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StratMin offloads entire sub-94% graphite inventory

By: Natalie Greve     Updated 6 hours ago Aim-listed StratMin – London's only listed graphite mining and production company – has sold, in collaboration with its new offtake and joint venture partner Tirupati Carbons & Chemicals Group, its entire inventory of sub-94% carbon-in-graphite (CIG) finished product. This followed StatMin’s... 

Resources Watch

By: Creamer Media Reporter This week: Wescoal commits to black holding company control to qualify for Eskom’s business. A locally developed materials handling system ‘takes to the skies’. And, the coal price slide is hitting miners and rail group Transnet. 

Resources Watch

Universal cleared to recommission New Clydesdale

By: Esmarie Swanepoel South Africa-focused coal miner Universal Coal has been given clearance to start recommissioning work of its New Clydesdale colliery (NCC) after the transfer of ownership for the project was approved. Universal Coal in February last year acquired the NCC from South African coal major Exxaro... 

SouthGobi former CEO claims $1m in damages

By: Megan van Wyngaardt Dual-listed SouthGobi Resources’ former president and CEO Alexander Molyneux served the Mongolia-focused metallurgical and thermal coal miner with a notice of civil claim, filed in the British Columbia Supreme Court, it said on Thursday. The claim related to alleged breaches of Molyneux's... 

Mooiplaats sale agreement lapses

By: Creamer Media Reporter The sale and purchase agreement (SPA) for triple-listed Coal of Africa Limited’s (CoAL’s) sale of the Mooiplaats colliery to Blackspear Capital has lapsed. CoAL announced in September 2014 that it would sell the colliery, which had been placed on care and maintenance in October 2013, to... 

Glencore subsidiary Optimum to shut mines, shed 600 jobs

By: Natalie Greve After warning in January of the possible closure of several of its opencast coal operations, coal processing plants and associated support services, Glencore subsidiary Optimum Coal Mines on Thursday announced that it would proceed with the placing of some of its operations on care and... 

Glencore subsidiary Optimum to shut mines, shed 600 jobs

Work with govt to simplify mining policy – Rossouw

By: Martin Creamer The time had come for the private sector to start making it clear that it wished to work with government to simplify mining policy and collaborate towards less regulation and greater implementation. “Step up and get involved in providing meaningful information and honest comment,” thought leader... 

Work with govt to simplify mining policy – Rossouw
Photo by Duane Daws
Mike Rossouw

Edenville submits Rukwa mining licence application

By: Creamer Media Reporter Aim-listed coal mine and energy project developer Edenville Energy has submitted all elements of the mining licence application for its Rukwa coal project to the Tanzania Ministry of Energy and Minerals. The project had 171-million tons of coal in the measured and indicated categories, which the... 

Heatwave pushes up European coal prices

By: Reuters European coal prices rose over the past week as a heatwave buoyed power demand, while Australian prices were pulled down due to slower purchases by key Asian importers. Meteorological data in Thomson Reuters Eikon showed aggregate average temperatures in Germany, France, Austria and Switzerland... 

Government sells Vodacom stake to PIC to fund Eskom bailout

By: Terence Creamer The South African government confirmed on Wednesday that it had sold its 13.91% stake in telecoms group Vodacom to help finance a R23-billion capital injection into embattled State-owned electricity utility Eskom. The shares were sold to the Public Investment Corporation (PIC), acting on behalf... 

Government sells Vodacom stake to PIC to fund Eskom bailout
Photo by Duane Daws
Finance Minister Nhlanhla Nene

Creamer Media publishes Real Economy Insight: Coal 2015 brief

This ten-page brief is a synopsis of key developments in the coal industry over the past 12 months. It provides an overview of the global and South African coal markets and the role of coal in South Africa’s economy, with a particular focus on the role of coal in the generation of electricity. 

Creamer Media publishes Real Economy Insight: Coal 2015 brief

Outbid in copper, Mick Davis turns to coal to try for X2's first deal

By: Reuters X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bilateral talks to buy some of Rio Tinto's Australian coal assets, two sources with knowledge of the situation said on Tuesday. Davis, whose X2 fund has yet to clinch its first deal, is turning his... 

Polish mining gear maker Kopex going abroad to defy mining slump

By: Reuters Polish mining machinery maker Kopex is looking for contracts abroad, bracing for a fall in its 2015 net profit due to a crisis in the local coal sector, its chief executive said. Poland's coal mining giants, which have been Kopex's main clients for years, have minimised their investment spending... 

Hatfield Colliery closure speeds up UK exit from deep coal mining

By: Reuters Britain's Hatfield Colliery will stop producing coal with immediate effect after being unable to sell its coal following the sharp rise in the UK's carbon tax, Prospect union said on Tuesday. The closure of the employee-owned mine in South Yorkshire is 14 months earlier than expected. Around 500... 

South32 secures ICMM membership

By: Natasha Odendaal BHP Billiton spin-off South32 has successfully joined the International Council on Mining and Metals (ICMM), a move that is expected to deliver long-term benefits for the new globally diversified metals and mining company and its stakeholders. An independent expert review panel had recommended... 

Universal Coal expects significantly higher earnings

By: Creamer Media Reporter ASX-listed Universal Coal said on Tuesday it expected to report significantly higher half-year earnings, owing to improved operational performance and higher demand and sales volumes from its main customer. The company, which owns thermal coal assets in the Witbank coalfield of South Africa,... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok

By: Martin Creamer The time had come for government and business to find ways and means of working together to end South Africa’s current economic stagflation crisis, United Nations Commission for Africa (UNCA) mineral value chain lead consultant, anti-apartheid struggle veteran and former African National Congress... 

