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In shadow of Opec's noisy oil cuts, Asia's miners quietly tightened coal supplies

By: Reuters     22nd November 2017 Australian and Indonesian miners have quietly done in the last two years what Opec has been shouting about: tighten coal markets and prop up prices. The informal coal output reductions, unlike the official cuts in place since January led by the Organization of the Petroleum Exporting Countries... 

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... 

Indian petcoke ban to boost coal imports amid already tight market

By: Reuters     1st November 2017 A ban on petroleum coke around the Indian capital of New Delhi starting from Wednesday will require the country to raise its imports of coal to replace the fuel, just as Asia is heading into the tightest market conditions for coal in years. India's annual demand for petroleum coke, an energy... 

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 

Third-quarter Glencore coal production down on Optimum disposal

By: Martin Creamer     3rd November 2016 Third-quarter production of diversified major Glencore reflects the various operational suspensions and supply reductions announced and actioned notably in coal, oil, copper and zinc. The London-, Hong Kong- and Johannesburg-listed mining and marketing company, headed by CEO Ivan Glasenberg, said... 

Glencore secures 48% hike in thermal coal price

By: Reuters     25th October 2016 Glencore and Japanese power utilities have settled quarterly thermal coal contract prices at $94.75/t, up from around $64 last quarter, sources confirmed on Tuesday, reflecting a surge in spot prices. The Japanese buyers agreed to pay the higher price to secure supplies of high-quality thermal... 

Hunter Valley benefits from Bloomfield mine

By: Esmarie Swanepoel     14th October 2016 Hunter Valley-focused Bloomfield Group has employed nearly 100 additional staff at its recently acquired Rix’s Creek North operation, as activities at the mine pick up. The Bloomfield Group in August last year acquired the Camberwell opencut mine from the Australian arm of major Vale, as part of... 

New lease on life for DCD Heavy Engineering as Venco settles in Vereeniging

     10th October 2016 The incorporation of DCD Venco into DCD Heavy Engineering in Vereeniging is consolidating the capacity of two iconic South African manufacturing operations into an optimised business well placed for growth, according to DCD Heavy Engineering general manager Dawie Marais. “Moving DCD Venco from... 

Hitachi Construction offers A$689m for Australia’s Bradken

By: Bloomberg     3rd October 2016 Hitachi Construction Machinery, the world’s biggest maker of giant excavators, made a A$689-million offer to acquire Bradken, an Australian supplier of mining equipment. The company will offer A$3.25 per share to buy the Newcastle, New South Wales-based company, the Japanese manufacturer said in... 

AMSA insists R2.27bn empowerment deal meets highest governance standards

By: Terence Creamer     28th September 2016 Steel producer ArcelorMittal South Africa (AMSA) has unwrapped its long-awaited R2.27-billion broad-based black economic empowerment (BBBEE) transaction, which chairperson Mpho Makwana insists meets the highest standards of probity and governance. An earlier 2010 attempt by the JSE-listed company... 

New Hope widens loss in FY16

By: Esmarie Swanepoel     20th September 2016 Coal miner New Hope Group has deepened its net loss after tax for the 2016 financial year from A$21.8-million in 2015, to A$53.7-million. The miner reported on Tuesday that earnings before interest, tax, depreciation and amortisation (Ebitda) decreased by 38.8% to A$81.3-million in the... 

South African coal industry needs to pursue mechanisation

By: Nadine James     16th September 2016 South African coal industry stakeholders need to pursue mechanisation if the industry is serious about streamlining operations and improving efficiencies, stresses international market research company BMI Research.  BMI commodities analyst Mitchell Hugers states that the benefits of... 

DCD, Southwest give muscle to Gravico venture

     5th September 2016 Three years of successful collaboration on Gravico mining aftermarket products has led the partners – the Vereeniging-based DCD Group and Netherlands-based Southwest Group – to consolidate the venture into a stand-alone business incorporating assets from both stakeholders. Boasting a substantial... 

After years of pain, coal becomes one of the hottest commodities of 2016 

By: Reuters     18th August 2016 Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities. Cargo prices for Australian thermal coal from its Newcastle terminal, seen as the Asian... 

Coal major expects production increases despite Inyanda closure

     29th July 2016 Thermal coal production from commercial mines owned by mining company Exxaro is expected to increase by 12%, mainly owing to the inclusion of coal producer Exxaro Coal Central (ECC) and higher production at the Grootegeluk coal mine, in Limpopo, and the North Block Complex coal mine, in... 

Anglo American coal bidders said in talks for acquisition loans

By: Bloomberg     22nd July 2016 Bidders for Anglo American’s Australian metallurgical coal assets, including Coronado Coal and AMCI Capital, are in talks with banks for acquisition financing, people with knowledge of the matter said. Coronado and AMCI are competing for Anglo American’s Moranbah and Grosvenor mines with BHP... 

Whitehaven boosts coal production 35%

By: Mariaan Webb     15th July 2016 Gunnedah basin coal miner Whitehaven Coal produced 19.7-million tonnes of coal in the 2016 financial year, ended June 30, which is a 35% increase on the previous corresponding period. Whitehaven, which owns four opencut mines and one large underground mine in New South Wales, delivered in its... 

Unloved coal seen surging as China cuts collide with La Nina

By: Bloomberg     12th July 2016 Thermal coal prices in Asia may jump as much as 50% if rainfall caused by La Nina is heavier than expected, further tightening the market as China cuts production, according to Citigroup. Prices at the Australian port of Newcastle, an Asian benchmark, may increase to $90 a metric ton if La Nina... 

BMI lifts thermal coal price outlook; says nickel has bottomed

By: Henry Lazenby     29th June 2016 Fitch group research firm BMI has raised its thermal coal price forecasts on the back of a more aggressive contraction in global mine output than initially expected, mainly in China. The firm now forecast Newcastle coal to average $53/t in 2016, up from $51/t, and $57/t in 2017, up from a... 

Coal price forecast to rise on production fall

By: Martin Creamer     28th June 2016 A greater-than-expected decline in global mine production, predominately in China, has prompted Fitch group company BMI Research to forecast higher coal prices. The research group now calculates that Newcastle coal will average $53/t this year, up on its previous forecast of $51/t. 

Waterberg rail supply disappoints Exxaro

By: Martin Creamer     28th June 2016 Rail supply in the Waterberg region since the beginning of the year has been disappointing, Exxaro Resources said on Tuesday. The JSE-listed company reported receiving only 3.5 trains a week from Transnet Freight Rail instead of the required five, a situation likely to persist until the... 

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