R/€ = 19.8451 Change: -0.0139
R/$ = 18.1643 Change: -0.1391
Au 1979.61 $/oz Change: 9.79
Pt 985.30 $/oz Change: 12.88

Coal News

Transnet to issue locomotive rehabilitation tender as it reaches impasse with CRRC

By: Tasneem Bulbulia     12th January 2023 State-owned Transnet says it has reached an impasse with CRRC E-Loco Supply, following an "unwillingness" on the part of CRRC to engage with the relevant authorities in South Africa to normalise its operations in the country. Therefore, Transnet says that, as a matter of urgency, it will be... 

Platinum-boosting clean hydrogen projects, patents are all the rage 

By: Martin Creamer     11th January 2023 The implementation agreement for Namibia’s planned multibillion-dollar Hyphen Hydrogen Energy project is scheduled to commence in the first quarter of this year, Namibia President Hage Geingob revealed in his 2023 New Year’s message. Egypt has granted approval for two green hydrogen projects in... 

Clean hydrogen patent innovation is all the rage, say IEA and EPO.
Clean hydrogen patent innovation is all the rage, say IEA and EPO.

Teck’s Q4 coal sales miss guidance

By: Mariaan Webb     11th January 2023 Diversified miner Teck Resources has missed its fourth-quarter steelmaking coal guidance of 5-million to 5.4-million tonnes, citing extreme weather in December. The mining company on Tuesday reported fourth-quarter steelmaking coal sales of 4.3-million tonnes and explained that cold weather... 

US coal prices plunge 45% as warm winter weather stifles demand

By: Bloomberg     10th January 2023 US coal prices plunged from record highs as warm winter conditions eased demand for the dirtiest fossil fuel. Coal from the Northern Appalachia region slumped to $115 a ton for the week ending January 6, down 45% from the prior week, according to government figures released Monday. Spot prices... 

US coal prices plunge 45% as warm winter weather stifles demand

Energy department to oversee Eskom

By: Bloomberg     9th January 2023 President Cyril Ramaphosa said the energy department will take over responsibility for overseeing state utility Eskom Holdings, which has been failing to meet the nation’s power demand since 2008. The change will be in line with a resolution adopted by the governing African National Congress at... 

Big investors ask Glencore to justify thermal coal development

By: Reuters     5th January 2023 International investors with $2.2-trillion in assets will ask commodity giant Glencore to show how its development of thermal coal mines meets the goals of the Paris climate accord to keep global warming to 1.5 degrees. Glencore is one of the world's largest producers and traders of the fossil... 

Big investors ask Glencore to justify thermal coal development

PIC lifts stake in Afrimat to 15.48%

By: Donna Slater     21st December 2022 The Public Investment Corporation (PIC) has increased its shareholding in JSE-listed industrial minerals, bulk commodities and construction materials miner Afrimat to 15.48%. The Afrimat group supplies a range of products ranging from construction materials including aggregates, bricks, blocks,... 

MC Mining extends Uitkomst sales contract

By: Esmarie Iannucci     21st December 2022 Coal miner MC Mining has extended its coal sales and marketing agreement between its subsidiary Uitkomst Colliery Proprietary and Overlooked by six months. The marketing agreement was due to expire at the end of December but has now been extended until the end of June. 

High US power prices risk squeezing coal plants in grid auction

By: Bloomberg     20th December 2022 Turbulent global energy markets are threatening to depress bids in a key auction on the largest US grid, potentially squeezing aging coal plants. Shortages of natural gas and coal have pushed up wholesale power prices on the grid stretching from New Jersey to Illinois to their highest in more... 

Teck sells shuttered Quintette coal mine

By: Creamer Media Reporter      20th December 2022 TSX- and NYSE-listed Teck Resources will sell the assets and liabilities of the Quintette steelmaking coal mine, in north-eastern British Columbia, to a subsidiary of Conuma Resources for $120-million in cash. The consideration will be paid in stages over the next 36 months and the transaction is... 

