May 17, 2020

Lack of long-term strategic leadership to blame for mining job losses in Africa

African mining
gold mining
Nafcoc
National African Federa
Dale Benton
1 min
Lack of long-term strategic leadership to blame for mining job losses in Africa
A lack of long-term strategic leadership is to blame for the rising number of job losses in the mining industry, according to the National African Feder...

A lack of long-term strategic leadership is to blame for the rising number of job losses in the mining industry, according to the National African Federated Chamber of Commerce and Industry (Nafcoc).

In a statement released on Monday, Nafcoc chief economist Landiwe Mahlangu said that job losses could be blamed on fluctuating commodity prices, investors and other stakeholders are being influenced by a lack of long term vision on the part of industry leaders.

The challenges faced by the mining industry call for a more holistic approach which will deliver sustainable solutions and a lasting effect,” Mahlangu said.

“As Nafcoc we believe that mineral beneficiation and other value adding downstream processing must be accelerated and expanded.”

Mahlangu also called for a more careful approach in tackling the problems affecting job losses to examine why some mines are closing while others are prospering.

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May 14, 2021

Copper production from top ten companies to increase by 3.8%

Copper
Codelco
First Quantum
Freeport-McMoRan
2 min
Following a marginal slump in copper production due to COVID-19, output from top ten companies set to rise up to 3.8% in 2021 reveals GlobalData analysis

Copper production from the world’s top companies is set to increase by up to 3.8% this year, following a fall of 0.2% in 2020, GlobalData analysis reveals. Last year’s marginal slump saw production drop to 11.76 million tonnes (Mt).

Copper

The initial impact of the COVID-19 pandemic on mining operations was immense, however, six of the ten largest copper producers succeeded in increasing output last year. In 2021, copper production from the top ten copper companies is expected to bounce back, rising by up to 3.8%, to reach 12.2Mt, according to GlobalData, a leading data and analytics company. 

First Quantum

The highest increase in copper production 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 maintenance between April and August 2020, it delivered record production levels during the subsequent months.

Copper

Codelco

Codelco, the world’s largest producer of the red metal used in electric vehicles, also bucked the trend.

Vinneth Bajaj, Associate Project Manager at GlobalData, commented: “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 employees, while also avoiding any significant impact to its copper output.” 

Freeport McMoRan

Although the overall impact was minimal, 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.

Electric Vehicles

The move towards electric vehicles and clean energy from renewables sources such as solar panels and wind turbines has driven the copper price to all-time highs. Copper has been among the best performers over the last month where metals ranging from aluminum to iron ore have surged to their highest prices in years. The rally is being fueled by stimulus measures, near-zero interest rates and signs that economies are recovering from the global pandemic. 

 

 

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