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Coal News

Price weakness stemmed from excess capital dole out – Glencore

By: Martin Creamer     27th February 2017 The commodity price weakness from 2012 to 2015 was the result of an over-allocation of capital from 2006 to 2012, Glencore CEO Ivan Glasenberg told an American audience on Monday. In an address to the BMO Metals and Mining Conference, in Miami, Glasenberg said that capital over-allocation in the... 

Buffalo Coal concludes shares-for-debt agreement

By: Megan van Wyngaardt     27th February 2017 Embattled South Africa-focused coal miner Buffalo Coal on Monday said it had completed a shares-for-debt arrangement with one of its creditors STA Coal Mining Company. Buffalo issued 4.28-million common shares to STA, at a deemed issuance price of $0.05 apiece, in settlement of about $214 345 in... 

Fortescue, Apollo said to bid for Wesfarmers coal assets

By: Bloomberg     27th February 2017 Fortescue Metals Group and Apollo Global Management are among bidders for Wesfarmers’s Australian coal operations, according to people with knowledge of the matter. Apollo submitted an indicative offer for Wesfarmers’s stakes in the Curragh and Bengalla mines by a deadline around the end of last... 

Pricing holds key to launch of private coal mining in India

By: Ajoy K Das     27th February 2017 The extent of pricing freedom for private commercial coal miners is likely to be revealed by India’s Coal Ministry next month. According to a government official, the Ministry will, at the end of March, publish the framework for opening the coal mining sector up to private miners for the first... 

Stronger rand flagged by Sasol as a key earnings risk for second half

By: Terence Creamer     27th February 2017 Fuels and chemicals group Sasol has cautioned that ongoing rand/dollar volatility could pose an earnings risk for the second half its 2017 financial year, but reports that hedges are already in place to protect it from any downward oil price pressures. The JSE-listed group reported a 38% fall in... 

Stronger rand flagged by Sasol as a key earnings risk for second half
Photo by Duane Daws
Sasol joint presidents and CEOs Bongani Nqwababa and Stephen Cornell

China's coal imports from North Korea ease after sanctions

By: Reuters     24th February 2017 China's coal imports from North Korea eased last month after new UN Security Council sanctions curbing the isolated country's sales of the fuel abroad came into effect, as Russia, Mongolia, Australia and Indonesia raised shipments, data showed on Friday. January imports eased 13% from a year... 

Global mining-sector resurgence predicted 

By: Ilan Solomons     24th February 2017 Given that the global economy is expected to grow by 3.4% this year and 3.5% in 2018, the health of global macroeconomics is good, which bodes well for a resurgence in the global mining industry during the course of this year. This is according to Standard Bank mining and metals research head Tim... 

Global mining-sector resurgence predicted
Standard Bank's Tim Clark and Sandra du Toit discuss their perceptions of the state of the global mining sector and give their predictions for the year ahead.

Rapid energy access needed in Southern Africa

     24th February 2017 The rebound in commodity prices should usher in new projects as well as the expansion of existing operations in Southern Africa’s mining industry, but the region, counteractively, has an insufficient power supply, says fast-track mobile turbine power provider APR Energy regional sales director... 

Vale’s Moatize coal operation benefiting from increased production and transport capacity

By: Keith Campbell     24th February 2017 Production at the Moatize coal mine, owned by Brazilian mining major Vale and located in the Tete province of Mozambique, hit a record of 5.5-million tons last year, 500 000 t (or 10.7%) higher than in 2015. This was composed of 3.5-million tons of metallurgical – or coking – coal and 2-million... 

Vale hits profit home run on strong production, rising iron-ore prices

By: Henry Lazenby     23rd February 2017 Brazil’s Vale, the world’s largest iron-ore producer, has swung back into the black with a net profit of $3.98-billion for 2016, boosted by higher iron-ore prices and record output. This represents a significant swing from a loss of $12.13-billion in 2015. 

Vale hits profit home run on strong production, rising iron-ore prices
Photo by Vale
Vale reported record 2016 iron-ore production, set to increase this year as the world's biggest iron-ore, S11D, mine ramps up

Analysts acclaim Glencore’s performance as good fundamentals return

By: Martin Creamer     23rd February 2017 Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and... 

Analysts acclaim Glencore’s performance as good fundamentals return
Glencore CEO Ivan Glasenberg

Petmin highlights delays in accessing new mining areas at Somkhele

By: Anine Kilian     23rd February 2017 JSE-listed Petmin’s normalised earnings decreased by 43% to 8.49c a share for the six months to December 31. The company attributed the lower earnings to lower average selling prices for anthracite exports and 12% higher operating costs as a result of delayed access to new mining areas at its... 

Edenville secures wash plant, crusher for Rukwa

By: Natasha Odendaal     23rd February 2017 Aim-listed Edenville Energy is embarking on the next phase of development at its Rukwa coal project, in western Tanzania, as it acquires a coal washing plant and crusher and appoints a wash plant engineer. The start of the process to ship and assemble the wash plant, in anticipation of starting... 

