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Coal News
Philanthropies collectively show support for South Africa’s JET-IP
By: Darren Parker 11th November 2022 Several major nonprofit organisations have pledged their support for South Africa’s Just Energy Transition Investment Plan (JET-IP) for 2023 to 2027. South Africa has committed to reducing its greenhouse-gas (GHG) emissions by 2030, subject to appropriate financial support and premised on... →
It’s been a great year for Menar, says chair Mpumelelo Mkhabela 
By: Martin Creamer 11th November 2022 Despite its many challenges, 2022 has been a very successful year for the Menar group of companies. “We increased production at our operations, maintained our solid safety record, and made good headway in the development of our new projects,” Menar chairperson Dr Mpumelelo Mkhabela told Mining... →
Coal is king, insists Mantashe - as Ramaphosa is feted for green plan in Egypt
By: News24Wire 11th November 2022 As world leaders fete President Cyril Ramaphosa for his green agenda in Egypt, his minister of mineral resources and energy insisted this week that coal will continue to play a critical part in electricity generation in South Africa. Gwede Mantashe believes coal, along with gas, nuclear and... →
Transnet declares sixth force majeure in 18 months
By: News24Wire 11th November 2022 Transnet has declared its sixth force majeure in 18 months, this time on the coal export line to Richards Bay, which experienced a massive derailment on Tuesday. Force majeure is a clause that is included in contracts when a party cannot fulfil its obligations owing to an unforeseeable and... →
Mineral licences, coal transition, Namibia's EIB funding make headlines
11th November 2022 Mining Weekly Editor Martin Creamer discusses the backlog of mineral licences being cut by almost 45%; the recent Mistra policy paper which argues that as South Africa moves away from coal, investment will be needed, not only for renewables, but also for coal communities; and Namibia's green... →
Eskom confirms arrest of two coal thieves at Kendal power station
By: Marleny Arnoldi 11th November 2022 State-owned power utility Eskom says two truck drivers contracted by it were arrested at the Kendal power station, in Mpumalanga, on November 10, after they were found to be in possession of stolen coal. A criminal case of coal theft has been registered with the Ogies police station. →
Kendal power station
Govt not considering mining tax - Albanese
By: Esmarie Iannucci 11th November 2022 Australian Prime Minister Anthony Albanese said on Friday that while a price cap on gas was still on the table to help reign in electricity prices on the east coast, the government was not considering a mining tax. Responding to questions from the 2GB programme, Albanese said a price cap on gas... →
National Treasury releases details of ‘highly concessional’ AFD, KfW loans worth €600m
By: Terence Creamer 10th November 2022 The National Treasury has released details of what it describes as “highly concessional” loans with a combined value of €600-million, which are the first to be advanced under the $8.5-billion Just Energy Transition Partnership that South Africa entered into with several developed countries in... →
The National Treasury says the just energy transition could help South Africa to achieve energy security and climate resilience
South Africa's mining output contracts again, but mineral sales accelerate
By: Creamer Media Reporter 10th November 2022 South Africa's mining production contracted by 4.5% year-on-year in September. The largest negative contributors were iron-ore (-23.1% and contributing -2.7 percentage points) and gold (-12.4% and contributing -2.1 percentage points). →
Mminele outlines Just Energy Transition Investment Plan implementation vision
By: Terence Creamer 10th November 2022 The International Partners Group (IPG) of France, Germany, the UK, the US and the EU jointly endorsed South Africa’s Just Energy Transition Investment Plan (JET-IP) during the World Leaders Summit at COP27, which took place at Sharm El Sheikh, Egypt, on November 7. Engineering News editor Terence... →
Climate projections again point to dangerous 2.7 °C rise by 2100
By: Bloomberg 10th November 2022 The research partnership Climate Action Tracker (CAT) on Thursday released its latest projections of how greenhouse gas emissions may dangerously raise the global average temperature. The result is similar to last year’s – a troubling 2.7 °C increase above preindustrial levels if policies don’t... →
Projections for global temperature increase by 2100 above preindustrial levels based on targets and announcements from COP27.
