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NUM ‘shocked’ by Glencore closure plans

By: Natalie Greve     Updated 2 hours 40 minutes ago The National Union of Mineworkers (NUM) says it is “shocked and saddened” by an announcement this week by diversified mining major Glencore that it was considering the closure of several coal-mining operations in South Africa, including the Optimum coal mine, in Mpumalanga. “The proposed closure... 

WCC advances Eskom talks, export coal project

By: Natalie Greve Coal producer, the Waterberg Coal Company (WCC), and energy utility Eskom remain in discussions to resolve the “outstanding requirements” to convert the Waterberg coal project’s (WCP’s) offtake memorandum of understanding into a coal supply agreement (CSA). The outstanding requirements included... 

Walter Energy suspends quarterly dividend

By: Henry Lazenby Cash-strapped Walter Energy suspended its quarterly dividend on its common stock on Wednesday to enhance its financial flexibility in the current turbulent metallurgical coal market conditions. The pure-play metallurgical coal producer had previously paid a quarterly dividend of $0.01 a share. 

Glencore mulls closure of some South African coal operations

By: Martin Creamer Diversified mining major Glencore is considering the closure of some of its coal-mining operations in South Africa, which would reduce its overall South African production by at least five-million saleable tons of coal a year and affect more than 1 000 employees. This announcement by the... 

Glencore mulls closure of some South African coal operations
Photo by Duane Daws
Ivan Glasenberg

Anglo may record noncash impairment charges in price plunge parry

By: Martin Creamer Given the sharply lower commodity price environment, particularly for bulk commodities, Anglo American said on Wednesday that it expected to record noncash impairment charges in its 2014 results. The London- and Johannesburg-listed diversified major, headed by CEO Mark Cutifani, added in a media... 

Anglo may record noncash impairment charges in price plunge parry
Mark Cutifani

SCCL seeks to spread mining operations to eastern and central India

By: Ajoy K Das India’s Singareni Collieries Company Limited (SCCL) will spread its wings beyond its operational home base in southern India to the eastern and central regions to achieve its production target of 80-million tonnes a year by 2020. The geographical expansion would include expanding its mining... 

Peabody Energy narrows Q4 loss on lower US, Australian costs

By: Henry Lazenby The world’s largest private-sector coal company Peabody Energy has slightly narrowed its fourth-quarter loss, as its efforts to reduce costs in the low-price environment gain traction. The St Louis-based miner, with 27 surface and underground mines across the US and Australia, on Tuesday reported... 

Mining companies suffer $70bn in impairment losses – report

A recent survey revealed that major global mining companies had suffered impairment losses of $70-billion in 2013/14, reflecting the impact of the current low commodity price cycle. The ‘Mining Financial Reporting Survey 2014’, compiled by financial services firm KPMG, further revealed that... 

Mining companies suffer $70bn in impairment losses – report

India’s Coal Ministry seeks early completion of railway linkages

By: Ajoy K Das India’s Coal Ministry has sought intervention and facilitation from the Railway Ministry and the Prime Minister’s Office to bring forward the completion date of a new railway network, from 2017 to 2016, to enable major Coal India Limited (CIL) to evacuate an additional 300-million tonnes a year... 

Anglo American may sell two more Australian coal mines – report

By: Esmarie Swanepoel Mining major Anglo American said on Tuesday that its coal portfolio review was still under way and that the outcome of the review was still to be determined. This comes after newswire Bloomberg reported that Anglo American may sell more of its Australian coal assets, citing a person with... 

Anglo American may sell two more Australian coal mines – report

CoAL’s Vele colliery receives enviro nod for plant upgrade

By: Natalie Greve The Department of Environmental Affairs (DEA) has granted Coal of Africa Limited’s (CoAL’s) Vele colliery, in Limpopo, an amendment of the environmental authorisation in terms of the National Environmental Management Act and the Environmental Impact Assessment Regulations. This amendment was the... 

CoAL’s Vele colliery receives enviro nod for plant upgrade
Photo by Duane Daws
Vele colliery

Cliffs suspends dividend, repays $400m in debt

By: Henry Lazenby US iron-ore and coal producer Cliffs Natural Resources has suspended its quarterly dividend as part of accelerated plans to repay its outstanding debt balance. Cleveland, Ohio-based Cliffs on Monday said it had already reduced its outstanding debt balance by more than $400-million during the... 

Public review period for KiPower water use licence report extended

By: Sashnee Moodley The public review period for the integrated water use licence application for the proposed construction of a 600 MW coal-fired independent power producer plant and associated infrastructure for Kuyasa Mining subsidiary KiPower will be extended until March 24.  

Public review period for KiPower water use licence report extended

Eskom chief expects first signs of turnaround in 18 to 24 months 

By: Terence Creamer Eskom CEO Tshediso Matona believes positive results from the current turnaround plan at the embattled utility will begin showing through in the next 18 to 24 months and has committed to continue “telling it as it is and telling it like it has never been told” so that the issues facing the... 

Eskom chief expects first signs of turnaround in 18 to 24 months

Matona drawing energy from days as activist, diplomat to navigate Eskom perils 

By: Terence Creamer Apart, perhaps, from the Stoney ginger beer pick-me-up on his conference table and the queue of awaiting visitors in his reception area, there are few other signs of the pressure Eskom CEO Tshediso Matona is under. His corner office on the third-floor at Megawatt Park, in Sunninghill, provides... 

