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Coal News

Chamber files for review of 'disastrous' Mining Charter

By: News24Wire      18th October 2017 The Chamber of Mines filed an application in the North Gauteng High court on Tuesday to have a judicial review and setting aside of the Mining Charter. According to the founding affidavit, the Charter released by Mineral Resources Minister Mosebenzi Zwane on June 15 had, and continues to have, a... 

South African mining industry must modernise – Chamber of Mines

By: Dylan Slater     18th October 2017 The South African mining industry has to modernise as a matter of urgency in order to halt job cuts in the industry, as well as to create more jobs, says Chamber of Mines modernisation and safety head Sietse van der Woude. Delivering a keynote address at diversified engineering solutions company... 

Ncondezi raises £750 000

By: Anine Kilian     18th October 2017 Aim-listed Ncondezi Energy has raised £750 000, before expenses, through an oversubscribed placing of 15-million ordinary shares at a price of 5p a share. The company will use the funds raised by the placing to cover nonproject corporate costs until the end of August 2018, before the maturity of... 

Zwane to Parliament – Am I being investigated?

By: News24Wire      18th October 2017 "Am I being investigated? I need to know so that we can start dealing with facts and not allegations that are in the media." Those were the introductory remarks from Mineral Resources Minister Mosebenzi Zwane who is currently appearing before Parliament's portfolio committee on mineral resources... 

America's miners are digging for hotter coals as old plants shut

By: Bloomberg     18th October 2017 Early next year, three massive coal-fired power plants in Texas will close for good. And their absence will be felt 1,000 miles away in the coal pits of Wyoming and Montana. There, in the energy-rich Powder River Basin, miners have for decades carved out coal that’s cheap but packs less heat than... 

Moz coal assets come back to haunt former Rio Tinto CEO, CFO

By: Esmarie Swanepoel     18th October 2017 The US Securities and Exchange Commission (SEC) has laid charges of fraud against diversified miner Rio Tinto and its former CEO Tom Albanese and CFO Guy Elliott. The SEC in a statement this week said that the company and the former two executives had inflated the value of Mozambique coal... 

Moz coal assets come back to haunt former Rio Tinto CEO, CFO
Photo by Duane Daws
Tom Albanese

BHP on track for 7% volume growth in FY18; guidance intact

By: Henry Lazenby     18th October 2017 The world’s largest mining house BHP Billiton said on Wednesday it remained on track for a 7% volume growth in the 2018 financial year, leaving its full-year 2018 guidance unaltered. The Melbourne, Australia-based miner reported its operating results for the three months ended September 30,... 

BHP on track for 7% volume growth in FY18; guidance intact

Keaton units perform in line with expectations – Wescoal

By: Anine Kilian     17th October 2017 JSE-listed Wescoal on Tuesday said the integration of Keaton was progressing well. Key technical and mining skills have been retained successfully and operational and financial performance, to date, from the Keaton business units are in line with expectations. 

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

By: Kim Cloete     17th October 2017 Parliament’s Portfolio Committee on Public Enterprises has started its keenly awaited inquiry into allegations of State capture, with a warning that key witnesses will not be allowed to shy away from appearing before Parliament. “We have a right to subpoena a witness if we think that witness has... 

Key witnesses in State capture inquiry will need to face the music, warns parliamentary committee chair

Gately to step down as Resgen chair

By: Creamer Media Reporter      17th October 2017 Denis Gately will resign as chairperson and director of coal development company Resource Generation, known as Resgen, with effect from November 22. The company’s other directors have proposed to elect Lulamile Xate to succeed him as chairperson. 

Stanmore sets new sales record

By: Esmarie Swanepoel     17th October 2017 ASX-listed coal miner Stanmore Coal has reported record coal sales for the September quarter, despite output declining by 20% compared with the previous quarter. Coal sales for the quarter were up 55% on the June quarter to 411 000 t, reducing coal stocks from 258 000 t to 164 000 t. 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance

By: Esmarie Swanepoel     17th October 2017 Diversified major Rio Tinto has reported increased production across its iron-ore and coal assets, but has adjusted its copper output expectations for the full year on the back of delays at the Escondida operation. “The business performed very well in the September quarter, with a strong... 

Rio Tinto produces more iron-ore and coal, but cuts copper guidance
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

Exploration, junior culture needed to save mining – Bristow 

By: Martin Creamer     16th October 2017 Unless South Africa starts exploring again and finds new ore deposits, the country will continue to turn out the lights of the mining sector. With poor policy added, disinvestment and lack of interest will ultimately stop South Africa’s mining industry in its tracks, which will deal a colossal... 

Exploration, junior culture needed to save mining – Bristow
Top resources consultant Dr John Bristow outlines the urgent need for exploration to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Eskom must implement ‘aggressive’ cost cutting, EIUG says as it urges Nersa to reject 19.9% hike

By: Terence Creamer     14th October 2017 Eskom’s application for a 19.9% tariff hike from April 1, 2018, is unacceptable and will result in the partial or full closure of plant capacity and increase unemployment, the Energy Intensive Users Group (EIUG) states in a written submission to the National Energy Regulator of South Africa... 

