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Yahoo
09-03-2025
- Business
- Yahoo
Inspiring women in mining: Louise Porteus of Thor Explorations
Louise Porteus is an environment and social manager at Thor Explorations, which owns the Segilola gold mine in south-west Nigeria. She has been working at Thor for the past eight years after a colourful career in mining, energy, infrastructure and urban development projects in more than 50 countries. Having faced what she terms 'bottlenecks or blocking' during her career, Porteus now champions diversity through her work, which contributed to Thor winning an environmental, social and governance (ESG) award for labour at Mining Indaba last year. She also made the 2024 list of 100 Global Inspirational Women in Mining, a biennial publication put together by advocacy group Women in Mining. Ahead of International Women's Day, Mining Technology asks Porteus to share her career highlights, key achievements and tips for women navigating a career in the sector. We also seek her perspective on the evolving gender diversity landscape in mining, particularly in Africa. 'I chose my original career in town planning in Australia in the early 1980s as I enjoyed geography and history at school,' Porteus tells Mining Technology. She started out working in local government, assessing local and regional environmental plans, before moving to the UK for a similar role. In 1991–92, Porteus took an opportunity to lead scientific diving expeditions in Belize to support the establishment of a marine reserve for a non-governmental organisation. 'That got me thinking about working in developing countries and the social interaction between environment and livelihoods,' she says. After another stint back home, Porteus returned to the UK to complete a master's in development planning, graduating from University College London in 1996. She then transitioned to roles with British engineering companies where she could contribute socio-environmental expertise to large projects. However, after a decade working on World Bank, Asian Development and Caribbean Development Bank infrastructure and urban development initiatives, Porteus saw that 'very little actual development or impacts were realised into the poor communities such projects were aimed to help'. So, when the opportunity came to join Thor in 2017, she 'grabbed it with open arms'. Today, Porteus' role is diverse. Working for a small entrepreneurial mining company, rather than a bigger organisation – which she says are often 'a bit bureaucratic and very male dominated' – has enabled her to carve out a space for women and champion diversity. 'One thing I am keen to do is to get over the silos that can exist in mining,' she says. Taking the Segilola gold project from concept design to operation within five years is something Porteus describes as 'one of her greatest achievements'. Segilola, which has an estimated resource of 517,800oz, started operating towards the end of 2021. The mine produced 98,000oz of gold in 2022, 84,500oz in 2023 and 85,000oz of gold in 2024. Porteus has been instrumental in supporting diversity at Segilola, which the company claims is Nigeria's 'first and only large-scale commercial gold mine'. 'A couple years ago… I visited Endeavour Sabodala-Massawa mine near one of our exploration licences in Senegal, where all the truck drivers are women,' says Porteus. 'They found there are [fewer] accidents, that the trucks are better maintained and that they are not driven [as] fast, etc.' The trip prompted Thor to launch a programme at its Segilola mine in Nigeria, which necessitated building new accommodation and setting up training for female workers. The company started out with 8% women in its workforce; Porteus has an ESG target to reach 12% of women in Thor's workforce by 2025, which she hopes to surpass. 'It is not just about getting women to be at meetings,' Porteus says, although this is something she encourages as the only female member of Thor's executive committee. 'Women can do lots of things on mine sites. We now have female geologists, accountants, truck drivers, etc.' She adds that 'it is particularly important for the host communities around our site that they can see there are roles for them'. Porteus' role also involved finalising community development agreements for the Segilola mine (which set out the benefit of the project to the host communities and are a legal requirement in Nigeria). This was an 18-month process that took place prior to construction. Today, the vast majority – 98% of those employed – at Segilola are Nigerian nationals, with 37% recruited from local communities. 'Host communities have benefitted from scholarships to enable children from vulnerable households to stay in school, annual women and youth initiatives, and the rebuilding of schools and community buildings,' says Porteus. These initiatives are also helping to reshape perceptions of the mining industry in Nigeria, with women, cultural leaders and communities directly benefitting from their success. 'I see this as a very important role in my career,' she says. 'What I am doing at the moment [is] to make sure that that communal thinking happens; I can see the change.' Porteus' main inspiration is her grandfather, who left school at 14 to work in a horse stable at a coal mine. He eventually graduated from a technical college and progressed up the ranks to become a deputy mine manager. 