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MiningWeekly.com Audio Articles
Creamer Media's Mining Weekly
50 episodes
1 day ago
MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.
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All content for MiningWeekly.com Audio Articles is the property of Creamer Media's Mining Weekly and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.
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Daily News
News
Episodes (20/50)
MiningWeekly.com Audio Articles
Golden City being put back on gold map by exciting new West Wits gold project
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
Mining Weekly has just visited West Wits Mining, where Johannesburg's former golden glow is beginning to re-show - and at a cracking pace.
The gold project is a close 15 km west of Johannesburg's central business district in South Africa's province of gold, and the Mining Weekly team was able to observe first-hand a pile of gold-bearing ore that has already been brought to surface.
Quite remarkably, this gold ore is from an untouched block of Qala Shallows' reef - yes, from virgin rock - and the fact that there's still a lot more to come is emphasised by the word Qala, which is Zulu for 'start', because Qala Shallows is only the start of much more to come.
The word 'shallows' is also appropriate because, in South Africa's underground gold mining terms, Qala Shallows is extraordinarily shallow.
"It's running at a depth of around 800 m and we intend to mine a strike length of about 2 km.
"We've got quite a big mining right footprint of about 16 000 ha but our current focus is on the in-situ untouched block from surface," West Wits Mining CEO Rudi Deysel outlined to Mining Weekly. (Also watch attached Creamer Media video.)
The Sydney-listed company's Witwatersrand Basin project is located in South Africa's proven Central Rand goldfield.
A big factor now is the building of a stockpile and the first gold bar is scheduled to be poured during the first quarter of 2026, which is impressively near-term.
A 30 000 t ore stockpile by the end of the first quarter of 2026 will ensure a consistent supply of ore to the Ezulwini processing plant 40 km away, which is part of a toll treatment agreement already done and dusted with precious metals major Sibanye-Stillwater, Ezulwini's owner.
The Qala Shallows, an integral part of the Sydney-listed company's Witwatersrand Basin project, is on the way to being ramped up to an initial steady state of 70 000 oz/y.
"Before we started with this project, we spent a lot of time setting out our code of practices, our standard operating procedures.
"What is great about West Wits is that we're also a member of Minerals Council South Africa, and with a lot of support from the council we were able to roll out industry standards from day one.
"There's already a high regard and respect for safety and the big message that we send out is that you live safety as part of your life and 'my safety is your safety'," Deysel reported.
Then, Phase 2 will come close to trebling output to 200 000 oz/y - "and we most certainly have the resources to do that".
West Wits Mining has been able to raise kick-start equity funding on the Australian Stock Exchange and operation for up to a year will be helped by the self-generation of revenue from own production, ahead of drawdown from a syndicated loan facility secured from major South African lenders, the State-owned Industrial Development Corporation and Absa Bank.
"Today, we can say we're fully funded to start with Qala producing up to a steady state of 70 000 oz of gold a year and have a life-of-mine of 17 years."
The updated definitive feasibility study, released in July, reinforces project value and economic fundamentals. It shows a pretax net present value (NPV), at a 7.5% discount rate, of $719-million and an internal rate of return of 93%.
Payback from the end of the peak funding period is estimated at eight months and at 3.3 years from the start of development.
Peak funding is estimated at $44-million over a 2.6-year period, a reduction from $54-million over three years in the 2023 definitive feasibility study.
Average steady-state production is at an estimated all-in sustaining cost of $1 181/oz.
Kimberley reefs - K9A and K9B - are the reefs that will be processed during the life of the project.
The compliant mineral reserves are estimated at 4.6-milli...
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1 day ago
8 minutes 44 seconds

MiningWeekly.com Audio Articles
Martin Creamer talks about: G20Lens analysis, Glencore, Harmony Gold make headlines
Mining Weekly Editor Martin Creamer discusses South Africa's thin-incentive critical minerals strategy, according to G20Lens analysis; Glencore's cobalt strategy as the cobalt export ban lifts in the DRC; and Harmony Gold's commitment to creating lasting socioeconomic impact.
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4 days ago
5 minutes 16 seconds

MiningWeekly.com Audio Articles
Implats delivers higher sales into much improved platinum group metals pricing
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
Platinum group metals (PGM) mining and marketing company Implats delivered higher refined and saleable production and sales volumes into improved PGM pricing in the three months to September 30.
Refined and saleable metal volumes improved by 3% to 830 000 oz and final metal sales rose by 7% to 847 000 oz.
"The sustained recovery in PGM pricing provides a welcome tailwind and Implats is well positioned to maximise and share value, while maintaining a firm focus on safe, consistent and efficient operational delivery," Implats CEO Nico Muller stated in the Johannesburg Stock Exchange-listed PGM company's production update for the first quarter of its financial year 2026 (FY26).
"Our efforts to mitigate fatal injuries secured a fatal-free quarter, testament to our commitment to achieving our zero harm ambitions. Implats remains firmly on track to deliver against its previously communicated operational, cost and capital expenditure guidance in FY2026," Muller reported
Implats recently concluded annual contractual negotiations with its core customer base, reaffirming an outlook of rising demand across the company's suite of precious and base metals.
"PGM markets in 2025 have been characterised by constrained liquidity, much-improved investor sentiment and firmer pricing.
"After a prolonged period of market complacency, ongoing geopolitical and macroeconomic uncertainty has driven increased demand for supply surety and critical metals security," Muller added in a release to Mining Weekly.
Tonnes milled at managed operations rose marginally to 7.11 million tonnes during the three months to September 30.
Volumes at the Zimplats mine in Zimbabwe and the Marula mine in South Africa were stable and higher throughput at Impala Rustenburg's North Shafts offset the planned reduction in volumes at Impala Canada and operational disruptions at Impala Rustenburg's South and Central Shafts. Milled grade declined by 3% to 3.74 g/t.
The impact of lower grade and recoveries was exacerbated by the temporary increase in concentrate inventory at Zimplats during furnace maintenance. production from managed operations declined by 5% to 693 000 oz.
Concentrate production from the group's joint ventures - Mimosa in Zimbabwe and Two Rivers in South Africa - declined by 5% to 138 000 oz.
Third-party concentrate deliveries to Impala Refining Service increased by 3% to 52 000 oz.
Consequently, group production volumes declined by 5% to 882 000 oz.
Refined production, which includes saleable ounces from Impala Canada and Impala Rustenburg's North Shafts, improved by 3% to 830 000 oz.
Scheduled annual processing maintenance and stock counts were completed in the period and excess inventory increased by 60 000 oz from the end of FY2025 to circa 480 000 oz at period end.
Sales volumes increased by 7% to 847 000 oz, including saleable production from Impala Canada and Impala Rustenburg's North Shafts.
IMPALA RUSTENBURG
Production momentum at Impala Rustenburg was negatively affected by operational disruptions owing to the early implementation of winder upgrades, Department of Minerals and Petroleum Resources stoppages during July, unstable power supply, and labour repositioning between short- and long-life shafts that impacted the South Shaft and Central Shaft.
Tonnes milled increased by 2% to 3.99-million tonnes, while grade declined by 4% to 4.05 g/t owing to higher contributions from mechanised sections and dilution caused by geological features.
At the North Shafts, operational delivery improved at Styldrift, where concentrate volumes increased by 6% to 137 000 oz with a further accumulation of circa 10 000 ounces untreated run-of-mine ore stock ahead of the concentrator plants. 6E stock-adjusted production at the South and Central Shafts de...
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4 days ago
8 minutes 8 seconds

