Editor’s take: It seems that the tide, under the Government of National unity (GNU), is turning with government making a concerted effort to deal with aspects hindering economic growth, namely power and corruption, amongst others. In fact, speaking at the 22nd Africa Down Under mining and exploration conference in Perth, Australia, recently, Mzila Mthenjane, CEO of the Minerals Council South Africa, flagged the positives taking place in the country, such as the inclusion of the private sector to assist the government to stabilise and restore electricity generation and state-owned transport logistics services to nameplate capacities, and to tackle crime and corruption. “As the South African mining industry, we are gearing for growth. We will continue to capitalise on the positive post-election sentiment as we see accelerating structural reforms and growing private sector participation in key areas that impact the economy…,” he said.
On the cover
Weir drives holistic approach to digital integration in mining
Having invested for many years in digital innovations for mineral process optimisation and efficiency, Weir can now create more holistic solutions that change the face of mining. It is little surprise that the ‘digital and innovation’ category has climbed to fifth position in EY’s ranking of the top 10 business risks and opportunities for mining and metals in 2024, says Ole Knudsen, Senior Director for Digital at Weir. The EY report highlights that mines are looking to digital solutions as a key enabler for reducing costs while improving productivity, safety and ESG outcomes.
Mining companies get creative to finance their projects
Net profits earned by the world’s 40 biggest mining companies sunk by 44% in 2023 compared with 2022. With financing hard to come by, junior explorers have sought new avenues for capital. Surging interest rates and a lack of investment from a market that is sceptical of the sector has resulted in difficulties in raising capital for mining projects, many of which will be required to meet the demand for green transition minerals. Research from McKinsey & Company forecasts that, by 2030, there is likely to be supply shortfalls of 20 to 50 per cent across some of the metals and minerals that are vital for renewable energy, power grids and electric vehicle batteries.
Coaltech rebrands, embarks on revised strategy
Coaltech, a non-profit organisation focused on coal industry research, recently introduced its revised strategy and rebranded business, complete with new logo, at an event held in Johannesburg in mid-August, CEO Avhurengwi Nengovhela, tells Modern Mining. While the mandate remains unchanged, Coaltech’s mission is “slightly different” with a focus on aiding the coal industry become more sustainable within a low carbon emissions context.
Realigned – Fluor makes its mark in underground mining.
Just short of five years on since engineering, procurement and construction (EPC) contractor, Fluor, established the Underground Mining Center of Expertise, headed up by Charl Klopper, Executive Projects Director & Global Underground Lead Mining and Metals at Fluor, the Johannesburg based division has been making steady strides executing projects both globally and in Africa, to serve the growing number of projects with partial or entire underground mine plans.