R/€ = 16.84 Change: 0.01
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Pt 957.00 $/oz Change: -15.00

Coal News

Indonesia coal miners in talks with buyers seeking Russian alternatives

By: Reuters     9th March 2022 Indonesian coal miners are holding exploratory talks with buyers seeking alternatives to Russian coal, although some other countries may be better placed to supply the European market, a senior official of an industry association said on Wednesday. Russia's invasion of Ukraine has prompted... 

Wescoal name change approved by shareholders

By: Darren Parker     9th March 2022 JSE-listed Wescoal Holdings' shareholders have voted in favour of the group’s proposed name change to Salungano Group. Based on the outcome of the vote, which received nearly 100% approval from Wescoal shareholders, the name change will go ahead. A finalisation announcement regarding the name... 

Diesel supply and pricing again under the spotlight as Eskom intensifies cuts to preserve reserves  

By: Terence Creamer     9th March 2022 Eskom has again issued a warning over the supply and pricing of diesel, which it has been consuming at extreme levels in recent days to cover for its underperforming coal fleet, the energy availability factor (EAF) of which has now slumped to below 60%. The State-owned utility deployed its open... 

Eskom COO Jan Oberholzer
Photo by Creamer Media's Donna Slater
Eskom COO Jan Oberholzer

Colombia in talks with coal producers for exporting extra supplies - Minister

By: Reuters     9th March 2022 Colombia's government has begun talks with the nation's coal producers to increase exports after requests for extra supplies by European, Central American and Caribbean countries, the minister of Mines and Energy Diego Mesa told Reuters on Tuesday, as global energy flows are disrupted by the... 

An image of the Cerrejon coal mine
Glencore's Cerrejon coal mine

Residents of eMalahleni highlight air pollution, health concerns to commission

By: Schalk Burger     8th March 2022 People in communities next to coal mines and power stations in eMalahleni, Mpumalanga, on March 7 told members of the Presidential Climate Commission of their experience of the impacts of air pollution. The commission was holding its first community consultation and, according to civil and... 

Implications of Godongwana’s recent carbon tax announcements

8th March 2022 In his February Budget, Finance Minister Enoch Godongwana announced that the first phase of the carbon tax would be extended for three years, that the carbon tax rate had been increased from R134/t to R144/t, and that the carbon tax rate would be progressively increased every year to reach $20/t... 

Carbon Trust senior manager Jarredine Morris
Carbon Trust senior manager Jarredine Morris

Steeply rising diesel prices may increase load-shedding risk as Eskom warns of difficulties in absorbing costs  

By: Terence Creamer     8th March 2022 State-owned utility Eskom says it is still in the process of quantifying the likely impact of surging diesel prices on the cost of producing electricity at its open cycle gas turbine (OCGT) facilities but has cautioned that continued steep price rises will be difficult to absorb in light of its... 

Eskom CFO Calib Cassim
Photo by Creamer Media's Donna Slater
Eskom CFO Calib Cassim

Peabody secures $150m as additional margin requirements bite

By: Mariaan Webb     8th March 2022 Peabody Energy has been forced to raise $150-million to support potential near-term liquidity requirements, after the recent rally in coal prices resulted in the US miner posting an additional $534-million to satisfy margin requirements for its derivate contracts. The coal major currently has... 

Peabody secures $150m as additional margin requirements bite

Transnet records highest-ever theft of copper cable, JMPD arrests two suspects 

By: Donna Slater     8th March 2022 About 1 000 km of copper cable used to power electric locomotives has been stolen, to date, in the financial year ending on March 3, Transnet reports. This is a significant increase on the 700 km of cable stolen in the 2020/21 financial year and the 395 km of cable stolen in the 2019/20... 

US coal prices soar as war drives commodities rally

By: Bloomberg     8th March 2022 Concerns of a looming global shortage of coal are driving up prices in every US region that has access to export markets. Potential sanctions on Russia, a key supplier, have buyers around the world scrambling to line up supplies of the dirtiest fossil fuel. The war in Ukraine has roiled global... 