Minerals Council, Transnet to establish joint structures to improve rail, ports performance 

By: Marleny Arnoldi     19th December 2022 State-owned freight utility Transnet and the Minerals Council South Africa have agreed to form joint collaborative structures to ensure all possible actions are taken to stabilise and improve the throughput of South Africa’s rail and ports systems. Transnet recognises the integrated nature of the... 

The Port of Saldanha Bay
The Port of Saldanha Bay

Australian resource exports surge as project pipeline grows

By: Esmarie Iannucci     19th December 2022 Australian resources and energy exports will earn a record A$459-billion in 2022–23, before easing to A$391 billion in 2023–24, new data from the Department of Industry, Science and Resources shows. The latest Resources and Energy Quarterly publication forecasts combined export earnings for... 

Image shows loading operations at Port Hedland

Aurizon sells ECR coal rail

By: Esmarie Iannucci     16th December 2022 Freight operator Aurizon has struck an agreement with Magnetic Rail Group to divest of the East Coast Rial (ECR) business for A$425-million in cash. ECR is the coal haulage business with operations in New South Wales and Queensland, which Aurizon acquired as part of its acquisition of One Rail... 

MCA blasts windfall tax proposal

By: Esmarie Iannucci     16th December 2022 The Minerals Council of Australia (MCA) has lashed out at a report by think tank The Australia Institute, which advocated for a windfall profits tax on coal and gas. The report stated that Australian coal export revenue reached A$112-billion in 2021-22, up from the A$73-biliion reported in the... 

Image shows loader and coal heaps

AUSMESA to focus on mining skills

By: Esmarie Iannucci     16th December 2022 The Australian Minerals and Energy Skills Alliance (AUSMESA) is looking at ways to relieve labour shortages in the mining and resources sector as one of its first priorities. AUMESA was announced earlier this week as part of the federal government’s A$402-million investment over the next four... 

Expansion project on track

By: Nadine Ramdass     16th December 2022 Investment company Menar’s Zululand Anthracite Colliery (ZAC) expansion project is in the shaft development phase and first coal is expected by April 2023. The project will increase production at the colliery, in Emakhalathini, about 100 km from Richards Bay, in KwaZulu-Natal. 

An aearial image of Menar's Zululand Anthracite Colliery
ZULULAND ANTHRACITE COLLIERY The colliery's superior quality places it as a favoured supplier

Greenfield project deemed feasible

By: Nadine Ramdass     16th December 2022 Coal exploration and mining company Canyon Coal’s greenfield Gugulethu project – located south-east of Hendrina, in Mpumalanga – forms part of the miner’s expansion objectives to become a larger player in the sector. Initially delayed by Covid-19’s impact on coal prices, Canyon Coal reassessed... 

An image of a excavator for Menar
DIGGING IN The Gugulethu project will use underground and opencast mining methods

Projects move miner towards sustainability

16th December 2022 Mining company Exxaro’s “Mega Projects” are geared toward ensuring sustainability through initiatives dedicated to incorporating diverse stakeholder perspectives, strengthening its existing human resources and upgrading existing sites to be more modern and efficient. Exxaro’s Mega Projects... 

An image of Exxaro's Grootgeluk's processing plant
Photo by Donna Slater
GROOTEGELUK PPROCESSING PLANT The double-stage beneficiation plant will expand Grootegeluk’s capacity by 7%, or 1.7-million tons a year.

Gordhan describes Mantashe’s comments as ‘unfair and uncalled for’ as he praises outgoing Eskom CEO 

By: Terence Creamer     15th December 2022 Public Enterprises Minister Pravin Gordhan responded with an “emphatic no” to a question as to whether government considered outgoing Eskom CEO André de Ruyter to be a traitor, as implied in a recent statement by Mineral Resources and Energy Minister Gwede Mantashe, who said “Eskom, by not... 

