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Coal News

Minerals Council welcomes task team to assess challenges at Eskom power stations

By: African News Agency      5th March 2019 The Minerals Council South Africa on Tuesday applauded the establishment of an engineering task team to assess challenges at state utility Eskom’s power stations. Cash strapped Eskom has struggled to meet electricity demand and was forced for several days last month to implement rolling blackouts... 

Poplar Grove ramping up

By: Esmarie Iannucci     5th March 2019 Coal production at the Poplar Grove mine, in Kentucky, is ramping up on the back of higher productivity, and continuous underground mining operations, owner Paringa Resources said on Tuesday. First delivery of processed coal to customer LG&E is targeted for the second half of March. 

Toxins found near almost all coal ash ponds tracked by industry

By: Bloomberg     4th March 2019 Environmental watchdogs say the power industry’s own data show widespread groundwater contamination near sites storing coal ash, a toxic byproduct of burning coal to generate electricity. Groundwater monitoring wells near coal ash storage sites used by 265 coal power plants reveal unsafe levels... 

S&P revises Eskom outlook to stable in wake of govt’s R23bn-a-year pledge 

By: Terence Creamer     1st March 2019 Credit ratings agency S&P Global Ratings has revised its outlook on Eskom to stable from negative, following Finance Minister Tito Mboweni’s announcement of R23-billion a year of additional funding to the debt-laden State-owned electricity utility. The ratings agency affirmed its 'CCC+' and 'zaB'... 

S&P revises Eskom outlook to stable in wake of govt’s R23bn-a-year pledge

Glencore cites trade as its 'foremost risk', others rising

By: Reuters     1st March 2019 Miner and trader Glencore said trade barriers are its "foremost risk", but climate, political, legal and other risks had become more prominent. Glencore, said in its annual report published on Friday that it was seeking to mitigate these challenges through conservative spending and strict... 

ARM’s H1 headline earnings up 13% y/y 

By: Marleny Arnoldi     1st March 2019 Diversified miner African Rainbow Minerals (ARM) achieved a 13% increase in headline earning to R2.2-billion for the six months ended December 31, 2018, compared with R1.9-billion in the six months ended December 31, 2017. The company, which is led by chairperson Patrice Motsepe and CEO Mike... 

ARM’s H1 headline earnings up 13% y/y
Photo by Creamer Media
ARM chairperson Patrice Motsepe

Hancock’s bid for Atrum neighbour excites the market

By: Esmarie Iannucci     1st March 2019 The share price of coal developer Atrum Coal remained high on Friday, following Hancock Prospecting’s A$740-million takeover offer for Atrum’s unlisted neighbour, Riversdale Resources earlier this week. Hancock Prospecting has announced an A$2.20 a share all cash offer for the unlisted... 

Aspire's OEDP delivers promising start

By: Esmarie Iannucci     1st March 2019 A prefeasibility study (PFS) on the Ovoot early development project (OEDP), in Mongolia, has delivered a robust financial outcome, ASX-listed Aspire Mining reported this week. The OEDP is expected to deliver four-million tonnes a year of washed saleable coal over an initial 9.2-year period, from... 

Auctions an efficient way to generate cash, reduce costs

By: Nadine James     1st March 2019 The term mining auction refers to a range of disposals in the mining sector, including the disposal of scrap and/or surplus yellow equipment, assets from business rescue and/or liquidation, and the disposal of mining concessions, explains Hogan Lovells partner Nicholas Veltman. The primary... 

Auctions an efficient way to generate cash, reduce costs

4IR: Mining companies need to make a wilful change

By: Mamaili Mamaila     1st March 2019 Following President Cyril Ramaphosa’s speech regarding the Fourth Industrial Revolution (4IR) at this year’s Investing in African Mining Indaba, mining companies made it clear that there will be some change in the near future as people start believing in practical impact of digitalisation and... 

