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Mponeng Gold Mine – the world's deepest mine at a depth of 4 km with extension towards 4.22 km planned – has delivered another strong quarter, Harmony reported in its operational update for the three months ended September 30.

In the first quarter of Harmony's financial year 2027 (FY27), the recovered grade at Mponeng, near Carletonville in South Africa's Gauteng province, increased by 10% to 11.55 grams of gold per ton (g/t) and production was steady at 2 725 kg (87 611 oz).

The overall average gold price received in the quarter was a 17%-higher R2 123 588/kg ($4 057/oz).

Gold all-in sustaining costs were at the lower end of guidance, the business continued to generate strong cash flows and the Johannesburg Stock Exchange-listed gold and copper mining company remained confident of meeting FY27 guidance for production, cost and grade.

Gold revenue increased by 3% to R22.3-billion and copper revenue hit the R1 280-million mark on an average received copper price of $6.44/lb.

In line with guidance, overall group gold production was a 12%-lower 10 661 kg (342 758 oz) and 7 077 t of copper were produced. Comparable reporting period did not include Harmony's CSA copper mine.

"Five years ago, Harmony was predominantly a South African gold producer. Today, we are a higher-quality gold and copper producer operating in South Africa, Papua New Guinea and Australia, with a clear growth trajectory," Harmony CEO Beyers Nel pointed out in a release to Mining Weekly.

"Margins at our gold operations remain robust. CSA is now an established part of the group, contributing copper revenue alongside our gold," added Beyers, while pointing out that the Moab Khotsong gold mine, near the Orkney and Klerksdorp and straddling the North West and Free State provinces, is moving through its planned gold ore gap while the Eva copper project in Australia remains has passed another approval milestone on its path to production.

Production at Tshepong North gold mine increased by 23% to 1 020 kg (32 794oz) driven by higher tonnes milled and higher grades.

Harmony has attributable gold mineral reserves of 27.4-million ounces and copper mineral reserves of four-million tons.

Having completed the first quarter of FY27, group full-year gold production of 1 400 000 oz to 1 500 000 oz and 28 000 t to 30 000 t of copper are being guided.

Mponeng's life-extension programme continues to advance access to the Ventersdorp contact reef and carbon leader reef below existing infrastructure alongside the Tau Tona pillar extraction project. Together, these will access about 3.6-million ounces in reserves.

The Moab Khotsong's Zaaiplaats extension provides access to about 3.8-milloion ounces in high-grade gold resource below existing infrastructure.

Tshepong's life-extension project had a positive first quarter, with development ahead of plan, costs aligned with the overall estimate and initial construction milestones on track. The project accesses 1.1-million ounces in reserves and extends the life of the mine to 15 years while leveraging existing infrastructure.

Quarterly development of Doornkop gold mine's 207/212 life-was ahead of plan and ventilation and electrical infrastructure milestones completed. The 207/212 project is designed to replace production tonnes from existing levels and accesses 1.3-million ounces in mineral reserves. This project includes additional exploration drilling to increase the resources available for mining.

At Mine Waste Solutions surface mining operation, the Mispah 1 pump station was commissioned enablingreclamation of the 71-million tonne Mispah 1 tailings facility.

On the renewable energy front, Harmony's Sungazer 2 is progressing through phased energisation and further solar and battery-storage projects are...

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 institution Curtin University has launched a world-class atom probe and advanced manufacturing hub, with the two newly established research facilities poised to strengthen advanced manufacturing and scientific capabilities in the mining, critical minerals, energy and geoscience sectors.

The Photon Forge Additive Manufacturing and Geoscience Atom Probe facilities are based in the John de Laeter Centre at the university, which now form Curtin's hub for metal additive manufacturing.

Notably, the Photon Forge Additive Manufacturing facility brings together small- and large-scale manufacturing systems that can produce, repair and enhance metal components used in mining and energy industries. The facility has the largest 3D metal printer in Western Australia and is able to work with materials such as stainless steel, aluminium, copper alloys, titanium alloys, nickel superalloys and refractory metals.