Urgent govt, business cooperation needed to end South Africa’s crisis – Turok
ANC MP Ben Turok

Rio Tinto to sell stakes in Zim diamond, coal assets

By: Creamer Media Reporter Diversified major Rio Tinto has sold a 78% stake in Murowa Diamonds and a 50% stake in Sengwa Colliery to RZ Murowa Holdings. Independent Zimbabwean mining company RioZim, which owned the balance of the two assets, would assume overall management of both assets. 

Moody's downgrades Peabody in light of ongoing decline in met coal

By: Tracy Hancock Moody's on Friday reported that it had downgraded the ratings of NYSE-listed coal company Peabody Energy Corporation, reflecting the ratings agency’s expectation of continued deterioration in the company's credit metrics, owing to the ongoing decline in the seaborne metallurgical (met) coal... 

CIL faces price increase restrictions as India govt seeks low electricity tariffs

By: Ajoy K Das The Indian government will leverage its majority stake in Coal India Limited (CIL) to keep coal prices low to ensure cheaper electricity tariffs. Having a majority representation on the CIL board, government-nominated directors would impress on the board the need to keep electricity tariffs low... 

Coal price slide hitting miners, rail group

By: Ilan Solomons The sharp decline in coal prices since 2011 has resulted in several mines becoming only marginally profitable, says State-owned logistics company Transnet group commercial GM Divyesh Kalan. The price of thermal coal was about R140/t in January 2011, compared with $62/t by the end of January this... 

Coal price slide hitting miners, rail group
COAL RAILWAY SYSTEM Export coal performance has shown an upwards trend, with rail export volumes of coal increasing from 62.6-million tons in the 2010/11 financial year to 76-million tons in the 2014/15 financial year

Glencore builds R75m school in Mpumalanga

By: Zandile Mavuso As part of its social and labour commitment to the Department of Mineral Resources, mining and marketing giant Glencore launched the Makause Combined School in Phola, near its coal operations in Mpumalanga, earlier this month. 

Glencore builds R75m school in Mpumalanga

Mozambique seeks to facilitate miners great and small

By: Keith Campbell Mozambican President Filipe Nyusi has urged the country’s informal miners to organise themselves into associations, to help them overcome the difficulties they face. He was addressing informal miners at Montepuez in Cabo Delgado province in the north of the country. Associations would also reduce... 

Project work worth $200bn to be available in Moz coal sector in next 20 years

By: Ilan Solomons Engineering design and project management consultancy company RSV ENCO Consulting strategic development executive Rowan Karstel says significant opportunities exist for companies to profit from Mozambique’s resource sector. “The province of Tete alone has inferred total coal reserves of about... 

Project work worth $200bn to be available in Moz coal sector in next 20 years
ROWAN KARSTEL One of the biggest challenges facing mining companies in Mozambique is ensuring that effective logistics programmes are put in place

Registration opens for August coal gasification conference

By: Zandile Mavuso Early registrations are open for delegates for the South African Underground Coal Gasification Association (SAUCGA) conference to take place on August 24 at the Graceland Hotel in Secunda in which the association aims to discuss the unlocking of unmineable coal reserves in Southern Africa. 

Kenya eyes domestic gas, coal for new power plants

By: Reuters Kenya aims to decide by the end of 2015 whether a gas discovery in the north of the country could fuel a power plant and wants to start using its own coal in about six years' time for a power station being built, a senior energy official said. Kenya, which has struggled to keep the country... 

Kenya eyes domestic gas, coal for new power plants

Exxaro expects steady H1 output, cuts FY capex

By: Natasha Odendaal JSE-listed Exxaro has maintained steady overall coal production during the first half of 2015; however, the diversified miner’s exposure to State-owned power utility Eskom, both as a supplier of steam coal and as an electricity consumer, has emerged as a material risk. In a first-half preclosing... 

Keaton lays criminal charge over massive coal theft, R56m impaired 

By: Martin Creamer Coal mining company Keaton Energy, which described as “disastrous” its performance in the three months to March 31, confirmed on Wednesday that one criminal charge had already been laid and several others were pending over the alleged theft of R24.7-million worth of coal from its troubled... 

Keaton lays criminal charge over massive coal theft, R56m impaired
Photo by Daune Daws
Mandi Glad

India to auction 10 coal blocks for unregulated industries

By: Ajoy K Das India’s Coal Ministry has finalised which ten coal blocks would be under the hammer in its third coal block auction. The Ministry initially aimed to put 20 blocks up for auction in the next round, but the identification of these blocks took longer than anticipated and as such it had decided to... 

QRC slams Climate Council report on future of Galilee basin coal

By: Ilan Solomons The Queensland Resources Council (QRC) on Wednesday criticised a recently released report by environmental group Climate Council, which pitched “gloom and doom” for the future of coal. The QRC said the report, entitled ‘Galilee basin – Unburnable Coal’ was short sighted in its analysis of the... 

QRC slams Climate Council report on future of Galilee basin coal
Photo by 350-Australia
Galilee Basin

Sentula narrows FY loss

By: Creamer Media Reporter Mining services provider Sentula Mining on Wednesday reported a marginal improvement in its headline loss a share to 41.3c for the financial year ended March 31, compared with a loss of 43.7c in the 2014 financial year. Its basic loss a share narrowed from 91.8c in 2014 to 50.5c in the year under... 

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