Montem’s Tent Mountain will be allowed to proceed through regulatory process

By: Mariaan Webb     7th March 2022 Australian company Montem  Resources on Monday announced that its Tent Mountain coal project, in Alberta, Canada, would be allowed to proceed through a regulatory review, having been designated an “advanced” coal project. The news lifted Montem’s stock by 60% to A$0.07 a share, before settling... 

Alberta expands restrictions on Rocky Mountains coal mining

By: Reuters     7th March 2022 The Canadian province of Alberta is expanding restrictions on all new coal exploration and development activities on the eastern slopes of the Rocky Mountains until it finalizes new land use policies, the government said on Friday. The United Conservative Party government had already halted coal... 

Weekly Commodities Market Wrap

7th March 2022 ENERGIES – The price gyrations in oil, gas and coal have been spectacular and eye-watering. Coal has been the biggest winner in the European Union (EU) energy complex by far. But this is very much a spot crisis, as curves remain steeply backwardated. With most distressed buyers having already... 

A table showing the latest spot market prices for various commodities

Rio Tinto reaches settlement with ASIC over Moz coal disclosures

By: Tasneem Bulbulia     7th March 2022 Anglo-Australian multinational Rio Tinto has reached a settlement with the Australian Securities and Investment Commission (ASIC) regarding the disclosure of the impairment of Rio Tinto Coal Mozambique (RTCM), which was reflected in Rio Tinto’s 2012 year-end accounts. As part of this... 

An image of Rio Tinto Coal Mozambique operations
Rio Tinto Coal Mozambique

Commitment to green economy is crucial, says ARM’s Patrice Motsepe 

By: Martin Creamer     7th March 2022 Diversified mining company African Rainbow Minerals (ARM) has reiterated its commitment to transitioning from coal to renewable energy, with its executive chairperson Patrice Motsepe describing the global commitment to the green economy as being not only important but crucial. Motsepe was... 

Creamer Media photograph
Photo by Creamer Media
African Rainbow Minerals executive chairperson Patrice Motsepe.

Transnet bottlenecks to hamper South Africa's export opportunities amid Russia sanctions  

By: Darren Parker     4th March 2022 The bottlenecks in South Africa’s export corridors – caused in large part by State-owned logistics company Transnet’s inability to provide sufficient capacity – will likely undermine any opportunities that could arise from commodity supply shortages and higher prices as more sanctions are... 

A Transnet train

Decarbonisation standing out as key metals/mining value driver – Wood Mackenzie  

By: Martin Creamer     4th March 2022 As pressure mounts for the world to align meaningfully with the 1.5 °C global temperature rise scenario, decarbonisation is standing out as a key driver of metals and mining value. “This has strengthened our view that the mining industry now has a clear pathway towards long-term transformative... 

Creamer Media screenshot taken during webinar.
Wood Mackenzie future facing mined commodities forum covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Europe returns to South Africa for coal after Russia sanctions 

By: Bloomberg     4th March 2022 Europe’s surging demand for coal is reviving an infrequent trade lane for shipments from South African mines. The fossil fuel typically heads east from Richards Bay Coal Terminal, the continent’s biggest export hub. Of the 59-million tons of coal shipped from the South African port last year,... 

The Richards Bay Coal Terminal
The Richards Bay Coal Terminal

Buffalo in talks to restructure Investec loan

By: Marleny Arnoldi     4th March 2022 TSX- and JSE-listed Buffalo Coal Corporation’s subsidiary has advised it is negotiating with Investec Bank to restructure a remaining outstanding loan amount. Investec initially agreed to defer the final maturity date of the remaining R46-million owed on the loan to February 28, before being... 