'I have taken lessons from his life into developing countries where I work – to ensure that within mining projects we can move local workers from low-skilled to semi-skilled and beyond,' she says. Seeking technical training to ensure upskilling is key, according to Porteus, as 'even where literacy and numeracy skills may be low, ingenuity is high'. Porteus' career, which she describes as 'a labyrinth rather than a ladder', has not been easy. 'Some of the biggest challenges I have faced in my career have been smashing the glass ceilings in companies,' she says. This has included tackling discrimination on promotion and equal pay, as well as battling to attain a place at the decision-making table – and being listened to once at that table. 'I think things [with gender discrimination] have changed [for the better] a lot,' she muses, but – of course – there is still more that can be done. The barriers women continue to face in the mining industry range from safety concerns, such as bullying and gender-based harassment, to discriminatory treatment, pay gaps and lack of support or adequate facilities. However, the industry is making concerted efforts to address these with initiatives that foster inclusion in the workplace and by advocating for sustainable practices and knowledge sharing. Today, Porteus spends much of her time advocating for women in senior roles and giving them the confidence to speak up and be heard. 'I have been very much part of that decision-making, and I think that has been an important role in my career, but I also think it is an important role that women need to take in their careers, and particularly in mining,' she reflects. 'Some decisions I made during my career have helped me get to where I am now, on the executive committee and as a manager in a company with a West Africa reach.' Her road to success involved taking initiative and risks which, at times, required putting herself in unfamiliar positions. 'I did insist that I go overseas. I was the only woman on the team sometimes and [had to] deliver and be comfortable in different cultures,' she says. Her advice for those working in industry? 'Don't let your own perceptions limit what you can do. Don't be afraid to think bigger. 'Sometimes that job [you want] might not happen straight away but put yourself in a position where you can get that.' "Inspiring women in mining: Louise Porteus of Thor Explorations" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
20-02-2025
- Business
- Yahoo
Fact Check: No evidence South Africa has banned all US businesses and stopped mineral exports
Claim: In February 2025, the government of South Africa announced that all U.S.-based businesses were banned from operating in the country and that the African nation was halting all mining exports to the United States. Rating: In mid-February 2025, posts on social media sites like Facebook (archived here) alleged that the nation of South Africa had announced a ban on all United States-based businesses there and was halting all mining exports to the U.S. The supposed ban was announced days after U.S. President Donald Trump released an executive order banning foreign aid to the nation in response to the country's recently passed Expropriation Act, which Trump's order described as a "shocking disregard of its citizens' rights." If the claim were true, the South African government would need to issue some kind of public announcement in order to enforce the supposed ban. That had not happened, and there was no other evidence suggesting that such a ban on American businesses had been enacted. We therefore rate the claim as false. The claim likely originated from comments made by South Africa's Minister of Mineral and Petroleum Resources Gwede Mantashe on Feb. 3, 2025, at the 2025 Mining Indaba conference. According to a news release from Mining Indaba, Mantashe did propose that the country stop exporting minerals to the United States in response to Trump's threats to withhold funding: "They want to withhold funding, but they still want our minerals," he said. "Let's withhold minerals. Africa needs to assert its advantage and take charge of the growing demand." This set of comments came in response to the passage of the Expropriation Act, which critics alleged would allow the South African government to seize private property without compensation in particular circumstances. The following section of the law lays out those circumstances: (3) It may be just and equitable for nil compensation to be paid where land is expropriated in the public interest, having regard to all relevant circumstances, including but not limited to—(a) where the land is not being used and the owner's main purpose is not to develop the land or use it to generate income, but to benefit from appreciation of its market value;(b) where an organ of state holds land that it is not using for its core functions and is not reasonably likely to require the land for its future activities in that regard, and the organ of state acquired the land for no consideration;(c) notwithstanding registration of ownership in terms of the Deeds Registries Act, 1937 (Act No. 47 of 1937), where an owner has abandoned the land by failing to exercise control over it despite being reasonably capable of doingso;(d) where the market value of the land is equivalent to, or less than, the present value of direct state investment or subsidy in the acquisition and beneficial capital improvement of the land. According to a 2017 report from the South African government, white people own over 70% of