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Coal News

BMI lifts thermal coal price outlook; says nickel has bottomed

By: Henry Lazenby     29th June 2016 Fitch group research firm BMI has raised its thermal coal price forecasts on the back of a more aggressive contraction in global mine output than initially anticipated, mainly in China. The firm now forecast Newcastle coal to average $53/t in 2016, up from $51/t and at $57/t in 2017, previously... 

Coal price forecast to rise on production fall

By: Martin Creamer     28th June 2016 A greater-than-expected decline in global mine production, predominately in China, has prompted Fitch group company BMI Research to forecast higher coal prices. The research group now calculates that Newcastle coal will average $53/t this year, up on its previous forecast of $51/t. 

Coal companies spent $95m on lobbying before bankruptcies

By: Bloomberg     28th June 2016 Five coal-mining companies spent $95-million to lobby US lawmakers and more than half a billion dollars on salaries for top executives in the decade before they filed for bankruptcy, according to a report by an environmental group. At the same time, the companies – Walter Energy, Patriot Coal,... 

Coal companies spent $95m on lobbying before bankruptcies

Waterberg rail supply disappoints Exxaro

By: Martin Creamer     28th June 2016 Rail supply in the Waterberg region since the beginning of the year has been disappointing, Exxaro Resources said on Tuesday. The JSE-listed company reported receiving only 3.5 trains a week from Transnet Freight Rail instead of the required five, a situation likely to persist until the... 

Waterberg rail supply disappoints Exxaro
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Sentula Coal to merge with Close-Up Mining

By: Anine Kilian     28th June 2016 Diversified mining company Sentula Mining will sell its 50.5% shareholding in Sentula Coal to mining services provider Close-Up Mining. Under the terms of the deal, Sentula would dispose of its claims against Sentula Coal in the amount of R50-million to Close-Up, which will, in turn, issue 2 667,... 

Creamer Media publishes Real Economy Insight 2016: Coal report

     27th June 2016 This eight-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 2016: Coal report

Pricing freedom for India-based mining entities run by the provinces

By: Ajoy K Das     27th June 2016 As part of its aim to usher in commercial coal mining in India, the government has empowered provincial governments with pricing freedom for coal produced by provincial government-controlled mining entities. The provinces would also have the freedom to enter into joint ventures and appoint mine... 

Keaton reports R297m FY loss

By: David Oliveira     27th June 2016 South African coal miner Keaton Energy incurred a net loss of R297.3-million for the year ended March 31, compared with a net loss of R71.9-million the year before. The coal miner reported a headline loss a share of 26.9c, compared with headline earnings a share of 0.4c the year before. 

Substantive mineral law issues still far from resolved – Herbert Smith Freehills 

By: Martin Creamer     27th June 2016 The content and the implications of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill are extraordinarily complicated. Three issues, which embody the most significant negative implications for the mining industry and South Africa, have been delaying the finalisation of... 

Substantive mineral law issues still far from resolved – Herbert Smith Freehills
Photo by Duane Daws
Herbert Smith Freehills' Ben Winks

Transnet pares back capex as commodity slump impacts demand 

By: Terence Creamer     27th June 2016 State-owned freight logistics group Transnet has pared back its 2016/17 capital expenditure (capex) plan in line with its strategy of “validating” demand ahead of moving ahead with major investments. The rail, ports and pipelines utility expects to invest around R22.8-billion during the 2017... 

Transnet pares back capex as commodity slump impacts demand
Photo by Duane Daws
Transnet CEO Siyabonga Gama

Keaton expects FY loss as a result of one-off costs

By: Anine Kilian     24th June 2016 A R159.2-million impairment charge and a R61.5-million breach of contract charge will see Keaton Energy post a headline loss a share for continuing operations of between 16c and 17c for the year ended March 31, compared with headline earnings per share (HEPS) of 12.5c in the prior financial year.... 

Embracing technology key to success of the mine of the future

By: Mia Breytenbach     24th June 2016 For mining to be part of the twenty-first century, it has to create a range of benefits as part of the business model, have access to realistic commodity pricing models and must embrace technology, says University of the Witwatersrand (Wits) Mining Institute director Professor Fred Cawood says.... 

Embracing technology key to success of the mine of the future
Photo by Bloomberg
FUTURE MINE The trends around key mining industry issues could lead to possible futures characterised by an African mining boom

The MSA Group

     24th June 2016 Local mining consultancy The MSA Group provides exploration, geology, mineral resource, mining and environmental consulting solutions to a client base that includes some of the world’s largest multinational mining companies, as well as private equity and sovereign wealth funds, banks, governments... 

The MSA Group

Call for bargaining council to protect workers amid mining accidents in Botswana 

By: African News Agency      23rd June 2016 The Botswana Mine Workers Union (BMWU) has urged the government to set up a bargaining council to safeguard the welfare of workers who suffer crippling and fatal injuries while working in the mines. The call came after one Bamangwato Concession Limited (BCL) worker suffered a broken hip bone... 

