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Coal News
Salungano performance impacted by late Vanggatfontein restart
By: Tasneem Bulbulia 9th December 2022 JSE-listed Salungano Group, formerly Wescoal, has reported lower-than-expected interim results for the six months ended September 30, owing to the Vanggatfontein restart starting later than anticipated and other operational challenges. The group’s revenue decreased from R2.67-billion to... →
Mpumalanga renewables study highlights importance of TVETs for value chains
By: Schalk Burger 9th December 2022 A co-benefits study undertaken by industrial research body the Council for Scientific and Industrial Research (CSIR) has shown that technical and vocational education and training (TVET) colleges can play a central role in supporting the transition of Mpumalanga's economy to renewable energy from... →
World’s rapid rate of change resulting in profound business disruptions, says Anglo CEO 
By: Martin Creamer 9th December 2022 The world changing at a rapid rate has resulted in profound disruptions to the business of Anglo American, CEO Duncan Wanblad told analysts and investors on Friday. Speaking during an update presentation covered by Mining Weekly, Wanblad said the London- and Johannesburg-listed diversified mining... →
Australian govt caps gas and coal prices
By: Esmarie Iannucci 9th December 2022 The federal government on Friday announced a temporary cap on both gas and coal prices as part of its Energy Price Relief Plan. Prime Minister Anthony Albanese said the urgent action being taken by the federal government, in partnership with state and territory governments, would shield... →
Organised business urges govt to fund Eskom diesel
By: Terence Creamer 9th December 2022 Organised business has called on government to fund adequate and reliable diesel supply for the country’s national peaking generators, which it describes as critical to ensuring that Eskom can best manage a stable grid and mitigate a further escalation in loadshedding levels. In a joint business... →
Extortion ‘mafia’ hits South Africa’s $55bn mining sector
By: Bloomberg 9th December 2022 A threatening letter, a derailed train, blocked roads, burned vehicles, workers locked up. That’s what some of the world’s biggest mining companies say they’re battling in South Africa: Extortion. Covid plunged Africa’s most-industrialized country – home to the biggest deposits of metals ranging... →
Thungela achieves strong cash generation despite rail constraints
By: Tasneem Bulbulia 8th December 2022 JSE-listed Thungela Resources has continued to deliver strong earnings and cash generation for the period from January 1 to November 30 and expects to achieve another strong set of financial results for the year ending December 31, the company notes in a CFO’s pre-close and trading statement for... →
Glencore in position to double copper output using fossil fuel cash flows
By: Martin Creamer 8th December 2022 Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to... →
Glencore working on value accretive emission reduction
By: Martin Creamer 8th December 2022 Over and above the carbon emission reduction that automatically results from declining coal assets, diversified mining and marketing company Glencore is working on reducing its Scope 1 and 2 emissions across its entire portfolio of assets in a manner that is largely value accretive or cost free.... →
Mongolian PM meets with protestors over millions in missing coal
By: Bloomberg 8th December 2022 Mongolia’s prime minister met with protesters in sub-zero temperatures to try and calm public anger about an estimated $120 million worth worth of missing coal. Prime Minister Oyun-Erdene Luvsannamsrai met with protesters Wednesday to ask the crowd to trust government to investigate and punish... →
UK approves first coal mine in 30 years, weakening climate push
By: Bloomberg 8th December 2022 The UK approved opening its first deep coal mine in more than 30 years, risking backlash from activists portraying the project as a backward step in meeting ambitious climate goals. The Woodhouse Colliery project in Whitehaven, northern England, can go ahead, the Department for Levelling Up,... →
VW says South Africa must end coal dependence for EVs to make sense
By: Reuters 8th December 2022 South Africa must wean itself off coal if locally produced electric vehicles (EVs) – a key element of the government's decarbonisation plan – are to be climate friendly, the country head of Volkswagen said on Wednesday. Wealthy nations have already committed $8.5-billion to help Africa's most... →
Timing of new jobs, skills development a just energy transition concern
By: Schalk Burger 8th December 2022 A just energy transition to a low-carbon economy in South Africa is expected to result in the loss of about 300 000 jobs, but the creation of about 815 000 new jobs up to 2050. It is also expected to improve the country's competitiveness and drive growth higher by about 2.3% a year, World Bank... →
