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Wescoal seeks to join Ata Resources consortium for proposed Universal Coal buyout

By: Marleny Arnoldi     26th October 2018 JSE-listed Wescoal on Friday reported that it was in advanced negotiations with Ata Resources to join the consortium of investors that has submitted an indicative offer to acquire the entire issued share capital of ASX-listed Universal Coal, for A$0.35 a share. Wescoal previously signed a... 

Minergy lauds Botswana regulatory authorities

By: Martin Creamer     20th September 2018 Minergy CEO Andre Bojé is full of praise for Botswana’s regulatory authorities, who he says use legislation to assist mining investment. Minergy, which is listed on the Botswana Stock Exchange, has begun work on its maiden 390-million-tonne Masama, located in the Mmamabula coalfield, 50 km north... 

Sitatunga Resources branches out into manganese

By: Marleny Arnoldi     18th September 2018 Exploration and mining project development company Sitatunga Resources has bought the East Manganese project, in Hozatel, Northern Cape, from Southern Ambition, marking the first step in the company’s strategy to build a manganese portfolio in the province. The deal, which was signed on August... 

New Botswana coal mine development under way – Minergy

By: Martin Creamer     18th September 2018 Work is under way on the new Masama coal mine, which Botswana Stock Exchange-listed Minergy expects to commission in January, ahead of its primary listing on London’s Alternative Investment Market (Aim) in the first half of next year. The 390-million-tonne Masama, located in the Mmamabula... 

Wescoal to repurchase R20m of shares

By: Creamer Media Reporter      29th August 2018 Coal miner Wescoal will repurchase up to R20-million worth of its own shares. The company on Wednesday said the share repurchase was being undertaken in terms of the general approval granted by shareholders at the company's annual general meeting in November 2017. 

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... 

Wescoal sells Intibane collieries

By: Simone Liedtke     28th June 2018 Coal miner Wescoal has entered into sale agreements with Tokata Resources and Banjosign to dispose of its Intibane 1 and Intibane 2 collieries, in Mpumalanga. The disposal will become effective on or about July 1. 

Wescoal expects up to 320% increase in FY18 headline earnings a share

By: Marleny Arnoldi     22nd June 2018 Coal miner Wescoal expects to report headline earnings a share of between 45.5c and 47.5c for the financial year ended March 31, which is an increase of between 303% and 320% on the 11.3c reported for the prior financial year  

Wescoal expects 303% increase in FY18 HEPS

By: Marleny Arnoldi     22nd May 2018 JSE-listed Wescoal expects its headline earnings per share (HEPS) for the year ended March 31 to be in excess of 45.5c, which is a 303% increase on the HEPS of 11.3c reported for the 2017 financial year.  

Wescoal’s primary objective to optimise operations, extract organic growth

By: Nadine James     28th March 2018 JSE-listed Wescoal is seeking to extract organic growth by optimising its existing operations and diversifying its revenue base, says Wescoal CFO Izak van der Walt. During a media site visit to the miner’s Elandspruit operation, on Tuesday, he noted that the acquisition of Keaton Energy, in 2017,... 

Wescoal confident about coal market as it posts 42% boost in H1 profit

By: Megan van Wyngaardt     21st November 2017 A consistently strong operational performance from JSE-listed Wescoal’s projects has resulted in the miner posting a gross profit of R267-million for the six months ended September 30, a 42% increase from the prior year’s R188-million. It also maintained its gross profit margin at 17%. 

Wescoal expecting earnings drop for H1

By: Megan van Wyngaardt     17th November 2017 JSE-listed Wescoal expects to report a 29% year-on-year drop in headline earnings a share to around 20.5c apiece, when it reports its results for the six months ended September 30. Alongside this, the miner’s earnings a share were expected to fall by between 16.7% and 20.3% year-on-year to 23c... 

Wescoal appoints new CFO

By: Creamer Media Reporter      7th August 2017 JSE-listed Wescoal has appointed Izak Van der Walt CFO and executive director effective September 1. He succeeds Bothwell Mazarura, who will step down as CFO and executive director on August 31, to pursue a role as FD at Kumba Iron Ore. 

