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Eskom says New Largo coal supply talks with Anglo back on track

By: Terence Creamer Electricity utility Eskom says it and Anglo American have concluded a Memorandum of Understanding (MoU) that maps out the process to be followed to enable the parties to conclude a final coal-supply contract for the Kusile power station, which is currently being build in the Mpumalanga province.... 

Dec Medupi Unit 6 sync deadline at risk, as unit interval plan comes into focus 

By: Terence Creamer Electricity utility Eskom has confirmed a likely further, albeit modest, slippage in the schedule for first synchronisation of Medupi Unit 6, which was scheduled for December 24, 2014. The delay is the latest in several to afflict the project, which has faced numerous technical problems and... 

Dec Medupi Unit 6 sync deadline at risk, as unit interval plan comes into focus
Photo by Eskom
Medupi project site

Operational, financial headwinds place Eskom in worst position in ‘living memory’

By: Terence Creamer State-owned electricity utility Eskom is forecasting a dramatic slump in profitability for the full-year to March 31, 2015, with CEO Tshediso Matona indicating that its profit is likely to fall to R500-million in 2014/15 from nearly R7.1-billion in 2013/14. Releasing interim results on Tuesday,... 

Operational, financial headwinds place Eskom in worst position in ‘living memory’
Photo by Duane Daws
Eskom CEO Tshediso Matona

India plans to increase number of coal blocks for maiden auction

By: Ajoy K Das In a bid to hasten the process of getting the coal sector back on the rails, the Indian government is considering increasing the number of coal blocks to be put up for the country’s maiden auction. Considering the demand from thermal power producers with projects stranded by lack of dry fuel... 

Glencore and Peabody join forces for 6Mt/y Australian coal mine

By: Esmarie Swanepoel Diversified miner Glencore has agreed to a 50:50 joint venture (JV) with US energy major Peabody Energy to develop a brownfield opencut coal mine between the existing United and Wambo mines, in New South Wales. The companies announced on Tuesday that the JV project was expected to start in... 

Glencore and Peabody join forces for 6Mt/y Australian coal mine

BHP Billiton signs R10bn aluminium supply deal with black consortium 

By: Martin Creamer The world’s biggest mining company BHP Billiton has agreed a R10-billion, five-year liquid metal supply contract with a black-controlled consortium in a transaction that gives the South African aluminium industry a shot in the arm. The diversified major, which is in the process of demerging its... 

BHP Billiton signs R10bn aluminium supply deal with black consortium
Photo by Duane Daws
Graham Kerr with Lucas Msimanga, Sizwe Khumalo, Zodwa Manase and David Austin

‘Undervalued’ Lemur to buy back shares

By: Natalie Greve Noting that it did not believe its current share price reflected the “strong” underlying cash position and value within the company’s assets, Lemur Resources has outlined plans to implement an on-market buyback for up to 10% of its issued capital over the next 12 months. The Sydney-listed company... 

First set of Rukwa coal sampling and testwork results positive

By: Leandi Kolver African coal explorer Edenville Energy on Monday announced positive results from the first set of detailed coal sampling and test work at its Rukwa coal project’s Namwele deposit, in western Tanzania, indicating that the deposit had the potential to provide significantly higher quality coal and a... 

BHP Billiton’s demerging Newco heading for May vote

By: Martin Creamer The demerging of a selection of BHP Billiton assets into a separate new company (Newco) was going according to plan and heading for a May vote, Newco CEO-elect Graham Kerr said on Monday. Responding to Mining Weekly Online during question time at a media conference on BHP Billiton selling its... 

BHP Billiton’s demerging Newco heading for May vote
Photo by Duane Daws
Graham Kerr with Lucas Msimanga and Sizwe Khumalo

Attila to sell 70% Kodiak stake to Magni

By: Esmarie Swanepoel Coal hopeful Attila Resources on Monday announced that it would sell its 70% interest in the Kodiak coking coal project, in the US, for $55.3-million to US-based Magni Resources. Attila revealed to shareholders that it had received a confidential, unsolicited expression of interest from Magni in... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

Creamer Media’s Coal 2014 report examines South Africa’s coal industry amid the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the market, as well as various issues... 

Creamer Media publishes Coal 2014: A review of South Africa's coal sector research report

Mines need to cut emissions and increase renewables – Corporate Knights

By: Simon Rees As the population of the planet doubles between now and 2050, the drive to cut carbon emissions will continue to gather pace. At a recent meeting between heads of state in China, the US announced its intention to reduce carbon emissions by 26% to 28% by 2025. China declared its emissions would... 

Mines need to cut emissions and increase renewables – Corporate Knights

Russia's Amaam North proves viable for Tigers Realm

By: Esmarie Swanepoel A bankable feasibility study (BFS) into ASX-listed Tigers Realm Coal’s Amaam North project, in Russia, has revealed that the project could be one of the lowest operating cost coking coal mines in the world. Based on a planned production of about one-million tonnes a year of coking coal, over an... 

Gujarat hopes for halt of Wollongong raising

By: Esmarie Swanepoel India’s Gujarat NRE India has appealed to the Australian Takeovers Panel to halt an entitlement offer of ASX-listed Wollongong Coal, which was launched earlier this month. At the start of November, Wollongong Coal announced its intention to raise up to A$66.68-million through an accelerated pro... 

Jameson weighs options over cancelled applications

By: Esmarie Swanepoel ASX-listed coal hopeful Jameson Resources told shareholders on Friday that it would "explore its options" after the British Columbia Ministry of Energy and Mines cancelled five of the company’s outstanding applications on the Dunlevy project area. Jameson said in a statement that the Chief Gold... 

