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Coal News

India's Coal Minister says no value in splitting Coal India

By: Reuters     2nd December 2016 India's Power and Coal Minister Piyush Goyal said there was no value in splitting up India's biggest coal producer Coal India. Reuters reported on Wednesday that according to a presentation by senior government officials, a proposal has been mooted to break up of the country's Coal India... 

Botswana, Namibia expand scope of Trans-Kalahari railway project

By: African News Agency      2nd December 2016 The government of Botswana and Namibia have expanded the scope of the Trans-Kalahari Railway Line project from being a dedicated coal export route to a multisectoral project designed to unlock the potential of other economic sectors along the corridor. Addressing parliament in Gaborone on... 

Wollongong weighs appeal as court rejects bid

By: Esmarie Swanepoel     2nd December 2016 ASX-listed junior Wollongong Coal has said it is disappointed with the decision by the Land and Environment Court to set aside the company’s appeal on orders from the New South Wales Planning and Assessment Commission (PAC). The PAC in March this year released its review report in relation to... 

Anti-coal politics could harm Qld economy – Minister

By: Esmarie Swanepoel     2nd December 2016 Australia’s Minister for Resources and Northern Australia, Matt Canavan, has warned that attacks on the coal industry could threaten more than 180 000 jobs and A$30-billion in economic activity in Queensland. Canavan accused the Labor party of throwing its weight behind the Greens party, in... 

Anti-coal politics could harm Qld economy – Minister

China orders coal mines to conduct safety overhaul

By: Reuters     2nd December 2016 China has ordered all of the country's coal mines to conduct a safety overhaul in the past month, the official Xinhua news agency reported on Friday, citing the deputy director of the country's work safety watchdog. Mines should not be operating over capacity and miners should not be asked to... 

Shareholders in Polish coal producer JSW agree to wind down troubled mine

By: Reuters     1st December 2016 Shareholders in Polish State-run coking coal producer JSW agreed on Thursday to transfer its most troubled mine Krupinski to the State mining restructuring company SRK, which will eventually wind it down, the State-run news agency Polska Agencja Prasowa (PAP) said. The decision is key to JSW's... 

Kibo receives integrated draft financial model for MCPP

By: Anine Kilian     1st December 2016 Tanzania-focused mineral exploration and development company Kibo has received an advanced draft of the integrated financial model for the Mbeya coal-to-power project (MCPP) from its financial advisers, Absa/Barclays. The model will be the subject of extensive review and further adjustment, based... 

Diligent Glencore delivers on debt promise, restarts dividend

By: Martin Creamer     1st December 2016 Diversified mining and marketing company Glencore has delivered on last year’s commitment to cut debt and structurally increase the strength of its balance sheet – and it has done so in a way that has preserved the group’s long-term earnings capability.  JP Morgan Cazenove analysts described the... 

Diligent Glencore delivers on debt promise, restarts dividend
Photo by Duane Daws
Ivan Glasenberg at last year's hand over by Glencore of a R75-million school in South Africa's coalfields to Basic Education Minister Angie Motshekga.

Rio Tinto says target of SEC probe over Mozambique coal

By: Reuters     1st December 2016 Global miner Rio Tinto said on Thursday it was cooperating with the US Securities Exchange Commission over financial impairments in 2012 related to its coal operations in Mozambique. "As the SEC investigation, which started in April 2013, remains ongoing it would be inappropriate to comment... 

China slaps new fees on Mongolian exporters amid Dalai Lama row

By: Reuters     1st December 2016 A major border crossing between China and Mongolia has imposed new fees on commodity shipments between the two countries, amid a diplomatic row sparked by the visit to Ulaanbaatar of the Tibetan spiritual leader the Dalai Lama last week. The Dalai Lama is cherished as a spiritual leader in... 

Guptas, Eskom still not budging on R2bn coal fine payment 

By: News24Wire      1st December 2016 The Guptas, who part-own Optimum Coal Mine through Tegeta Resources and Energy with President Jacob Zuma’s son Duduzane Zuma, have yet to pay the R2.176-billion fine imposed on it by Eskom. That is according to a written Parliamentary response by Public Enterprises Minister Lynne Brown on Wednesday. 

Debt-laden Buffalo Coal treads water

By: Henry Lazenby     30th November 2016 South Africa-focused coal miner Buffalo Coal has reached an agreement with its lead shareholder, Resource Capital Fund V (RCF), to amend a convertible loan agreement and provide it with an interest payment holiday effective from July 2, 2016. RCF, which currently holds about 86.7% of Buffalo's... 

Britain, Mongolia pledge to do more mining together

By: Reuters     30th November 2016 Britain and Mongolia signed their first memorandum of understanding in the mining sector on Tuesday, pledging an exchange of technology and expertise, and deepening ties based on Rio Tinto's huge copper mine in the South Gobi desert. The agreement, signed on the sidelines of a mining conference... 