4IR: Mining  companies need to make a wilful change
EDUARD VORSTER Focusing outside of mining per se is becoming so much more important – to bring transformation, so that playground so that the mine is a catalyst for a macro economy

Wescoal to acquire 50% interest in Arnot

By: Martin Creamer     28th February 2019 Coal mining and marketing company Wescoal said on Thursday that it would be acquiring the assets, liabilities and employees of the Arnot coal mine in Mpumulanga from Exxaro, in partnership with Innovators Resources, the shareholders of which are previous Exxaro employees retrenched during the... 

Ncondezi inches closer to concluding Tete JDA

By: Nadine James     28th February 2019 Aim-listed Ncondezi Energy on Thursday announced that the process to conclude a binding joint development agreement (JDA) for its 300 MW integrated power and coal mine project, in Tete, Mozambique, is “moving forward.” The JDA will formally set out the terms on which the project will be... 

SCCL likely to secure second coal block outside its hinterland

By: Ajoy K Das     28th February 2019 India’s Singareni Collieries Company Limited’s (SCCL’s) bid to expand its mining footprint beyond the southern region received a boost with news from the Coal Ministry that it may be allocated a new coal block in Odisha in the east. Sources say that the miner has received “unofficial verbal... 

More meetings with labour planned on Eskom 

By: African News Agency      28th February 2019 The special Cabinet committee on Eskom will hold more meetings with organised labour to discuss the contentious restructuring of the struggling power utility into three units, according to a statement issued on Thursday. "The meeting with labour reported on the problems with Eskom’s operations... 

More meetings with labour planned on Eskom

Former Glencore CEO 'devastated' by Molefe's about-face on coal deal

By: News24Wire      28th February 2019 Former Glencore chief executive Clinton Ephron has told the Zondo commission into state capture that he was devastated when former Eskom CEO Brian Molefe told him Eskom would not be updating the company’s contract with the power supplier. Ephron took to the stand on Wednesday and was widely... 

Energy Regulator to announce Eskom tariff decision on March 7 

By: Terence Creamer     27th February 2019 The National Energy Regulator of South Africa (Nersa) will announce its decision on Eskom’s fourth multiyear price determination (MYPD4) application, as well as the State-owned utility's 2017/18 regulatory clearing account (RCA) submission on Thursday March 7. The determination will be released... 

Energy Regulator to announce Eskom tariff decision on March 7
Photo by Creamer Media's Dylan Slater
Nersa panel members listen to presentations during recent public hearings into Eskom's revenue application

Eskom employees were pressured to sign R4.3bn contract with Tegeta, Zondo inquiry hears

By: African News Agency      26th February 2019 Evidence leader at the Zondo Inquiry, Advocate Kate Hofmeyr, on Tuesday gave an overview of the evidence of corruption in Eskom's coal supply contract with Gupta family businesses that was going to be presented by a new witness. Daniel Mashigo, acting senior general manager for primary energy... 

Eskom employees were pressured to sign R4.3bn contract with Tegeta, Zondo inquiry hears

Yancoal posts big profit jump in ‘extraordinary’ year of growth

By: Esmarie Iannucci     26th February 2019 Record production has seen coal miner Yancoal nearly double its revenue and earnings before interest, tax, depreciation and amortisation (Ebitda) for the year ended December, compared with the previous corresponding period. Revenue from operations in the full year reached A$4.85-billion,... 

Yancoal posts big profit jump in ‘extraordinary’ year of growth

Sasol to accelerate portfolio ‘simplification’ as review of 100 assets nears completion  

By: Terence Creamer     25th February 2019 Chemicals and energy group Sasol confirmed on Monday that its asset review was at an advanced stage and indicated that it would, in the coming months, accelerate efforts to simplify its portfolio. The group has indicated previously that it expects to realise more than $1-billion from the disposal... 

Sasol to accelerate portfolio ‘simplification’ as review of 100 assets nears completion
Sasol joint CEO Bongani Nqwababa on why 2019 is a 'defining year' for the group. Camera Work & Editing: Darlene Creamer. Recorded: 25.2.2019

CIL coal washery project delays attract Coal Ministry flak

By: Ajoy K Das     25th February 2019 tate-run Coal India Limited’s (CIL’s) ambitious plans of ramping up coal washing capacity has been hit by time overruns. The delays in operationalising various coal washery projects has attracted criticism from the Coal Ministry at a recently held review meeting, during which the Coal Secretary... 

