has been completed and no commitments were made. "EY currently controls the site as liquidator, which includes decisions about its sale," he said. EY Parthenon had no immediate comment. Natrium Redox Technologies said it planned initially to use conventional smelting techniques to restart the smelter before building a pilot plant that would use new technology to produce high-purity, low-emissions manganese powder. The process uses liquid sodium in place of coking coal to strip oxygen from manganese ore. It operates at lower temperatures than traditional smelting and does not produce carbon emissions. The new technology would add 20% to 40% to the site's production and lift the smelter up the value chain from being a conventional alloy smelter into one of the highest-value manganese operations in the world by producing battery-grade materials, the company said. "Battery grade materials sell for a far higher price than conventional alloys, securing LBB's financial future and ensuring it remains a strategically important critical minerals asset for Australia." Its proposal would provide more than 200 jobs previously linked with the smelter, as well as secure others during construction, Natrium Redox Technologies said. It also has a proposal to reprocess a A$210-million environmental liability that has accumulated from decades of slag and waste, removing environmental liabilities from the government, it said. The company emphasised that time was of the essence because the longer furnaces are idled, the harder and more expensive a restart would become.

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. Minerals Council South Africa has responded exceedingly positively to the launch by President Cyril Ramaphosa of the third phase of South Africa's Government-Business Partnership for Growth and Jobs, which marks the next chapter of a joint effort between government and business to accelerate inclusive economic growth, unlock investment, strengthen confidence and create jobs. The goal is to lift South Africa's economic growth to 3% by 2030 and create one-million jobs. (Also watch attached Creamer Media video.) Unlocking R50-billion in capital currently tied up in planned projects facing delays has been flagged along with restoring investor confidence in mining, which has been singled out as the major driver of economic growth. Phase three will be about deepening implementation, embedding reforms already undertaken to ensure that progress cannot be reversed. "This phase must be defined by disciplined execution. Every workstream must have clear objectives, measurable targets, firm timelines and accountable leaders. Progress must be monitored regularly and reported transparently. Where implementation falls behind, we must intervene rapidly. "Where policies or regulations are holding back investment without serving a legitimate public purpose, they must be reviewed. Where institutional capacity is weak, it must be strengthened. "Where corruption or vested interests obstruct progress, they must be confronted. We must maintain the highest standards of governance and public integrity," Ramaphosa emphasised at the launch. Commenting on the development, Minerals Council South Africa president Paul Dunne said in a video release to Mining Weekly: "Our President has just launched the Government-Business Partnership phase three, which will be focused on inclusive economic growth, jobs, and confidence. Mining will take its rightful place on the programme. As you all know, we're a very strong economic force, a primary industry with a strong economic multiplier and an excellent capacity to create real jobs." Minerals Council South Africa president CEO Mzila Mthenjane, who is also the mining workstream's Focal Area Lead, added: "Really happy this afternoon to be at the phase-three launch of the partnership, where mining is one of the four growth drivers that has been identified and it is on the list of sectors that will be very key to driving South Africa's future economy. "What is really exciting about this is the confidence that it's showing in the success that has been achieved so far with electricity as well as logistics reform and we're also seeing the progress that is being made on crime and corruption. "It's really exciting for mining. We've always had a huge sense of belief and conviction in the ability of mining to deliver significant growth and benefit to society in terms of employment creation, in terms of livelihood support, looking at the multiplier effect. "Of course, in this day and age of demand for the minerals, not only for technology but also for infrastructure within South Africa, in Southern Africa, this bodes very well for mining going forward over the next 20 to 30 years, and that is really the outlook that we have, that mining over those next 20 to 30 years will be delivering significant benefits for South Africans," Mthenjane pointed out. Minerals Council South Africa senior executive Shamini Harrington described mining as one of South Africa's greatest opportunities for the future. "Its inclusion in phase three of the partnership recognises that unlocking growth, investment and jobs depends on unlocking the full potential of the sector. "At a time of rising global demand for critical minerals, the moment is definitely now. Working in partnership with the DMPR and government, we have a ...

