Tag Archives: AngloGold Ashanti

Fleet Space to integrate gravity surveys into ExoShere end-to-end exploration platform

Mineral exploration, Mining services, Mining software, , , , , ,

Fleet Space’s mineral exploration solution, ExoSphere, is taking another step on its mission to becoming an end-to-end multiphysics platform powered by space and artificial intelligence (AI) with the addition of gravity surveys to its existing offering.

ExoSphere Gravity will now be available as an add-on to the real-time Ambient Noise Tomography (ANT) surveys used by over 40 industry leading exploration companies like Rio Tinto, Barrick Gold and Core Lithium. This means customers will be able to acquire gravity data in tandem with any deployment of an ExoSphere real-time ANT survey.

“Integrating gravity into our multiphysics offering represents Fleet Space’s commitment to delivering world-class, end-to-end exploration services that complement and enhance the data-driven strategies of the global mining industry,” Co-Founder & CEO of Fleet Space, Flavia Tata Nardini, says. “By leveling up traditional geophysical methods with ExoSphere’s vertically integrated hardware stack powered by space and AI, we can maximise the value of multiphysics datasets like gravity and decrease cost per discovery, all while minimising environmental impact. Reducing the friction between data acquisition, integration and targeting is essential to accelerate the path to discovery.”

Simultaneous acquisition of high-quality ANT and gravity data not only reduces the time and resources needed for data collection and minimises in-field logistics, but also enables the delivery of ANT survey insights plus two powerful gravity datasets with a single ExoSphere deployment, Fleet Space says. It does this through:

  • Cover-corrected gravity model: False positives are common with gravity anomalies due to the geometry of the cover/basement contact. Leveraging ANT data, ExoSphere will automatically conduct a cover correction of the gravity data to remove false positives with geological review and oversight from the Fleet Space team. This approach enables customers to make more precise targeting decisions by enhancing the accuracy and maximising the value of their gravity datasets; and
  • 3D density model: Density, as measured by gravity surveys, and seismic velocity, as measured by ANT, are critical metrics for effective mineral detection. The combination of ANT and gravity enables the creation of a 3D density model which provides customers a multidimensional view of subsurface structures, allowing for a clearer differentiation of rock types. The integration of these complementary datasets improves the identification of high-value targets, while also minimising the costs associated with data integration by other means, the company says.

Gerrit Olivier, Chief Scientist at Fleet Space, says: “Joint analysis of ambient noise tomography and gravity is critical to enhance vectoring into mineralisation and optimise drilling design. By simultaneously analysing multiple physical properties, we significantly de-risk and reduce the uncertainty of interpreting geophysical anomalies by delivering a far more comprehensive understanding of the subtle and significant geological connections of the subsurface composition.

“This integrated approach to multiphysics reduces false positives while also maximising the quality of data-driven decisions used to pinpoint high-value targets, making exploration faster, more efficient and ultimately more successful.”

To support the rapid and complex needs of drill planning and targeting, Fleet Space’s team of geologists and geophysicists will analyse and process ExoSphere Gravity data as part of the ANT survey workflow. This includes the development of a survey plan optimised for the complementary acquisition of the ground gravity and ANT data, in addition to the full suite of customer support provided by Fleet Space’s domain experts with interpretation, target ranking and account management.

The expansion of ExoSphere’s multiphysics offerings follows a series of deployments that have opened new frontiers in the scale and reach of exploration. This year, Fleet Space conducted the world’s largest real-time ANT copper survey across 1,800 sq.km of Australia’s Macquarie Arc in support of Inflection Resources exploration agreement with AngloGold Ashanti, the world’s highest real-time ANT survey with Gold Fields at Salares Norte in Chile and delivered 3D subsurface maps across 1,150 sq.km of Barrick Gold’s Reko Diq project.

By introducing gravity as an add-on to ExoSphere’s real-time ANT survey capabilities, Fleet Space says it is positioned to radically reduce the exploration search space and advance the data-driven targeting efforts of customers worldwide.

