R/€ = 16.82 Change: 0.02
R/$ = 15.68 Change: 0.06
Au 1865.31 $/oz Change: 8.03
Pt 956.50 $/oz Change: -15.50

Coal News

India leans toward continued import of Russian coking coal - Minister

By: Reuters     28th March 2022 India is leaning toward continuing to import coking coal from Russia, the steel minister said on Sunday, seeming to buck a global trend to shun Moscow over its invasion of Ukraine. "We are moving in the direction of importing coking coal from Russia," Ramchandra Prasad Singh told a conference in... 

Ops at Moranbah North suspended after fatality

By: Esmarie Iannucci     28th March 2022 Diversified miner Anglo American has reported a fatality at its Moranbah North coal mine, in Queensland. The contractor fatality occurred on Friday evening during a lifting incident, and an emergency response was immediately initiated. 

Commodity boom remains untapped as South Africa fights rail woes

By: Bloomberg     28th March 2022 South Africa is missing out on some of the riches on offer from the commodities boom as a rail network beset by problems hobbles its exports. While coal prices recently soared to a record and iron ore is historically high, miners are being forced to stockpile supplies as state-owned Transnet... 

A Transnet Freight Rail train transporting coal to port

Exxaro realises R16.74bn of 2018 investment pledge, creates 6 712 SA jobs 

By: Donna Slater     25th March 2022 Coal miner Exxaro’s pledge at the 2018 South African Investment Conference (SAIC) to invest R19.54-billion in projects led to it completing seven megaprojects at operations in Limpopo and Mpumalanga, with as much as 98% of its capital expenditure having been spent with South African suppliers.... 

An image of the Grootegeluk mine
Photo by Creamer Media's Donna Slater
An off-highway dump truck passes an upper level of Exxaro's Grootegeluk coal mine near Lephalale

Europe can't rely on key exporter Australia for coal, miner says

By: Bloomberg     25th March 2022 Producers of power-station coal in Australia, the second-biggest exporter, have only limited capacity to send cargoes to Europe to help replace Russian fuel, according to a Brisbane-based miner. New Hope, which operates the 10-million tons a year Bengalla mine on Australia’s east coast, has held... 

South Africa’s electricity plan ‘underestimating’ new generation needs, former Eskom CEO warns 

By: Terence Creamer     25th March 2022 South Africa’s current Integrated Resource Plan (IRP) is significantly underestimating what new capacity should be being built to cater for the decommissioning of the coal-fired power stations and any future demand growth, African Rainbow Energy and Power (AREP) CEO Brian Dames has warned.... 

Eskom CEO Andre de Ruyter (with mic) speaks during an energy transition breakaway session at the South Africa Investment Conference 2022
Photo by Creamer Media Chief Photographer Donna Slater
Eskom CEO Andre de Ruyter (with mic) speaks during an energy transition breakaway session at the South Africa Investment Conference 2022

German hard coal importers receiving Russian supplies - BDEW

By: Reuters     25th March 2022 German operators of hard coal-fired power plants are receiving regular amounts of imported feedstock from Russia and on-site coal inventories are filled until May, a note from Germany's utility industry association said on Wednesday. "Member companies are telling us that ... shipments from... 

Stanmore completes fundraiser for BMC buy

By: Esmarie Iannucci     24th March 2022 Coal miner Stanmore Coal has completed the retail entitlement component of a A$694.1-million capital raise initiative, to fund the acquisition of an 80% interest in the BMC metallurgical coal joint venture (JV) in Queensland from major BHP. Stanmore on Thursday announced that it had raised some... 

World needs to double efforts to limit warming to 1.5 ºC by 2050 – WoodMac

By: Schalk Burger     24th March 2022 The world is facing its biggest challenge yet in its journey towards net-zero emissions and needs to double-down on plans to achieve the goal of limiting the rise in global temperatures to within 1.5 °C above preindustrial levels by 2050, natural resources market research company Wood Mackenzie... 

New Seifsa COO calls on govt to create a business-friendly environment

By: Schalk Burger     23rd March 2022 The South African government should focus on implementing a set of policy objectives that make the operating environment in the metals and engineering sector more business-friendly and ensures that the cost of production is lower, industry organisation the Steel and Engineering Industries... 

Seifsa COO Tafadzwa Chibanguza 
Seifsa COO Tafadzwa Chibanguza 

Renewable-energy projects Merafe’s 2022 focus, says CEO Zanele Matlala   

By: Martin Creamer     22nd March 2022 The focus of ferrochrome company Merafe Resources in 2022 will be on renewable energy projects, along with efficient operations, cash management and well-ordered capital allocations, CEO Zanele Matlala said on Tuesday. The year 2021 has been one of spectacular recovery for the Glencore Merafe... 

Creamer Media screenshot of pictures on Merafe website.
Merafe Resources presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Coal buyers in India are paying 300% premiums to secure fuel

By: Bloomberg     22nd March 2022 Indian coal prices have surged in auctions held by the country’s state-run miner, with domestic buyers rushing to secure supplies as global disruptions push up the cost of imported fuels. Customers paid Coal India an average premium of more than 340% above baseline prices in two sales this... 