Mining Weekly Editor Martin Creamer unpacks the latest updates on the $5.8-billion green hydrogen-ammonia project in Nelson Mandela Bay, Exxaro scaling its renewable-energy business; and DRDGold’s very good year.

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. Further to Massachusetts Institute of Technology spinout SiTration and global miner BHP's initiative to trial valorisation technology in the historic Globe-Miami mining district of Arizona, the companies have announced two pilot deployments at BHP's Copper Cities site. Starting this month, SiTration and BHP will validate continuous and autonomous production of copper from legacy mining water over one month using an initial small-scale pilot plant. A larger deployment is planned for later this year to produce up to two tonnes of commercial-scale copper cathodes over a two-month period. The historic Copper Cities site produced almost 400 000 t of copper between the 1950s and 1980s. Today, SiTration and BHP see an opportunity to recover value from legacy mining assets such as these, with the potential to create new pathways for domestic US copper supply. Through bench-scale testing using real feedstock from the site, SiTration has already demonstrated London Metal Exchange Grade A copper production without using any chemicals or generating new waste products. Additionally, preliminary tests have yielded energy consumption below 4 kWh/kg to recover copper from the diluted legacy mine water. SiTration CEO and co-founder Brendan Smith believes the American Southwest region houses billions of dollars' worth of copper in legacy mining water. "With global copper demand projected to grow by 70% by 2050, tapping into these resources is an excellent pathway to bolster domestic supply chains while producing copper at the bottom of the global cost curve." BHP legacy assets GM Kevin Ramsay adds that the Copper Cities pilot provides an opportunity to evaluate an innovative approach to recover copper from mining-impacted water while generating valuable technical and operational insights. "We are excited to work with SiTration to test this technology under real operating conditions and better understand its potential to recover value from legacy mining water sources."

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. Exxaro wants its growing energy and future-facing metals businesses to account for more than half of group earnings by 2030. "This is the business we are building for tomorrow," Exxaro CEO Ben Magara said while displaying a slide showing a diversified natural resources champion not only providing earnings and reducing carbon intensity, but also providing the career opportunities of many young and upcoming people "to make sure that we remain a key driver to our country's economy". (Also watch attached Creamer Media video.) "We're anchored by a long-life, high-quality and cash-generative coal business, a growing renewable-energy business, and future-facing metals that are built globally with significant manganese exposure. "As we look ahead, we'll continue to anchor our whole business, and we'll continue to drive in line with our prudent and disciplined capital allocation, underpinned by our people and the conviction to achieve zero harm – and to do this ethically. "These three business pillars of coal, renewable energy, and manganese and future-facing metals position Exxaro continuously as a consistent dividend payer, sustained for growth." For the first time, manganese formed part of that picture during the Johannesburg Stock Exchange-listed company's presentation of 15%-higher half-year cash generation to R6.1-billion on 7% higher revenue inflow. Coal exports are rising, the renewable-energy business is up 12%, and future-facing metals are no longer a mere heading as manganese adds to income. The Lephalale solar project (LSP), which reached commercial operation in April, is generating green electrons for Exxaro's Grootegeluk coal mine, the output of Matla is up 38% year-on-year. "This is an underground mine with continuous miners, extensive labour, and workforce underground, working safely and delivering a 38% improvement year-on-year - very pleasing," Magara reported. Coal export sales increased by 15% to 3.9-million tons as Exxaro was able to switch between domestic sales and export markets to take advantage of considerably higher export prices. "We continue to see encouraging improvements in rail performance at an industry level. Coal volumes railed to Richards Bay improved, placing this system on an annualised run rate of about 60-million tons. "Let me move to our next business pillar – Cennergi," Exxaro's renewable-energy subsidiary, said Magara, noting it is contributing 30% of Grootegeluk's energy requirements and reduced the mine's carbon emissions by 22%. It has also cut electricity costs by R100-million a year. Wind generation was lower owing to weaker Eastern Cape wind conditions, although plant availability was up and strong at 98%. With the LSP contributing 66 GWh, total renewable energy generation has increased by 12%. The benefits of having wind and solar dovetail are continuing to be seen in improved performance in earnings before earnings, taxes, depreciation and amortisation (Ebitda) numbers. The on-schedule and on-budget Karreebosch wind farm project continues to progress, with commercial operation expected in the first half of 2027. Exxaro CFO Riaan Koppeschaar said a further R864-million was invested in expansion capital, primarily relating to the completion of the remaining work at the LSP and the continued construction of the Karreebosch wind farm. R160-million was invested at Lephalale during the first half to complete activities ahead of the commissioning in April, and during the same period, R704-million was spent on Karreebosch. "Our energy projects are typically funded through a structure comprising 75% project finance and 25% equity funding, optimising returns while maintaining disciplined capital allocation," Koppeschaar said during the presentation covered by Mi...

