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  • South Deep produces 24% more gold, on track to meet guidance, Gold Fields 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.
    After addressing backfill leakage and rehandling issues and transitioning into higher-grade areas, the big South Deep gold mine west of Johannesburg has delivered a 24%-higher 72 200 oz first-quarter output, Gold Fields reported on Tuesday.
    The long-life mechanised South African mine, now in a much-improved position, remains on track to meet full-year 280 000 oz to 305 000 oz guidance.
    Focus over the medium term remains delivery of safe, predictable production, incremental improvement and setting the foundations for long-term growth of the operation, Johannesburg- and New York-listed Gold Fields added.
    South Deep's all-in costs were a 10%-better $1 737/oz. First-quarter capital expenditure (capex) increased by 26% to R43-million on underground mobile equipment replacement and refurbishments and higher surface infrastructure maintenance.
    Overall group gold production was 551 000 oz in a quarter in which production returned to more normalised levels amid all-in sustaining costs (AISC) at a 7%-lower $1 625/oz year-on-year and AIC $1 861/oz.
    Gold Fields is on track to meet full-year guidance of between 2.250-million ounces and 2.450-million ounces. AISC is expected to be between $1 500/oz and $1 650/oz and AIC between $1 780/oz and $1 930/oz.
    Group capex also remains unchanged, with total capex for the year expected to be between $1 490-million and $1 550-million. Sustaining capital is expected to be from $940-million to $970-million.
    TWELVE-MONTH GHANA EXTENSION
    Gold Fields has reached an agreement with Ghana for a way forward for the Damang mine following a rejection of its application to renew the Damang main mining lease in March. As part of this agreement, the government will, subject to parliamentary ratification this month, grant an extension of the lease to Gold Fields for 12 months from April.
    During this period, Gold Fields will continue to process stockpiles and concurrently recommence opencast mining, subject to obtaining the requisite approvals.
    "We'll also progress and finalise the detailed bankable feasibility study to extend the life of Damang mine, including undertaking the required infill drilling to improve confidence in the mineral resources," the company stated in a release to Mining Weekly.
    Gold Fields has support for continuing to operate at Tarkwa, where preparation has begun for the application to extend the Tarkwa mine leases, which are due for renewal in 2027.
    Requisite approvals are also being sought for the proposed joint venture between Gold Fields and AngloGold Ashanti on the neighbouring Tarkwa and Iduapriem mines.
    RAMPING-UP IN CHILE
    Salares Norte in Chile produced a 13%-higher 50 000 oz gold equivalent and the process plant is being prepared to operate through the winters. To further mitigate the risk of freezing in the plant, additional heat tracing is being installed. Numerous simulation exercises and plant shutdowns have been undertaken to fine-tune operational procedures should an extreme weather event occur.
    Salares Norte's guidance remains unchanged, with 2025 gold equivalent production expected to be between 325 000 oz gold equivalent and 375 000 oz gold equivalent at an AISC of $975/oz gold equivalent to $1 125/oz gold equivalent, and 2026 set to be the first full year of steady-state production.
    Extensive exploration drilling is under way to identify life extension opportunities at Salares Norte and Gold Fields has budgeted $23-million on exploration drilling and greenfield activities in the area for 2025.
    WINDFALL PROJECT
    The focus at Canada's Windfall project during the first three months of this year remained on progressing the permitting process, with the aim of obtaining the required environmental approvals during the second half of this year to support full-scale...
    5 min
  • The good gold price is providing much more capex confidence, says chief financial officer
    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 good gold price is providing gold mining companies with much more confidence to execute capital programmes, and a sentiment doing the rounds is that South Africa should, in every respect, make the most of it while it lasts.
    Many brownfield gold-mine extensions will now likely make economic sense and the assumption is that at least portions of better cashflows will be deployed to fund further on-strike probes as well as the maximum recovery of gold from on-surface tailings.
    The first quarter of this year saw gold investment demand soar 170% to 552 t and overall gold demand hit the 1 206 t mark, World Gold Council stated in its latest report.
    A poll of 29 analysts and traders returned a median gold price forecast of $3 065/oz for this year, up from the $2 756 predicted three months ago. The poll price estimated for 2026 rose to $3 000 and some big guns even dared to predict $4 000/oz by the second quarter of next year and close to $5 000/oz in 2028.