AngloGold Ashanti aims for 3 Moz/y status with Centamin deal

Mine operation news, Mining mergers and acquisitions, Precious metals, , , ,

The boards of AngloGold Ashanti and Centamin have agreed the terms of a recommended acquisition of Centamin in a deal that values the company at $2.5 billion.

Centamin’s flagship asset is the Sukari gold mine, which is Egypt’s largest and first modern gold mine, as well as one of the world’s largest producing mines. Since production began in 2009, Sukari has produced over 5.9 Moz of gold.

The announcement came on the same day Centamin announced a trading update for the two months ending August 31, 2024, which outlined production of 93,278 oz of gold at an all-in sustaining cost (AISC) of $1,290/oz sold. This production came from both open-pit and underground sources at Sukari.

Under the terms of the transaction, Centamin shareholders will be entitled to receive for each Centamin share 0.06983 New AngloGold Ashanti Shares; and $0.125 in cash. The terms of the transaction value each Centamin share at £1.63 based on the closing price of $28.80 per AngloGold Ashanti share and a £:$ exchange rate of £1:$1.3080 on September 9, 2024. This represents a premium of approximately 36.7% to the Centamin closing price of £1.20 per Centamin share on September 9.

Immediately following completion, it is expected that AngloGold Ashanti shareholders will own approximately 83.6% and Centamin shareholders will own approximately 16.4% of AngloGold Ashanti’s enlarged issued share capital.

The addition of Sukari immediately increases AngloGold Ashanti’s annual gold production by circa-450,000 oz to over 3 Moz for the 12 months ended December 31, 2023, with an immediate reduction to combined unit total cash costs and AISC.

Alberto Calderon, CEO of AngloGold Ashanti, said: “We are delighted to be announcing today’s transaction, which will add a Tier 1 asset to our portfolio. The transaction is free cash flow accretive in the first full year of production and net asset value accretive from day one; it will also offer additional upsides as we leverage our corporate infrastructure and our core competencies in exploration, operations and asset optimisation. We will build on the good work by the Centamin team to realise the significant upside in Centamin.”

James Rutherford, the Chair of Centamin, added: “This transaction is an endorsement of Centamin’s achievement in re-establishing Sukari as a world-class operation and occurs as the Egyptian Government has taken important steps to attract foreign investment to develop the country’s significant geological potential.”

Should all approvals for the friendly acquisition go as planned, the transaction could become effective before the end of the year.

Swift gets three-year extension at Tropicana gold mine

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Swift says it has signed a renewal agreement to provide 24/7 technical support services for 36 months and entertainment services for 12 months to the accommodation village at the Tropicana gold mine in Western Australia (AngloGold Ashanti 70% and manager, Regis Resources Ltd 30%).

This contract includes the provision of remote and on-ground technical support by Swift’s skilled 24/7 technical support teams. It also includes the provision of entertainment services via Swift’s reseller agreement with Foxtel.

The total contract value over the full 36-month term is A$1.2 million ($800,713) with operating costs revenue commencing in July 2024.

This agreement is for a renewal of services provided by Swift Networks and represents a well-established, long-standing relationship with AngloGold Ashanti Australia, which is a subsidiary of AngloGold Ashanti plc, the company said. Swift and AngloGold Ashanti Australia entered their first agreement in 2015.

Swift CEO, Brian Mangano, said: “Swift places its customers at the centre of everything we do. Our teams work together to ensure that our clients are offered the best solution for their business requirements and that they are supported throughout our relationship. We always aim to be in long-term relationships, so, when our customers renew, I take this as proof that we are delivering against our customers’ requirements, and we are delivering against our brand promise.”

Perenti banks ~A$420M of contract works with Gold Fields, AngloGold and Roxgold

Mine operation news, Mining services, Precious metals, , , , , , , , , ,

Perenti Limited’s underground mining businesses have been awarded contract extensions valued at circa-A$420 million ($276 million), in three separate projects across Australia and Africa, the company says.

