mining
03 April 2025
Mining Technologymining
Apr 03, 2025Mining Technology
Mining services company Capital has signed a material mining services contract with Reko Diq Mining Pakistan, which is operated by Barrick Gold, for the Reko Diq gold and copper mining project in Pakistan.
The contract ensures operations through to December 2028 and includes a five-year extension option. It is expected to generate more than $60m (£45.68m) in annual revenue once fully operational.
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The contract encompasses two primary scopes of work, with the first focusing on early civil works, laying the project’s groundwork before production begins.
Capital will utilise mining equipment formerly deployed at the Belinga iron ore mine, with a full run rate expected from the fourth quarter of 2025 (Q4 2025).
The workforce onboarding is nearly complete and operational training has started.
The contract’s second scope involves the construction and maintenance of the tailings storage facility (TSF).
Capital will utilise the majority of the fleet from the Sukari gold mine, with operations set to start at the beginning of Q4 2025 and full utilisation anticipated in the second half of 2026.
Capital executive chair Jamie Boyton said: “Reko Diq is set to be the next truly major copper operation in the world and so it is exciting for us to be bringing our services to the site at the very beginning of its development, first through drilling and now adding mining services.
“Today highlights the strategy core to Capital of focusing on adding our services at long-term contracts at world class assets. We are also thrilled to be able to redeploy the majority of our mining kit from our previous two mining contracts and continue to drive a return from this investment.”
The contract expands Capital’s service offering at Reko Diq and builds on its record since 2023 and its long-standing relationship with Pakistan since 2008.
The company will continue providing reverse circulation and diamond drilling geotechnical services for the project alongside the new contract scope.
Reko Diq, co-owned by Barrick, federal state-owned enterprises and the Government of Balochistan, is expected to become one of the world’s largest and low-cost copper-gold operations.
The project is expected to rank among the top ten global copper mines by production, with a low C1 cash cost of $0.53/lb based on Barrick’s feasibility study.
Reko Diq has an estimated mine life of approximately 37 years, and additional exploration targets have been identified that may extend the mine life.
According to Barrick Gold CEO Mark Bristow, the mine is projected to generate $74bn (C$104.8bn) in free cash flow over the next 37 years.
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Gold Fields’ $3.7 Billion Gold Road Acquisition Takes EffectGold Road Resources is set to be acquired by its joint venture partner Gold Fields, with a scheme of arrangement having taken legal effect on September 26.
The scheme allows for the South Africa-based Gold Fields to take on 100 per cent of Gold Road shares through its subsidiary Gruyere Holdings. The scheme was approved by the Supreme Court of WA and became legally in effect when those court orders were lodged with the Australian Securities and Investments Commission.
Gold Road shares were suspended from trading shortly after.
Current shareholders will receive a special dividend before the transfer takes place. The Gold Road board has agreed to distribute $0.43 per share to the full share register as it stands at the close of business on September 30.
This special dividend is part of the consideration laid out in the scheme. This will include a total fixed cash component of $2.52 per share, and a further variable cash consideration of $0.98 per share.
This was calculated on September 26 based on the value of Gold Road’s shareholding in Northern Star Resources immediately prior to the scheme taking effect.
Full implementation of the scheme consideration, and transfer of Gold Road shares to Gold Fields, will take place on October 14.
Gold Fields is a 50-50 joint venture partner with Gold Road on the Gruyere gold mine in Western Australia. The acquisition, first proposed in May this year, gives Gold Fields full ownership of the mine, which is expected to produce 325,000 to 355,000 ounces of gold in 2025.
The deal was approved in May by Australia’s Foreign Investment Review Board (FIRB), with the Federal Government clearing Gold Fields to proceed with its $3.7 billion acquisition of Gold Road Resources.
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29 September 20252 min readGold Fields’ $3.7 Billion Gold Road Acquisition Takes Effect
Australian Mining
29 September 2025
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Boldyn Networks And Nokia Power The Future Of Mining At Callio Pyhäjärvi With Private 5G NetworkFormerly a fully operational copper mine for over 60 years, Callio now offers a real-world mining environment where technology companies can test and validate their equipment.