Mozambique continues to attract coal miners, despite low market prices

By: Keith Campbell Two more companies have been granted coal mining concessions in the Tete province of Mozambique, despite the fall in global coal prices which have put the already operating mines in the province under pressure. The new concessions were granted to the Eurasian Natural Resources Corporation (better... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation

By: Creamer Media Reporter TSX- and HKSE-listed SouthGobi Resources is delaying payment to the China Investment Corporation (CIC) of about $8.1-million in cash – the November 2014 instalment of cash interest due on the secured convertible debenture it entered into with a wholly owned subsidiary of the CIC. As of Thursday,... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation
Ovoot Tolgoi

India announces draft rules for maiden auction of coal blocks

By: Ajoy K Das India’s Coal Ministry has released draft guidelines for the auction of 74 coal blocks to be completed within the next four months. The Coal Ministry document said that the government would conduct a two stage competitive bidding process for allocation of the coal blocks under the newly... 

India announces draft rules for maiden auction of coal blocks

Guildford closer to BNU production

By: Esmarie Swanepoel Takeover target Guildford Coal on Thursday told shareholders that its Baruun Noyon Uul (BNU) mine, in Mongolia, would start production following the successful completion of the trial batches of coal. Previously known as the North pit, BNU forms part of Guildford’s South Gobi project, and has a... 

Glencore wins interdict against NUM strike

By: Sapa Mining company Glencore won an interim interdict in the Labour Court on Wednesday against the National Union of Mineworkers conducting a secondary strike at its Optimum Coal mine. "Glencore will participate in the review process by the [Commission for Conciliation, Mediation and Arbitration] CCMA... 

Wescoal buys prospecting right adjacent to Khanyisa

By: Natasha Odendaal JSE-listed Wescoal has bolstered the life of its wholly owned subsidiary Wescoal Mining’s Khanyisa Phase 2 operations through the R4.6-million buyout of Catwalk Investments’ Sarie Marais prospecting right, in Mpumalanga. The purchase price was excluding value-added tax (VAT) and the deal included... 

Dividend-bound Keaton firming up new coal projects

By: Martin Creamer Coal-mining junior Keaton Energy, which invested R275-million in operations while boosting its cash position by 63% to R113.2-million in the six months to September 30, is firming up two new coal-mine projects that will nudge the JSE-listed company towards producing five-million tons of coal a... 

Dividend-bound Keaton firming up new coal projects
Photo by Duane Daws
Keaton CEO Mandi Glad

Rio Tinto’s Mt Thorley Warkworth extension endorsed for approval

By: Esmarie Swanepoel The New South Wales Department of Planning and Environment has endorsed mining giant Rio Tinto’s extension of its Mt Thorley Warkworth coal mine, subject to a number of stringent conditions. In June this year, Rio released a new planning application for the extension project, after the New South... 

Altura announces coal spin-off

By: Esmarie Swanepoel Diversified junior Altura Mining this week announced that it would spin-out its coal assets into a new Singapore-based vehicle, which would be separately listed on the Catalist platform. Altura currently owns one-third of the Delta coal mine, in East Kalimantan, as well as a 70% stake in the... 

Eskom UCG commercialisation date ‘slips’ amid permitting delays 

By: Leandi Kolver State-owned power utility Eskom was no longer targeting 2017 for the commercialisation of underground coal gasification (UCG) at its Majuba power station, in Mpumalanga, owing to delays in receiving regulatory approvals. The utility said in October last year that it would start work on a... 

Eskom UCG commercialisation date ‘slips’ amid permitting delays

India to align coal and CBM legal environment to attract private investors

By: Ajoy K Das The Indian government will align its mining and gas exploration legislation to facilitate the exploration and mining of coal and coalbed methane (CBM) by domestic and foreign investors. A senior official in the Coal Ministry said that various legislation relating to the coal and gas sectors... 

Indian government holds off on CIL restructuring

By: Ajoy K Das The Indian government would not initiate any immediate move towards restructuring Coal India Limited (CIL) to avoid jeopardising the transfer of coal blocks that were earlier cancelled by the Supreme Court. The Indian government mandated global consulting firm Deloitte in 2013 to undertake a... 

Queensland backs Adani rail plan, open to deals with Galilee miners

By: Esmarie Swanepoel Queensland Premier Campbell Newman on Monday announced that the state would invest in infrastructure projects to allow for the exploitation of resources. Newman said that the state government would work with resource companies to make strategic investments that could create up to 28 000 new... 

Flood, fatality hit Buffalo Coal Q2 output

By: Natasha Odendaal JSE-listed Buffalo Coal’s second-quarter coal output has been hit by flooding at one of its operations and a fatality at another. In the three months to September 30, the company’s operations delivered total run-of-mine (RoM) production of 377 000 t, a decline when compared with the 446 000 t... 

Glencore to idle Australian coal mines for three weeks

By: Esmarie Swanepoel Mining giant Glencore on Friday confirmed that it would implement production shut-downs across its Australian coal operations for a period of three weeks, starting in mid-December. The miner said that the shutdowns would result in a reduced output of some five-million tonnes from its Australian... 

Glencore to idle Australian coal mines for three weeks

Share issue, drawdown likely to dent Keaton’s H1 earnings

By: Natalie Greve Coal producer Keaton Energy expects headline earnings a share for the six months ended September 30 to drop by between 27% and 32% from the prior quarter’s 19.4c to between 13.2c and 14.2c apiece. The company added in a trading statement on Friday that basic earnings a share for the half-year... 

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