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Sitatunga Resources hopes to create jobs in R103 million KZN colliery deal

By: Creamer Media Reporter      8th August 2018 Exploration and Project Development Mining Company, Sitatunga Resources, has purchased Wescoal’s coal assets near New Castle, KwaZulu-Natal, for R103 million. The assets include an approved mining right and overlaying surface rights. Sitatunga, on the 7th August  2018, signed an agreement to buy... 

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... 

Dartbrook underground poised for restart with partner

By: Esmarie Swanepoel     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... 

AMSA studies new Vanderbijl electric arc furnace as it moves to restart Vereeniging mill 

By: Terence Creamer     1st August 2018 Steel producer ArcelorMittal South Africa (AMSA), which announced its first interim profit in six years and may be on track to deliver its first full year profit since 2010, has initiated a study for the construction of a new electric arc furnace (EAF) at its Vanderbijlpark mill and has also... 

Transnet signs manganese capacity allocation contract with Assmang

By: Anine Kilian     25th July 2018 State-owned Transnet has signed a seven-and-a-half-year Manganese Export Capacity Allocation (MECA2) contract with Assmang as part of its strategy to secure 95% of manganese volumes on rail. The contract, which will see the transportation of export manganese from pit to port, offers Assmang, the... 

Peabody posts Q2 profit; Australian mines drive revenue growth

By: Mariaan Webb     24th July 2018 NYSE-listed coal major Peabody Energy, which mines metallurgical and thermal coal in the US and Australia, on Tuesday reported a return to second-quarter profit, with net income attributable to common stockholders increasing to $113.7-million, or $0.90 a share, in the three months ended June.... 

BMI raises thermal coal price forecast to $100/t

By: Anine Kilian     24th July 2018 BMI has increased its thermal coal price forecast for this year to $100/t from $85/t previously as a result of tight supply from exporting countries and higher demand on the back of hot weather in importing countries.  The research company said in a statement on Tuesday that Newcastle coal prices... 

Coal market puzzled as China flashes conflicting output data

By: Bloomberg     23rd July 2018 Investors looking to China’s official production data to help divine where coal prices are heading might need to be extra cautious. Coal mining figures from the National Bureau of Statistics are flashing mixed signals. The agency pegs first-half output up 3.9% from a year ago. 

Transnet to operate inland manganese terminal

By: Marleny Arnoldi     10th July 2018 State-owned freight utility Transnet’s Port Terminals operating division has taken over operations at an inland terminal for the loading and handling of manganese at Lohatlha, in the Northern Cape.  

Coal rallies to six-year high as heatwave fires up China demand

By: Bloomberg     8th June 2018 The heat is on in the global coal market. Prices of Newcastle coal are at the highest level since 2012 after surging 24% since mid-April to $112.05 a metric ton on Thursday as China maintains robust demand during unseasonably hot weather. Despite measures imposed by the top user to cool soaring... 

Mantashe to conclude Mining Charter community consultation tour

By: Anine Kilian     30th May 2018 Mineral Resources Minister Gwede Mantashe will conclude the nationwide community consultations on the Mining Charter in Newcastle, KwaZulu-Natal, on Thursday. He has had ten consultations across the country to gather input from stakeholders on the charter before it is finalised in June. 

AMSA moves to sell stake in Macsteel International for R2.8bn

By: Terence Creamer     28th May 2018 Steel producer ArcelorMittal South Africa (AMSA) announced on Monday that it intended to sell its 50% indirect interest in steel trading and shipping business Macsteel International (MIHBV) to a subsidiary of Macsteel Holdings (MacHold) for $220-million, or around R2.8-billion. The proposed... 

Mantashe stresses importance of partnerships for mining sustainability

By: Simone Liedtke     18th April 2018 Mineral Resources Minister Gwede Mantashe on Wednesday stressed the importance of partnerships between mining companies and labour, as well as with communities, for mining to be sustainable. Speaking at the inaugural KwaZulu-Natal Mining Indaba, in Newcastle, he noted that such partnership would... 

Mantashe to open first KwaZulu-Natal Mining Summit

By: Anine Kilian     12th April 2018 The first KwaZulu-Natal Mining Summit will be held on April 18 and will officially be opened by Mineral Resources Minister Gwede Mantashe. The summit, which will be held at Blackrock Garden Court, in Newcastle, is aimed at ensuring a more rapid inclusion of black Africans and emerging... 

