R/€ = 14.41 Change: -0.06
R/$ = 13.25 Change: -0.14
Au 1263.37 $/oz Change: -1.27
Pt 948.00 $/oz Change: -6.50

Coal News

India to offer coal blocks to private investors for alternative fuel production projects

By: Ajoy K Das     Updated 32 minutes ago To open up a larger window for commercial mining of coal by private investors, the Indian government has started identifying additional coal blocks to be auctioned for exclusive extraction of alternative fuel. According to a Coal Ministry official, the new coal blocks will be identified over the... 

M&R a co-applicant with GE in dispute with Eskom over Duvha contract

By: Terence Creamer     Updated 3 hours ago Murray & Roberts (M&R) has confirmed that it is a co-applicant with GE’s in court bid to prevent Eskom from implementing a contract with Dongfang Electric Corporation for the Duvha Unit 3 boiler recovery project. The 600 MW boiler was damaged catastrophically in March 2014 as a result of over... 

Jameson lowers capital cost estimate for Canada project

By: Esmarie Swanepoel     Updated 5 hours ago An updated prefeasibility study (PFS) into the Crown Mountain coking coal project, in Canada, has reduced the capital cost estimate from the $339.7-million anticipated in the original 2014 PFS, to $281-million. Capital costs could be reduced further by leasing or using low-hour used equipment,... 

Teck’s earnings rise on higher coal price

By: Henry Lazenby     25th April 2017 Canadian diversified miner Teck Resources on Tuesday posted adjusted first-quarter profit of C$671-million, or C$1.16 a share, a significant increase on the C$18-million, or C$0.03 a share reported a year earlier, but falling short of analyst forecasts calling for earnings a share of C$1.29. The... 

Anglo American achieves strong Q1 operational performance

By: Megan van Wyngaardt     24th April 2017 Diversified major Anglo American, led by CEO Mark Cutifani, posted a strong operational performance in the quarter ended March 31, with higher output achieved for most of its products, except copper and nickel. South African coal production increased 9% to five-million tonnes in the first quarter... 

Anglo American achieves strong Q1 operational performance
CEO Mark Cutifani

NLC puts overseas acquisitions on the backburner after acquiring domestic coal blocks

By: Ajoy K Das     24th April 2017 Having secured three coal blocks through the preferential allocation dispensation for government companies, NLC Limited (formerly Neyveli Lignite Corporation) has abandoned plans for overseas acquisition of coal assets. NLC has been allocated two coal blocks in the eastern Indian province of... 

Japan steel industry head says concerned at Trump 'protectionism'

By: Reuters     24th April 2017 Japanese steelmakers are concerned at "protectionism" by US President Donald Trump, Japan Iron and Steel Federation chairperson Kosei Shindo said on Monday, following Trump's first shot across China's bows over steel exports. Japan is the world's second-largest steel producer, although Shindo... 

Japan steelmakers scramble for coking coal to make up Debbie losses

By: Reuters     24th April 2017 Japanese steelmakers have bought coking coal from the US, Canada and China to replace supply lost after a cyclone closed rail links in Australia, their biggest supplier, industry and trader sources said. Still, the Japanese buyers are paying nearly double the $150/t price that they were... 

Tegeta coal prepayment not a loan says Eskom 

By: News24Wire      22nd April 2017 The over R600-million Eskom paid to Tegeta, a company in which the Gupta family has interests, was not a loan, but a prepayment, the state-owned power utility said on Saturday. Eskom also wanted it made clear that Tegeta honoured its side of the agreement by delivering all the pre-paid coal,... 

AfDB to review development of Senegalese power plant after complaints 

By: Megan van Wyngaardt     21st April 2017 The African Development Bank (AfDB) will review compliance eligibility at the €206-million, 125 MW Sendou coal-fired power plant project, in Senegal, following several community complaints. Two groups raised eight similar issues with the bank, including an unviable government policy option to use... 

Reservations expressed about India’s proposed rules for commercial coal mining auctions

By: Ajoy K Das     21st April 2017 As the government readies to open commercial coal mining to private miners for the first time since 1973, prospective private investors have raised reservations about the terms and conditions laid down by the Coal Ministry. According to minutes of a meeting between the Coal Ministry and... 

Universal posts record sales

By: Esmarie Swanepoel     21st April 2017 South Africa-focused coal miner Universal Coal has reported record sales and record operating cash flows during the three months to March, despite an 11% drop in production. Run-of-mine coal production for the quarter fell to 905 000 t, from 1.02-million tonnes in the December quarter, with... 

Universal posts record sales

BHP announces Qld coal investment

By: Esmarie Swanepoel     21st April 2017 Mining giant BHP Billiton and its coal joint venture (JV) partner Mitsubishi have approved a $204-million investment in the Caval Ridge Southern Circuit (CRSC) project, in central Queensland. The project will create up to 400 new construction jobs and will require 200 ongoing operational roles. 

