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Northam Platinum is looking to establishing the Eland mine as South Africa's first platinum group metals (PGM) mine operating solely on renewable energy.

In addition, Eland is water positive, and the phasing out external water sources before the end of the decade would turn it into a green mine, an upbeat Northam Platinum CEO Paul Dunne emphasised on Friday August 28 when the Johannesburg Stock Exchange-listed PGMs and chrome mining company presented a stunning set of financial results and paid record dividends.

"We will continue to roll out our renewable energy programme," Dunne said during the presentation, at which he described the commissioning of the first 80 MW solar farm at the Zondereinde mine as a major milestone.

"Each year, this facility will produce 220 000 MW hours of secure, behind-the-meter electrical energy, reducing annual carbon emissions by 240 000 t, and reducing Zondereinde's energy costs by 15%."

In addition, progress had been made, he said, on five other projects under construction, including the Karreeebosch wind farm, the Thakadu solar farm, and the solar farm at the Eland PGM and chrome mine.

The Karreebosch wind farm is a 140 MW renewable energy project located in South Africa's Karoo region between Matjiesfontein and Sutherland and Thakadu photovoltaic plant is a 255 MW utility-scale solar project near Klerksdorp, in North West.

Northam will soon begin to install 360 MW hours of industrial batteries across the operations, Dunne reported during the company's results presentation covered by Mining Weekly.

Once all the project were fully operational in FY28, the company would be delivering more than 1 000 GW hours of energy, reduced carbon intensity by 70% and shave about R1-billion a year off its current electricity bill.

"The economic benefit of these initiatives ensures their true sustainability," Dunne commented.

He said that batteries would allow Northam to extend the solar benefit into the peak tariff periods and thereby maximise savings.

Northam plans to install 250 MW of battery storage at Zondereinde, which would improve energy security and enable peak tariff arbitrage.

"It's worth noting that peak tariff energy represents only 14% of energy use, but 44% of energy cost. Hence, the arbitrage opportunity," he explained.

The build programme at Karreebosch has now erected 22 of the 25 towers, and remains on track for commissioning next year.

"This particular facility will deliver around 460 000 MW hours into the Eskom grid, and we will elect, on a monthly basis, where to apportion this power between the operations.

"This will reduce carbon emissions by over half a million tons per annum, and group energy costs by a further 10%," Dunne reported

Displayed during the presentation were renewable energy facilities that included Thakadu, which is scheduled to be commissioned in mid-2027 – "again, energy delivered to the grid, where we elect to apportion the energy through a wheeling agreement with Eskom on a monthly basis as we choose across the operations.

Pointing out the Eland solar and battery site, he said: "We've just started clearing for construction here, and this will initially be 20 MW, growing to 40 MW, producing initially 55 MW hours of energy, and displacing 60 000 t of carbon per annum.

"At Eland, we have a truly unique opportunity to create the first PGM mine in South Africa, operating solely on renewable energy. In addition, Eland is water positive, and we will phase out external water sources before the end of the decade, truly becoming a green mine.

"We are looking for more renewable opportunity. At this stage, we're only 70% abated on carbon, and there is more we can do but for the moment, that's the project work we do have," Dunne added.

Northam's op...

Mining Weekly Editor Martin Creamer discusses the CSIR’s recent test of digital rock-sounding technology at Harmony Gold’s Mponeng mine; Minerals Council South Africa is positive about the launch of the third phase of South Africa’s Government-Business Partnership; and the next-g

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Canadian metals producer Glencore Canada has reached key shaft development milestones at the Onaping Depth project at the Craig mine, in Subdury, allowing it to access a new orebody for the first time.

This marked a key step toward production ramp-up at the Craig mine and eventual project completion in 2027. First ore from Onaping Depth is expected later this year.

Onaping Depth is part of Glencore's Sudbury Integrated Nickel Operations, with the orebody poised to deliver high-grade nickel and copper ore from almost 2 600 m below surface - the deepest that Glencore Canada has dug in Sudbury.