Matona drawing energy from days as activist, diplomat to navigate Eskom perils
Photo by Duane Daws
Eskom CEO Tshediso Matona

Mozambique coal sector sees disruptions, deals and bankruptcy

By: Keith Campbell Railway traffic on Mozambique’s Sena line, used to convey coal (along with other cargo and passengers) mined in the Moatize basin in Tete province to the port city of Beira for export, was disrupted from the morning of January 7 to January 11, as a result of torrential rains. This was reported by... 

RBCT targets export of 74m tons of coal in 2015  

Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Richards Bay Coal Terminal's target of 74-million tons of coal for export in 2015. 

RBCT targets export of 74m tons of coal in 2015

India looks at auctioning CIL coal

By: Ajoy K Das It seems that auctioning is the flavour of the season for the Indian government, which has introduced a proposal that major Coal India Limited (CIL) adopt this route to contract long-term supply linkages with end-users. After setting the ball rolling for auctioning of coal blocks and mineral... 

Bisichi receives £6m loan from bank

A £6-million term loan facility has been completed between UK mining company Bisichi Mining and UK banking group Santander to further finance the miners projects. The Aim-listed company, which owns the Black Wattle colliery near Middelburg, in Mpumalanga, said the new loan replaced a previous... 

Resgen defers some Boikarabelo activities until finalisation of debt funding

By: Natasha Odendaal JSE- and ASX-listed Resource Generation (Resgen) is continuing negotiations to finalise debt funding to fast-track the development of its Boikarabelo coal mine, in the Waterberg. Over the three months to March, the company planned to focus on the development of power infrastructure and a 13 km... 

SA mine fatality at all-time low, sets positive outlook for 2015

By: Natasha Odendaal South Africa may be gaining traction on its ambitions of “zero harm” within the mining sector, with indications that the number of recorded fatalities in 2014 had reached a record low with the unofficial count at 84. In the run-up to the release, at the end of January, of the latest Department of... 

SA mine fatality at all-time low, sets positive outlook for 2015

Walkabout puts price tag on Botswana coal project

By: Esmarie Swanepoel A scoping study into the Takatokwane thermal coal project, in Botswana, estimated that the mine would cost $767-million to develop, Australian junior Walkabout Resources reported on Wednesday. The conceptual operation at Takatokwane was based on two openpit strip mines, each delivering... 

Record-breaking RBCT targets export of 74m tons of coal in 2015 

By: Martin Creamer South Africa’s Richards Bay Coal Terminal (RBCT), which exported an all-time record 71.3-million tons of coal in 2014, is targeting 74-million tons for 2015. RBCT CEO Nosipho Siwisa-Damasane told the media here on Tuesday that last year’s export performance was the best ever for the... 

Record-breaking RBCT targets export of 74m tons of coal in 2015
Photo by Duane Daws
Nosipho Siwisa-Damasane

Private sector has ‘critical’ role to play in alleviating power crunch 

By: Terence Creamer Business Unity South Africa (Busa) has acknowledged that load shedding is likely to be part of a broader series of interventions to address the country’s prevailing electricity problems. However, it has appealed for every effort to be made to minimise the negative impact on the economy and for... 

Private sector has ‘critical’ role to play in alleviating power crunch

Firestone Energy receives first tranche of $5m raising

By: Natasha Odendaal Coal developer Firestone Energy has received the first tranche of a $5-million convertible note funding. In November, Firestone announced the multimillion-dollar issue of convertible notes to advance the development of its Waterberg coal project, in Limpopo. 

Price volatility a key worry for global energy leaders – WEC report

By: Terence Creamer Energy and commodity price volatility and uncertainty remained at the top of the list of concerns confronting global and African energy leaders canvassed for the World Energy Council’s (WEC’s) 2015 World Energy Issues Monitor. More than 1 000 energy executives and policymakers from nearly 80... 

Price volatility a key worry for global energy leaders – WEC report
Photo by Duane Daws
WEC secretary general Christoph Frei

Back to basics key message in Deloitte trend forecast

By: Megan van Wyngaardt While the outlook of the global mining sector for the year ahead looks bleak, with mining companies having to contend with price volatility, geopolitical turmoil, rising costs, declining grades and a general lack of access to financing, advisory firm Deloitte believes all is not lost. In its... 

Back to basics key message in Deloitte trend forecast

India taking steps to permit standalone miners into coal sector

By: Ajoy K Das The Indian government has taken another step towards opening up the coal mining sector to standalone miners by beginning the process of identifying suitable coal blocks. According to Coal Ministry officials, the process of identifying the coal blocks to be put up for auction to private... 

Investors to blame for supporting dithering juniors

By: Henry Lazenby In the aftermath of several key mining-related indexes having dropped significantly since 2011, the mining industry as a whole, and particularly the junior explorers and project generators, have had to “reset” and undergo a paradigm shift from being project promoters to true value creators. This... 

Demand for NSW coal growing steadily

By: Esmarie Swanepoel Global demand for coal sourced from New South Wales remains strong, with new data released by industry-owned Coal Services indicating an 8% increase in exports during 2013/14. New South Wales exported about 167-million tonnes of coal in the financial year, up from the 155-million reported in the... 

Demand for NSW coal growing steadily

Ministerial talk of a South African mining champion pleases analyst 

By: Martin Creamer Talk of restoring the lost iconic status of the South African mining industry has gladdened the London-based Investec Global Research Team. “We’re glad to see growing political pressure in South Africa to restore the premier status of the mining industry,” the analyst team said in a note on Friday. 

Ministerial talk of a South African mining champion pleases analyst
Photo by Duane Daws
Minerals Minister Ngoako Ramatlhodi
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