    The prevalent South African outlook is that the gold price will remain at elevated levels for some time, and that South Africa's public and private sectors should work together now to enable mining in general and gold mining in particular to perform at full economic and socioeconomic potential.
    DRDGOLD CFO Riaan Davel is one of many who are expressing keenness to see South Africa take up the opportunities that the good gold price is continuing to present. (Also watch attached Creamer Media video.)
    Davel highlighted the additional confidence that the good gold price is instilling during an interview with Mining Weekly on the sidelines of 130th anniversary of DRDGOLD's listing on the Johannesburg Stock Exchange (JSE).
    "It's giving us much more confidence to execute our capital programme. Over the next couple of years, we'll be building a massive facility on the Far West Rand, the RTSF (a regional tailings storage facility), with a capacity of 800-million tons, while also extending the Ergo tailings facility on the East Rand, so it has really boosted our confidence to go and execute all that to enable us to continue mining for a very long time.
    "Even while we're constructing, we're generating cash, and what a buoyant current gold price environment to be part of. Hopefully we can make the most of it," Davel enthused, while also expressing great elation about DRDGOLD's own remarkable journey all the way from 25 April 1895 - as well as that of the JSE.
    "It's really special" - and even more special is that DRDGOLD, with a market capitalisation of R27-billion, is still going flat out on a JSE that has a market capitalisation two-and-a-half times the GDP of South Africa.
    Mining Weekly: What can this gold price now open up for South Africa as a whole?
    Davel: It definitely creates many opportunities for gold mining firstly, but also for mining as a whole. We're in a different world globally, with many different factors than a year ago, so it's time for us to again work together, to look at opportunities, and I really hope that government sees that we want to make a difference with them. We want to create jobs. We want to better communities' lives. That, for me, always should fit right into government objectives. The opportunities are there. It's for us to pull together. Obviously, there'll be price corrections along the way, but I believe the gold environment is buoyant for the medium term and hopefully even for the long term, as well.
    EXTENDING OPERATIONAL LIFE
    Roodepoort-heaquartered DRDGOLD, which is now executing a R10-billion capital investment programme, has just come off a R3-billion outlay in a large solar energy project on Gauteng's East Rand, where its flagship Ergo gold-from-tailings projects is entering a new growth phase.
    "That's exciting for Ergo from a cos...
    5 min
  • AngloGold agrees sale of Côte d’Ivoire projects, acquisition of Guinea project
    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 New York- and Johannesburg-listed AngloGold Ashanti has agreed to sell its interests in two gold projects in Côte d'Ivoire and simultaneously acquire a project in Guinea, alongside its Siguiri operations.
    The agreement involves the sale of Centamin West Africa Holdings to mining company Resolute, from which it will acquire Toro Gold Guinée Sarlu, which owns the titles to the Mansala project in Guinea.
    Centamin owns Côte d'Ivoire's Doropo and Archean-Birimian Contact and AngloGold acquired an indirect interest in these two projects when it acquired Centamin in November.
    "This transaction ensures we maintain our focus on disciplined capital allocation and driving efficiencies from our existing portfolio," AngloGold Ashanti CEO Alberto Calderon stated in a release to Mining Weekly.
    "It also ensures these projects are in good hands, to benefit all stakeholders," Calderon added.
    Mansala is anticipated to be developed as a brownfields project to provide an additional ore source to AngloGold Ashanti's Siguiri operations and conditions that include the renewal of the Toro Gold Guinée Sarlu permits and Guinea government approval must be satisfied within 18 months from the completion of the sale.
    The $175-million Doropo selling price is made up of $150-million cash plus either Mansala or another $25-million, should the 18-month acquisition time lapse.
    Regarding Archean-Birimian Contact, $10-million cash must be paid on declaration of a compliant million-ounce mineral reserve on current tenements, and a 2% net smelter gold production royalty.
    Doropo's seven exploration permits cover 1 850 km2 in northeast Côte d'Ivoire, 480 km north of Abidjan. Eleven of its 13 main resource cluster gold deposits covered by the licence are concentrated within a 7 km radius.