Wescoal’s Mazarura appointed Kumba CFO

By: Natasha Odendaal     6th July 2017 Wescoal CFO and executive director Bothwell Mazarura has resigned to join Kumba Iron Ore as CFO and executive director, effective September 1. Mazarura, who has worked at Wescoal since July 2016, holds a Bachelor of Accounting Science Degree from the University of South Africa and is an... 

Resources Watch 

6th July 2017 This week: Black junior Wescoal set to soar The Revolutionary Mining Charter is irrational and divisive And, Illegal mining a substantial burden on South African economy, warns Sibanye 

Black junior Wescoal set to soar 

By: Martin Creamer     28th June 2017 Stripping out Wescoal’s once-off nonrecurring costs paints a pretty picture of the performance of this black-controlled coal-mining and coal-marketing junior, which has declared a dividend payout of R22-million compared with R10-million last year The once-off costs of R90-million arose from the... 

Wescoal, Keaton merger gets Competition Commission go-ahead

By: Megan van Wyngaardt     7th June 2017 Wescoal has taken one step closer to closing its proposed R526-million buyout of Keaton Energy, following unconditional approval by the Competition Commission. The acquisition, announced in February, will be settled through R351-million in cash and the balance through the issue of 87.80-million... 

Keaton, Wescoal shareholders approve acquisition

By: Anine Kilian     2nd June 2017 The shareholders of both Wescoal and Keaton Energy have approved Wescoal’s proposed R525-million buyout of Keaton Energy. The acquisition, announced in February, will be settled through R350.39-million in cash and the balance through the issue of 87.6-million Wescoal ordinary shares. 

Wescoal’s Khanyisa Complex produces first coal

By: Megan van Wyngaardt     24th May 2017 JSE-listed Wescoal has received regulatory approval from the Department of Mineral Resources to start producing at its expanded Khanyisa colliery, in Mpumalanga. The company on Wednesday said mining activities have started in the Khanyisa Catwalk, as well as the adjacent Khanyisa Triangle areas... 

Wescoal, Keaton revise acquisition price

By: Megan van Wyngaardt     4th May 2017 JSE-listed junior miner Keaton Energy’s shares rose by 6.2% on Thursday, after it and Wescoal announced in a joint statement that the purchase price for Wescoal’s takeover of Keaton had been adjusted. Subsequent to the signing of a firm intention offer letter in February, Keaton had issued a... 

New dry beneficiation tech has multiple benefits

By: Marleny Arnoldi     17th March 2017 The Coaltech Research Association plans to further evaluate a new, dry dense medium separation (DMS) process later this year at a pilot plant at a coal mine in Witbank. Since mid-2015, Coaltech has been investigating the new process that was commercialised by electricity and coking company... 

Surface miner proves its mettle in S Africa trials

By: Marleny Arnoldi     17th March 2017 Mining and construction services provider Wirtgen South Africa has successfully finalised trials of its 2200 SM surface miner at three coal mines, in Mpumalanga, where the capabilities of the machine were tested under local mining conditions, proving that it is a viable alternative to opencast... 

Minergy to list coal project in Botswana, also eyeing JSE

By: Martin Creamer     20th February 2017 Coal and energy company Minergy said on Monday that it will list on the Botswana Stock Exchange in the first half of this year and is also planning a Johannesburg Stock Exchange listing in 2017’s latter half. In the initial capital raising ahead of the listing of its Masama coal project, Minergy,... 

Wescoal pursues Keaton in R525m acquisition

By: Natasha Odendaal     3rd February 2017 Fresh from concluding its R178-million black economic empowerment (BEE) transformation deal, coal mining and trading company Wescoal has made a formal bid for junior coal miner Keaton Energy, securing significant resources for future development. Wescoal, setting its sights on being a key player... 

Wescoal lifts black ownership to 59% in ‘transformational milestone’

By: Anine Kilian     29th September 2016 JSE-listed Wescoal has entered into a subscription agreement that will raise its black ownership to about 59%. The company’s long-term coal supply agreement with State-owned Eskom requires it to increase its black economic empowerment (BEE) ownership to more than 51% by end December 2016. 