Public Enterprises Minister Pravin Gordhan
Photo by Creamer Media Chief Photographer Donna Slater
Public Enterprises Minister Pravin Gordhan

Colombia mining exports forecast to hit all-time high in 2022 - industry group

By: Reuters     15th December 2022 Exports by Colombia's mining sector in 2022 are expected to hit an all-time high, the Colombian Mining Association (ACM) said on Wednesday, driven by higher commodity prices, particularly coal. While the ACM expects Colombia's coal output to hit 65.3-million tonnes this year, up around 10% on... 

R387m bonanza for Thungela employees

By: Martin Creamer     14th December 2022 More than 3 500 employees will this month benefit from the first R387-million empowerment scheme payout of the high-flying Johannesburg- and London-listed Thungela mining company. The Sisonke employee empowerment scheme’s first disbursement is based on the dividends declared for the 2021... 

From left to right are beneficiary trustee Ishmael Zuliyani, employer trustee Masechaba Makgolane, chairperson Paulos Soviya, employer trustee Kimm Matsose, Thungela human resources head Lesego Mataboge and beneficiary trustee Bongani Mahungela.
From left to right are beneficiary trustee Ishmael Zuliyani, employer trustee Masechaba Makgolane, chairperson Paulos Soviya, employer trustee Kimm Matsose, Thungela human resources head Lesego Mataboge and beneficiary trustee Bongani Mahungela.

Energy Regulator postpones Eskom tariff decision as Christmas Eve deadline looms  

By: Terence Creamer     14th December 2022 The Energy Regulator has postponed deciding on Eskom’s tariffs for 2023/24 and 2024/25 after the Electricity Subcommittee (ELS) of the National Energy Regulator of South Africa (Nersa) requested more time to finalise its recommendation – this only ten days out from a looming December 24 deadline... 

Nersa held public hearings into Eskom's MYPD5 application in September
Photo by Creamer Media
Nersa held public hearings into Eskom's MYPD5 application in September

Creditor believes Optimum should have already emerged from business rescue

By: Darren Parker     14th December 2022 The head of the creditors committee for beleaguered Optimum Coal Mine (OCM), Jaco van der Westhuizen, has alleged that the strategic intent of the mine’s multiple business rescue practitioners (BRPs) and mini-pit contractors is to “sterilise” the mine, stripping it of all its value, while buying... 

Creditor believes Optimum should have already emerged from business rescue

High Court orders DMRE to release records of decision to include new coal power in IRP 2019

By: Schalk Burger     13th December 2022 In an early victory for CancelCoal applicants, the Pretoria High Court on December 12 ordered Mineral Resources and Energy Minister Gwede Mantashe to release records relating to the decision to include new coal-fired power in the 2019 Integrated Resource Plan (IRP), and to the 2020 Ministerial... 

South Africa's mining production down 10.4% y/y in Oct

By: Creamer Media Reporter      13th December 2022 South Africa's mining output decreased by 10.4% year-on-year in October, with platinum-group metals (PGMs), gold, diamonds and manganese ore having made the biggest negative contribution. Financial services provider Nedbank's economics unit pointed out that this marked the ninth consecutive month... 

Teck’s new CEO looks to tap cash from coal to fuel copper expansion

By: Bloomberg     13th December 2022 Teck Resources' new chief aims to leverage his company’s booming coal business to get bigger in copper and become a “significant” miner of the metal behind the global energy transition. “We’re so focused on copper just because of the critical role that the metal is going to play in... 

Teck Resources' Elkview operations, in British Columbia, Canada.
Teck Resources' Elkview operations, in British Columbia, Canada.

Banks are finding loopholes to keep financing coal, study shows

By: Reuters     12th December 2022 European banks are finding ways to continue financing coal, despite signing up to climate alliances that target net-zero emissions, according to a study by nonprofit ShareAction. A survey of 25 European banks revealed that the industry is also underreporting its support of high-carbon sectors in... 

