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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...

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  • Seasoned campaigner Ben Magara to assume Exxaro CEO role from April 1
    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. JOHANNESBURG (miningweekly.com) - Mining veteran Bennetor (Ben) Magara has been appointed as the new incoming CEO of Exxaro Resources, effective from April 1. Magara, a mining engineer with more than 35 years of mining industry experience, will succeed acting CEO Riaan Koppeschaar, who will continue in his role as Exxaro FD. A former CEO of Lonmin and Anglo Coal South Africa, and former executive engineering and projects head for Anglo American Platinum, Magara is chairperson of Africa Mining & Metals and also serves as nonexecutive director on the boards of Weir and Grindrod. With soft and hard rock mining experience at underground and opencast operations, Magara has a reputation for driving operational excellence and providing strategic leadership. He is credited with doing so at multiple large mining operations from his early days at Anglo American Coal and most recently, and notably, the stabilisation, restructuring, and turnaround of Lonmin plc and its subsequent disposal to Sibanye Stillwater, creating the world's largest PGM producer. In 2020, Magara founded Africa Mining & Metals, a mining and advisory company focused on battery metals and precious metals. He has also spent several years in the Democratic Republic of Congo's mining industry advising in the Copperbelt. He will remain an independent nonexecutive director at Weir Plc, a FTSE100 company, and will step down from the board of Grindrod as of April 1. Exxaro chairperson Geoffrey Qhena spoke of Magara bringing a wealth of mining leadership, and global board and governance experience to Exxaro, along with a reputation for impeccable integrity. "We're confident Ben will stabilise the organisation and continue to drive forward our growth and sustainability strategy, particularly with the knowledge he brings from being chairman of our investment committee," Qhena added in an Exxaro media release to Mining Weekly on Thursday, March 13. Qhena also emphasised that Magara's extensive experience as an engineer, mine manager, corporate leader, and listed company CEO, would be valuable to Exxaro as it continues to maximise the value of its current assets while accelerating prudent transition into a diversified minerals and renewable energy solutions business. Exxaro lead independent director and nomination committee member Geraldine Fraser-Moleketi described Magara as a seasoned mining executive who is highly regarded for his people skills and emphasis on teamwork and collaboration and expressed delight that his appointment had the unanimous support of the Exxaro board. "As trusted and experienced CEO, he has excellent knowledge of the company and industry and is well-prepared to lead," Fraser-Moleketi added. Meanwhile, Koppeschaar was thanked by Qhena for playing "a sterling role" as acting CEO. The announcement of Magara as the new CEO coincided with Exxaro - a large South Africa-based diversified resources group, with interests in the coal, energy and ferrous markets - releasing its reviewed condensed group financial statements for the year ended December 31.
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  • ‘Very promising’ narrow-reef boring technology nearing rollout stage, ARM reports
    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 rollout of new narrow-reef boring technology, which has the potential to boost platinum group metal (PGM) grades, lower unit costs, enhance safety, and streamline downstream materials handling, will commence at Bokoni Platinum Mines in Limpopo in January. African Rainbow Minerals (ARM) executive: growth and strategic development in the executive chairperson's office Mike Schmidt outlined this during question time following the Johannesburg Stock Exchange-listed company's presentation of financial results on March 10, which was covered by Mining Weekly. (Also watch attached Creamer Media video.) A novel tunnel boring machine (TBM) will open up Bokoni's narrow tabular dipping PGM orebody to allow narrow-reef boring to take place, so that upper group two (UG2) reef extraction is maximised and low PGM content waste minimised. PGM ounces are concentrated in a very narrow 60 cm reef width. By targeting the high-grade UG2 reef and minimising dilution, the mined stoping grade can be uplifted by as much as 60%. Bokoni PGM mine's UG2 is being grasped as the opportunity to implement what is perceived to be a paradigm shifter that will take people out of the stopes, open the way for explosion-free mining, lift grade and even shrink tailings requirements. "We'll start cutting by January. We're very positive that this is not only going to be a change towards safer, more rapid, more cost-effective mining, but also far more profitable mining, not only for ARM, but for the industry at large," an upbeat Schmidt enthused. Conventionally, only a two-metre advance can be achieved a day, which prompted ARM to tailor TBM technology to suit Bokoni's narrow tabular dipping UG2 reef. The ready-built TBM is now scheduled to be mobilised by end of next month, "at the latest", and to start cutting by the end of July, paving the way for the introduction of narrow-reef boring in January, by narrow-reef boring machines that will be equipped with position sensing and steering capabilities to follow the UG2 reef horizon. Interestingly, the new technology also comes with distinct downstream handling advantages, reduced tailings management, as well as a propensity to advance from mechanisation to automation. A benefit of reef boring is consistent rock chip size, which eliminates the need for underground rock breakers and crushers and provides the option to pump rock chips directly to concentrator plants. Performance targets have been based on a typical mechanised stoping crew at a bord-and-pillar operation where 15 000 t a month would be typically achieved and a grade of about 3.3 g/t, which provides the equivalent of 50 kg of PGMs a month, or 1 600 oz. ARM has partnered with Herrenknecht, a German company known for designing and manufacturing tunnel boring machines, and Master Drilling, the Johannesburg Stock Exchange-listed South African company that specialises in reef boring solutions. Herrenknecht has addressed the cross sectional challenge by using three overlapping cut heads in one frame, while Master Drilling has focused on attaining a rectangular cut profile instead of a circular one. Both approaches aimed at increasing production and reducing waste.
