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Mines need to cut emissions and increase renewables – Corporate Knights

By: Simon Rees As the population of the planet doubles between now and 2050, the drive to cut carbon emissions will continue to gather pace. At a recent meeting between heads of state in China, the US announced its intention to reduce carbon emissions by 26% to 28% by 2025. China declared its emissions would... 

Russia's Amaam North proves viable for Tigers Realm

By: Esmarie Swanepoel A bankable feasibility study (BFS) into ASX-listed Tigers Realm Coal’s Amaam North project, in Russia, has revealed that the project could be one of the lowest operating cost coking coal mines in the world. Based on a planned production of about one-million tonnes a year of coking coal, over an... 

Gujarat hopes for halt of Wollongong raising

By: Esmarie Swanepoel India’s Gujarat NRE India has appealed to the Australian Takeovers Panel to halt an entitlement offer of ASX-listed Wollongong Coal, which was launched earlier this month. At the start of November, Wollongong Coal announced its intention to raise up to A$66.68-million through an accelerated pro... 

Jameson weighs options over cancelled applications

By: Esmarie Swanepoel ASX-listed coal hopeful Jameson Resources told shareholders on Friday that it would "explore its options" after the British Columbia Ministry of Energy and Mines cancelled five of the company’s outstanding applications on the Dunlevy project area. Jameson said in a statement that the Chief Gold... 

Mozambique continues to attract coal miners, despite low market prices

By: Keith Campbell Two more companies have been granted coal mining concessions in the Tete province of Mozambique, despite the fall in global coal prices which have put the already operating mines in the province under pressure. The new concessions were granted to the Eurasian Natural Resources Corporation (better... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation

By: Creamer Media Reporter TSX- and HKSE-listed SouthGobi Resources is delaying payment to the China Investment Corporation (CIC) of about $8.1-million in cash – the November 2014 instalment of cash interest due on the secured convertible debenture it entered into with a wholly owned subsidiary of the CIC. As of Thursday,... 

SouthGobi seeks funding to pay delayed $8.1m interest to China Investment Corporation
Ovoot Tolgoi

India announces draft rules for maiden auction of coal blocks

By: Ajoy K Das India’s Coal Ministry has released draft guidelines for the auction of 74 coal blocks to be completed within the next four months. The Coal Ministry document said that the government would conduct a two stage competitive bidding process for allocation of the coal blocks under the newly... 

India announces draft rules for maiden auction of coal blocks

Guildford closer to BNU production

By: Esmarie Swanepoel Takeover target Guildford Coal on Thursday told shareholders that its Baruun Noyon Uul (BNU) mine, in Mongolia, would start production following the successful completion of the trial batches of coal. Previously known as the North pit, BNU forms part of Guildford’s South Gobi project, and has a... 

Glencore wins interdict against NUM strike

By: Sapa Mining company Glencore won an interim interdict in the Labour Court on Wednesday against the National Union of Mineworkers conducting a secondary strike at its Optimum Coal mine. "Glencore will participate in the review process by the [Commission for Conciliation, Mediation and Arbitration] CCMA... 

Wescoal buys prospecting right adjacent to Khanyisa

By: Natasha Odendaal JSE-listed Wescoal has bolstered the life of its wholly owned subsidiary Wescoal Mining’s Khanyisa Phase 2 operations through the R4.6-million buyout of Catwalk Investments’ Sarie Marais prospecting right, in Mpumalanga. The purchase price was excluding value-added tax (VAT) and the deal included... 

Dividend-bound Keaton firming up new coal projects

By: Martin Creamer Coal-mining junior Keaton Energy, which invested R275-million in operations while boosting its cash position by 63% to R113.2-million in the six months to September 30, is firming up two new coal-mine projects that will nudge the JSE-listed company towards producing five-million tons of coal a... 

Dividend-bound Keaton firming up new coal projects
Photo by Duane Daws
Keaton CEO Mandi Glad

Rio Tinto’s Mt Thorley Warkworth extension endorsed for approval

By: Esmarie Swanepoel The New South Wales Department of Planning and Environment has endorsed mining giant Rio Tinto’s extension of its Mt Thorley Warkworth coal mine, subject to a number of stringent conditions. In June this year, Rio released a new planning application for the extension project, after the New South... 

Altura announces coal spin-off

By: Esmarie Swanepoel Diversified junior Altura Mining this week announced that it would spin-out its coal assets into a new Singapore-based vehicle, which would be separately listed on the Catalist platform. Altura currently owns one-third of the Delta coal mine, in East Kalimantan, as well as a 70% stake in the... 

Eskom UCG commercialisation date ‘slips’ amid permitting delays 

By: Leandi Kolver State-owned power utility Eskom was no longer targeting 2017 for the commercialisation of underground coal gasification (UCG) at its Majuba power station, in Mpumalanga, owing to delays in receiving regulatory approvals. The utility said in October last year that it would start work on a... 

Eskom UCG commercialisation date ‘slips’ amid permitting delays

India to align coal and CBM legal environment to attract private investors

By: Ajoy K Das The Indian government will align its mining and gas exploration legislation to facilitate the exploration and mining of coal and coalbed methane (CBM) by domestic and foreign investors. A senior official in the Coal Ministry said that various legislation relating to the coal and gas sectors... 

Indian government holds off on CIL restructuring

By: Ajoy K Das The Indian government would not initiate any immediate move towards restructuring Coal India Limited (CIL) to avoid jeopardising the transfer of coal blocks that were earlier cancelled by the Supreme Court. The Indian government mandated global consulting firm Deloitte in 2013 to undertake a... 

