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Coal News

Eskom to buy ‘emergency’ coal, splurge on diesel as load-shedding risk returns 

By: Terence Creamer     Updated 5 hours ago South Africa’s power utility Eskom reports that it has received approval for the National Treasury from the “urgent procurement” of four-million tons of emergency coal to help address serious stock shortfalls at several of its 15 coal-fired power stations. More than 1.1-million tons have already... 

Treasury report finds Koko meddled to help Tegeta

By: African News Agency      Updated 5 hours ago Former Eskom CEO Matshela Koko obstructed coal testing that would have compromised the contract Tegeta Exploration cinched with the power utility, according to a forensic report released by National Treasury on Friday. The report by Fundudzi Forensic Investigation Services details how Eskom... 

 Treasury report finds Koko meddled to help Tegeta
Photo by Creamer Media
Former Eskom CEO Matshela Koko

Ncondezi $5.1m loan gets extended maturity date to November 2019

By: Marleny Arnoldi     16th November 2018 Aim-listed Ncondezi Energy has reached formal agreement to amend its $5.1-million loan, which received an extended maturity date to November 2019. Before a restructuring process started, the loan would have matured in September.  

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet 

By: News24Wire      16th November 2018 National Treasury has released a bombshell report of more than 600 pages detailing the extent of rot at Transnet and Eskom over the last six years – and says Malusi Gigaba compromised the procurement process of controversial new Chinese locomotives. The report, compiled after a forensic... 

Malusi Gigaba named in bombshell Treasury report on rot at Eskom, Transnet
Photo by Bloomberg
Former Home Affairs Minister Malusi Gigaba

Stanmore extends Isaac Plains contract

By: Esmarie Iannucci     16th November 2018 Coal miner Stanmore Coal has extended the mining services agreement at its Isaac Plains East coal mine, in Queensland, with ASX-listed NRW Holdings by another five years. The contract extension will start in July 2019 and provides Stanmore with the flexibility to scale up and down production... 

Instil portable skills to assist economic development post closure – consultancy

By: Nadine James     16th November 2018 Mining companies’ social and labour plans (SLPs) should incorporate initiatives or programmes aimed at reskilling workers and uplifting community members through the development of portable skills, says socioeconomic development facilitator Economic Development Solutions (EDS) MD Janine Espin.... 

Instil portable skills to assist economic development post closure – consultancy
JANINE EPSIN ompanies should approach closure with economic sustainability in mind

MC Mining acquires key surface rights for Makhado project  

By: Tasneem Bulbulia     15th November 2018 MC Mining’s subsidiary, Baobab Mining & Exploration has reached agreement on the terms and conditions under which it will acquire the two key properties required for its Makhado hard coking and thermal coal project, in Limpopo. 

NZ approves plans to re-enter Pike River

By: Esmarie Iannucci     15th November 2018 The New Zealand government has announced plans to re-enter the Pike River mine, eight years after an explosion claimed the lives of 29 miners. Minister Responsible for Pike River Re-entry, Andrew Little, said this week that the Te Kāhui Whakamana Rua Tekau Mā Iwa - Pike River Recovery Agency,... 

Eskom highlights risk of further debt accumulation as it gears up to defend big hikes 

By: Terence Creamer     14th November 2018 Debt-laden electricity utility Eskom is preparing for yet another bruising encounter with consumers in the coming months, during which it will seek to justify it latest R762-billion, three-year revenue application. If successful with its fourth multiyear price determination (MYPD4) application,... 

Eskom highlights risk of further debt accumulation as it gears up to defend big hikes

IEA’s World Energy Outlook holds good news for Australian coal miners

By: Esmarie Iannucci     14th November 2018 The International Energy Agency’s (IEA’s) latest World Energy Outlook (WEO) update holds good news for Australian coal producers, estimating that demand for coal in the Asia Pacific will increase by 492-million tonnes of coal equivalent by 2040. Federal Resources Minister Matt Canavan noted that... 

IEA’s World Energy Outlook holds good news for Australian coal miners

Wescoal reports strong interim results  

By: Tasneem Bulbulia     13th November 2018 JSE-listed coal miner, trader and supplier, Wescoal has achieved solid results for the six months ended September 30, with headline earnings a share up 16% year-on-year, at 23.5c. Revenue increased by 28% year-on-year to R2.1-billion, while cash generation increased by 41% to R291-million, which... 

Wescoal reports strong interim results
Photo by Christo Greyling
Wescoal CEO Waheed Sulaiman

New BC coking coal mine on the cards

By: Creamer Media Reporter      13th November 2018 Publically traded Colonial Coal has announced the outcomes of a preliminary economic assessment (PEA) for a new coking coal mine, near Tumbler Ridge, north-eastern British Columbia. Although preliminary in nature, the PEA shows that the Gordon Creek project has positive economics and that it is... 

