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Coal News

A$1bn Olive Downs a step closer to development

By: Esmarie Iannucci     14th May 2020 The A$1-billion Olive Downs metallurgical coal mine being developed by Pembroke Resources in Queensland, has received approvals from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (EPBC) Act. Pembroke said on Thursday that... 

Lender says Murray Energy violated deal in ‘brazen’ loan default

By: , Bloomberg     14th May 2020 Murray Energy allegedly violated a bankruptcy financing agreement after manipulating financial information, according to court papers filed by one of its lenders. GACP Finance, owed some $90-million under a loan tied up in Murray Energy’s bankruptcy financing package, delivered a notice of... 

World's largest wealth fund blacklists Glencore, Sasol and other giants over coal use

By: Reuters     13th May 2020 Norway's $1-trillion wealth fund is excluding some of the world's biggest commodities firms from its portfolio, including Glencore and Anglo American, because of their use and production of coal. Underlining the growing role of climate considerations for long-term investors, the fund is also... 

World's largest wealth fund blacklists Glencore, Sasol and other giants over coal use

World’s top mining companies committed to climate change solutions – ICMM 

By: Martin Creamer     13th May 2020 Twenty seven of the world's leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM), Mining Weekly can today report. The ICMM is an international organisation dedicated to a... 

World’s top mining companies committed to climate change solutions – ICMM
International Council on Mining and Metals CEO Tom Butler

CEF denies nine ‘requests’ for support amount to a bailout 

By: Terence Creamer     12th May 2020 South Africa’s State-owned Central Energy Fund (CEF) has outlined an extensive list of support measures – including access to a portion of the fuel levy and carbon-tax proceeds – which it argued on Tuesday would help extricate the group from a “precarious financial position”, precipitated by... 

CEF denies nine ‘requests’ for support amount to a bailout
Photo by Creamer Media
The PetroSA refinery in Mossel Bay

Council increases mapping to drive South Africa's exploration attractiveness 

By: Donna Slater     12th May 2020 As part of government’s response to keep the South African economy afloat during the outbreak of Covid-19 and beyond, the Council for Geosciences (CGS) has been mandated to increase its country-wide survey to bolster South Africa as an exploration hotspot once the lockdown is over. CGS CEO Mosa... 

Anglo delivering through volatile times with $14.5bn liquidity  

By: Martin Creamer     12th May 2020 How Anglo American is ‘delivering through volatile times’ was outlined on Tuesday  at Bank of America’s virtual global metals, mining and steel conference, where it reiterated its strong liquidity position of $14.5-billion, made up of $6.9-billion in cash and $7.6-billion in undrawn committed... 

Anglo delivering through volatile times with $14.5bn liquidity
Photo by Anglo American
Anglo American's FutureSmart MiningTM is an innovation-led approach to sustainable mining.

Bishop’s Impala Asset Management joins campaign to oust CEO of Teck

By: , Bloomberg     12th May 2020 Impala Asset Management has become the second investor in a month to go public about efforts to pressure Canadian miner Teck Resources into ousting its longstanding CEO. The Connecticut firm, founded by industry veteran Bob Bishop, said it sent a letter to Teck’s board Feb. 28, excerpts of... 

Bishop’s Impala Asset Management joins campaign to oust CEO of Teck
Teck Resources CEO Don Lindsay

Coal miner Contura says sites back to near normal staffing levels

By: Mariaan Webb     11th May 2020 US coal mining company Contura Energy said on Monday that all its sites were back to “nearly normal” staffing levels and operating capacity, with additional precautions to help reduce the risk of exposure to Covid-19. Early last month, the coal-mining company idled the majority of its operations... 

Coal miner Contura says sites back to near normal staffing levels

Weekly Coal Index Report

11th May 2020 The extent of the Covid-19 lockdown demand destruction has become more evident as data comes in, with many of SA’s key export destinations registering falls in power demand of between 10% to 30% in April. However, this has naturally been balanced by fewer railings and coal mines operating at far... 

Weekly Coal Index Report

Investigation launched into Grosvenor explosion

By: Esmarie Iannucci     11th May 2020 The Queensland government has established an independent mine safety Board of Inquiry into the recent explosion at the Grosvenor coal mine, which left five people injured. Mines Minister Dr Anthony Lynham said the board would be able to conduct public hearings, call witnesses and make broad... 

Anglo re-enters Grosvenor

By: Esmarie Iannucci     11th May 2020 Diversified miner Anglo American has started the staged re-entry of its Grosvenor Grosvenor mine, in Queensland, following an explosion last week which injured five workers. CEO of Anglo American’s metallurgical coal business, Tyler Mitchelson over the weekend said that the company would regain... 

Polish coal producer to cut pay and hours by 20% in May

By: Reuters     8th May 2020 Trade unions at Poland's biggest coal producer, State-run PGG, have agreed to the company reducing hours and pay by 20% in May, which would make PGG eligible for government help. Poland generates most of its electricity from coal but demand for power has slumped due to the new coronavirus... 

