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Modern Mining September 2024 cover web

Editor’s take: That coveted commodity – gold – has eager chasers all round, especially at the Olympic Games Paris 2024, with South Africans also making a play for the top medal. Some 150 athletes represented Team South Africa at Paris 2024 in the country's 21st appearance at the Olympic Games, where athletes pursued gold, silver and bronze medals.

Earlier this year, the World Gold Council’s (WGC) senior market strategist, John Reade, revealed that Africa was the world’s largest regional gold producer, accounting for some 27% of global gold production in 2022. Interestingly, according to the latest news from the WGC, the second quarter gold demand hit record highs. The WGC’s Q2 2024 Gold Demand Trends report revealed that total global gold demand increased 4% year-on-year to 1 258 t, marking the strongest Q2 in its data series. Total demand was supported by healthy over-the-counter (OTC) transactions, up a notable 53% year-on-year at 329 t. 

On the cover

Karowe Underground Project progressing well

United Mining Services (UMS) is gaining ground on the critical path to completion of the production and ventilation shafts for the Karowe Underground Project (UGP) in Botswana. Lucara Botswana appointed UMS in 2019 to engineer and design the shafts for the UGP in preparation for the mine to transition from open pit to underground mining. The Karowe mine is world-famous for producing large, high-quality diamonds, including a 1 080-carat Eva Star diamond, recovered in August 2023.

The Tin Dilemma Is global supply equipped to meet growing industrial demandThe Tin Dilemma: Is global supply equipped to meet growing industrial demand?

As the journey to net zero continues to gain momentum, global focus has shifted away from fossil-fuel derivatives towards energy metals and other critical minerals. Renewable energy solutions are becoming increasingly prioritised, and tin is emerging as a key player in this clean energy transition. A versatile and highly valuable metal, tin is establishing itself as a cornerstone in the shift towards sustainable, low carbon technologies.

Bankan readies for construction in 2026Bankan readies for construction in 2026

Coupled with its strategy of progressing the Bankan gold project in Guinea – its flagship asset – towards development, ASX-listed Predictive Discovery is engaged in an intensive drilling programme aimed at unlocking the project’s full potential. “We are progressing resource drilling in and around the current reserve area to enhance our resource base,” says Predictive Discovery MD Andrew Pardey. The Bankan project is lined up for construction in 2026, with commissioning scheduled for 2027.

Simon Andrews new Vice President Africa Soft Rock for Komatsu MiningKomatsu eyes India as its next growth target

Equipment manufacturer, Komatsu, is eyeing the Asian market, India and China in particular, as its next growth target, says Simon Andrews, new Vice President Africa - Soft Rock for Komatsu Mining. Speaking to Modern Mining on the side-lines of a factory tour of Joy’s smart service centre in Emalahleni, Mpumalanga Province, the specialist in underground mining equipment explained that demand for fossil fuels to fuel power stations, remained robust. 

 

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Editor
Nellie Moodley 
Email: mining@crown.co.za
Phone: 084 581 2371

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Email: rynettej@crown.co.za
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