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Coal News

Yancoal to sell 16.6% of newly acquired Hunter Valley mines

By: Esmarie Swanepoel     Updated 39 minutes ago Reports emerged on Thursday that diversified miner Glencore has reached an agreement to purchase some of the Hunter Valley assets that ASX-listed Yancoal recently acquired from mining major Rio Tinto. The reports, carried in several Australian news outlets, comes as Yancoal holding company... 

Cash-gushing Anglo restarts dividend as earnings double

By: Martin Creamer     Updated 47 minutes ago The underlying earnings of diversified mining company Anglo American have more than doubled in the six months to June 30, when the generation of cash in the half year was more than all of 2016. Earnings hit the $1.5-billion mark and cash flow soared to $2.7-billion. 

Cash-gushing Anglo restarts dividend as earnings double
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Deputy Minister ‘uncomfortable’ at not being consulted
Photo by Duane Daws
Deputy Mineral Resources Minister Godfrey Oliphant

Stop moratorium now, NUM instructs DMR

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

Kibo reports accelerated progress at Mbeya

By: Natasha Odendaal     26th July 2017 The Mbeya coal-to-power project (MCPP) was seeing accelerated momentum, with a fresh round of successful follow-up meetings with government departments and other Tanzanian stakeholders concluded, AltX- and Aim-listed Kibo Mining said on Wednesday. The Tanzania-focused mineral exploration and... 

Tigers secures second licence in Russia

By: Esmarie Swanepoel     26th July 2017 ASX-listed Tigers Realm Coal has been awarded a second extraction and exploration licence at the Amaam project, in Russia. The new licence is located to the south of the recently launched Project F operations, and will give Tigers Realm long-term tenure and mining rights over Area 3 of the Amaam... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging  

By: Martin Creamer     25th July 2017 Kumba Iron Ore CEO Themba Mkhwanazi on Tuesday expressed concern about the mineral rights and mining transaction moratorium that has been gazetted by Mineral Resources Minister Mosebenzi Zwane, especially because it followed his agreement to suspend the implementation of Mining Charter Three... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging
Kumba Iron Ore CEO Themba Mkhwanazi reported a reinstatement of the dividend at the presentation of half-year results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video: Darlene Creamer. Video Editing: Lionel da Silva

US electric industry knew of climate threat decades ago – report

By: Reuters     25th July 2017 The US electric industry knew as far back as 1968 that burning fossil fuels might cause global warming, but cast doubt on the science of climate change and ramped up coal use for decades afterward, an environmental watchdog group said on Tuesday. The California-based Energy and Policy Institute,... 

Chamber of Mines challenges mining rights freeze in court

By: Reuters     25th July 2017 South Africa's Chamber of Mines has lodged an urgent court application to prevent the mines minister from suspending the issuance of new mining and prospecting rights, the industry body said on Tuesday. "The industry has no option but to proceed with court action to ensure that the minister acts... 

India likely to defer selling stake in country’s largest miner

By: Ajoy K Das     25th July 2017 Fearing poor valuations owing to lower production and offtake, the Indian government is likely to defer plans to divest holdings in Coal India Limited (CIL). The government had planned to sell a 10% equity stake in the current financial year, but indications are that this will be deferred until... 

Sasol expects FY earnings to fall as much as 21%

By: Reuters     25th July 2017 South African petrochemicals group Sasol said on Tuesday it expected its full-year headline earnings to fall as much as 21%, hit by lower oil prices and a stronger rand currency. Sasol said headline earnings per share for the year to end June are expected to decrease by between 11% and 21% from... 

Cyclone Debbie impacts on Wesfarmers production

By: Esmarie Swanepoel     25th July 2017 Severe weather conditions associated with Cyclone Debbie have seen coal production at the Curragh mine, in Queensland, decline during the three months ended June. ASX-listed Wesfarmers on Tuesday reported that coal production for the quarter under review was down 3.2% on the previous quarter, to... 

TSX falls, weighed by Barrick and other gold miners

By: Reuters     24th July 2017 Canada's main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold lost nearly 5% after a company it majority owns, Acacia Mining, was hit with a bill for $190-billion in unpaid taxes in Tanzania. Railway stocks, big banks and pipeline and other energy stocks also put... 

Botswana coal mine stalls as farmers reject compensation deal

By: Reuters     24th July 2017 Development of a new 1.35-million-tonne-a-year coal mine in Botswana has stalled due to a dispute over compensation payable to farmers holding surface rights in the proposed mining area, the company developing the mine said on Monday. The open cast mine is meant to supply coal to a new 300 MW... 

