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Coal News

Coal dispatch in India declines but thermal power plants have sufficient stocks amid economic slowdown

By: Ajoy K Das     27th February 2020 Despite a decline in coal supplies to the power sector by State-miner, Coal India Limited (CIL), during April 2019 to January 2020, no thermal power plant of India’s largest power producer, NTPC, is facing any shortage of dry fuel, indicating low demand for energy and overall economic slowdown.... 

FTC moves to block Peabody and Arch Coal JV

By: Mariaan Webb     26th February 2020 The Federal Trade Commission (FTC) on Wednesday filed an administrative complaint challenging a proposed joint venture (JV) between the two largest coal-mining companies in the US, on concerns that the transaction will eliminate competition. Through the transaction, announced in June 2019,... 

FTC moves to block Peabody and Arch Coal JV

R16.4bn allocated to cover SAA’s debt and debt costs 

By: Terence Creamer     26th February 2020 Finance Minister Tito Mboweni announced on Wednesday that R16.4-billion would be allocated to South African Airways over the medium term to “repay the airline’s guaranteed debt and to cover debt-service costs”. Speaking to lawmakers, Mboweni said the “SAA Sword of Damocles has now fallen on us”,... 

R16.4bn allocated to cover SAA’s debt and debt costs

Universal launches legal bid to stop TerraCom offer

By: Esmarie Iannucci     26th February 2020 Coal miner Universal Coal has launched proceedings in the High Court of Justice of England and Wales against an unsolicited bid by fellow-listed TerraCom. The litigation has been started to allow Universal Coal’s bid committee to enforce sanctions set out in the company’s articles of... 

Eskom faces closure threat at biggest working power plant 

By: Bloomberg     25th February 2020 Eskom Holdings is battling to keep all the units of its biggest operational power plant open after being served with a compliance notice by South Africa’s environment ministry because of its high levels of air pollution. The indebted power utility has failed to fully repair pollution-abatement... 

Eskom faces closure threat at biggest working power plant

NCL firms up plans to increase power generation capacity

By: Ajoy K Das     25th February 2020 India’s NLC has firmed up plans to increased downstream activity, targeting power generation of 21 011 MW by 2025, of which at least 20% will be from renewable energy sources. In the current financial year, with the commissioning of the 500 MW first unit at Neyveli New thermal power project,... 

India’s SCCL firms up capex to achieve 67.5Mt production next year

By: Ajoy K Das     25th February 2020 India’s Singareni Collieries Company Limited (SCCL) has firmed up capital expenditure (capex) of $423-million for 2020/21 and increased its coal production target to 67.5-million tons, up from the targeted 66-million tons of the current financial year. The SCCL board last week approved the... 

Prospective coal block bidders seek bundled approvals

By: Ajoy K Das     24th February 2020 Large Indian coal consuming companies planning to enter commercial coal mining have asked the government to bundle mandatory approvals before putting up blocks for auction. The companies made a presentation at a recent meeting where government sought input from various stakeholders on best... 

Sasol confirms making 600 MW own-gen proposal in response to DMRE RFI   

By: Terence Creamer     24th February 2020 Sasol CEO Fleetwood Grobler confirmed on Monday that the energy and chemicals group made a submission to the Department of Mineral Resources and Energy in line with its request for information (RFI) on possible emergency electricity solutions that could be “grid-connected in the shortest time at... 

Sasol confirms making 600 MW own-gen proposal in response to DMRE RFI
Sasol CEO Fleetwood Grobler on the need for a culture change at the company following major cost overruns at its US project. Camera Work: Kutlwano Matlala. Editing: Nicholas Boyd. Recorded: 24.2.2020

Industry strongly opposed to further tariff increases for Eskom 

By: Marleny Arnoldi     24th February 2020 The National Energy Regulator of South Africa (Nersa) on Monday hosted the last of its public hearings on Eskom’s regulatory clearing account (RCA) application for the 2018/19 financial year, with various organisations having expressed their opposition to the granting of further tariff increases... 

Sasol holds back on dividend as it reports big H1 earnings slump

By: Terence Creamer     24th February 2020 Energy and chemicals group Sasol reported a 72% slump in earnings to R4.5-billion in the six months to December 31, 2019, compared with the prior period. Headline earnings a share, meanwhile, decreased by 74% to R5.94 when compared with the prior period. The board also decided not to declare an... 

Sasol holds back on dividend as it reports big H1 earnings slump

Court declares major Gupta-era coal contract with Eskom invalid 

By: News24Wire      21st February 2020 The Special Investigations Unit has secured a high court order setting aside a contract worth R3.7-billion between the formerly Gupta-owned mining group Tegeta Exploration & Resources and State power utility Eskom, according to Ministry of Justice and Correctional Services. According to the... 