MiningWeekly.com Audio Articles
South Africa’s thin-incentive critical minerals strategy noted in G20Lens analysis
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
South Africa's critical minerals strategy is not embedded in a modernised mining policy aligned with an industrial policy.
Investment incentives are thin: there are no tax holidays, royalty relief or other targeted financial measures to attract exploration and critical-mineral development.
Minerals are ranked by criticality, but there is no differentiated regime to operationalise that ranking.
Beneficiation goals are aspirational given constraints in power, logistics and port performance.
Regulatory uncertainty persists, with the May 2025 Mineral Resources Development Bill including requirements for mandatory beneficiation by producers but leaving key investment issues unresolved. An actionable implementation plan with accountability mechanisms has not been published.
ENS natural resources and environment department head Ntsiki Adonisi, ENS executive Ghana Rachel Dagadu, ENS natural resources and environment senior associate Zinzi Lawrence, ENS associate Namibia Amarachukwu Odo, and Mulenga Mundashi associate Zambia Chimwemwe Tembo-Shula state this in ENSafrica's latest ENSight, published under the banner of G20Lens.
Africa possesses a significant share of the minerals essential to the global shift towards clean energy, from platinum group metals (PGMs), cobalt and copper to lithium, but the core challenge is moving beyond extraction to develop integrated value chains, create jobs and share benefits equitably and sustainably.
Africa holds more than 30% of global critical mineral reserves. These resources can drive economic transformation through well-managed value addition, industrialisation, large-scale job creation and regional market creation, underpinned by environmental management.
If handled poorly, Africa risks repeating the past: continued export of low-value raw materials, importing high-value finished goods, exploitative outcomes and environmental degradation that exacerbates climate impacts, losing the midstream to other regions and missing the capital now flowing to bankable, policy-aligned projects.
Global industries are retooling for a low carbon economy, and Africa's geology is central to achieving that.
Commercial-scale deposits of lithium, manganese, nickel, copper and rare earth elements (REEs) position Africa as a key supplier, with the Democratic Republic of Congo dominating global cobalt supply, South Africa having significant reserves of PGMs and manganese, Guinea holding a major share of bauxite reserves, Ghana also prominent in manganese, and Namibia hosting lithium.
Internationally, policy frameworks are wanting supply chains for these minerals, an opportunity Africa can leverage to accelerate industrialisation.
Africa's mineral endowments are aligned to electrification, industrialisation, regional offtake and supplier development driven by Africa's Green Minerals Strategy, the African Mining Vision and the African Continental Free Trade Area, ENSafrica states in its release to Mining Weekly.
JURISDICTION DEFINITIONS
The analysis of South Africa's Critical Minerals and Metals Strategy, published in May 2025, is that it adopts a context-specific definition: critical minerals are those essential for overall economic development, job creation, industrial advancement and contribution to national security.
South Africa's critical minerals list, the release points out, is informed by export significance, industrial importance, economic contribution, development alignment and global demand.
The strategy identifies 21 minerals, grouped by criticality. High criticality minerals include platinum, manganese, iron-ore, coal and chrome; minerals with moderate-to-high criticality include gold, vanadium and REEs; and minerals with moderate criticality include copper, cobalt, lithium, nickel and ur...
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5 days ago
8 minutes 49 seconds

MiningWeekly.com Audio Articles
Glencore outlines cobalt strategy amid lifting of DRC’s cobalt export ban
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
Diversified mining and marketing company Glencore on Wednesday outlined its strategy surrounding the export of cobalt from the Democratic Republic of Congo (DRC), which follows the lifting by the DRC government of its export ban on cobalt, and the introduction of quotas on the export of this hard silvery-grey metal, which is used in several modern technologies.
Imposed following the revocation of the cobalt export prohibition are export quotas totalling 87 000 t/y on contained cobalt for 2026 and 2027, and an 18 125 t quota for the remainder of 2025. In addition, the DRC government has retained a strategic quota of 9 600 t/y.
Given that Glencore has sufficient cobalt inventory available to utilise the allocated quotas to the full, it will be prioritising DRC copper production over cobalt, where it makes sense - a strategy that is expected to continue while the quotas are in effect, Glencore outlined about the restrictions on this metal, which is used in electric vehicle batteries, consumer electronics batteries, high-strength alloys for jet engines and cutting tools, as well as being a vitamin B component for human health.
Above-quota production levels of cobalt will be stored in-country, said Glencore, which is a producer and marketer of more than 60 commodities that support decarbonisation, while also meeting current energy needs. Glencore's marketing and industrial activities are supported by a global network of more than 50 offices.
The customers of this London- and Johannesburg-listed company are industrial consumers, such as those in the automotive, steel, power generation, battery manufacturing and oil sectors.
"Underpinned by a strong third quarter production performance, particularly in copper and coal, full-year 2025 production guidance for our key commodities has been maintained, with ranges tightened to reflect just one quarter remaining," Glencore CEO Gary Nagle stated in a release to Mining Weekly on its third quarter of 2025 production report.
Copper production volumes increased 36% quarter on quarter owing to 66% higher performance at the DRC's Kamoto, 60% better performance at the DRC's Mutanda, 52% better performance at Peru's Antamina and 66% better performance at Peru's Antapaccay.
Zinc volumes year to date are tracking up 10% period-on-period while steelmaking and energy coal volumes are on track for full-year outcomes towards the middle and upper ends of their respective earlier guidance ranges.
Glencore's marketing performance year to date is set for full-year earnings around the mid-point of a recently upgraded through-the-cycle guidance range of $2.3-billion to $3.5-billion a year.
Own sourced third-quarter copper production was a 36%-higher 63 600 t and own sourced third-quarter cobalt production an 8%-higher 28 500 t.
Own sourced overall zinc production of 709 400 t was 10% higher than the comparable 2024 period and own sourced nickel production of 52 400 t was 9% lower than the comparable 2024 period.
Attributable ferrochrome production of 436 000 t was 51% below the comparable 2024 period, owing to the suspension of operations at South Africa's Boshoek smelter in May and Wonderkop smelter in June, pending a sustained recovery in ferrochrome conversion margins (from chrome ore). Operations at the Lion smelter are suspended for scheduled annual maintenance and planned furnace rebuilds.
Steelmaking coal production of 24.7-million tonnes and energy coal production of 73.5-million tonnes were broadly in line with the comparable 2024 period.
Glencore completed the sale of the Pasar copper smelter and refinery in the Philippines last month and in July, the Mount Isa copper mine in Australia ceased operations, placing copper smelting and refining reliance on third-party feedstocks.
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6 days ago
3 minutes 49 seconds