Polish coal producer to cut pay and hours by 20% in May

DMRE to test market appetite for 2 500 MW of small nuclear reactors  

By: Terence Creamer     7th May 2020 The Department of Mineral Resources and Energy (DMRE) told lawmakers on May 7 that the development of a roadmap for a 2 500 MW nuclear new build programme would commence soon and that the market would be tested for “robust funding options”. A request for information would be issued to assess... 

DMRE to test market appetite for 2 500 MW of small nuclear reactors
Mineral Resources and Energy Minister Gwede Mantashe

Poland to test 1 000 miners a day as coronavirus grips coal region

By: Reuters     7th May 2020 Poland plans to test 1 000 miners a day at drive-through sites to check whether they have been infected with the coronavirus as data show a rapid growth in new cases in the coal region. Poland has reported 14 898 infections, including 737 deaths. Earlier this week the Silesia mining region in... 

In US shale bust, frack-sand miners are the new coal companies

By: Reuters     7th May 2020 Three years ago, companies selling frack sand to oil producers were booming, opening multi-million dollar mines, buying rivals and selling shares in what was the hottest niche in oilfield services. But the shale bust in early March has turned the frack sand mining business into the new coal. As... 

ArcelorMittal sees signs of virus low point as lockdowns ease

By: , Bloomberg     7th May 2020 ArcelorMittal withdrew its closely watched global steel guidance because of the coronavirus pandemic, but sounded a relatively upbeat tone as lockdown restrictions start to ease. While ArcelorMittal likened the suddenness of the virus impact to the global financial crisis, it looked forward to... 

China is virtually alone in backing Africa’s coal projects

By: , Bloomberg     7th May 2020 For more than two decades, Zimbabwe has been trying to break ground on a giant coal-power complex by the world’s biggest man-made reservoir. China just agreed to get the $4.2-billion project underway. The development near the southern shore of Lake Kariba is good news for Zimbabwe, where a... 

China is virtually alone in backing Africa’s coal projects
The Kariba dam on the Lake Kariba.

Full legal separation of Eskom divisions still years off, lawmakers hear 

By: Terence Creamer     7th May 2020 Eskom CEO Andre de Ruyter told lawmakers on May 6 that “good progress” had been made on the “divisionalisation”, under Eskom Holdings, of the utility’s generation, transmission and distribution businesses, with separate boards and MDs having been appointed for each unit. He also indicated,... 

Full legal separation of Eskom divisions still years off, lawmakers hear
Photo by Creamer Media's Donna Slater
Eskom CEO Andre de Ruyter

Anglo American working towards demerger of South African coal assets

By: , Bloomberg     7th May 2020 Anglo American plans to exit its South African thermal coal business within the next three years by spinning off the unit as the miner accelerates its retreat from the dirtiest fuel. Anglo has been increasingly vocal on its plans to stop mining thermal coal in the past year, but has so far given... 

Anglo American working towards demerger of South African coal assets

Eskom reports lost income of R2.5bn in April

By: African News Agency      7th May 2020 Eskom's income has shrunk by about R2.5 billion in April as energy demand plummeted due to the country's national lockdown in response to the Covid-19 pandemic, the power utility's CEO Andre de Ruyter said on Wednesday. "We have seen a reduction in cash-generation for April of some R2.5 billion.... 

Eskom reports lost income of R2.5bn in April
Eskom CEO Andre de Ruyter

Judgment reserved at Mining Charter review hearing 

By: Martin Creamer     7th May 2020 A full bench has heard the application for a judicial review of certain aspects of the Mining Charter gazetted in September 2018. Judge President Mlambo, judges Vally and  Van Der Schyff reserved judgment on the application lodged by the Minerals Council South Africa on March 27, 2019, when the... 

Judgment reserved at Mining Charter review hearing
Photo by Creamer Media
Minerals Council South Africa building in central Johannesburg.

Cause of explosion unclear - Anglo American

By: Esmarie Iannucci     7th May 2020 Mining major Anglo American on Thursday said that the cause of the explosion which rocked its Grosvenor mine, in Queensland, on Wednesday, and injured five, has not yet been established. “Our focus right now is on supporting our injured colleagues and their families, and our team is doing... 

Ncondezi secures $5.5m C&I pipeline

By: Tasneem Bulbulia     6th May 2020 Aim-listed Ncondezi Energy has finalised a binding agreement with GridX Africa Development for a pipeline of solar and battery storage projects in the commercial and industrial (C&I) sector. Ncondezi and GridX have signed a binding relationship agreement under which Ncondezi has the right but not... 

Five injured in Anglo American coal mine explosion

By: Esmarie Iannucci     6th May 2020 Five people have been injured in an explosion at diversified miner Anglo American’s Grosvenor coal mine, in Queensland, the miner confirmed on Wednesday. The miner said in a statement to Mining Weekly Online that the mine was in the process of being evacuated and operations have been stopped,... 

