OZ Minerals sees successful processing trials

As base metals prices stagnate, many miners are looking to innovative methods to increase production.

One area that many operators are looking to for cost savings and efficiency increases is that of minerals processing.

OZ Minerals began trials to slash costs and boost productivity by implementing more efficient minerals processing at its Carrapatenna operation.

The miner developed a hydromet demonstration processing plant to verify scalability for its site late last year, and has now seen positive results from the trials.

“The first trial results from the hydromet demonstration plant indicate that the process is scalable and is already returning copper-in-concentrate levels of more than 55 per cent,” OZ Minerals stated.

“This compares favourably to globally produced concentrates with copper-in-concentrate grades that typically average less than 30 per cent,” OZ Minerals said.

It added that impurity elements were below penalisable levels.

“This is a great set of first results for OZ Minerals and the copper industry in South Australia,” OZ managing director Andrew Cole said.

He went on to state that “the successful completion of this demonstration trial will allow up sot produce some of the best and cleanest copper concentrate in the world, with virtually no impurities”.

The new pilot plant builds upon laboratory scale test work, where a final product exceeding 55 per cent copper-in-concentrate from a starting concentrate grade of 30 to 35 per cent.

According to OZ Minerals, the system involves processing copper concentrate containing chalcopyrite and bornite. It then converts these two minerals into chalcocite by leaching out the iron and other impurities.

“On the back of these promising results,” Cole said, ”we will continue to feed samples of concentrate through the plant over the next few months to build on our technical understanding and confidence in the process.”map_carapateenaThe trials come as South Australia throws its support behind the copper industry in the state, launching a new strategy to ramp up production.

Speaking before members of the South Australian Chamber of Mines and Energy (SACOME), state treasurer and resources minister Tom Koutsantonis announced the next phase of consultation was underway.

“There is widespread agreement that South Australia’s geology and geography does put us in the box seat to supply copper to the world’s fast growing economies,” Koutsantonis said.

“The Directions Paper on the Copper Strategy seeks the views of industry, regional and Aboriginal communities, and other stakeholders on how we tackle some of the issues that could prevent South Australia from reaching its full potential as a copper producer.

“In the weeks ahead, we will be looking to the community, landowners, producers, explorers, researchers, innovators and suppliers to provide their guidance on the final design of this long-term strategy.”

As part of the strategy the South Australian Government has pledged $10 million to found a joint study of the hydromet process between OZ Minerals and Orway Mineral Consultants, with work carried out by Adelaide University.

OZ Minerals will contribute $8 million to the research.

Speaking on the this plan and the trial results, Cole added that “this is crucial research that could help maximise the value of South Australia’s copper resources for generations to come”.

“When considered in the context of the South Australian Copper Strategy, it is a very exciting time for the industry.”

With current cooper production around 300,000 tonnes per annum, the SA government wants to triple production by 2030 to become a major contributor to Australia positioning itself as the third largest copper producer in the world.

At present South Australia has three active copper mines; Olympic Dam (BHP), Prominent Hill (OZ Minerals) and Kanmantoo (Hillgrove Resources).

BUYER SOUGHT FOR QUARRY AHEAD OF REDEVELOPMENT

Lilydale-quarry-pitA quarry operator is seeking a buyer for its limestone operation ahead of the site’s proposed redevelopment into a residential hub.
Sibelco Australia has launched a public tender sale campaign for its Lilydale quarry, located in Melbourne, Victoria.

The supplier announced earlier this month that operations would cease before the end of the year due to “flat” economic and market conditions, with Sibelco spokesperson Helen Stanley confirming to Quarry more recently that the site was expected to close in October.

The quarry, which has been producing quicklime, hydrated lime and other associated products for more than 140 years, had originally been scheduled to close in 2016 once its resource had been exhausted.

