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Coal News

Resgen extends sunset date for Boikarabelo funding agreement

By: Tasneem Bulbulia     3rd July 2020 Dual-listed Resource Generation (Resgen) has recorded changes to the common terms agreement for its mine funding package, in noted in its market update. On December 5, 2019, the company announced that, along with its majority owned subsidiary, Ledjadja Coal, it had executed principal binding... 

IDC appoints Gert Gouws acting CFO

By: Donna Slater     3rd July 2020 The Industrial Development Corporation (IDC) has appointed Gert Gouws as its acting CFO for a period of three months while the process of appointing the permanent incumbent is being finalised. The IDC notes that the recruitment process is progressing well and is expected to be concluded soon.  

IDC appoints Gert Gouws acting CFO
Photo by Creamer Media
IDC acting CFO Gert Gouws

Nersa’s Gumede calls for overhaul of ‘outdated’ electricity tariff methodology 

By: Terence Creamer     2nd July 2020 National Energy Regulator of South Africa (Nersa) fulltime member for electricity Nhlanhla Gumede has called for the regulatory methodology used to set electricity tariffs in South Africa to be overhauled, arguing that the multiyear price determination (MYPD) approach is not aligned with the... 

Nersa’s Gumede calls for overhaul of ‘outdated’ electricity tariff methodology
Nersa fulltime member for electricity Nhlanhla Gumede

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Nersa to provide concurrence on technology-specific determination this month 

By: Terence Creamer     2nd July 2020 The National Energy Regulator of South Africa indicated on Thursday that it intended providing concurrence this month for a Ministerial determination that would open the way for the procurement of new electricity generation capacity in line with allocations contained in the 2019 edition of the... 

Nersa to provide concurrence on technology-specific determination this month

Commodity freighters are shrugging off Covid-19. For now

By: Bloomberg     1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... 

Resgen granted trading halt as it prepares announcement

By: Donna Slater     1st July 2020 Coal miner Resource Generation (Resgen) has requested, and has been granted, a halt in the trading of its securities on the ASX and the JSE, pending the release of an announcement. Resgen currently has all permitting and licensing rights to develop a large surface coal resource at Boikarabelo... 

Arnot OpCo concludes Section 189 process affecting 1 100 employees

By: Martin Creamer     1st July 2020 Coal mining company Arnot OpCo has completed a Section 189 process, affecting 1 100 of its employees. Exxaro Resources in February entered into a transfer-of-business agreement with Arnot OpCo, transferring all its assets and liabilities to Arnot OpCo as a going concern. 

Arnot OpCo concludes Section 189 process affecting 1 100 employees
Arnot OpCo CEO Bontle Aphane

Prairie armed for legal battle

By: Esmarie Iannucci     1st July 2020 Coal developer Prairie Mining has secured A$18-million in litigation funding with LCM Funding UK to pursue damages claims in a dispute with the Polish government. Prairie in February last year served a notice of dispute on the Polish government, requesting that the government formally engage... 

BMA expands autonomous hauling fleet in Queensland

By: Esmarie Iannucci     1st July 2020 Major BHP and its coal alliance partner Mitsubishi (BMA) have announced a A$100-million investment into 34 new autonomous trucks at the Daunia mine, in Central Queensland. BMA asset president James Palmer said this is a multi-generational investment in the industry and state at a time when it is... 

BMA expands autonomous hauling fleet in Queensland

Platinum group metals in pole position to benefit from global decarbonisation thrust  

By: Martin Creamer     1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... 

Platinum group metals in pole position to benefit from global decarbonisation thrust
AP Ventures founding partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

House Democrats urge ‘racial justice’ on climate, carbon cut

By: Bloomberg     30th June 2020 House Democrats unveiled an ambitious plan to combat climate change that won plaudits from mainstream environmentalists, but disappointed some progressives who have tried to push the party to the left on the issue. The more than 500-page report sets a target for the US to cut 88% of... 

House Democrats urge ‘racial justice’ on climate, carbon cut
The Asheville power plant in North Carolina.

Economic opportunity of South Africa’s energy transition akin to new ‘gold rush’

By: Terence Creamer     30th June 2020 South Africa’s energy transition from coal to cleaner energy carries an economic opportunity equivalent to the discovery of gold in the country more than a century ago, a new South African National Energy Association (Sanea) report argues. Published on June 30, the ‘South African Energy Risk... 

Economic opportunity of South Africa’s energy transition akin to new ‘gold rush’

Tariff implications not yet clear as Nersa loses another court battle with Eskom 

By: Terence Creamer     30th June 2020 Power utility Eskom has welcomed the June 29 ruling of the North Gauteng High Court to review and set aside three regulatory clearing account determinations made by the National Energy Regulator of South Africa for the financial years 2014/15, 2015/16 and 2016/17. In his judgment, Judge Jody... 