farmland in the country, despite only making up 7% of the population. U.S. Department of Government Efficiency (DOGE) head Elon Musk, who was born in South Africa under apartheid and is a member of Trump's inner circle, called the Expropriation Act "openly racist" in a reply to South African President Cyril Ramaphosa on Musk's social media site, X. Trump posted a similar claim to social media in 2018, alleging that the South African government was allowing and abetting "large scale killing of farmers." Snopes checked that claim at the time and found it was false. Trump's Feb. 7, 2025, executive order did provide rationale for why he was suspending aid to the country, which largely goes to HIV/AIDS prevention. In shocking disregard of its citizens' rights, the Republic of South Africa (South Africa) recently enacted Expropriation Act 13 of 2024 (Act), to enable the government of South Africa to seize ethnic minority Afrikaners' agricultural property without compensation. This Act follows countless government policies designed to dismantle equal opportunity in employment, education, and business, and hateful rhetoric and government actions fueling disproportionate violence against racially disfavored landowners. In addition, South Africa has taken aggressive positions towards the United States and its allies, including accusing Israel, not Hamas, of genocide in the International Court of Justice, and reinvigorating its relations with Iran to develop commercial, military, and nuclear arrangements. The United States cannot support the government of South Africa's commission of rights violations in its country or its undermining United States foreign policy, which poses national security threats to our Nation, our allies, our African partners, and our interests. The executive order also listed South Africa's lawsuit in the International Court of Justice, which accuses Israel of committing genocide against the Palestinian people, as a reason for withholding aid. "Addressing Egregious Actions of The Republic of South Africa." The White House, 8 Feb. 2025, Africa Must Stand Together to Unlock Full Value of Its Minerals for Its People | Mining Indaba. Accessed 19 Feb. 2025. Amendment of Section 25 of the Constitution - Parliament of South Africa. Accessed 19 Feb. 2025. Davis, Rebecca. "EXPLAINER: What the Expropriation Bill Means for South Africa." Daily Maverick, 24 Jan. 2025, Expropriation Act of 2024. Government of South Africa, 24 Jan. 2025, Land Audit Report 2017. Version 2, Government of South Africa, Levitt, Michael. "What Trump's Freeze in Federal Funding Means for the Global Fight against AIDS." NPR, 18 Feb. 2025. NPR, Mackintosh, Thomas. "Trump Signs Order Freezing Aid to South Africa over Land Law." BBC, 9 Feb. 2025, Palma, Bethania. "Is a 'Large-Scale Killing' of White Farmers Underway in South Africa?" Snopes, 24 Aug. 2018, People of South Africa | South African Government. Accessed 19 Feb. 2025. South Africa-Trump Land Row May Move from Aid to Trade. 13 Feb. 2025, Staff, Al Jazeera. "White Victimhood to G20: What's behind Trump's Attacks on South Africa?" Al Jazeera, Accessed 19 Feb. 2025. The Expropriation Bill [B23-2020] - Parliament of South Africa. Accessed 19 Feb. 2025. Trump-South Africa Land Row: President Ramaphosa Calls Elon Musk to Calm Tensions. 4 Feb. 2025, Walker, Cherryl. "Cutting through the Maze of Disinformation and Outright Lies around Land in SA." Daily Maverick, 17 Feb. 2025, What Is South Africa's Genocide Case against Israel at the ICJ? 10 Jan. 2024. "What South Africa's New Land Act Really Says." Good Authority, Accessed 19 Feb. 2025.
Reuters
06-02-2025
- Business
- Reuters
Vedanta aims to raise $1 bln via debt to fund Zambian copper mines
CAPE TOWN, Feb 6 (Reuters) - Vedanta Resources is trying to raise around $1 billion in debt financing to fund development of its Konkola Copper Mines (KCM) in Zambia, Chris Griffith, head of the company's base metals unit, said. The Indian company, which owns 80% of KCM, said last year it planned to sell at least 30% of its holding in the copper mines. But Griffith said selling a stake looked less likely. "We are in a much higher likelihood that we can raise the funds from a range of financing options," Griffith told Reuters on the sidelines of the Mining Indaba conference in Cape Town. "We own 80% of the business and clearly we'd prefer to continue owning 80% of the business." Vedanta, owned by Indian billionaire Anil Agarwal, is weighing various debt fund raising options, Griffith said without specifying details. It wants the $1 billion in funding to boost copper output at KCM to about 300,000 metric tons per year over the next five years. Vedanta regained control of the assets in 2024 after a five-year tussle to recover the copper mines and smelter that the government of former Zambian president Edgar Lungu had seized. The former administration accused Vedanta of failing to invest to expand copper production. The Zambian government owns the remaining 20% stake in KCM through state investment firm ZCCM-IH ( opens new tab. United Arab Emirates firm International Resources Holding last year withdrew an offer to buy Vedanta's 51% stake in the copper mines, citing differences in valuation of the assets. Since then, Vedanta's debt position has improved after it refinanced its bonds and this might help the company to raise more cash internally alongside external debt options, Griffith said. He said it had secured short-term financing to pay outstanding debts.