Mining Indaba to welcome more delegates, new features in 2023
By: Sabrina Jardim 9th November 2022 Next year’s Investing in Africa Mining Indaba – to be held at the Cape Town International Convention Centre from February 6 to 9 – will operate at full capacity, as all Covid-19 restrictions have been lifted. During a media briefing on November 9, portfolio director for the Indaba Simon Ford said... →
Simon Ford
NUM to celebrate 40 years
By: Donna Slater 9th November 2022 The National Union of Mineworkers (NUM) will celebrate its fortieth anniversary at the old Peter Mokaba Stadium in Polokwane, Limpopo, on December 4. Established in 1982 in Klerksdorp (now Matlosana), the NUM was initially led by general secretary Cyril Ramaphosa, president James Motlatsi and... →
Coal train derailment took place against ‘backdrop of threats by disgruntled groups’
By: Creamer Media Reporter 9th November 2022 State-owned logistics group Transnet reports that recovery teams are on site at the scene of the derailment that occurred on the morning of November 8 2022, where a train carrying export coal to Richards Bay derailed between Bloubank and Nhlazetshe stations, near Ulundi. Transnet confirmed in a... →
World’s carbon dioxide hotspots pinpointed by Al Gore-backed climate project
By: Bloomberg 9th November 2022 A consortium of dozens of research nonprofits on Wednesday launched a free online platform that details greenhouse gas emissions around the world across 20 economic sectors. Climate Trace, which can be viewed on a web browser, includes a zoomable world map that displays and ranks the dirtiest 72... →
Al Gore addressing delegates at COP27
France, Germany extend €600m to support South Africa’s transition from coal
By: Martin Creamer 9th November 2022 South Africa, France and Germany have signed loan agreements for the two European nations to each extend €300-million in concessional financing to South Africa to support this country’s efforts to reduce its reliance on coal through a just transition to cleaner energy sources. Mining Weekly can... →
Coal prices no issue to electricity cost - MCA
By: Esmarie Iannucci 9th November 2022 The Minerals Council of Australia (MCA) has rejected the notion that coal prices were contributing to higher electricity prices in Australia, noting that coal share of electricity generated had reduced as more renewables were introduced. As a result, renewable and gas generation set the price in... →
Coal giant Peabody likely to pay dividend in 2023, analyst says
By: Bloomberg 8th November 2022 Peabody Energy, the biggest US coal miner, will probably start paying dividends next year after using growing cash holdings to pay off debt, according to Lucas Pipes, an analyst with B Riley Securities. Some of Peabody’s debt covenants include restrictions on returning capital to shareholders... →
Export coal train derails en route to Richards Bay
By: Schalk Burger 8th November 2022 A train carrying export coal en route to Richards Bay derailed outside Intshamanzi, near Ulundi, on the morning of November 8, State-owned Transnet Freight Rail (TFR) has reported. Response teams have been activated and no injuries have been reported. →
Investment needed for outgoing coal, incoming renewables, impacted communities, Mapungubwe highlights
By: Martin Creamer 8th November 2022 With South Africa having committed to transition away from coal, investments will not only be required for the retiring of coal plants and the ramping up of renewable energy, but also for coal communities, who will require alternative economic development plans to sustain the livelihoods of all... →
Massive savings to restart Dartbrook identified
By: Esmarie Iannucci 8th November 2022 Capital cost estimates to restart the Dartbrook coal mine, in the Hunter Valley of New South Wales, have decreased by A$160-million to A$180-million, owner Australian Pacific Coal said on Tuesday. Australian Pacific Coal is working with strategic partners M Resources and Tetra to fast-track an... →
Court’s order that Nersa must re-determine Eskom’s regulatory asset base has implications for pending tariffs
By: Terence Creamer 7th November 2022 The Gauteng High Court has set aside the National Energy Regulator of South Africa’s (Nersa’s) most recent evaluation of Eskom’s regulatory asset base (RAB), a decision that has potential significant implications for a pending tariff determination. The State-owned utility took the regulator’s RAB... →
Coal India profit soars as shortages drive demand and prices
By: Bloomberg 7th November 2022 Coal India, one of the world’s top producers of the fuel, reported a two-fold jump in its second-quarter profit as demand and prices surged. Net income for the three months ended September rose to 60.4-billion rupees ($738-million) from 29.4-billion rupees a year earlier, Coal India said in a... →
DMRE confirms yet another extension for delayed IPP projects
By: Terence Creamer 7th November 2022 The Department of Mineral Resources and Energy (DMRE) has confirmed that the deadline for outstanding projects named as preferred bids under both the risk mitigation and bid window five (BW5) of the renewables programme have been given yet another extension beyond the October 31 deadline... →