The contract extensions include:

  • A 12-month, circa A$125 million contract extension to continue underground development and production works at the Gold Fields Agnew underground gold mine in Autsralia;
  • A 12-month, circa-A$180 million contract extension at AngloGold Ashanti plc’s Obuasi underground gold mine in Ghana; and
  • A two-year, circa-A$115 million contract extension of existing underground development and production works at the Roxgold Inc Yaramoko underground gold mine in Burkina Faso.

Mark Norwell, Managing Director & Chief Executive Officer of Perenti said: “We pride ourselves on our enduring relationships, so we are especially pleased to be continuing our relationship with these long-term clients. Our Contract Mining division is now led by Gabrielle Iwanow and will continue to focus on safely delivering for our clients and on our strategic objectives. I look forward to providing an update on the business, including the excellent progress we have made on the integration of DDH1, as part of our 1H23 results which will be released to the market in February.”

Gabrielle Iwanow, President Contract Mining, said: “In my first few weeks at Perenti, I have been very impressed with the team’s technical capability and the operational performance that they deliver to our clients. I believe that it is these factors that underpin the strength and depth of our relationships.

“With these contract awards combined with those previously announced, namely circa-A$360 million related to the Sandfire Resources A4 project in Botswana and a further A$111 million related to three Australian surface and underground contract awards, the team has secured nearly A$900 million of revenue for the business. I am very proud to be leading and supporting the Contract Mining team as we collectively work towards delivering our 2025 strategic objectives.”

Resourcing Tomorrow

Major miners join Resourcing Tomorrow lineup

Energy minerals, Environmental, Mining events, , , , , , , , , , , , , , , ,

Representatives from the world’s largest mining companies Anglo American, BHP, Glencore, Rio Tinto and Vale have confirmed their attendance for this year’s Resourcing Tomorrow event, in London, event organisers say.

These attendees will join other leading mining companies including AngloGold Ashanti, Antofagasta Minerals, Barrick, B2 Gold, Eldorado Gold, Endeavour Mining, Freeport-McMoRan, Newmont, Sibanye-Stillwater and Teck Resources.

As Europe’s largest mining event, Resourcing Tomorrow: Accelerating the Energy Transition takes place in London on November 28-30 and is poised to be yet another agenda-setting edition for the industry, fostering collaboration and knowledge exchange among professionals in the field, event organisers say.

Resourcing Tomorrow unites all stakeholders in the mining industry, including global mining and energy companies, investors, government delegations, researchers, educators, regulators, suppliers and operators. The conference program will provide 100-plus sessions in which all of the aforementioned miners will participate, giving attendees the opportunity to engage and network with leaders and industry specialists from around the world.

The event will draw participants from more than 100 countries, including Australia, USA, UK, Canada, India, Brazil, South Africa, Ghana, Chile, Nigeria, Peru and Germany, demonstrating its international appeal and the global significance of the mining industry, organisers say.

With the increasing pace of change and emerging technologies in the mining industry, Resourcing Tomorrow will focus on the future of our industry and presents a unique opportunity for international representatives of the world’s leading resource economies to meet, find new partners, discuss current challenges, and share the latest research, technology and best practice.

International Mining is a media sponsor of Resourcing Tomorrow.

Veolia wins two-year water management contract renewal at AngloGold Obuasi

Environmental, Mine operation news, Mining services, Precious metals, Water management, , , , ,

Veolia says it has renewed its contract with AngloGold Ashanti Ghana Limited, part of the South Africa headquartered gold mining company, AngloGold Ashanti, with Veolia Ghana Limited continuing to be responsible for operating and maintaining all the water treatment plants for the Obuasi open-pit and underground operations in Ghana.

These two-year extension confirms Veolia’s operational know-how in the preservation, depollution and renewal of water resources for the mining industry, it says.

Six facilities are required to guarantee the treated water and discharge quality for AngloGold Ashanti’s Obuasi mine: four wastewater treatment plants and two drinking water treatment plants.