Thungela reaps global coal demand rewards despite rail disruptions 

By: Donna Slater     22nd March 2022 JSE- and LSE-listed thermal coal miner Thungela Resources recorded a 601% year-on-year increase in revenue to R26.28-billion in 2021, pushing it to a profit of R6.94-billion, from a loss of R362-million in the prior year. The miner posted headline earnings a share of R66.57 for 2021, compared... 

New Hope posts strong financials in first half

By: Esmarie Iannucci     22nd March 2022 Coal miner New Hope Corporation has reported a stellar interim period, with profits after tax increasing by 41 938%, from A$0.8-million in the first half of 2021, to A$336.2-million. Earnings before interests, tax, depreciation and amortisation also increased 583% in the same period, from... 

Parliaments must act swiftly to reduce climate change – Mapisa-Nqakula  

By: Martin Creamer     22nd March 2022 National Assembly speaker Nosiviwe Mapisa-Nqakula on Monday urged heads of the world's Parliaments gathering at the 144th plenary assembly of the Inter-Parliamentary Union to undertake all necessary efforts to deal with climate change through oversight and the constitutional powers of the... 

South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula
South Africa's National Assembly speaker Nosiviwe Mapisa-Nqakula

Aus uses coal/alumina to aid Ukraine

By: Esmarie Iannucci     21st March 2022 Australia over the weekend took the decision to ban alumina and aluminium ore exports, including bauxite, into Russia, as part of sanctions against the nation following its invasion of Ukraine. Trade Minister Dan Tehan said the ban on Australian aluminium ores and alumina would limit Russia’s... 

Court orders government to clean up air in coal belt

By: Reuters     18th March 2022 A South African court on Friday upheld a complaint by activists that poor air quality in the coal belt is a breach of constitutional rights, giving the environment minister a year to enforce a clean air plan. South Africa's coal belt, east of the capital Pretoria and main city Johannesburg is... 

Eskom's Duvha power station
Eskom's Duvha power station

Anglo partnership secures 100% renewable energy supply for South Africa operations 

By: Martin Creamer     18th March 2022 Diversified mining and marketing company Anglo American has signed a memorandum of understanding with global renewable energy company EDF Renewables to work together towards developing a regional renewable energy ecosystem in South Africa. The regional renewable energy ecosystem is expected to be... 

Picture supplied.
Anglo American management board chairperson in South Africa Nolitha Fakude.

Now’s the time for full energy freedom, says green hydrogen stalwart Andrew Forrest 

By: Martin Creamer     17th March 2022 Let’s give energy sovereignty to the world. Renewable energy is everywhere. Every country can produce it. Now is the time to capture it, and have full energy freedom, enthused Fortescue Metals Group nonexecutive chairperson Andrew Forrest, while being interviewed by CNN anchor Christiane... 

Creamer Media screen shot.
Photo by Creamer Media
Fortescue Metals Group nonexecutive chairperson Andrew Forrest (right), being interviewed by CNN anchor Christiane Amanpour.

Eskom sees R20.9bn of extra diesel costs on coal outages

By: Bloomberg     17th March 2022 Indebted State-owned power utility expects running costs for its diesel-fed turbines, which are used to keep the lights on when coal-powered plants break down, to surge as it struggles to keep up with maintenance. Eskom Holdings sees about a third of its coal-fired capacity being unavailable at... 

Glencore says world has to adapt to shift in commodity trade flows

By: Marleny Arnoldi     16th March 2022 Global commodity trade flows will have to adapt to some, or all, of Russia and Ukraine’s supply being unavailable, whether owing to infrastructure damage, sanctions or ethical concerns, says global diversified miner Glencore. Unpacking the main risks to its business in its 2021 annual report,... 

Standard Bank halts new coal-power funding, but backs gas as ‘transition fuel’  

By: Terence Creamer     16th March 2022 The Standard Bank Group has become the latest South African bank to confirm that it will no longer finance new coal-fired power plants or support the expansion of existing coal-fired power plants as part of its newly unveiled commitment to achieve net-zero carbon emissions from its portfolio of... 

Standard Bank Group Corporate and Investment Banking CEO Kenny Fihla
Standard Bank Group Corporate and Investment Banking CEO Kenny Fihla

Markets must adapt to lack of Russian, Ukrainian commodities, Glencore says

By: Reuters     16th March 2022 Global commodity markets will need to adapt to a lack of supply from Russia and Ukraine, global miner and commodities trader Glencore said in its annual report on Wednesday. "Over time, global commodity trade flows will need to adapt to some or all of Russian/Ukrainian supply being unavailable,... 

Sipho Nkosi’s red tape cutting role crucial to encourage investment – Menar  

By: Martin Creamer     15th March 2022 The appointment of mining stalwart Sipho Nkosi to cut red tape is crucial to encourage new investment and expand existing investment in South Africa, says Menar MD Vuslat Bayoglu, whose private investment company has about R1.5-billion worth of investment being delayed by regulatory processes.... 

