Mining Weekly

The global mining industry is falling short in its efforts to decarbonise at a rate required to meet science-based targets, according to new research by consultancy dss+. As the industry moves towards 2025, intensified action to reduce emissions is urgently needed, says dss+ principal Gerhard Bolt, who highlights that decarbonisation will be a key focus at the Investing in Africa Mining Indaba 2025, set to take place, in Cape Town, in February.

Industry organisation Business for South Africa (B4SA) welcomes the release of the Network Statement as an exciting and significant milestone in the journey towards meaningful rail sector reform in South Africa. “The Network Statement represents a pivotal step in unlocking the potential of South Africa’s rail network through third-party access, which is one of several ways identified to bring private sector participation into the system,” says B4SA Transport and Logistics senior executive Ian Bird.

JSE-listed logistics company Grindrod, in a December 19 pre-closing trading update, said its focus going forward would be to drive growth in bulk handling, container handling, logistics capability and rail and transport, adding that demand for Grindrod's logistics service offering and its long-term business fundamentals remain strong. Earnings before interest, taxes, depreciation and amortisation (Ebitda) margin in its Port and Terminals segment remained healthy at 35% this year, down from 42% in 2023.

Integrated resource group Tharisa is managing a cybersecurity incident after detecting unauthorised activity on its network. The miner on December 19 confirmed that operations remain unaffected.

State-owned power utility Eskom has reported a R25.5-billion loss before tax for the financial year ending March 31, 2024, following a year marked by operational setbacks, financial strain and systemic inefficiencies. With 329 days of loadshedding and heavy reliance on costly open-cycle gas turbines (OCGTs) during the 2024 financial year, along with escalating municipal debt, the utility continued to face persistent challenges while working towards recovery.

The fourth edition of the Future Minerals Forum (FMF), to be held in Riyadh, Saudi Arabia, from January 14 to 16, is expected to play a key role in expanding and enhancing discussions on sector challenges, and providing practical solutions by bringing together key stakeholders, including governments, international organisations, business federations, investors, sector leaders and investors. This was highlighted by Saudi Arabia Industry and Mineral Resources vice minister Khalid Al-Mudaifer on December 17, speaking during a briefing outlining the FMF’s 2025 programme.

Natural resources group South32 expects to rebuild alumina stocks at its Mozal Aluminium smelter, in Mozambique, over the coming days if trucking conditions remain favourable. A national election in the country resulted in violent protests and road blockages in recent weeks; however, South32 reports that the road blockages have largely been cleared in recent days, enabling it to safely transport alumina from port to the smelter.

Trade and development finance institution the African Export-Import Bank (Afreximbank) has signed a project preparation facility financing agreement for an up to 200 MW private-sector, reservoir-based hydropower project to be located along the Lufira river, in the Democratic Republic of Congo (DRC). The bank has partnered with independent power producer Kipay Investments, which will develop, design, build, install, commission and operate, as well as manage, the hydroelectric power plant.

Multinational metals and mining group Sibanye-Stillwater has entered into a $500-million streaming agreement with Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada Corporation. The deal grants Franco-Nevada access to gold and platinum streams from Sibanye-Stillwater’s Marikana, Kroondal and Rustenburg operations, in South Africa, in exchange for an upfront payment of $500-million.

Namibia’s Ministry of Mines and Energy is investigating Xinfeng Investments for alleged illegal mining in the lithium-rich Erongo region. The ministry is accusing the company, which has an exclusive prospecting license through its joint venture with Orange River Exploration and Mining, of exceeding the scope of its permit by conducting unauthorized extraction of lithium, the department said in a statement Wednesday.

Trade union the National Union of Mineworkers (NUM) has signed a three-year wage agreement with Exxaro Coal Mpumalanga (Matla Colliery), with the basic salaries of employees to increase by 6.5% with effect from July 1, this year. The basic salaries of employees will increase by 7% with effect from July 1, 2025, and by 7% with effect from July 1, 2026.

New York- and Toronto-listed Barrick Gold Corporation on Wednesday, December 18, confirmed that its operating entities in Mali, namely Société des Mines de Loulo SA and Société des Mines de Gounkoto SA, have submitted a request for arbitration to the International Centre for the Settlement of Investment Disputes, in accordance with the provisions of their respective Mining Conventions with the State of Mali, to address matters of disagreement regarding the Loulo-Gounkoto complex. This step reflects Barrick’s commitment to adhering to established processes for resolving disputes in a fair and transparent manner.

ASX-listed Deep Yellow has updated the ore reserve estimate for its Tumas uranium project, in Namibia, reporting an 18% increase to 79.3-million pounds of uranium octoxide (U3O8) at 298 ppm. This is sufficient for a 30-year life-of-mine and includes proved reserves of 28.4-million pounds at 287 ppm U3O8 and probable reserves of 50.9-million pounds at 305 ppm U3O8.

Logistics group Grindrod has reached throughput of two-million tonnes of coal at its Navitrade terminal, in Richards Bay, with the support and collaboration of State-owned Transnet Port Terminals (TPT). The collective efforts of the TPT and Grindrod teams, as well as TPT’s strong quayside performance, have been instrumental in breaking previous records and positioning the terminal for continued success, Grindrod states.

Chemicals group AECI has appointed July Ndlovu and Billy Mawasha as nonexecutive directors of its board, with effect from July 1. "The addition of Mr Ndlovu and Mr Mawasha to the board of AECI is an exciting achievement that both strengthens our governance and further diversifies the directorship. Their invaluable leadership experience and deep knowledge of the mining industry will contribute significantly towards enabling the group's sustainable growth," says AECI chairperson Dr Khotso Mokhele.

The Competition Tribunal approval of the acquisition of ferromanganese major Metalloys in Meyerton, Gauteng, is raising hopes of a revival of South Africa’s manganese alloy potential. Metalloys, which has one million tons a year in manganese alloy capacity, has been on care-and-maintenance and has not been operating since March 2020.

Canada-headquartered Lucara Diamond Corp has named the 2 488 ct diamond recovered at its Karowe mine, in Botswana, in August Motswedi, which means a water spring or the flow of underground water that emerges to the surface offering life and vitality in the local Setswana language. It has also named the 1 094 ct diamond recovered at the mine in September Seriti, which means aura or presence in Setswana.

Global coal consumption is expected to hit a record high this year and stay near that level until 2027 as strong demand in Asia outpaces declines in the US and Europe, the International Energy Agency said on Wednesday. Global coal demand is forecast to be 8.77 billion tonnes in 2024, with Chinese demand expected to be nearly a third higher than the rest of the world, the agency said in a report.

Mining and exploration company Sovereign Metals completed the test pit backfilling and the start of soil remediation as part of its pilot mining and land rehabilitation programme at the Kasiya rutile/graphite project, in Malawi. The test pit, excavated during mining trials, was backfilled with 170 000 m3 of mined material within two months – well ahead of schedule.

Diversified metals processor Jubilee Metals, which has operations in South Africa and Zambia, has reported increased disruptions at its Roan facilities, in Zambia, owing to unplanned power outages in that country. These blackouts have significantly impacted on production, with the Roan operations being particularly vulnerable compared with the Sable refinery, which benefits from private electricity supply.