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SA's biggest mining union says to strike in coal sector Sunday

By: Reuters The National Union of Mineworkers (NUM) will strike in the crucial coal industry from Sunday after wage talks collapsed earlier this week in a country that relies heavily on coal for electricity. Africa's most advanced economy, beset by power shortages, relies on coal for its electricity and is... 

Black-controlled Fraser Alexander wins Glencore coal discard contracts

By: Martin Creamer Black-controlled mining services company Fraser Alexander has won the Glencore group discard and handling services contracts for Tweefontein Boschmans, Impunzi Atcom, Impunzi ATC and Koornfontein coal mines. The Royal Bafokeng Holdings-owned Fraser Alexander said in a release that the size of the... 

Black-controlled Fraser Alexander wins Glencore coal discard contracts
Discard hauler ejecting coal discard material.

Tauron's new board says plans to buy coal mining assets

By: Reuters The new board at Poland's Tauron said it plans to buy coal mines, bringing the state-controlled utility into line with government plans to help ailing miners. With just three weeks until parliamentary elections, government efforts to save to country's coal sector, which has been hurt by low... 

NSW planning commission gives nod for Port Waratah T4 project

By: Esmarie Swanepoel The New South Wales Planning Assessment Commission (PAC) this week gave its backing for the proposed Terminal 4 (T4) project, at Port Waratah. The T4 project would add an additional 70-million tonnes a year of coal export capacity at the port, with the project to be built in stages, according to... 

BC gives environmental green light for Murray River coal project

By: Henry Lazenby The British Columbia government has issued project developer HD Mining International with an environmental assessment certificate for the Murray River coal project,12 km south of Tumbler Ridge. Provincial Environment Minister Mary Polak and Energy and Mines Minister Bill Bennett had issued the... 

Impumelelo colliery receives new belt reeler

By: Bruce Montiea Conveyor fastening and accessory specialist Flexco manufactured and delivered a new vertical belt reeler in June to energy and chemicals group Sasol’s Impumelelo colliery in Secunda, Mpumalanga. Flexco project engineer Simon Curry says the belt reeler will be installed at the colliery once the... 

Impumelelo colliery  receives new belt reeler
SIMON CURRY The colliery will use the belt reeler to store and unspool 2 195 m of conveyor belting when the mine’s main decline shaft becomes operational

Need for productivity improvement stressed as shareholder returns fall

By: Ilan Solomons With persistently low shareholder returns and a dim outlook for the sector, mining companies must dig deeper in their productivity efforts, while also being proactive in seeking other growth opportunities, business strategy adviser Boston Consulting Group (BCG) research finds. Creating value... 

Need for productivity improvement stressed as shareholder  returns fall
IN THE CROSS HAIRS Gold and coal companies were particularly hard hit between 2010 and 2014

Poland sacks Tauron management after coal mine talks falter

By: Reuters The State-controlled supervisory board at Polish power group Tauron on Thursday replaced all Tauron management after the group failed to buy a troubled coal mine seen as vital for Poland's mining sector overhaul. In a surprise move, Jerzy Kurella - former deputy head at Poland's state-run gas... 

Resgen claims illegal collective action by shareholders

By: Natasha Odendaal Dual-listed Resource Generation (Resgen) on Thursday slammed an attempt by certain shareholders to overthrow the board, claiming illegal collective action by Shinto Torii, Noble Resources International and the Public Investment Corporation (PIC), led by Shinto parent company Altius Holdings.... 

Universal opens data room, tells shareholders to hold off on Ichor offer

By: Esmarie Swanepoel Takeover target Universal Coal has reiterated its ‘take no action’ advisory to shareholders, after receiving an official takeover offer from South Africa-based IchorCoal. IchorCoal, which holds a 29.99% stake in Universal, on Wednesday officially launched its takeover bid, offering Universal... 

Universal opens data room, tells shareholders to hold off on Ichor offer

Glencore widens job cuts at South African mines

By: Reuters Miner and commodities trader Glencore, which is reviewing its operations in the face of a slump in commodities prices, announced more job cuts at its mines in South Africa on Thursday. Gugulethu Maqetuka, a spokesperson for Glencore in South Africa, said the Swiss-based company had laid off 240... 

African opportunities depend on economic corridors and additional infrastructure 

By: Simon Rees Sub-Saharan Africa continued to face transport bottlenecks and difficulties in bringing large-scale infrastructure projects to fruition, despite increased economic growth and growing population levels, delegates were told at a recent Canada-Southern Africa Chamber of Business infrastructure... 

