Barrick Mining is considering spinning off its African business into a separate London-listed entity, with a potential merger with Endeavour Mining among the options being explored.
The combined entity could be valued at US$30bn.
The decision is part of a deliberate strategic shift under Chief Executive Officer Mark Hill and Chairman John Thornton away from jurisdictions that can be considered politically high risk. Without African interests, Barrick Mining could be seen as a leaner and cleaner North American operation by potential investors.
Petra Diamonds: What Finsch Closure Means for Diamond Market
Petra Diamonds has closed its Finsch mine in South Africa, as the value of smaller diamonds drops globally due to falling China demand and a growing market for lab-produced diamonds.
The company also pointed to Middle East tensions for declining values, as well as a strong rand.
”We are faced with an unprecedentedly weak diamond market, due to global macro factors as well as the recent Middle East tensions,” says Vivek Gadodia, Chief Executive Officer of Petra Diamonds.
How Sandvik’s AutoMine Aura Boosts Productivity 15%
Through its AutoMine platform, Sandvik has spent more than 20 years refining the technology that powers autonomous underground mining operations.
AutoMine Aura features a 3D perception system which is, according to Sandvik, the most advanced and productive in the industry, moving 15% more material than previous versions by reducing equipment downtime caused by underground hazards.
Safety improvements are also central to the platform. AutoMine has logged almost nine million hours without lost time injury (LTI) over two decades. The Aura platform’s improved remote operating system builds on safety principles by reducing human exposure to dust, noise and vibration.
Barrick and First Quantum Back Zambia's Copper Ambitions
Zambia has extended its suspension of the 10% duty on copper concentrate exports, as it works toward its ambitious target to reach three million tonnes of copper production by 2031.
The companies benefiting from the suspension include Canada's Barrick Mining and First Quantum Minerals, as well as Chinese-owned Nkana Mining and Minerals Processing.
The move comes as multiple Western countries race to secure critical mineral supply chains. Canada has mobilised more than US$18.5bn in critical minerals partnerships under its Critical Minerals Production Alliance.
John Crane Sealing Tech: Cutting Water Use in Copper Mining
John Crane has retrofitted a mechanical seal on an underflow thickener slurry pump at an active copper mine. The company claims it cuts clean water needed for sealing by around 288,000 litres a day.
If accurate, the results have promising wider implications for the copper mining industry, which operates in water-scarce areas and is under pressure to reduce its water footprint.
The retrofit also promises to reduce the operational downtime incurred while replacing the pump's shaft sleeve. Replacements were previously performed every four months and each required a full mechanical crew working across 36 hours, as well as a 100-tonne crane.
Executives
John Thornton
Chairman
Mark Hill
Chief Executive Officer
Vivek Gadodia
Chief Executive Officer