Tariff implications not yet clear as Nersa loses another court battle with Eskom
Photo by Creamer Media's Donna Slater
The Nersa panel at the MYPD4 hearing in 2019

ArcelorMittal SA seeks IPP bids for roll-out of solar PV plants across operations 

By: Terence Creamer     30th June 2020 JSE-listed steel producer ArcelorMittal South Africa (AMSA) has become the latest South African company to release a request for information (RFI) to independent power producers (IPPs) to build, own and operate solar photovoltaic (PV) power plants across its six operational sites. The group has... 

ArcelorMittal SA seeks IPP bids for roll-out of solar PV plants across operations

South African court sides with Eskom in clawback dispute

By: Reuters     30th June 2020 South Africa’s High Court on Monday sided with Eskom in a dispute over the amounts energy regulator Nersa allowed the state utility to claw back from customers for electricity supplied in the 2014/15, 2015/16 and 2016/17 financial years. Nersa’s 2018 decisions to allow Eskom to recoup... 

Pleasantly surprised by productivity during lockdown – Babcock Ntuthuko Engineering  

By: Martin Creamer     30th June 2020 Engineering company Babcock Ntuthuko Engineering has been pleasantly surprised by the productivity and agility that the lockdown has afforded it as an engineering house engaged in the energy sector. Babcock Ntuthuko Engineering’s major industrial clients include State electricity utility Eskom... 

Pleasantly surprised by productivity during lockdown – Babcock Ntuthuko Engineering
Babcock Ntuthuko Engineering CEO Thava Govender interviewed by Engineering News & Mining Weekly’s Martin Creamer. Video: Darlene Creamer

Eskom widens its funding search to sukuk market

By: Bloomberg     29th June 2020 South Africa’s indebted power utility Eskom Holdings plans to issue a R1-billion sukuk bond as it tries to diversify funding sources to reduce borrowing costs. Eskom has appointed a lead arranger “to work towards establishing time lines for the issue,” spokesperson Sikonathi Mantshantsha said in... 

Weekly Coal Index Report

29th June 2020 Physical RB1 had another tough week, with at least one cargo going through at around $48/mt. Although Chinese utilities are restocking, they are having to use domestic coal as they lack import quotas from government. This is a trend that the Chinese government wants to see strengthening as it has... 

Weekly Coal Index Report

Moreton administrators hunting for buyer

By: Esmarie Iannucci     26th June 2020 The Administrators of ASX-listed Moreton Resources are seeking expressions of interest for both the company and its assets. Moreton entered into voluntary administration in early June, tasking administrators to undertake an urgent assessment of the groups business and financial position to... 

Victoria unveils rehab plans for brown coal mines

By: Esmarie Iannucci     26th June 2020 The Victorian government has launched a Mine Land Rehabilitation Authority and the Latrobe Valley Regional Rehabilitation Strategy (LVRRS) to steer the rehabilitation of the Latrobe Valley’s brown coal mines. Minister for Resources Jaclyn Symes said the new body would ensure locals continued to... 

Victoria unveils rehab plans for brown coal mines

Eskom’s new just energy transition office assessing green finance options for repurposing of old coal stations

By: Terence Creamer     25th June 2020 Eskom CEO Andre de Ruyter reports that the State-owned utility’s newly created just energy transition (JET) project office is evaluating green financing options that could help accelerate the deployment of renewables and facilitate the repurposing of its older coal plants in ways that improves... 

Eskom’s new just energy transition office assessing green finance options for repurposing of old coal stations
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

A buyer’s guide to Sasol’s $5bn asset sale process

By: Bloomberg     25th June 2020 Sasol has accelerated an asset disposal program that could eliminate more than half of the company’s debt. The South African company is trying to raise cash amid cost overruns and lower oil prices. The process could be done in a year and take in as much as $5 billion, which would help prevent a... 

Lesotho opens more border posts for return of foreign mineworkers 

By: Martin Creamer     25th June 2020 Lesotho has opened up more border posts to speed up  the return to work of locked-down foreign mineworkers. As reported  by Mining Weekly last week, 12 000 mineworkers had one border post at their disposal on re-entering South Africa from Lesotho and the opening of more border posts was requested. 

Lesotho opens more border posts for return of foreign mineworkers
Minerals Council South Africa environment, health and legacies senior executive Nikisi Lesufi.