Underground mines pose some of the most extreme challenges for connectivity. Their depth, complex tunnel networks, harsh environmental conditions, and the constant movement of people and machinery make stable communication difficult. Boldyn’s private 5G solution is designed to scale and adapt to the most demanding environments.
Using Nokia’s Modular Private Wireless (MPW), it provides seamless, high-performance connectivity across multiple underground levels and a vast tunnel network that stretches several kilometres and reaches depths of up to 1.5 kilometres. With high bandwidth and ultra-low latency, the network supports advanced mining applications, enabling safer, smarter, and more efficient operations.
Henrik Kiviniemi, Managing Director, Callio Pyhäjärvi said: “At Callio, we’re redefining what’s possible in mining. With the right technology, operations can be fully managed from the surface, making mining not only smarter, but significantly safer.
"Our mission is to transform this unique 1.5 km-deep site into a world-class testbed where the next generation of automation and safety solutions can be developed and validated. In mining, connectivity is critical. Our private 5G network delivers real-time data and ultra-low latency, ensuring every person and asset is visible and protected. Downtime is expensive. Manual processes are risky. With private 5G, we’re solving both.”
Jaakko Kuukka, Country Manager Nordics, Boldyn Networks said: “We have designed and deployed a seamless private 5G network, based on Nokia technology at the Callio site. The network delivers seamless connectivity and full coverage across multiple underground mining levels. It’s the backbone of Callio’s vision for a fully automated test mine, supporting everything from tele-remote vehicles to real-time control of underground machinery.
"We’re enabling mining companies to test and develop next-generation solutions against a reliable network in realistic conditions, without disrupting live operations.”
Next-generation technology is already being tested at the facility, including:
Automation and tele-remote vehicles: The network enables the remote operation of autonomous vehicles and machinery from the surface, reducing the need for personnel to work in hazardous underground conditions.
This shift improves worker safety and increases productivity by minimising downtime and maximising equipment utilisation. It also supports the development and testing of next-generation mining technologies in realistic, controlled environments.
“World-leading mining technology manufacturer Normet is also testing autonomous vehicles at Callio.“The technical challenges of mining are increasing as companies go deeper. The safest and most efficient path forward is removing people from those environments and enabling remote operation. A fully automated future could see 90% of underground workers operating from the surface – but that requires dedicated 5G networks.
Open Wi-Fi and shared networks just don’t work reliably underground. You get latency issues, performance drops - so having a private network built for these processes is a must.” said Normet’s VP of Equipment Offering & New Technology, Mark Ryan
Voice communications: The private 5G network replaces outdated walkie-talkie systems with reliable, always-on mobile connectivity. Workers can now communicate clearly and instantly across all mine levels, even in the most remote areas and from above ground. This significantly improves safety, coordination, and response times in critical situations.
Real-time visualisation and positioning: Powered by private 5G networks, software company Cybercube is testing its integrated 3D mapping, real-time positioning, and operational control. It creates a digital twin of the mine, allowing teams to monitor the location of personnel, vehicles, and equipment in real time. This unified view enhances situational awareness, safety, and operational efficiency – especially in environments where GPS is unavailable. Evacuation alerts can be dispatched, while keeping track of users and providing instant routes to safety zones.
“With our software platform, we can visualise and control everything in real time – from people and vehicles to equipment and sensors. It’s a huge leap in safety and operational awareness. Being able to test this in real conditions on a dedicated network has been transformational in the development of our solution.” said Aki Ruotsalainen, Director and Partner at Cybercube Oy.
“Mining is one of the toughest environments on earth for connectivity, and private 5G is proving to be a game-changer. Together with Boldyn Networks, we are enabling Callio to demonstrate how secure, reliable, and high-performance networks can transform underground operations – making them safer, more sustainable, and more efficient. This deployment underscores Nokia’s leadership in delivering industrial-grade private wireless networks that power the future of critical industries.” said Michael Aspinall, Head of Enterprise Campus Edge sales in Europe at Nokia.