This water is used in various activities associated with the exploration, extraction and transformation processes associated with mining, whether that is to process ore, remove dust, transport sludge, or supply employees needs. In a tropical climate subject to highly seasonal heavy rainfall, it is the Ghanaian gold mine’s responsibility to manage its wastewater and its process residue in order to comply with the local Environmental Protection Agency’s requirements in terms of discharges into the ecosystem.

Veolia, in 2019, was originally awarded a four-year contract to carry out these services at Obuasi. During these four years, it was awarded “Best Contractor Company in Quarter 3 2022” by AngloGold Ashanti Ghana, having worked more than 1 million hours without a single accident-related stoppage. Veolia also managed to comply with the environmental requirements in force by producing nearly 33.5 million cu.m of water, including about 7 million cu.m of drinking water for the needs of the site and surrounding communities.

Philippe Bourdeaux, Veolia’s Executive Vice President, Africa and Middle East, said: “Our group works side by side with industrial companies to respond to the major challenges they face, both in Africa and around the world. Veolia will continue to make its know-how
available to AngloGold Ashanti and to the mining industry to manage water as a finite and endangered resource.”

AngloGold eyes autonomous haulage advantages at Nevada project

Automation, Mineral project development, Mining events, Precious metals, , , , , , , , , , , , ,

AngloGold Ashanti says it is considering the use of autonomous haulage at its Expanded Silicon project, in Nevada, USA, as part of plans to leverage new technology at the in-development asset.

Speaking on a roundtable discussion titled ‘Beyond the hype: how technology can drive mining operations performance’ organised by global subsurface software company Seequent, Marcelo Godoy, Chief Technology Officer at AngloGold Ashanti, said the company was studying the application of autonomous haulage to optimise efficiency and reduce risks at its projects in Nevada.

Discussing automation and robotics as one of three transformational technologies the company is looking to leverage to achieve its net-zero emissions goals by 2050 – electric vehicles and renewable technologies being the other two – Godoy said he saw robots running key production activities at the company’s mines by the time they reach net-zero emission status.

AngloGold has been leveraging automation in its drilling operations, with Godoy noting on the roundtable that the company was seeing improvements in terms of efficiency, precision and safety.

“We also make extensive use of semi-autonomous LHDs in our underground mines, and we are studying the application of autonomous haulage vehicles to optimise efficiency and reduce risks in our projects in Nevada,” he said.

Asked to expand on this by IM after the roundtable, he said: “Our Nevada projects are conceptualised as open-pit mining operations and, at this point, we are only looking at autonomous haulage.

“As far as I know, there is no proven and off-the-shelf autonomous loading technology that could successfully work in the hard-rock environments where we operate. Autonomous loading is still an ongoing technological development and I expect that it will become prevalent in the mining industry before the end of this decade.”

He added that the option of autonomous haulage is being considered at the company’s Expanded Silicon project, which builds off AngloGold’s discovery of the Silicon gold deposit in the Beatty District of Nevada.

In 2022, the company outlined a maiden inferred resource estimate of 3.37 Moz of gold at a grade of 0.87 g/t Au and 14.17 Moz of silver at 3.66 g/t Ag contained within a base of 120.4 Mt. A prefeasibility study is being worked on currently.

Pacific Energy to integrate more ‘clean energy’ into Tropicana gold operation

Environmental, Mine operation news, Mining services, Power supply for mines, Sustainable mining, , , , , , , , , ,

Pacific Energy says it has been awarded the contract to integrate 62 MW of clean energy into its existing 54 MW gas fired power system at the Tropicana gold mine, 330 km northeast of Kalgoorlie in Western Australia.

Tropicana is owned by AngloGold Ashanti Australia Ltd (70% and manager) and Regis Resources Ltd (30%).

The renewable expansion of the existing power system will be delivered under a 10-year build-own-operate agreement. When completed, the 116 MW power station will be the largest off-grid hybrid investment in the power provider’s portfolio, and, at time of contract, the largest off-grid gas-wind-solar-battery storage facility in the Australian resources sector, according to Pacific Energy.