Kibo secures £1m funding facility

By: Tasneem Bulbulia     25th June 2020 JSE-listed Kibo Energy has signed a binding term sheet with an investment consortium consisting of several high net worth entities and individuals, including two of the company’s largest shareholders, for up to £1-million. The £1-million will be used to continue development of diverse energy... 

Exxaro expecting higher coal export volumes, lower domestic sales

By: Simone Liedtke     25th June 2020 Diversified miner Exxaro Resources expects a mixed picture for demand for its coal products as the Covid-19 pandemic continues to take its toll on the global economy. In a interim pre-close update by FD Riaan Koppeschaar on June 25, the group pointed out that it had, to date, recorded eight... 

Exxaro expecting higher coal export volumes, lower domestic sales

US coal mine Greenbrier causes impairment for Coronado

By: Esmarie Iannucci     24th June 2020 ASX-listed Coronado Global Resources has warned of a $60-million to $70-million impairment on its Greenbrier coal mine, in the US. Coronado restarted the majority of it its US operations at the start of June this year, after they were idled in April and May in the wake of the Covid-19 outbreak.  

Next renewables bidding round to be launched only in second quarter of 2021   

By: Terence Creamer     23rd June 2020 The new head of South Africa’s Independent Power Producers Office (IPPO), Tshifhiwa Bernard Magoro, reported on Tuesday that the next bidding round for the procurement of utility scale renewable-energy projects, often referred to as Bid Window 5, would be launched only in the second quarter of... 

Next renewables bidding round to be launched only in second quarter of 2021
Photo by Creamer Media's Donna Slater
Tshifhiwa Bernard Magoro

Europe targets US coal in election-year trade staredown

By: Bloomberg     23rd June 2020 Transatlantic relations could reach a new low next month as the European Union readies tariffs on billions of dollars of American exports aimed at politically important industries for President Donald Trump and his Republican allies in Congress. The EU has asked the World Trade Organization to... 

Europe targets US coal in election-year trade staredown

Approval forthcoming for Boikarabelo rail project funding, says Resgen

By: Simone Liedtke     22nd June 2020 ASX-listed Resource Generation (Resgen) is finalising the funding approval for the Boikarabelo coal project rail link. The company is busy securing the investment committee and board approval for the nonbinding equity and debt term sheets between its subsidiary Ledjadja Coal and Pan African... 

Buffalo Coal to host virtual AGM

By: Marleny Arnoldi     22nd June 2020 JSE- and TSX-V-listed Buffalo Coal will host its annual general meeting on July 16 by teleconference. Buffalo, led by CEO Emma Oosthuizen, holds a majority interest in two coal mines in Dundee, KwaZulu-Natal – Magdalena and Aviemore.  

Weekly Coal Index Report

22nd June 2020 A slightly weaker Rand helped offset weaker physical and financial coal markets. The rest of the energy complex strengthened slightly, with carbon enjoying a nice rally, which favoured natgas prices. However, physical coal markets also held their own as uncertainties around Chinese imports vs.... 

Weekly Coal Index Report

Glencore says will cooperate with investigation by Swiss

By: Martin Creamer     20th June 2020 Diversified mining company Glencore stated at the weekend that it would cooperate with an investigation opened into it by the office of the attorney general of Switzerland. Glencore stated in a release to Mining Weekly that it had been informed by the office of the attorney general that it had... 

Glencore says will cooperate with investigation by Swiss
Photo by Bloomberg
Glencore head office.

Ncondezi marks progress at Mozambique project

By: Tasneem Bulbulia     19th June 2020 Aim-listed Ncondezi Energy has recorded key developments at its integrated 300 MW coal-fired power project and coal mine in Tete, Mozambique, following the formal submission of an updated power tariff on March 31. Following meetings with Electricidade de Moçambique (EDM), additional work... 

Qld waiting for legal fray to clear at New Acland

By: Esmarie Iannucci     19th June 2020 Coal miner New Hope has lamented the Queensland government’s decision to delay approval of the New Acland Stage 3 expansion until legal action has been concluded. New Hope met with the state government to present a roadmap to final approvals for the Stage 3 project, after the High Court of... 

Urgent dewatering solutions needed during lockdown

19th June 2020 Pumps solutions supplier Integrated Pump Rental has continued as a secondary emergency supplier throughout the lockdown, including helping to dewater a coal mine in northern KwaZulu-Natal. The failure of one of the mine’s pumps under lockdown restrictions, which prevented pump repairs was... 

Polish coal producer defends miners facing public ire over the coronavirus

By: Reuters     18th June 2020 Poland's JSW, the European Union's biggest coking coal producer, has launched a campaign to defend miners who it says have faced public abuse and unfair blame on social media over a rise in coronavirus infections. Infections among miners have been disproportionately high, according to Health... 

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