The mine also marks the first new mine to be developed in the Sudbury basin in more than a decade.

Onaping Depth will operate one of the most advanced battery-electric underground mining fleets in the world. The all-electric fleet ranges from the mining equipment that will drill and prepare the mining face and extract, to service and support vehicles moving people, supplies and equipment.

"Eliminating diesel emissions means less ventilation and cooling requirements, which are traditionally among the largest energy demands in underground mining. The use of battery electric vehicles and the benefits they bring is helping to support both Glencore's broader sustainability objectives and Canada's net zero ambitions," says Glencore Canada COO Peter Xavier.

He adds that together with the Craig mine concentrator and smelter, the Onaping Depth project supports the company's long-term presence in the region and strengthens the future of mining in the Sudbury basin.

By extending mining activities to greater depths, Glencore Canada is unlocking new opportunities and resources that will contribute to the continued success of its operations.

Xavier explains that operating at this depth has been made possible through the company's commitment to innovation, including investments in battery electric equipment, remote operations, and automation technologies.

"Reaching these important project milestones is also a testament to the dedication and collaboration of our employees and contractors, who collectively contributed more than nine-million work hours without a lost-time injury. This outstanding safety performance highlights our unwavering commitment to ensuring that every aspect of the project is completed safely."

Almost $2-billion has been invested on the Onaping Depth project since 2019. Once fully operational, the mine will support more than 400 permanent jobs and extend nickel production in the Sudbury Basin beyond 2040.

Canada Environment, Climate Change and Nature Minister Julie Dabrusin says Onaping Depth is poised to strengthen Ontario and Canada's position as leading suppliers of responsibly produced nickel and copper, which are key components in technologies that support electrification, advanced manufacturing and energy security.

Harmony's underground gold mines producing at 38% free cash margin

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In financial year 2026 (FY26), Mponeng and Moab Khotsong, the high-grade South African underground operations of Harmony Gold, produced 15 t at 9 g/t with a 38% free cash flow margin.

Mponeng, the world's deepest mine, was the primary driver of this performance as Moab Khotsong moves into an ore gap.

Moreover, performance from the South African underground optimised operations has also strengthened year-on-year. These assets produced 17 t of gold and margins expanded to 25%, lifting adjusted free cash flow by phenomenal 284% to around R9-billion.

In addition, Harmony's surface and retreatment assets contributed 7 t at a solid 46% margin.

Harmony's big gold retreatment operations provide "low-risk, high-margin ounces that generate meaningful cash flow by recycling old tailings storage facilities", Harmony CEO Beyers Nel reported at the results presentation of the Johannesburg Stock Exchange-listed company for the 12 months to June 30.

The company's focus going forward is on delivering and unlocking value embedded in what it owns. Expected beyond 2030 are, stronger margins, lower real unit costs, and growing free cash flow.

"Every decision we make is aimed at either improving safety, expanding margins, protecting cash flows, and creating long-term value through disciplined capital allocation.

"As our portfolio continues to evolve, we're pleased that the solid FY26 results reflect this quality and the opportunity inherent in our reserve base.

"It's this consistency that turned a higher gold price into cash certainty. We delivered rather exceptional earnings growth alongside record shareholder returns.

"Our headline earnings per share increased by 87% to R43.63 per share, and the company has declared a record final dividend of R7. 50 per share for a total of R8.2-billion for the financial year.

"Our lost time injury frequency rate of 5.05 per million hours worked is the lowest in Harmony's 76-year history," Nel added during the presentation covered by Mining Weekly.

INTERNATIONAL ASSETS

Hidden Valley produced almost 6 t of gold at an all-in sustaining cost of around R660 000/kg, or $1 200/oz with its adjusted silver-supported free cash flow margin increasing to 68%.

In the eight months since acquisition, the now fully integrated CSA produced 18 200 t of copper at $2.47/lb providing a 22% free cash flow margin.

