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India’s coal block auction to be ready by June

By: Ajoy K Das The Indian government will be ready to start the auction of coal blocks to standalone domestic and foreign miners by June this year, an official in the Ministry of Coal said. The process of identifying suitable coal blocks had already begun and rules for allocating these through auction would be... 

Glencore cuts Australian coal exports to match demand

By: Esmarie Swanepoel Johannesburg-, London- and Hong Kong-listed mining major Glencore on Friday announced that it would reduce its Australian coal exports by some 15-million tonnes in 2015, to align output with current customer demand. The decision to decrease coal exports from Australia followed the miner’s move in... 

Colombian mining tax regime counterproductive to investment, profit

By: Henry Lazenby The Colombian mining tax regime has imposed a significantly high tax burden on marginal investments in mining, discriminated across minerals and was counterproductive to project profitability, pointing to a need to improve the country's mining tax regime. This was according to a report released... 

Vale reports increased production in Mozambique while Tata Steel decides to leave

By: Keith Campbell Brazilian mining major Vale has reported its Moatize coal mine in Mozambique set a new production record last year. This was revealed in the group’s recently published 2014 and 4Q14 Production Report. It also set a new record for quarterly production during the fourth quarter (4Q). It further... 

Resgen reveals possible financiers for Boikarabelo construction

By: Megan van Wyngaardt South Africa-focused coal miner Resource Generation (Resgen) on Thursday revealed that it was in negotiations with FirstRand Bank, acting through its Rand Merchant Bank division, HSBC Bank - Johannesburg Branch, the Industrial Development Corporation, Noble Resources International and Export... 

Atrum inches closer to offtake agreements

By: Esmarie Swanepoel Coal developer Atrum has inched closer to a takeoff deal at its Groundhog project, in Canada, signing a memorandum of understanding (MoU) to negotiate binding sales agreements. The MoUs were inked with Japanese firms, including some of the country’s largest corporate conglomerates. 

Grindrod to invest in Maputo port, RBay coal and Africa rail projects

By: Irma Venter Freight services and shipping group Grindrod would upgrade capacity at its Richards Bay coal and magnetite terminal from 3.2-million tons a year, to 4.5-million tons a year, said Grindrod CEO Alan Olivier on Wednesday. Speaking at the company’s annual results presentation in Johannesburg, he said... 

Grindrod to invest in Maputo port, RBay coal and Africa rail projects

Coalspur receives $15m offer from KCE

By: Esmarie Swanepoel Dual-listed coal developer Coalspur has become a takeover target, with the Canada-focused company announcing on Wednesday that it had entered into a definitive agreement with coal producer KC Euroholdings. KCE, which is the parent company of Kameron Collieries – the owner of the Donkin coal... 

Paringa increases measured resource in US

By: Esmarie Swanepoel Coal junior Paringa Resources has increased the measured and indicated resource at its Buck Creek mining complex, in the US, by 54%, to 211-million tonnes. The company pointed out on Wednesday that the measured and indicated resource now represented 98% f the total 216.5-million tonnes at the... 

Colombia govt forecasts 10% increase in 2015 coal output

By: Reuters Colombia, the world's fourth-biggest coal exporter, expects to produce 97.8-million tonnes of the fossil fuel this year, up 10% from 88.6-million tonnes in 2014, the government's UPME energy planning department said on Tuesday. Coal output last year fell only slightly short of the government's... 

Turquoise Hill Resources to sell remaining SouthGobi stake to Chinese firm 

By: Henry Lazenby Rio Tinto subsidiary Turquoise Hill Resources has reached a deal with Chinese holding firm Novel Sunrise Investments to buy its remaining stake in Mongolia-focused coal miner SouthGobi Resources. Turquoise Hill, which has a 66% interest in the massive Oyu Tolgoi copper/gold mine, in the same... 

South32 catalyst for next wave of productivity gains – BHP Billiton

By: Martin Creamer Mining giant BHP Billiton, which pulled a free cash flow rabbit out of the thrashed commodity price hat in the six months to December 31, intends the spinoff of South32 to be the catalyst for the new wave of productivity gains in the period ahead “because if you keep doing the same thing, you... 

South32 catalyst for next wave of productivity gains – BHP Billiton
Photo by Duane Daws
Peter Beaven

Petmin lifts H1 earnings by a ‘satisfying’ 25%

By: Natalie Greve JSE-listed Petmin has described its growth for the six months ended December 31 as “satisfying”, stating on Tuesday that it had succeeded in driving up headline earnings by 25% over the half-year, despite difficult trading conditions at its Somkhele anthracite mine, in KwaZulu-Natal. The company,... 

S Africa grants five-year reprieve to worst air polluting firms 

By: Reuters South Africa has given a five-year reprieve to some top polluters, including power utility Eskom, to meet new air emissions standards, the environmental minister said on Tuesday. The continent's worst polluter and most advanced African economy belches-millions of tonnes of carbon dioxide into the... 

S Africa grants five-year reprieve to worst air polluting firms

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

Zimbabwe's Hwangwe Colliery in talks to sell coal to Glencore

By: Reuters Zimbabwe coal producer Hwange Colliery said on Monday it was negotiating to supply coal and coke to global miner Glencore and a deal could be reached at the end of this month, its managing director said. Thomas Makore said Hwange, which mines in the northwest of the country and is the biggest... 