Lenders turn away BHP port debt plan, wary of coal

By: Reuters     23rd June 2016 Australian mining giant BHP Billiton pulled a $500-million debt refinancing plan at one of Australia's biggest coal export terminals after banks were reluctant to lend to the sector, said three sources with knowledge of the process. The decision earlier this month sets back efforts to simplify... 

RBCT unveils new R49m coal sampling lab  

     23rd June 2016 The new R49-million coal sampling laboratory recently opened at the Richards Bay Coal Terminal ensures faster sample turnaround times from a state-of-the-art facility. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

RBCT unveils new R49m coal sampling lab

Zimbabwe’s Hwange coal mine to cut 1 500 jobs, Minister says

By: Bloomberg     23rd June 2016 Hwange Colliery Ltd., a partly state-owned Zimbabwean coal miner, plans to cut 1 500 jobs this year to make it more viable and has put measures in place to protect it from lawsuits, Deputy Mines Minister Fred Moyo said. “Hwange’s labour force is 3 000 and about 1 500 are going to be laid off to... 

‘Stop supply’ notices deal a blow to Coal India’s stock liquidation

By: Ajoy K Das     23rd June 2016 Coal miner Coal India Limited’s (CIL’s) efforts to deal with rising pithead stocks have been dealt another blow as an increasing number of thermal power plants have issued ‘stop supply’ notices to the miner. Several thermal power plants across India have asked CIL not to make any further coal... 

RBCT unveils new R49m coal sampling lab

By: Martin Creamer     22nd June 2016 The new R49-million coal sampling laboratory opened at the Richards Bay Coal Terminal on Wednesday ensures faster sample turnaround times from a state-of-the-art facility built in partnership with leading sampling service provider SGS South Africa. SGS, which employs 2 500 employees in South... 

RBCT unveils new R49m coal sampling lab

Coal India starts auctioning supply contracts

By: Ajoy K Das     21st June 2016 Coal India Limited (CIL) has kick started auctioning coal contracts to major sectors amid signs of jaded appetite among its consumers. CIL completed the auction for the sponge iron-ore sector last week and has announced that the auction for the cement sector would start next week. 

Kibo making progress on integrated BFS for Mbeya project

By: Anine Kilian     21st June 2016 The technical work that forms the backbone of an integrated bankable feasibility study (IBFS) for dual-listed Kibo Mining’s Mbeya coal-to-power project (MCPP) is drawing to a close, CEO Louis Coetzee said on Tuesday. “At this time, multiple work streams are simultaneously under way in the process... 

BHP Billiton coal operations cash positive, targets another $600m in savings

By: Mariaan Webb     21st June 2016 Diversified mining group BHP Billiton is looking for $600-million in new savings from its coal business, which has already cut costs by $3-billion since 2012, the group reported on Tuesday, when it also increased its metallurgical coal production guidance for the 2016 financial year. BHP... 

BHP Billiton coal operations cash positive, targets another $600m in savings
BHP Billiton’s president for the Australian minerals division, Mike Henry.

Average capex overrun for mining companies hits 37% – EDC study

By: Simon Rees     20th June 2016 The average cost overrun for mining projects studied by Export Development Canada (EDC) has reached 37% over the capital expenditure (capex) budgeted, EDC managing principal Tin Lwin told an audience at a recent meeting of the Canadian Institute of Mining’s Management and Economics Society in... 

Average capex overrun for mining companies hits 37% – EDC study

South Africa seeks comment on draft carbon-offset rules

By: Terence Creamer     20th June 2016 Draft carbon offset regulations have been released by the National Treasury for public comment, with a submission deadline of July 29. Under the proposed rules, firms can reduce their carbon tax liability by between 5% and 10% of their total greenhouse gas (GHG) emissions, by investing in... 

South Africa seeks comment on draft carbon-offset rules

CoAL extends Universal acquisition closing date to July 15

By: Creamer Media Reporter      17th June 2016 Coal development and mining company Coal of Africa Limited (CoAL) has extended the offer period for the acquisition of Universal Coal to July 15, to enable the enlarged group to “ensure it is financially in a position to advance its combined prospects” and that CoAL’s working capital is such that... 

India orders govt-owned thermal power plants to stop coal imports

By: Ajoy K Das     17th June 2016 Concerned over mounting stocks at Coal India Limited (CIL) and falling off-take by large consumers, the Coal Ministry has directed government-owned and -operated thermal power producers to stop all coal imports and instead source feedstock from the domestic miner. “We have sufficient coal but... 

India orders govt-owned thermal power plants to stop coal imports

Skills compatibility, dual-skilled labour enhance agreements  

By: Sebastian Whyle     17th June 2016 The mine maintenance industry is facing a significant skills shortage, exacerbated by commodity price instability, industrial conveyor maintenance service provider ELB Conveyor Maintenance director Sharmlin Govender tells Mining Weekly. 