Global Mining Review
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24 September 20254 min readBoldyn Networks And Nokia Power The Future Of Mining At Callio Pyhäjärvi With Private 5G Network
Global Mining Review
24 September 2025
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Seplat Targets Us$3 Billion Investments And Aims To Increase Production…Nigerian independent Seplat Energy Plc targets investments of up to US$3 billion over five years to develop oil and gas assets acquired from ExxonMobil. Seplat finalised the acquisition of these assets, valued at approximately US$1.28 billion, in December 2024. The company now aims to boost its production to 200,000 barrels per day equivalent, representing an approximate 50% increase over five years.
Seplat presented this strategic investment plan to investors on 18th September 2025. This ambitious program follows semiannual results released in March, which detailed a more modest capital expenditure forecast of US$260 million to US$320 million for 2025. This disparity raises questions about Seplat’s capacity to finance such a significant program.
Financial statements reveal Seplat’s net debt stood at US$897.8 million at the end of 2024, decreasing to US$676.3 million by June 30, 2025. The company reported US$419.4 million in cash at the same date. In 2024, Seplat’s operations generated nearly US$384 million in cash flow. These figures suggest Seplat can fund a portion of its projects internally and retains capacity for additional borrowing. However, assembling US$3 billion remains a challenge, necessitating a multi-year disbursement and potentially external financing.
Beyond Seplat, several international oil majors have divested their Nigerian onshore and shallow-water assets in recent years. Notably, Shell completed the sale of its portfolio to Renaissance Africa Energy in 2024. These transactions underscore a gradual transfer of these assets to local operators.
For the Nigerian state, a growing share of export revenues depends on the performance of these domestic companies. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported crude oil losses from theft and metering inaccuracies at approximately 9,600 barrels per day at the end of July 2025, marking their lowest level since 2009.
Seplat’s 2026-2030 strategic plan forecasts drilling between 120 and 150 wells and validating up to three new gas projects.
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23 September 20252 min readSeplat Targets Us$3 Billion Investments And Aims To Increase Production…
Africa Mining Market
23 September 2025
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Seplat Targets Us$3 Billion Investments And Aims To Increase Production By 50%Nigerian independent Seplat Energy Plc targets investments of up to US$3 billion over five years to develop oil and gas assets acquired from ExxonMobil. Seplat finalised the acquisition of these assets, valued at approximately US$1.28 billion, in December 2024. The company now aims to boost its production to 200,000 barrels per day equivalent, representing an approximate 50% increase over five years.
Seplat presented this strategic investment plan to investors on 18th September 2025. This ambitious program follows semiannual results released in March, which detailed a more modest capital expenditure forecast of US$260 million to US$320 million for 2025. This disparity raises questions about Seplat’s capacity to finance such a significant program.
Financial statements reveal Seplat’s net debt stood at US$897.8 million at the end of 2024, decreasing to US$676.3 million by June 30, 2025. The company reported US$419.4 million in cash at the same date. In 2024, Seplat’s operations generated nearly US$384 million in cash flow. These figures suggest Seplat can fund a portion of its projects internally and retains capacity for additional borrowing. However, assembling US$3 billion remains a challenge, necessitating a multi-year disbursement and potentially external financing.
Beyond Seplat, several international oil majors have divested their Nigerian onshore and shallow-water assets in recent years. Notably, Shell completed the sale of its portfolio to Renaissance Africa Energy in 2024. These transactions underscore a gradual transfer of these assets to local operators.
For the Nigerian state, a growing share of export revenues depends on the performance of these domestic companies. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) reported crude oil losses from theft and metering inaccuracies at approximately 9,600 barrels per day at the end of July 2025, marking their lowest level since 2009.
Seplat’s 2026-2030 strategic plan forecasts drilling between 120 and 150 wells and validating up to three new gas projects.
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23 September 20252 min readSeplat Targets Us$3 Billion Investments And Aims To Increase Production By 50%
Africa Mining Market
23 September 2025
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Bhp Injects $1.4 Billion Investment Into Port HedlandBHP has given the green light to its $1.4 billion port debottlenecking project 2 (PDP2) at Port Hedland, marking a major investment aimed at enhancing long-term operational resilience.
The project will see the installation of a sixth car dumper (CD6) along with additional conveyors and supporting infrastructure.
“We have medium-term plans to maintain WAIO’s production of 305 million tonnes per year, and this upgrade of infrastructure and technology allows us to support it,” BHP Western Australian Iron Ore asset president Tim Day said.