BHP announces Qld coal investment

US weekly coal output rises

By: Henry Lazenby     21st April 2017 Analysis by the US Energy Information Administration (EIA) points to the country’s coal output rising 40% year-on-year to about 14.9-million short tons in the week ended April 15. The production estimate, issued on Thursday, was about 8.5% higher week-on-week. 

Despite adverse weather, Vale reports Q1 iron-ore record

By: Henry Lazenby     21st April 2017 The world’s largest iron-ore producer Vale has lifted production of the steel-making ingredient to a new record high in the first quarter ended March, touching 86.2-million tonnes despite inclement weather. The diversified miner boosted iron-ore output by 11.2% over the comparable quarter of... 

Despite adverse weather, Vale reports Q1 iron-ore record

Bushveld subsidiary, Chinese firm to build coal-fired power plant in Madagascar

By: Mia Breytenbach     21st April 2017 Aim-listed Bushveld Minerals subsidiary Lemur Resources has signed a memorandum of understanding (MoU) with Chinese State-owned hydropower engineering and construction company Sinohydro Corporation to codevelop an initial 60 MW independent power producer (IPP) coal-fired power plant and an... 

Bushveld subsidiary, Chinese firm to build coal-fired  power plant in Madagascar
Photo by Bloomberg
POWER SOURCE Lemur Resources’ mine in southern Madagascar is expected to supply coal to the Imaloto Independent power producer plan

Despite slower growth, China still key market for miners and Africa

By: Keith Campbell     21st April 2017 There can he no doubt that, for the past two decades-and-a-half or so, the biggest single influence on the global mining industry has been China. Between 2002 and 2012 that country experienced an annual average real gross domestic product (GDP) growth rate of 10.4%, as against India’s 7.6%, the... 

Despite slower growth, China still key market for miners and Africa

Kibo Mining signs supply MoU with Mbeya Cement

By: Megan van Wyngaardt     20th April 2017 Dual-listed Kibo Mining has signed a strategic memorandum of understanding (MoU) with Lafarge Tanzania subsidiary Mbeya Cement, to develop regional collaboration and to allow for reciprocal supply of materials. The MoU includes discussions with regional development partners to allow socioeconomic... 

Edenville’s coal wash plant nearly ready for shipment to Tanzania

By: Anine Kilian     19th April 2017 The coal wash plant for use at Edenville Energy’s Rukwa coal mine has been delivered to port in the UK and inspected and cleared by the appropriate authorities, ready for shipment to Tanzania. The first of the shipments is expected to leave the UK this month and will take six weeks to arrive in... 

Universal's NCC produces its first opencast coal

By: Esmarie Swanepoel     19th April 2017 South Africa-focused coal miner Universal Coal has produced the first run-of-mine coal from its New Clydesdale Colliery (NCC) opencast development. Universal said on Wednesday that opencast mining would ramp up over the next quarter, reaching steady state in the second half of 2017 and... 

Bengalla hopes to stall Mt Pleasant work

By: Esmarie Swanepoel     19th April 2017 Coal miner New Hope Corporation on Wednesday reported that its 40%-held subsidiary, Bengalla Mining Company (BMC) has started proceedings in the Land and Environment Court in New South Wales, to prohibit MACH Energy Australia from carrying out further development of its Mount Pleasant project.... 

India’s SCCL goes against trend on underground coal mining projects

By: Ajoy K Das     18th April 2017 Contrary to the general trend across the country, southern India headquartered Singareni Collieries Company Limited (SCCL) will not phase out underground mining operations, but in fact plans to open at least two more such mines over the next few years. Company officials said that SCCL was working... 

India revives coal export plans to check rising pithead stocks

By: Ajoy K Das     18th April 2017 With rising pithead stocks across the country, India is considering exports to cope with surpluses. “The government is now looking for new consumers for the surplus coal,” Minister for Power, Coal and Mines Piyush Goyal said in an address to members of the media. “We are open to the idea of... 

Aurizon rails back at work

By: Esmarie Swanepoel     18th April 2017 Three out of the four coal systems operated by freight hauler Aurizon, which make up the Central Queensland coal network (CQCN), have been reopened following floods associated with Cyclone Debbie, with trains operating under restricted conditions with some reduced capacity. Aurizon on Tuesday... 

South32 scraps $200m Australian coal acquisition from Peabody

By: Reuters     18th April 2017 South32 on Tuesday killed a $200-million deal to buy Peabody Energy's Metropolitan coal mine, in Australia, after running into competition concerns about supply of coal to local steel makers. South32, which had been pursuing its first acquisition since being spun off by global miner BHP Billiton,... 