Buffalo implements ‘no work, no pay’ for unusable services employees

By: Martin Creamer     6th May 2020 Coal mining company Buffalo Coal said on Wednesday that it had implemented a ‘no-work-no-pay’ policy for those employees whose services could be not utilised since the extension of national lockdown on April 17. In its fourth Covid-19 update, Buffalo stated that it had successfully implemented... 

Buffalo implements ‘no work, no pay’ for unusable services employees
Buffalo Coal's Aviemore mine.

Coal snags $31m in US stimulus loans for small business

By: , Bloomberg     6th May 2020 Stimulus loans meant to help small businesses hurt by the coronavirus pandemic are being doled out to coal companies, stoking criticism from environmentalists that the Trump administration is using the aid to help a preferred industry that was already in financial trouble. The US Small Business... 

Coal snags $31m in US stimulus loans for small business

Top coal miner seeks loans as lockdown saps payments

By: , Bloomberg     5th May 2020 Bharat Coking Coal, a unit of Coal India, the world’s largest producer, is planning a debt-raising to meet expenses, after payment curtailments by power generators led to a cash-squeeze, according to people familiar with development. The company, based in eastern Indian state of Jharkhand, is in... 

Resgen enters into debt deal to fund rail link for Boikarabelo

By: Donna Slater     5th May 2020 JSE-listed energy resources company Resource Generation (Resgen) reports that its subsidiary, Ledjadja Coal has entered into nonbinding equity and debt term sheets with Pan African Infrastructure Development Fund 2 SA (PAIDF2SA) and Pan African Infrastructure Development Fund 2 limited liability... 

MC Mining restarts, ‘no work, no pay’ for nonessential staff  

By: Martin Creamer     5th May 2020 The mechanised Uitkomst underground colliery has restarted, with ramp up to 50% capacity expected in seven to ten days, London-, Sydney- and Johannesburg-listed MC Mining said on Tuesday. The lockdown’s impact on activities at the corporate office had led to the implementation of business... 

MC Mining restarts, ‘no work, no pay’ for nonessential staff
Brenda Berlin

Hwange sets focus on improving production, sales

By: Tasneem Bulbulia     4th May 2020 JSE-listed Hwange Colliery Company has reported a gross profit of ZWL182-million for the year ended December 31, 2019, compared with a loss of ZWL3.3-million the year before. Its net loss, however, widened from ZWL78-million to ZWL91-million, owing to an exchange loss of ZWL322-million on legacy... 

Exxaro provides more Covid relief, releases ESG report plus financials 

By: Martin Creamer     4th May 2020 Diversified mining and renewable energy company Exxaro on Monday pledged a further R3.45-million aid in response to the Covid-19 pandemic, while also releasing its integrated sustainability report and making available its audited financial statements for 2019. The latest R3.45-million to assist... 

Exxaro provides more Covid relief, releases ESG report plus financials
Photo by Creamer Media's Donna Slater
Exxaro CEO Mxolisi Mgojo

Arch drops coal from name to highlight focus on metallurgical markets

By: Creamer Media Reporter      4th May 2020 US-based miner Arch Coal will be known as Arch Resources from May 15, underscoring the company’s transition to a producer of metallurgical products for the global steel industry. “Arch produces some of the world's highest quality metallurgical products for the global marketplace, and the startup... 

Weekly Coal Index Report

4th May 2020 Financial coal markets enjoyed a relatively stronger week as some price consolidation occurred on API#4 around the $52.70 level. However, the physical discount also narrowed leading to slightly weaker RB1 prices, even as major mining houses such as Anglo and Glencore announced significant... 

Weekly Coal Index Report

Coal loses backing from another big bank

By: , Bloomberg     4th May 2020 Financing a thermal coal project in Australia just got a little bit harder after Westpac Banking said it would exit the sector by 2030, leaving Australia and New Zealand Banking Group as the last of the country’s big four yet to commit to dropping the most polluting fuel. Australia is the... 

Sumitomo kicks off Qld JV

By: Esmarie Iannucci     4th May 2020 Japanese major Sumitomo Corporate has elected to proceed with an earn-in at the Hillalong joint venture (JV), in Queensland. ASX-listed Bowen Coking Coal and Sumitomo in November last year struck a formal farm-in agreement under which Sumitomo would earn an initial 10% interest in the project by... 

TerraCom moves to exit Mongolia

By: Esmarie Iannucci     4th May 2020 ASX-listed TerraCom has moved ahead with its plans to exit Mongolia, inking a binding term sheet to divest of its Baruun Noyon Uul (BNU) coal mine for $2. Under the terms of the agreement, Singapore-based buyer Bridge Resources will also accept a net $15-million of existing liabilities within... 

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