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  • South Africa can return to being global ferroalloy hub, ARM’s Andre Joubert reiterates
    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 has extensively tested highly convincing home-grown smelting technology that has the potential to re-establish this country as a global ferroalloys hub by enabling it to produce quality, low-cost, ferromanganese and ferrochrome - and even some forms of steel to boot, African Rainbow Minerals (ARM) Ferrous CE Andre Joubert highlighted very explicitly in an interview with Mining Weekly. Joubert's firm stand follows the comment of Glencore Operations South Africa CEO Japie Fullard during question time at Merafe Resources' presentation of 2024 financial results on Monday, March 10, that the results of the pilot testing of the new Proudly South African SmeltDirect technology are "looking great". The Glencore team spent the whole of last week at the operation where chemical reactions rather than large electricity volumes smelt ore. "I must say that the partnership that we've got is really working well," Fullard enthused. Very importantly, the partnership involves ARM and Glencore commercialising SmeltDirect, which when retrofitted to existing smelters lowers the electricity requirement substantially, reduces costs to a level that could invite the competitive recommissioning of many of South Africa's idled ferroalloy smelters, and opens the way for considerably greater environmental protection by driving down carbon emission. "We've made fantastic progress," said Joubert, who is exceedingly bullish about the prospect of the new technology creating a platform for South Africa's return, in significantly competitive fashion, to the ferroalloy renown this country once enjoyed - and some. "This is something that can revitalise all the dormant plants that we've closed down over many years in South Africa," he noted. Capital cost hinges largely on the production volume required, with work done putting capital at about $175-million to $180-million per 200 000 tons a year (t/y), a fraction of what it would cost to establish a new greenfield plant from scratch. "We can revive existing plants in the exact area where they are. Infrastructure is already there, licensing and all those things are already in place, so if we really want to, we can accelerate this quite hard," Joubert outlined. Every detailed due diligence undertaken has concluded that the technology will work. "We've been doing detailed work with Glencore for the past month, and I think we'll be able to give you some news by the end of May to say whether we're going to advance this project to a commercial state or not," Joubert forecast. Mining Weekly: Will ARM be reviving its own Machadodorp smelting complex in Mpumalanga? Joubert: That's what we're planning and that's the engagement we're having with Glencore right now, that both companies develop this together. Is this partnership approach open to others? We haven't gone to that level yet, and I guess once we've done this preliminary work, we'll make those announcements. To what extent is this technology more environment-friendly than conventional technology? This is one of those almost unintended benefits of this whole process. Obviously, our initial focus was to get the electricity improvement, but through this process, we now find, just on the chrome side, that by just using anthracite, we'll be 35% less carbon-emitting than conventional processes, and we can take a further step using charcoal as a reductant agent, which will bring us down by 65%. Because a big whack of energy is no longer required, you can then apply green electricity to that, so you can almost come down to carbon zero, or at least be carbon neutral. But I'm not putting out today that next week it will be carbon neutral. We're going to take this first process sort of conventionally and then bring it down by 35%. We've already d...