 Court declares major Gupta-era coal contract with Eskom invalid

India’s Coal Ministry to fund CIL technical wing to increase exploration activity

By: Ajoy K Das     21st February 2020 The Indian government has framed a scheme to offer funds to the technical and consultancy arm of State miner Coal India Limited (CIL) to expand exploration activities so that more fully explored coal blocks could be put up for auction for bidding by private miners. Under the scheme, Central... 

Teck profit slumps on lower coal prices; flags virus hit

By: Reuters     21st February 2020 Canadian miner Teck Resources reported a 76% slump in fourth-quarter adjusted profit on Friday, hurt by lower prices for steelmaking coal and warned that the coronavirus epidemic would impact its earnings. Copper and other base metal prices have suffered from a long-drawn tariff war between the... 

Teck profit slumps on lower coal prices; flags virus hit
Teck Resources CEO Don Lindsay

Production at Vale’s Moz mine plunged last year

By: Rebecca Campbell     21st February 2020 The Moatize coal mine in Mozambique’s Tete province, which is majority owned by Brazilian mining major Vale, achieved a total coal production for last year of 8.77-million tons (Mt), with production for the fourth quarter of that year (4Q19) amounting to 1.876-Mt. Total coal sales for 2019 were... 

America’s coal country isn’t dead — it’s preparing for a comeback 

By: Bloomberg     20th February 2020 At least five of America’s coal producers went bankrupt in 2019. Prices for the fossil fuel have plunged 40% since a 2018 peak. And some of the nation’s largest miners are retrenching and slashing their dividends. But don’t be mistaken: The fight against climate change hasn’t killed off Coal... 

America’s coal country isn’t dead — it’s preparing for a comeback

Fires and climate fears rattle Australia's giant coal lobby

By: Reuters     20th February 2020 As bushfires and floods fuel public concerns in Australia about global warming, the country's powerful mining lobby is facing increasing pressure from investors to drop support for new coal mines, according to a dozen interviews with shareholders in global mining companies. Nearly a third of... 

Exxaro seeks buyers for ECC, Leeuwpan

By: Creamer Media Reporter      20th February 2020 Diversified miner Exxaro Resources has issued a request for expressions of interest (EoIs) from parties interested in potentially acquiring Exxaro Coal Central (ECC) and the Leeuwpan coal mine. This follows the conclusion of an internal portfolio review to evaluate and optimise the group's... 

Buffalo's interim CFO resigns

By: Creamer Media Reporter      20th February 2020 Graham du Preez has resigned as interim CFO of TSX-V- and AltX-listed Buffalo Coal Corporation to pursue other endeavours. The coal producer on Wednesday said it was finalising the process of identifying and appointing a permanent CFO. 

Wescoal advances Vanggatfontein, Moabsvelden projects

By: Marleny Arnoldi     20th February 2020 JSE-listed coal miner Wescoal says its Moabsvelden project implementation is progressing to plan with a contract mine having been selected. The appointment, however, remains subject to a contract mining agreement being signed.  

Mexico to resume search for miners killed in 2006 blast

By: Reuters     20th February 2020 The Mexican government will resume a search for the bodies of dozens of coal miners killed in a blast more than a decade ago, after mining firm Grupo Mexico returned the concession for the site to the government, officials said on Wednesday. Speaking on the 14th anniversary of the blast, Labor... 

Anglo delivers $3.5bn profit, declares final dividend 

By: Martin Creamer     20th February 2020 Diversified mining company Anglo American delivered 2019 profit attributable to equity shareholders of $3.5-billion, in line with the prior year. The company, headed by CEO Mark Cutifani, generated underlying earnings of $10-billion, a 9% increase, and $2.3-billion of attributable free cash flow. 

Anglo delivers $3.5bn profit, declares final dividend
Photo by Creamer Media
Anglo American CEO Mark Cutifani

Universal pleads for shareholders to hold fast

By: Esmarie Iannucci     20th February 2020 South Africa-focused coal miner Universal Coal has maintained its advice that shareholders not take any action in regards to a takeover bid from fellow-listed TerraCom, despite the suitor’s reports that its offer had garnered significant attention. TerraCom earlier this week reported that... 

South Africa could use mining royalties to set up sovereign fund – Minister

By: Reuters     20th February 2020 South Africa could use mining royalties to set up a proposed sovereign wealth fund, Mineral Resources and Energy Minister Gwede Mantashe said on Wednesday. President Cyril Ramaphosa said in an annual address to parliament last week the government had decided to establish a sovereign fund, but he... 

Soft coal prices tank Whitehaven profits

By: Esmarie Iannucci     20th February 2020 Coal miner Whitehaven Coal has reported a 30% drop in revenue for the interim period ending December, as coal prices tumbled. The ASX-listed miner on Thursday reported that revenue for the six months under review reached A$885.1-million, down from the A$1.2-billion achieved in the previous... 