“The project is a major step forward to boost our supply chain resilience, unlock capacity and drive productivity across our operations.
“The Pilbara is the engine room of the Australian economy, and this investment will ensure it keeps firing.”
Car dumpers at Port Hedland tip two 135-tonne rail cars at a time, enabling up to 16,000 tonnes of Pilbara iron ore to be unloaded per hour.
The ore is then moved via 5km of conveyor systems to stockpiles or directly to ships. BHP currently operates five car dumpers across its Nelson Point and Finucane Island operations.
Once operational, CD6 will significantly increase car dumper availability, with the port running with at least five car dumpers more than 90 per cent of the time, up from around 60 per cent today.
The project is designed to improve operational reliability, consistency and ore blending and screening capabilities.
Beyond productivity, PDP2 is expected to deliver local economic benefits. Over the three-year construction period, BHP will prioritise awarding contracts to Indigenous and Traditional Owner businesses as well as local Port Hedland suppliers.
Work on the project is scheduled to begin in December 2025, with first ore expected by the fourth quarter of 2027–28 financial year (FY28). PDP2 follows the successful completion of the port debottlenecking project 1 (PDP1), which unlocked enhanced car dumper and ship loader performance.
Last financial year, BHP’s Western Australia Iron Ore set a full-year record production of 290 million tonnes on a 100 per cent basis, alongside record shipments.
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Australian Mining
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12 September 20252 min readBhp Injects $1.4 Billion Investment Into Port Hedland
Australian Mining
12 September 2025
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Egypt’S Elsewedy Electric To Invest Us$2.5 Billion In Algeria’S Energy…Egyptian group Elsewedy Electric and Algeria’s Investment Promotion Agency (AAPI) signed a memorandum of understanding for US$2.5 billion of investments in Algeria.
The agreement, signed on the sidelines of the Intra-African Trade Fair (IATF) in Algiers, covers the creation of an industrial base focused on electrical industries and renewable energy. It also includes technology transfer, know-how sharing, and the development of electrical infrastructure.
“The announced investment plans are valued at US$2.5 billion, five times the company’s current investments in Algeria. They will create a significant number of jobs and help localise new industries,” said Mostafa Awad El Halawani, CEO of Elsewedy Electric Algeria.
Elsewedy Electric already operates a subsidiary in Algeria that manufactures cables and electrical transformers for both the domestic market and exports to countries such as Tunisia, Mauritania, Equatorial Guinea, Italy, and Spain.
The group has 34 production sites in 19 countries across Africa and Asia, including Tanzania, Saudi Arabia, Qatar, Indonesia, and Pakistan. Active in five business segments – wires, cables and accessories; electrical products; engineering and construction; digital solutions; and infrastructure investments – Elsewedy Electric employs more than 19,000 people and reported revenues of US$5.13 billion in 2024.
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09 September 20252 min readEgypt’S Elsewedy Electric To Invest Us$2.5 Billion In Algeria’S Energy…
Africa Mining Market
09 September 2025
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Egypt’S Elsewedy Electric To Invest Us$2.5 Billion In Algeria’S Energy SectorEgyptian group Elsewedy Electric and Algeria’s Investment Promotion Agency (AAPI) signed a memorandum of understanding for US$2.5 billion of investments in Algeria.
The agreement, signed on the sidelines of the Intra-African Trade Fair (IATF) in Algiers, covers the creation of an industrial base focused on electrical industries and renewable energy. It also includes technology transfer, know-how sharing, and the development of electrical infrastructure.
“The announced investment plans are valued at US$2.5 billion, five times the company’s current investments in Algeria. They will create a significant number of jobs and help localise new industries,” said Mostafa Awad El Halawani, CEO of Elsewedy Electric Algeria.
Elsewedy Electric already operates a subsidiary in Algeria that manufactures cables and electrical transformers for both the domestic market and exports to countries such as Tunisia, Mauritania, Equatorial Guinea, Italy, and Spain.