South32 scraps $200m Australian coal acquisition from Peabody
Photo by Bloomberg
South32 CEO Graham Kerr

Eskom seeking Tegeta ‘consent’ to disclose value of Optimum settlement

By: Terence Creamer     13th April 2017 Department of Public Enterprises director-general Mogokare Seleke revealed on Thursday that Eskom’s legal representatives had approached Tegeta Resources, owner of the Optimum coal mine, to obtain “consent” in making details of a recent arbitration settlement, relating to a R2.2-billion penalty... 

Eskom seeking Tegeta ‘consent’ to disclose value of Optimum settlement
Photo by Duane Daws
Minister Lynne Brown is being asked to release details of the settlement

Keaton delivers ‘pleasing’ FY17 production

By: Natasha Odendaal     13th April 2017 JSE-listed Keaton Energy delivered “pleasing” production volumes for the financial year ended March 31, despite experiencing a 4% dip in sales. Some 2.1-million tonnes of washed two- and four-seam thermal coal from Keaton’s Vanggatfontein openpit colliery, near Delmas, were sold to State-owned... 

Botswana's 300 MW power plant stalled over $800m guarantee dispute

By: Reuters     13th April 2017 The 300 MW expansion of two units at Botswana's Morupule B coal fired power plant has been delayed due to a dispute with the contractor over an $800-million guarantee, a cabinet minister said on Wednesday. Japan's Marubeni and South Korea's Posco Energy were last year awarded the contract for the... 

Whitehaven says Australia cyclone outages to hit coking coal prices for months

By: Reuters     13th April 2017 Australia's Whitehaven Coal Ltd said on Thursday that coking coal prices would remain high for months as supply disruptions since Cyclone Debbie damaged train lines and interrupted exports reverberate through markets. Whitehaven, whose mines about 1 300 km (800 miles) south of the cyclone's path... 

FIRB clears Yancoal/Rio deal

By: Esmarie Swanepoel     13th April 2017 The Australian Foreign Investment Review Board (FIRB) has approved ASX-listed Yancoal’s $2.45-billion acquisition of Rio Tinto subsidiary Coal & Allied. The two companies in January struck a deal that will allow for an initial $1.95-billion cash payment upon the completion of the transaction in... 

Cyclone wreckage lays bare met coal's top exporter weak link

By: Bloomberg     13th April 2017 Two weeks after a cyclone tore through Australia’s biggest metallurgical coal mining basin, the industry is still reeling. The outages are a flashback to deluges in 2008 and 2010-11, which forced miners in the world’s largest exporter of the steel-making commodity to update operations with... 

Moz coal sector set for brighter future – report

By: Keith Campbell     13th April 2017 Coal will be Mozambique’s number one source of export revenues over the medium term, according to an analysis by the Economist Intelligence Unit (EIU). This will be the result of improving security in the central region of the country and rising global coal prices. Details of the EIU report were... 

AfriBusiness applies PAIA rule for Eskom, Optimum penalty clarification

By: Natasha Odendaal     12th April 2017 As media reports surface over a settlement agreement between State-owned Eskom and Optimum coal mine, business rights watchdog AfriBusiness is seeking more information on “what transpired” during the alleged payment of the fine by Tegeta Exploration & Resources. Leveraging the Promotion of Access... 

R2.3bn Anglo coal sale to Seriti  

     12th April 2017 A new South African mining company recently announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to Eskom. Mining Weekly editor... 

R2.3bn Anglo coal sale to Seriti
R2.3bn Anglo coal sale to Seriti

West Bengal to develop India’s largest coal block

By: Ajoy K Das     12th April 2017 The eastern province of West Bengal will develop India's largest coal block, the ten square kilometre Deocha Pachami coal block, at a cost of up to $1.88-billion. Moreover, provincial government officials expect total direct and indirect investment in developing the coal block, as well as... 

Sasol finalises currency hedges worth $4bn

By: Terence Creamer     11th April 2017 Energy and chemicals group Sasol reported on Tuesday that it had finalised currency hedges with a total notional amount of $4-billion for its 2018 financial year. The hedges represent about 70% of its expected net rand/US dollar exposure for the period, which runs until June 30, 2018. The... 

Sasol finalises currency hedges worth $4bn

Unions back Seriti's purchase of Anglo coal mines

By: Martin Creamer     11th April 2017 Two labour unions on Tuesday publicly backed the sale by Anglo American of coal assets to Seriti, the new black-owned start-up with aspirations to be South Africa’s next mining champion. Both the National Union of Mineworkers (NUM) and the Solidarity union put out statements welcoming the... 

Unions back Seriti's purchase of Anglo coal mines
Photo by Duane Daws
Seriti CEO Mike Teke
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