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Queensland’s January coal exports at record

By: Esmarie Swanepoel Despite the falling commodity prices, Queensland coal exports during the month of January reached just over 19-million tonnes, which was a record for the month of January and an 8% improvement on the same period last year. Queensland Resources Council (QRC) CEO Michael Roche said on Friday that... 

First blasting done at Isaac Plains

By: Esmarie Swanepoel First blasting has occurred at the Isaac Plains coal mine, in Queensland, with the project on track to produce its first coal in April. Project owner Stanmore Coal said on Friday that following the Department of Environment and Heritage Protection’s acceptance of the Isaac Plains plan of... 

Peabody stock sinks to one-year low on disappointing Q4

By: Henry Lazenby US coal producer Peabody Energy has reported a net loss of $518-million, or $28.43 a share for the three months ended December 31, as slowing global economic growth drove a wide range of commodity prices lower in 2015, resulting in the largest broad commodity market decline since 1991. Seaborne... 

Obama climate plan's broad scope to face skeptical Supreme Court

By: Reuters The US Supreme Court's unexpected move to block President Barack Obama's policy to cut pollution from coal plants highlights what both sides in the legal fight agree is a key weakness in the rules - a provision that expands the scope of regulation far beyond curbing emissions from individual... 

Teck turns a profit in low commodity price environment

By: Henry Lazenby Canadian diversified miner Teck Resources surprised markets on Thursday with better than expected fourth-quarter earnings, beating analyst expectations by C$0.03 a share. However, the Vancouver-based miner reported a net loss of C$459-million in the fourth quarter, as it booked after-tax... 

Teck turns a profit in low commodity price environment

'Simplistic’ to correlate Sasol with oil price as chemicals contribution rises

By: Terence Creamer Incoming joint Sasol CEO Bongani Nqwababa believes “simplistic” correlations of the company’s performance to the oil price will become less relevant in coming years as the revenue and profit contribution of its chemicals business rises in line with its large North American expansion projects.... 

'Simplistic’ to correlate Sasol with oil price as chemicals contribution rises
Photo by Duane Daws
Incoming joint Sasol CEO Bongani Nqwababa

Glencore reports lower FY coal, copper output

By: Creamer Media Reporter Output across most of diversified major Glencore’s production categories fell in 2015, with coal output down 10% year-on-year, copper production 3% year-on-year and nickel 5% year-on-year. Coal production decreased to 131.5-million tonnes, owing to the curtailment of production in response to... 

Glencore reports lower FY coal, copper output

Tinkler steps aside as APC boss

By: Esmarie Swanepoel Mining personality Nathan Tinkler has resigned as MD and CEO of ASX-listed Australian Pacific Coal (APC) after he was declared bankrupt by the Federal Court. The Federal Court judgment related to a dispute over money owed from the 2013 sale of a luxury jet, with court documents indicating that... 

Unlock South Africa/Botswana coal in tandem, Exxaro urges at Indaba

By: Martin Creamer All stakeholders should recommit to the development of the Waterberg coalfields in tandem with neighbouring Botswana in order to unlock the entire region’s coal potential and improve transport economics, Exxaro Resources CEO designate Mxolisi Mgojo urged on Tuesday. Speaking at the 2016... 

Unlock South Africa/Botswana coal in tandem, Exxaro urges at Indaba
Photo by Duane Daws
Exxaro Resources CEO designate Mxolisi Mgojo

Operations suspended at Baralaba pending Cockatoo restructure

By: Esmarie Swanepoel The Baralaba coal mine, in Queensland, has been placed on care and maintenance in order to preserve cash and the value of the asset, pending a restructure or sale of ASX-listed Cockatoo Coal. Cockatoo went into administration in November last year, after a A$81-million bank guarantee facility... 

One-third of Queensland’s coal mines running at a loss – QRC

By: Esmarie Swanepoel Nearly one-third of Queensland’s coal mining companies were operating at a loss in the current commodity climate, a report commissioned by the Queensland Resources Council (QRC) has found. QRC CEO Michael Roche said that the report, undertaken by Wood Mackenzie, supported what industry leaders... 

New Hope advances Bengalla buy

By: Esmarie Swanepoel ASX-listed New Hope is aiming to complete the acquisition of mining major Rio Tinto’s 40% interest in the Bengalla thermal coal mine, in New South Wales, by March. The junior said on Monday that it had cleared two material conditions to the purchase of the mine. These included the remaining... 

India’s coal appetite dwindles

By: Ajoy K Das Green shoot pointers like the growth, or decline, in thermal power projects and the rapid upscaling of renewable-energy projects indicate that India’s appetite for coal is dwindling. Even as domestic coal production rose, moving from a shortage towards the surplus zone, growth in new thermal... 