PAC again rejects Drayton South project

By: Esmarie Swanepoel     23rd February 2017 The New South Wales Planning and Assessment Commission (PAC) has again rejected Anglo American’s Drayton South coal project, maintaining that it could not coexist with nearby stud farms. The PAC recommendation comes despite the Department of Planning and Environment in September 2016 announcing... 

PAC again rejects Drayton South project

Industrial unrest brewing at CIL, risks production target

By: Ajoy K Das     23rd February 2017 Industrial unrest is once again brewing at Coal India Limited's (CIL's) operations with major trade unions threatening to disrupt the production and transportation of coal from mines across the country. The trade unions have opened up two fronts for direct action against CIL management and the... 

BC confirms mineral exploration tax credits in 5th balanced budget

By: Henry Lazenby     22nd February 2017 The British Columbia provincial government on Tuesday unveiled its fifth consecutive budget in the black, confirming critical fiscal supports for the mineral exploration industry, previously unveiled by Liberal Premier Christy Clark. The 2017/18 budget, which is expected to run a C$295-million... 

BC confirms mineral exploration tax credits in 5th balanced budget
Photo by Geoscience BC
The British Columbia provincial government has confirmed critical fiscal supports for the mineral exploration industry, previously unveiled by Liberal Premier Christy Clark

Anglo targets further $1bn in cost, volume improvements in 2017

By: Ilan Solomons     21st February 2017 Diversified miner Anglo American is this year seeking an additional $1-billion in incremental net cost and volume improvements, while also aiming to return to an investment-grade credit rating and resume dividend payments. The group has already identified 75% of these targeted net cost and volume... 

Anglo targets further $1bn in cost, volume improvements in 2017
Anglo American is aiming to have capital expenditure maintained at $2.5-billion and stay-in-business capital increased to $1.2-billion in 2017

Edenville raises £2m to advance Rukwa project to production

By: Megan van Wyngaardt     20th February 2017 Aim-listed Edenville Energy has raised £2-million through an oversubscribed subscription of 250-million new ordinary shares at 0.8p apiece. The company also issued 125-million warrants to the subscribers on the basis of one warrant for every two new ordinary shares, exercisable at 1.08p per... 

Minergy to list coal project in Botswana, also eyeing JSE

By: Martin Creamer     20th February 2017 Coal and energy company Minergy said on Monday that it will list on the Botswana Stock Exchange in the first half of this year and is also planning a Johannesburg Stock Exchange listing in 2017’s latter half. In the initial capital raising ahead of the listing of its Masama coal project, Minergy,... 

Minergy to list coal project in Botswana, also eyeing JSE
Minergy CEO Andre Boje

Pan African shares fall on fatality-linked mining suspension at Evander

By: Martin Creamer     20th February 2017 The share price of Pan African Resources fell by more than 8% in early trade on Monday after the company issued a stock exchange news service notice announcing a fatality-linked 55-day mining suspension of the Evander shafts where studies recently identified critical infrastructure issues... 

Pan African shares fall on fatality-linked mining suspension at Evander
Photo by Duane Daws
Pan African Resources CEO Cobus Loots

India’s Coal Ministry prods ICVL to speed up coal production, acquisitions

By: Ajoy K Das     20th February 2017 India’s Coal Ministry has directed International Coal Ventures Limited (ICVL) not to waste time in operationalising existing overseas coal blocks or delay the acquisition of new assets. It also warned ICVL that delays in achieving these objective were "unacceptable". 

Outa calls for judicial enquiry into Eskom’s affairs 

By: Natasha Odendaal     17th February 2017 The Organisation Undoing Tax Abuse (Outa) on Friday called for a full judicial commission of enquiry into State-owned Eskom's affairs, following the release of a redacted version of the so-called Dentons report into corruption at the parastatal. International legal firm Dentons conducted a... 

Qld grants Olive Downs coordinated project status

By: Esmarie Swanepoel     17th February 2017 The Queensland government has awarded the A$1-billion Olive Downs coal mine coordinated project status, allowing the independent Coordinator-General to efficiently coordinate the environmental assessment process for the coal mine across both state and federal agencies. Minister for State... 

MAC laments Canada’s declining mining competitiveness

By: Henry Lazenby     17th February 2017 Canada's mining competitiveness is declining, while exploration and mining investment dollars are flowing offshore, a new report by the Mining Association of Canada (MAC) has found. “Very simply, Canada is not as attractive as it used to be for mineral investment and competition for those dollars... 

MAC laments Canada’s declining mining competitiveness
Photo by Agnico Eagle Mines
Agnico Eagle's Meadowbank mine, Nunavut

Coal terminal avoiding ‘catastrophic failure’, doubling equipment capacity

By: Victor Moolman     17th February 2017 Phase 1 of the Richards Bay Coal Terminal (RBCT) yard machine upgrade, in KwaZulu-Natal, will be completed in February 2018, says engineering and infrastructure advisory services company Aurecon. 