The expansion will incorporate four 6 MW wind turbines, a 24 MW solar farm and a 14 MW battery storage system (BESS). The integrated power facility’s intelligent control system, which has been developed in-house by Pacific Energy, will optimise input from the high penetration renewable energy and storage technologies and allow the system to run hydrocarbons-free for extended periods of time, the company says.

Pacific Energy has designed the new system to support AngloGold Ashanti’s strategy of reducing its global net carbon emissions from energy use by 30% by 2030, as part of its roadmap to net-zero carbon emissions by 2050.

Overall, the renewables integration is expected to reduce Tropicana’s diesel and gas consumption for power generation by 96% and 50% respectively, slashing carbon emissions by an average of 65,000 t/y over the life of the agreement, according to Pacific Energy.

Pacific Energy Chief Executive, Jamie Cullen, said: “This is an excellent outcome for our long-time client, AngloGold Ashanti. We’ve been on the journey with them since 2012 and we are incredibly pleased to apply proven global technologies and our in-house expertise to help decarbonise their operations without losing power reliability or efficiency.

“To date, we are the only operator to successfully supply hydrocarbons-free power to mine sites in Australia.

“We expect our new system to reduce the mine site’s overall power generation emissions by 50%. It’s a really exciting prospect for us and AngloGold Ashanti, and one we’ve worked hard to achieve on our client’s behalf.”

Delivery of the project, which is slated to be Australia’s most remote large-scale hybrid power system, will be coordinated by Pacific Energy’s Remote Energy and Integrated Renewables divisions. The company will capitalise on its fully-integrated capabilities by manufacturing the BESS, high-voltage switch room and PV ring main units in house at its Western Australia-based facilities, it says.

Pacific Energy is expected to begin site works in July this year, with the project due for completion in early 2025.

MacLean SS5 battery-electric shotcrete sprayer to be tested at AngloGold’s Sunrise Dam

Environmental, Mining equipment, Mining events, Mining services, Sustainable mining, , , , , , , , , , , ,

MacLean is set to showcase its SS5 battery-electric vehicle (BEV) Shotcrete Sprayer at the Underground Operators Conference 2023 (UGOPS), in Brisbane, Australia, next week, but it also has one eye on the unit’s first mine site trial at the AngloGold Ashanti-owned Sunrise Dam operation in Western Australia.

Attendees of UGOPS will get a first-hand look at the EV Series™ product on the company’s booth. This battery-electric shotcrete sprayer has been put through its paces at the Maclean Research & Training Facility in Sudbury, Ontario, and is equipped with the likes of Quickscan thickness imaging and Chemsave accelerant savings technologies.

Alongside celebrating its 50th year of existence as an Ontario-headquartered company, 2023 is a landmark year for MacLean Australia, with multiple MacLean BEVs starting to arrive in-country to be introduced to Australian mining companies and mining contractors. One such contractor is Barminco, which is set to receive the SS5 for testing at Sunrise Dam. Sandvik’s 65-t-payload battery-electric truck, the TH665B, is also set for field testing at the same operation.

MacLean has had a full-service parts and technical support branch in Perth, Western Australia, for over a decade and, in 2021, opened a second service and support branch in Orange, New South Wales, to support a growing fleet of MacLean mining vehicles in underground mining hubs in the eastern region of the country.

Jari Tuorila, MacLean GM for Australasia, said: “We are really looking forward to the UGOPS event and showing – not just telling – the Australian mining industry exactly what the value proposition of MacLean EV Series product line is. When we say, ‘EV-proven, EV-ready’, we mean it. It’s not just a slogan. Over 50 MacLean BEVs have been commissioned around the mining world since the MacLean Fleet Electrification program was launched in 2015, with a quarter million operating hours logged, and we’re only at the starting line for Australia.

“Our message to our industry colleagues is simple – we have a diesel-free production support fleet option for you, right now. We can’t wait to welcome visitors to our booth to see the BEV shotcrete sprayer in person and speak with our team of technical experts, which will include product management and engineering colleagues from Canada.”