Colombia to create national mining company, 2022 royalties soar
By: Reuters 8th December 2022 Colombia is preparing to launch a national mining company, the president of the government's National Mining Association (ANM) said on Wednesday, adding that coal mining royalties during the year had more than doubled. The government of President Gustavo Petro has pledged to reform the mining... →
Glencore halts Valeria development
By: Esmarie Iannucci 8th December 2022 Diversified miner Glencore has pulled the plug on the $1.5-billion Valeria coal mine, in Queensland, blaming the uncertainty in global markets and the Queensland government’s decision to hike coal royalties without any consultation with the sector. Glencore said in a statement that the company... →
Anglo invests $200m to accelerate zero emissions haulage solution
By: Martin Creamer 7th December 2022 Diversified mining company Anglo American has signed a binding agreement with First Mode, the specialist engineering technology company it partnered to develop the nuGenTM technology. The agreement is intended to accelerate the commercialisation of the climate-friendly truck and includes Anglo... →
Russian coal exports come roaring back after EU loosens curbs
By: Bloomberg 7th December 2022 Russia’s seaborne coal exports returned to near the highest levels on record after the European Union loosened restrictions on transporting the commodity, making it easier to redirect volumes to Asia. Shipments in October were almost 16.6-million tons -- just shy of the level in June, which was... →
Planned termination of Optimum Coal’s RBCT allocation puts 2 000 jobs at risk, say contractors
By: Darren Parker 7th December 2022 Six mini-pit contractors operating the Optimum Coal Mine (OCM), in Mpumalanga, are faced with having to potentially collectively retrench as many as 2 000 workers before Christmas, owing to the Richards Bay Coal Terminal (RBCT) having issued a notice on December 1 to terminate the Optimum coal... →
The Optimum Coal Mine
Edenville places shares to raise £400 000 to deal with capital constraints
By: Donna Slater 6th December 2022 Aim-listed energy company Edenville Energy has issued 5.71-million shares in an effort to raise £400 000 that it will use to provide additional working capital, to settle outstanding creditors and provide sufficient funds to meet any unexpected adverse judgement as a result of a legal claim. The... →
Contango signs MoU for possible offtake of coking coal from Lubu
By: Tasneem Bulbulia 5th December 2022 London-listed Contango Holdings has entered into a nonbinding memorandum of understanding (MoU) with a multinational company (MNC) with respect to its Muchesu coal project, the in-country name of the Lubu coal project, in Zimbabwe. This MoU outlines a framework for collaboration across coking... →
Transnet sees South African coal exports as being safer on diesel trains
By: Bloomberg 5th December 2022 South Africa’s State-owned port and rail company Transnet proposed switching to diesel trains to avoid disruptions to coal exports caused by the theft of power cables that disable electric locomotives. At least 1 500 km of cable was stolen in the current financial year, according to Transnet CEO... →
Thungela, Inyosi Coal share swap a ‘great’ empowerment deal – Balfour
By: Donna Slater 2nd December 2022 A successful R1-billion transaction on November 24, in which Anglo Coal’s black economic empowerment partner Inyosi Coal acquired shares in JSE-listed Thungela Resources, is being labelled a “great achievement” in terms of black economic empowerment, according to Inyosi chairperson Yoliswa... →
Transport Forum highlights need for multimodal logistics to remain competitive
By: Schalk Burger 2nd December 2022 Freight, logistics and transport industry experts have called for the restoration of South Africa's roads network, the restoration and development of the rail network and efficient ports and border posts, arguing that the country can only remain competitive if its logistics networks and supply... →
Renewables deal indicative of South Africans making positive difference, says Seriti Green
By: Martin Creamer 2nd December 2022 The big renewables deal undertaken by Seriti is indicative of just how passionate South Africans are to make a positive difference for the benefit of future generations, said new Seriti Green CEO Peter Venn of the multi-gigawatt deal that is poised to lighten South Africa’s loadshedding burden... →
More finance needed for Africa's energy transition opportunities
By: Reuters 1st December 2022 Africa's transition to cleaner fuels and power generation presents investors with opportunities across the value chain, but more direct financing is needed on projects, the head of a South African independent power producer, said on Thursday. Brian Dames, chief executive officer of African... →
Sasol shares sink after warning on Secunda challenges