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's green grid investment in Australia's northwest is set to provide surplus energy that it can sell to data centres as commercial demand develops, although it has yet to ink any supply agreements, it said as it posted in line results on Thursday. Fortescue is investing heavily in green energy, battery storage and research as it builds a large scale green energy grid in Western Australia's Pilbara region targeting 1.2GW to 1.5GW of total solar capacity by 2028. It had flagged an investment of $680-million to develop new green energy infrastructure in Pilbara in April. Fortescue Metals and Operations CEO, Dino Otranto, said the miner was looking to supply energy to third parties including data centres, but had not yet signed any offtake agreements. "Fortescue continues to invest in technology that will drive down the cost of green energy and help to deliver our own green metal projects," Otranto said on an earnings call. "We will develop it, test it, prove it, deploy it, and when the technology has a wider commercial market, we will also take it beyond Fortescue and sell it." The company said this week it had produced green iron at its Christmas Creek facility, nearly a year behind schedule. The grid supports Fortescue's decarbonisation targets, the most aggressive among Australia's major miners, and will also allow it to shave $2 per ton to $4 per ton of iron-ore costs, given Middle East instability that has raised prices for diesel. CHINA STATE BUYER Fortescue flagged that talks with China's State buyer China Mineral Resources Group (CMRG) could affect the price it gets for its iron-ore as the months-long negotiations drag on. Broker Jefferies, which has an underperform rating on the stock, said that risk was underscored in its fourth-quarter price realisation for iron-ore, falling to 84% from 88% for the full year. "We continue to engage with China Mineral Resources Group through respectful, patient and good faith negotiations," Head of Energy Agustin Pichot said on the call. Pichot added Fortescue was concentrating on making an agreement with CMRG, rather than considering using a single selling desk with its Australian peers for iron-ore to China. Fortescue declared a final dividend of 46 Australian cents per share, down from 60 cents a year earlier, and its lowest in eight years. It posted a 2.8% rise in underlying net profit attributable to $3.47-billion for the year ended June 30, broadly in line with the Visible Alpha estimate of $3.52-billion. Record annual shipments of 201.3-million metric tons and higher iron-ore prices helped Fortescue offset higher hematite C1 unit costs, largely driven by elevated diesel prices, and meet market estimates for annual earnings. Fortescue said it was served with a class action in July alleging workplace misconduct, including sexual harassment and sex discrimination, with potential damages not yet specified. The miner paid A$150.4-million ($106.95-million) on July 1 after the Federal Court made final orders in the legal proceedings for compensation to the Yindjibarndi people for cultural loss linked to mining on their land. Yindjibarndi Ngurra Aboriginal Corporation plans to appeal.