The group has 34 production sites in 19 countries across Africa and Asia, including Tanzania, Saudi Arabia, Qatar, Indonesia, and Pakistan. Active in five business segments – wires, cables and accessories; electrical products; engineering and construction; digital solutions; and infrastructure investments – Elsewedy Electric employs more than 19,000 people and reported revenues of US$5.13 billion in 2024.
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09 September 20252 min readEgypt’S Elsewedy Electric To Invest Us$2.5 Billion In Algeria’S Energy Sector
Africa Mining Market
09 September 2025
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Vale Inaugurates Capanema Mine And Invests R$67 Billion In A New Phase Of Mining In Minas GeraisVale recently inaugurated the Capanema mine in Ouro Preto (MG), during a ceremony attended by Governor Romeu Zema and other authorities. The resumption of operations marks the beginning of a new phase for Vale in the state, with investments totalling R$67 billion through 2030.
The resources will be applied to safer, more innovative, and sustainable production processes, prioritising the reduction in the use of tailings dams, lower carbon emissions, and the expansion of circular mining, supported by new technologies across the company’s five operational complexes in Minas Gerais.
Capanema will operate using natural moisture, without water in mineral processing and without generating tailings, eliminating the need for a dam. The new model also includes five autonomous off-road trucks and circularity solutions, such as the reprocessing of iron ore contained in an old waste pile. The mine will add approximately 15 million tpy to Vale’s iron ore production, contributing to the company’s guidance of 340–360 million tpy in 2026.
Around R$5.2 billion was invested in reactivating the unit, which had been inactive for 22 years, including modernisation of facilities and integration with other mines in the region to optimise processes and reduce environmental impacts. The construction lasted five years, involved around 40 companies and more than 6000 workers at peak activity, with a focus on hiring local labor. The operation employs 800 people.
“Minas Gerais is at the centre of Vale’s transformation. We have a long history of learning, deep cultural evolution, and above all, partnership with the people of Minas. We continue together on this journey, confident in our legacy for the sustainable development of the state. Capanema exemplifies the new phase of mining in Minas Gerais and reinforces our commitment to a more responsible production process, minimally invasive and with technology and innovation applied to better utilise mineral resources and support decarbonisation initiatives,” says Gustavo Pimenta, Vale’s CEO.
Read the article online at: https://www.globalminingreview.com/mining/09092025/vale-inaugurates-capanema-mine-and-invests-r67-billion-in-a-new-phase-of-mining-in-minas-gerais/
Global Mining Review
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09 September 20252 min readVale Inaugurates Capanema Mine And Invests R$67 Billion In A New Phase Of Mining In Minas Gerais
Global Mining Review
09 September 2025
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Mozambique Approves Investment Projects Valued At About Us$5 Billion In…The Mozambican government has approved 115 investment projects valued at about US$5 billion in the first half of 2025, with the potential to create 17,000 jobs. Prime Minister Benvinda Levi announced the figures on 30th August, at the closing of the 60th Maputo International Fair (FACIM).
The largest project is Green Energy Mozambique, a US$3 billion industrial park in Sofala province. The complex is expected to generate 10,000 direct jobs and boost production of key materials including aluminum, steel, cement, batteries, and solar panels.
More than 88% of total investment was directed to Sofala, far ahead of Maputo. Foreign capital accounted for US$3.2 billion, with contributions from investors in 25 countries. The funds mainly target industry, transport, communications, and services. Domestic investment stood at US$144 million.
Levi said the results show the Mozambican economy is rebounding after climate shocks and post-election tensions, with the private sector driving growth. She also highlighted the launch of a US$250 million mutual guarantee fund during the fair to support recovery and expand private sector participation.
These achievements align with the country’s strategy to strengthen investor appeal. In recent years, Mozambique has pursued reforms to attract capital, including the creation of the Investment and Export Promotion Agency (APIEX) and the adoption of a new investment law in 2023. The country now offers tax and customs incentives, along with special economic zones in agriculture, aquaculture, and less-developed regions.
According to UNCTAD, Mozambique ranked fourth in Africa for foreign direct investment inflows in 2024, reaching US$3.55 billion, up from US$2.5 billion in 2023, when it placed sixth.