MiningWeekly.com Audio Articles
Harmony Gold committed to creating lasting socioeconomic impact, says Motsepe
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
Harmony Gold is committed to creating lasting socioeconomic impact, Dr Patrice Motsepe, the chairperson of South Africa's largest producer of gold by volume, has highlighted in the latest suite of reports of this Johannesburg Stock Exchange-listed gold-mining major.
In financial year 2025 (FY25) to June 30, Harmony contributed R6-billion in taxes and royalties in South Africa and paid R20.2-billion to employees in salaries and benefits.
Harmony has 34 350 employees and works with 12 761 contractors, with wages and salaries paid to the total workforce of 47 111 rising to the R20.2-billion mark in FY25.
"We remain deeply committed to upholding the highest standards of corporate governance, transparency, integrity and accountability across all aspects of our business," Motsepe emphasised.
FY25 marks Harmony's seventy-fifth anniversary as well as its tenth consecutive year of meeting production guidance, with governance safeguarding value for all stakeholders.
"Gold remains the cornerstone of Harmony's portfolio," Motsepe stated while pointing out that South Africa's high-grade, long-life Mponeng and Moab Khotsong gold mines continue to generate exceptional margins and cash flow.
Moreover, Harmony's underground South African assets optimised for free cash generation include Tshepong North, Tshepong South, Doornkop, Joel, Target 1, Kusasalethu and Masimong.
In addition, the company's high-margin South African surface operations are Mine Waste Solutions, Phoenix, Central Plant Reclamation, Savuka, Kalgold and the rock dumps.
Mineral reserves total 36.82-million ounces of gold and gold equivalent and FY25 market capitalisation is at R155.4-billion compared with R106.3-billion in the corresponding period of FY24.
Gold production reached 1.48-million ounces at an underground recovered grade of 6.27 g/t, with all-in sustaining costs of $1 806/oz amid a current gold price of $4 039/oz.
In response to high gold prices during the year, more of the higher gold prices were locked in to support the company's ability to fund projects.
Harmony generated record free cash flows of R11.1-billion at a 15.1% margin. Headline earnings grew by 26.6% with the highest dividend payout of R2.4-billion.
Harmony ended the year with liquidity of R20.9-billion, providing the flexibility to fund growth, sustain competitive dividends and maintain a good balance sheet.
Headline earnings grew by 26.6% with the highest dividend payout of R2.4-billion for FY25.
In the release to Mining Weekly, Motsepe described sustainability as an underpin of long-term competitiveness.
In FY25, Harmony advanced its decarbonisation roadmap, with close to 600 MW of renewable-energy projects planned to be commissioned by 2028, including the 100 MW solar plant that is under construction at Moab Khotsong.
Looking ahead, the company is intent on embedding sustainability while supporting and benefiting from the global energy transition.
Efforts to engage local suppliers and integrate small, medium-sized and microenterprises into the supply chain are ongoing, with FY25 investment in socioeconomic development totalling R271-million.
Eighty-two percent of the R39.1-billion procurement spend in the period was with empowered entities.
Skills development and training investment in the financial year was R859-million, when employee share option scheme participants received dividend payments of R42-million.
AI applications in processing plant optimisation are a focus, while cybersecurity is being advanced to identify threats, protect information, and respond to cyber incidents.
AI is seen as having the potential to improve efficiency, reduce human error and render high-risk mining environments less hazardous.
To drive value, capital is being allocated to transformational asse...
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1 week ago
5 minutes 46 seconds

MiningWeekly.com Audio Articles
Benefits of gold’s enduring resilience is as relevant as ever, says World Gold Council
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
The enduring resilience and diversification benefits of gold remain as relevant as ever amidst a growing investor base, dollar weakness and continued geoeconomic uncertainty, says World Gold Council asset allocation strategist Jeremy De Pessemier.
While much has happened on the policy front and in the broader economy since the publication of the World Gold Council's 'Why gold in 2025? A cross-asset perspective' report earlier this year, uncertainties and vulnerabilities remain across geopolitical, fiscal, and trade domains, with gold currently trading at $4 072/oz.
"Investors are particularly concerned about growth and inflation, creating a challenging situation for policymakers as the dual policy goals of the Federal Reserve are in direct conflict," De Pessemier writes in the council's latest gold market round-up.
"With persistent fears of stagflation, gold has once again stepped into the spotlight, rising more than 50% this year.
"Importantly, the core reasons for considering alternative assets such as gold remain largely unchanged.
"First, equities appear complacent. US equities have posted remarkable gains in recent months, reigniting concerns about valuation excess and concentration risk," he adds, with investors facing a market that feels euphoric on the surface but remains fragile underneath.
"Should economic pressures mount, investors may increasingly seek refuge in safe-haven assets, with gold standing out as a historically resilient option."
SLOW HIRE BECOMING NO HIRE
"Second, bond markets remain uncertain. The US Federal Reserve officially resumed its easing cycle in September, cutting the federal funds rate by 25 basis points in response to a cooling labour market - an action widely anticipated by markets.
"However, US long-term yields could face renewed upward pressure if tariffs and reshoring efforts drive domestic costs higher, complicating the Fed Reserve's inflation target.
"At the same time, long-term treasuries remain exposed to concerns over the Federal Reserve's independence and the US government's sizeable fiscal funding needs.
"Against this backdrop, gold's appeal as a hedge against both equity and bond market instability is growing, although risks exist."
Gold's rapid ascent could prompt rebalancing and profit taking. For example, from a technical standpoint, the monthly Relative Strength Index is above 90, with gold more than 20% above its 200-day moving average.
These factors could lead to short-term reversals. In addition, the sharp increase in the gold price could dampen consumer demand while global trade normalisation and a pick-up in GDP growth could revive risk appetite further.
"In summary, maintaining a diversified approach and remaining vigilant to shifting market dynamics is essential. Amidst a growing investor base, secular US dollar weakness and continued geoeconomic uncertainty, gold's enduring resilience and diversification benefits remain as relevant as ever," De Pessemier emphasises in the release to Mining Weekly.
Gold is projected by Metals Focus to exceed $5 000/oz in 2026, as ongoing trade tensions, declining interest rates and mounting fiscal pressures fuel substantial investment inflows into gold.
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1 week ago
3 minutes 11 seconds

MiningWeekly.com Audio Articles
Martin Creamer talks about: Southern Palladium, Sibanye-Stillwater, Hillside Aluminium make headlines
Mining Weekly Editor Martin Creamer discusses Southern Palladium’s A$20-million raise to ramp up work at its Bengwenyama PGM project in Limpopo; Sibanye-Stillwater’s commitment to community development projects; and smelting continues to test maximum technical capacity at Hillsid
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1 week ago
4 minutes 42 seconds

