Weekly roundup: Top mining stories, photos and videos
The short answer is yes.
Social media has become the quintessential networking tool for people, businesses and organizations alike. It has the power to connect brands to their consumers, inform audiences on current topics and trends, and engage audiences to interact and discuss opinions. Whether we like it, use it, or just don’t understand it, social media can be useful for everyone—even mining companies.
There are massive benefits to utilizing mining simulators for personnel training. This approach holds immense value for mining companies looking to enhance preparation of miners because it offers a quick and cost-effective way to significantly improve the skills and productivity of equipment operators.
South Africa is one of the top mining regions in the world. Famous for its abundance of profitable mineral resources such as gold, diamonds, coal and platinum, the country is estimated to have the world’s fifth-largest mining sector in terms of GDP value.
A report by Research and Markets forecasts the mining equipment market in the United States to grow at a compound annual growth rate (CAGR) of 8.27 percent over the period 2015-2019.
Press release--Whitehaven Coal’s Narrabri North mine set new production records last year and subsequently ordered a second Cat® EL3000 Longwall Shearer and a second Cat BSLPF6 Stage Loader for delivery in August this year. The mine, located in the Gunnedah Basin of New South Wales, Australia, set a weekly production record of 257,000 tons in June and a new quarterly production record in the final quarter of the year.
Colorado-based Newmont Mining Corporation has signed a non-binding letter of intent to sell its Waihi gold mining operation in New Zealand to Oceana Gold Corporation for $101 million. Terms of the sale also include a $5 million contingent payment as well as a one percent net smelter royalty on a recent discovery north of Waihi’s current operation.
The world’s second largest mining company is getting back in the saddle again.
Rio Tinto indicated at a recent analyst meeting that it is ready to consider mergers and acquisitions again, said a Morgan Stanley report, but only if it can secure the right asset at the correct valuation and win investor support. With the mining sector hovering at the bottom of the cycle, the time could be now for Rio to pull the trigger.
Caterpillar (Langfang) Mining Equipment Co. has announced the completion of its first full armored face conveyor (AFC) system for longwall mining. The achievement is a "milestone in the facility’s evolution as a key mining equipment manufacturing plant for Caterpillar and the region”, which had previously only manufactured line pans for AFC systems.
The New York Times recently published an article examining Europe’s declining coal sector with haunting imagery from French photographer Pierre Gonnord. The portrait-style images tell a story of the harsh physical and mental conditions of coal mining, and the toll it takes on a person.
For the last 142 years, Atlas Copco has built a solid reputation for being a world-class provider of sustainable productivity solutions in the mining, construction and manufacturing industries. The company attributes its success to five strategic pillars: presence, innovation, service, operational excellence and people.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.