Aveng Mining

Aveng offers services across the mining value chain, from turnkey solutions in shaft sinking, underground development and contract mining for surface and underground mining, to construction of mine infrastructure. These activities span a broad range of commodities and the company has extensive experience in remote and difficult locations.

Aveng Mining responded decisively to the challenges in its operating environment, reducing its cost base by merging its two business units and awarding discounts to reduce project costs, while maintaining client relationships and intensifying efficiency improvements to mitigate the consequent erosion of profit margins.

2016 salient features

  • 2016 was characterised by contract cancellations and price reductions
  • Swift response:
    • Reduced contract costs
    • Reduced overhead costs
    • Restructured and fully integrated the two businesses
  • Reasonable financial performance in difficult markets
  • Positive cash flow for the year
  • Idle equipment ratio increased
  • Successfully completed the Chile contract. Claims settled and shaft bottom reached ahead of revised plan
  • Continuing contractual and commercial discussions regarding Wesizwe’s Bakubung Platinum Mine
  • Strong operational performance on most contracts
  • New project awards:
    • Taparko Mine, Burkina Faso
    • Khutala Colliery Mine, South Africa
    • Lefa Mine, Guinea
  • Tumelo shaft operations achieved 4,6 years LTI-free
  • Sadiola mine project achieved over 5,6 million hours LTI-free

Geographic Footprint

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For more information on the operation go to www.avengmining.co.za

For more on performance view the Integrated Report 2016