MiningWeekly.com Audio Articles
Venetia mine is sparkling as brightly as the diamonds it brings to surface
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
The successful transition from opencast mining to underground mining is being achieved with considerable aplomb at Venetia Diamond Mine, which Mining Weekly has just visited.
De Beers' $2.3-billion investment in the Venetia underground project, in Limpopo province, represents the biggest single investment in South Africa's diamond industry in decades.
Stay-in-business capital of $0.6-billion extends to 2027, with no investment needed into Venetia's large processing plant, coping as it does with the feed of six-million tonnes a year, from which 4.5-million carats of diamonds will be recovered annually. (Also watch attached Creamer Media video.)
Underground infrastructure includes two vertical shaft systems for personnel transport, ore transport and the routing of services, as well as lateral access to stations on level 54 - to which Mining Weekly descended - level 91 and level 94 for the services shaft, and the station on level 100 for the production shaft.
The service shaft has an internal diameter of 7 m and will eventually provide all the services and people transport for the underground workings. The production shaft, with the same internal diameter, is fitted with two rock winders, each having two 24 t payload skips.
Presently, Venetia is processing lower-grade surface stockpiles while the operation transitions and that will continue as the underground production slowly ramps up.
Mining underground until 2049 is expected to yield 81-million carats of diamonds from 115-million tonnes of diamondiferous material.
Reductions in the mine's carbon footprint will be realised when Envusa Energy's renewable-energy projects are operational. Envusa Energy, a joint venture between Anglo American and EDF Renewables, aims to establish a regional renewable-energy ecosystem in South Africa to meet the group's long-term power requirements.
Located 32 km south of the Limpopo river, Venetia is the only remaining diamond mining operation of the De Beers Group in South Africa and has been this country's largest producer of diamonds since 1995.
Back in the day, De Beers at some stages probably had about nine to 11 operations in South Africa and all of those operations have been sold. There are still legacy closure footprints, such as Voorspoed in the Free State, the Big Hole of Kimberley, and Namaqualand on the West Coast.
At Venetia, sampling began in 1969, opencast development in 1990, opencast mining from August 1992 to December 2022, and underground mining has been proceeding since 2023.
With ramp up of the underground to six-million carats a year having been slowed to 2032, the life of mine now extends to 2049.
The 17-person leadership team that has emerged from the resizing process is now implementing the new underground ramp-up projection.
During opencast mining, a very good 101 grade was achieved and the 838-million tonnes of ore and waste moved yielded 143-milion diamond carats.
Venetia Senior GM Ntokozo Ngema, Venetia GM Underground and Projects Jan Nel and Venetia Senior Mining Manager Thabo Mokone outlined the next chapter of Venetia's journey to Mining Weekly.
They led us through the Integrated Operations Centre (IOC) and thereafter up the production shaft headgear, which provided an overview the mine's infrastructure, taking in the large plant, primary crusher, primary stockpile, secondary and tertiary crusher, water recovery, primary and secondary scrubbing, fines and coarse dense media separation, and diamond recovery. Noteworthy is the mine's dry tailings dam.
The descent down the mine in the cage highlighted that safety is front and centre of the underground environment, which is reflected by the mine achieving 13-million fatality-free shifts.
We witnessed the IOC helping to advance safety still further, al...
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1 week ago
11 minutes 56 seconds

MiningWeekly.com Audio Articles
Mpumalanga gold plant build accelerates, contractors mobilised, ground broken
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
The pace of the gold plant build of the TGME gold mine project in South Africa's Mpumalanga province is stepping up, with contractors mobilised and construction underway at the carbon-in-leach (CIL) section and associated retaining walls.
Sydney-listed gold mining development company Theta Gold Mines reports that negotiations with long-lead equipment suppliers for mills and crushing circuits are advancing and more than 120 personnel are now on site.
Full-scale operations will create more than 500 jobs, powered by global best practice AI-driven training.
Civil works and debt syndication have been supported by capital raises and convertible loan conversions and plant commissioning is being targeted for the end of 2026.
"Rapid progress continues on site," executive chairperson Bill Guy stated in a release.
"Contractors and equipment are now fully mobilised, and site earthworks are underway accelerating the transformation of this historic site into a modern gold producer."
This is the site of the old Transvaal Gold Mining Estate that is centred around the historical mining towns of Pilgrim's Rest and Sabie. The project aims to restart underground gold mines in what is a prolific gold mining region.
"Recent capital raises and convertible loan conversions have strengthened our balance sheet, positioning us to complete civil works and advance debt syndication.
"With funding and construction aligned, we remain firmly on track to commission the plant by the end of 2026," Guy added.
As reported by Mining Weekly in June, the project is targeting the Beta, Rietfontein, Frankfort and Clewer-Dukes Hill-Morgenzon (CDM) mines.
In the base case, the project has a mine life of 12.9 years, delivering production of 1.24-million ounces of contained gold over the life-of-mine (LoM) at a processing rate of 540 000 t/y to initially recover 1.08-million ounces of gold.
The project aims to produce 30 000 t a month from the Beta mine, 15 000 t a month from the Rietfontein mine, 15 000 t a month from the Frankfort mine and 10 000 t to 20 000 t a month near the end of the CDM mine's LoM. The existing mining infrastructure will be used, with the addition of new accesses, underground development and predevelopment of the mining grids to access the planned mining areas at Beta, Frankfort and CDM.
At Rietfontein, the existing adits and underground development will be used with the addition of new development ends, a new decline and the extension of an existing decline.
The mining strategy for the underground operations is to apply mechanised longhole drilling to narrow-reef mining to selectively mine out only the reef channel, with minimal dilution at Beta, Frankfort and CDM.
Rietfontein will be mined conventionally using shrinkage stoping, with hybrid loading methods between trackless load-haul-dump and rail-bound locomotives.
The processing plant will have a feed capacity of 45 000 t/m.
In the base case, the project has a net present value, at a 10% discount rate, of $324-million at an average $1 642/oz and an internal rate of return of 65%. Based on these figures, the project has a forecast after-tax payback period of 31 months.
The estimated development capital or peak funding requirement is $77-million.
Development finance institution the Industrial Development Corporation of South Africa (IDC) has extended a credit-approved loan facility agreement for R622-million, or about A$53.8-million, to help fund the TGME project.
The agreement, which includes a debt term of seven years from first drawdown, follows the completion of due diligence by the IDC and allows for Theta to move ahead with development and construction.
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1 week ago
3 minutes 41 seconds

