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Japan push into Africa resources sputters, helps China

By: Reuters     Updated 2 hours 42 minutes ago A Japanese government drive to secure access to resources in Africa has sputtered as some companies shy away from investing due to slumping commodity prices and worries over political stability, helping China as it races to import raw materials from the continent. Around two years ago, Japan said... 

CIL incremental production to be offered under auctioned supply linkages

By: Ajoy K Das     Updated 2 hours 54 minutes ago In a bid to placate opposition, India’s Coal Ministry has proposed that only incremental coal produced by Coal India Limited (CIL) would be earmarked for supplies through auctioned linkages to user industries. According to a proposal firmed up by an inter-Ministerial committee, user industries... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit

By: Martin Creamer     Updated 3 hours ago Banks have fallen over themselves to grant an eventual $15.25-billion worth of revolving credit facilities to diversified mining and marketing major Glencore, as part of a refinancing exercise. Initially launched at $14-billion, the credit facilities of the London-, Hong Kong- and... 

Banks fall over themselves to grant Glencore $15.25-billion in revolving credit
Photo by Bloomberg
Iavn Glasenberg

Flow-through share scheme a major source of funds for Canadian juniors in challenging market

By: Henry Lazenby The challenging global capital marketplace has seen the junior mining exploration sector struggle to obtain the funds it needs to look for and find the mineral deposits that will become tomorrow’s new major mines. However, if it were not for Canada’s innovative flow-through share tax incentive,... 

Flow-through share scheme a major source of funds for Canadian juniors in challenging market

India seeks more private-sector investment in coal mining

By: Keith Campbell In a major reform that is set to transform India’s coal mining sector, the national government in New Delhi is getting ready to auction coal blocks, the production from which would be sold on the open market, to the private sector. Hitherto, private sector companies in India could only own and... 

Canadian Mining Eye Index slows decline – EY

By: Henry Lazenby Professional services firm EY’s Canadian Mining Eye Index had slowed its decline in the three months ended March 31, falling only 1% compared with a 12% decline in the fourth quarter last year. The index, which tracked the Canadian mining sector performance of 100 TSX- and TSX-V-listed midtier... 

Quick action needed to prevent collapse of global coal sector – Prevost

By: Martin Creamer Quick action was needed to prevent the collapse of the global coal sector, XMP Consulting senior coal analyst Xavier Prevost warned on Thursday. Addressing the Fossil Fuel Foundation junior coal mining conference – from which two Department of Mineral Resources (DMR) officials down to speak... 

Quick action needed to prevent collapse of global coal sector – Prevost

Norway oil fund may have to sell out of up to 75 firms due to coal ban

By: Reuters Norway's $900-billion wealth fund may have to sell its stakes in up to 75 companies once new rules for limiting coal investments go into effect in a radical shift meant to lessen the impact of climate change, officials said on Thursday. Parliament's finance committee agreed a cross-party deal on... 

Andile Sangqu to head Anglo South Africa 

By: Martin Creamer Andile Sangqu, former Xstrata and current Impala Platinum executive and new VP of the Chamber of Mines of South Africa, has sprung to further prominence as the new executive head of Anglo American South Africa. Anglo American plc also announced on Thursday that Kumba Iron Ore CEO Norman Mbazima... 

Andile Sangqu to head Anglo South Africa
Norman Mbazima (left) and Andile Sangqu

India’s SCCL lines up $80m for overseas acquisition

By: Ajoy K Das India’s Singareni Collieries Company Limited (SCCL) has set up a corpus of about $80-million to acquire an equity stake in an overseas coal block. The southern India-based miner is seeking to pick up the stake to secure coal supplies of at least five-million tons a year, as part of a plan to ramp... 

India’s SCCL lines up $80m for overseas acquisition

S African power plants face 17Mt coal shortfall 

By: Reuters South African power utility Eskom faces a 17-million tonne coal shortfall by 2017 at its coal-fired power plants, a Cabinet Minister said on Wednesday. The shortfall is anticipated in 2015 at Matla, Tutuka and Hendrina power stations and in 2016 at Kriel and Arnot Power Stations, Public... 

S African power plants face 17Mt coal shortfall
Photo by Duane Daws
Kriel power station

Does Eskom have a maintenance plan? 

By: Terence Creamer When the Eskom board suspended four executives in March, Public Enterprises Minister Lynne Brown based her support for the move largely on what she perceived as a lack of “credible information” flowing from the managers on a range of issues, including plant instability and maintenance. In the... 

Does Eskom have a maintenance plan?

Kibo advances DMFS at newly renamed Mbeya project

By: Natalie Greve The definitive mining feasibility study (DMFS) for Phase 2 of Tanzania-focused mineral explorer Kibo Mining’s Mbeya coal-to-power project, in Tanzania, remains on schedule and “well” within budget, with early results indicating the potential for “signicant” reductions in the project’s operating... 

Kibo advances DMFS at newly renamed Mbeya project

SA energy policy informed by entrenched mining interests – NPC commissioner 

By: Natalie Greve National Planning Commission (NPC) commissioner Tasneem Essop has highlighted a growing global movement against the continued use of coal as a source of energy, telling a panel discussion on Monday that South Africa’s coal-fired power station build programme and continued reliance on fossil fuels... 

SA energy policy informed by entrenched mining interests  – NPC commissioner

SouthGobi Resources’ TSX delisting review deferred by a month

By: Henry Lazenby The TSX has deferred a decision to delist Mongolia-focused coal miner SouthGobi Resources’ stock to late next month. The company believed that the extension would give it enough time to continue implementing its proposed funding plan and allow it to demonstrate that it would be compliant with the... 