Eskom must implement ‘aggressive’ cost cutting, EIUG says as it urges Nersa to reject 19.9% hike

South32 restarts Appin following broader Illawarra review

By: Esmarie Swanepoel     13th October 2017 Diversified miner South32 will restart production at its Appin mine, in New South Wales, following a review into its Illawarra metallurgical coal operating systems and processes. The company on Friday said that it had completed remedial actions at Appin to safely and sustainably restart... 

Investor support for Tanzania-focused company

     13th October 2017 All subscribers to the convertible loan notes issued on September 27 by Tanzania-focused mineral exploration and development company Kibo Mining have elected to convert the notes to Kibo shares. The notes were converted at a Kibo share price of £0.05, which was calculated in accordance with the... 

Investor support for Tanzania-focused company
Photo by Bloomberg
TANZANIAN COAL TO POWER Kibo is undertaking twin track development at Mbeya comprising a coal mine based on the existing coal resources and a 250 MW to 300 MW mouth-of-mine thermal power plant – the Mbeya coal-to-power project

Canyon Coal optimistic about local mining industry despite headwinds

By: Ilan Solomons     13th October 2017 Despite current policy uncertainty relating to the implementation of Mining Charter 3 and a struggling South African economy having adverse effects on the local mining industry, South African junior coal mining company Canyon Coal is buoyant about the future. The company’s management has adopted... 

Canyon Coal optimistic about local  mining industry despite headwinds
Photo by Duane Daws
GROWTH AMBITIONS Canyon aims to graduate to a midtier coal miner by 2020, as it ramps up production from 3.6-million tons of coal a year to 10-million tons a year

Zim coal miner posts revenue decline but operating loss narrows

By: Ilan Solomons     13th October 2017 Zimbabwe coal mining and exploration company Hwange Colliery Company (HCC) recorded a 23% year-on-year decline in revenue for the six months to end June, it reported last month. The company’s revenue stands at $18.8-million, which is substantial decline from the $24.5-million recorded during the... 

Zim coal miner posts revenue decline but operating loss narrows
HWANGE COLLIERY, ZIMBABWE The company’s revenue stands at $18.8-million, which is substantial decline from the $24.5-million recorded during the same period last year

Self-starters share secrets to success in the South African mining sector

By: Ilan Solomons     13th October 2017 There are many ways for entrepreneurs to enter the mining industry, including as project developers, service providers and product suppliers – all of which hold great opportunities and challenges, states mining investment advisory company MX Mining Capital Advisors director Dr Mike Seeger. The... 

Self-starters share secrets to success  in the South African mining sector

CoAL settles major liabilities, transitions into coal producer in 'extremely positive year'

By: Mia Breytenbach     13th October 2017 Following an “extremely positive and transformational year” in which South Africa-focused Coal of Africa Limited (CoAL) achieved significant milestones, such as settling significant liabilities and transitioning into a coal producer with the acquisition of the cash-generative Uitkomst colliery,... 

R20bn Swazi Rail Link being prepared for presentation to investors before year-end 

By: Terence Creamer     12th October 2017 An expression of interest (EoI) for the R20-billion crossborder Swazi Rail Link infrastructure project between South Africa and Swaziland will be released to potential investors before the end of 2017, South Africa’s Transnet Freight Rail (TFR) and Swaziland Rail confirmed on Thursday. The 150 km... 

R20bn Swazi Rail Link being prepared for presentation to investors before year-end
R20bn Swazi Rail Link being prepared for presentation to investors before year-end. Video and video editing: Darlene Creamer 12.10.2017

South African mining production surges 6.9% in August, exceeds expectations

By: African News Agency      12th October 2017 Mining production in South Africa increased by 6.9% year-on-year in August whilst seasonally adjusted mining production increased by 5.3% in the same month compared with July, Statistics South Africa (StatsSA) said on Thursday. StatsSA said the biggest contributors to the jump in production were... 

Eskom facing threats on multiple fronts, Maritz acknowledges

By: Terence Creamer     12th October 2017 Eskom’s newest interim group CEO Sean Maritz has acknowledged that the utility is facing threats on multiple fronts in light of rapid changes to the global electricity landscape and the constrained outlook for domestic electricity sales. However, in a statement calling for “space and time to... 

Eskom facing threats on multiple fronts, Maritz acknowledges
Photo by Duane Daws
Eskom interim group CEO Sean Maritz

Minergy’s Botswana coal project given quantity, quality boost

By: Martin Creamer     12th October 2017 Coal mining and trading company Minergy on Thursday reported both a quantity and quality boost to its Masama coal project in Botswana. The company, headed by CEO Andre Bojé, plans to build an opencast coal mine at Masama with the potential to produce 2.4-million tonnes of coal a year. 