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. It's been a very good year for DRDGOLD, was the opening remark of CEO Niël Pretorius about the company's 4 839 kg gold production exceeding annual guidance and 85%-higher free cash flowing in spite of major R3.5-billion capital expenditure and a final R1-billion-plus cash dividend payout that roughly equalled the total market cap of the company when Pretorius did his first presentation 19 years ago. "The production was pretty pleasing," said Pretorius about coming within a hair's breadth of 5 t of gold production, which was roughly 5 000 oz higher than the top end of guidance thanks to "very smart management" of the throughput mix. (Also watch attached Creamer Media video.) Achieved was an average yield of just under 0.2 g/t gram per ton, which was a 2% increase on plants were working very efficiently. With the exception of a very short period in 2018 when the Johannesburg Stock Exchange-listed company needed to protect cash flows, DRDGOLD has never hedged and deliberately so. That placed it in a position to take full advantage of the 40% increase in gold price, which translated into revenue for the year of a 42%-higher R11-billion-plus. Cash operating costs for the year were under R1-million a kilogram, which was also better than guidance and a 7% increase year-on-year. Considering the number of double-digit increases that form part of the cost basket of gold production in South Africa, "this was testimony to some really good cost discipline", which translated into an 83%-higher, R6.4-billion operating profit. That informed the 89% headline earnings increase of R4.2-billion and strong 85%-higher R2.2-billion free cash flow, which is a very important parameter for DRDGOLD, because, as a dividend-paying company, generating cash is an important internal measure of efficiency. "We're talking final dividend of just more than a billion against free cash flow of R2.2-billion and capital expenditure of R3.5-billion and remember that a big part of our Vision 28 story is that at some point in future capital expenditure is going to become considerably smaller, and if the gold price holds up, will not have diminished significantly. "In fact, it could be significantly higher because remember, we're targeting about a ton of additional gold production…and as a dividend-paying company, start factoring in substantial portion of that into what's available for your dividend, and that's the DRD promise. "That's really what we're working towards at this stage, and we're hoping that it will find its way into how share price has been interpreted at some stage over the next few years, as we get closer and nearer to completion of Vision 28 subparts," Pretorius outlined in the financial year 2026 presentation of financial results attended by Mining Weekly. Ergo's production in the last six months of the financial year was exceptional. The East Rand operation lifted gold output by 150 kg a month at a time when the gold price was averaging R2 460 000/kg and ended up ended by increasing revenue on R8.1-billion for FY26 compared with last year's R5.7-billion."We couldn't have done it if we didn't have the exceptional teams," DRDGOLD CFO Henriette Hooijern pointed out. DRDGOLD COO Jaco Schoeman said: "I would just like to agree. Our operational staff, and our contractors and our consultants, everybody, right from the cleaning staff to the top to the board, everybody had to fire on all cylinders to achieve the results."

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation. Iron-ore major Fortescue has produced first hot metal at its Green Metal project at Christmas Creek, marking the first successful operation of its electric smelting process and a major step towards producing green metal in Australia. The pilot project was built to test new technology and develop a pathway for ultimately producing green metal using Pilbara ore. First hot metal means the project has successfully produced molten metal in its electric smelting furnace. As part of commissioning, this has initially been produced using a blended feedstock while the facility is progressively brought online. Commissioning of the project will continue in stages, allowing the team to safely test, refine and optimise the process before progressing to larger-scale production. Fortescue Metals CEO Dino Otranto says this is a significant milestone for its Green Metal project and another step towards producing commercial-scale green metal in Australia. "For decades Australia has exported iron-ore to the world. The next opportunity is to create more value from that ore by producing green metal here at home. "Australia has some of the world's best renewable-energy resources and one of the world's largest iron-ore industries. That's a competitive advantage we should be building on. If we don't, other renewable-rich countries will. "The real opportunity goes beyond green metal. It's about building a new industrial economy around Australia's renewable-energy advantage," he states. Otranto explains that nobody has solved green metal production using Pilbara ore at commercial scale yet, and that is the challenge that Fortescue is taking on.