NUM to call strike in coal sector 

By: Reuters South Africa's National Union of Mineworkers (NUM) said on Wednesday it would give coal companies a 48-hour strike notice after wage talks collapsed. "We have the certificate to strike and will give the companies 48-hour notice later," Peter Bailey, NUM's chief negotiator in the coal sector, told... 

Prevost drops coal bombshell 

By: Martin Creamer South Africa’s Mr Coal on Wednesday called on the country to begin reversing out of low-priced coal export markets and turn inwards towards the domestic market through a grouping of inland terminals that could provide economic logistics to the high-grade South African coal that the global market... 

Prevost drops coal bombshell
Photo by Duane Daws
Xavier Prevost

Thermal coal prices near record lows; Indonesian output cuts check losses

By: Reuters Physical coal prices were mired near record lows this week as slower economic growth in top consumer China dented the outlook for demand, although some production cutbacks by the world's biggest thermal coal exporter Indonesia helped check losses. Thermal coal benchmarks hit record lows earlier... 

India’s Environment Ministry clears Junad for expansion

By: Ajoy K Das India’s Forest and Environment Ministry has approved the expansion of the Junad opencast mine in the western province of Maharashtra, subject to strict conditions. The mine, owned and operated by Western Coalfields Limited (WCL), a wholly owned subsidiary of Coal India Limited, would be expanded... 

New Hope buys Rio’s stake in Bengalla mine

By: Esmarie Swanepoel Coal miner New Hope Corporation will buy Rio Tinto’s 40% interest in the Bengalla thermal coal mine, in New South Wales, for A$865-million. Bengalla is the smallest of three coal mines in the Hunter Valley in which Rio holds an interest and produced some 8.6-million tonnes in 2014, of which... 

New Hope buys Rio’s stake in Bengalla mine

Resgen secures finance amid board reshuffle attempts 

By: Esmarie Swanepoel South Africa-focused Resource Generation (Resgen) has signed a memorandum of understanding (MoU) with Swiss private company HAB & JPR Privee to provide €480-million to enable the construction of the Boikarabelo mine. “We are pleased, after a protracted process of seeking funding in a difficult... 

IchorCoal's bid for Universal goes live

By: Esmarie Swanepoel South Africa-based IchorCoal has officially launched a takeover offer for ASX-listed Universal Coal. The A$80-million offer, which was previously labeled as "inadequate" and "opportunistic" by Universal, comprised a 16c a share cash offer for every outstanding Universal share held. 

New York city mayor pushes pension funds to dump coal stocks

By: Reuters New York City's mayor Bill de Blasio has called on the city's $160-billion public pension funds to dump their investments in coal companies and reconsider investments in other fossil fuels as he pushes a clean energy agenda for the city. De Blasio's comments on Tuesday are the latest in a... 

Mining’s bottoming presents opportunity to write new script – KPMG

By: Martin Creamer The bottoming of the resources market is presenting South Africa with a valuable opportunity to write a new exploration script that encourages investment ahead of all other mining jurisdictions. “Catch this wave now so that when the market turns, we can be in a space that tells investors they... 

Mining’s bottoming presents opportunity to write new script – KPMG
Photo by Duane Daws
Muhammad Saloojee

Resgen shareholder requests board reshuffle

By: Natasha Odendaal Resource Generation (Resgen) on Tuesday confirmed requests by major shareholder South Africa-based investment fund Altius Investment Holdings for the removal and replacement of the ASX-listed coal explorer’s board of directors. Altius subsidiary Shinto Torii, which held a 10.7% stake in the owner... 

India’s Coal Ministry finalises details of coal supply linkage auctions

By: Ajoy K Das India’s Coal Ministry has finalised the details of the proposed coal supply linkage auctions to various user industries. According to minutes of deliberations of an inter-Ministerial committee (IMC), which laid down the supply linkage auction last Thursday, 25% of the incremental production from... 

SEC statement on Hitachi violating Foreign Corrupt Practices Act

The Securities and Exchange Commission today (September 28, 2015) charged Tokyo-based conglomerate Hitachi, Ltd. with violating the Foreign Corrupt Practices Act (FCPA) when it inaccurately recorded improper payments to South Africa’s ruling political party in connection with contracts to build... 

