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Coal News

Wescoal advances Vanggatfontein, Moabsvelden projects

By: Marleny Arnoldi     Updated 21 minutes ago JSE-listed coal miner Wescoal says its Moabsvelden project implementation is progressing to plan with a contract mine having been selected. The appointment, however, remains subject to a contract mining agreement being signed.  

Mexico to resume search for miners killed in 2006 blast

By: Reuters     Updated 1 hour 13 minutes ago The Mexican government will resume a search for the bodies of dozens of coal miners killed in a blast more than a decade ago, after mining firm Grupo Mexico returned the concession for the site to the government, officials said on Wednesday. Speaking on the 14th anniversary of the blast, Labor... 

Anglo delivers $3.5bn profit, declares final dividend

By: Martin Creamer     Updated 1 hour 29 minutes ago Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Universal pleads for shareholders to hold fast

By: Esmarie Iannucci     Updated 2 hours 22 minutes ago South Africa-focused coal miner Universal Coal has maintained its advice that shareholders not take any action in regards to a takeover bid from fellow-listed TerraCom, despite the suitor’s reports that its offer had garnered significant attention. TerraCom earlier this week reported that... 

South Africa could use mining royalties to set up sovereign fund – Minister

By: Reuters     Updated 2 hours 26 minutes ago South Africa could use mining royalties to set up a proposed sovereign wealth fund, Mineral Resources and Energy Minister Gwede Mantashe said on Wednesday. President Cyril Ramaphosa said in an annual address to parliament last week the government had decided to establish a sovereign fund, but he... 

Soft coal prices tank Whitehaven profits

By: Esmarie Iannucci     Updated 3 hours ago Coal miner Whitehaven Coal has reported a 30% drop in revenue for the interim period ending December, as coal prices tumbled. The ASX-listed miner on Thursday reported that revenue for the six months under review reached A$885.1-million, down from the A$1.2-billion achieved in the previous... 

Mantashe says Ministerial Determinations needed to unlock IRP 2019 are finalised and await Nersa’s concurrence 

By: Terence Creamer     19th February 2020 Mineral Resources and Energy Minister Gwede Mantashe announced on Wednesday that the Section 34 Ministerial Determinations required to give effect to the Integrated Resource Plan 2019 had been finalised and were currently serving before the National Energy Regulator of South Africa in order to... 

Mantashe says Ministerial Determinations needed to unlock IRP 2019 are finalised and await Nersa’s concurrence
Mineral Resources and Energy Minister Gwede Mantashe

New Hope output picks up despite New Acland delays

By: Esmarie Iannucci     19th February 2020 Coal miner New Hope has reported a 9% increase in coal production for the quarter ended January, and an 84% increase in production in the six months ended January, as the Bengalla project, in New South Wales, increased output. Total saleable coal production for the quarter reached 2.8-million... 

TerraCom's offer for Universal gains traction

By: Esmarie Iannucci     19th February 2020 Suitor TerraCom’s takeover offer for ASX-listed Universal Coal seems to have gained traction with shareholders, despite Universal’s obvious reluctance. TerraCom on Wednesday announced that acceptances to date, when aggregated with TerraCom’s existing interest in Universal, gave the company over... 

South Africa's permission for ACWA plant expires, lawyers say

By: Bloomberg     19th February 2020 ACWA Power has been informed by the South African government that its environmental authorisation to build a 306 MW coal-fired power plant in the country has expired, according to lawyers opposing the project. The authorisation for the Khanyisa coal-fired plant lapsed on October 31, 2018, and the... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

South Africa’s ‘Energy War Room’ to meet for first time

By: Bloomberg     18th February 2020 South Africa’s Energy War Room, a grouping of the main cabinet ministers responsible for the power industry, will meet for the first time this week since being reconstituted by President Cyril Ramaphosa in December as the country battles an electricity crisis that’s stalling economic growth. The... 

Eskom needs cash injection to avoid debt crisis – CEO

By: Reuters     18th February 2020 Ailing power utility Eskom urgently needs more cash to stabilise its ballooning debt pile with the funds coming from a rise in tariffs or new equity, new CE Andre de Ruyter told lawmakers on Tuesday. Eskom, which supplies 90% of South Africa's power but has struggled to meet demand, had a bid for... 