“The Lilydale site has been a significant part of Sibelco Australia’s business success and we are proud of the strong legacy it leaves behind,” Stanley commented. “The Lilydale site has provided long-term employment to the Lilydale community for more than a century, [and has been] pivotal to the growth of Lilydale and the broader Yarra Ranges region of Victoria.”

Plans for the future
For more than two years, Sibelco has been planning the quarry site’s future with the support of the Victorian Government’s property development agency, Places Victoria, and the Yarra Ranges Council.

The draft master plan it first released in June 2013 – which is known as Plan Cave Hill – envisaged the establishment of up to 2500 new residences, retail outlets and community facilities focused around a large, central parkland by way of a 15 to 20 year redevelopment program.

Sibelco CEO Tom Cutbush explained that the sale of the quarry would help progress these plans.

“Sibelco Australia recognises that we are not experienced property developers, and therefore … we are launching a public tender sales campaign to attract a property developer with the skills and resources necessary to turn this exciting vision into a reality,” he said.

In July this year, Sibelco lodged a planning scheme amendment request with the Yarra Ranges Council to rezone the site in preparation for its redevelopment.

Commenting on the milestone, Cutbush said, “Sibelco is excited to see the site take a step closer to a positive legacy for the Lilydale community including celebration of the site’s long history and its close connection with the growth and prosperity of Lilydale and the broader Yarra Ranges region.”

The final master plan will be exhibited for public consultation later this year following the council’s initial review.

Originally established as a family-operated business in 1872, the 163ha Lilydale quarry site was acquired by Sibelco in 2002.

Sedgman win BHP iron ore contract

jimblebar-2Sedgman has been awarded a contract for crushing and conveyor works at BHP’s Jimblebar iron ore mine.

The $145 million contract will see the Sedgman Civmec joint venture (SCJV) provide the engineering procurement construction and commissioning work for Jimblebar’s new primary crusher.

The joint venture is specifically focused on target minerals processing and materials handling projects in WA.

“The award of this contract followed a competitive tender process and is testament to the design and safe delivery capability that SCJV was able to demonstrate to BHPBIO (BHP Billiton Iron Ore),” Sedgman CEO Peter Watson said.

“We look forward to delivering a successful outcome for the project and further strengthening our relationship with BHPBIO.”

ThyssenKrupp to deliver new IPCC system to Cuajone including gearless drives

IPCCThyssenKrupp Industrial Solutions, the engineering and construction specialist within the ThyssenKrupp Group, has won a contract from Southern Peru Copper Corporation to supply a primary crushing and overland conveying system. The new system will be installed at the Cuajone copper mine in Peru, which has been in operation since 1976, to transport ore from the open pit mine to the concentrator. It will replace the existing long railway haulage system and is expected to start operating in 2016.

The contract awarded to ThyssenKrupp includes engineering, procurement and construction supervision as well as commissioning support of the complete in-pit crushing and conveying (IPCC) system to process run of mine copper ore. Christof Brewka, Head of Operating Unit Mining, ThyssenKrupp Industrial Solutions: “The new crushing and conveying system will significantly reduce operating costs and energy consumption as well as emissions. This makes it a good example for our leading customised solutions for the mining industry which provide added value for our customers while at the same time helping to conserve natural resources.”

Zlatan Azinovic, CEO of ThyssenKrupp Industrial Solutions (Peru) said: “As part of our global growth strategy, we are further strengthening our footprint in South America. Our service center in Peru enables us to provide better and faster services to our customers in the local mining, minerals and cement industries. Only recently we have also invested into new service centres in Brazil and Chile.” As part of the new order, ThyssenKrupp is supplying a semi-mobile crushing plant with discharge, transfer and two overland conveyors with a capacity of 120,000 t/d of crushed ore transported to the existing coarse ore stockpile. The copper ore will be fed directly into a semi-mobile crushing plant located in the mine. Truck ramps made of sectional steel modules provide access for mine trucks with payload up to 360 t. The crushing plant’s main service and operating areas, including electrical infrastructure, will be physically separated and independent from the truck dumping level, which will significantly reduce vibration, dust and noise levels. The semi-mobile design is especially suitable for mine sites affected by frequent seismic activities.