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 $5.8-billion green hydrogen-ammonia project in South Africa's Nelson Mandela Bay has been a hard slog but there is light at the end of the tunnel. Mining Weekly can report the venture, for which a green hydrogen generating electrolyser and ammonia loop solution has already been selected, is "going really well" and developer Hive Hydrogen is expected to make "some very big announcements" at next month's Africa Green Hydrogen Summit in Cape Town. The Eastern Cape's special economic zone at the Coega port is the site of the project, where construction could potentially begin early next year and commissioning in December 2029. Hive Hydrogen South Africa chairperson is former Eskom CEO Thulani Gcabashe, whose Built Africa focuses on developing renewable-energy projects in South Africa under the Renewable Energy Independent Power Producer Procurement Programme. Backed by Hive Energy and Built Africa, Hive Hydrogen South Africa has since September 2019 been working on establishing a renewable energy-powered green hydrogen-derived ammonia plant capable of producing a million tonnes of product a year. The conclusion of environmental impact assessment work on Hive Hydrogen's 3 300 MW of renewable energy assets gave rise to environmental authorisation of the 1 000 MW Carissa wind energy facility, near Beaufort West. Carissa's permitting is the work of a partnership made up of Hive Hydrogen, project developer AMDA Developments, and Blue Crane Environmental, the independent environmental assessment practitioner responsible for leading the environmental impact assessment process. Coega is one of Hive's three green hydrogen schemes, the other two being Albamed in Spain and Gente Grande in Chile. Blended finance private equity fund SA-H2, which focuses on the green hydrogen value chain and the Southern African energy transition, has signed a development funding agreement with Hive. SA-H2, which combines public and private capital, has secured commitments from the European Commission under the Global Gateway, Invest International, South Africa's Public Investment Corporation, on behalf of the Government Employees Pension Fund, Sanlam Life, and the Industrial Development Corporation. The fund is also being supported by the Development Bank of Southern Africa. SASOL HYDROGEN SYSTEM COMMISSIONED Also in South Africa, chemicals and synthetic fuels producer Sasol has commissioned a platinum-based proton exchange membrane (PEM) hydrogen electrolyser system at its research and technology campus, in Sasolburg, in the Free State. In addition to Sasol's contribution, the electrolyser was developed with contributions from the Department of Science, Technology and Innovation's Hydrogen South Africa programme in partnership with the South African National Energy Development Institute and North-West University. Central to the deployment of the 2 kW PEM electrolyser system is the beneficiation of South Africa's platinum group metals, which were described by Science, Technology and Innovation Minister Professor Blade Nzimande as being key to fuelling industries of the future. The Minister added that the project would generate the knowledge required to support the commercialisation and wider deployment of green hydrogen technologies. China's green technology company Envision Energy is partnering Sasol around the study of a potential green hydrogen system also at Sasolburg. Ammonia Energy Association reports that China is continuing to lead the way in building early green hydrogen supply chains. In neighbouring Namibia, the African Development Bank has approved a $10million investment to help to kick-start Namibia's green hydrogen project, International Energy Summit reports on LinkedIn. The bank's funding is expected to he...

