Modern Mining August 2024

Minerals council South Africa office bearers for 2024/2025 The Minerals Council Board elected new Office Bearers for 2024/2025 at its 134th Annual General Meeting. Dr Nombasa Tsengwa, CEO of Exxaro Resources, has been elected as President of the Minerals Council. Nolitha Fakude, Chair of Anglo American South Africa and the first woman president of the Minerals Council, has stepped down after three years in the role. Mpumi Zikalala, CEO of Kumba Iron Ore and Richard Stewart, Chief Regional Officer of Sibanye-Stillwater, have been elected as Vice Presidents. Paul Dunne, CEO of Northam Platinum, and Themba Mkhwanazi, Anglo American Africa and Australia Regional Director, were re-elected as Vice Presidents. The Minerals Council Office Bearers perform a critical role in leading and representing the South African mining industry on behalf of the Board and its members. 

Nolitha Fakude, the first woman president of the Minerals Council, has stepped down.

Miners need to invest for growth and transformation a mid financial pressure - PwC

Andrada Mining CEO, Anthony Viljoen.

Andrada Mining proposed restructuring

The global mining industry faced a challenge in 2023 that was at once unprecedented and familiar. The financial performance of the world’s Top 40 mining companies was squeezed by falling commodity prices and rising costs, which resulted in revenues falling more than 7%—this despite increases in the production of key commodities. Twenty-twenty four promises a continuation of these trends, marking the first time since 2016 that industry revenues will fall for a second consecutive year. A mix of cyclical and structural issues now compels leading miners to invest for growth and transformation even as revenues and profit margins come under pressure. Andries Rossouw, PwC Africa Energy, Utilities and Resources Leader, says: “In PwC’s newly launched Mine 2024 report, the 21st global report of its kind, we focus on how the industry is planning for impact by retooling and reimagining itself to be a key contributor to growth. A core component of this means leaning into the vital role it plays in food production, food security, and essentially, how the world feeds itself. It means delving into the potential and challenges of the complementary industry of urban mining—that is recycling. It also means harnessing technology – including the revolutionary implications of AI – to advance productivity, sustainability and safety.” Amid a new and ever-changing landscape, mergers and acquisitions (M&A) remain a crucial strategy for miners that want to maintain their competitive advantage, even while the industry grows in new terrain in response to emerging demand. The percentage of completed mining deals involving the Top 40 that were focused on critical minerals rose to 40% in 2023 from 22% in 2019, underlining this seismic shift driving M&A activity. Copper and lithium dominated such deals, accounting for over 70% of them by volume, up marginally from 2022. 

AIM-listed Andrada Mining, the technology metals producer with assets in Namibia, has taken a decision to restructure its Uis Tin Mining Company (UTMC), the Namibian entity that holds the company’s licences (ML133, ML134 and ML129), to ensure a more efficient corporate structure. The company seeks to increase its ownership interest in UTMC, from 85% to 100% through the acquisition of the 15% interest currently held by the Small Miners of Uis (SMU), a not-for-gain organisation established to support the economic development of Namibians in historical mining areas. Anthony Viljoen, Chief Executive Officer, commented: “We believe that this transaction reflects the strong and collaborative relationship Andrada has built with the SMU over the years. It signifies our mutual growth and development as partners, and the progression of SMU as an organisation. Furthermore, it marks a significant step forward, with the aim to leverage our combined strengths to advance the economic revival of historical mining areas and upliftment of local communities.” 

AUGUST 2024 | www.modernminingmagazine.co.za  MODERN MINING  5