    With pre-feasibility and definitive feasibility studies competed, Doropo was awarded an environmental permit in June 2024 and its mining licence application is pending. It has a measured and indicated mineral resource of 0.9-million ounces of gold at an average grade of 1.02 g/t. Its inferred mineral resource is 0.3-million ounces at 1.23 g/t and a proven and probable mineral reserve of 1.9-million ounces at 1.53 g/t.
    Once developed, Doropo is expected to have average gold production of 167 000 oz/y over a ten-year mine life.
    The Archean-Birimian Contact greenfield project, which covers 1 148 km2 460 km west of Doropo, has a 1.6-million ounce inferred mineral resource at an average grade of 0.98 g/t.
    Africa-focused Resolute owns Syama gold mine in Mali and Mako gold mine in Senegal.
    3 min
  • Gold price sustaining opportunity to mine for longer, says DRDGOLD chairperson
    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 current gold price is improving margins, sustaining the opportunity for existing miners to mine for longer, and probably creating new opportunities.
    That is the view of DRDGOLD chairperson Tim Cumming, who spoke to Mining Weekly on the sidelines of the 130th anniversary of the listing of DRDGOLD on the Johannesburg Stock Exchange (JSE) in 1895.
    Also speaking to Mining Weekly on the sidelines of the upbeat JSE event was Nedbank CIB markets research head Arnold van Graan, who expressed the view to that thst gold price will result in increased investment - but that it will likely take time to materialise as companies look at which orebodies are exploitable and which projects now make economic sense.
    Overall, there is an expectation that current global uncertainty, worsened by the large volume of dollars in circulation far outstripping the volume of available gold, will keep the gold price stronger for considerably longer.
    "We're in a phase of a large R10-billion capital investment, extending our capacity out on the Far West, as well as also extending the capacity on the East Rand.
    "We do have a financial facility, but we've been saying, well, do we need it because these gold prices are giving us more of a capacity to do all of that and continue to pay our dividends.
    "A high gold price creates more opportunities. The problem is we don't know how long it will last or how high it will go but as long as the sun shines, let's make hay, so to speak. We understand the reasons why the gold price is as high as it is. But maybe all the policy issues coming out of the United States, which have caused that uncertainty, maybe they'll dial that back, maybe Trump sort of let's off and people say, okay.
    "But I'm not so sure, because the one thing with Trump, you just never know what he's going to say next. So, we'll live with continued uncertainty for a long while, and that's generally good for the gold price, and this gold price improves the margins, so it sustains, for existing miners, the opportunity to mine for longer, and it probably creates new opportunities," Cumming added.
    The World Gold Council's latest report on gold demand trends for the first quarter calculates that total gold demand increased by 1% year-on-year to 1 206 t - the highest for a first quarter since 2016.
    Many are also pointing out that the amount of gold in proportion to the amount of issued fiat currency is now far healthier from a gold perspective than from a fiat currency perspective, which could mean that even if the world moves out of this period of uncertainty, the huge volume of dollars that have been printed relative to the amount of gold remains too high. Against that background, gold is said to have re-based to a point where it will remain stronger for much longer and continue to boost gold mining.
    Van Graan's view is that South Africa will see increased gold-mining investment as a natural response to the current gold price.
    "You'll see higher capital being deployed into some of these orebodies. It might not be as quick as you would expect, because there's a process to be followed, but, undoubtedly, we'll see increased investment and ultimately, a bit of higher production coming out of this."
    Mining Weekly: Do you agree that ongoing uncertainty will likely keep the gold price up for some time yet?
    Van Graan: It's very hard to call the gold price at these levels, because it's broken away from all the fundamentals that we used to track, so it's a tough call. But I think the general outlook is that gold will remain at elevated levels for longer. What that level is, I don't know, but I think we're going to be in this prosperous environment for some time.
    Should South Africa take its gold mines to considerably deeper levels at these gold pri...
    5 min
  • Glencore produces 5% more South African energy coal in first quarter
    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 energy coal produced by Glencore in South Africa in the first three months of this year was up on the first quarter of last year, the London- and Johannesburg-listed mining and marketing company reported on Wednesday.
    This year's 5% higher 4.2-million tonnes was put down to improved fleet performance plus the start of additional stockpile reclamation activities.
    Glencore's overall first-quarter energy coal production of 23.4-million tonnes was 7% lower, however, reflecting the scheduled closure of two mines in Australia.
