Editor’s take: If the horoscope predictions for 2023 are to be believed, then I guess it’s a happy New Year, on most fronts, which is a relief given the trials of the past few years. But, as South African’s we come into the New Year with legacy challenges, particularly those related to Eskom, which is likely to dim that upbeat forecast. Obviously, the thought of the Department of Mineral Resources and Energy taking over Eskom has irked many people, with a number questioning the department’s ability to effectively handle such a massive undertaking. That the National Energy Regulator of South Africa recently agreed to an 18.65% increase in electricity tariffs, effective from 1 April this year, further burdening cash-strapped South Africans, is the straw that is breaking South African’s back. Ministers are exempt from both loadshedding and water shedding – what a pity. It might have made a massive difference if they were forced to endure the same severe levels of shedding that the rest of us face.
On the cover
GoldOre eyes global growth with the MACH Reactor
Despite current market challenges, GoldOre has landed new business in new international territories (Turkey and Mexico), which is in line with the company’s strategy of global business expansion. The year ahead looks promising as the company plans to focus its research efforts on the copper sector, where GoldOre has identified an exciting application that ties in well with the finer grinding most copper operators are incorporating.
Commodities Outlook: Platinum, Diamonds, Zinc and Coal
- The platinum market is forecast to swing into deficit in 2023, a swing of over 1.1 moz following –two consecutive years of significant surpluses.
- The diamond market is expected to continue being under pressure with prices of rough remaining high due to scarcity and polish not yielding the same.
- The global zinc market is expected to reach $74.4 billion in 2027 and is forecast to grow at a CAGR of 4.4% from 2021 to 2027.
- The WCA’s chief executive she says that coal will remain the most significant contributor in the energy sector even in 2040.
Top projects: Gearing to deliver
Modern Mining’s Top Projects have an eye on the finish line, with Renergen’s Virginia gas project, having started production of Phase 1 in September last year and diamond major De Beer’s VUP eyeing production in 2023. Pan African Resources’ Mogale Gold project is set to deliver first gold production in December next year, as is Ivanplats Platreef project while Orion Minerals’ Prieska copper-zinc project is also aiming to be in production in the latter part of next year.
Investing in African Mining Indaba 2023 preview
African Mining Indaba 2023 has a thrilling line-up of new topics and a greater focus on emerging and junior miners, and environmental, social, and governance (ESG). The conference takes place from 6 to 9 February 2023.
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