Buffalo Coal's Aviemore project
Buffalo Coal's Aviemore project

Mining companies may pause growth plans amid Ukraine war, inflation

By: Reuters     4th March 2022 Flush with cash after bumper earnings, mining companies straddle a delicate balancing act as they benefit from soaring commodity prices amid the Ukraine-Russia crisis but also potentially face high inflation that could hit short-term demand and slow down growth plans, analysts said. The world's... 

Mining companies may pause growth plans amid Ukraine war, inflation

Broadmeadow East a step closer to development

By: Esmarie Iannucci     4th March 2022 Coal developer Bowen Coking Coal is one step closer to first production after the Queensland government approved an amendment to the Broadmeadow East project’s existing Environmental Authority. Alongside the existing, granted Mining Lease, this is the final approval required in order to start... 

Coal leading Australian resource exports - ABS

By: Esmarie Iannucci     4th March 2022 The latest trade data from the Australian Bureau of Statistics (ABS) has shown that coal continued to lead the surge in Australia’s export earnings for January. The ABS’ International Trade in Goods and Services data for January 2022 shows total resources and energy exports were worth... 

Image shows a coal loader at port

Filter press installation nearing completion

By: Halima Frost     4th March 2022 Local anthracite producer Zululand Anthracite Colliery (ZAC) is installing a filter press at its coal washing plant, in Emakhalathini, KwaZulu-Natal. The filter press will remove slurry from the water used in the coal washing process and prevent incidents such as the 1 500 m3 coal slurry spill,... 

Three slurry dams next to each other at the Zululand Anthracite Colliery owned by Menar that shows an embankment and berm which were constructed hours after a wall failure
DAMAGE CONTROL The spill area at the Zululand Anthracite Colliery was sealed off with an earth embankment and a berm

ARM well-positioned to capitalise on improving fundamentals

By: Tasneem Bulbulia     3rd March 2022 JSE-listed African Rainbow Minerals (ARM) recorded a mixed set of results across its operations for the six months ended December 31, 2021, with headline earnings for the period having decreased by 27% year-on-year to R3.70-billion or R18.87 apiece. An interim dividend of R12 apiece has been... 

Exxaro posts R9.7bn net operating profit for 2021, despite rail issues  

By: Marleny Arnoldi     3rd March 2022 JSE-listed diversified resources group Exxaro Resources has declared a total ordinary dividend for the 2021 financial year of R32.52 apiece, up 72% compared with the prior year. Outgoing CEO Mxolisi Mgojo attributes the group’s solid performance to a committed delivery of strategic priorities... 

Exxaro outgoing CEO Mxolisi Mgojo, incoming CEO Nombasa Tsengwa and FD Riaan Koppeschaar
Exxaro Resources' executive team talks rail challenges, diversification and the incoming CEO

QRC urges New Acland approval as coal prices soar

By: Esmarie Iannucci     3rd March 2022 The Queensland Resources Council (QRC) has called on the Queensland government to finalise approvals for the New Acland Stage 3 project, as coal prices spike amid the Russia-Ukraine crisis. “The world, especially Europe, needs Queensland’s high-quality commodities now more than ever,” QRC CEO... 

Stanmore raises cash for BMC buy

By: Esmarie Iannucci     3rd March 2022 Coal miner Stanmore Coal on Thursday unveiled a A$694.1-million capital raise initiative, and a $120-million finance facility to fund its purchase of an 80% interest in the BMC metallurgical coal joint venture (JV) in Queensland from major BHP. Under the agreement, Stanmore would acquire 100% of... 

Image shows Australian currency

US official says South Africa aid aimed at coal plants not EVs

By: Bloomberg     3rd March 2022 A group of the world’s richest nations that pledged $8.5-billion in climate finance to South Africa wants the money to be used to retire coal-fired power plants, according to a senior US official involved in the talks, damping suggestions some could be channelled to producing electric vehicles... 