We're on a highway to climate hell, UN boss warns 
By: Reuters 7th November 2022 United Nations Secretary General Antonio Guterres told countries gathered at the start of the COP27 summit in Egypt on Monday they face a stark choice: work together now to cut emissions or condemn future generations to climate catastrophe. The speech was intended to set an urgent tone as... →
White House defends Biden’s end-of-coal comments Manchin derided
By: Bloomberg 7th November 2022 The White House sought to reframe comments by President Joe Biden on closing coal plants as part of a US “energy transition,” responding to harsh criticism by West Virginia Senator Joe Manchin days before midterm elections with Democratic congressional majorities at stake. Biden’s comments while... →
Allegiance misses raising mark
By: Esmarie Iannucci 7th November 2022 Coal miner Allegiance Coal has fallen short of it’s A$33.6-million capital raise aspirations. The company in October launched an eight-for-five entitlement offer, priced at 4c a share, to raise up to A$33.6-million before costs. The institutional component of the entitlement offer was completed... →
Coronado prices fall as Peabody talks end
By: Esmarie Iannucci 7th November 2022 The share price of coal miner Coronado Global Resources tumbled on Monday on news that the company had discontinued discussions with energy major Peabody Energy Corporation. Coronado last month confirmed merger talks with the US major, but said at the time that no agreement had been reached. →
Tinkler takes a stake in Jameson
By: Esmarie Iannucci 7th November 2022 Junior Jameson Resources has welcomed a A$10-million investment by mining personality Nathan Tinkler through his Oceltip Coal companies. The placement will consist of more than 86.6-million shares, which will be placed in two tranches of 43.3-millione ach, with the first tranche issued on... →
$8.5bn ‘catalytic’ but insufficient to deliver $99bn Just Energy Transition Investment Plan
By: Terence Creamer 5th November 2022 President Cyril Ramaphosa says the $8.5-billion (R128-billion) in concessional climate financing on offer from various developed countries to South Africa will play a “catalytic” role in supporting the implementation of the country’s larger $99-billion (R1.5-trillion) Just Energy Transition... →
Buffalo Coal offers one-for-one rights offer to shareholders
By: Donna Slater 4th November 2022 AltX- and TSX-V-listed South African coal miner Buffalo Coal Corporation will offer rights to South African and Canadian holders of its common shares, on a one-for-one basis, at the close of business on November 18. The company, which has 421.35-million common shares in issue, intends to use the... →
MC Mining completes A$40m rights offer
By: Donna Slater 4th November 2022 Aim-, ASX- and JSE-listed coal explorer, developer and miner MC Mining has successfully concluded a fully underwritten renounceable rights offer, raising its targeted A$40-million through the issue of more than 200-million new ordinary shares. MC Mining CEO and MD Godfrey Gomwe says the... →
Peabody approves $140m redevelopment capital for Australia coal mine
By: Mariaan Webb 4th November 2022 US-based coal miner Peabody Energy has begun initial steps to redevelop its North Goonyella mine – a hard-coking coal longwall operation in Australia with more than 70-million tons of reserves. The company on Thursday announced an initial $140-million of redevelopment capital budget for further... →
$497m just transition loan for Komati repowering approved by World Bank
By: Terence Creamer 4th November 2022 South Africa’s request for a $497-million (about R9-billion) to decommission and repower the Komati coal-fired power plant using renewables and batteries has been approved by the World Bank Group board of executive directors. The last Komati unit was shut at midday on October 31, signalling what... →
The last Komati unit was shut at midday on October 31
Instead of phasing down coal the world is burning more than ever
By: Bloomberg 4th November 2022 Last November in Glasgow, the world’s climate leaders were locked in a fierce debate over whether the final draft of the summit’s agreement should include a pledge to “phase-out” or “phase-down” coal. Since then, the more appropriate term would probably be “phase-up". →
Sasol says 600 MW renewables deal ‘imminent’ as it moves to cut emissions
By: Terence Creamer 3rd November 2022 JSE-listed group Sasol expects to conclude power purchase agreements for 600 MW of renewable energy “imminently” as it moves ahead with plans to meet a 2030 target of reducing its greenhouse-gas (GHG) emissions by 30%, while sustaining energy and chemical production volumes. The renewables... →
Sasol CEO Fleetwood Grobler
High commodity prices led to record tax - ATO
By: Esmarie Iannucci 3rd November 2022 Data released by the Australian Taxation Office (ATO) on Thursday showed that large corporations in Australia pad some $68-billion in income tax in 2020-21, the highest since reporting started. High commodity prices were the key drivers of the increase in corporate tax payments, the ATO said,... →
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