The 63–114 heavy duty ThyssenKrupp gyratory crusher with its 1,200 kW direct drive takes the feed material from the feed hopper and reduces the run-of-mine copper ore to the required product size. The crushed ore is extracted from the surge bin underneath the crusher by means of a heavy duty low speed belt feeder. The 2,800 mm wide ST 1800 conveyor will run at a nominal speed of 1.5 m/sec and is powered by one 800 kW conventional drive and a variable-frequency drive (VFD). A 400 m long sacrificial conveyor carries the crushed ore from the semi-mobile crushing plant and crusher discharge conveyor to two overland conveyors spanning the 7.5 km distance to the coarse ore stockpile. The first of the two overland conveyors will be 1830 mm wide with ST 6800 belting and will run at 6.2 m/sec. It is powered by two 6,000 kW Siemens gearless drives. The largest of their kind in the world, these conveyor drives utilise Siemens Integrated Drive System technology to provide a high level of availability (exceeding 99%) by eliminating many of the traditional conveyor drive components such as reducers, couplings, and motor bearings and their associated maintenance times and costs.

Iron Road signs agreements for SA iron ore project

iron-road-project-SA-jobsSouth Australia is edging ever closer to the start of a major iron ore mine, with a number of agreements signed to enable further development of the Central Eyre Iron Project (CEIP).

Despite the severe commodity price downturn over the past 12 months, Iron Road Limited has continued negotiations leading to several Memorandums of Understanding and an indigenous land use agreement being signed this afternoon.

A deal for infrastructure funding was signed this afternoon with AIXI Investments managing director Christopher Camarsh, which will support construction of a deep sea port at Cape Hardy suited for Capesize vessels, as well as an infrastructure corridor for rail, water and power.

Iron Road managing director also signed an Indigenous Land Use Agreement with Barngarla Aboriginal Corporation chair Elliot McNamara, SA Native Title Services and the Attorney General of SA, setting out all commitments in relation to native title and Aboriginal heritage during construction, operation, and closure of tenements.

“Iroin Road’s commitment to establishing and maintaining relationships with key stakeholder groups on the Eyre Peninsula has taken a further step with the signing of the various documents today,” Stocks said.

MoUs were also signed with the Wudinna District Council, District Council of Cleve, and four Eyre Peninsula peak bodies for community and environmental outcomes.

Stocks said there was potential for funding from international pension funds that would enable construction of the CEIP.

“Pension funds are seeking long term stable sources of return, and we believe the CEIP infrastructure more than fits the bill,” Stocks said.

“Funding by international pension funds will also support us in our commitment to allow third party access to the CEIP infrastructure, including local grain exports.”

Last year Stocks said the costing for the project was based on $112 per tonne spot price.

Bradken ends merger talks

bradkenMining services group Bradken has announced it will not continue merger discussions with Chilean industrial group Sigdo Koppers.

The parties had agreed to work together to review the strategic and financial merits of a potential merger during a 60 day exclusivity period which expired on the 29th of August.

However during this period, Bradken revealed Sigdo Koppers, along with CHAMP Private Equity had not initiated discussions on a possible merger structure or values, and the consortium advised that while it remains committed to the project, it is not in a position to provide a proposal to the company.

Bradken said the stalled merger talks will allow it to focus all of its resources on completing a restructuring program and growing market share.

“This has been a source of distraction for management and the board during a volatile period in the external operating environment,” Bradken said in a statement.

Shares in Bradken have dropped from $6.44 in October 2013 to just $1.165 yesterday.

In early August the company reported a full year loss of $241.3 million, caused by a major restructure of the company as well as asset write-downs and the broader downturn in the resources sector.

Bradken said its restructuring program is largely complete, with the company well-placed to benefit from the measures it has put in place.

