With a focus on research, development and innovation (RDI), the Mandela Mining Precinct (MMP) is implementing a new strategy for the next five years, with a focus on the future of the South African mining sector. Speaking at the 2024 Mining Technology and Innovation Showcase, on November 18, MMP executive director Julie Courtnage noted that the new strategy, which was approved on October 30, reflected a shift in thinking for the public-private partnership.

The issues of electricity affordability and Eskom’s inefficiencies emerged as recurring themes as the National Energy Regulator of South Africa (Nersa) kicked off nationwide public hearings in Cape Town on Monday into the utility’s latest revenue application. Through its sixth multiyear price determination (MYPD6) submission, Eskom is requesting an increase in its allowable revenue to R446-billion in 2025/26, R495-billion in 2026/27 and R536-billion in 2027/28.

Russian State-funded private military company (PMC) Wagner Group is one of the greatest beneficiaries of illicit gold trading, a new report published by the World Gold Council (WGC) shows. According to the report, penned by former UK Deputy Prime Minister Dominic Raab, estimates suggest the PMC earned more than $2.5-billion from illicit gold mining since the invasion of Ukraine alone, which has been funnelled back into the Russian war machine.

Gold miner Newmont has reached an agreement to sell its Musselwhite mine to TSX-listed Orla Mining for up to $850-million. The transaction, announced on Monday, marks the first sale of several Canadian assets that the US-based gold miner has identified for divestment. Other Canadian assets still on the market include the Éléonore and Porcupine mines, as well as the Coffee project, while the CC&V mine in the US is also up for sale.

Nickel miner Prony Resources New Caledonia has brought its staff back onsite as it prepares to restart output after a six-month suspension triggered by riots in the French territory. The company, which operates the Goro mine and a plant producing battery-grade nickel, returned workers to facilities on Monday, a spokesperson said. It’s now in a position to prepare to resume activities, the spokesperson said.

Multinational miner Sibanye-Stillwater’s South African operations received six industry health and safety awards at the Southern African Institute of Mining and Metallurgy (SAIMM) MineSafe 2024 conference this month. The awards recognise safety achievements by the group’s platinum group metals (PGM) and gold operations during the year.

President Cyril Ramaphosa described the Stilfontein mine as a “crime scene”, on Monday, as he called for a peaceful resolution to the standoff at the disused mine shaft, where illegal miners are holed up. The South African Police Service and government departments have been trying, for over a month, to surface the illegal miners from the abandoned North West gold mine. While more than 1 000 miners have since surfaced and been arrested, it is believed that there are still hundreds of illegal miners in the shaft. Police had closed off the mine’s entrances and stopped supplies of water and food to the miners. However, the Pretoria High Court has since ruled that the shaft be unblocked by police to allow for food and water to reach the miners. One body has been retrieved from the mine. Ramaphosa said this operation formed part of government’s nationwide Operation Vala Umgodi crackdown to curb illegal mining activities in the country, which he said cost the economy billions in lost export income, royalties and taxes. “We need to be clear that the activities of these miners are illegal. They pose a risk to our economy, communities and personal safety. The Stilfontein mine is a crime scene where the offence of illegal mining is being committed. It is standard police practice everywhere to secure a crime scene and to block off escape routes that enable criminals to evade arrest. In doing so, the police must take great care to ensure that lives are not put at risk and that the rights of all people are respected,” he said. Miners who surface from the mine shaft are medically assessed and detained if found to be in good health. Others are transported to the hospital under police guard.

Market research firm BMI, a Fitch Solutions company, has maintained its 2025 iron-ore price forecast at an average of $100/t, expecting continued downward pressure owing to weak demand stemming from a subdued outlook for mainland China amid its sluggish property sector. In a market commentary published on November 18, BMI notes that iron-ore (62% iron content) prices at Qingdao port are currently hovering below $100/t at about $95.7/t as of November 8, with the year-to-date average in 2024 thus far being $105/t.

ASX-listed Bannerman Energy has appointed Bruce McFadzean as a nonexecutive director, effective November 18. McFadzean is a mining engineer with over 40 years of mining and process experience across a range of commodities and geographies.

Sweden’s Boliden is closing in on a deal to buy Lundin Mining’s two European mines, according to people familiar with the situation. The two companies are in advanced talks over the assets, said the people, who asked not to be identified discussing private information.