Reuters
05-02-2025
- Business
- Reuters
Anglo Platinum CEO sees investor interest ahead of spinoff
CAPE TOWN, Feb 5 (Reuters) - Anglo American Platinum (AMSJ.J), opens new tab is seeing a high level of investor interest in the business as it prepares to spin off as an independent entity from its parent Anglo American (AAL.L), opens new tab, Amplats CEO Craig Miller said on Wednesday. The spinoff is part of the group's restructuring strategy, aimed at fighting off a $49 billion takeover bid from bigger rival BHP ( opens new tab to focus on more profitable copper and iron ore assets. Amplats is due to be separated by mid-year, which will also result in the company changing its name, Miller said, without giving details. With a secondary listing in London, Amplats will be the only PGMs (Platinum Group Metals) producer on the bourse, possibly appealing to new investors, he added. "There is a lot of interest in that (the standalone business)," Miller told Reuters on the sidelines of the Mining Indaba conference in Cape town. "(London) is a lot easier... It might just be more attractive for certain fund managers to invest via the London Stock Exchange." Prices of the white metals used primarily in autocatalysts have slid in the past two years , with demand hit by the rise of battery electric vehicles, which don't require them. As part of its strategic overhaul, Anglo American sold its coal assets and is in the process of selling its nickel business in Brazil. It also plans to divest its De Beers diamond unit. South Africa's platinum miners, among the country's largest foreign currency earners, employ around 170,000 workers, but the industry has cut production and shed thousands of jobs in response to lower demand. Amplats, the biggest platinum miner by value, said recent dialled-down demand for electric vehicles could help boost interest in the metal. "There is a lot of interest in PGMs because of the role they play in transportation, be that in hybrids, and potentially in the future, in the next decade, around hydrogen," Miller said. He added that lack of investment into new platinum mines could limit supply, lending support to prices. "There's no significant new supply of PGMs coming to the market," Miller said.
Yahoo
05-02-2025
- Business
- Yahoo
Why the world's biggest mining project is looking to invest in education
The world's largest mining project will begin production by the end of the year, Guinea's mining minister told Semafor, after decades of delays — with 5% of eventual revenues earmarked to expand the country's education system. Initial shipments from the Simandou mountain range in southeast Guinea — home to the planet's largest high-grade iron ore deposits — are due to begin by the first quarter of 2026, Minister of Mines and Geology Bouna Sylla said on the sidelines of the Mining Indaba conference in Cape Town. The ambition to boost Guinean education with mining profits is the latest attempt to project how Africa stands to benefit from its natural resources, which are otherwise typically shipped elsewhere for refining: Sylla likened his government's plans to those rolled out in previous generations by Southeast Asian nations, singling out Singapore in his comparison. The British-Australian mining giant Rio Tinto and China's Baowu Steel are among the companies that have partnered with the Guinean government on the $15 billion project. Guinea's plan to earmark revenues from its natural resources marks an acknowledgment of the skills gap — particularly around science and technology — that is holding back economic development in many African countries. Guinea, for example, currently only spends 2% of its GDP on education, barely half the global average, and well below the 3.5% typical of sub-Saharan African nations. That could be about to change as part of a broader trend. About 30% of global mineral reserves can be found in Africa, and politicians from across the continent say they want this wealth to improve their citizens' lives, avoiding the experience of previous governments in the scramble for the region's resources. Countries are adopting different approaches: Ghana wants to use its iron ore deposits — which are of a lower grade than Guinea's — to boost local building construction. Elsewhere in West Africa, the aim is simply to redress the balance with international companies in revenue-sharing agreements. In Guinea's case, Sylla said 5% of the tax revenues generated at each of the two mines at the Simandou site would be allocated to Guinea's education system, over the next 25 years, starting from the launch of production — funding that would come on top of the usual education budgetary allowance. Under a separate program, the government plans to allocate 20% of state revenue earned from La Compagnie du TransGuinéen (CTG) — a joint venture that manages railway and port infrastructure built as part of the Simandou project — to fund high school students studying science and engineering abroad, also over 25 years. Our 'long-term sustainable investment is in human capital,' Sylla told me. 'This is to invest in a new generation so that when the resources finish, people can come to Guinea to invest not because we have natural resources but human capital — technicians and engineers — like Singapore.' Still, all of this will take time. The Simandou project has been beset by nearly 30 years of delays, and Guinea's education program will take at least a generation to bear fruit. The government hopes its plans will show all of this has been worth the wait. Sylla said 120 million tonnes of iron ore — used in steel production — will eventually be produced annually from Simandou, but it will take up to three years to ramp up to this capacity. He also said Guinea aims to transform iron ore to steel in a local plant that will produce 500,000 tonnes of steel per year. In the bauxite sector, the minister said Guinea will produce alumina and then aluminium. Guinea signed an agreement last month with a Chinese company to produce 1.2 million tonnes per year of alumina that he said is expected to be ready by the end of 2027. Gracelin Baskaran, director of the critical minerals security program at the Washington-based Center for Strategic and International Studies, said production at Simandou 'will give Guinea a lot of value in the world of commercial diplomacy because we want more iron ore that's not going to China.' But she said the climate skepticism of the new Trump administration meant Simandou's high- grade iron ore — which results in lower carbon emissions in the steelmaking process as a result of its higher quality — will enter a 'bifurcated' market. 'You have the EU, where decarbonization is important,' and 'America, where that is not important right now,' she said. 'When you sell to Europe, you can sell at a price premium because you're responsibly sourced. Nobody in America is going to pay that now.' Euronews examines why it took Rio Tinto to edge towards production at Simandou. South Africa's mining minister said the country should withhold access to its minerals after the US president threatened to withdraw funding over a new land law.