The facility's leader Dr Karl Davidson says the focus is on helping industry identify where additive manufacturing can deliver the greatest operational and commercial value while advancing research, training and collaboration.

The Photon Force Additive Manufacturing facility is already part of a $600 000 project with Additive Manufacturing Cooperative Research Centre to explore additive manufacturing opportunities in Australia's maritime and defence supply chains.

"This facility gives us the ability to work with industry across the full additive manufacturing process, from component and alloy design to production, analysis, qualification and certification.

"By working with industry on real-world projects, we can accelerate the adoption of additive manufacturing, strengthen capability and build more resilient Australian supply chains," Davidson states.

In turn, the Geoscience Atom Probe facility is focused on the application of atom probe tomography to the Earth and planetary sciences. The CAMECA LEAP 6000 XR atom probe within the facility is the first of its kind in Australia, and will allow researchers to analyse the composition of materials and minerals at near-atomic scale. The atom probe can reveal nanoscale variations in the chemistry and isotopic composition of materials that would have otherwise been impossible using conventional analytical techniques.

"The new instruments are placing world-class research and manufacturing tools in the hands of students, researchers and industry. This infrastructure strengthens Curtin's research capability and gives industry access to the expertise and technology needed to turn new ideas into practical solutions for Australia's critical industries," says Curtin vice-chancellor Professor Harlene Hayne.

Geoscience Atom Probe facility leader Professor David Saxey explains atom probe tomography helps researchers to understand how minerals and other materials are formed, how they have changed over time and how tiny features within them can influence their properties and performance.

"The new instrument's improved detection efficiency and shorter-wavelength ultraviolet laser will allow us to analyse a broader range of minerals and materials, opening new research opportunities in geochemistry, mineralogy, planetary science and materials characterisation," Saxey says.

The new infrastructure ultimately reinforces the John de Laeter Centre and the Curtin University's positions as world-leading research infrastructure institutions, with end-to-end research capability that can enable breakthrough discoveries and accelerated solutions to real world industry challenges.

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The on-schedule construction of a copper mill in Zambia by Barrick Mining as part of the Lumwana expansion project is heading for completion in the fourth quarter (Q4) of this year, the New York and Toronto-listed gold and copper producing Barrick reported on Monday, November 9.

Since inception, $795-million capital has been spent to date with total expected project capital remaining on target at $2-billion.

First copper is expected at the end of the first quarter of 2028 with the expansion project doubling production to 240 000 tons a year (t/y) from the current 117 000 t/y.

All major long-lead equipment has been procured, and the mill shells and trunnions, primary crusher, and tailings thickener are already on site.

The primary crusher's third level is nearly complete, work on the tailings storage facility is expected to commence in Q4 2026, and the last mill wall lifts are expected to be completed in in the same quarter.

Lumwana's life of mine at the expanded production levels is 30 years.

In the three months to September 30, Barrick produced 50 000 t of copper, which with the 816 000 oz of gold generated $5.07-billion in revenue, $2.49-billion in operating cash flow, $1.80-billion in attributable operating cash flow, and $0.64-billion in attributable free cash flow.

Net earnings per share for the quarter were a 5%-higher $0.80, and adjusted net earnings per share were a 41%-higher $0.82 compared with Q3 2025.

"We remain on track to achieve our full-year production guidance," Barrick president and CEO Mark Hill stated in a release to Mining Weekly.

Barrick continues to expect 2026 gold production to be 2.90-million ounces to 3.25-million ounces and copper production remains unchanged at 190 000 t to 220 000 t.

Guidance is based on an oil price assumption of $70 per barrel. For every $10 per barrel change in the oil price, the direct impact on costs associated with diesel consumption is about $12/oz across Barrick's gold operations, and $0.04/lb across its copper operations.