Glencore pivots from disposals to dividends as stock rallies

By: Bloomberg     29th November 2016 What a difference a year makes. Glencore fended off questions in 2015 about its survival as commodity prices hit new lows, and now there’s talk that the company’s turnaround plan has gone so well that it could be months away from paying dividends again. Surging coal and zinc prices, a rebounding... 

Prairie starts scoping work in Poland

By: Esmarie Swanepoel     29th November 2016 Coal developer Prairie Mining has launched a scoping study for its recently acquired Debiensko hard coking coal project, in Poland. The study, due for completion in early to mid-2017, will explore options for the near-term development of the project, with an eye on minimising upfront capital cost. 

SEC said to probe Rio Tinto on Mozambique deal impairments

By: Bloomberg     29th November 2016 The US Securities and Exchange Commission (SEC) is investigating a $3-billion impairment charge Rio Tinto Group booked on a Mozambique coal deal almost four years ago, according to a person familiar with the matter. The investigation is ongoing and is separate to an internal Rio review into... 

SEC said to probe Rio Tinto on Mozambique deal impairments

Capital expenditure to continue downward trend

By: Henry Lazenby     29th November 2016 Despite a modestly more buoyant outlook for key metal prices, mining capital expenditures (capex) are expected to continue on a downward slide over the next three years as miners seek further cost cuts and to improve operational margins, according to analysis by Fitch Group research arm BMI.... 

Capital expenditure to continue downward trend

Keaton hopeful of anthracite exit in next few months

By: Natasha Odendaal     28th November 2016 JSE-listed Keaton Energy is steadily making a “strong comeback” with its earnings for the first half of the 2017 financial year improving substantially after the idling of its lossmaking Vaalkrantz colliery, in KwaZulu-Natal, and the continued steady-state operations at its Vanggatfontein... 

Keaton hopeful of anthracite exit in next few months
Photo by Duane Daws
Keaton CEO Mandi Glad

CFMEU claims Anglo is targeting its striking members in Qld job cuts

By: Esmarie Swanepoel     28th November 2016 Diversified miner Anglo American will cut 82 positions at its German Creek mine, in Queensland, amid a strike that started in August over protracted enterprise bargaining agreement negotiations. The Fair Work Commission on Friday dismissed an application by union CFMEU for ‘good faith... 

Two legal bids to stop $16.5bn Carmichael mine fail in Supreme Court

By: Esmarie Swanepoel     28th November 2016 The $16.5-billion Carmichael rail and coal project has cleared another legal hurdle after the Queensland Supreme Court dismissed two legal challenges to the grant of a mining lease and environmental approvals. The first had been a challenge by activist Adrian Burragubba, and the second by... 

Coal price surge sets miners against activists by English seaside

By: Reuters     28th November 2016 In northeastern England, a battle is raging between grass roots campaigners and a company intent on digging a new open cast mine as world coal prices soar. A year after Britain closed its last deep coal mine and pledged to phase out coal-fired power generation, the economics of mining have been... 

Alberta to pay coal power producers C$1.1bn to transition away from coal generation by 2030 

By: Henry Lazenby     25th November 2016 As part of the province’s ‘Climate Leadership Plan’, the Alberta government has agreed to pay three coal power producers operating in the province more than C$1-billion over the next 14 years to compensate them for prematurely shuttering their coal-fired power plants by 2030. The agreements will... 

Alberta to pay coal power producers C$1.1bn to transition away from coal generation by 2030

Discredited DMR making ill-considered demands on struggling industry

By: Martin Creamer     25th November 2016 The Department of Mineral Resources (DMR) is making ill-considered demands that have little hope of being met. Instead of following the continent’s African Mining Vision and Zambezi Protocol, the DMR is going out on a dictatorial limb. 

Discredited DMR making ill-considered demands on struggling industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter and Chamber of Mines Senior Executive Public Affairs and Transformation Tebello Chabana

Exxaro confident Eskom contracts safe, despite BEE ownership decreasing to 30%

By: Ilan Solomons     25th November 2016 Diversified miner Exxaro Resources has assured investors that despite its black ownership falling below the 51% required by State-owned power utility Eskom for all its supply contracts, this will not affect its existing supply contracts with the utility. The company is set to introduce a new... 

Exxaro confident Eskom contracts safe, despite BEE ownership decreasing to 30%
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

BMI ‘moderately positive’ about mining’s near-term future

By: David Oliveira     25th November 2016 The overall view for the global mining industry in the coming years is “moderately positive”, owing to the ongoing fiscal spending on construction, mostly driven by China, BMI Research mining and metals commodities analyst Mitchell Hugers said during a teleconference earlier this month. “Chinese... 

