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Coal News

MC Mining secures R15m banking facility for Uitkomst colliery

By: Simone Liedtke     16th August 2018 Coal miner MC Mining’s 70%-owned Uitkomst colliery has procured a revolving asset facility from South African financial institution Absa Bank. Uitkomst intends to use the facility to finance the acquisition of new underground mining equipment following the transition to owner-operated mining at... 

Kibo receives water permit approval for MCPP

By: Simone Liedtke     16th August 2018 Aim-listed Kibo Energy has received provisional approval from the Lake Rukwa Water Basin Board for water permits for the Mbeya coal-to-power project (MCPP), in Tanzania. An application was made to permit the operation of numerous water boreholes, which the Africa-focussed energy company said are... 

New assets deliver turnaround for Yancoal

By: Esmarie Iannucci     16th August 2018 ASX-listed Yancoal Australia has reported significantly improved numbers in the six months ended June, after the acquisition of mining major Rio Tinto’s Coal & Allied assets in 2017. Yancoal on Thursday reported that revenue for the interim period had reached A$2.3-billion, compared with the... 

Hawks investigate cases related to Gupta-loot worth more than R40bn

By: News24Wire      16th August 2018 The Hawks are investigating cases related to the Guptas' state capture project that involves more than R40 billion which has been plundered from state coffers. Lieutenant General Godfrey Lebeya presented the Hawks' progress in several cases of state capture to the Portfolio Committee on Police on... 

Exxaro H1 profit lifts boosted by coal performance

By: Reuters     16th August 2018 Exxaro Resources said on Thursday half-year profit rose 8%, boosted by a strong performance in its core coal business. Diluted headline earnings per share (HEPS) for continuing and discontinued operations rose to 953 cents per share for the six-month period ended June 30 2018, from 882 cents in... 

Transnet signals intention to suspend CEO Gama

By: African News Agency      16th August 2018 The Transnet board has served notice on CEO Siyabonga Gama and two other top senior officials that it intends to place them on precautionary suspension. Chief procurement officer Thamsanqa Jiyana and supply chain manager Lindiwe Mdletshe also received letters on Wednesday. 

Transnet signals intention to suspend CEO Gama
Photo by Creamer Media
Transnet CEO Siyabonga Gama

Gordhan announces whistleblower hotline to boost fight against corruption

By: News24Wire      15th August 2018 Stabilising State-owned enterprises could take six months or longer, depending on the extent of corruption, said Public Enterprises Minister Pravin Gordhan. The minister on Wednesday briefed the portfolio committee on public enterprises on the progress made in addressing governance challenges at... 

Gordhan announces whistleblower hotline to boost fight against corruption
Photo by Dylan Slater
Public Enterprises Minister Pravin Gordhan

Kibo to acquire 60% stake in UK energy company

By: Simone Liedtke     15th August 2018 Africa-focussed energy company Kibo Energy has signed a memorandum of understanding (MoU) for the acquisition of a 60% equity interest in UK company Mast Energy Developments (MED). Under the terms of the MoU, Kibo can acquire a 60% shareholding in MED for £300 000 payable to existing MED... 

Lazard drafting plan to bolster Eskom's balance sheet – sources

By: Reuters     14th August 2018 State-owned power firm Eskom has hired financial adviser Lazard to draft a plan to shore up its balance sheet as it struggles to emerge from a financial crisis, two banking sources told Reuters. Cash-strapped Eskom is critical to Africa's most industrialised economy as it supplies more than 90%... 

Japan utilities, Glencore set annual coal contract at $110/t – sources

By: Reuters     14th August 2018 Japanese utilities and global mining giant Glencore have settled an Australian thermal coal import contract for April 2018 to March 2019 at $110/t, according to several people with knowledge of the matter. The deals were struck between Glencore and Japanese utilities such as Shikoku Electric,... 

Rukwa plant upgrade set for completion in September

By: Simone Liedtke     14th August 2018 Aim-listed Edenville Energy is planning to complete the upgrade of the processing plant at its Rukwa coal project, in Tanzania, by the end of September, which will allow for increased throughput. A Lamella clarifier water treatment plant is nearing assembly stage completion and will be installed... 

Whitehaven posts record profits

By: Esmarie Iannucci     14th August 2018 Coal miner Whitehaven Coal has reported a record net profit after tax of A$525.6-million for the 2018 financial year ending June, with sales revenues up by 27% and underlying earnings before interest, tax, depreciation and amortization (EBITDA) up by 32% on the previous financial year. Revenue... 

Whitehaven posts record profits

China coal output hits lowest in years, but heatwave boosts power generation

By: Reuters     14th August 2018 China's coal output fell 2% in July to its lowest in years as Beijing's crackdown on polluting industries crimped mining in the world's top consumer of the fuel, driving import demand as hot weather boosted thermal power generation. The country produced 281.5-million tonnes of coal in July, down... 