Eskom needs cash injection to avoid debt crisis – CEO
Eskom CEO Andre de Ruyter

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Miners welcome Indonesia's new jobs bill that could spur coal growth

By: Reuters     18th February 2020 Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that the changes could underpin an expansion in polluting coal and threaten environment protection. President Joko Widodo's sprawling "Job Creation" bill... 

Polish miners' strike may hit the wall as coal is on the way out

By: Bloomberg     18th February 2020 Polish coal miners planning a protest in Warsaw later this month may find it more difficult than ever to secure their pay hike demands. The workers, whose strong negotiating position harks back to the Solidarity union’s emblematic fight against communism, have so far seen most of their... 

Polish miners' strike may hit the wall as coal is on the way out

Colombian coal miner Cerrejon and union extend negotiation period

By: Reuters     17th February 2020 Cerrejon, one of Colombia's main coal producers, and its largest union have extended negotiations which started at the end of January by a further 20 days, the parties said on Monday. Cerrejon, which is equally owned by BHP Group, Anglo American, and Glencore, exported 26.3-million tonnes of... 

ARM's basic earnings expected to rise

By: Simone Liedtke     17th February 2020 Diversified miner African Rainbow Minerals (ARM) expects its basic earnings for the first half of the 2020 financial year to increase by between 60% and 65% to between just over R2-billion and R2.1-billion. Basic earnings per share for the six months under review are expected to be between 1 081c... 

Resgen seeking shareholder approval for Boikarabelo mine funding

17th February 2020 Emerging ASX- and JSE-listed energy company Resource Generation (Resgen) plans to obtain shareholder approval for parts of the mine funding package for the construction of the Boikarabelo coal project, in South Africa’s Limpopo province. The company on Monday said it had determined that several... 

Legal stoush looms for Universal and TerraCom

By: Esmarie Iannucci     17th February 2020 Suitor TerraCom on Monday said that it would defend itself against any proceedings brought on by coal miner Universal Coal, after the takeover target warned that it would start litigation to impose a sanction on TerraCom to limit its ultimate stake in Universal. TerraCom last week officially... 

Universal raises concerns on TerraCom offer

By: Esmarie Iannucci     14th February 2020 Takeover target Universal Coal has raised a number of concerns regarding a takeover offer from ASX-listed TerraCom. TerraCom earlier this week officially launched its 33.5c a share offer for each of Universal share held, consisting of 10c in cash and 0.6026 new TerraCom shares. 

Gold miners go green  

14th February 2020 Gold miners are making green additions to their operations. Mining Weekly editor Martin Creamer unpacks Harmony Gold's 30 MW solar plant, Gold Fields' Australian wind turbine and DRDGold's clean up operation in Johannesburg. 

Gold miners go green
Gold miners go green

Curragh returns to full operation

By: Esmarie Iannucci     14th February 2020 The Queensland Mines Inspectorate has cleared ASX-listed Coronado Global Resources to resume tyre and wheel rim fitting at the Curragh coal mine, following a fatality in January. An employee of contractor Thiess was fatally injured at the mine in January after becoming trapped at machinery,... 

Cokal launches tenders for BBM

By: Esmarie Iannucci     14th February 2020 ASX-listed Cokal has called on mining contractors to tender for work at its Bumi Barito Minerals (BBM) project, in Indonesia. The contractors will be responsible for the removal of overburden and interburden at the BBM mine, coal mining activities and the transport of cola from the BBM mine to... 

Ramaphosa announces far-reaching actions to boost power generation ‘outside of Eskom’ 

By: Terence Creamer     13th February 2020 President Cyril Ramaphosa on Thursday announced far-reaching and practical interventions to address South Africa’s growth- and confidence-sapping electricity crisis, including several steps to “significantly increase generation capacity outside of Eskom”. He also warned, however, that... 

Ramaphosa announces far-reaching actions to boost power generation ‘outside of Eskom’
President Cyril Ramaphosa

Eskom sets aside R400m for voluntary separation offer to senior employees 

By: Terence Creamer     13th February 2020 Debt-laden State-owned power utility Eskom confirmed on Thursday that it would be offering senior employees voluntary separation packages during March and April in an effort to lower overhead costs. It reiterated, however, that it had no intention of implementing a forced retrenchments programme.... 