Coal terminal avoiding  ‘catastrophic failure’,  doubling equipment capacity
Photo by Duane Daws
SHIP LOADER The Richards Bay Coal Terminal averaged 76 vessels a month in 2016, peaking at 95 vessels in November

Convention aims to bridge communication gap

By: Simone Liedtke     17th February 2017 As a continually evolving industry that operates globally, sometimes the biggest difficulty for the mining industry is getting the right people together in one place to discuss their challenges and find ways to address and, ultimately, overcome them, says Prospectors and Developers Association of... 

Convention aims to bridge communication gap
EIGHTY-FIFTH CONVENTION Prospectors and Developers Association of Canada's 2017 convention will feature more than 400 exhibitors at the investors exchange and 500 at the trade show

Digitisation of project management imperative for project success

By: Victor Moolman     17th February 2017 Business management consultant SSG Consulting will continue to focus on project management and execution as its core business this year, with the intent of increasing its drive to further improve operational throughput of organisations and projects by 30% to 50%, despite the challenges facing the... 

Digitisation of project management imperative for project success
Photo by Duane Daws
MINE UPGRADES The adoption of big data, cloud, business intelligence, artificial intelligence, mobile technology and the digitisation of business will be the primary driver of successful organisations over the next five years

Group to split to improve customer focus

     17th February 2017 Swedish sustainable productivity solutions provider Atlas Copco will create a new company focused on mining and civil engineering, should it receive backing at its annual general meeting in April. 

Group to split to improve customer focus
STREGTHENING FOCUS Mining and Rock Excavation Technique and Construction Tools are expected to benefit from a more focused management responsibility

Localised conveyor belt supply to boost operational efficiencies

By: Simone Liedtke     17th February 2017 Over the past three to four years, metal prices have dropped precipitously and North American mining operators have been forced to implement more operational efficiencies, states conveyor belt vulcaniser product provider Shaw Almex CEO Tim Shaw. 

Localised conveyor belt supply to boost operational efficiencies
CONVEYOR BELT SOLUTION Many operators have turned to offshore conveyor belt suppliers, resulting in premature product failures and unreliable supply

Rehabilitation plan important for proper project management

By: Victor Moolman     17th February 2017 Rehabilitation should be included and budgeted for in a project’s initial mine plan to ensure proper project management over the entire mine life cycle, says nonprofit organisation Land Rehabilitation Society of South Africa (LaRSSA) president Raina Hattingh. 

Rehabilitation plan important for proper project management
Photo by Victor Moolman
OFTEN NEGLEGTED Unfortunately, the need for including rehabilitation components early on in mine plans is often neglected in South Africa

Major South African coal extension project on cards – South32

By: Martin Creamer     16th February 2017 A decision will be taken in the June quarter on go-ahead for the Klipspruit Life Extension coal project in Mpumalanga, which is said to have robust economics. The original BHP Billiton capital expenditure (capex) of $500-million-plus for the two-year development has been more than halved under... 

Major South African coal extension project on cards – South32
South32 CEO Graham Kerr

Rio said to seek bank pitches on $1.5bn coal mine sale

By: Bloomberg     16th February 2017 Rio Tinto Group has asked banks to pitch for a role advising on the divestment of its last remaining coal operations in Australia, people with knowledge of the matter said. The London-based company has decided to pursue a sale of its Hail Creek and Kestrel mines after receiving unsolicited... 

CIL seeks to buy into operational foreign coal mines

By: Ajoy K Das     16th February 2017 Coal India Limited (CIL) plans to enter into strategic equity investment and production sharing agreements with the owners of operational coal mines outside of India, rather than the outright acquisition of greenfield coal blocks, as it had previously attempted. CIL had appointed a merchant... 

Kibo awaits MCPP Esia certification

By: Megan van Wyngaardt     15th February 2017 Dual-listed Kibo Mining has completed the environmental- and social-impact assessment (Esia) for its Mbeya coal-to-power project (MCPP), in Tanzania, and is now awaiting certification. CEO Louis Coetzee on Wednesday said the completion of the Esia work marked another major step forward in the... 

Atrum prepares for busy 2017

By: Esmarie Swanepoel     14th February 2017 Coal project developer Atrum Coal has revealed plans to advance its Groundhog North project, in Canada, during this year. The company on Tuesday said it plans to submit an application for a small mine permit this year, to enable Atrum to start commercial operations at a rate of 250 000 t/y. 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’  

By: Terence Creamer     10th February 2017 Steel producer ArcelorMittal South Africa (AMSA) is optimistic that Eskom, with the support of the energy regulatory, could extend pricing incentives to it and other energy-intensive businesses in light of its surplus position and government’s appeal for interventions to reignite growth in the... 

AMSA keen to tap power tariff deal as Eskom mulls ‘incentive pricing’
AMSA CEO Wim de Klerk makes the case for further protection for domestic steel industry. Video and editing: Darlene Creamer 10.2.2017

New Bill on way to boost State involvement in mining

By: Martin Creamer     10th February 2017 A new Bill is to be presented to the South African Parliament to strengthen the State’s role in the industry, currently dogged by legislative, regulatory and administrative tensions between government, business and labour. The Mining Company of South Africa Bill will be presented to Cabinet and... 

New Bill on way to boost State involvement in mining
President Jacob Zuma
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