SEC statement on Hitachi violating Foreign Corrupt Practices Act

Poland's PGE does not rule out including hard coal mines in group

By: Reuters Poland's largest utility PGE is open to the possibility of including restructured hard coal mines in its group, PGE's CEO Marek Woszczyk said on Monday. Asked if he envisaged including hard coal in PGE's value chain, he said: "If we are able to build this value chain according to a similar model... 

Molefe confirmed as Eskom CEO, Ngubane as chair 

By: Terence Creamer Cabinet has approved the appointment of Brian Molefe as permanent CEO of State-owned electricity producer Eskom and has also confirmed Dr Ben Ngubane as permanent board chairperson. Molefe has been acting CEO since his secondment from Transnet in April, while Ngubane took over as acting... 

Molefe confirmed as Eskom CEO, Ngubane as chair
Photo by Duane Daws
Brian Molefe

Blast optimisation can yield huge cost savings for coal miners

By: Zandile Mavuso By making improvements of just 1% to their operation’s efficiency through blasting optimisation, coal operators can save significant costs, says explosives manufacturer AEL Mining Services regional manager Hennie van Niekerk. 

Poland drops rescue plan for miner Weglowa to avoid European probe

By: Reuters Poland has withdrawn a rescue plan for coal miner Kompania Weglowa (KW) as the European Commission (EC) is unlikely to approve it, the treasury ministry said on Thursday. The Polish government earlier this month approved a plan to transfer part of its stakes in gas group PGNiG, utility PGE and... 

Edenville to supply Tanzania ministry with additional info by month-end

By: Sashnee Moodley Aim-listed coal mine and energy project developer Edenville Energy will, by the end of this month, provide the Tanzania Ministry of Energy and Minerals (MEM) with additional information related to the company’s mining licence application for the Rukwa project. The company submitted the mining... 

Edenville to supply Tanzania ministry with additional info by month-end

Coal futures drop to $50/t first time since 2003 as Goldman calls peak

By: Reuters Coal futures are trading at $50 a tonne for the first time since 2003 as the commodity downturn deepens, and US investment bank Goldman Sachs says the resource will never gain enough traction again to lift it out of its slump. Tumbling coal and metals have weighed heavily on mining shares this... 

Cockatoo sells Kingaroy

By: Esmarie Swanepoel Junior coal miner Cockatoo Coal has inked an agreement with fellow-listed Moreton Resources to divest of its Kingaroy exploration tenement, in Queensland. The Kigaroy tenement is located adjacent to Moreton’s Tarong basin coal asset. 

Light at the end of tunnel for met coal market in six months – analyst

By: Henry Lazenby The metallurgical (met) coal market could potentially look forward to the start of a recovery phase in about six months time, when some of the production cuts should start to come through in the market and customer stockpiles become depleted, mining and commodity veteran Neil Bristow tells Mining... 

Light at the end of tunnel for met coal market in six months – analyst

PAC recommends approval of Springvale mine extension

By: Esmarie Swanepoel The New South Wales Planning Assessment Commission (PAC) has determined that the proposed extension of the Springvale coal mine would be beneficial to the region and has recommended that Planning Minister Rob Stokes approve the project. Coal producer Centennial Coal was hoping to extend the life... 

PAC recommends approval of Springvale mine extension

Impairments push New Hope to FY loss

By: Esmarie Swanepoel Despite declining revenues, miner New Hope has posted a 25% improvement in its net profit after tax, before nonregular items. Net profit after tax for the full 2015 reached A$51.7-million, compared with the A$41.5-million reported in 2014, despite revenues declining from A$549-million to... 

Sable Mining looks to build power plant in Zim

By: Megan van Wyngaardt Aim-listed Sable Mining has signed a memorandum of understanding (MoU) with Chinese developer Citic Construction to develop a 600 MW coal-fired power plant at its 19 236 ha Lubu coal project, in Zimbabwe. Sable and Citic would explore the opportunities of using their respective expertise to work... 

CoAL, Yishun conclude share placement

By: Megan van Wyngaardt Triple-listed Coal of Africa Limited (CoAL) has completed a 183-million share placement to Yishun Brightrise Investment, at 5.15p apiece, raising £9.4-million. This satisfied the remaining conditions in the loan agreement between Yishun and CoAL pursuant to which Yishun had advanced a loan of... 

Universal considering rival bid

By: Esmarie Swanepoel Takeover target Universal Coal has been approached by another potential suitor. The South Africa-focused company previously asked shareholders not to take any action on a proposed takeover offer from shareholder IchorCoal, which had flagged its intention to make an all-cash offer of A$80-million... 

Universal considering rival bid
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