Australia sees miners winning highest Japan coal deal since 2012

By: Bloomberg     9th April 2018 Coal miners are set to win the highest supply contract in six years from Japanese utilities after demand drove spot prices higher, according to Australia’s commodity forecaster. Japan’s utilities will probably pay $100 a metric ton for annual supplies during the period from April to March, the... 

Aurizon puts new wagons on NSW coal lines

By: Esmarie Swanepoel     6th April 2018 Freight hauler Aurizon has reiterated its commitment to the Hunter Valley coal industry, announcing the arrival of a batch of newly-built coal wagons at the Port of Newcastle. Aurizon GM for New South Wales coal operations, Catherin Baxter, said on Friday that the 32 wagons in the consignment... 

Adani is said to delay Australia coal shipment, eyes deals

By: Bloomberg     29th March 2018 Indian conglomerate Adani Enterprises Ltd. will miss its original deadline to start shipping thermal coal from one of the world’s biggest planned mines due to funding difficulties, even as it eyes export deals with Asian companies. The billionaire Gautam Adani-backed company has abandoned a 2020... 

Australia pumps A$50m into drilling research

By: Esmarie Swanepoel     28th March 2018 The Australian federal government on Wednesday announced a A$50-million investment into research aimed at better equipping the mining and resources sector to manage future challenges. Resources and Northern Australia Minister Matt Canavan said the funding would come from the Cooperative... 

AMSA weighs asset disposals as losses mount, debt rises and rand strengthens 

By: Terence Creamer     31st January 2018 ArcelorMittal South Africa (AMSA) is considering various asset disposals as part of a plan to strengthen its balance sheet, which remains under pressure as a result of a protracted period of lossmaking, which has endured since 2010. The JSE-listed steelmaker declared another headline loss of... 

Brazil-focused Serabi to bolt-on Anfield’s Coringa gold project for $22m

By: Henry Lazenby     14th November 2017 Dual-listed mining and development company Serabi Gold is looking to double output with the acquisition of the Coringa gold project, located in the Tapajos gold province of Para state, in Brazil. The LSE Aim- and TSX-listed miner announced early on Tuesday morning that it will acquire the... 

Yancoal buys further stake in Warkworth coal mine for $230m

By: Esmarie Swanepoel     27th September 2017 ASX-listed Yancoal Australia has exercised a call option to purchase Mitsubishi Development’s 28.9% interest in the Warkworth coal joint venture (JV) for $230-million. The deal followed Yancoal’s $2.69-bilion acquisition of mining major Rio Tinto’s Coal & Allied subsidiary, which included a... 

Improved fundamentals prompt Moody’s to adjust higher several commodity price sensitivity ranges

By: Henry Lazenby     14th September 2017 Improved fundamentals amid global economic growth are expected to sustain a higher pricing environment for the global base metals industry, prompting credit ratings firm Moody’s Investors Service to adjust higher the price sensitivity ranges for copper, iron-ore, and metallurgical and thermal... 

Solidarity warns of ‘major impact’ should AMSA proceed with job cuts

By: Terence Creamer     16th August 2017 Trade union Solidarity has confirmed receipt of a Section 189A retrenchment notice from steel producer ArcelorMittal South Africa (AMSA) and has indicated that it will enter negotiations with the company to ensure alternatives to retrenchments are considered. On Tuesday, AMSA announced that it... 

Eskom tariffs in AMSA’s action plan crosshairs as losses spike  

By: Terence Creamer     27th July 2017 Steel producer ArcelorMittal South Africa (AMSA) will approach the National Energy Regulator of South Africa (Nersa) directly with a request for discounted electricity tariffs as part of a multi-pronged business sustainability action plan unveiled after the JSE-listed group slumped to a... 

China said to plan coal import ban at some ports starting July 1

By: Bloomberg     28th June 2017 China plans to ban coal imports starting July 1 at ports that were set up through approvals by provincial authorities, the latest move by President Xi Jinping’s government to exert stricter control on the market. Ports in the world’s largest consumer of the fuel that were approved under the... 