By: Reuters 1st December 2022 Sasol shares fell nearly 7% after the South African petrochemicals company said it expects challenges at its Secunda operations to impact coal and fuel production, although higher crude oil prices are seen boosting half-year profit by more than 20%. Sasol shares were 6.74% lower at 1301 GMT. →
Exxaro expecting slight increase in production, sales for 2022
By: Darren Parker 1st December 2022 Diversified company Exxaro Resources expects its coal production – excluding buy-ins – to increase by 3% and its sales volumes by 1% for the 2022 financial year ending December 31, despite logistical constraints throughout the year and the disposal of the Exxaro Coal Central operations on... →
Exxaro believes Europe will continue demand for South African coal next year
By: Darren Parker 1st December 2022 Diversified company Exxaro Resources expects heightened European interest in South African thermal coal to continue well into next year as Europe continues to seek independence from Russian energy sources. Moreoever, South African thermal coal exports into markets for high-calorific coal, such as... →
IDC extends MC Mining’s R160m loan repayment term
By: Darren Parker 1st December 2022 State-owned financial institution the Industrial Development Corporation of South Africa (IDC) has extended the date for coal miner MC Mining’s repayment of a R160-million loan, plus interest, and the terminal drawdown date of an additional R245-million loan facility for the development of the... →
Black-owned coal company Seriti acquires multi-gigawatt renewable energy assets
By: Martin Creamer 1st December 2022 In a significant renewable energy step, Seriti Resources, a 91% black-owned and controlled coal mining company, has acquired 100% of Windlab South Africa through its climate-change mitigating subsidiary Seriti Green. The acquisition supports Seriti’s objective of lowering its carbon footprint and... →
Energy giants lose bid to win compensation for forced coal plant closures
By: Bloomberg 1st December 2022 Uniper and RWE lost a bid to get compensation from the Netherlands government over the forced early closing of their coal plants in the country. A Dutch court ruled Wednesday that the energy giants weren’t entitled to payouts after the country adopted a law in 2019 that ordered all coal plants to... →
Barclays coal plan exposes reach of Biden’s Inflation Reduction Act
By: Bloomberg 1st December 2022 The Inflation Reduction Act (IRA) is starting to change the way bankers view their climate targets. Barclays, one of Europe’s biggest coal financiers, said its analysis of the IRA has led it to commit to wind down its funding for coal in the US five years earlier than planned. CEO CS... →
US President Joe Biden
UK-listed Contango plans thermal coal exports from Zimbabwe in 2023
By: Reuters 1st December 2022 London-listed Contango Holdings plans to start exporting thermal coal early next year from its Zimbabwe mine following requests from customers in Europe and Asia, the company said on Wednesday. Zimbabwe's neighbour South Africa saw an eight-fold increase in coal exports to Europe during the first... →
More Eskom arrests as coal truck driver, supervisor apprehended at Matla station
By: News24Wire 30th November 2022 A truck driver and his supervisor were arrested for allegedly swapping out good-quality coal, and delivering sub-standard product to Eskom’s Matla power station on Monday. "The arrests took place after the truck driver was found to be in possession of sub-grade coal destined for the facility. The... →
New CEO for Buffalo Coal, Oosthuizen becomes CFO
By: Mariaan Webb 30th November 2022 South African coal company Buffalo Coal announced on Wednesday that Emma Oosthuizen had resigned as CEO of the company by triggering the termination clause of her employment contract. This follows the change of control of ownership of Buffalo Coal, with Belvedere Resources now the majority... →
Strong call for rapid green hydrogen investment by ramp-up backer
By: Martin Creamer 30th November 2022 A strong call for final investment decisions (FIDs) on a multiplicity of green hydrogen projects was made at the South Africa Green Hydrogen Summit in Cape Town yesterday by H2Global, a market ramp-up instrument that serves as an innovative form of subsidy scheme to smooth out bumps along green... →
Taking part in the South Africa Green Hydrogen Summit panel discussion are (from left to right) facilitator Lorato Tshenkeng, Timo Bollerhey, Till Mansmann, Sasol’s Gosiame Khoele, and Tobias Bischof-Niemz.
Sasol focusing on three green-hydrogen clusters in South Africa
By: Terence Creamer 29th November 2022 Sasol energy business VP Priscillah Mabelane reports that the JSE-listed group has identified three priority clusters for the roll-out of its green hydrogen strategy, while also supporting government with plans to develop Boegoebaai, in the Northern Cape, into a green hydrogen and derivatives... →
Sasol energy business VP Priscillah Mabelane
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