AIMEX starts today

The first day of AIMEX has begun, with exhibitors showcasing mining technology, services, and heavy equipment from around the world.

The event, which typically sees thousands pass through its doors, is Australia’s largest mining technology and machinery event.

This year will again focus on innovation, and how miners can make their operations more productive.

Across all four days of the event, attendees can immerse themselves in some of the newest insights and developments to come on the market.

Highlights include the exhibition of over 400 exhibitors showcasing the latest mining technology, equipment and services (and attracting thousands of mining personnel) and a seminar and exhibition program focused on cost savings and innovation.

The show will also host the largest ever Indian delegation.

Australian Mining will be reporting on the latest developments, so keep a track of our facebook at Australian Mining, and our twitter @ozmining to see the newest equipment on show.

What’s on the stands:
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AIMEX Opens Today! (1 Sept) Largest Indian Delegation Ever

This year the Indian Government is bringing its largest delegation ever to Asia-Pacific’s International Mining Exhibition (AIMEX) 2015 as part of an event that will allow international networking and showcase some of the newest innovations and cost-saving technologies and from 1-4 September at the Sydney Showgrounds.

Across all four days of the event, attendees can immerse themselves in some of the newest insights and developments to come on the market. Highlights include the exhibition of over 400 exhibitors showcasing the latest mining technology, equipment and services (and attracting thousands of mining personnel) and a seminar and exhibition program focused on cost savings and innovation.

Robby Clark, Director of REEDMININGEVENTS, says that India has always been a market of interest to Australian suppliers, but is even more so in the light of the current global market adjustments.
“In association with Austrade, AIMEX this year is hosting the Indian Government’s largest delegation ever to AIMEX 2015. The delegation will be led by The Honourable Minister of Mines for the Government of India, Shri Narendra Singh Tomar, accompanied by heads of several mining companies,” he said. “We continue to have a wide range of international delegates interested in touching base with Australian suppliers at this year’s event.”

Austrade has arranged business matching opportunities for Australian METS companies to meet with Austrade market specialists, international mining companies and distributors visiting from Chile, India, China, Canada, Myanmar, Mongolia and PNG. This includes:

Austrade, in conjunction with NSW Department of Industry, is coordinating an International Mining Networking event with more than 120 booked to attend. Austrade’s CEO Bruce Gosper will also speak briefly at the event.
Austrade, in partnership with the Mining Ministry of Ontario, is coordinating a briefing on mining opportunities in Canada for Australian METS companies on Thursday at AIMEX.
Austrade, in partnership with Austmine, is providing two exclusive briefings to visiting international mining companies and distributors on Australia’s leading METS capability in innovation, productivity and safety to improve mining operations around the world.
The gala networking dinner tonight (1 Sept) includes a panel discussion from industry heavyweights David Moult – MD and CEO of Centennial Coal, Stefanie Loader – MD Northparkes Mine, Chair NSW Mining and Brendan Pearson – CEO of Minerals Council of Australia.

Two features of the 2015 demonstration and seminar program include:

Hitachi – Supporting Innovation and Technology, with Eric Green, General Manager – Mining, Hitachi Construction Machinery Australia (HCA), and Gerhard van Niekerk, VP Metals and Mining, Hitachi Consulting Thursday 3rd September: The current mining industry has seen a turn towards new ways to reduce costs and increase the productivity of mining operations. Hitachi are committed on providing benefits through converging the latest high efficiency machinery, operation technology and information technology. For example, the Hitachi Excavator already has a reputation for reliability and increasing productivity with the new Hitachi AC electric drive trucks also generating the same reputation.
Protect your assets with Collision Avoidance and Fatigue Monitoring Systems, with Graeme Corbett Business Development Manager APAC, 11:00AM, Wednesday 2nd September: Did you know that about two thirds of traffic accidents are due to driver fatigue? Learn more about SAFEmine’s FatigueMonitor, a revolutionary solution that combines data from fatigue protection and collision avoidance to minimise accidents involving mining vehicles. This new technology is the only solution on the market that is integrated with Collision Avoidance – be sure to attend this seminar if you’re interested in ways to improve surface mine safety and efficiency.
Live demonstrations for the latest on machinery automation and robotics, remote control operation systems for rockbreaker boom systems (Transmin), cleaning (Flexco), LED lights (Hella) and maintenance and repair (Transmin, Loctite) will also be provided throughout the conference.