Total attributable capital expenditure was reduced from $3.8-billion to $4.2-billion on lower anticipated spending at the Reko Diq project, one of the largest undeveloped copper-gold projects in the world. Barrick owns 50% of Reko Diq and three federal state-owned enterprises own 25%. Of the remaining 25% owned by government of Balochistan, 15% is on a fully funded basis and 10% on a free carried basis.

THIRD-QUARTER COSTS

Gold's cost of sales for Q3 2026 was $1 950/oz, up from the $1 562/oz for the corresponding period of last year, primarily reflecting lower grades processed, higher royalties associated with increased realised gold prices, and elevated diesel prices.

Total cash costs increased to $1 386/oz from $1 137/oz and all-in sustaining costs (AISC) increased to $1 911/oz from $1 538/oz primarily reflecting the same cost pressures, as well as higher sustaining capital expenditures.

Copper's cost of sales rose to $3.65/lb, C1 cash costs to $2.76/lb and AISC to $4.52/lb on higher diesel prices, and local currency appreciation, particularly in labour costs.

Third-quarter net earnings of $1.32-billion compared with $1.30-billion last year while adjusted net earnings were $1.35-billion compared with $0.98-billion.

Revenue increased 22% year-on-year to $5.07-billion, earnings before interest tax depreciation and amortisation (Ebitda) increased 13% to $3.22-billion, and attributable adjusted Ebitda 22% to $2.47-billion. Operating cash flow totaled $2.49-billion and attributable free cash flow was $0.64-billion.

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.

The nickel market is poised to expand to $80.68-billion by 2031 compared with $57.59-billion in 2026, which is an estimated compound annual growth rate (CAGR) of 7% over the period, finds consultancy MarketsandMarkets in its global nickel market forecast to 2031 report.

The firm says global nickel market growth is being driven by increasing demand for stainless steel, nickel-based alloys, electric vehicle (EV) batteries and other industrial applications.

Asia Pacific accounted for 85.7% of the nickel market in 2025, which is supported by large-scale stainless steel production, expanding industrial activity, strong nickel refining capabilities and investments in battery manufacturing in China, Indonesia, Japan, South Korea and India. Indonesia's expanding nickel mining and smelting, coupled with China strong stainless steel manufacturing base, in particular, strengthens the region's market position.

In Europe, the nickel market is supported by demand for stainless steel and specialty alloys, investments in EV battery manufacturing and efforts to strengthen local battery-material supply chains.

MarketsandMarkets further finds that North America is experiencing nickel market growth owing to investments in EV batteries, demand for high-performance alloys in aerospace and energy applications, and initiatives to strengthen critical mineral supply chains.

Meanwhile, South America benefits from nickel resources and mining activities, particularly in Brazil, alongside investments in mineral extraction and processing.

The Middle East and Africa region is supported by nickel mining and processing activities, particularly in countries such as South Africa and Madagascar, as well as investments in mineral development and industrial infrastructure.

MarketsandMarkets says regional market growth will continue to depend on stainless steel demand, battery chemistry trends, nickel prices, and the expansion of mining and refining capacity.

By form, the nickel sulphate market, or battery-grade market, is estimated to grow at a CAGR of 11.5% between 2026 and 2031. This segment is supported by increasing demand for high-purity nickel compounds used in lithium-ion battery cathode manufacturing. MarketsandMarkets says growing EV production, expanding battery manufacturing capacity and increasing demand for nickel-rich cathode chemistries such as nickel-manganese-cobalt or nickel-cobalt-aluminium are contributing to nickel sulphate market growth.

By application, the rechargeable battery cathodes segment is anticipated to record a CAGR of 13.7% over the period, driven by increasing demand for nickel-containing cathode materials used in EV batteries and select energy storage applications. However, the growing adoption of lithium-iron-phosphate batteries, which do not contain nickel, may moderate nickel demand growth in certain EV segments.

The automotive and e-mobility industry itself is anticipated to grow by 11.6% over the period.