    Also down 7% was Glencore's attributable South African ferrochrome production of 277 000 t, which follows persistent pressure on smelting conversion margins. Amid the ongoing review of smelting sustainability, the energy-efficient Lion smelter in Mpumalanga will continue to operate, while the Boshoek smelter in North West will be indefinitely suspended from May and the Wonderkop smelter, also in the North West, will follow suit from June, pending any recovery in the ferrochrome market.
    Except for a 5% energy coal volume reduction at Cerrejón, Colombia, in support of market rebalancing, all-inclusive full year 2025 production guidance remains unchanged.
    Own-sourced first-quarter copper production was a 30%-lower 167 900 t and own-sourced cobalt production a 44%-higher 9 500 t.
    "While copper had a slow start to the year, the first quarter is expected to be the lowest quarter, and a significantly stronger performance is anticipated over the remainder of 2025," Glencore CEO Gary Nagle stated in a media release to Mining Weekly.
    In Chile, the Collahuasi copper operation is expected to deliver on guidance, following the completion of the planned reorientation of the pit, along with additional trucks and improved water availability.
    In Peru, the planned initially higher strip ratio at the Antapaccay copper operation is forecast to reduce progressively through the year, uplifting second-half volumes.
    In the Democratic Republic of Congo, the transition at Kamoto Copper Company of plant feed from predominately ore stocks to run-of-mine feed, is expected to increase throughput rates and production over the balance of 2025.
    "In coal, both steelmaking and energy coal volumes are tracking well," said Nagle, while pointing out that the Elk Valley Resources steelmaking coal operations in Canada posted a strong 6.6-million tonnes, while energy coal production volumes were modestly lower year-over-year, accounting for the closures of Glendell and Integra. Total steelmaking coal production was 8.3-million tonnes.
    First quarter zinc volumes were a 4%-higher 213 600 t, aided by stronger contributions from Antamina in Peru and Australian assets.
    Marketing's lower first-quarter is not expected to affect full-year earnings guidance range, which is set to come in at around the middle of the long-term $2.2-billion to $3.2-billion a year guidance range.
    Nagle pointed out that since quarter-end, financial markets, including commodities, have been highly volatile and unpredictable, responding rapidly to US tariff news flow and uncertainty.
    "In such an unpredictable environment, risk management has been a primary focus, noting the many complex supply chains we are exposed to, including the US, China, Europe and Canada.
    "Despite the 'noise', primary commodity trade routes to date have not been meaningfully disrupted. However, owing to the various proposed and currently being implemented tariffs across commodity supply chains, it is likely that some physical trade flow re-orientation and dislocation will manifest over the coming months, which may present opportunities for our Marketing business," Nagle added
    Glencore, which employs 150 000-plus people in 30-plus countries, produces and markets more than 60 commodities.
    4 min
  • Premature gold mine closure can no longer be allowed, says 130-year-old DRDGOLD
    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.
    With the gold price expected to be stronger for longer, hopes are high that South Africa's five main remaining gold mining companies will maximise gold production and avoid repeating the gold sector's big past mistake of closing operations too soon.
    "We simply can no longer allow gold mines to close prematurely because so much value gets lost," is the view of DRDGOLD CEO Niël Pretorius, who was speaking to Mining Weekly on the sidelines of the 130th anniversary of the listing of the resilient DRDGOLD on the Johannesburg Stock Exchange (JSE). (Also watch attached Creamer Media video.)
    Since its listing on the JSE on the 25 April in 1895, DRDGOLD has lived through major adversities that include two Anglo Boer Wars, two World Wars, two far-reaching pandemics, the 1922 Strike, the Great Depression, and a considerable list of other major global and domestic difficulties and downs.
    "So many gold mines closed prematurely. Hopefully we'll see the South African gold companies that are still involved make sure that at least this generation fully optimises the potential of gold orebodies," noted Pretorius, who is hoping that the gold price windfall and fundamentals that point to the gold price being stronger for longer result in mine recapitalisation that further extends current gold operations.
    DRDGOLD itself has a R10-billion Vision 2028 capital expansion programme at Far West Rand Gold Recoveries on the West Rand and at its reinvented Ergo gold mainstay on the East Rand, where it is systematically implementing 40 community self-empowerment initiatives that range from how to bring a healthy baby into this world and making sure that children are school ready to improving the quality of life for the elderly.
