Editor’s take: The colour yellow has traditionally been a symbol of hope, joy and happiness; and with gold and uranium – in strong demand, miners of these commodities are certainly radiating happiness. Gold hit some high notes early in April surging above $2 300/oz and sending markets into a frenzy. Uranium too is tracking prices not seen in a while. Although gold's contribution to the South African economy has declined significantly over the years, it still contributes about 15% to overall South African mining output. Interesting news from the gold sector is that Harmony Gold will extend the life of Mponeng mine – the world’s deepest gold mine, stretching more than four kilometres below ground, by 13 years. The miner announced an investment of R7.9bn to extend the life of the Mponeng mine from seven to 20 years, with works scheduled to commence in 2025.
On the cover
MetSop embarking on a journey to revolutionise flotation reagents development with AI
In the dynamic realm of mining technologies, MetSop, a leading flotation reagents company, continues to push the boundaries by embracing the transformative potential of artificial intelligence (AI) and dry lab concepts. With an unwavering commitment to innovation, MetSop is poised to revolutionise the development of flotation reagents, driving efficiency, sustainability, and profitability to unprecedented heights.
Uranium’s oxide rush
The tiny global commodity market of uranium is having a moment. Since its dormant days of 2015-20, the trade’s flagship oxide price has reported a stunning 250% lift to just over US$100/lb in January. What prompted the rally? It’s the outcome of a series of macro-scale events – beginning with the universal price driver of post-lockdown’s demand recovery, boosted then by 2022’s war-spike of global energy markets, buoyed more recently by the market realisation that nuclear power can help us decarbonise global power generation.
Junior mining funding focus
South Africa’s junior mining sector, which generated R88 million in annual revenue in 2021, is set to get a shot in the arm from the Junior Mining Exploration Fund (JMEF), a fund established by the Industrial Development Corporation (IDC) in partnership with the Department of Mineral Resources and Energy (DMRE). The first call for the fund, which is allocating R400 million to companies to progress mineral exploration, is set to open in May 2024.
Southern Palladium lines up Bengwenyama for construction in 2026
Platinum group metals developer, Southern Palladium, which is lining up its Bengwenyama project on the Eastern limb of the Bushveld for construction in two years’ time, says that presenting its project to investors at the Mining Indaba’s 1-2-1 event, lifted the profile of the project tremendously.
CLICK TO DOWNLOAD AND READ THIS ISSUE IN PDF FORMAT.