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01 September 20252 min readMozambique Approves Investment Projects Valued At About Us$5 Billion In…
Africa Mining Market
01 September 2025
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Harmony Gold Reports A 20% Revenue Increase To Us$4.07 Billion In Fy2025Harmony Gold, South Africa’s leading gold producer, announced a 20% increase in revenue to US$4.07 billion for its fiscal year 2025, ending June 2025. This marks a significant rise from the US$3.2 billion reported a year earlier, primarily driven by higher gold prices during the period.
Gold prices have surged approximately 30% since January 2025, mirroring the growth observed in 2024. Harmony Gold benefited from a 27% increase in the average gold price realised from its sales, climbing from US$1,999 per ounce to US$2,620 per ounce over the period. This revenue growth occurred despite a 5% decline in the group’s production, which fell from 1.56 million ounces to 1.47 million ounces year-on-year.
The reported results predominantly reflect gold volumes from its South African mining operations, the historical core of its portfolio, including mines in the Witwatersrand basin such as Moab Khotsong, Kusasalethu, and Doornkop. Harmony Gold also maintains operations in Papua New Guinea with the Hidden Valley mine and produces platinum and uranium as by-products.
With gold currently trading at US$3,398 per ounce, analysts anticipate continued price increases through the end of 2025, with Goldman Sachs forecasting up to US$3,700 per ounce. Harmony Gold projects stable production for the current fiscal year, targeting between 1.4 million and 1.5 million ounces.
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29 August 20252 min readHarmony Gold Reports A 20% Revenue Increase To Us$4.07 Billion In Fy2025
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29 August 2025
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Qatar’S Al Mansour Holdings Signs Us$20 Billion Deal…Qatari private conglomerate Al Mansour Holdings will invest US$20 billion in Mozambique, the presidency announced on 27th August 2025.
The deal will channel funds into energy, agriculture, oil and gas, renewable power, infrastructure, fisheries, livestock, tourism, housing, hospitals and logistics, according to a statement. Mozambique’s five-year development plan for 2025 – 2029 prioritises rural electrification and domestic gas production.
President Daniel Chapo, who took office in January, has also set out plans to revive agro-industry to complement subsistence farming. Roughly 80% of Mozambique’s cultivated land is currently devoted to food for household consumption, according to the U.S. Department of Agriculture.
Al Mansour’s chairman Sheikh Mansour bin Jabor bin Jassim Al Thani said the group aims to support, not compete with, local efforts. “We are not here to compete; we are here to complement. We are not here to take; we are here to build,” he said at the signing ceremony.
The Mozambique deal follows other large-scale investments announced by Al Mansour Holdings this month: a US$12 billion commitment to Botswana on 21st August, and a US$19 billion agreement with Zambia on 18th August. In April, Qatar and Egypt also finalised a US$7.5 billion investment pact.
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28 August 20252 min readQatar’S Al Mansour Holdings Signs Us$20 Billion Deal…
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28 August 2025
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Qatar’S Al Mansour Holdings Signs Us$20 Billion Deal With MozambiqueQatari private conglomerate Al Mansour Holdings will invest US$20 billion in Mozambique, the presidency announced on 27th August 2025.
The deal will channel funds into energy, agriculture, oil and gas, renewable power, infrastructure, fisheries, livestock, tourism, housing, hospitals and logistics, according to a statement. Mozambique’s five-year development plan for 2025 – 2029 prioritises rural electrification and domestic gas production.
President Daniel Chapo, who took office in January, has also set out plans to revive agro-industry to complement subsistence farming. Roughly 80% of Mozambique’s cultivated land is currently devoted to food for household consumption, according to the U.S. Department of Agriculture.
Al Mansour’s chairman Sheikh Mansour bin Jabor bin Jassim Al Thani said the group aims to support, not compete with, local efforts. “We are not here to compete; we are here to complement. We are not here to take; we are here to build,” he said at the signing ceremony.
The Mozambique deal follows other large-scale investments announced by Al Mansour Holdings this month: a US$12 billion commitment to Botswana on 21st August, and a US$19 billion agreement with Zambia on 18th August. In April, Qatar and Egypt also finalised a US$7.5 billion investment pact.
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28 August 20252 min readQatar’S Al Mansour Holdings Signs Us$20 Billion Deal With Mozambique
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28 August 2025
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