Seven die in Pakistan mine blast, six missing

By: Reuters     13th August 2018 A mine explosion in Pakistan's southwestern city of Quetta killed at least seven coal miners, a mining official said on Monday, with authorities expecting the death toll could rise. The bodies of the dead were recovered on Monday morning, with efforts being made to retrieve six more men trapped... 

Realm takeover closes with T2 the winner

By: Esmarie Iannucci     13th August 2018 The takeover offer for ASX-listed Realm Resources has closed, with suitor T2 Resources holding a 96.3% interest. T2 has now informed the remaining Realm shareholders that the company will initiate a compulsory acquisition of the remaining shares in Realm.  

After ditching a billion-ton target, Coal India reviews demand and diversification afresh

By: Ajoy K Das     13th August 2018 Formally acknowledging that its one-billion ton a year production target by 2020 will not be met, Coal India Limited (CIL) will undertake a complete review of domestic coal demand and diversification of business verticals. India’s largest coal miner will take a fresh view of domestic demand and... 

Buffalo’s future uncertain as it awaits funding proposals for Aviemore adit project

By: Creamer Media Reporter      10th August 2018 Coal producer Buffalo Coal is awaiting the submission of possible final offers from bidders interested in investing in its Aviemore mine, in KwaZulu-Natal. The mine has 18 months of life-of-mine (LOM) reserves left. To extend the LOM to 15 years, R445-million of additional capital is needed to... 

Barloworld Equipment launches next-generation excavators in the Southern African market

By: Nadine James     10th August 2018 Southern African dealer for Cat earthmoving equipment Barloworld Equipment officially launched three new Cat excavator models – the 320, 320GC and 323 – at an event held at the Nasrec Exhibition Centre, last week. All three boast increased operating efficiency, lower fuel and maintenance costs as... 

Barloworld Equipment launches next-generation  excavators in the Southern African market
CAT 323 Delivering high production performance, the new Cat 323 boasts standard integrated Cat Connect Technology and the most power and lift capacity in the line

Mafube colliery trialling use of mining-impacted water for agriculture

By: Nadine James     10th August 2018 Anglo American Coal South Africa’s Mafube colliery has been selected as the first trial site to determine the long-term sustainability of using mine-impacted water in agriculture. While irrigation with perceived poor-quality water frequently occurs in arid countries such as Israel, the South... 

Mafube colliery trialling use of  mining-impacted water for agriculture
Photo by Bloomberg
AMAZING EFFORT The first maize crop was irrigated with water from the Mafube pit and has since been harvested. The area yielded 14.5 t/ha, compared with 8t/ha from dryland crops

Vale reports lower coking coal earnings, but thermal product sales rise

By: Rebecca Campbell     10th August 2018 During the second quarter of this year (2Q18), Brazilian mining major Vale’s coal business achieved earnings before interest, taxes, depreciation and amortisation (Ebitda) of $45-million. Vale’s coal business is composed almost entirely of its Moatize mine in the inland Tete province of... 

Glencore closing in on oil deal, transacting with Eskom 

By: Martin Creamer     8th August 2018 The local downstream oil investments of diversified mining and marketing company Glencore are expected to be concluded in the near future. Talking during a media conference after the Johannesburg- and London-listed company posted outstanding half-year results that won analyst applause, Glencore... 

Glencore closing in on oil deal, transacting with Eskom
Photo by Creamer Media
Glencore CEO Ivan Glasenberg

Sitatunga Resources hopes to create jobs at newly acquired colliery

By: Anine Kilian     8th August 2018 Exploration and mining project development company Sitatunga Resources, which has bought Wescoal’s coal assets near Newcastle, KwaZulu-Natal, believes its investment in the Braakfontein Colliery will create much-needed jobs in the area. Braakfontein Colliery is an advanced-stage exploration... 

Indian private thermal power plants critical of CIL e-auctions

By: Ajoy K Das     8th August 2018 India’s independent power producers (IPPs) have flayed State-run Coal India Limited’s (CIL) move to push higher sales through e-auctions forcing thermal power plants without fuel linkages to resort to high cost dry fuel imports. However, simultaneously, the Power Ministry has asked all thermal... 

Glencore darts ahead of diversified rivals

By: Martin Creamer     8th August 2018 The strength of the business model and commodity mix of mining and marketing company Glencore has been demonstrated once again by sharp increases in earnings and net income in the six months to June 30. The earnings before interest, taxes, depreciation and amortisation (Ebitda) of the 146... 

Glencore darts ahead of diversified rivals
Glencore CEO Ivan Glasenberg

Universal's A$18.6m deal advances

By: Esmarie Iannucci     8th August 2018 The South African Department of Mineral Resources (DMR) has given ASX-listed Universal Coal approval for the transfer of ownership of the Glisa and Eerstelingsfontein mining rights. Universal, through a 49%-owned subsidiary North Block Complex Proprietary (NBC), in March entered into an... 