Wescoal enters R211m deal to lift black ownership to 59%

29th September 2016 JSE-listed Wescoal has entered into a subscription agreement that will raise its black ownership to about 59%. A black economic empowerment (BEE) special purpose vehicle (SPV), whose shareholders comprise a consortium of existing Wescoal shareholders – Muthanyi Robinson Ramaite, Simeka Capital... 

Wescoal secures long-term coal export business

By: Martin Creamer     28th September 2016 Coal mining and marketing company Wescoal has finalised a series of coal contracts in line with its stated intention of supplying a million tonnes of coal a year into the export market. The coal purchase confirmations, which involve the supply of more than five-million tonnes of coal from... 

Wescoal’s shares rise on signing of long-term Elandspruit supply agreement

By: Creamer Media Reporter      17th August 2016 JSE-listed Wescoal’s shares rose 17% on Wednesday after the company announced that it had signed a long-term coal supply agreement (CSA) with Eskom for the Elandspruit colliery. “This brings to fruition a major project for the Wescoal team. This long-term position significantly de-risks future... 

Aus company involved with work at top South African projects

By: Victor Moolman     5th August 2016 Australian consulting company QCC Resources and process solutions company Mineral Technologies have discussed with Waterberg Coal Company (WCC), the lead partner of the Waterberg coal project, supplying the proposed mine’s coal handling and processing plant (CHPP). 

Wescoal ‘comfortable’ with coal price from Eskom 

By: Martin Creamer     12th July 2016 Coal mining and trading company Wescoal, which sells 80% of its coal to Eskom, is comfortable with the price it receives from South Africa’s State-owned electricity utility. “We think it’s a fair price, both to Wescoal and to Eskom. I understand Eskom’s challenges around managing costs and the... 

Wescoal achieves ‘best ever’ financial results

By: Natasha Odendaal     2nd June 2016 South African coal mining and trading company Wescoal has posted its “best financial results ever” as it reins in costs, ramps up operations and sets a stable foundation for sustainable growth. The JSE-listed firm on Thursday posted a 76.1% surge in headline earnings a share to 27.1c apiece for... 

Wescoal appoints new CFO

4th May 2016 Coal mining and trading company Wescoal has appointed Bothwell Mazarura as group FD and CFO, effective July 1. He would succeed former CFO Morne du Plessis, who resigned in September last year. 

Wescoal year-end earnings expected to rise

By: Natasha Odendaal     22nd March 2016 South African coal-mining and coal-trading company Wescoal expects double-digit earnings increases for the year ended March 31. The company announced on Tuesday that its expected headline earnings a share for the period under review would be around 50% more than 15.4c apiece achieved the year... 

Wescoal settles on R65m capital raise

By: Martin Creamer     10th November 2015 South African coal-mining and coal-trading company Wescoal, which last month announced its intention to raise R81-million equity capital to further develop its flagship Elandspruit colliery as well as fund other growth options, has seemingly settled on a maximum of R65-million by way of a... 

Resources Watch 

By: Creamer Media Reporter      21st October 2015 This week: Wescoal sets out to be key player in coal consolidation AMCU calls on gold miners to return to the negotiating table Phosphate project to get under way 

Trading boosts Wescoal as production lifts late

By: Martin Creamer     21st October 2015 The trading division of Wescoal has proved a boon for the junior coal mining company by delivering a strong first half performance in difficult business circumstances of production coming into line late. “It's again helped us out of a tight spot,” acting CEO Waheed Sulaiman conceded in an... 

Absence of long-term Eskom contracts to drive 70% slip in Wescoal H1 earnings

By: Natalie Greve     16th October 2015 Coal producer Wescoal is readying for an up to 70% decrease in earnings a share for the six months ended September 30 to 4.56c and 5.62c, blaming the weaker half-year performance on the erosion of the global mining industry over the past 12 months and global thermal coal prices, which are at... 

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