Harmony FD Boipelo Lekubo highlighted FY26 as a record year on financial metrics such as revenue, which increased by 34% to a record nigh R100-billion. Net profit increased by 102% to R30-billion and headline earnings per share increased by 87%.

"That step up is evidence of the operating leverage in our portfolio," Lekubo pointed out.

Group operating cash flow rose by 48% to R33.6-billion and adjusted free cash flow by 54% to a record R17-billion. Cash and cash equivalents total R8.6-billion, alongside the CSA acquisition.

Strong free cash flow supported a record final dividend of R4.8-billion, lifting

the full year dividend to R8.6-billion, a yield of around 3.5% based on the closing share price on August 25.

"Alongside shareholder returns, it is vital we remain capable of funding our future. During the year, we implemented a funding platform to support the next phase of growth," Lekubo reported.

GOLDEN FOUNDATION

In Harmony, Gold remains the foundation while copper strengthens the portfolio, adding diversification, resilience, and future growth.

"But this strategy is not about volume. It's a strategy about value, value created through higher quality assets, better returns, and disciplined capital allocation," Nel explained.

"Growth always matters, but only if it strengthens the portfolio and creates long-term value.. Every ...

This audio is brought to you by Endress and Hauser, a global leader in process and laboratory measurement technology, offering a broad portfolio of instruments, solutions and services for industrial process measurement and automation.

Australian iron-ore and lithium miner Mineral Resources (MinRes) has reported its strongest financial result in its 20-year ASX-listed history, with record underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) having increased by 183% year-on-year to $2.6-billion.

The group's underlying net profit after tax increased by 831% year-on-year to $822-million, while it generated significant free cashflow of $849-million, in the year ended June 30.

MinRes declared a full-year dividend of $0.83 apiece, representing a 20% underlying net profit after tax payout ratio.

The group reduced its net debt by $1.1-billion to $4.3-billion in the year under review, which reduces its net debt-to-underlying Ebitda margin from 5.9 times in the prior year to 1.7 times in the reporting year.

Group attributable iron-ore production was 341-million tonnes in the reporting year, accounting for $689-million of underlying Ebitda, while lithium production was 34.4-million tonnes, accounting for $289-million of underlying Ebitda.

Overall, mining services underlying Ebitda reached $976-million owing to record volumes, with iron-ore remaining the largest contributor.

Record volumes across all divisions and improved commodity prices supported record revenue of $6.5-billion for the group, which marked a 44% year-on-year increase.

For chairperson Mal Bundey, the year was one of meaningful progress on balance sheet priorities and governance, which, coupled with years of strategic investment, resulted in record financial and operational results.

MD Chris Ellison points out that the Onslow Iron operation achieved nameplate capacity of 35-million tonnes a year in August 2025, just three years after a final investment decision on the project was reached. The company plans to operate Onslow beyond nameplate capacity, to restart the Bald Hill lithium operation and ramp it up to nameplate capacity, as well as increase volumes at the Mt Marion lithium mine through a new flotation plant and underground mining in the new financial year.

"The arrival of transhippers six and seven has increased Onslow's installed capacity towards 40-million tonnes a year and ensures sufficient redundancy as we rotate the fleet through maintenance.

"Further, following years of investment to improve plant recoveries and reduce costs, our three lithium assets are well placed to capitalise on improved prices as demand is driven by energy storage and the transition to electric vehicles," Ellison explains.

At the Wodgina lithium operation, after several years of increased stripping, MinRes expects clean ore to feed all three trains from the second quarter of the 2027 financial year and to increase sales volumes by between 14% and 23%.

"Our priorities for the 2027 financial year are to achieve guidance across all divisions, execute low-risk, high-return brownfield investments, continue to strengthen the balance sheet and ensure MinRes is positioned for a next phase of growth within its significantly improved governance frameworks and capital allocation model," Ellison states.

MinRes has set its 2027 financial year guidance at between 370-million and 390-million tonnes for the mining services division, which includes attributable iron-ore and lithium production.