Modern Mining May 2021

MINING News

Production from the world’s top 10 cop- per mining companies decreased in 2020, albeit by a marginal 0,2% to 11,76-mil- lion tonnes (Mt). The initial impact of the COVID-19 pandemic on mining operations was immense, however, six of the 10 largest producers succeeded in increasing output in the year. In 2021, copper production from the top ten copper companies is expected to bounce back, rising by up to 3,8%, to reach 12,2 Mt, according to GlobalData, a leading data and analytics company. Copper production from top 10 companies to increase by up to 3,8% The highest increase in copper produc- tion was by Canada’s First Quantum, which, despite all the challenges, reported 10,4% growth in 2020. The company’s Sentinel mine in Zambia and Cobre Panama were key contributors to this growth. While the latter remained under care and mainte- nance between April and August 2020, it delivered record production levels during the subsequent months. Vinneth Bajaj, associate project man- ager at GlobalData, comments: “Despite Codelco reporting over 3 400 active cases during July 2020, the company achieved 1,2% growth in its production in 2020. The company implemented a four-phase plan, as part of the COVID-19 measures, to ensure the health and safety of its employ- ees, while also avoiding any significant impact to its copper output.”

Although the overall impact was mini- mal, declines in production were observed from Glencore (8,2%), Antofagasta (4,7%), BHP (3,9%) and Freeport McMoRan (1,3%). Reduced operational workforces due to COVID-19 measures, lower ore grades and production halts due to maintenance were the key disruptors to output during 2020. Vinneth adds: “Robust growth is expected from Freeport McMoRan, which provided 1 723,6 kt of copper guidance for 2021, 18,5% higher versus 2020 out- put, backed by the commencement of its recently expanded Grassberg mine in Indonesia. Additionally, around 9,1% growth is expected from First Quantum and 5,3% higher copper cathode output is expected from Jiangxi. The growth will also be sup- ported by production from other operating mines such as Escondida, Collahuasi, El Teniente, Cerro Verde, Buenavista and Antamina.” 

In 2021, copper production from the top ten copper companies is expected to bounce back, rising by up to 3,8%, to reach 12,2 Mt.

Stuart Gale takes the reins at Resolute Mining

Resolute Mining Limited (ASX/LSE: RSG) has appointed Stuart Gale as MD & CEO of the company, effective May 14. Since joining Resolute in January 2020 as chief financial officer, Gale has led the finance function, driven the focus on operational performance and, from 20 October 2020, held the role of interim CEO. As interim CEO, Gale has implemented and overseen several key initiatives which include a comprehensive review of opera- tions, the recently published Syama life of mine update, key management appoint- ments and further strengthened internal systems while continuing to be responsible for Resolute’s finance function. “It gives me great pleasure to con- firm Stuart’s appointment as MD & CEO of Resolute. Over the past six months the board retained a leading global search advi- sor who undertook a comprehensive CEO candidate search process. Throughout this period, Stuart has provided excellent lead-

ership as interim CEO, and clearly proven himself as the leading candidate for the role. Achieving this while retaining his CFO duties is also testament to his profession- alism and capability,” says Martin Botha, chairman of Resolute. “The board is delighted with these appointments, reinforcing the operational, technical and capital markets focus which we believe will unlock the significant value within our African portfolio, and position Resolute for future success,” adds Botha. Incoming CEO, Stuart Gale, says: “It’s an honour to be appointed to lead Resolute and I look forward to working with the board and all of our employees to take the company forward. I am confident that we have the right team with the right culture to capitalise on our foundation and maintain focus on our operations, people, systems and process. Delivery on our targets while strengthening the balance sheet is key and this will posi- tion us to grow shareholder value.” 

Stuart Gale, new MD & CEO of Resolute Mining.

8  MODERN MINING  May 2021