4 minute read
The Editor
Image credit: RCT
The new normal
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Ihesitate to say anything for certain in times as uncertain as this, especially about the state of an industry like mining, or the price of its commodities. When demand for resources declines, prices usually do the same, but at the moment, supply can be inconsistent, too. Even if demand falls, given the current unpredictability, supply may fall even faster. I’ve never been much of a gambler, but I wouldn’t want to bet on commodity prices today. After I started writing something about iron ore a few days ago, a local court in Brazil ordered Vale to suspend all activities in the Itabira mining complex, after 188 workers tested positive for Covid-19, taking out about 10 per cent of the company’s iron ore output at a stroke. I find it ironic in the extreme that what climate change campaigners failed to do after years of banging their drums, Covid-19 achieved in a matter of weeks – closing down our industries and stopping us from flying around the world for meetings and holidays. It’s also added some new terminology to our lexicon. A handful of new words enter the language every year, but this year has seen a glut. Who had heard of social distancing before? Self-isolation used to refer to anti-social hermits. Mining companies around the world have ‘enjoyed’ mixed
The Editor Martin Ashcroft
fortunes, depending on the priorities of their governments. Restrictions imposed have forced them to adapt the way they operate – if they can operate at all. Some countries recognised mining as an ‘essential activity’ from the beginning, which allowed operations to continue as long as they could be redesigned to comply with social distancing restrictions and regular sanitising of surfaces and equipment. As an editor, I dislike clichés, but I’m willing to make an exception for ‘new normal’. Whatever happens after this pandemic is over, the normality we once knew has gone forever. Health and safety has long been at the top of mining companies’ mission statements, but it’s going to be more important than ever from now on. Process automation, remote controlled equipment and autonomous vehicles have been increasing in recent years, and these look likely to become established practice in the new normal. A consultancy group calling themselves The Board of Innovation have coined the phrase ‘low touch economy’ to describe how businesses have been forced to operate to cope with Covid-19. Those that succeed will be those that follow business models based on this new normal, while keeping everyone as safe as possible.
Contents
Page: 5 • The Editor: The new normal 8 • Techenomics International: Liquid assets 14 • Glencore: Strength in diversity 28 • PhotoSat: The spy satellites that came in from the Cold War 38 • Sleipner Transport Systems boost equipment utilization rate 45 • Argonaut Gold and Alio Gold announce friendly at-market merger 47 • Purepoint Uranium updates Hook Lake JV exploration program • Newmont sells stake in Continental Gold for $260 million 49 • Body upgrade for haul trucks 51 • Construction continues at TVI Pacific’s Philippines project • Pueblo Viejo expansion will boost Dominican economy • Automation tech supports port bulk handling operation 53 • West African Resources pours first gold at Sanbrado • Teranga Gold acquires Senegal assets from Barrick 55 • Revitalized Veladero poised for new future
2 4 18 19 20 22 42 44 46 48 50 52 54 56 58 60 62 64 65 67 72 78 79 80 ADVERTISERS
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57 • Monarch Gold increases size of McKenzie Break with new mineral claims 59 • Newmont brings first autonomous haulage fleet to gold mining industry • Canada Cobalt name change 61 • Northern Vertex approved for Moss Gold Mine expansion 63 • Goliath expansion drilling intersects high grade 68 • South32: Developing nature’s resources
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World Mining Magazine 2020
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