Wescoal to dispose of LBC assets

By: Anine Kilian     7th August 2018 JSE-listed Wescoal has, through its wholly-owned subsidiary, Leeuw Braakfontein Colliery (LBC), entered into a sale of assets with Sitatunga Resources in terms of which LBC will dispose of its LBC assets in KwaZulu-Natal. The total consideration for the disposal is R103-million and will be paid... 

Atrum hoping to amend Jogmec deal

By: Esmarie Iannucci     7th August 2018 ASX-listed Atrum Coal is hoping to amend its joint exploration agreement with Japan Oil, Gas and Metals National Corporation (Jogmec) at the Panorama North coal project, in Canada, to include the Panorama South project. The two companies have agreed to convert the exclusivity Jogmec has had to... 

New Hope buys 40% in Bengalla from Wesfarmers

By: Esmarie Iannucci     7th August 2018 Coal miner New Hope Corporation has struck an A$860-million deal with fellow-listed Wesfarmers to purchase a further 40% interest in the Bengalla joint venture (JV), in New South Wales. News of the transaction that will increase New Hope’s holding in the project to 80% has lifted New Hope’s... 

New Hope buys 40% in Bengalla from Wesfarmers

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand 

By: Terence Creamer     6th August 2018 State-owned electricity producer Eskom has confirmed that it has entered into a sales incentive pilot programme with nine large industrial customers in a bid to stabilise sales to electricity-intensive industries. The two-year sales incentive pilot programme, which commenced on June 1, has the... 

Eskom pilots incentive designed to claw back 5 TWh of energy-intensive demand

Dartbrook underground poised for restart with partner

By: Esmarie Iannucci     6th August 2018 ASX-listed Australian Pacific Coal has struck a joint venture (JV) agreement with a subsidiary of Stella Natural Resources to restart underground operations at the Dartbrook coal mine, in New South Wales. Under the terms of the binding agreement, SNR Mineral Assets will pay Australia Pacific... 

Power system recovery to take 30 days, load-shedding risk remains high 

By: Simone Liedtke     3rd August 2018 State-owned Eskom expects it will take up to 30 days for the power system to recover from the effects of the recent industrial action, which interrupted continuous processes at the power stations. During the 30-day recovery period, the risk of load-shedding remains high, it warned on Friday. 

Power system recovery to take 30 days, load-shedding risk remains high

Noble Group sues Australian coal producers for alleged breaches

By: Bloomberg     3rd August 2018 Noble Group, the commodity trader seeking to push through a restructuring after losing billions of dollars and defaulting, has filed a claim in Australia against two coal producers for alleged breaches of contractual obligations under a marketing services agreement. The Singapore-listed company,... 

Erudite adopts a fresh approach to transformation 

By: Nadine James     3rd August 2018 Becoming a sustainable and relevant mining industry service provider requires a genuine effort to meet and address issues of localisation and transformation, while fostering local partnerships to develop extractive projects in African countries, suggests engineering, procurement and construction... 

Erudite adopts a fresh approach to transformation
Erudite chairperson Vince Raseroka and CE Johann de Bruin discuss the need for an African-focused EPCM mining services provider. Video: Darlene Creamer; Editing: Nicholas Boyd

S African company supplies four hoppers to Kenyan port

By: Halima Frost     3rd August 2018 South Africa-based equipment supplier BLTWORLD has assisted in supplying four materials handling specialist SAMSON Eco-Hoppers to the Kenyan Port of Mombasa, in June this year. Acquiring the hoppers is part of the Mombasa Resilient Infrastructure Programme (MRIP) initiative by the Kenya Ports... 

S African company supplies four hoppers to Kenyan port
OUT OF THE QUAY The SAMSON hoppers can be moved to free up space where needed

Further progress required in gender transformation

By: Tasneem Bulbulia     3rd August 2018 The mining industry has made major strides as an equal opportunity employer, and is not as bad as some people perceive it to be, with a number of opportunities available for women through employment opportunities and training and development, says diversified natural resource company Glencore... 

Further progress required in gender transformation
ROCK AND A HARD PLACE The conditions and culture in hard rock mines remain tough for the majority of women

Number of female mineworkers gradually increasing as technology and conducive policies are introduced

By: Nadine James     3rd August 2018 The mining industry remains male dominated and much can still be done to address issues that specifically affect women. However, policies aimed at attracting, supporting and retaining women have led to a gradual, but steady increase in the number of women in core roles, as well as the industry in... 

Number of female mineworkers gradually increasing  as technology and conducive policies are introduced

MC Mining takes over Uitkomst mining

By: Esmarie Iannucci     2nd August 2018 Coal miner MC Mining will spend some $4.9-million to acquire the mining equipment from independent mining contractor Khethekile Mining, allowing the company to transition to an owner-operator model at its Uitkomst colliery, in South Africa. The equipment includes a conveyor system and coal... 

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