Patrick Marshall, MacLean’s Brisbane-based Vice President of Technology, added: “The UGOPS showcase is just the kick-off to a multi-stage introduction of MacLean EV Series technology to Australia across 2023. The minute the show closes on March 29th, the MacLean Australia team will be turning their attention to shipping the BEV SS5 unit to Barminco at Sunrise Dam, where it will be trialled by the contractor throughout the summer. We are committed to seeing this real-world trial succeed and then build on that success to more broadly introduce MacLean fleet electrification to the Australian industry.”

Gold Fields and AngloGold Ashanti agree on deal to create Africa’s largest gold mine

Mine operation news, Precious metals, Sustainable mining, , , , , , ,

Gold Fields and AngloGold Ashanti have agreed the key terms of a proposed joint venture in Ghana between Gold Fields’ Tarkwa (pictured above) and AngloGold Ashanti’s neighbouring Iduapriem mines to create what they say will be the largest gold mine in Africa and one of the largest in the world.

The Tarkwa mine is held by Gold Fields Ghana, in which Gold Fields currently owns a 90% share and the Government of Ghana (GoG) holds 10%. The Iduapriem mine is currently 100% owned by AngloGold Ashanti. Both mines are located near the town of Tarkwa in the country’s Western Region.

The parties have agreed in principle on the key terms of the proposed jv and have commenced with preliminary, high-level and constructive engagements with senior government officials in Ghana and will continue engaging with the GoG, relevant regulators and other key stakeholders, with a view to implementing the proposed jv as soon as practically possible. They have also agreed to mutual exclusivity during this engagement.

It is intended that the jv will be an incorporated joint venture, constituted within Gold Fields Ghana and operated by Gold Fields. AngloGold Ashanti will contribute its 100% interest in Iduapriem to Gold Fields Ghana in return for a shareholding in that company.

The companies do not anticipate that any material, additional capital injection will be required by either company to establish the proposed jv, and is expected to materially improve its capital intensity once operational.

Excluding the interest to be held by the GoG, Gold Fields will have an interest of 66.7%, or two-thirds, and AngloGold Ashanti will have an interest of 33.3%, or one-third, in the jv.

The Iduapriem mine is currently 100% owned by AngloGold Ashanti

The companies said: “The proposed jv would create the largest gold mine in Africa and one of the largest in the world. It will be a high-quality operation, supported by a substantial mineral endowment and an initial life spanning almost two decades.”

Operational synergies will be achieved by optimising mining of the combined orebodies and consolidating the infrastructure of the immediately adjacent mines for the long-term benefit of all shareholders and stakeholders, the companies said.

Martin Preece, Interim CEO of Gold Fields, said: “The proposed jv is an exciting opportunity to combine mining operations that are essentially part of the same mineral deposit and is something that Gold Fields and AngloGold Ashanti have discussed many times before over the years. The ability to optimise mining and the use of shared infrastructure across the combined operation will result in significant flexibility in mine planning, materially enhancing the economics of the mine and ensuring quality and scale of operation that will be world class. That unlocked value will underpin the proposed jv’s continued contribution to our host communities and Ghana for decades to come. For Gold Fields, it will also significantly enhance the overall quality of our portfolio.”

Alberto Calderon, CEO AngloGold Ashanti: “This combination puts together two parts of the same world-class orebody, allowing us to share skills and infrastructure to significantly enhance every aspect of this mining operation, from exploration and planning, to mining and processing. By creating one of the world’s largest open-pit gold operations, in a pre-eminent mining jurisdiction, we will create longer-term value not only for AngloGold Ashanti and Gold Fields, but for the combined stakeholders in our local host communities and for all of Ghana.”

The combined operation comes with an estimated life of at least 18 years, which could increase through an extension and optimisation plan to be considered under the proposed jv over the next three years, and which could also enhance envisaged production and cost parameters.

It would come with estimated average annual production (100% basis) of almost 900,000 oz over the first five years and average annual production in excess of 600,000 oz over the estimated life of operation. All-in sustaining costs (in 2023 terms) were expected to be less than $1,000/oz over the first five years and less than $1,200/oz over the estimated life of operation.