Eskom sets aside R400m for voluntary separation offer to senior employees

Gold drives South Africa’s mining production higher

By: Simone Liedtke     13th February 2020 Mining production in South Africa increased by 1.8% year-on-year in December, Statistics South Africa (Stats SA) reported on Thursday. The largest contributors to this were gold, with output up 24.9% and contributed 2.7 percentage points; other nonmetallic minerals, which was up 24.1% and... 

India keen to import more coking coal from Russia and Mongolia

By: Ajoy K Das     12th February 2020 In a bid to lower its import dependency on Australian coking coal, the Indian government has opened up bilateral government-to-government negotiations with Mongolia and Russia to ship greater volume of the dry fuel suitable for its domestic steel mills. Government officials say that talks focus... 

India keen to import more coking coal from Russia and Mongolia

TerraCom confirms Universal offer

By: Esmarie Iannucci     12th February 2020 South Africa-focused coal miner Universal Coal has maintained its advice that shareholders not respond to an unsolicited offer from fellow-listed TerraCom, after the suitor on Wednesday lodged a formal offer document. TerraCom on Wednesday confirmed its offer for 33.5c a share for each of the... 

Arnot OpCo officially launched 

By: Tasneem Bulbulia     11th February 2020 Middelburg, MPUMALANGA (miningweekly.com) – Diversified miner Exxaro Resources on Tuesday officially launched Arnot OpCo, the consortium through which the Arnot coal mine in Middelburg, Mpumalanga, will be owned and managed. The former employees of the Arnot mine will have a 50% ownership of the... 

Business urges Ramaphosa to use SoNA to clear way for private energy generation ‘at scale’ 

By: Terence Creamer     11th February 2020 Organised business has urged President Cyril Ramaphosa to use his upcoming State of the Nation Address (SoNa) to announce that the regulations needed to enable “private sector energy generation at scale” will be put in place urgently by Mineral Resources and Energy Minister Gwede Mantashe so as... 

Business urges Ramaphosa to use SoNA to clear way for private energy generation ‘at scale’
President Cyril Ramaphosa will deliver his State of the Nation Address on Thursday evening

World emissions kept in check as rich nations kick coal habit

By: Bloomberg     11th February 2020 Global emissions from energy held steady in 2019 for the first time in three years as developed nations continued to move away from coal power and toward renewable energy and natural gas. Even as the world economy grew, energy-related carbon dioxide emissions remained at 33.3-billion tons.... 

BlackRock fails to assuage climate critics with Fink’s promises

By: Bloomberg     11th February 2020 Larry Fink said last month he would thrust climate change concerns to the center of BlackRock’s investment strategy. That didn’t stop activists from storming its Paris office on Monday. Protesters barricaded the premises, sprayed red paint on the floors and covered walls with graffiti before... 

Eskom loses R69bn urgent-relief battle, but war continues   

By: Terence Creamer     10th February 2020 Judge Jody Kollapen on Monday turned down Eskom’s application for urgent relief in relation to the National Energy Regulator of South Africa’s controversial treatment, in its most recent tariff determination, of the R69-billion in government support announced in the 2019 Budget. Kollapen said the... 

Eskom loses R69bn urgent-relief battle, but war continues
CLICK ABOVE TO LISTEN: Engineering News Editor Terence Creamer speaks to CapeTalk's Refilwe Moloto about the legal showdown between Eskom and Nersa. Recorded: 11.02.2020

Gibb Mining undertakes feasibility study for Sasol’s Alexander coal project

By: Marleny Arnoldi     10th February 2020 Engineering design and project management enterprise Gibb Mining has been awarded the tender to complete a feasibility study for JSE-listed Sasol Mining’s Alexander project. The project seeks to deploy production sections within the Alexander coal blocks, in Mpumalanga, by 2025.  

Resgen appoints new CFO

By: Marleny Arnoldi     10th February 2020 ASX- and JSE-listed coal producer Resource Generation (Resgen) has appointed Brian Harvey CFO, effective June 1. Harvey has more than 15 years’ experience in senior finance roles, having worked for multinational JSE-listed and foreign listed companies, including Weir Minerals Africa and Middle... 

BlackRock stake in US coal giant shrinks amid climate vow

By: Bloomberg     10th February 2020 Even before publicly vowing to unwind its investments in coal, BlackRock began cutting its stake in the biggest US miner. The world’s largest asset manager had about 4.87-million shares of Peabody Energy as of December 31, a 5% stake, according to a regulatory filing Friday. That’s down 14% from... 

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