MiningWeekly.com Audio Articles
Gold, platinum community upliftment highlighted by Sibanye-Stillwater
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
Gold and platinum mining company Sibanye-Stillwater on Wednesday highlighted its expansive array of community development projects that are contributing to a future where near-mine communities are thriving and self-sustaining.
In online gold and platinum booklets, the Johannesburg- and New York-listed mining company outlined a multiplicity of wide-ranging shared value initiatives in education, agriculture, skills development, health, wellness, social infrastructure, refurbishment and even supplying schools with essential educational tools such as WiFi.
"We remain committed to continuing the journey towards ensuring long-term, sustainable benefits for the communities around our operations," Sibanye-Stillwater executive VP stakeholder relations Thabisile Phumo stated in a release to Mining Weekly on Wednesday October 22.
"We believe the true value of mining extends beyond the resources we extract. It lies in ensuring that the positive impact we have on communities endures long after the life of our mines," Phumo added.
The Minerals and Petroleum Resources Development Act requires holders of mining or production rights to contribute towards the socioeconomic development of the areas in which they are operating as well as the areas from which the majority of the workforce is sourced.
The focus is on social and labour plans (SLP), which are guided by the Mining Charter. SLPs are a regulatory requirement for socioeconomic development and transformation in South Africa and are delivered following implementation plans agreed in the specific SLPs of each mining right.
In gold, Sibanye-Stillwater has eight SLPs in place, which apply to gold mines in South Africa's Gauteng, Free State and Mpumalanga provinces, and in platinum the nine SLPs it has in place apply to its platinum group metals mines in South Africa's North West and Limpopo provinces.
Phumo's view is that value must be created that has long-term outcomes and enduring societal impact.
"Fostering sustainable socioeconomic opportunities is key to reducing communities' dependence on mining operations and addressing the interconnected challenges of poverty, unemployment, and inequality.
"We acknowledge that the path to sustainability is not without its challenges. Maintenance and vandalism continue to threaten the longevity of certain projects. Many local SMMEs face an uphill battle to remain viable in a volatile economy," she pointed out.
"Additionally, we have seen how the breakdown of relationships among project beneficiaries can undermine impact and stall progress. These realities strengthen our resolve to work even more collaboratively - to build stronger, more resilient systems that support ongoing capacity building, accountability and inclusive participation.
"Since inception, we've consistently delivered socioeconomic benefits to our communities. Our aim is to ensure these benefits have a lasting impact by developing our communities into trusted partners for continued growth."
Education is central to the endeavour and a key SLP objective is to expand the educational skills base through the construction of school infrastructure, provision of sports facilities, and equipping schools with essential educational tools.
Since 2017, Sibanye-Stillwater has constructed and refurbished seven schools and provided WiFi to 18 schools. Mathematics and science programmes have been introduced at 17 schools in Bojanala district municipality.
The school WiFi initiative enables students from grade 10 to grade 12 to research assignments and practicals and enables teachers to use the smartboard for more interactive teaching. In addition, schools that do not have mathematics and science laboratories use the WiFi for simulations.
Access to quality healthcare is vital for the ...
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1 week ago
4 minutes 7 seconds

MiningWeekly.com Audio Articles
South Africa’s Hillside aluminium production holds steady as smelter tests capacity
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
In the three months to September 30, production at South Africa's Hillside Aluminium in Richards Bay, KwaZulu-Natal, increased by 1% to 181 000 t amid the smelter continuing to test maximum technical capacity.
Moreover, production guidance for the 2026 financial year (FY26) remains unchanged at 720 000 t, Johannesburg Stock Exchange-listed diversified mining company South32 reported on Tuesday, October 21.
South32's saleable production of manganese decreased by 7% to 551 000 wet metric tons (wmt) in the September quarter, owing to underground development activity at the Wessels manganese mine in South Africa's Northern Cape.
FY26 South Africa Manganese production guidance remains unchanged at 2 000 000 wmt, with planned maintenance scheduled in the current quarter.
Among the overall production highlights was a 33% uplift in manganese volumes. Of $117-million received from equity accounted investments in the three months to September 30, $36-million was from the manganese business, which is expected to add to cash generation in the December quarter.
Meanwhile, saleable production of aluminium by Mozal Aluminium in Mozambique increased by 3% to 93 000 t in the September 2025 quarter. The Mozal smelter operated near its maximum technical capacity, prior to the decision in August 2025 to stop pot relining owing to the uncertainty of future electricity supply beyond March 2026. FY26 production guidance also remains unchanged at 240 000 t, based on operations continuing to March 2026, when the current electricity supply agreement expires.
To secure electricity for Mozal, South32 is engaging with the Mozambique government, Hidroeléctrica de Cahora Bassa, and South Africa's Eskom but it is still uncertain whether Mozal will secure electricity supply beyond March.
"Without the required electricity supply, we expect that Mozal will be placed on care and maintenance at the end of the current agreement," South32 stated in a release to Mining Weekly.
In August, South32 published its second climate change action plan, which includes the positioning of the portfolio for the energy transition, operational emissions reduction, and the strengthening physical climate resilience.
Net cash declined by $59-million to $64-million in the September 2025 quarter.
"Our financial position remains strong as we continued our investment in growth at Hermosa, supported by $117-million in net distributions from our Sierra Gorda and manganese equity accounted investments during the quarter," South32 CEO Graham Kerr stated.
Sierra Gorda is an opencast copper mine in the Antofagasta region of northern Chile. Its payable copper equivalent production increased by 12% on higher planned copper grades and an increase in molybdenum volumes. Net distributions of $81-million were received from Sierra Gorda in the quarter.
"Looking ahead, we remain focused on maintaining our operating momentum and capitalising on strengthening market conditions in base metals," Kerr added.
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2 weeks ago
3 minutes 13 seconds

MiningWeekly.com Audio Articles
Southern Palladium powers ahead with $20m raise to fast track Bengwenyama project
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Sydney- and Johannesburg-listed platinum group metals (PGMs) company Southern Palladium as locked in a $20-million raise to ramp up work at its Bengwenyama PGM project in Limpopo, Investor Stream reports.
Southern Palladium owns 70% of and the Bengwenyama PGM project and the Bengwenyama Community 30%.
Located on the eastern limb of South Africa's well-endowed Bushveld Complex, the project has a resource of 40-million ounces of platinum group elements and gold, with shallow ore.
The project is moving toward development, including a staged approach to lower capital expenditure, with a prefeasibility study showing strong economics, including a $1-billion net present value and a three-year to five-year payback period.
The recent placement attracted good shareholder support, which executive chairperson Roger Baxter said future-proofed Southern Palladium on its journey towards a final investment decision in 2026. With fresh capital, a tight register, and momentum building into 2026, Southern Palladium looks ready to take Bengwenyama from study to shovel, Investor Stream commented.
In the Tubatse and Sekhukhune district municipalities, it covers 5 280 ha on the farms Nooitverwacht 324 KT and Eerstegeluk 327 KT.
The optimised prefeasibility study points to a staged production approach that involves predevelopment of blocks using off-reef twin haulages, drives and centre gulley raises.
As has been reported by Mining Weekly, Stage 1 proposes a production rate of 1.2-million tonnes a year from the South decline only, expanding after four years to 2.4-million tonnes a year in Stage 2 with the introduction of the North decline.
Stage 1 is expected to deliver more than 200 000 oz/y of PGMs in concentrate. Total 6E (platinum, palladium, rhodium, ruthenium, iridium and gold) ounces recovered is estimated at 2.22-million ounces over the 23-year mine life.
Stage 1 and 2 total 6E production is estimated at 7.5-million ounces over the total 33-year life-of-mine (averaging more than 400 000 oz/y from Year 4 or possibly sooner for Stage 2). A well-established, standard processing technology has been adopted and optimised using current state-of-the-art (two-stage mill-and-float) infrastructure.
PGM concentrates are expected to be processed at existing downstream refining facilities in South Africa. The company is also exploring off-site processing for Stage 1 to further reduce initial capital requirements.
Peak funding is estimated at $279-million. Stage 1 is estimated at $219-million while ongoing/expansion capital - Stage 1 and 2 - is estimated at $300-million.
An environmental guarantee has been lodged with South Africa's Department of Mineral and Petroleum Resources for the development of the project for future rehabilitation of the disturbed area.
Project delivery includes the recent start of a metallurgical and geotechnical drill programme of about 10 000 marking the next phase of definitive feasibility study (DFS) work, in line with the company's stated development strategy for staged mine development.
The guarantee follows an extensive consultation and execution process with Southern Palladium's insurance counterparty and government representatives, and reflects the company's rigorous approach to ensure the highest standards of regulatory compliance for mine development.
"We remain well engaged with key stakeholders and continue to work towards mining right approval, alongside the advancement of our comprehensive DFS works programme in the coming months," MD Johan Odendaal has been quoted as saying.
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2 weeks ago
3 minutes 37 seconds

