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Codelco says Chuquicamata copper mine operational again

By: Reuters     Updated 20 minutes ago Codelco's Chuquicamata copper mine returned to normal operations on Tuesday afternoon after a contract workers' strike caused a halt earlier in the day, the company said in a statement. All projects except the small Salvador mine were operational, although there had been "various difficulties"... 

Peabody shares rally despite missing earnings forecast, suspending dividend

By: Henry Lazenby     Updated 25 minutes ago Extended low-cycle conditions had prompted American coal producer Peabody Energy on Tuesday to suspend the quarterly dividend on its common stock, curtail metallurgical coal output and cut jobs as it turned to aggressive cost-cutting measures in order to survive market headwinds. Peabody was... 

Peabody shares rally despite missing earnings forecast, suspending dividend

Consol Energy halts steelmaking coal IPO as low coal, oil prices dent Q2 earnings

By: Henry Lazenby     Updated 1 hour 12 minutes ago US oil, gas and coal producer Consol Energy on Tuesday announced that it would put the planned initial public offering (IPO) of its metallurgical coal business on hold, citing the continued degradation of metallurgical coal prices. The MetCo IPO of up to 20% of the subsidiary's equity was... 

Mozambique coal: boom to bust to wait it out

By: Reuters     Updated 6 hours ago Mozambique's coal rush is officially over and the government is now looking offshore to a gas bonanza, according to analysts at a coal conference this week in the capital Maputo. Just a few years ago, billions of dollars poured into Mozambique, one of the world's poorest nations, in a twin... 

Eskom says open to coal imports for new power stations

By: Reuters South African power utility Eskom is open to importing coal for plants it still plans to commission, a coal conference heard on Tuesday. Willem Theron, business development manager of Eskom's southern Africa transmission group, said the state-run utility planned to install an additional 6 250 MW... 

Eskom says open to coal imports for new power stations

Despite weakest demand since 2009, GFMS raises 2015 gold price forecast slightly

By: Terence Creamer Amid the prevailing gloom about prospects for the gold price, the latest GFMS Gold Survey forecasts an average price of $1 135/oz for the third quarter of 2015, which it also describes as “the nadir”, before a recovery to an average price of $1 175/oz for the fourth quarter. The second quarter... 

Despite weakest demand since 2009, GFMS raises 2015 gold price forecast slightly

AECI H1 earnings rise 45% on bulk property sale

By: Megan van Wyngaardt Explosives and specialty chemicals company AECI’s R400-million bulk property sale, in Somerset West, paired with a maintained market share, despite a difficult environment, pushed its headline earnings for the six months to June 30, up 45% to R632-million, compared with R436-million in the first... 

AECI H1 earnings rise 45% on bulk property sale
Photo by Duane Daws
AECI CEO Mark Dytor

CoM, Village Main Reef reach wage agreement

By: Megan van Wyngaardt The Chamber of Mines (CoM) has concluded a wage agreement with the representative unions at JSE-listed Village Main Reef’s gold mining operations. The two-year agreement allowed for increases of R1 000 and R800 for Category 4 to 8 underground and surface employees respectively, and increases of... 

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