India’s Steel Ministry seeks to relax coal block auction rules

By: Ajoy K Das     24th July 2017 Stung by the lack of response to the auctioning of coking coal blocks exclusively for steel companies, India’s Steel Ministry is seeking to tweak the auction rules. The Steel Ministry has started work in conjunction with its counterparts in Coal Ministry to ensure certain auction rules are made... 

Botswana invites bids for coal-to-liquids project

By: Martin Creamer     24th July 2017 The Botswana government is seeking prospective bidders for the establishment of a coal-to-liquids plant in the Southern African county, with support from its State-owned oil company, Botswana Oil. Botswana Oil, which manages State-owned strategic fuel reserve facilities, says in a... 

Botswana invites bids for coal-to-liquids project
Photo by Creamer Media
Mineral Resources, Green Technology and Energy Security Minister Sadique Kebonang at Botswana Resource Sector Conference in June

New association launched to support emerging truck operators 

By: Ilan Solomons     21st July 2017 The newly launched Emerging Truckers Association of South Africa (Tasa) aims to assist in meaningfully transforming the local truck and freight industry, with a long-term view of ensuring work for women and black truck owners and operators. This is according to Tasa convener Mary Phadi, who was... 

New association launched to support emerging truck operators
Photo by Duane Daws
Emerging Truckers Association of South Africa convener Mary Phadi

Moratorium infers intention to circumvent agreement – Leon 

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debt and continue to improve safety standards, while improving overall operating capability to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking to... 

Buffalo Coal in push to slash debt and improve safety and operational efficiency

Buffalo Coal in push to slash debt and improve safety and operational efficiency

By: Ilan Solomons     21st July 2017 South African bituminous and anthracite coal miner Buffalo Coal is determined to repay all its debts and continue to improve safety standards while improving overall operating capacities to ensure its operations become optimally efficient, says interim CEO Rowan Karstel, who was speaking with... 

Buffalo Coal in push to slash debt and improve safety and operational efficiency

Charter’s BEE ‘top-up’ provision may be unconstitutional

     21st July 2017 The new “top-up” provision in the latest Mining Charter gazetted on June 15, may prove to be unconstitutional and may lead to further expensive legal action by the mining industry, states Fasken Martineau partner and global mining group member Nicola Jackson. In a statement published on June 15,... 

Charter’s BEE  ‘top-up’ provision may be unconstitutional
GOVERNMENT PAYING LIP SERVICE? The controversial Mining Charter’s new procurement targets stipulate that 80% of services be performed by black economic-empowerment entities

Lack of confidence in black businesses cripples development

By: Nadine James     21st July 2017 Materials handling and alternative mining solutions expert Ncamiso Mining is expanding its presence in Welkom, where it sees strong potential to grow and support local black-owned and black economic-empowerment (BEE) entities across the various needs of their operations in the area. However,... 

Lack of confidence in black businesses cripples development
SYMBIOTIC RELATIONSHIP The sharing of knowledge and experience would prove invaluable to black-owned companies and, ultimately, benefit all the businesses in the mining sector

Universal eyeing 3Mt coal output this year

By: Ilan Solomons     21st July 2017 ASX-listed coal miner Universal Coal anticipates that its Kangala and New Clydesdale Colliery (NCC) mines, in Mpumalanga, will deliver an estimated three-million tons of coal in the 2017 financial year, ended June 30. Kangala, near Delmas, produced an estimated 2.4-million tons and NCC, near... 

Universal eyeing 3Mt coal output this year
Photo by Duane Daws
UPPING OUTPUT Kangala, produced an estimated 2.4-million tons and NCC, produced 540 000 t of coal. Combined, the two mines delivered a 47% year-on-year production increase

Zululand Anthracite Colliery unveils new 50 t/h wash plant

By: Ilan Solomons     21st July 2017 Investment company Menar Holding’s Zululand Anthracite Colliery (ZAC), near the town of Ulundi commissioned its new wash plant, last month. The new coal processing plant has 50 t/h processing capacity and is expected to wash three-million tons of discard material over the course of the next five... 

Zululand Anthracite Colliery unveils new 50 t/h wash plant
Photo by Zululand Anthracite Colliery
ROYAL RIBBON CUTTING King Goodwill Zwelithini kaBhekuzulu and Zululand Anthracite Colliery MD Vuslat Bayoglu cut the ribbon at the new wash plant

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Diamond output leap helps Anglo
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Isaac Plains delivers strong quarter

By: Esmarie Swanepoel     20th July 2017 Coal miner Stanmore Coal has reported a record June quarter, with production up 59% on the previous quarter. The Isaac Plains mine, in Queensland, produced 564 000 t run-of-mine (ROM) coal during the three months to June, which was up from the 355 000 t produced in the previous quarter. 