AIMEX 2015 will be held at the Sydney Showgrounds, Olympic Park. Visit http://www.aimex.com.au to register, or just come as you are!

For more information contact:
Media:
Karina Randall, PR Specialist, Heard PR, Ph 02 8279 7876
Email: krandall@heardagency.com
Mobile (0414) 823 712

The 100 worst performing miners

Taking a look at the 100 worst performances of miners (excluding microcaps) on the NSYE, LSE, TSX and ASX on Monday confirms the view.

The top ten of the losers on Monday were a broad slice of the mining sector.

Glencore – a diversified miner – was down 13%, putting in the worst performance among the largest miners. Gabriel Resources – a gold developer sitting on the controversial Rosia Montana project in Romania – was down 15%.

First Quantum Minerals, the copper miner, had a 13% loss. A slew of gold and silver miners were among the worst losers: McEwen Mining (down 14%), GoGold (14%), Kinross Gold (13%), Centerra Gold down (12%) and Coeur d’Alene Mines (11%).

And this “100 worst” list was not top heavy. The median loser on it – just to give a sense of the distribution here – was down 7.8%. The average was down 8%. The range was -4.3% to -16.4% encompassing all the big names like BHP, Rio, Cameco, Barrick, Goldcorp. So yes, it was a very bad day.

