Modern Mining April 2016

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MINING News

1st-3rd June 2016 Accra International Conference Centre, Ghana

WEST AFRICA’S MOST IMPORTANT MINING AND POWER EVENT

Now in its 22nd year, WAMPEX is a major forum for the international mining, power and energy industries that attracts exhibitors from across the world. The exhibition brings together key figures from the mining and power sectors, as well as senior government ministers from 25 countries, in one of the world's biggest markets. Visitors this year will meet new suppliers and discover new technologies that are revolutionising the way we do business. Cost of production and improving efficiency and output is essential to the future of the industry - to keep abreast of latest thinking you need to visit WAMPEX 2016.

the correct multi-reef layer profile. A focus on interburden stripping (rather than overburden stripping) contributed to improved ore expo- sure and feed grade flexibility during the quarter. An increase in reef mined has allowed the mine to build ROM stock- piles ahead of the mills. This provides for improved reef layer blending and better feed grade consistency, resulting in improved plant recov- eries and running times. Contained PGMs of 36,0 kt on a 6E basis for the quarter equate on an annualised basis to steady state production of 144,0 koz/a. Recoveries at 68,5 % showed an improvement from the 65,8 % reported at the year end, and put Tharisa on track to achieve its targeted recovery rate of 70 % in the near term. According to Tharisa, weaker PGM and chrome prices during Q2 FY2016 were partially offset by the weakening of the South African rand against the US dollar. Constrained by global macroeconomic con- ditions, the average PGM basket price for the quarter was US$685 per ounce, while the rand basket pricewas R10 849 per ounce – an improve- ment of R984 per ounce on the average price achieved in Q1 FY2016. Themarked decline in the averagemetallurgical grade chrome con- centrate price in Q2 FY2016 was primarily due to the slowdown in the Chinese economy and uncertainty around growth and consumption of raw materials. There has, however, been a marked improvement in metallurgical grade chrome prices post the quarter end as demand returns to sustainable levels. During the quarter, Tharisa modified the chrome processing circuit at its Voyager Plant to increase production of higher value specialty grade chrome concentrates. “This flexibility has allowed chrome production to be distributed to more globally diversified markets. The circuit modification has resulted in improved chrome recoveries nearing the 65 % target with- out impacting PGM recoveries,” notes Pouroulis. Pouroulis says the achievement of steady state production levels bodes well for Tharisa and reinforces the group’s place as a glob- ally competitive low cost PGM and chrome co-producer and further entrenches its position as an operationally cash generative business throughout the commodity cycle. 

WAMPOC, the 11th West African Mining & Power Conference will once again play host to industry heads and influencers including Dr N D K Asante of Ghana's Energy Commission, who will talk about power generation in the mining sector, and Isabella Ramdoo of the European Centre of Developement Policy Management, who will discuss opportunities in the extraction sector, despite the challenging global environment.

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April 2016  MODERN MINING  17