Business warns of power hike ‘vicious cycle’, amid weak demand outlook 

By: Terence Creamer Business warned on Friday that South Africa risked entering a “vicious cycle” of ever-increasing yearly electricity hikes, beyond those already approved, owing to the nature of the current tariff-setting formula, which allows Eskom to recover variances in revenue arising when power sales are... 

Business warns of power hike ‘vicious cycle’, amid weak demand outlook
Busa's Martin Kingston at the Nersa hearings

Coal will be a priority this year, assure sector stakeholders

By: Kim Cloete Key stakeholders in South Africa’s coal industry have affirmed their commitment to boosting the sector’s performance in 2016, despite the current tough times for the commodity, and the economy as a whole. Speaking at the IHS Energy Coal Exports Conference 2016 in Cape Town, Department of Mineral... 

Coal will be a priority this year, assure sector stakeholders
Coal analyst Xavier Prevost

Chamber of Mines calls for policy certainty in the coal sector

By: Kim Cloete Chamber of Mines CEO Roger Baxter has urged government to ensure there is policy certainty in the coal sector, which makes up the highest component of mineral sales in South Africa. “Coal mining needs a predictable, stable and competitive policy and regulatory environment,” he told delegates at... 

Chamber of Mines calls for policy certainty in the coal sector
Photo by Dylan Slater
Chamber of Mines CEO Roger Baxter

Whitehaven swings to interim profit, output hits record

By: Esmarie Swanepoel Coal miner Whitehaven Coal has posted an interim profit after a 54% surge in revenue on the back of record run-of-mine (RoM) output. ASX-listed Whitehaven on Friday reported net profit of A$7.8-million for the six months to the end of December, compared with a loss of $77.9-million in the... 

Whitehaven swings to interim profit, output hits record

Fossil Fuel Foundation establishing professional development centre

By: Mia Breytenbach The Fossil Fuel Foundation (FFF) has embarked on the development of a formal educational and training section, the Professional Development Centre, which seeks to provide for the needs of new players to the coal, carbon and related industries as well as update existing industry players on... 

Fossil Fuel Foundation establishing professional development centre
Photo by Bloomberg
IMPARTING KNOWLEDGE The Professional Development Centre will host interdisciplinary courses, covering all disciplines across the coal and hydrocarbons value chains

Eskom worried about S Africa’s rising coal costs 

By: Kim Cloete Power utility Eskom is concerned about the rising cost of coal in South Africa and has called for greater competition in the industry. “Coal costs have increased sharply. Our coal costs are too high. We need to make sure we focus on creating more competition and bring down coal inflation,” said... 

Nersa seeks to get to grips with Eskom’s R8bn diesel claim 

By: Terence Creamer  The National Energy Regulator of South Africa (Nersa) homed in on the “prudency” and “efficiency” of Eskom having spent an extra R8-billion on diesel to operate the expensive open cycle gas turbines (OCGTs) during its 2013/14 financial year, as Regulatory Clearing Account (RCA) hearings entered... 

Nersa seeks to get to grips with Eskom’s R8bn diesel claim
Photo by Duane Daws
Eskom CFO Anoj Singh

Oversupply, low prices crank up pressure on global coal industry

By: Kim Cloete The oversupply of coal and resultant “flailing prices” have cranked up the pressure in the global coal industry, with warnings of an “investment drought” in commodity projects. “Continuing flailing prices could be devastating for commodity exporters. World economies could face an investment... 

Carmichael needs careful consideration - Lynham

By: Esmarie Swanepoel Queensland’s Natural Resources and Mines Minister Anthony Lynham has said that a number of statutory obligations and outstanding legal issues remained to be addressed before the $16.5-billion Carmichael coal mine and rail project could be approved. Lynham’s warning comes shortly after the... 

Eskom unpacks interim Arnot coal supply arrangements 

By: Terence Creamer Eskom has moved to again justify its decision to terminate a 40-year cost-plus coal supply contract with Exxaro’s Arnot mine on the basis that it will be able to secure coal for the power station at a far lower rate than would have been possible from Arnot. It has also justified the inclusion of... 

Eskom unpacks interim Arnot coal supply arrangements

Eskom reports dramatic decline in OCGT use, diesel costs 

By: Terence Creamer State-owned electricity utility Eskom has reported a dramatic decline in diesel consumption and costs, amid improvements in its maintenance practices and a rise in the energy available from its coal-fired power stations. Delivering the group’s February State of the System Update in Johannesburg... 

