Wescoal buys stake in Pegasus project near Witbank

JSE-listed Wescoal has snapped up a 51% stake in the Pegasus project, which is considered to be the last high-grade coal deposit in the Witbank coalfields, it announced on Monday. Wescoal, led by CEO André Boje, offered to buy 51% in...

Wescoal to claim damages from Sutha, two individuals – Boje

Junior coal miner and trader Wescoal would pursue a damages claim against mining contractor Sutha Civils, its MD and an independent consultant, CEO Andre Bojé said on Wednesday. This comes as Sutha effectively abandoned its action against Wescoal...

Wescoal and mining contractor Sutha in heated dispute

A heated dispute has broken out between the JSE-listed coal junior Wescoal and its mining contractor, Sutha Civils, which has been instructed to leave Wescoal's Khanyisa colliery. After initially communicating openly with the media, it is...

Wescoal earnings up 137% with inclusion of Khanyisa Colliery

JSE-listed Wescoal more than doubled its interim headline earnings, boosted by the inclusion of mining profits from the Khanyisa Colliery. The junior coal-mining company on Thursday reported a 137% rise in headline earnings to 8,3c a share for...

Tanzania bans the export of raw tanzanite, Wescoal may treble coal reserves this year, Virgile Asia bids for Orkney, Grootvlei gold

Tanzania, the world's only source of tanzanite, has banned the export of raw tanzanite. Read on page 6 of this edition of Mining Weekly of Minerals and Energy Minister William Ngeleja introducing the immediate ban in the interests of local job...

Resources Watch

This week: Wescoal will conclude deals this year that may treble coal reserves; high grades at Big Daddy project could cut processing requirements; and Transnet eyes an 81-million ton coal line despite a poor 2010 performance.

Wescoal to conclude deals this year that may treble coal reserves

JSE-listed coal miner and trader Wescoal will conclude deals this year that will increase the company's coal reserves by between three-million tons and 13-million tons, Wescoal CEO Andre Bojé told Mining Weekly Online on Wednesday. Bojé said...

Wescoal expects full-year earnings to drop

Junior-miner Wescoal expects to report earnings of between 4,6c a share and 5,4c a share and headline earnings of between 4c a share and 4,6c a share when it publishes its results for the 2010 financial year next week. The coal miner, which moved...

Wescoal walks away from SACMH takeover

JSE-listed coal-miner Wescoal’s share price fell by 3,4% on Tuesday afternoon, as it announced that it would no longer pursue its takeover of South African Coal Mining Holdings (SACMH). The coal-miner had made a R45-million all-share takeover...

Daily podcast – October 22, 2009

A designated adviser to listed Wescoal is found guilty of insider trading; and workers at Chile's Spence copper mine plan to resume wage talks with owner BHP Billiton to solve a nine-day strike.

SA competition body approves Wescoal’s Khanyisa acquisition

The Competition Commission has unconditionally approved coal junior Wescoal’s R36,5-million acquisition of the Khanyisa mine, in South Africa’s Mpumalanga province, the coal-miner reported on Thursday. The JSE-listed company announced in June...

Inland coal price nearing export-parity levels - Wescoal

AltX-quoted coal producer and trader Wescoal on Wednesday said that South Africa's inland price of coal was nearing export-parity levels, and was expected to reach them in the next financial year.