Electrifying the world no panacea for global warming, IEA says  

By: Bloomberg     13th November 2018 Driving electric cars and scrapping your natural gas-fired boiler won’t make a dent in global carbon emissions, and may even increase pollution levels. Higher electrification may lead to oil demand peaking by 2030, but any reduction in emissions from the likes of electric vehicles will be offset... 

Resgen to accelerate discussions with alternative funder 

By: Simone Liedtke     12th November 2018 ASX- and JSE-listed Resource Generation (Resgen) has agreed to accelerate discussions with the facilitator of alternative funding being sourced from a third party as a substitute or as a complementary participant in its lender syndicate. This is owing to a short delay having arisen in scheduling... 

Eskom warns of power cuts due to low coal stockpiles 

By: Reuters     12th November 2018 Cash-strapped power utility Eskom said on Monday the risk of nation-wide electricity outages had increased significantly due to a sharp fall in coal stockpiles at five of its power stations. "The risk of load-shedding is there and its rising," said Eskom spokesperson Khulu Phasiwe. 

Eskom warns of power cuts due to low coal stockpiles

Universal completes third colliery buy  

By: Esmarie Iannucci     12th November 2018 South Africa focused Universal Coal has completed the A$8.9-million acquisition of the North Block Complex from South Africa’s Exxaro Coal. The North Block Complex is an opencast operation located in proximity to South African State-owned utility Eskom’s Arnot, Tutuka and Komati power stations.... 

Universal completes third colliery buy

Kibo submits mining right application for Mabesekwa project

By: Marleny Arnoldi     9th November 2018 Aim-listed Kibo Energy has submitted its application for a full mining right for the Mabesekwa coal independent power producer project, in Botswana. This follows the company’s formal presentation to Botswana’s Department of Mines, which outlined the project’s envisaged development plan.  

Lazard says ‘inflection point’ reached making new renewables cheaper than existing coal 

By: Terence Creamer     9th November 2018 A new US study comparing the costs of energy from various generation technologies indicates that an “inflection point” has been reached where, in some cases, it is more cost effective to build and operate new renewable-energy projects than to maintain existing conventional generation plants. The... 

Lazard says ‘inflection point’ reached making new renewables cheaper than existing coal

Court sets aside decision allowing coal mine in Mabola Protected Environment

By: News24Wire      9th November 2018 The North Gauteng High Court in Pretoria has set aside a 2016 decision allowing a new coal mine to be developed in the Mabola Protected Environment near Wakkerstroom, Mpumalanga. The decision had been made by of former mineral resources minister Mosebenzi Zwane and late environmental affairs... 

Wescoal expects to report higher interim earnings

By: Tasneem Bulbulia     8th November 2018 Wescoal expects its headline earnings a share for the six months to September 30 to increase by between 3.5% and 23.3% year-on-year to between 20.9c and 24.9c. Earnings a share are expected to increase by between 2.2% and 17.8% to between 23c and 26.5c. 

Mining production down 1.8% y/y in September, led by lower gold output 

By: Marleny Arnoldi     8th November 2018 Mining production decreased by 1.8% year-on-year in September, with the largest negative contributor being gold production with a decline of 19% and contributing -3.1 percentage points. The largest positive contributor was platinum-group metals (PGMs), which had a 7.2% production increase,... 

Mining production down 1.8% y/y in September, led by lower gold output

Land Court’s New Acland expansion recommendation lauded

By: Esmarie Iannucci     8th November 2018 Coal miner New Hope Corporation has welcomed a positive recommendation from the Queensland Land Court on the Stage 3 expansion of the New Acland mine. The Land Court has conditionally agreed to recommend that a mining lease and environmental authority amendment be granted, subject to certain... 

Land Court’s New Acland expansion recommendation lauded

Indian coal production shows signs of revival, but unlikely to keep pace with demand

By: Ajoy K Das     7th November 2018 Production growth green shoots are emerging among Indian State-run coal mining companies, but it is unlikely that demand from thermal power plants will be met. Singareni Collieries Company Limited (SCCL), which has mining operations in the southern parts of the country, produced 5.27-million tons... 

Kibo welcomes Tanesco’s resumption of tender process

By: Creamer Media Reporter      7th November 2018 Multi-asset energy company Kibo Energy on Wednesday welcomed the announcement by the Tanzania Electricity Supply Company (Tanesco) that it had resumed the tender process for certain energy projects in the country. Kibo on Friday said certain procedural amendments needed to be made to the process... 

JSW eyes controlling stake in Prairie Mining – CEO

By: Reuters     7th November 2018 Poland's JSW is interested in taking over Australia's Prairie Mining, CEO Daniel Ozon confirmed on Wednesday. Sources told Reuters in September that JSW, the European Union's biggest coking coal miner, wanted a controlling stake in Prairie Mining. 