Queensland backs Adani rail plan, open to deals with Galilee miners

By: Esmarie Swanepoel Queensland Premier Campbell Newman on Monday announced that the state would invest in infrastructure projects to allow for the exploitation of resources. Newman said that the state government would work with resource companies to make strategic investments that could create up to 28 000 new... 

Flood, fatality hit Buffalo Coal Q2 output

By: Natasha Odendaal JSE-listed Buffalo Coal’s second-quarter coal output has been hit by flooding at one of its operations and a fatality at another. In the three months to September 30, the company’s operations delivered total run-of-mine (RoM) production of 377 000 t, a decline when compared with the 446 000 t... 

Glencore to idle Australian coal mines for three weeks

By: Esmarie Swanepoel Mining giant Glencore on Friday confirmed that it would implement production shut-downs across its Australian coal operations for a period of three weeks, starting in mid-December. The miner said that the shutdowns would result in a reduced output of some five-million tonnes from its Australian... 

Glencore to idle Australian coal mines for three weeks

Share issue, drawdown likely to dent Keaton’s H1 earnings

By: Natalie Greve Coal producer Keaton Energy expects headline earnings a share for the six months ended September 30 to drop by between 27% and 32% from the prior quarter’s 19.4c to between 13.2c and 14.2c apiece. The company added in a trading statement on Friday that basic earnings a share for the half-year... 

Australian thermal coal prices nudge higher in thin trade

By: Reuters Australian physical coal prices edged higher in thin trade on Thursday, although still near five-year lows, due to slightly reduced available supply for spot deals. Cargoes for delivery in December from Australia's Newcastle terminal were 30c higher at $63.00 a tonne at 1650 GMT. Cargoes for... 

EY’s Canadian Mining Eye falls 15% during Q3, expects sluggish Q4

By: Henry Lazenby Professional services firm EY's quarterly ‘Canadian Mining Eye’ index fell 15% in the September quarter, paring a 9% gain during previous quarter. The firm said on Thursday that the fall in the index was in line with the S&P/TSX Composite index, which also plummeted 15% during the period, while... 

EY’s Canadian Mining Eye falls 15% during Q3, expects sluggish Q4

Vale to dispose of parts of its Mozambique coal and infrastructure projects

By: Keith Campbell Brazilian major mining group Vale has revealed that it will, in the near future, announce the sale of a share in its Moatize coal operation in Mozambique. This was stated by group CEO Murilo Ferreira in a recent teleconference about Vale’s financial performance during the third quarter (3Q14).... 

Coal of Africa secures $21m cash in first-stage equity raise

By: Martin Creamer Triple-listed coal exploration and project development company Coal of Africa Limited (CoAL) has completed the first stage of its equity capital raising exercise. The South Africa-focused company, which trades its shares in Sydney, London and Johannesburg, said on Thursday that it had received... 

Coal of Africa secures $21m cash in first-stage equity raise
Photo by Duane Daws
Coal of Africa CEO David Brown

Sasol pursuing flexible US cracker funding plan to leave GTL headroom 

By: Terence Creamer In a reversal of traditional foreign-investment flows, an African company is poised to make the largest-ever capital investment into the southern US State of Louisiana, with a second, even bigger, investment under investigation. JSE-listed energy and chemicals group Sasol is poised to invest... 

Sasol pursuing flexible US cracker funding plan to leave GTL headroom
The existing Lake Charles facility where Sasol already has a 455 000 t/y operational ethane cracker

India turns down coal reject supply linkages to power plants

By: Ajoy K Das In a setback to 'coal-reject’-based power plants, the Indian government has ruled out offering any long-term supply linkages as existing coal washeries do not generate a sufficient quantity of low-grade feedstock. The decision was taken by an interMinisterial committee (IMC) set up by the Coal... 

Struggling miners see silver lining in FX, cheaper oil

By: Reuters Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize - weaker local currencies and falling oil prices that will help trim their costs. Metal prices have plunged to multi-year lows as the US dollar strengthened against a basket of... 

Firestone raises $5m for Waterberg coal project development

By: Leandi Kolver Coal developer Firestone Energy on Monday announced that it had raised $5-million through the issue of convertible notes to advance the development of its Waterberg coal project, in Limpopo. The funds, to be provided by Four Oaks Credit Fund, were proposed to be drawn down over two tranches of... 

Rukwa power plant PFS to be completed early Dec

By: Leandi Kolver The prefeasibility study (PFS) for Tanzania-focused Kibo Mining’s planned 300 MW power plant at its Rukwa coal-to-power project (RCPP), in Tanzania, would start immediately, with the full study to be completed early next month, the company announced on Monday. Kibo CEO Louis Coetzee said that,... 

Yancoal seeks to raise $2.3bn to repay debt, fund growth

By: Esmarie Swanepoel Chinese-owned miner Yancoal, which operates mines across Australia, on Monday announced a subordinated capital note offering in which it hoped to raise as much as $2.3-billion. The company would offer. 2.32 subordinate capital notes for every 100 shares held, with the company’s largest... 

MetroCoal bids for rest of Cape Alumina as stake exceeds 90%

By: Esmarie Swanepoel ASX-listed MetroCoal has made strides in its takeover of fellow-listed Cape Alumina, after major shareholder China Xinfa Group Corporation accepted MetroCoal’s offer for its 12.1% shareholding. MetroCoal’s total shareholding in Cape Alumina now exceeded 90%, and the company said on Monday that... 

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