Skills compatibility, dual-skilled labour enhance agreements
ELB Conveyor Maintenance director Sharmlin Govender

Cutting corners to cost mines in long run

By: Sebastian Whyle     17th June 2016 Many sites are trying to cut costs by moving away from using original-equipment manufacturer (OEM) spares and components when undertaking maintenance, says technologies, products and engineering services provider Tenova TAKRAF Africa aftermarket GM Paul Davies.  

Cutting corners to cost mines in long run
INCREASED NEED With the rapid uptake of mechanisation and automation in the mining industry, greater emphasis has been placed on the need for maintenance in the last 20 years

DMR, Keaton at odds over status of Vaalkrantz retrenchment process

By: Ilan Solomons     17th June 2016 The Department of Mineral Resources (DMR) continues to engage management of the Vaalkrantz colliery, in KwaZulu-Natal, to explore job saving options, DMR spokesperson Ayanda Shezi told Mining Weekly on June 3. She said the DMR continued to engage coal producer Keaton Energy’s wholly owned... 

DMR, Keaton at odds over status of Vaalkrantz  retrenchment process
Photo by Duane Daws
VAALKRANTZ COLLIERY, KWAZULU-NATAL Leeuw Mining and Exploration had concluded a Section 189A process for the retrenchment of all 80 employees at its Vaalkrantz colliery

Ensuring worker health yields direct, indirect benefits for mining companies – Sasol executive

By: Ilan Solomons     17th June 2016 Safe and healthy employees at all levels, operating within a culture of care and respect, create direct value through for example reduced absenteeism and through indirect benefits, such as higher levels of efficiency, morale and cooperative teamwork, says petrochemicals group Sasol mining... 

Ensuring worker health yields direct, indirect benefits for  mining companies – Sasol executive
LUCKY KGATLE For the industry to achieve the goal of zero harm, it is going to take serious leadership to create a culture where people feel cared for and respected

Mozambique’s new Nacala coal line already in line for upgrade

By: Keith Campbell     17th June 2016 In Mozambique, the coal transport capacity of the new Nacala Corridor railway route, from the inland Moatize coal field to the port city of Nacala-a-Velha, will be increased with a $3-billion investment in the near future. This was reported last week by Mozambican Cabinet spokesperson Mouzinho... 

Mpumalanga paying huge enviro price owing to poor regulation by govt departments – report

By: Ilan Solomons     17th June 2016 Mining is a destructive activity that poses significant threats to the environment, health and livelihoods. Managing these threats to avoid the violation of Constitutional rights requires strong, well-resourced and principled regulation. This is according to Cape Town-based nonprofit organisation... 

Mpumalanga paying huge enviro price owing to poor  regulation by govt departments – report
COAL COUNTRY Over the past 14 years, Mpumalanga has experienced a “proliferation” of prospecting and mining right applications, particularly for coal

Group challenges approval of Santos’ Queensland CSG well expansion

By: Mariaan Webb     16th June 2016 A community group is taking on Federal Environment Minister Greg Hunt’s approval of 6 100 coal seam gas (CSG) wells in Queensland, a move which the industry has slammed as “delaying tactics”. The Western Downs Alliance on Thursday started legal proceedings to challenge oil and gas major Santos’... 

Group challenges approval of Santos’ Queensland CSG well expansion
The GLNG gas field development is related to the Gladstone project (pictured) and involves the development of coal seam gas resources in the Surat and Bowen basins.

Gupta-owned company shares dive 91% as websites downed by hackers 

By: News24Wire      15th June 2016 Gupta-owned Oakbay Resources and Energy’s share price plummeted by over 90% on the JSE on Wednesday, the same day that hackers attacked the company’s websites and shut them down. The JSE-listed company was trading R20.86 lower at R2.14, with only 30 shares trading. The company, with a market cap... 

Gupta-owned company shares dive 91% as websites downed by hackers

Stanmore to start highwall mining at Isaac Plains

By: Mariaan Webb     15th June 2016 Coal miner Stanmore Coal announced on Wednesday that it would extract 300 000 t of previously uneconomic coal from the disused S2 pit at the Isaac Plains mine, in Queensland’s Bowen basin. The company awarded a five-month contract to UGM Highwall Mining to start highwall mining operations at... 

Vale's Mozambique unit stops using Sena railway after attacks – State news agency

By: Reuters     15th June 2016 Brazil's Vale has stopped transporting coal on the Sena railway line from its mine in the western Mozambique after two gun attacks on its trains last week, the State news agency said on Tuesday. In both attacks, the gunmen fired at the cabin of the lead locomotive, the news agency reported,... 

Settlement reached over Madagascar mining licence – Bushveld Minerals

By: Anine Kilian     14th June 2016 Aim-listed Bushveld Minerals’ subsidiary Lemur Resources has reached a settlement with a claimant Rahajasoamampionona Ramiaramanana over mining licence 4578 within Lemur’s Imaloto power project coal concession, in Madagascar. Under the terms of the settlement agreement signed between Lemur’s... 

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