How is Maxam managing the increased cost pressures?

As we import our raw materials from Europe and other parts of the world, we are directly impacted by the rising costs of logistics, freight forwarding, and fuel for transportation. Additionally, we have made changes in our supply chain as we used to source some raw materials from Russia. As a partner to the mining industry, Maxam is dedicated to optimizing transport and sourcing costs while reducing the need for imports. This allows us to offer competitive prices and generate savings for our customers.

What are the key demand trends you observe in the region?

We have observed significant growth in countries with established mining sectors and multiple operational gold mines, such as Ghana, Mali, and Burkina Faso. However, challenges related to security and political instability have somewhat slowed the growth pace in Mali and Burkina Faso. On the other hand, Ivory Coast is increasingly seen as a potential gold producer, and we are witnessing notable advancements in multiple mines within the country. In Mauritania and Guinea, the past few years have been relatively stable in terms of demand. Lastly, Zambia holds great potential for further developments, although the decline in copper prices may impact investment momentum.

What sets Maxam’s blasting technologies apart from competitors?

Maxam’s flagship product, Rioflex, offers 20-30% higher energy compared to standard base emulsion, depending on the type of rock. This higher energy results in a more intense explosion, reducing the number of holes that need to be drilled. This, in turn, allows our clients to achieve better results while using less explosive and conducting fewer drilling operations. Beyond these cost-saving benefits, Maxam’s products also generate downstream savings. Well-blasted material puts less pressure on equipment like shovels, diggers, and trucks. Additionally, during the crushing stage, a finer material obtained through blasting leads to energy savings. Maxam has developed a comprehensive framework to help clients achieve these savings and offers this holistic solution through Rioflex and other products in our portfolio. Furthermore, Rioflex has a chemical advantage as it can utilize any type of ammonia nitrate, providing superior flexibility and adaptability in varying conditions.

The X-Energy concept represents the full capabilities of Rioflex and is the most advanced technology for reducing operational costs and improving productivity through optimized energy consumption.

How is Maxam working to enhance safety?

Safety has always been our top priority, and our sites undergo regular audits. Recently, we have implemented a new safety structure in the region. To minimize risks associated with the transportation of our products, we have deployed smaller modular plants, reducing the need for long-distance movement of explosives. We actively collaborate with regulatory bodies to implement and develop the best safety practices.

Do you have a final message for our audience?

We take immense pride in the legacy we have built in Ghana over the past 28 years of operation. Maxam, as a company with 150 years of experience, continuously evolves by developing and operationalizing solutions that can truly make a difference. We remain committed to providing innovative products and services that meet the needs of our clients and contribute to the sustainable growth of the mining industry.