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by overstretched mining houses, from jun- iors to the majors. The price environment wasn't the only factor driving private equity's interest, said Morne van der Merwe, a partner in the Johannesburg office of Baker & McKenzie. In previous years, PE had been hesitant to enter mining because of a lack of the spe- cialist skills needed by the projects. Now, the bloodletting across the industry meant even seasoned miners were in need of a new home and investment firms were happy to give them one. "It might be something like a PE firm interested in a junior developing a project in Namibia; the company would seek to hire a geologist with experience of that par- ticular ore body," van der Merwe said. Managerial expertise from within the min- ing community would also be employed, to take command of new acquisitions. Blunt added that PE firms would build management teams to handle the different aspects of an acquisition. For instance, one group would handle the initial evaluation of a project; another would take over running the mine, while another would take care of its disposal. Each team would move on to a new project when its phase was over. Equipment and Technology As usual, the Indaba was a platform for tech- nical companies to launch new products. This year, South Africa-based Master Drilling showed their concept 600-ton monster blind borer to sink shafts up to 2 km deep in one continuous process. This system is essen- tially a tunnel borer turned on its side. "Conventional shaft sinking is a skills intensive process with up to 200 people on a crew," Master Drilling CEO Danie Pretorius said. "These guys are getting thin on the ground." Instead, fewer than 40 people would be needed for the as yet unnamed concept machine, vastly improv- ing safety during shaft sinking. It would also sink a shaft roughly twice as fast as conventional shaft sinking. A model drawn up by engineering consult- ants WorleyParsons on a case study gold mine showed the blind borer would sink a shaft in 18 months, instead of three years by conventional means. The system would lay down concentric rings of concrete to stabilize the shaft as it descended, which meant that work could begin on opening up levels, even as sinking continued. The initial concept is for a 10- m-diameter shaft, bigger than most miners would like. Usually, narrower shafts are built to save money. Pretorius pointed out that the cost saved in time would easily cover the extra tonnage removed. And, it could also open the way for delivering large machinery underground. One of the impediments to mechanization has always been the inabil- ity to get large equipment underground. Pretorius added that the first working prototype would be ready by 2018. He expected it to cost around 800 million rand, or $50 million at current exchange rates. One of the quirkier products being tout- ed at Indaba was undoubtedly U.S. defense contractor Lockheed Martin's hybrid airship. The company, which builds hi-tech weapons systems, hopes to interest the mining indus- try in its proposal to haul men, equipment and ore around the African continent. "It will land on water, sand, a field, even ice," said Rob Binns, CEO of Hybrid Airships, while manning a booth in the Indaba's display area. The prototype had already proven itself in Alaska, in the wildest of conditions. "This is a dedicated cargo carrier, so it's built with moving material and equipment in mind." The first airship will be complet- ed in 2018, and plans are under way for a 90-ton lift model, which would have simi- lar lifting capacity to a cargo-configured Boeing 747. Eventually, a 500-ton lift model will be built, which would put it in the same category as a cargo ship. Logistics has always been a major impediment to African mining, which must often build roads and even ports to move product. This airship won't require more than a patch of dirt to land, Binns said. "It will lower the logistics costs substan- tially, to the point where projects that are now under the radar because of cost, become viable," Binns said. Miners though are a skeptical bunch and a few visitors visiting the stall seemed doubtful. However, Binns point- ed out this scheme is being developed by the same company building the F-35 fighter, the world's most advanced aircraft. "Essentially Lockheed has taken the same technology they are putting into the F-35, and applied it to the problem of mov- ing cargo around quickly and cheaply. The flight control system is basically straight out of the F-35, which will be used to plot course, navigate and fly." It will use helium for lift, but not entire- ly. The wing-shaped balloon will provide some lift during forward momentum sup- plied by four V6 diesel engines. Without movement it will sink gently to the ground. Best of all, said Binns, it will also allow transporters to avoid border posts and checkpoints, the bane of African truckers. Although reception to the idea was one of bemusement, Binns said the Indaba had been worthwhile. "This is only our second mining event, but we've found it extremely useful to get our idea out there. We'll defi- nitely be back next year." 48 E&MJ; • MARCH 2016 www.e-mj.com M I N I N G I N D A B A 2 0 1 6 Lockheed Martin hopes to build a cargo hauling air ship capable of 20 tons, and as much as 500 tons in the future. During post-conference cocktails, delegates unwind and compare notes. (Photo: Gavin du Venage)