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 Group reported better-than-expected full-year earnings and declared its highest annual dividend in four years, boosted by record copper prices that cemented the metal's lead over iron-ore as the miner's biggest earnings driver. CEO Brandon Craig, who took the top job at the world's biggest listed mining company last month, underlined BHP's project pipeline that could boost its copper production by as much as 40% by 2035, even as production falls in the short term. "Copper, iron, steelmaking coal and potash are foundational to the way the world is developing. That is why we are moving as fast as we can and bringing these commodities to market," he told reporters. BHP on Tuesday reported a 30% rise in full-year underlying attributable profit of $13.2-billion for the year ended June 30, above the Visible Alpha consensus of $12.66-billion. It announced a final dividend of 99 cents per share, bringing the full-year distribution to $1.72 apiece, the highest in four years, the miner said. BHP shares rallied as much as 4.2% to a two-month high of A$64.79. "Loved the dividend, a big beat on that," said portfolio manager Andy Forster of Argo Investments in Sydney, which holds BHP shares. "Solid overall, and copper doing all the work," he said of the results, adding that BHP was emphasising longer-term growth, even though final investment decisions had not yet been made and capital spending was expected to rise by more than $1-billion next year. Copper prices have climbed to record highs above $14 000 a ton this year, triggered by the rapid pace of energy-hungry AI data centre buildouts and the global shift toward cleaner power, intensifying miners' race to secure high-grade copper assets. Craig said BHP always watched for market opportunities, but it was roughly five times more expensive to buy copper assets than build. The red metal, including byproducts such as gold and uranium, generated $18.19-billion in operating earnings in the year, surpassing iron ore's $14.53-billion as BHP's top earnings driver. BHP expects copper demand to grow to more than 50-million tons a year by 2050 from 34-million tons this year. IRON-ORE OPERATING EARNINGS RISE BHP's iron-ore business in Western Australia is facing challenges from industrial action, but Craig said the miner did not expect any negative effect from the first major strikes at Port Hedland in decades as talks continue on Tuesday. As for its biggest customer, China's state iron-ore buyer, BHP is focused on efficient markets, rather than forming a combined selling desk with other miners, Craig said. BHP's flagship Western Australia Iron Ore operations generated $14.67-billion in operating earnings in the year, up 2% from last year and in line with the Visible Alpha consensus of $14.75-billion. The miner said it had $3.5-billion remaining that it could unlock through active capital portfolio and asset management as part of a $10-billion opportunity it had identified. Most recently, Global Infrastructure Partners (GIP) invested $2-billion for a minority stake in the business' inland power network. The miner's net debt at the end of the 2026 financial year fell to $8.69-billion, below both the target range of $10-billion to $12-billion and the Visible Alpha consensus estimate of $9.1-billion. METALLURGICAL COAL SALE SPECULATION DOUSED Craig doused some reports that BHP could review its Queensland metallurgical coal operations for a possible sale over the next one to five years. He said the assets would be an important part of BHP's portfolio if markets developed as the miner expected. Reuters reported on Monday that Canadian uranium miner NexGen Energy was sharing information and "talking regularly" with BHP about its Rook I uranium project in Saskatchewan....

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. At a time when calls are being made for South Africa to modernise its mining sector, emerging researchers will on October 2 have a next-generation platform to explore the future of the minerals industry. The event is being hosted by South Africa's State-owned mineral and metallurgical organisation, Mintek, whose science convention for innovators (SCI) event will assemble emerging researchers across themes such as critical minerals, energy and innovation, emerging technologies, sustainability and the circular economy. Papers submitted to this year's SCI symposium reflect "the depth and diversity" of research taking place across the sector, Mintek stated in a media release to Mining Weekly on Monday, August 17. The range of perspectives includes research into rare earth element occurrence and mineralogical characterisation, precious metal recovery from mine waste, mineral collector interactions in upper group two ore flotation, and the use of biobased depressants in platinum group metals (PGMs) processing. Emphasised will be the importance of developing new approaches to extracting and processing minerals, while creating greater value from primary and secondary resources. The energy theme will cover renewable-energy applications in mining and processing, fuel cell technologies, energy storage, hydrogen technologies and energy efficiency in processes such as milling and pyrometallurgy. How emerging technologies can contribute to more efficient and sustainable mineral processing operations will be discussed and the emerging technologies theme will include