Radebe says South Africa has no intention of renegotiating renewables PPAs

By: Terence Creamer     24th February 2019 Energy Minister Jeff Radebe says government has no intention of renegotiating the power purchase agreements (PPAs) for renewable-energy projects procured in 2011 and 2012, but has left the door open for a “refinancing” of the projects in the interest of lowering the cost of the plants to the... 

Radebe says South Africa has no intention of renegotiating renewables PPAs
Photo by Creamer Media
Energy Minister Jeff Radebe

Gloria coal mine death toll rises to 18

By: African News Agency      22nd February 2019 Rescue and body retrieval workers on Friday afternoon brought to the surface 13 more bodies of suspected copper cable thieves from the underground area at Gloria coal mine near Middelburg in Mpumalanga, provincial police spokesman Brigadier Leonard Hlathi said. “The workers could not continue... 

Eskom was the 'main stage in the theatre of corruption', says Mabuza 

By: African News Agency      22nd February 2019 Eskom chairperson Jabu Mabuza told the Zondo Inquiry on Friday that the current board of directors discovered that the power utility was "the main stage in the theatre of corruption" when it was appointed in January 2018. Asked by evidence leader Vincent Maleka to detail the state of affairs when... 

Eskom was the 'main stage in the theatre of corruption', says Mabuza
Photo by Creamer Media
Eskom chairperson Jabu Mabuza

Transnet sets up war room to combat infrastructure-theft surge and line sabotage 

By: Terence Creamer     22nd February 2019 Transnet Freight Rail (TFR) has set up a war room together with the South Africa Police Service (SAPS) in a bid to deal with a surge in infrastructure theft, as well as recent acts of sabotage and vandalism on its key coal corridor from Ermelo, in Mpumalanga, to Richards Bay, in KwaZulu-Natal. On... 

Transnet sets up war room to combat infrastructure-theft surge and line sabotage

Wescoal appoints new CEO, reconstitutes board 

By: Creamer Media Reporter      22nd February 2019 JSE-listed Wescoal has appointed Reginald (Reg) Lavhelesani Demana, a mining and resources specialist, CEO, effective April 1. He will take over from interim CEO Dr Humphrey Mathe, who took over the position following former CEO Waheed Sulaiman's resignation in January. 

Wescoal appoints new CEO, reconstitutes board
Incoming Wescoal CEO Reg Demana

Australia Minister denies report of China coal ban

By: Esmarie Iannucci     22nd February 2019 The Australian government has moved to allay shareholder fears after the share prices of Australian coal miners tumbled on news that China’s northern port of Dalian had banned coal imports from Australia, and placed an overall cap of 12-million tonnes for coal imports during 2019. Trade,... 

Australia Minister denies report of China coal ban

Australia nailing its colours to coal mast, despite call to halt its use for power generation by 2050

By: Esmarie Iannucci     22nd February 2019 Amid rising electricity costs and flailing power supplies across the East Coast of Australia, the country’s government is standing firm on its decision to keep coal as one of its main sources of electricity generation. Australia’s East Coast is facing a plethora of electricity issues, with... 

Australia nailing its colours to coal mast, despite call to halt its use for power generation by 2050

Australia nailing its colours to coal mast, despite call to halt its use for power generation by 2050

By: Esmarie Iannucci     22nd February 2019 Amid rising electricity costs and flailing power supplies across the East Coast of Australia, the country’s government is standing firm on its decision to keep coal as one of its main sources of electricity generation. Australia’s East Coast is facing a plethora of electricity issues, with... 

Australia nailing its colours to coal mast, despite call to halt its use for power generation by 2050

Inclusion of strategic partner in grid company ‘not privatisation’ 

By: Terence Creamer     21st February 2019 Finance Minister Tito Mboweni insists that the inclusion of a strategic equity partner in the national grid company to be formed in mid-2019 as a result of the unbundling of Eskom into three separate State-owned entities does not amount to privatisation. The proposal is, nevertheless, likely to... 