Company Ticker Change (Aug. 24)
1 Aureus Mining Inc AUE.TO -16.4%
2 Gabriel Resources, Ltd. GBU.TO -14.6%
3 Mcewen Mining Inc MUX.TO -13.9%
4 Gogold Resources Inc. GGD.TO -13.6%
5 Glencore Xstrata Plc GLEN.L -13.0%
6 First Quantum Minerals Ltd. FQM.L -12.7%
7 Kinross Gold Corporation KGC -12.6%
8 Centerra Gold Inc. CG.TO -11.9%
9 Peabody Energy Corp. BTU -11.8%
10 Coeur d`Alene Mines Corp. CDE -10.8%
11 ST Barbara Ltd. SBM.AX -10.8%
12 Yanzhou Coal Mining Co. Ltd. YZC -10.6%
13 IAMGOLD Corp. IMG.TO -10.5%
14 Yamana Gold, Inc. YRI.TO -10.3%
15 Denison Mines Corp. DNN -10.2%
16 Dominion Diamond Corporation DDC -10.1%
17 Gold Fields Ltd. GFI -10.1%
18 Endeavour Silver Corp. EDR.TO -10.0%
19 Anglo American plc AAL.L -9.9%
20 Compania de Minas Buenaventura SA BVN -9.8%
21 Endeavour Mining Corporation EDV.TO -9.7%
22 Sibanye Gold Limited American D SBGL -9.6%
23 New Gold, Inc. NGD -9.5%
24 Freeport-McMoRan Copper & Gold Inc. FCX -9.4%
25 Fortuna Silver Mines Inc. FVI.TO -9.3%
26 Hecla Mining Co. HL -9.3%
27 Whitehaven Coal Limited WHC.AX -9.3%
28 BHP Billiton plc BLT.L -9.2%
29 Nexgen Energy Ltd NXE.V -9.2%
30 Torex Gold Resources Inc TXG.TO -9.2%
31 Barrick Gold Corporation ABX.TO -9.0%
32 Harmony Gold Mining Co. Ltd. HMY -9.0%
33 Lundin Mining Corporation LUN.TO -9.0%
34 Timmins Gold Corp TMM.TO -9.0%
35 Kazakhmys PLC KAZ.L -8.9%
36 Tahoe Resources Inc. THO.TO -8.8%
37 Goldcorp Inc. GG -8.7%
38 Capstone Mining Corp. CS.TO -8.6%
39 Syrah Resources Limited SYR.AX -8.5%
40 TNG Limited TNG.AX -8.5%
41 Metals X Limited MLX.AX -8.3%
42 Pan American Silver Corp. PAA.TO -8.1%
43 Silver Wheaton Corp. SLW.TO -8.1%
44 China Gold International Resources Corp Ltd CGG.TO -8.0%
45 Eldorado Gold Corp. ELD.TO -8.0%
46 HudBay Minerals, Inc. HBM.TO -8.0%
47 Nautilus Minerals Inc. NUS.TO -7.9%
48 Paladin Energy Ltd PDN.AX -7.9%
49 Perseus Mining Limited PRU.AX -7.9%
50 Primero Mining Corp. PPP -7.9%
51 Alamos Gold Inc. AGI.TO -7.7%
52 B2Gold Corp. BTO.TO -7.7%
53 First Majestic Silver Corp. FR.TO -7.7%
54 Independence Group NL IGO.AX -7.6%
55 Teck Resources Limited TCK-B.TO -7.5%
56 NovaGold Resources Inc. NG.TO -7.4%
57 PH&N US Multi-Style All-Cap Equity Sr C P.TO -7.4%
58 Sirius Resources NL SIR.AX -7.4%
59 Royal Gold, Inc. RGL.TO -7.3%
60 Energy Fuels Inc. EFR.TO -7.2%
61 Ivanhoe Mines Ltd IVN.TO -7.1%
62 Asanko Gold Inc. AKG.TO -7.0%
63 OceanaGold Corporation OGC.TO -7.0%
64 Resolute Mining Limited RSG.AX -7.0%
65 Newmont Mining Corp. NEM -6.9%
66 Rio Tinto PLC RIO.L -6.9%
67 Romarco Minerals Inc. R.TO -6.9%
68 CONSOL Energy Inc. CNX -6.8%
69 Imperial Metals Corp. III.TO -6.8%
70 Suncoke Energy Partners L.P. SXCP -6.8%
71 Western Areas NL WSA.AX -6.8%
72 Gem Diamonds Limited GEMD.L -6.3%
73 SEMAFO Inc. SMF.TO -6.2%
74 Silver Standard Resources Inc. SSO.TO -6.2%
75 Hochschild Mining PLC HOC.L -6.1%
76 Mineral Resources Ltd MIN.AX -6.0%
77 OZ Minerals Limited OZL.AX -6.0%
78 Katanga Mining Ltd. KAT.TO -5.9%
79 Petropavlovsk PLC POG.L -5.9%
80 Asanko Gold Inc AKG -5.8%
81 Dundee Precious Metals Inc. DPM.TO -5.7%
82 Aquarius Platinum Limited AQP.AX -5.6%
83 Natural Resource Partners LP NRP -5.6%
84 Richmont Mines Inc. RIC.TO -5.6%
85 Fresnillo PLC FRES.L -5.5%
86 Altius Minerals Corp. ALS.TO -5.4%
87 Cameco Corp. CCO.TO -5.4%
88 Seabridge Gold, Inc. SEA.TO -5.4%
89 Antofagasta PLC ANTO.L -5.3%
90 Gold Road Resources Limited GOR.AX -5.3%
91 Franco-Nevada Corporation FNV.TO -5.2%
92 Iluka Resources Ltd. ILU.AX -5.2%
93 Lake Shore Gold Corp. LSG.TO -5.2%
94 New Hope Corporation Limited NHC.AX -5.2%
95 Rubicon Minerals Corporation RMX.TO -5.1%
96 Agnico-Eagle Mines Ltd. AEM.TO -5.0%
97 Pretium Resources Inc. PVG.TO -4.6%
98 Centamin PLC CEE.TO -4.6%
99 Alacer Gold Corp ASR.TO -4.3%
100 Turquoise Hill Resources Ltd. TRQ.TO -4.3%

This article appears courtesy of Mine Web. To read more daily international and financial mining news and information, click here.