Arch Coal's NYSE stock listing under review

By: Henry Lazenby US coal producer Arch Coal has six months to, once more, become compliant with NYSE requirements, having been issued a notice of noncompliance with the exchange’s continued listing standards. Under NYSE rules the average closing price of a listed company's common stock needed be at least $1 a... 

CIL to dump Mozambique investment only after government nod

By: Ajoy K Das A final decision on producer Coal India Limited (CIL) aborting its Mozambique investments will only be taken in September or October, after the impact on diplomatic and economic bilateral relations between the two countries has been assessed. According to government officials, CIL’s "unofficial"... 

Alpha Natural affiliates to downsize Central Appalachian mining ops

By: Henry Lazenby Several operating affiliates of US coal miner Alpha Natural Resources on Friday notified more than 500 employees that their mining and processing operations would probably be idled. NYSE-listed Alpha’s affiliates gave 439 employees at Rockspring Development's Camp Creek underground mine and... 

Alpha Natural affiliates to downsize Central Appalachian mining ops

Buffalo considers restructuring, placed under TSX delisting review

By: Megan van Wyngaardt Troubled coal miner Buffalo Coal said on Friday that it would continue to consider restructuring alternatives at its Dundee operations, in KwaZulu-Natal, and advised shareholders that it was under a TSX delisting review. The dual-listed South Africa-focused company’s finances were under strain,... 

State miner developing new projects, eyeing acquisitions

By: Ilan Solomons Leveraging off the ongoing success of its existing Vlakfontein colliery, near Ogies, in Mpumalanga, State-owned mining company African Exploration Mining and Finance Corporation (AEMFC) plans to expand its project portfolio, AEMFC corporate strategy and planning GM Sicelo Sikakane informed Mining... 

State miner developing new projects, eyeing acquisitions
Photo by Duane Daws
ASSET AUGMENTATION African Exploration Mining and Finance Corporation is developing its underground torbanite and thermal coal T-project, north-west of Kinross, in Mpumalanga

Ncondezi CEO departs

By: Megan van Wyngaardt Aim-listed coal miner Ncondezi Energy CEO Paul Venter will soon step down from his position, as well as his role as executive director. He will be replaced by the company’s current COO Chris Schutte. Venter’s reason for leaving as well as his date of departure was not divulged. The company also... 

How would the JSE approach a possible partial Eskom listing?

By: Terence Creamer Following confirmation that the National Treasury was indeed considering private-investment options for Eskom, as well as an indication from African National Congress (ANC) secretary-general Gwede Mantashe that a “Chinese” model could be considered, which would allow for a portion of the power... 

How would the JSE approach a possible partial Eskom listing?

Rich world should help emerging countries cut pollution – Glencore's Hayward

By: Reuters Rich countries should help developing countries like India limit their carbon emissions by supporting the building of more expensive but cleaner energy plants, Glencore chairman Tony Hayward said on Thursday. Hayward said that India, where hundreds of millions of people have no access to... 

Rich world should help emerging countries cut pollution – Glencore's Hayward
Photo by Bloomberg
Glencore chairperson Tony Hayward

Poland expects final list of investors in Kompania Weglowa in June

By: Reuters WARSAW – It will take until at least the second half of June to establish a new ownership structure for troubled Polish miner Kompania Weglowa, the deputy treasury minister in charge of mines restructuring said on Thursday. "I think that in the second half of June at the earliest we will have... 

Resources Watch

By: Creamer Media Reporter This week: A premium should be placed on the reputational risks to the diamond sector. State miner aims to increase output by the end of the year. And, the DMR’s new fatigue-monitoring code of practice is welcomed. 

Resources Watch

Credit Agricole stops financing coal mining

By: Reuters French bank Credit Agricole said on Wednesday it would no longer finance coal mining or miners as lenders grow increasingly uneasy about funding coal due to environmental concerns. The decision, announced at a shareholder meeting in the former coal-mining city of Lille in northern France, won... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot

By: Martin Creamer The Chamber of Mines of South Africa on Wednesday revealed a strategic plan to get South Africa’s “great mining industry” back on the front foot. Speaking at the well-attended 125th annual general meeting (AGM) of the historic organisation, chamber president Mike Teke – who was re-elected for a... 

Chamber reveals plan to get South Africa’s ‘great mining industry’ back on front foot
Photo by Duane Daws
Chamber president Mike Teke (right) having a word with his vice-president Graham Briggs.

Botswana looking to diversify economy though energy developments

By: Megan van Wyngaardt Botswana Oil (BOL), which was established in October, has, together with the Botswana government, called for expressions of interest (EoI) for an in-house technical adviser to assist in the development of the landlocked country’s oil and gas sector. BOL was tasked with ensuring the security of... 

Botswana looking to diversify economy though energy developments

S African thermal coal cargoes hold premium as power shortage bites

By: Reuters South African physical coal cargoes maintained a premium over Australian and European prices as rolling power black-outs due to a severe shortage in electricity generation threatened coal mining and ship loading capacity. South Africa's national utility Eskom - struggling with a serious liquidity... 

S African thermal coal cargoes hold premium as power shortage bites

Kenya awards two coal blocks, plans power plant

By: Reuters Kenya has picked China’s HCIG Energy Investment Company and Liketh Investments Kenya to develop two coal blocks in its Eastern region, the energy and petroleum ministry said on Tuesday. The consortium will mine and process coal on blocks A and B within the Mui basin. The basin is sub-divided into... 

Kenya awards two coal blocks, plans power plant

Cockatoo cuts staff to save costs

By: Esmarie Swanepoel Junior coal miner Cockatoo Coal has announced "significant redundancies", including that of its CFO, COO and company secretary, in order to reduce overheads. The ASX-listed company said that redundancies were implemented at the company’s head office in Brisbane and at the Baralaba mine site, in... 

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