By Sharyn Macnamara, editor African Mining, incorporating Mining Mirror
MTE will visit Steelpoort and Sibanye-Stillwater Gold Division in Gauteng on 3 and 24 October 2024, respectively.
The free-standing section of MTE’s annual Steelpoort expo. © Mining and Technical Exhibitions (MTE)
Steelpoort – chrome, vanadium opportunity
MTE’s annual visit over the past +20 years to Steelpoort answers the call from operations like Eastern Chrome Mines (ECM), Tubatse Ferrochrome, Lion Ferrochrome, Dwarsrivier Chrome Mine; Two Rivers Platinum; Thorncliffe Chrome Mine, Helena Chrome Mine; Magareng Chrome Mine; Mototolo Platinum Mines; Booysendal Platinum Mine; Mototolo Concentrator; Modikwa Platinum Mine; Marula Platinum Mine and TAS Samancor Smelter for new innovative solutions to assist in driving efficiencies and productivity in an energy, logistics and water constrained economy – with the addition of security woes in the region adding more complexity to an already challenged industry.
While one of the team’s newest interests in the area is the Steelpoortdrift (SPD) vanadium project, which is an open-pit mining development by Vanadium Resources (formerly Tando Resources) and one of the biggest and highest-grade vanadium deposits in the world1, the importance of this area mainly lies in its rich chrome base.
The importance of chrome to SA
Chrome, known for its hardiness and corrosion resistance, is essential in the production of stainless steel and is a particular focus for miners in the Steelpoort area. The Minerals Council South Africa says, “South Africa is the world’s largest producer of chromite ore – with over 19 million tonnes produced in 2023, the chrome industry has maintained rising production performance. Last year, production increased by 3.0% in year-on-year terms while production increased by 11.3% compared to 2019 levels,” noting that chrome export volumes have continued to rise despite the Transnet rail constraints. “This growth is largely due to the economic viability of exporting chrome by road through Maputo. Consequently, Transnet is not a major constraint on chromium ore exports. However, road transport remains more expensive than rail. Enhancements in rail infrastructure would significantly reduce costs for chrome producers, benefit the fiscus and indirectly make South African ports more profitable by increasing the volume of chrome ore exports handled.”2
Global significance of vanadium
The vanadium opportunity in the area is adding to the importance of this region, based on the fact that the automotive industry’s need for higher strength steel, specifically advanced high-strength steels (AHSS) and high-strength low-alloy steels (HSLA) has resulted in an increase in demand for the resource.3 Vanadium contributes to the strength and economic efficiency demanded in materials for vehicles, offering the most economical and highest strength-to-weight ratio to minimise fuel consumption.
MTE goes for gold – Sibanye-Stillwater Gold Division expo
Next, MTE will move on to Sibanye-Stillwater’s Gold Division which lies deep in Johannesburg’s golden heart and is one of South Africa’s biggest gold-producers. The Kloof Rec Club will be the venue for this expo. The MTE Global Sibanye-Stillwater show is timed well with global mined gold having just hit its second quarter production record recently.
These operations extract and process gold-bearing ore to produce beneficiated product ore, which is then refined further into gold bars with a purity of at least 99.9%. The refinery process takes place at Rand Refinery (in which Sibanye-Stillwater holds a 33% interest) and is one of the largest refineries in Africa and the world.
The World Gold Council’s Q2 2024 Gold Demand Trends report4, released at the end of July, revealed that total global gold demand increased 4% year-on-year to 1 258t – marking the strongest Q2 in its data series. Total demand was supported by healthy over the counter (OTC) transactions – up a notable 53% year-on-year at 329t. Increased OTC demand, continued buying from central banks, and a slowdown in ETF outflows drove record-high gold prices in Q2.
Macnamara says, “Brace yourselves for an additional exciting new journey in November to the Harmony gold mine, Doornkop in Randfontein and the Odendaalsrus area near Welkom – home to Harmony’s Tshepong and Phakisa gold mines.”
References:
- https://www.nsenergybusiness.com/projects/steelpoortdrift-vanadium-project/#
- Minerals Council South Africa, 2023 Comprehensive Facts & Figures pocketbook: https://www.mineralscouncil.org.za
- Vanitec press release titled: Demand for vanadium in the automotive industry, a double-edged sword.
- https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2024
Contact the MTE Team!
So, if you have solutions that fit the bill for these areas and sectors call the MTE team to book your spot in the limelight.
Andrew Macnamara: +27 (0)82 720 0083 | andrew@interactmedia.co.za
Sheldon Greybe: +27 (0)84 569 3516 | sheldong@interactmedia.co.za
Cathylene Labuschagne: +27 (0)11 579 4940 | cathylene@interactmedia.co.za