Banks are finding loopholes to keep financing coal, study shows

Higher output could boost Coal India's spot sales, chairman says

By: Reuters     12th December 2022 Coal India will increase spot auctions of the fuel in the coming months, the chairman of the world's biggest coal miner said on Monday, as the company's rising output has left them with enough fuel to meet increasing demand from non-utility power plants. An increase in spot auction sales, which... 

Salungano performance impacted by late Vanggatfontein restart

By: Tasneem Bulbulia     9th December 2022 JSE-listed Salungano Group, formerly Wescoal, has reported lower-than-expected interim results for the six months ended September 30, owing to the Vanggatfontein restart starting later than anticipated and other operational challenges. The group’s revenue decreased from R2.67-billion to... 

Mpumalanga renewables study highlights importance of TVETs for value chains

By: Schalk Burger     9th December 2022 A co-benefits study undertaken by industrial research body the Council for Scientific and Industrial Research (CSIR) has shown that technical and vocational education and training (TVET) colleges can play a central role in supporting the transition of Mpumalanga's economy to renewable energy from... 

World’s rapid rate of change resulting in profound business disruptions, says Anglo CEO  

By: Martin Creamer     9th December 2022 The world changing at a rapid rate has resulted in profound disruptions to the business of Anglo American, CEO Duncan Wanblad told analysts and investors on Friday. Speaking during an update presentation covered by Mining Weekly, Wanblad said the London- and Johannesburg-listed diversified mining... 

Anglo American CEO Duncan Wanblad.
Anglo investor update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Australian govt caps gas and coal prices

By: Esmarie Iannucci     9th December 2022 The federal government on Friday announced a temporary cap on both gas and coal prices as part of its Energy Price Relief Plan. Prime Minister Anthony Albanese said the urgent action being taken by the federal government, in partnership with state and territory governments, would shield... 

Image shows loader with coal heaps

Organised business urges govt to fund Eskom diesel 

By: Terence Creamer     9th December 2022 Organised business has called on government to fund adequate and reliable diesel supply for the country’s national peaking generators, which it describes as critical to ensuring that Eskom can best manage a stable grid and mitigate a further escalation in loadshedding levels. In a joint business... 

The Ankerlig OCGT plant
The Ankerlig OCGT plant

Extortion ‘mafia’ hits South Africa’s $55bn mining sector

By: Bloomberg     9th December 2022 A threatening letter, a derailed train, blocked roads, burned vehicles, workers locked up. That’s what some of the world’s biggest mining companies say they’re battling in South Africa: Extortion. Covid plunged Africa’s most-industrialized country – home to the biggest deposits of metals ranging... 

A machine on site at a mining operation

Thungela achieves strong cash generation despite rail constraints

By: Tasneem Bulbulia     8th December 2022 JSE-listed Thungela Resources has continued to deliver strong earnings and cash generation for the period from January 1 to November 30 and expects to achieve another strong set of financial results for the year ending December 31, the company notes in a CFO’s pre-close and trading statement for... 

Thungela achieves strong cash generation despite rail constraints

Glencore in position to double copper output using fossil fuel cash flows 

By: Martin Creamer     8th December 2022 Diversified mining and marketing company Glencore will halve the production of its fossil fuel business between now and 2035 and in that time use the cash flows from that fossil business to double production of its copper business. “So, a very neat and tidy use of our fossil fuels, firstly to... 

Glencore CEO Gary Nagle.
Glencore CEO Gary Nagle.

Glencore working on value accretive emission reduction 

By: Martin Creamer     8th December 2022 Over and above the carbon emission reduction that automatically results from declining coal assets, diversified mining and marketing company Glencore is working on reducing its Scope 1 and 2 emissions across its entire portfolio of assets in a manner that is largely value accretive or cost free.... 

Glencore industrial assets head Peter Freyberg.
Glencore industrial assets head Peter Freyberg.
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