    While the large Far West regional tailings storage facility (RTSF) will be able to process between 1.8-million and 2.4-million tons of gold-bearing tailings a month once it is up-and-running, steps are being taken to recommission the Withok tailings storage facility on the East Rand, amid the current gold price being sufficiently high to render viable retreating the Crown dumps, near Nasrec, west of Johannesburg.
    At the current gold price, Crown's viability threshold has been breached, so those gold-bearing tailings could find their way through the reprocessing circuit as well, Pretorius pointed out. Interestingly, once Crown's dams have been removed, more than 500 ha of prime DRDGOLD-owned land will be cleared for potential near-city-centre redevelopment.
    Mining Weekly: What do you see as the highlight of DRDGOLD's 130 years?
    Pretorius: The highlight for me is that we're not just still around, but that we're probably as stable as ever. The work that the team's done over the last few years involves setting up a second project, capitalising both projects to extend life-of-mine, setting up the business in such a way that it can survive through the lean times, which it has done several times, but then also taking advantage of the good times. In this period of exceptionally high gold price, it's wonderful to be around. Fifteen years ago, when we started moving away from deep-level underground mining and focusing on surface retreatment, there were ten relatively small gold mining companies in South Africa, and I don't think there was a lot of confidence in the future of DRDGOLD, but the team pulled through.
    They built on the legacy, not giving up, which carried Durban Roodepoort Deep through so many different phases. Durban Roodepoort Deep was hardly established and there was an armed conflict in South Africa with the first Anglo Boer War, and then there was the second Anglo Boer War. Then there was the Rebellion and the First World War. There was the big 'Flu pandemic of 1918-1919, the 1922 Strike, the Great Depressio...
    10 min
  • DRDGOLD stronger than ever as it hits 130-year mark at time of sky-high gold pricing
    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.
    Friday, April 25, marked the remarkable 130th anniversary of the uninterrupted listing on the Johannesburg Stock Exchange of South Africa's resilient gold producer, DRDGOLD.
    Born out of the gold rush in 1895, 130 years later, DRDGOLD has an impressive market capitalisation of more than R27-billion.
    In March, the company declared its eighteenth consecutive financial year of dividend payout while self-funding its Ergo Two and Far West Gold Recoveries projects.
    In addition, Ergo Two's vital new thrust is the cost-cutting 60 MW solar power plant at the tailings reprocessing plant, plus the commissioning of a 160 MWh battery energy storage system.
    DRDGOLD has transitioned well from underground mining to becoming the global on-surface leader in recovering gold recovery from waste dumps in a property value-adding manner that restores the environment so credibly that original game has returned to one of the restored sites of their own volition.
    "We hold deep appreciation for organisations like DRDGOLD," an upbeat Johannesburg Stock Exchange CEO Liela Fourie highlighted at the stock market celebration covered by Mining Weekly. (Also watch attached Creamer Media video.)
    As a stock exchange that has long championed sustainability and which is dedicated to being a hive of innovation for financial markets on the African continent, Fourie described DRDGOLD as being a commendable example for broader industry in carving out a sustainable future for South Africa amid the Johannesburg Stock Exchange itself continuing to fortify its position as a capital-raising venue and global investment destination of choice.
    "We'll continuously work with you and the broader ecosystem to grow the South African economy," Fourie promised.
    Looking forward, DRDGOLD CEO Niël Pretorius expressed the hope that in 20 years' time, the solid foundations being laid by the company now would underpin the 150th anniversary of the listing of the company "in hopefully this very same Johannesburg Stock Exchange venue".
    "A lot of capital is being spent to extend the life of Ergo, extend and fully optimise the life of Far West Gold Recoveries. It's wonderful to be part of that and it's wonderful to see the older generation, that have laid the initial foundation, and the new generation of leadership coming through the ranks, who will take this forward, and hopefully some of you will be here in 20 years from now, to celebrate the 150th anniversary of DRDGOLD. Let's look forward to that next 20 years of developing the full potential of this wonderful company and this wonderful orebody," Pretorius added.