Minergy’s Botswana coal project given quantity, quality boost
Minergy CEO Andre Bojé

Whitehaven sees higher thermal prices

By: Esmarie Swanepoel     12th October 2017 Coal miner Whitehaven Coal has reported a 5% increase in run-of-mine (ROM) coal production and a 14% increase in saleable coal production for the three months to September, compared with the previous corresponding period. The company on Thursday announced that ROM coal production for the... 

Kangala reserve increased by 23.6Mt

By: Esmarie Swanepoel     12th October 2017 South Africa-focused coal miner Universal Coal has reported a 23.65-million increase in the ore reserve at its Kangala operation. The Kangala operation is estimated to host an ore reserve of 35.94-million tonnes, with the hike resulting from the completion of a prefeasibility study on the... 

Kangala reserve increased by 23.6Mt

MPs dismayed as chief procurement officer silent on Eskom contracts

By: African News Agency      11th October 2017 Acting chief procurement officer Willie Mathebula apologised to Parliament’s standing committee on finance on Wednesday for giving a “sub-standard presentation” after members expressed dismay that he claimed no direct knowledge of the withdrawal of a damning report on Eskom’s coal contracts with... 

MPs dismayed as chief procurement officer silent on Eskom contracts

SA black consumer body urges regulator to reject Eskom’s tariff hike application

By: African News Agency      11th October 2017 The National Black Consumer Council (NBCC) on Wednesday said that it opposed Eskom’s proposed application for a 20% electricity tariff increase next year. TheNBCC urged the National Energy Regulator of South Africa (Nersa) to reject the troubled power utility’s application and rather grant it “a... 

ARM appoints two nonexecutive directors

By: Martin Creamer     11th October 2017 Diversified mining company African Rainbow Minerals (ARM) on Wednesday announced the appointment of two new nonexecutive directors. They are David Noko, who has been appointed as an independent nonexecutive director, and Jan Steenkamp, who has been appointed as a nonexecutive director. 

ARM appoints two nonexecutive directors
David Noko

NTPC to ratchet up coal production from captive mines

By: Ajoy K Das     11th October 2017 India’s largest power utility, NTPC, is aiming to source as much as 67% of its thermal coal requirement from captive mines within the next year. NTPC, which has been allocated ten coal blocks for captive mining, has already initiated a process of opening technical bids, awarding contracts and... 

Coal India signs salary increase deal with workers unions

By: Bloomberg     11th October 2017 Coal India Limited signed an agreement with workers unions to raise salaries of its non-executive staff, ending months of negotiations over the increase that affects pay until 2021. The State-run miner will incur an average annual cost of 56.67-billion rupees ($868-million) because of the rise,... 

Cokal raises A$4m to get started on BBM Stage 2

By: Esmarie Swanepoel     11th October 2017 Coal producer Cokal has announced plans to raise A$4-million to assist in funding the Stage 2 development of its flagship Bumi Barito Mineral (BBM) project, in Indonesia, as Stage 1 production continues apace. The miner on Wednesday reported that Stage 1 of the BBM asset was achieving... 

Exxaro sells Tronox shares for R6.5bn

By: Martin Creamer     11th October 2017 Diversified mining company Exxaro Resources has completed the sale of a portion of its shareholding in American mineral sands company Tronox for R6.5-billion. Exxaro, headed by CEO Mxolisi Mgojo, said on Wednesday that it had raised $474-million from the sale of 22 425 000 class A ordinary shares... 

Exxaro sells Tronox shares for R6.5bn
Photo by Duane Daws
Exxaro CEO Mxolisi Mgojo

Edenville secures five-year offtake agreement for Rukwa coal

By: Creamer Media Reporter      10th October 2017 Aim-listed Edenville Energy has signed a five-year coal offtake agreement with Kenya-based coal and commodities trader Riftcot. Under the terms of the agreement, Riftcot will buy up to 75% a year of coal produced at Edenville’s Rukwa project, in Tanzania, at a recognised commercial market price. 

Black Business Council says Eskom CEO musical chairs doesn’t inspire confidence 

By: African News Agency      9th October 2017 The Black Business Council (BBC) said on Monday that it was concerned by the sudden change of leadership at State-owned power utility Eskom, saying that government must give the enterprise some space and not meddle in its affairs. This comes after Eskom last week appointed its chief information... 

Sasol changes funding option to settle old BEE scheme debt

By: African News Agency      9th October 2017 Sasol on Monday announced that it would explore different funding options to settle the financing obligations of its failed broad-based black economic empowerment (BBBEE) ownership structure. Sasol said it will no longer pursue the preferred funding option of issuing up to 43-million ordinary... 

Aspire granted mining lease at Nuurstei

By: Esmarie Swanepoel     9th October 2017 Coal junior Aspire Mining has been granted a mining lease for its Nuurstei coking coal project, in Mongolia. The mining licence from the Mineral Resources Authority of Mongolia provides the ASX-listed company with a minimum 30-year tenure over the licenced area, and will result in Aspire issue... 

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