R/€ = 16.78 Change: 0.03
R/$ = 15.71 Change: -0.06
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Pt 947.50 $/oz Change: -17.50

Coal News

Buffalo Coal’s Balgray project receives water-use licence

By: Darren Parker     16th February 2022 The Department of Water and Sanitation (DWS) has granted a 15-year water-use licence (WUL) to coal miner Zinoju – which is 70% owned by TSX- and JSE-listed Buffalo Coal – for its Balgray refurbishment project at the Aviemore anthracite coal mine near Dundee, in KwaZulu-Natal. The WUL, which was... 

Coronado takes ownership of Curragh North works

By: Esmarie Iannucci     16th February 2022 Coal miner Coronado Global Resources will take on management and operation of four mining fleets from contractor Thiess at its Curragh North mining area, which is part of the greater Curragh Complex, in Queensland. The arrangements will see Coronado manage and operate three of the fleets... 

It’s records all round for Glencore in ‘terrific’ 2021  

By: Martin Creamer     15th February 2022 2021 was a terrific year for the company, Glencore CEO Gary Nagle said on Tuesday, when he reported record earnings before interest tax depreciation and amortisation (Ebitda) of $21.3-billion, a record marketing performance Ebit of $3.7-bilion, and a record industrial business performance of... 

Screenshot taken by Creamer Media during Glencore's presentation of results.
Glencore’s record financial results covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

China approves $756m new coal mine in northern province

By: Reuters     15th February 2022 China's energy administration has approved a new coal mine project with an estimated cost of 4.8-billion yuan ($756-million) in the northern province of Shaanxi, it said on Tuesday. The mine will have annual production capacity of three-million tonnes, the administration said. 

Glencore’s earnings rocket 84% to $21.3bn

By: Martin Creamer     15th February 2022 Diversified mining and marketing company Glencore on Tuesday announced 84% higher financial results for the year, with earnings before interest tax depreciation and amortisation (Ebitda) rising to $21.3-billion. Looking forward, Glencore CEO Gary Nagle said the company remained focused on its... 

Pictue supplied
Glencore CEO Gary Nagle

Wescoal confirms investigation at Arnot Opco is under way  

By: Marleny Arnoldi     15th February 2022 JSE-listed coal miner Wescoal has confirmed that an investigation into alleged mismanagement at the Arnot Opco operation, in which it has a 50% indirect interest, is under way. The company refers to an article published by a weekly newspaper on February 13 that made several claims and... 

Coal dump truck

Coal is still raising trillions of dollars despite green shift 

By: Bloomberg     15th February 2022 The dirtiest fossil fuel is still raising-trillions of dollars of funding, despite finance industry pledges to back net zero carbon targets by the middle of the century. Commercial banks have channeled more than $1.5-trillion across the coal supply chain since the start of 2019, according to a... 

An image of coal mining at an openpit

Commodity prices drive BHP profits up

By: Esmarie Iannucci     15th February 2022 Diversified miner BHP has reported a 50% increase in profit for the half-year ended December, amid higher commodity prices, but has warned of cost increases in the near future. Profit from operations for the half-year reached $14.8-billion, while underlying earnings before interest, taxes,... 

Image shows iron-ore trains

Exxaro’s Belfast coal mine celebrates safety record

By: Tasneem Bulbulia     14th February 2022 Coal and heavy minerals miner Exxaro Resources’ Belfast coal mine, in Mpumalanga, has recorded 500 days free of workplace injuries. The newly built Belfast coal mine started producing high-grade thermal coal six months earlier than expected in September 2019.  

Red tape delaying R90bn investment in ready-to-go projects – Minerals Council 

By: Martin Creamer     14th February 2022 Red tape is delaying investment worth R90-billion in ready-to-go mining-related projects, at a time when the South African economy is in desperate need of such projects proceeding, to create jobs and to stimulate economic growth. Projects worth R30-billion would be able to proceed if the 4... 

President Cyril Ramaphosa
President Cyril Ramaphosa

Weekly Commodities Market Wrap

By: Creamer Media Reporter      14th February 2022 ENERGIES - Coal continues strong although a market correction is imminent once European physical supplies are assured. The current strong physical premiums being enjoyed are likely to align back to paper market levels, especially considering that natgas, power and carbon markets were softer on... 