AI, machine learning, process modelling, simulation, advanced process control, digital twins, smart operations, extraction technologies and materials development. Among the studies that demonstrate the increasingly important role of digital technologies in addressing complex challenges across mining and mineral processing are deep offline reinforcement learning for lead flotation circuit optimisation, as well as the development of an intelligent self-healing long-range mesh communication network for real-time underground mine safety and emergency response. The sustainability and circular economy theme will examine areas such as water treatment and management, sustainable water use, mine rehabilitation and closure, asbestos rehabilitation, carbon emissions reduction and decarbonisation. The potential for innovative approaches to turn waste streams into sources of value will be shown by research into the evaluation of antimony in mine tailings and the extraction of calcium and magnesium from concrete waste for mineral carbonation. The SCI, which will take place in Mintek's auditorium at 200 Malibongwe Drive, Randburg, is designed to promote knowledge exchange between emerging researchers and industry professionals, support the development of young researchers and encourage collaboration across institutions and disciplines. It takes place at a time South Africa's global mineral and metallurgical competitors are, in particular, committing capital to digitisation and automation as well as critical minerals and beneficiation. MODERNISATION SHOWCASE What came across strongly at last month's South African mining modernisation showcase event is that lessons are there to be learned from other global mining jurisdictions, particularly when it comes to 'enabling environment' and 'advanced technology'. South Africa's competitors were reported to be investing heavily in digitisation and automation, as well as in critical minerals and beneficiation. Research Institute for Innovation and Sustainability (RIIS) consultant Ashleigh Muller reported that South Africa's competitors are attracting considerable investment because of the high speed at which they are mode...

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 gold and copper producer OceanaGold plans to acquire Australia's Ausgold in a deal valued at A$776-million ($552.74-million), the companies said on Monday. The deal represents a premium of 27.7% to Ausgold's previous close on Friday and gives OceanaGold ownership of the Katanning project in Western Australia. Trading in Ausgold's shares was halted earlier in the day ahead of the announcement. Ausgold shareholders will own about 6% to 8% of OceanaGold upon completion of the deal. "This marks our first acquisition in Australia, and we are excited to build on the great work done by the Ausgold team to further optimize the development of the Katanning Gold Project for the benefit of both OceanaGold and Ausgold shareholders," OceanaGold CEO Gerard Bond said.

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. Anglo American has struck a yearlong supply deal with China's State-backed iron-ore buyer, joining BHP Group among miners that have finalised an agreement with the group. South African producer Kumba Iron-ore, part of Anglo American, reached a deal with China Mineral Resources Group Co to supply iron-ore to its mills from April 1 this year until March 31, 2027, according to a person familiar with the matter. The agreement doesn't include-ore from Anglo's Minas-Rio project in Brazil, which is not sold to China on a long-term contract basis, said the person, who didn't want to be named discussing confidential information. The world's biggest iron-ore miners, including BHP and now Fortescue, have faced a harder time reaching a deal with the Chinese buyer group due to their large portfolios of ore. CMRG represents more than half of China's steelmakers in procurement negotiations with global miners. Kumba confirmed to analysts on an earnings call in late July that it had reached an agreement with CMRG, without giving details about the length or the terms. Its-ore is a premium product with a higher iron content, of which around 37 million tons was sold in 2025, according to the company's results. Anglo's global head of sales and trading, Ebrahim Dadoo, told analysts on the call the company sells around 54% of its output into China. It also has volumes going into the country via spot sales and non-CMRG long-term contracts, so the volumes under the CMRG contract are "fairly small on our overall portfolio," he said. Bloomberg calculations put the potential volume of Kumba iron-ore going to CMRG at around 8 to 10 million tons based on confirmed sales, estimated spot sales, and the reported number of CMRG member mills. A spokesperson for Anglo American declined to comment further. CMRG didn't immediately respond to a request. "We've had very constructive engagements with CMRG, we've got an agreement in place with them as of the first of April, and that does impact our products that we sell to CMRG member mills," Dadoo said in a transcript of the call dated July 28. BHP faced restrictions and months of talks before it was able to agree to a yearlong deal with more yuan pricing, while FMG is currently in the midst of tense negotiations. The next hurdle is what happens when the deals come up for renewal next year, and whether CMRG will try to eke out more concessions.