Eskom reports dramatic decline in OCGT use, diesel costs
Photo by Duane Daws
Eskom CEO Brian Molefe

Eqstra warns of lower H1 earnings, to sell Moz mining equipment assets

By: Megan van Wyngaardt JSE-listed mobile capital equipment distributor Eqstra has, through its Mozambican subsidiary, signed a memorandum of agreement with Minas de Benga Limitada to dispose of all plant and equipment assets used in the provision of mining services during a five-year contract at Minas’ Benga coal mine,... 

Thermal coal prices get winter support, but long-term outlook bleak

By: Reuters Coal prices bounced away from multi-year lows this week as the northern hemisphere's peak demand winter season underpinned the market, but the longer-term outlook remains bleak due to falling consumption in major markets and cheap oil. In January, physical thermal coal prices fell below levels... 

Factual inaccuracies in media report, say Optimum Coal business rescuers

By: Megan van Wyngaardt Optimum mine and Optimum Coal Holdings’ joint business rescue practitioners (BRPs) Piers Marsden and Peter van den Steen said on Tuesday that there had been “a number of factual inaccuracies” in a recent media report on the ongoing Endulwini Mining offer. The BRPs said that the report... 

Factual inaccuracies in media report, say Optimum Coal business rescuers

Eskom names short-term suppliers for Arnot coal-fired plant

By: Reuters South Africa's Eskom will use coal from Glencore, South32 and five other suppliers to power the Arnot power station, including Exxaro Resources with whom it did not renew a 40-year contract in December, the utility's spokesperson said in a Twitter post on Tuesday. The short-term supply agreements... 

Eskom names short-term suppliers for Arnot coal-fired plant

Sibanye concludes WCC due diligence, revised term sheet expected

By: Natasha Odendaal A revised term sheet for Sibanye Gold’s proposed refinancing of Waterberg Coal Company (WCC) is expected to emerge after the gold producer completed its legal, technical and financial due diligence. WCC on Tuesday said in a quarterly update that Sibanye remained “desirous” of the deal; however,... 

Australian Greens seek assurance on mine rehab responsibilities

By: Esmarie Swanepoel The Australian Greens party has called on the Queensland state government to ensure that diversified miner Anglo American did not back out of its environmental responsibilities at the Callide coal mine. Last month, Anglo American entered into a share sale agreement with unlisted Batchfire... 

APC raises A$20m for Dartbrook acquisition

By: Esmarie Swanepoel ASX-listed Australian Pacific Coal (APC) has raised A$20-million to fund its acquisition of an 83.33% interest in the Dartbrook joint venture (JV), in New South Wales. In December last year, APC inked an agreement with diversified miner Anglo American to acquire the majority interest in the... 

APC raises A$20m for Dartbrook acquisition

CoAL updates the market on mineral resources, ore reserves

By: Megan van Wyngaardt As part of its proposed acquisition of fellow miner Universal Coal, dual-listed Coal of Africa Limited (CoAL) has updated the mineral resources and ore reserves for its material projects – the Makhado project, the Vele colliery and the Greater Soutpansberg Project (GSP). The mineral resources and... 

Problems aplenty likely to force CIL deferral of price rationalisation

By: Ajoy K Das Faced with a number of problems, producer Coal India Limited (CIL) announced the deferral of its planned price rationalisation in order to cope with higher production and the liquidation of rapidly rising pithead stocks. Rising coal production, expected to hit the 550-million-tonne mark by the... 

Eskom slams Gupta coal report as mischievous 

By: News24Wire A mine linked to the Gupta family has not been awarded a contract to supply coal for the Arnot power plant, Eskom has said. This after it was reported on Friday that state-owned Eskom was buying coal for its Arnot power plant from a mine that’s being bought by a company controlled by the Gupta... 

Eskom slams Gupta coal report as mischievous

IchorCoal says won’t extend offer for Universal

By: Natasha Odendaal IchorCoal on Friday said it would not extend a cash offer for the shares it did not already own in ASX-listed Universal Coal beyond the February 5 deadline. In September, IchorCoal, already the single largest shareholder with a 29.99% stake, offered A$0.16 a share for the remaining Universal shares. 

DA to question Minister on alleged involvement in the sale of mine

By: Megan van Wyngaardt Democratic Alliance shadow Minister James Lorimer says he will question Mineral Resources Minister Mosebenzi Zwane in Parliament as to whether the Minister has made interventions on behalf of mining industry participants. This comes as the DA alleged that Zwane had confirmed that he was involved... 

Weak coal prices prompt Anglo Pacific to reduce 2015 dividend

By: Creamer Media Reporter Dual-listed Anglo Pacific Group announced on Thursday that it would reduce its 2015 dividend to 3p, from the previous level of 4p per half year. This brings the total dividend for the year ended December 31, 2015 to 7p a share for the year, though the company had intended to pay 8 p.The company... 

Weak coal prices prompt Anglo Pacific to reduce 2015 dividend
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