Fraser Alexander’s structured funding offering well received by mining sector

By: Ilan Solomons     25th November 2016 Mining services and construction company Fraser Alexander’s Integrated Mining Service (IMS) structured funding offering has been very positively received by the mining industry, says CEO Velile Nhlapo. He informs Mining Weekly that the IMS offering has been particularly popular among emerging... 

Fraser Alexander’s structured funding offering well received by mining sector
WELL RECEIVED Integrated Mining Service offerings have been particularly popular among emerging mining companies and companies with coal-to-power projects

Industry recommits to ‘zero harm’ target as fatalities climb

By: Ilan Solomons     25th November 2016 The milestones that were agreed upon by all industry stakeholders at the 2014 Mine Occupational Health & Safety Summit are in danger of not being achieved in accordance with their timeline, warns Department of Mineral Resources (DMR) acting mines chief inspector Xolile Mbonambi. He was addressing... 

Industry recommits to ‘zero harm’ target as fatalities climb
RENEWED COMMITTMENT Cooperative Governance and Traditional Affairs Minister Des van Rooyen signs mining industry pledge renewal on achieving health and safety milestones agreed in 2014

Maules Creek mine, Australia

By: Sheila Barradas     25th November 2016 A coal mine, in the heart of the Gunnedah basin, in New South Wales, Australia. 

Maules Creek mine, Australia

Science council heavily involved in mining research and development

By: Keith Campbell     25th November 2016 Although the new Mining Precinct (or Mining Hub) initiative has rightly attracted a lot of interest (see “Mining Weekly” October 7), the mining and minerals research and development (R&D) activities of the Council for Scientific and Industrial Research (CSIR – a key participant in the Mining... 

Science council heavily involved in mining research and development

South32 zeroes in on better safety performance in South Africa

By: Natasha Odendaal     24th November 2016 After the fatalities of four employees during the past year, triple-listed South32 needs to initiate a complete step-change in the way it approaches its safety commitments in South Africa. The diversified mining company has therefore committed to investing time, energy and leadership into making... 

India’s demonetisation drive hits coal offtake among smaller consumers

By: Ajoy K Das     24th November 2016 The Indian government’s demonetisation of high-value currency notes has started to impact on coal offtake, particularly among small consumers that do not have long-term supply contracts with Coal India Limited (CIL), or the cash to participate in e-auction and take deliveries of the fuel. On... 

Rio Tinto CEO didn't see coal price going up, but expects it to fall

By: Reuters     24th November 2016 Rio Tinto CEO Jean-Sébastien Jacques on Wednesday admitted he didn't see the recent meteoric rise in coal prices coming. But he is already predicting the fall. Jacques, named five months ago to run the world's second-biggest mining company, said it's now clear China's mandate to rid its skies of... 

Allegiance fast-tracks British Columbia coal project

By: Esmarie Swanepoel     24th November 2016 Junior Allegiance Coal is hoping to expedite the development of the recently acquired Telkwa coal project, in British Columbia, with a prefeasibility study (PFS) scheduled for completion by the first half of 2017. Allegiance earlier this year acquired private Canadian firm Telkwa Coal in a deal... 

DMR appointment causes concern

By: Martin Creamer     23rd November 2016 Mineral Resources Minister Mosebenzi Zwane has controversially made a key appointment within the Department of Mineral Resources (DMR) on the grounds that it is only temporary.   Earlier this month, the Democratic Alliance (DA) Shadow Minister of Mineral Resources, James Lorimer MP, requested... 

DMR appointment causes concern
DA Shadow Minister of Mineral Resources James Lorimer MP

Exxaro forecasts higher coal sales, production by year-end

By: Megan van Wyngaardt     23rd November 2016 South African coal producer Exxaro expects thermal coal production from its commercial mine to increase by 6% year-on-year in the second half of its financial year, owing to the inclusion of Exxaro Coal Central (ECC) before the 2016 financial year end. However, the JSE-listed miner noted that... 

Keaton expects higher interim earnings

By: Anine Kilian     23rd November 2016 JSE-listed Keaton Energy expects its earnings and headline earnings a share from continuing operations for the six months ended September 30, to be between 12.5c and 13.5c. It posted earnings and headline earnings a share of 2.6c in the six months to September 30, 2015. 

Anglo productivity up 40%

By: Martin Creamer     23rd November 2016 Mining company Anglo American, which has reduced the number of assets in its portfolio from 68 in 2012 to 42 now, is producing more product from those 42 assets than it was from the 68. As a consequence, the product produced per person is currently 40% higher than it was four years ago. 

Anglo productivity up 40%
Photo by Duane Daws
Anglo American CEO Mark Cutifani
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