Page 23 - Mining Weekly News Today

With a view to reducing its carbon footprint as well as addressing the uncertainty of the supply and cost of electricity, surface gold mining company DRDGold has taken a decision to construct a solar power plant and a power storage facility at Ergo, the gold from mine waste operation on the East Rand The board of the Johannesburg- and New York-listed company has approved the capital expenditure for the first phase, involving the upgrade of the existing supply line to the Brakpan/Withok tail...

Johannesburg has a unique history. If not for mining, there would be no city. The mines, however, did not come to the city, rather the city came to the mines. What resulted was poorly regulated urbanisation and hundreds of thousands of people living in close proximity to former mining infrastructure and mine dumps. (Also watch attached Creamer Media video.)

Gold and copper mining company Barrick has a detailed emission reduction roadmap in place that allows it to be unequivocal about the extent to which it will mitigate against climate change going forward. “We are absolutely clear that we will reduce our greenhouse gas emissions by 30% by 2030 and what makes it different for Barrick is that each one of these projects meet our 15% IRR hurdle at $1 200/oz gold,” Barrick CE Dr Mark Bristow spelt out to Mining Weekly unambiguously in ...

The National Development and Reform Commission "NDRC" asked major coal miners to reduce prices last week, after coal futures surged to their highest level in months

2021 was a terrific year for the company, Glencore CEO Gary Nagle said on Tuesday, when he reported record earnings before interest tax depreciation and amortisation (Ebitda) of $21.3-billion, a record marketing performance Ebit of $3.7-bilion, and a record industrial business performance of $17.1-billion Ebitda. As a result, net debt of $6-billion is now significantly below the London- and Johannesburg-listed company’s cap of $10-billion, which opened the way for a $4-billion distribution...

Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4 000-plus mining and prospecting rights backlog could be eliminated, and R60-billion worth of renewable energy projects could release 3 900 MW into the energy space if inhibiting bureaucracy were remo...

Demand already foreseen is providing South Africa with the far-reaching and very welcome opportunity to create sufficient new jobs – “and then some” – to ensure a just energy transition away from the country’s current climate-threatening carbon intensity, Mining Weekly can report. South Africa’s R100-billion-plus renewables industry has already been able to recruit highly skilled people from all sectors of South Africa, including from the coal sector, and the ...

Directors face potential liability if they fail to carry out their fiduciary duties to curb climate change risks and do not make complete disclosures about climate-related risks, Webber Wentzel partner Merlita Kennedy and associate Tobia Serongoane stated on Tuesday. In a release to Mining Weekly, the law firm outlined how climate change, economic inequality, and numerous other issues fundamental to the success and sustainability of companies, are placing greater responsibility on boards of dire...

An organisation which is providing un-electrified informal settlements with clean, green solar power in the Western Cape – in Ubuntu-hearted fashion – has begun to investigate just energy transition opportunities in Mpumalanga, where South Africa’s coal-mining and coal-fired power is facing eventual phase-out. The organisation, GreenCape, assists businesses, academia and government to overcome investment and job creation challenges in the green economy space, along with its Alt...

In terms of high-level outcomes, the vision of South Africa’s Hydrogen Society Roadmap is to create an inclusive, sustainable and competitive hydrogen economy to support net-zero carbon economic growth and societal well-being, Department of Science and Innovation (DSI) chief director hydrogen and energy Dr Rebecca Maserumule said on Wednesday. In an address to the North West Provincial Mining and Energy Investment Conference, Maserumule outlined the roles being played by several government...