Eskom's Duvha power station
Photo by Bloomberg
Eskom's Duvha power station

ESG slowing down as energy transition highlights mining as indispensable – RMF  

By: Martin Creamer     2nd March 2022 The energy transition is highlighting mining as an indispensable industry, said Responsible Mining Foundation (RMF) CEO Hélène Piaget in opening a webinar on 'Responsible Mining Index (RMI) Report 2022', which reports a slowdown in economic, environmental, social and governance (ESG). “Yet there... 

Creamer Media screenshot.
Responsible Mining Foundation report covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China shunning Russian coal with banks nervous over sanctions

By: Bloomberg     2nd March 2022 Chinese power plants and steelmakers are looking for alternatives to Russian coal after some domestic banks suggested they avoid purchases due to the mounting sanctions being imposed on Moscow. Some state-own firms were sent private client notes by the lenders advising them to halt buying... 

China shunning Russian coal with banks nervous over sanctions

US coal major Peabody diversifies into renewable energy

By: Creamer Media Reporter      1st March 2022 US coal miner Peabody on Tuesday announced the launch of R3 Renewables, a renewable energy development company that would pursue the development of more than 3.3 GW of solar photovoltaic and 1.6 GW of battery storage capacity over the next five years. R3 Renewables is a joint venture with... 

US coal major Peabody diversifies into renewable energy

Zimbabwe platinum miner granted licence to generate 185 MW of solar power 

By: Martin Creamer     1st March 2022 Zimbabwe platinum group metals mining company Zimplats has been granted a licence to generate 185 MW of its own solar power. Zimplats is already totally green through the use of hydropower and the solar power will enhance the position of the expanding company and provide security of electricity... 

Picture supplied
Implats executive sustainable development Dr Tsakani Mthombeni

MC Mining pays final instalment for acquisition of Makhado

By: Darren Parker     1st March 2022 JSE-listed coal mining company MC Mining subsidiary Baobab Mining & Exploration has paid the final instalment of R35-million to the Lukin and Salaita property owners to secure the purchase of key surface rights for the Makhado hard coking coal project, in Limpopo. MC Mining on January 11... 

Implats allays fears that Russia/Ukraine conflict may impact PGMs supply  

By: Martin Creamer     1st March 2022 Given the prominence of Russia as a platinum group metals (PGMs) producer, there are fears that it may potentially have an impact on global PGMs supply, Implats CEO Nico Muller said on Tuesday, when the JSE-listed company delivered robust earnings and free cash flow generation for its half year... 

Creamer Media screenshot.
Implats half-year presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mantashe wants to ‘refocus’ just energy transition debate as DMRE moves to finalise own policy  

By: Terence Creamer     1st March 2022 Mineral Resources and Energy Minister Gwede Mantashe indicated on Tuesday that his department will seek to “refocus” South Africa’s just energy transition debate as it prepares to finalise its policy on the matter. In an address to the Africa Energy Indaba on Tuesday, Mantashe indicated that the... 

Mineral Resources and Energy Minister Gwede Mantashe
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Tsengwa to take over as CEO of Exxaro in August

By: Creamer Media Reporter      1st March 2022 Dr Nombasa Tsengwa will take up the position of CEO of diversified natural resources company Exxaro Resources from August 1, 2022. When named CEO-designate in March 2021, she was expected to take up the position only from May 31, 2023, but that date has now been brought forward. 

Dr Nombasa Tsengwa
Photo by Creamer Media
Dr Nombasa Tsengwa

Ramaite to serve as Wescoal CEO for two-year term

By: Darren Parker     1st March 2022 JSE-listed Wescoal’s board has appointed interim group CEO Robinson Ramaite as the permanent CEO, for a two-year term starting on April 1. The coal miner on March 1 said the appointment would allow for a managed transition as Wescoal moves from a pure coal mining and trading company into a... 

A photo of Wescoal interim group CEO Robinson Ramaite
Wescoal interim group CEO Robinson Ramaite will become permanent for two years starting in April
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