MiningWeekly.com Audio Articles
Sale of South African chrome, PGM assets progressing well, Zambia-focused Jubilee reports
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Workstreams to conclude the sale by Jubilee Metals of its South African chrome and platinum group metals (PGM) operations are progressing well, the now Zambia copper focused London AIM- and Johannesburg AltX-listed company stated on Friday, October 17.
Approval by South Africa's Competition Commission as well as delivery of the audited accounts for the disposal of the group for the year ending June 30, are the two remaining significant conditions precedent to the sale.
Jubilee is hopeful that completion of the sale will be achieved by the end of this calendar year amid delivery of audited results for the financial year ending June 30 during the second half of November.
"Our South African operations have delivered a solid performance whilst the sale of our South African chrome and PGM Operations is progressing to expectation," Jubilee CEO Leon Coetzer stated in a release to Mining Weekly.
Shareholder approval received for the disposal of the South African chrome and PGM operations was received in August and the first $15-million of the sale consideration has been received in cash.
In the three months to September 30, Jubilee stated in an operational and project update for South Africa that the lost time frequency injury rate for the period was 0.96, a 27.8% decrease compared with the previous quarter with one classified injury recorded.
Chrome concentrate production for the three months to September 30 was an 11.2% lower 404 151 t compared with the corresponding period of last year owing mainly to the cessation in July of the OBB chrome ore supply contract but offset by increased production from Thutse operations.
The OBB contract contributed the equivalent of 450 000 t/y of chrome concentrate while PGM tailings from the OBB processing facility continue to be processed at the Inyoni PGM facility.
PGM production for the three months was a 10.1% lower 8 382 oz, with both decreases owing mainly to the impact of the cessation of the OBB contract on chrome concentrate and PGM feed supply.
South Africa production guidance for Jubilee's 2026 financial year is 1.65-million tons to 1.80-million tons of chrome concentrate production and 36 000 oz to 40 000 oz of PGM production.
The now Zambia-focused Jubilee first established its integrated multi-metals recovery and refining operational footprint in Zambia with the acquisition of the multi-metal Sable Refinery in Kabwe, in August 2019.
The acquisition served as an entry point for Jubilee into Zambia, presenting a platform from which to pursue the various base metal opportunities and to begin actively engaging with third-party suppliers to develop strategic partnerships to grow copper production.
Jubilee is focussing on growth in copper operations in Zambia where there is a supply of on-surface copper waste material and a junior mining sector with limited processing facilities.
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2 weeks ago
2 minutes 56 seconds

MiningWeekly.com Audio Articles
Martin Creamer talks about: Africa collaboration, De Beers interest and reviving ferroalloy smelters
Mining Weekly Editor Martin Creamer discusses the fourteenth Oppenheimer Research Conference hearing that Africa should collaborate to protect the planet; Botswana and Angola seeking an interest in De Beers and the opportunities it presents; and South Africa being urged to revive
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2 weeks ago
7 minutes 53 seconds

MiningWeekly.com Audio Articles
More liquid DRDGOLD generates additional first-quarter cash
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The high gold price has increased liquidity and cash generated by DRDGOLD in the three months to the end of September, the first quarter of the 2026 financial year of this Johannesburg- and New York-listed surface gold mining company.
Benefiting from uplifted liquidity and cash position will be DRDGOLD's extended capital expenditure programme for the 2026 financial year.
A first-quarter operating update on Thursday, October 16, reported a marginal 2% revenue increase to R2 254.9-million amid a sustained high gold price of R1 943 398/kg and a 16 kg increase in gold sold to 1 158 kg.
Despite a 3% decrease in throughput to 6 481 000 t, gold production rose by 2% to 1 191 kg, mainly the result of a 0.008g/t improvement in yield to 0.184g/t, DRDGROLD stated in a media release to Mining Weekly.
Cash operating costs per kilogram of gold sold were also stable, increasing marginally by 3% to R955 086.
The rise was mainly driven by annual labour increases and higher reagent costs - mainly lime and cyanide - at DRDGOLD's Ergo operation, east of Johannesburg on the East Rand, and mainly driven by annual labour increases at Far West Gold Recoveries, west of Johannesburg on the Far West Rand.
Electricity costs increased because of two months of winter tariffs, which Eskom charges between June and August each year, being included in the first quarter. One of DRDGOLD's major cost saving measures has been the establishment of the large solar farm to supply cheaper renewable energy to Ergo.
Far West Gold Recoveries incurred additional machine hire costs relating to the clean-up of the Driefontein 5 reclamation site.
Cash operating costs per tonne increased by 8% to R179 owing to the same cost drivers and the decrease in throughput.
All-in sustaining costs per kilogram were 5% higher at R1 066 287, despite a 58% decrease in sustaining capital expenditure to R51.5-million.
In the final quarter of the 2025 financial year, all-in sustaining costs included a credit adjustment related to the change in rehabilitation estimate that is assessed annually. All-in costs per kilogram were 6% higher at R1 745 213 owing to a 9% rise in growth capital expenditure to R781.1-million, mainly relating to the Far West Gold Recoveries Phase II project, which includes the construction of the regional tailings storage facility and DP2 Plant expansion.
Adjusted earnings before income tax, depreciation and amortisation were 1% higher at R1 092.1-million mainly owing to more gold sold and the higher gold price received.
Cash and cash equivalents decreased by R257.1-million to R1 049.1-million from R1 306.2-million after paying the final cash dividend of R345.7 million for the 2025 financial year and capital expenditure (including prepayments towards capital items) of R751.8-million incurred during the quarter.
DRDGOLD remained debt free as at September 30.
As reported by Mining Weekly last month, DRDGOLD has outlined its plans to invest around R7.8-billion in its Big Five capital growth projects, two on the well-established East Rand and three on the fast-developing Far West Rand.
The R7.8-billion capital investment is a medium-term forecast for the key projects within the Vision 2028 strategy, extending life-of-mine by at least 20 years for both East Rand and West Rand operations.
Vision 2028 is working towards increasing throughput to three-million tons a month, boosting gold production to more than 200 000 oz/y, reducing the company's environmental footprint and maximising social impact.
The plan now for Ergo on the East Rand is to expand the operation's lifespan to beyond 2040 to process a resource base previously thought non-viable. Increasing deposition capacity, however, would be vital until this could be achieved, by resuming deposition on to ...
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2 weeks ago
5 minutes 28 seconds