Glencore eyes 81Mt/y Hunter Valley coal play with surprise bid for Rio Tinto mines

By: Esmarie Swanepoel     12th June 2017 Diversified miner Glencore has made a surprise $2.5-billion bid for miner Rio Tinto’s 100% interest in its Coal & Allied subsidiary, rivaling a bid from ASX-listed Yancoal which launched a $2.45-billion offer in January. Glencore’s offer consisted of $2.05-billion in cash and $500-million in... 

Yancoal offers $710m for Mitsubishi’s stake in Hunter Valley mines

By: Esmarie Swanepoel     25th May 2017 ASX-listed Yancoal Australia has made a tag-along offer to acquire Mitsubishi Development’s 32.4% interest in the Hunter Valley operations for $710-million. The tag-along offer fulfilled Yancoal’s obligation to Mitsubishi under the sale and purchase agreement for Yancoal’s $2.45-billion buy of... 

AMSA insists 12% hot-rolled-coil safeguard won’t translate into abrupt price hike

By: Terence Creamer     15th May 2017 Steel producer ArcelorMittal South Africa (AMSA) insists that the institution of a 12% safeguard duty on hot-rolled coil (HRC) from July 1 will not result in a commensurate rise in domestic prices for the primary-steel product, owing to a pricing agreement with government that regulates the... 

Jenny Internet

28th April 2017 Business systems specialist Jenny Internet offers high-speed Internet connectivity to backup solutions, even in the remotest parts of South Africa. “We have remote technicians to support our network country wide,” highlights the company, adding that its wireless networks cover most of South... 

FIRB clears Yancoal/Rio deal

By: Esmarie Swanepoel     13th April 2017 The Australian Foreign Investment Review Board (FIRB) has approved ASX-listed Yancoal’s $2.45-billion acquisition of Rio Tinto subsidiary Coal & Allied. The two companies in January struck a deal that will allow for an initial $1.95-billion cash payment upon the completion of the transaction in... 

Analysts acclaim Glencore’s performance as good fundamentals return

By: Martin Creamer     23rd February 2017 Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and... 

Rio Tinto to sell Coal & Allied to Yancoal for up to $2.45bn

By: Natasha Odendaal     24th January 2017 Mining major Rio Tinto has agreed to sell its Coal & Allied subsidiary to Yancoal Australia for up to $2.45-billion. The binding agreement allows for an initial $1.95-billion cash payment upon the completion of the transaction in the second half of 2017, followed by $500-million in deferred cash... 

Rehabilitation work begins to prepare Highveld structural mill for restart

By: Terence Creamer     23rd January 2017 Rehabilitation work at Highveld Steel’s heavy structural mill, located at the mothballed steel plant’s expansive site in Mpumalanga, is under way to prepare the facility for recommissioning, following the conclusion of a supply and marketing deal with ArcelorMittal South Africa (AMSA) in... 

Coal’s recovery too good to resist for world’s biggest exporter

By: Bloomberg     13th January 2017 Indonesia will exceed its coal production target for another year as miners cash in after prices recovered from a five-year collapse. The world’s biggest exporter will produce about 489-million metric tons this year, 18% above the government-mandated target, according to energy ministry... 

Maules Creek mine, Australia

By: Sheila Barradas     25th November 2016 A coal mine, in the heart of the Gunnedah basin, in New South Wales, Australia. 

Buoyant coal prices prompt Moody’s to revise outlook to ‘stable’

By: Henry Lazenby     16th November 2016 Ratings firm Moody’s Investors Service has revised the outlook for the North American coal industry to ‘stable’ from ‘negative’, despite persistent challenges facing the sector, as coal producers receive much needed price relief. Although the industry continues to face challenges, coal producers... 

Met coal tops $300 first time since 2011 Australian floods

By: Bloomberg     8th November 2016 Spot metallurgical coal topped $300 a metric ton for the first time since flooding in Australia curbed output from the world’s biggest seaborne exporter five years ago. Hard coking coal rose to $307.20/t on Tuesday, extending a surge that has seen the price more almost quadruple since the start... 

Hentie Hoffman

By: Ilan Solomons     4th November 2016 This week we feature Hentie Hoffman, the COO of Mbuyelo, a R1-billion, 1 500-empoyee coal mining and marketing company 

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