Creamer Media picture
Menar MD Vuslat Bayoglu interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

New coal mine projects seen swelling global methane emissions by a fifth

By: Reuters     15th March 2022 Global methane emissions from the extraction of coal could rise by as much as 21.6% if all new mining projects now under development go into operation, according to a research report by US environmental group Global Energy Monitor. The report said methane emissions from the world's coal mines... 

Creecy wants climate commission to oversee consultations on air quality disputes  

By: Terence Creamer     14th March 2022 Forestry, Fisheries and the Environment Minister Barbara Creecy has written to President Cyril Ramaphosa to request that the Presidential Climate Commission (PCC) be allowed to oversee public consultations on appeals that have arisen in relation to air-quality compliance by Eskom power stations.... 

Forestry, Fisheries and the Environment Minister Barbara Creecy
Forestry, Fisheries and the Environment Minister Barbara Creecy

Equivalent of a Koeberg arising in solar projects – AmaranthCX  

By: Martin Creamer     14th March 2022 The equivalent of a Koeberg power station is arising in the form of new largely mine-linked private-sector solar power photovoltaic projects across Southern Africa, according to AmaranthCX director and founder Paul Miller, whose company is working on the second edition of its electronic map of... 

Creamer Media screenshot
AmaranthCX director Paul Miller interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Weekly Commodities Market Wrap

14th March 2022 ENERGIES - Coal markets had a wild ride last week, with Richards Bay Coal Terminal physical prices reaching a high of around $450/mt, before coming back down to around $380. As we said previously, this was likely to be the high water mark with the most desperate utilities covering in the spot... 

A table with the latest global commodity spot prices

China seeks to cut reliance on coal imports with mining boom

By: Bloomberg     14th March 2022 China plans a massive increase in coal mining, a move that will dramatically reduce its reliance on imports and deal a blow to its near-term climate actions. The National Development and Reform Commission (NDRC), the nation’s top economic planner, told officials from major mining regions at a... 

MC Mining narrows its interim losses

By: Tasneem Bulbulia     14th March 2022 JSE-listed MC Mining posted a narrower loss after tax of $800 000 for the six months ended December 31, 2021, compared with the $2.7-million loss after tax posted for the six months ended December 31, 2020. Revenue of $13-million and cost of sales of $10.9-million resulted in a gross profit of... 

India will ensure steady coking coal cargoes to allay supply concerns

By: Reuters     11th March 2022 India will take steps to ensure a steady supply of coking coal for domestic steel companies, which are struggling with cargo disruptions and rocketing prices in the wake of Russia's invasion of Ukraine. "We are discussing amongst ourselves, and we will definitely chalk out some plan on how to... 

China spot coal prices soar to near double government-set cap

By: Bloomberg     11th March 2022 Spot coal prices in China surged this week amid fears of a tightening global market, nearly doubling a government-set cap for long-term supply to power plants. The price of physical thermal coal at mines in the hub of Yulin rose to as high as 1 400 yuan ($221) a ton this week, Chinese consultant... 

MC Mining appoints Mosehla interim chair, as Pryor steps down

By: Schalk Burger     11th March 2022 Coal exploration, development and mining company MC Mining has appointed long-standing nonexecutive director Khomotso Mosehla interim chairperson, pending the outcome of a shareholder requisitioned meeting scheduled for April 11. This follows the decision by Bernard Pryor to step down as... 

US coal producers say export capacity is limited

By: Reuters     11th March 2022 US coal producers said on Thursday they only have limited ability to boost exports and offset lost Russian volumes due to chronic industry underinvestment amid the clean energy transition. "The ability for the supply side to respond is tough," Jim Grech, CEO of Peabody Energy, said at the... 

South Africa must move very rapidly towards green energy, climate webinar hears  

By: Martin Creamer     11th March 2022 The ratio between green energy and brown energy in South Africa needs to move very rapidly in favour of green energy, says Climate Adaptation Lead to the South African Presidential Climate Commission and Institute for Security Studies Africa senior research associate Dhesigen Naidoo. Naidoo was... 

Creamer Media screenshot
Fasken webinar on transition to green energy covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Australia coal export terminal declares force majeure on flood

By: Bloomberg     10th March 2022 Australia’s Port Kembla Coal Terminal declared a force majeure after destructive floods disrupted loading, curbing supply to a global market already grappling with a shortage of cargoes. The export terminal, located 72 km south of Sydney, ceased operations Tuesday after excessive rainfall caused... 

Australia, South Africa miners eye options as Europe makes desperate calls

By: Reuters     10th March 2022 Australian and South African miners are exploring ways to supply coal and metals consumers in Europe scrambling for alternative sources to Russian supply, but logistics and cost constraints make it difficult to rapidly boost output, companies said. Prices of palladium, coal and other commodities... 

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