Eskom issues senior managers with retrenchment notice 

By: Terence Creamer     7th November 2018 The board at State-owned electricity utility Eskom has approved a process that could result in the retrenchment of senior managers, the company confirmed on Wednesday. Eskom said in a statement that, despite efforts to curb expenditure, operating costs had continued to increase dramatically,... 

Eskom issues senior managers with retrenchment notice

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’ 

By: Terence Creamer     7th November 2018 Transnet acting CEO Tau Morwe is prioritising the restoration of trust, internally and externally, which he acknowledges has been affected by the “turbulence” associated with recent action taken by the board to tackle corruption and recover money “siphoned” from the State-owned company. However,... 

Morwe signals strategy shift as he prioritises restoration of trust amid ‘turbulance’

MC Mining secures more funding for Uitkomst 

By: Esmarie Iannucci     7th November 2018 South Africa-focused coal miner MC Mining has secured a R20-million facility from South African financial services provider ABSA Bank for its Uitkomst Colliery, to fund a potential expansion of operations. Uitkomst transitioned to an owner-operated mine in August this year, with the acquisition... 

MC Mining secures more funding for Uitkomst
Photo by Dylan Slater
MC Mining CEO David Brown

West Bengal seeks commercial mining permission for Asia’s largest coal block

By: Ajoy K Das     6th November 2018 Although the opening up of India’s coal sector has been put on the slow track, the West Bengal government is nonetheless seeking the federal government’s approval for commercial mining from a coal block allocated to it – the largest single site reserve in Asia. The West Bengal government was... 

Edenville secures up to $2.75m loan

By: Creamer Media Reporter      6th November 2018 Aim-listed Edenville Energy has entered into a conditional $2.75-million convertible funding agreement with an entity managed by Lind Partners. Edenville, which is developing the Rukwa coal project in south-west Tanzania, will use the funds for working capital and expansion purposes. 

New Hope’s enviro efforts recognised with certification of rehabilitated land

By: Esmarie Iannucci     6th November 2018 The Queensland government has certified 349 ha of progressively rehabilitated land at coal miner New Hope’s New Acland coal operations, on the Darling Downs. New Hope MD Shane Stephan said that this was recognition of the company’s ongoing commitment to the environment, and the long-term... 

New Hope’s enviro efforts recognised with certification of rehabilitated land

Peabody's Coppabella turns 20

By: Esmarie Iannucci     6th November 2018 US heavyweight Peabody Energy has marked 20 years of operation at its Coppabella coal mine, in Queensland. During 2017, some 2.9-million tonnes of coal was sold from the Coppabella mine, with $950-million of direct and indirect economic benefits reported from the mine during the same period. 

Cimic wins A$100m in CHPP contracts

By: Esmarie Iannucci     6th November 2018 ASX-listed Cimic’s mineral processing company Sedgman has been awarded two contracts worth a combined A$100-million to operate and maintain coal handling and preparation plants (CHPPs). A contract with Mach Energy to operate and maintain the Mount Pleasant site, in New South Wales, is expected to... 

Anglo American recommits to sustainable development goals, sets milestones for 2020, 2030  

By: Simone Liedtke     5th November 2018 The mining industry has to address the critical challenges of safety, productivity and the way land is used, as well as how energy and water are consumed as, alongside a growing population, there is greater demand for minerals and metals. However, meeting the growing demand for the materials that... 

Anglo American recommits to sustainable development goals, sets milestones for 2020, 2030
Anglo American South Africa executive head Andile Sangqu speaks to Mining Weekly Online about the miner's Sustainable Development Goals, and what it hopes to achieve with these. Video and Editing: Nicholas Boyd

Kibo says Tanesco tender to resume shortly

By: Creamer Media Reporter      2nd November 2018 An announcement by the Tanzania Electricity Supply Company (Tanesco) cancelling three tenders for large solar power, coal-fired generation projects and large wind power projects is “unfortunate, but not out of the ordinary”, dual-listed Kibo Energy CEO Leon Coetzer said on Friday. The company,... 

Canyon opens Bronkhorstspruit mine 

By: Marleny Arnoldi     2nd November 2018 Mineral Resources Minister Gwede Mantashe on Friday officiated at the opening of coal miner Canyon Coal’s new Khanye mine, in Bronkhorstspruit, Gauteng. Khanye has a 39-million-tonne coal reserve and is expected to produce 2.8-million tonnes a year of coal over a 16-year mine life. 

Canyon opens Bronkhorstspruit mine

Stanmore rises 2019 production guidance

By: Esmarie Iannucci     2nd November 2018 Coal miner Stanmore Coal has increased its production guidance for the 2019 financial year from 1.8-million tonnes to 2-million tonnes, after securing additional long-term port capacity. The company said that the additional long-term port capacity provided Stanmore with the ability to consider a... 

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