Inclusion of strategic partner in grid company ‘not privatisation’

India's Adani could win Carmichael mine approval within 2 years - Queensland resources official

By: Reuters     21st February 2019 India's Adani Enterprises could theoretically win environmental approval for construction of the Carmichael coal mine in Australia in the next two years, a Queensland state resources official said, despite opposition from activists concerned about its impact on the Great Barrier Reef. The firm,... 

Coal capped at 150 Mt/y – Glencore 

By: Martin Creamer     20th February 2019 Diversified mining and marketing company Glencore has capped its coal capacity at 150-million tonnes of coal a year, a figure that it is close to and which it will not exceed. The company has been working on the cap with its investors since 2016 in the interests of the transitioning to a low... 

Coal capped at 150 Mt/y – Glencore
Photo by Glencore
Glencore is using wind turbine generated energy in Canada and Australia

Another fuel levy increase lies ahead, carbon tax to be implemented 

By: Simone Liedtke     20th February 2019 A carbon tax on fuel of 9c/l on petrol and 10c/l on diesel will become effective from June 5, Finance Minister Tito Mboweni said on Wednesday. Further, the general fuel levy will increase by 15c/l for petrol and diesel from April 3, while the Road Accident Fund (RAF) levy will be increased by... 

R69bn in support for Eskom made conditional on restructuring 

By: Terence Creamer     20th February 2019 Finance Minister Tito Mboweni has turned down a proposal for R100-billion of Eskom’s debt to be transferred across to the National Treasury, but has instead announced R23-billion a year in financial assistance for the debt-laden utility that is directly tied to a restructuring of the business.... 

R69bn in support for Eskom made conditional on restructuring
Photo by Bloomberg
Finance Minister Tito Mboweni

State-owned AEMFC awarded PCF bid to the tune of R1bn

By: Nadine James     20th February 2019 A consortium led by State-owned mining company African Exploration Mining and Finance Corporation (AEMFC) has been awarded the post-commencement funding (PCF) bid for Optimum Coal and its associated assets to the value of R1-billion.  PFC is finance granted to a company in business rescue and is... 

State-owned AEMFC awarded PCF bid to the tune of R1bn
From left to right are: Lurco Group COO and co-founder Aubrey Chauke; Lurco Group business development, marketing and capital raising head Lee Stokes; Lurco Group commercial head Richard MacDonald; Lurco Group consultant Errol Salkinder; Ukwazi MD Jaco Lotheringen; the BRP's lead lawyer Bouwer van Niekerk; Optimum BRP Chris Monyela; BRP officer Devon Brikkels; Lurco Group CEO and co-founder Ellington Nxumalo; Optimum senior BRP Juanito Damon; Optimum senior BRP Louis Kloppers; AEMFC legal counsel Nkhangweni Ndou; and Lurco Group legal counsel Khanyi Zungu

Glencore ups low carbon transition, limits coal output

By: Martin Creamer     20th February 2019 Diversified mining company Glencore said on Wednesday that it was furthering its commitment a low carbon transition, following engagement with the investor signatories of the Climate Action 100+ initiative. As one of the world’s largest diversified mining companies, Glencore sees itself as... 

Glencore ups low carbon transition, limits coal output
Glencore CEO Ivan Glasenberg

India puts private coal mining on the backburner

By: Ajoy K Das     19th February 2019 Opening up of the Indian coal sector for commercial mining by private miners has officially been put on the backburner. The move to open up commercial mining and auction off coal blocks to private miners for production without any end-use restrictions and a free pricing regime has been hanging... 

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem 

By: Terence Creamer     18th February 2019 Black business luminary Patrice Motsepe has labelled as “ridiculous” a recurring allegation that African Rainbow Energy & Power (AREP) is part of an unscrupulous plan to collapse Eskom and supplant the State-owned power utility with independent power producers (IPPs), in which the business would... 

Motsepe rejects Eskom conspiracy claims as ‘ridiculous’, but admits to ‘serious’ perception problem
Photo by Creamer Media
AREP chairperson Patrice Motsepe

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