INVESTMENT FLOWS

MarketsandMarkets finds that major nickel producers are investing in capacity expansion, high-pressure acid leach projects and nickel sulphate production to serve stainless steel manufacturers and battery supply chains. Indonesia, for one, is attracting substantial investment in its nickel mining and downstream processing, while North America and Europe are focused on supply chain diversification, battery material production and recycling.

Investments are also directed toward improving processing efficiency, recovering nickel from end-of-life batteries, and reducing the environmental footprint of production.

These developments are supporting investment across the nickel value chain, although project economics remain sensitive to nickel prices, capital intensity, permitting re...

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.

By optimising existing operations and leveraging established infrastructure, gold mining company AngloGold Ashanti is targeting the addition of more than 400 000 oz of annual gold production by the end of 2029.

The Johannesburg Stock Exchange-listed AngloGold is expecting an additional 130 000 oz from Obuasi in Ghana as this gold mine ramps up, 100 000 oz from Siguiri in Guinea, 100 000 oz from Geita in Tanzania, and 75 000 oz from Cuiabá in Brazil.

At Obuasi, AngloGold is continuing to look for ways to derisk this asset by building operational flexibility and consistency.

The targeted 130 000 oz/y production growth on top of last year's base of 260 000 oz will take output to 400 000 oz/y.

A structural challenge being tackled includes the elimination of historical single point bottlenecks amid blocks eight and ten currently being accessed from one decline.

With the KMS shaft not working, there is only one way out. In October 30 000 oz of ore was mined but lack of flexibility is an issue.

"We'll expand this in 2029 to four distinct areas of operation. This decongestion is critical for securing unimpeded ore delivery to the surface as we run towards our 400 000 oz target," AngloGold CEO Alberto Calderon explained during this week's presentation of results covered by Mining Weekly.

To ensure the mill stays fed even if underground constraints arise, alternative ore resources are being established. A nearby openpit that has been identified that would provide about 25 000 oz in 2027 and the plan is to go to 50 000 oz around 2028.

Also, the shallower, higher-grade Cote d'Or mining area is being evaluated to establish safe access to additional mining areas through another decline by the first half of 2029.

This provides flexibility while the main underground ramps up, and we're also advancing the deep decline on track to reach higher Block 11 next year.

The KMS shaft was built fundamentally for Block 11, which will almost exclusively be operated through KMS.

Optimising the development sequences and gaining early access through the KMS shaft will be a margin catalyst for the asset, bringing in ore at about 50% higher grade than the average underground mine reserve grade.

SIGUIRI TIER 1 POTENTIAL

At Siguiri, the objective is to unlock Tier 1 potential by developing additional full-grade ore sources to directly displace current marginal stockpile feed.

Total estimated capital expenditure (capex) of around $70-million is expected to fund the planned 100 000 oz/y production growth.

"This growth is driven by two near-pit developments. First is Block 3, which sits roughly 50 km from Block 1, with the haul road and infrastructure construction nearing completion, mining expected to start by around year-end, and first gold targeted in the first half of next year," Calderon reported.

Block 3 is projected to add 40 000 oz/y to 50 000 oz/y over the next five years.

Operationally, this allows Block 3 to be fed at an average grade of 1.22 g/t, replacing 0.55 g/t material in the plant feed.

Also, land agreements are being finalised to secure land packages and complete site preparation to ramp up mining from the satellite deposit in Block 1. Mining is expected to commence and the targeted date for first gold from the satellite deposit is late next year. This will provide an even higher-grade feed at 1.64 g/t, further displacing the low grade ore sources.

To support medium-term growth, a prefeasibility study will begin next year to increase Siguiri's hard rock treatment capacity. This will provide the processing capacity needed to handle harder, fresh rock over the longer term to deconstrain the mining schedule for additional full-grade ore.

This year's total reaffirmed gold production guidance is 2 800 000 oz to 3 170...