Mantashe says Ministerial Determinations needed to unlock IRP 2019 are finalised and await Nersa’s concurrence 

By: Terence Creamer     19th February 2020 Mineral Resources and Energy Minister Gwede Mantashe announced on Wednesday that the Section 34 Ministerial Determinations required to give effect to the Integrated Resource Plan 2019 had been finalised and were currently serving before the National Energy Regulator of South Africa in order to... 

Mantashe says Ministerial Determinations needed to unlock IRP 2019 are finalised and await Nersa’s concurrence
Mineral Resources and Energy Minister Gwede Mantashe

New Hope output picks up despite New Acland delays

By: Esmarie Iannucci     19th February 2020 Coal miner New Hope has reported a 9% increase in coal production for the quarter ended January, and an 84% increase in production in the six months ended January, as the Bengalla project, in New South Wales, increased output. Total saleable coal production for the quarter reached 2.8-million... 

TerraCom's offer for Universal gains traction

By: Esmarie Iannucci     19th February 2020 Suitor TerraCom’s takeover offer for ASX-listed Universal Coal seems to have gained traction with shareholders, despite Universal’s obvious reluctance. TerraCom on Wednesday announced that acceptances to date, when aggregated with TerraCom’s existing interest in Universal, gave the company over... 

South Africa's permission for ACWA plant expires, lawyers say

By: Bloomberg     19th February 2020 ACWA Power has been informed by the South African government that its environmental authorisation to build a 306 MW coal-fired power plant in the country has expired, according to lawyers opposing the project. The authorisation for the Khanyisa coal-fired plant lapsed on October 31, 2018, and the... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve 

By: Martin Creamer     18th February 2020 Climate-friendly energy transition metals, copper, cobalt and nickel, stole the limelight during Glencore’s presentation of 2019 results on Tuesday, when the company revealed that it would be depleting its coal reserves in line with the global move towards a low-carbon economy. Presenting... 

Climate-friendly copper, cobalt, nickel steal limelight as Glencore depletes coal reserve
Photo by Bloomberg
Ivan Glasenberg

South Africa’s ‘Energy War Room’ to meet for first time

By: Bloomberg     18th February 2020 South Africa’s Energy War Room, a grouping of the main cabinet ministers responsible for the power industry, will meet for the first time this week since being reconstituted by President Cyril Ramaphosa in December as the country battles an electricity crisis that’s stalling economic growth. The... 

Eskom needs cash injection to avoid debt crisis – CEO

By: Reuters     18th February 2020 Ailing power utility Eskom urgently needs more cash to stabilise its ballooning debt pile with the funds coming from a rise in tariffs or new equity, new CE Andre de Ruyter told lawmakers on Tuesday. Eskom, which supplies 90% of South Africa's power but has struggled to meet demand, had a bid for... 

Eskom needs cash injection to avoid debt crisis – CEO
Eskom CEO Andre de Ruyter

Glencore provides update on its transition to low-carbon economy

By: Martin Creamer     18th February 2020 JOHANNESBURG (miningweekly.com) – Diversified mining and marketing company Glencore on Tuesday published an update on its performance in transitioning towards a low-carbon economy. This follows its climate change position statement of February 2019. 

Glencore provides update on its transition to low-carbon economy
Photo by Bloomberg
Ivan Glasenderg

Miners welcome Indonesia's new jobs bill that could spur coal growth

By: Reuters     18th February 2020 Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that the changes could underpin an expansion in polluting coal and threaten environment protection. President Joko Widodo's sprawling "Job Creation" bill... 

Polish miners' strike may hit the wall as coal is on the way out

By: Bloomberg     18th February 2020 Polish coal miners planning a protest in Warsaw later this month may find it more difficult than ever to secure their pay hike demands. The workers, whose strong negotiating position harks back to the Solidarity union’s emblematic fight against communism, have so far seen most of their... 

Polish miners' strike may hit the wall as coal is on the way out

Colombian coal miner Cerrejon and union extend negotiation period

By: Reuters     17th February 2020 Cerrejon, one of Colombia's main coal producers, and its largest union have extended negotiations which started at the end of January by a further 20 days, the parties said on Monday. Cerrejon, which is equally owned by BHP Group, Anglo American, and Glencore, exported 26.3-million tonnes of... 

ARM's basic earnings expected to rise

By: Simone Liedtke     17th February 2020 Diversified miner African Rainbow Minerals (ARM) expects its basic earnings for the first half of the 2020 financial year to increase by between 60% and 65% to between just over R2-billion and R2.1-billion. Basic earnings per share for the six months under review are expected to be between 1 081c... 

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