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  • New ferroalloy technology pilot results ‘looking great’, Merafe presentation hears
    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 results of the pilot testing of a new Proudly South African smelting technology, which lowers electricity usage and has the potential to render local ferroalloy beneficiation globally competitive once more, were described as "looking great" during question time at Merafe Resources' presentation of 2024 financial results on Monday, March 10. These words were uttered amid Merafe reporting that global stainless-steel production increased in the period, as did demand for ferrochrome, the feedstock on which it depends. Stainless steel is used almost everywhere in modern life, from nuclear reactors to exhaust pipes, architecture, kitchenware and a host of other applications. South Africa's major advantage is that it hosts most of the world's chrome resources and chrome is regarded as a metallurgical major in the manner in which it brings critical properties to the metals with which it is alloyed. Against that background, South Africa became the world's leading ferrochrome producer at a time when South Africa was one of world's lowest cost producers of electricity. At one stage, installed ferrochrome capacity was 4.8-million tons. Getting back to that competitively would be of substantial benefit to the South African economy and should be implemented, many say, as part of a public-private programme. London- and Johannesburg-listed Glencore owns 28.82% of Merafe and South Africa's State-owned Industrial Development Corporation 21.88%. Merafe has a 20.15% stake in the Glencore-Merafe Joint Venture, which produced some 1.5-million tons of ferrochrome in the 12 months to December 31 but has the capacity to produce considerably more with the right technology. The Johannesburg Stock Exchange-listed company is currently reviewing smelting operations, leveraging technology for optimisation and cost reduction, and focusing on environmental sustainability, which includes a new solar plant. Asked by an analyst about the extent to which the envisaged 100 MW renewables project would provide the venture's power needs, assuming all 22 furnaces are operational, Merafe FD Ditabe Chocho responded that although it would be a fraction of what the smelters need to produce, it would be sizable enough to make a difference towards cost reduction and decarbonisation. "Our total requirements, from a smelters point of view, are in the region of 800 MW to 900 MW," Chocho added. Pilot trialling to date has indicated that by retrofitting Proudly South African SmeltDirect to smelters can slash their electricity requirement by up to 70%, take them to the low end of the cost curve, and render them far more environment-friendly. In the meantime, South Africa's once leading status in the global ferrochrome field has been reduced to having to export increasing volumes of raw ore and decreasing volumes of ferrochrome, which is of considerably higher valued and which is easier to transport. SmeltDirect is seen as potentially being able to put the emphasis back on not only value-added ferrochrome production but also ferromanganese and other ferroalloys. Merafe reiterated during question time, after presenting a 62% decrease in basic earnings per share to 26.7c, its preference is to convert chrome ore into value-adding ferrochrome. "Our first prize will always be to convert the chrome into ferrochrome because we believe, from a South African perspective, ferrochrome production should happen in South Africa," Glencore Operations South Africa CEO Japie Fullard emphasised in reply to an analyst. Asked by Mining Weekly about the trialling of the new SmeltDirect technology, which some say has the potential to restore South Africa to its former ferroalloy glory, Fullard was called upon by Chocho to respond and this is what he said: "I'm sure you're well a...
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  • African Rainbow Minerals is confident platinum group metals pricing will increase
    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. Dr Patrice Motsepe, the executive chairperson of the diversified mining company African Rainbow Minerals, on Friday expressed confidence that platinum group metal (PGM) prices will increase in the medium to long term. "We're confident that, in the medium to long term, the pricing of our PGM metals will increase and it's a business that we have confidence in.PGMs are part of our of our portfolio of assets that we run and operate that we think will do well. "I often get asked questions by our share with us about Bokoni and what we've said over the years is that Bokoni is a world-class orebody and we're confident that once some of the plans that we have and some of the strategies that we have in the medium to long term, it will create value for shareholders," Motsepe outlined. To preserve cash in the current PGM price environment, major expansion plans at the Bokoni PGMs mine have been deferred and a Section 189 process to right-size the mine has commenced. In the six months to the end of December, ARM Platinum's headline earnings fell 144% to record a R680-million loss compared with the corresponding period of financial year (FY) 2024. Overall headline earnings for the six months decreased by 49% to R1 520-million and the Johannesburg Stock Exchange-listed company, which has net cash of R6 073-million, declared an interim dividend of R4 50 a share amounting to R1 011-million for the first half of its FY 2025. "The declaration of dividends goes hand-in-hand with an important investment in the future. "We invest in the minerals that we have, including others that we are pursuing, and you have to take a long-term perspective, particularly the context of PGMS, but also in all minerals," Motsepe said during the presentation of half-year results covered by Mining Weekly. ARM mines and beneficiates iron-ore, manganese ore, chrome ore, PGMs, nickel and coal and also has a strategic investment in gold through Harmony Gold Mining, which Motsepe also chairs. "The pricing can be very cyclical. We've been in this business for more than 30 years, and we understand it. "During the good times, we invest in the future, and during the difficult times, that's when there are opportunities, but also that's the time when companies with a strong balance sheet and world-class management will always perform well." The lower average realised export iron-ore prices and stronger rand-dollar exchange rate were partially offset by higher manganese ore and alloy prices. Construction of ARM Platinum's 100MW solar photovoltaic facility is progressing on schedule, with the first power delivery expected in August. With the definitive feasibility study for renewable energy at ARM Ferrous was completed in December, various funding models and energy mix options are being reviewed.
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