MiningWeekly.com Audio Articles
Africa must collaborate to protect ‘our precious planet’, Oppenheimer event urges
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To protect the "our precious planet", Africa must unite in its collaborative effort, align its efforts and share its strength with international players and partners, the 14th Oppenheimer Research Conference (ORC) heard in Midrand on Wednesday, October 15.
Former mining luminary Nicky Oppenheimer emphasised the "very important role" of Africa, ahead of Zimbabwe Environmental, Climate and Wildlife Minister Dr Evelyn Ndlovu warning that the lack of environmental protection is "putting human security at risk". (Also watch attached Creamer Media video.)
The world needs to do what it can to ease nature's path "and Africa has such an important role to play in that process," said Oppenheimer, the former head of Anglo American and De Beers.
"The natural heritage we have is our greatest wealth," said Ndlovu. "Our conservation efforts are not merely about protecting animals or trees", but really about safeguarding the total fabric of our nations.
"Our shared future depends on how boldly we act today to protect and restore our planet," ORC organiser and Oppenheimer Generations Research and Conservation head Dr Duncan MacFadyen highlighted at the packed event covered by Mining Weekly.
"I believe we're a real heartbeat of conservation worldwide," said Oppenheimer, with the contribution of the annual conservation get-together growing ever more important amid inexorable global urbanisation.
Reflecting on global nature finance gap, the event heard that the world is spending less than one third of what is needed to protect and restore the ecosystem.
Emphasised is that all scientists and researchers need "desperately" to learn from each other and to teach each other and then to teach the world.
Scientific data is helping the world to understand how ecosystems adopt and how communities can coexist with wildlife, forests, and wetlands on a warming planet.
"Let us continue to bridge the divide between research and implementation, ensuring that every discovery fuels development and resilience of the ecosystem.
"To my fellow policy makers, let us stand firm in our commitment to ensuring nature and climate stay on the highest political agendas. Africa holds many of the world's remaining natural frontiers and with this inheritance comes responsibilities.
"Without adequate financing, conservation becomes a form of charity, rather than an investment. And progress will be fleeting if we don't become serious.
"We must therefore strategically move precisely towards a sustainable, predictable and results-based financing, where natural capital is valued as a critical asset for development.
"Investing in nature, in our wetlands, our forests and wildlife is not a cost. It is a catalyst for resilient economies and stable societies and I urge all parties, public and private, to recognize this investment opportunity and prioritise nature.
"After all, over half of the global GDP is dependent on nature and its ecosystems," said Ndlovu.
But while ORC was underway, it was communicated by Green Central Baking's Despatch publication that "climate denialism" is sharpening US economic risk and creating regulatory weaknesses.
Just dismantled by US regulators are two climate risk committees at the Financial Stability Oversight Council, part of a sweeping trend to sideline climate finance experts, Ingrid Walker reported.
Experts warn such ideological moves from the world's top economy is leaving it dangerously exposed, as climate shocks outstrip could even subprime mortgage risks on bank balance sheets, the publication stated.
But climate risk doesn't play politics. Former Federal Reserve supervisor Kevin Stiroh warns that "a shock is a shock. Anything that can impact the real economy should be ... part of the risk monitoring and assessment process. Rese...
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2 weeks ago
5 minutes 14 seconds

MiningWeekly.com Audio Articles
Digitalisation could re-orientate gold industry, World Gold Council highlights
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
The value of gold as an asset has never been clearer, yet the gold industry finds itself at a fascinating crossroads, the World Gold Council reports.
The advent of new technologies, including blockchain, decentralised finance and cryptocurrency is having a transformational effect on the financial markets that gold operates in, the council adds in a paper entitled 'A New Golden Age'.
A new age of easily accessible, yield-bearing digital assets puts traditional assets under the spotlight, potentially disrupting their financial status. But at the same time, these innovations create previously unimaginable opportunities for gold to thrive as the ultimate physical and digital asset.
The results could be game-changing for the gold industry, increasing trust in gold markets, and recreating the metal as a fungible and highly liquid digital asset capable of powering the financial markets of the future.
"For the gold industry, simply digitalising current practices isn't enough," Simone Ferriani, Professor of Entrepreneurship and Innovation at Bayes Business School believes.
The real breakthrough will come from redefining the boundaries of innovation, it is contended.
Envisaged is how digitalisation could re-orientate the gold industry in the years ahead.
With insight from a dozen leaders and innovators from within the gold industry and across the fields of finance, blockchain and real-world asset tokenisation, alongside specialists at The Future Laboratory, the potential future use cases for digital gold are explored.
As is now uppermost of mind, the gold market, besides being large and global, is thriving, with the council estimating that physical gold holdings by investors and central banks are worth around $5.1-trillion.
Gold's trading volumes averaged a record $329-billion a day during the first half of this year.
In this sense, the gold market is more liquid than several major financial markets, including the Dow Jones Industrial Average, while trading volumes are on par with ten-year US Treasuries and exceed the most traded US equities.
During the past half century, the price of gold in US dollars has increased by 8% on an annualised basis - a performance comparable with equities and higher than bonds.
During the current period of economic instability, gold has also reinforced its credentials as a safe-haven asset and a great diversifier in mixed portfolios, with 49% of financial advisers agreeing this is a strength.
In June, the European Central Bank revealed that gold had overtaken the euro to become the second-largest global reserve asset after the US dollar.
Gold plays a crucial part in technology and healthcare products, while levels of recycling of gold make it one of the most circular assets in the world.
"In general, just about every ounce of gold that has ever been mined is still being used. It's as close to 100% recycling as you can get, I think that's something to be proud of as an industry," Wheaton Precious Metals CEO Randy Smallwood points out.
Yet, despite all of this, there are challenges facing the gold industry. The fact that gold is not considered to be a high-quality liquid asset or a financial instrument in many jurisdictions means it doesn't receive the same level of regulatory scrutiny as other investment products.
Managing physical gold custody can also be complex because gold comes in a range of different sizes and purities.
A perception prevails among some institutional investors and treasury departments that other assets are easier to manage.
Moreover, unlike asset classes such as bonds and property, gold doesn't provide a regular income. This is cited by 54% of financial advisers, who say the fact that gold does not pay coupons or dividends hinders its investment potential.
Now, digi...
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3 weeks ago
5 minutes 3 seconds