An image of the latest spot market prices for various metals

MC Mining faces board spill

By: Esmarie Iannucci     14th February 2022 Triple listed MC Mining on Monday announced that shareholders who hold a 6.8% interest in the company have called for a general meeting to discuss the removal of a number of directors. The ASX, Aim and JSE listed company on Monday said that the meeting request was made by shareholders Yi He, Jun... 

Activist investor Bluebell calls for new Glencore coal structure  

By: Bloomberg     14th February 2022 Activist investor Bluebell Capital Partners has asked Glencore to consider a radical new structure for its coal business to turn itself from a “disliked stock” into a top pick for investors targeting sustainability. Glencore should create a Coal NewCo, splitting its capital into A and B shares,... 

Giant miners to see record profits slip as cost pressures bite

By: Bloomberg     14th February 2022 Investors in the world’s biggest mining companies will this month be watching for signs that mounting cost pressures and the impacts of slowing Chinese growth could further erode record earnings. Miners are likely to report a drop in profits. The top-five western diversified mining companies,... 

Thungela’s shares rise on full-year earnings forecast

By: Tasneem Bulbulia     11th February 2022 JSE-listed Thungela Resources’ share price rose by nearly 12% on Friday after it announced that its earnings per share (EPS) for the year ended December 31, would be between R60.32 and R61.27, compared with the loss a share of R5.31 reported for 2020. Headline earnings per share (HEPS) are... 

Green hydrogen strategy supporting development of R270bn Northern Cape pipeline 

By: Martin Creamer     11th February 2022 Over the past year, the South African government has built on its successful hydrogen strategy to make major strides in positioning the country as a global leader in the green hydrogen market, President Cyril Ramaphosa stated during his State of the Nation Address. This positioning included the... 

Supplied picture
President Cyril Ramaphosa

First coal cut at Kangra underground extension

By: Darren Parker     11th February 2022 Coal mining company Kangra – a subsidiary of mining investment group Menar – started mining first coal from its new underground Udumo adit on February 9. The new adit, which was previously known as Twyfelhoek, was renamed Udumo – which means “honour” in isiZulu – to better reflect the spirit and... 

A photo of Kangra GM Pierre Louw in the Udumo adit
Photo by Creamer Media
Kangra GM Pierre Louw

Indonesia suspends operations of more than 1 000 miners

By: Reuters     11th February 2022 Indonesia has suspended the operations of more than 1 000 miners of coal, tin and other minerals due to a failure to submit 2022 work plans, according to a document reviewed by Reuters issued by the Minerals and Coal Directorate of the mining ministry. Sony Heru Prasetyo, an official at the... 

Peabody surges as demand for coal drives up fourth-quarter sales

By: Bloomberg     11th February 2022 US coal giant Peabody Energy surged in early trading after posting quarterly profit that were almost triple what analysts expected, driven by strong demand and high prices for the dirtiest fossil fuel. Shares soared as much as 8.6% to $14.76 at 9:30 a.m. in New York trading, touching its highest... 

Foreseen renewables demand providing opportunity for job creation, just energy transition 

By: Martin Creamer     10th February 2022 Demand already foreseen is providing South Africa with the far-reaching and very welcome opportunity to create sufficient new jobs – “and then some” – to ensure a just energy transition away from the country’s current climate-threatening carbon intensity, Mining Weekly can report. South Africa’s... 

Screenshot by Creamer Media during Creamer Media webinar
Photo by Creamer Media
From left, clockwise, Paul O’Flaherty, Dr Tsakani Mthombeni, Hein Reyneke, and Andre de Ruyter

Dalian coking coal tumbles as state planner calls for price stability

By: Reuters     10th February 2022 Chinese coking coal futures plunged on Thursday, after the country's state planner alerted companies with inflated coal prices, while benchmark iron ore rebounded despite government warnings. The National Development and Reform Commission summoned some coal producers on Wednesday, urging them to... 

Consol Energy has already sold almost half of next year's coal output

By: Bloomberg     10th February 2022 Consol Energy has sold almost all the coal it expects to dig up this year and lined up buyers for almost half of next year’s production, a sign that US miners see strong demand continue for the dirtiest fossil fuel. Consol is “near fully-contracted for 2022” and has contracts to deliver... 