QRC highlights importance of coal to Qld, NSW economies

By: Esmarie Swanepoel The Queensland and New South Wales coal industries delivered more than A$66-billion to the local economies and supported 381 000 jobs in 2013/14, new data has revealed. The Queensland Resources Council (QRC) pointed out on Monday that coal miners spent about A$31.3-billion during the same... 

QRC highlights importance of coal to Qld, NSW economies

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Investor asks SunCoke to chart growth path or seek sale

By: Reuters SunCoke Energy's third-largest shareholder, hedge fund Jet Capital Investors LP, asked the coke producer to sell itself if it cannot show it can grow. Shares of SunCoke Energy, whose coke is used in steel making, rose as much as 6.5% on Friday. The company was valued at $1.14-billion at... 

IPP Office to issue gas RFI in March, aims to release tender before year-end 

By: Terence Creamer The South African government's Independent Power Producer (IPP) Office will release a request for information (RFI) in March for possible domestic gas-to-power projects, as a precursor to a possible 3 000 MW tender that should arise before year-end. IPP Office head Karen Breytenbach indicated on... 

IPP Office to issue gas RFI in March, aims to release tender before year-end
Photo by Duane Daws
IPP Office head Karen Breytenbach

Botswana still auspicious mining jurisdiction

By: Mia Breytenbach Having ranked consistently as one of the top mining jurisdictions in Africa, Botswana remains a favourable mining destination for investment – despite current infrastructure challenges and the global economic downturn, mining consultancy Core Consultants MD Lara Smith tells Mining Weekly. She... 

Botswana still auspicious mining jurisdiction
Photo by Reuters
AGAINST THE ODDS Botswana remains an auspicious mining destination, despite current infrastructure and macroeconomic challenges

Mozambique assures miners about transport, while Indian company posts poor results

By: Keith Campbell The Mozambican government is creating the framework which will allow mining companies to transport their coal from the Moatize basin in the province of Tete to the coast. This assurance was given last week by Transport and Communications Minister Carlos Mesquita. He was responding to complaints... 

‘Moribund’ Botswana coal industry requires gentle approach – consultant

By: Mia Breytenbach With little or no coal mining exploration currently under way in Botswana, the industry has become “moribund”, says mining consultancy Analytika Holdings director Alan Golding. “While the Botswana coal mining industry has expanded to current production of about 3.5-million tons a year, the lack... 

‘Moribund’ Botswana coal industry requires gentle approach – consultant
LACKING VITALITY While the Botswana coal mining industry has expanded to current production of about 3.5-million tons a year, the lack of a significant market remains a key challenge

Petmin expects 49% increase in H1 earnings

JSE-listed diversified miner Petmin expects its basic earnings a share for the six months ended December 31 to increase by up to 49% to 84.45c. Headline earnings a share for the six months were expected to be between 8.35c and 8.45c, up 24% to 26% form the 6.71c recorded in the first half of the... 

World needs immediate carbon-price signal, Global Electricity Initiative chair argues 

By: Terence Creamer Executive chairperson of the Global Electricity Initiative (GEI) Philippe Joubert says energy utilities globally, together with the business community more generally, have come to terms with the science of climate change, particularly as extreme weather events begin impacting their profitability.... 

World needs immediate carbon-price signal, Global Electricity Initiative chair argues
Photo by Duane Daws
Global Electricity Initiative executive chairperson Philippe Joubert

Indian coal block auctions see aggressive bidding on supply concerns

By: Reuters Indian metal and cement companies have bid aggressively for coal blocks in the country's first auctions to sell mines as they look to cut imports and their dependence on inefficient government monopoly Coal India Ltd. The auction follows a court cancellation of all previous licences and the... 

Brown announces Medupi turbine milestone, confirms sync delay 

By: Terence Creamer Public Enterprises Minister Lynne Brown used the platform provided by the State of the Nation Address debate on Wednesday to announce that the turbine at Medupi Unit 6 was "running at the optimum speed of 3 000 revolutions per minute", which represented a "critical milestone" in the commissioning... 

Brown announces Medupi turbine milestone, confirms sync delay
Photo by Duane Daws
Public Enterprises Minister Lynne Brown

Parliamentary minerals law review limited to four points

By: Martin Creamer The review of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill would be restricted to four recommendations and the focus would be on whether or not these passed constitutional and procedural muster, Mineral Resources Parliamentary Portfolio Committee chairperson... 

Parliamentary minerals law review limited to four points
Photo by Duane Daws
Ngoako Ramatlhodi

Sasol amends ‘progressive’ dividend policy, management structures

By: Natalie Greve Petrochemicals group Sasol has amended its “progressive” dividend policy, which sees dividends improved or maintained in line with the company’s earnings, in light of a low oil price environment and current macroeconomic conditions. “The revised policy is based on a dividend cover range, which... 

Sasol amends ‘progressive’ dividend policy, management structures

CIL willing to increase capex for infrastructure investment

By: Ajoy K Das Major Coal India Limited (CIL) is willing to increase its already-planned capital outlay of $966-million for 2015/16, if collaborations in logistics and transportation projects are successfully pushed forward. According to a company official, the company's capital investments for the forthcoming... 

Paringa secures more land at Buck Creek

By: Esmarie Swanepoel Coal hopeful Paringa Resources has secured two new coal leases within its Buck Creek mining complex, in the US, bringing the total landholding in the district to some 8 500 acres. “Our successful leasing programme has significantly de-risked the development of the Buck Creek No 1 mine, and paved... 

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