MiningWeekly.com Audio Articles
Major opportunity for the diamond business to return to old strengths, says luminary
Major opportunity for the diamond business to return to old strengths, says luminary
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
Botswana is seeking a greater interest in De Beers, and Angola is seeking an interest too. To the mind of diamond luminary Martyn Charles Marriott, this could be an opportunity to return to old strengths and disciplines.
In an article on the website of the International Diamond Manufacturers, Marriott cautions Botswana about going it alone and falling into the trap of yet again putting all its eggs into one basket. Marriott notes that the current deal Botswana has with De Beers is fantastic in that 80% of mine profits go to Botswana - a level that far surpasses anything in the mining industry anywhere in the world.
Marriott expresses the view that the debate now under way about the future of De Beers presents an opportunity for a return to the discipline and control of the natural diamond market.
Many recall that the economic viability of the diamond industry in the days when it had a stockpile and a quota approach, which kept supply and demand in crucial balance.
In addition, large sums money were spent on the unforgettable Diamonds are Forever advertising campaign and the creation of the diamond engagement ring tradition that spread throughout the world.
Collaboration is what gave diamonds their old strength; fragmentation is what has created their current weakness.
Marriott recalls how collaboration led to flow of alluvial diamonds from West Africa being absorbed by the diamond buying offices that were created at source.
In addition, Russia recognised the way in which the approach was of benefit to all on the supply chain from diamond miners to diamond cutters, traders, and consumers.
As the then manager of the De Beers Dicor operation in Sierra Leone, it was Marriott who persuaded the government of that African country of the benefits and his departure from De Beers coincided with the discovery of diamonds in Botswana, where he played a diamond consultancy role from 1970 to 1983.
Botswana was persuaded about the way in which the Central Selling Organisation system could help its economy "with the caveat that the diamonds had to be properly sorted and valued".
The production level at Orapa also had to be increased to the level that helped Botswana secure a favourable quota.
It was also Marriott who initially proposed that the future development of the mines in Botswana should be by an equally shared 50/50 company.
For more than a dozen years, Marriott was a member of Botswana's negotiating team with De Beers that secured the very high level of profits that would accrue to the Botswana government from the development of its diamond mines. During the development of the Jwaneng mine by the then joint company, he was asked to co-ordinate Botswana's inputs into the project.
Interestingly, in 1980, even the Australians were also persuaded about the merits of the Central Selling Organisation for the Argyle mine.
"From 1985 through to the end of the century I was heavily involved in the restoration of the Angolan diamond industry as consultant and valuer to Endiama," Marriott recalls in the article in the latest International Diamond Manufacturers publication.
"In this instance, as the production there was then small, I advocated sales by tender initially, and we built up a successful sales procedure from there, which was eventually undermined by corruption."
He also played an active part in the establishment of the Kimberley Process.
"Unfortunately, in 1986 things in the diamond world began to fall apart. Argyle and De Beers ceased their co-operation. The Russians became more and more independent and this was followed by the Canadian mines marketing their production separately."
The Central Selling Organisation was no longer in...
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3 weeks ago
4 minutes 33 seconds

MiningWeekly.com Audio Articles
European Union elevates South Africa’s R105bn green hydrogen project to new high
This audio is brought to you by Astec Industries, a Global Leader in manufacturing equipment for infrastructure, including asphalt production, construction, and material processing, driving innovation and sustainability.
European Commission President Ursula von der Leyen elevated South Africa's R105-billion Nelson Mandela Bay green-hydrogen-to-green ammonia project to a new high when she singled it out for special mention in announcing a massive rise in funding for the South Africa-European Union Just Energy Transition Partnership.
The new nigh-€12-billion package is a streak ahead of the €4.7-billion Global Gateway figure, which was celebrated at the EU-SA Summit in Cape Town in March.
The EU, which is working hand-in-hand with to Global Citizen, also used the Brussels event to announce a big new €618-million Team Europe package to support power grid modernisation for renewable electrification.
In March, South Africa's world-leading platinum group metals (PGMs) endowment received a major boost when Von der Leyen pointed out that South Africa hosts raw materials that are critical for electrolysers, including 91% of the world's PGM reserves, and you have a rising industry to produce clean hydrogen and strong export ambitions."
Now, seven months later, Von der Leyen expressed delight at the huge step up of funding by EU member states for South Africa's Just Energy Transition. "We can now take almost €12-billion to our Just Energy Transition Partnership," she said turning to South Africa President Cyril Ramaphosa, "and we can support our ambition to become a true global leader in clean energy.
"We need the member states, we need our partners, and we also need the private sector, the business community to come in with the knowledge and the global capabilities, and I'm thinking here, for example, of the Coega Green Ammonia project in Nelson Mandela Bay.
"With it, South Africa is on its way to becoming a global shipping hub as green ammonia becomes a clean maritime fuel of choice, and with this investment comes an enormous opportunity. This is unfolding for South Africa. This green ammonia story is just one of many success stories that we have and now with the new investment, we have the means to write many more success stories," Von der Leyen pointed out.
Hive Hydrogen South Africa is the developer of the green fuel project being developed in the Eastern Cape and present to hear Von der Leyen's laudatory comments first-hand was Hive Hydrogen chairperson Thulani Gcabashe, a former Eskom CEO, whose Built Africa Group focuses on developing renewables projects in South Africa under the Renewable Energy Independent Power Producer Procurement Programme.
Directing her comments toRamaphosa, Von der Leyen added: "Dear Cyril, my friend, it's wonderful to see you again now in Brussels, so soon after New York, at the United Nations General Assembly, because today we truly have good news to share." (Also watch attached Creamer Media video.)
"In March, we made a strong call to invest in renewables, both in and with South Africa, because the logic is that there are natural resources in abundance in South Africa, which also has the skills, and the business case is clear.
"Important to note is that South Africa is not only transforming itself but it's becoming a clean energy pioneer for the entire continent of Africa," Von der Leyen reported while drawing attention to the scaling-up continental renewables campaign initiated by
Global Citizen against the background of 600-million people in Africa still have no access to electricity.
Partnering with international advocacy organisation Global Citizen and being backed by the International Energy Agency is Global Gateway, which will culminate with a major pledging event at the upcoming G20 Summit in Johannesburg in November.
The Global Gateway campaign focuses on connectivity infrastructure - both physical and digital - and on uplifting the local pharmaceutical industry.
"The campaign is now entering...
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3 weeks ago
9 minutes 31 seconds

MiningWeekly.com Audio Articles
MiningWeekly.com provides real time news reportage through originated written & video material. Now you can listen to the top three articles on Mining Weekly at the end of each day.