State capture casts long shadow over Eskom’s results  

By: Terence Creamer     19th July 2017 South Africa’s worst kept corporate secret was confirmed on Wednesday, when Eskom reported a sharp fall in after-tax profits to R888-million in 2017, from over R5-billion in the previous financial year. However, the results were overshadowed by serious allegations of corruption and... 

State capture casts long shadow over Eskom’s results
Interim Eskom CEO Johnny Dladla on his first 21 days and his main priorities for the embattled utility. Camera Work & Editing: Darlene Creamer. Recorded: 19.7.2017

Sluggish growth to see Indian national oil companies under stricter oversight

By: Ajoy K Das     19th July 2017 Responding to sluggish growth in domestic oil and natural gas production, the Indian government has brought national oil companies (NOCs) under stricter oversight, including daily reporting of production data from each field operated by these companies. The NOCs also have to submit to government... 

Construction on Exxaro’s new offices to start in September

By: Anine Kilian     18th July 2017 Real estate investment trust Growthpoint Properties has started the multimillion-rand development of a new head office for diversified miner Exxaro Resources. Exxaro’s new corporate headquarters will consolidate its current offices in Pretoria and Johannesburg into a single workspace, located at... 

Request for SIU probe of Eskom submitted to President Zuma

By: Terence Creamer     18th July 2017 Public Enterprises Minister Lynne Brown confirmed on Tuesday that she had submitted a formal request to President Jacob Zuma for the establishment of a Special Investigations Unit (SIU) investigation into allegations of impropriety at State-owned utility Eskom. Speaking on the sidelines of the... 

Request for SIU probe of Eskom submitted to President Zuma
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Blair Athol poised for sales in August

By: Esmarie Swanepoel     18th July 2017 The Blair Athol coal mine, in Queensland, is on track to deliver its first coal sales in August, ASX-listed TerraCom reported on Tuesday. The project is expected to ramp-up to a production rate of two-million tonnes a year by the fourth quarter of 2017. 

Rio Tinto cuts iron-ore and coal guidance

By: Esmarie Swanepoel     18th July 2017 Diversified major Rio Tinto has revised its full year production guidance for iron-ore and coal, as rail maintenance in the Pilbara and Cyclone Debbie in Queensland, took their toll. During the three months to June, Rio Tinto produced 79.8-million tonnes of iron-ore from its Pilbara operations... 

Rio Tinto cuts iron-ore and coal guidance

Vitol drops plan to buy Gupta stake in RBCT

By: Bloomberg     18th July 2017 Vitol Group, the world’s largest independent oil trader, walked away from a deal to buy a stake in the Richards Bay Coal Terminal from a company controlled by South Africa’s Gupta family. “The consortium comprising Vitol and Burgh Group Holdings will not be proceeding with the acquisition,” the... 

Vitol drops plan to buy Gupta stake in RBCT

Nine recommended improvements should charter renegotiation ensue

By: Martin Creamer     17th July 2017 The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert... 

Nine recommended improvements should charter renegotiation ensue
Photo by Duane Daws
Herbert Smith Freehills Africa partner and co-chair Peter Leon

Eskom refutes cash-crunch reports

By: Reuters     17th July 2017 South African power producer Eskom is not facing liquidity challenges, the utility said on Sunday, after media reports alleging it would be unable to pay salaries by November. Eskom, which produces nearly all of the electricity in Africa's most industrialised economy and exports energy to... 

North American metals and mining sector provides weak covenant protections – Moody’s

By: Henry Lazenby     15th July 2017 High-yield bonds issued in the metals and mining sector provide weak covenant protection, Moody's Investors Service says in a new report issued on Friday. The average covenant quality (CQ) score under the credit rating agency's scoring criteria for the 56 North American metals and mining... 

Chamber wins round one in battle against mining charter

By: Martin Creamer     14th July 2017 In what is a clear first round victory for the Chamber of Mines of South Africa against the errant Department of Mineral Resources (DMR), Mineral Resources Minister Mosebenzi Zwane has agreed to suspend the implementation of the controversial Mining Charter Three until after the High Court has... 

Chamber wins round one in battle against mining charter
Chamber CEO Roger Baxter – chamber wins first round in fight against devastating Mining Charter Three
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