The Encoder Challenge- How to Improve Spare Parts Management in Mining

Mining has entered a new age, and is evolving from the man driven mine to the machine driven mine.

Many are predicting that the mining industry will become totally automated, and sites of the future will simply be made of autonomous trucks and machinery, operating without human control, only occasionally serviced and maintained by workers to keep them in peak form.

The machine, not the person, will be running the mine.

It will become a matter of artificial intelligence mixed with remote operating centres controlling vehicles traversing all over the site without a human to be seen apart from in the workshops; and maybe not even there as process control instrumentation and communications technology moves ahead.

While the industry has not yet reached this point, it has now entered the phase of early pit to port automation, but even this is not an easy change as the rise of the smart mine means that miners need smarter equipment to accomplish their goals.

Automated process and machinery means precision and accuracy is now the focus for many operators as they implement Big Data processes that allow for predictive practices such as maintenance and upgrades.

However ensuring that the repeatability in these processes is correct is crucial, and encoders are helping miners achieve this critical role.

Encoders and inclinometers are an important part of any production in chain, across a number of different processes, acting as feedback transducers for motor speed control, sensors for measuring, cutting and positioning, and as input for speed and rate controls while inclinometers are used for levelling in important processes such as during lifting procedures – to tell crane booms when they need to be adjusted for load or level – and in earth moving operations to ensure cutting and grading is flat and level.

But as the mine itself develops, so too does the technology, and miners need to upgrade as they progress to stay ahead of the competition.

But not all machinery is made to the same standard, and cheap overseas imports can cost operations more than they are worth.

Though by importing you may have saved money on the initial outlay of your spare part/equipment, the import quality and longer delivery times can end up costing your business more in downtimes and lost productivity.

PCA Australia has been providing encoders and inclinometers for more than half a century, and understands the mining industry’s need for speedy replacements and shipment, and are able to ship most common encoder products within Australia, and even models no longer manufactured can be built in a 24 hour time frame to service the customer.

To find out more about top quality encoders for mining, click here to download a free whitepaper from PCA Australia.

Barrick sees management shake up

Barrick Gold has carried out a number of changes to its management structure, putting Kelvin Dushinisky in sole charge of the business.

Dushinisky, formerly the co-president, will now take the role of president, while the other co-president Jim Gowans will act as a senior advisor to chairman John Thornton until Gowans retires at the end of the year.

Former chief of staff Richard Williams has been appointed as the new COO, reporting to Dushinisky, while Basie Maree – the senior vice president, technical services – is now the chief technical officer.

Dushinisky now leads the company, with overall responsibility for the business’ “strategic priorities with a focus on improving productivity and driving down costs”, whereas Williams will head the day-to-day implementation of these decisions.

According to Barrick: “They are charged with driving the organisation to reach our target of $2 billion in reduced expenditures across the company by the end of 2016.”

As we become leaner, more efficient and more keenly focused on a smaller number of core assets,” Barrick chairman John Thornton said.

“Jim Gowans has trained and mentored our mine managers in this mindset for over a year and a half, preparing them to take on more responsibility and accountability.

“As we work to accelerate Barrick’s return to the lean, decentralised model that drove the company’s early success, the time is right to put a structure in place that supports this vision,” he said.

As president, Kelvin will ensure the entire company remains focused on our primary objective, maximising free cash flow per share from a portfolio of high-quality gold assets in our core regions; as chief operating officer, Richard will drive organisational efficiencies, with a focus on enabling our mine managers to deliver on our business objectives; Basie will provide strategic technical advice and support to the operations, ensuring our mine managers have the information and tools they need to realise the full potential of each mine.