    DRDGOLD CFO Riaan Daval spoke of the DRDGOLD story being intertwined with the story of Egoli, 'the place of gold', Johannesburg, as well as "the Johannesburg Stock Exchange, where we are today being very much the stock exchange established to facilitate trading during the first South African gold rush".
    "Our company now has a very different business model. Yes, still in gold, and, wow, what a time to be involved with gold, but with a different purpose. Over 130 years, waste was created through the processes of mining gold but not deposited in the best of places.
    "As the city of Johannesburg expanded, these yellow mountains lay scattered in between where people live and work, and represents the scar tissue of a much smaller industry now, but in its place a bustling city represented by many other industries and sectors, also on the Johannesburg Stock Exchange.
    "Our purpose is to roll back this environmental legacy of mining by reprocessing this waste and producing gold. We have a vision of mining all the gold waste material still left on the East Rand and on the West Rand of Johannesburg, and depositing on modern facilities, away from where people live.
    "We plan t...
    5 min
  • Anglo American Platinum’s first-quarter ruthenium price up 36%
    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.
    In the first three months of this year, Anglo American Platinum achieved a 36% higher price for its ruthenium, a relatively low-profile platinum group metal (PGM), which was placed on a new high pedestal at last month's PGM Industry Day.
    The rare silvery-white hard transition metal, which is one of the half-dozen platinum, palladium, rhodium, iridium and osmium PGM affiliates, is battling to continue to keep its light under a bushel as its use in hydrogen's transportation in particular begins to shine out.
    While ruthenium is not consuming a lot of ounces now and forms a tiny part of the three-million to 3.4-million PGM ounces Anglo Platinum is guiding for the 12 months of 2025, the upbeat authors of a global white paper on the ammonia economy and ruthenium's high ammonia cracking conversion efficiency, believe Ru will eventually come through in not only hydrogen, but also green chemistry and electronics.
    Given far more prominence in the latest report of the primary Johannesburg Stock Exchange-listed company, which is on its way to becoming the demerged Valterra Platinum with a secondary listing on the London Stock Exchange (LSE), was the word "flooding".
    Owing to the impact of heavy rains, which caused widespread flooding in the region, first-quarter PGM production at Amandelbult declined by 32% to 85 800 oz.
    The significant rainfall and overflow of nearby river systems caused water ingress at Tumela mine, which overwhelmed pumping capacity, flooding certain parts of the underground and main pump station.
    All operations at Amandelbult have since restarted, except for Tumela Lower, where de-watering activities were completed in mid-April and work has now shifted to infrastructure repairs, and mining operations are expected to commence from mid-year and fully ramp up in the third quarter. The process to finalise the insurance claim for the damage incurred is also well advanced.
    Although total PGM production decreased by 17% against the prior period to 696 300 oz, on a like-for-like basis, to account for factors including the Amandelbult flooding, total PGM production decreased by 5%.
    At the flagship Mogalakwena mine production was 21% lower compared with the fourth quarter of 2024 owing to heavy rainfall.
    Mogalakwena's four-element built-up head grade of 2.48 g/t was in line with expectations for the first quarter and the full-year blended grade remains on track to meet the 2.7 g/t to 2.9 g/t guidance.
    Four Jameson cells were commissioned at Mogalakwena's North Concentrator during the quarter as part of the mass pull and recovery optimisation strategy.
    Once fully operational, this strategy is expected to produce a higher-grade concentrate enabling reduced concentrate volumes and smelting requirements while improving energy efficiency and reducing emissions.
    Mototolo's production increased by 7% to 66 200 oz, reflecting the benefits of the new seven-day mining shift cycle, implemented in the second quarter of 2024. The development of the Der Brochen project, which will replace infrastructure closures at Lebowa is progressing as planned, with production anticipated to ramp up in late 2025.
    In Zimbabwe, Unki's production decreased by 15% to 53 600 PGM ounces mainly because of the expected lower grades in the current mining area, as well as a combination of slightly lower recoveries and the impact of a five-day planned plant maintenance shutdown which impacted volumes milled. In the prior period, this maintenance was performed in the second quarter of 2024.
    At the half-owned Modikwa mine, PGM production decreased by 11% to 29 400 oz primarily owing to lower concentrator plant recovery following the introduction of opencast material during the quarter. The opencast material, planned to be fully ramped up from the ...
    6 min

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