Early close for two AGL coal-fired power stations

By: Esmarie Iannucci     10th February 2022 The Australian government has expressed concern about energy generator AGL’s decision to exit coal, with the company announcing on Thursday that it would bring forward the closure of its Bayswater and Loy Yang A power stations in New South Wales and Victoria. During its first half results... 

Anglo starts up new metallurgical coal mine 

By: Martin Creamer     9th February 2022 Diversified mining company Anglo American announced on Wednesday that its new Aquila mine has achieved its first longwall shear of steelmaking metallurgical coal on schedule and on budget, marking the project’s final stages of construction and commissioning. The new mine, which will have a total... 

Supplied picture
Anglo American Bulk Commodities CEO Themba Mkhwanazi

Anglo American marks milestone at Aquila

By: Esmarie Iannucci     9th February 2022 Global miner Anglo American has marked its first longwall shear at its Aquila mine, in Queensland, marking the final stages of construction and commissioning. The $323-million Aquila mine extends the life of Anglo American’s existing Capcoal underground operations by seven years, after the... 

Eskom suspends load-shedding and says ‘corrective action’ being taken to address leadership deficiencies

By: Terence Creamer     8th February 2022 Eskom officially suspended load-shedding on Tuesday after a material reduction in the level of unplanned outages across its coal fleet, which fell to below 12 000 MW after having surged to about 16 000 MW on Monday. Planned outages of just over 5 000 MW were being implemented as of Tuesday... 

Eskom power station
Photo by Creamer Media
Eskom power station

Strong Brent crude oil, chemicals prices drive Sasol's interim Ebitda higher

By: Schalk Burger     8th February 2022 Chemicals and energy multinational Sasol expects to report a 66% to 76% increase in adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) to between R30.9-billion and R32.7-billion for the six months ended December 31. That compares with Ebitda of R18.6-billion reported... 

Mminele appointed to mobilise $8.5bn climate finance for just transition  

By: Terence Creamer     8th February 2022 President Cyril Ramaphosa has appointed former South African Reserve Bank (SARB) deputy governor Daniel Mminele to head the newly established Presidential Climate Finance Task Team, which will lead South Africa’s efforts to mobilise concessional climate finance for its just energy transition. The... 

Daniel Mminele
Daniel Mminele

Fifteen banks now steering clear of East African oil project, says Just Share

By: Martin Creamer     8th February 2022 Four out of five of South Africa’s largest lenders have confirmed that they will not be involved in the financing of the East African Crude Oil Pipeline project, taking the total number of non-participating commercial banks globally to 15. Shareholder activism organisation Just Share stated in a... 

Directors face potential liability for climate change risks – Webber Wentzel 

By: Martin Creamer     8th February 2022 Directors face potential liability if they fail to carry out their fiduciary duties to curb climate change risks and do not make complete disclosures about climate-related risks, Webber Wentzel partner Merlita Kennedy and associate Tobia Serongoane stated on Tuesday. In a release to Mining... 

Creamer Media montage
Webber Wentzel associate Tobia Serongoane (left) and partner Merlita Kennedy.

US to spend $725m this year on abandoned coal mine cleanup

By: Reuters     8th February 2022 The Biden administration on Monday said $725-million in federal funds would be available to states this year to clean up abandoned coal mines, one of several initiatives aimed at reducing pollution from decades of fossil fuel development. The money represents a portion of the $11.3-billion... 

Qld invests in new shiploader at Gladstone

By: Esmarie Iannucci     8th February 2022 The Queensland government on Tuesday announced the investment of more than A$60-million in a new coal shiploader at the port of Gladstone. Treasurer and Minister for Trade and Investment Cameron Dick said the investment in the new shiploader would support thousands of jobs in the resources... 

Image shows coal loader

Thiess wins Olive Downs contract

By: Esmarie Iannucci     8th February 2022 ASX-listed contractor Thiess has been appointed as the mining services contractor for the Olive Downs coal project, in Queensland. The eight-year contract would see Thiess deliver full-service mining operations, including mine planning, overburden removal, drill and blast, load and haul, water... 

Power station managers in crosshairs as sharp deterioration in plant performance triggers new round of load-shedding  

By: Terence Creamer     7th February 2022 Eskom CEO Andre de Ruyter reports that action will be taken against management at some power stations after an unexpectedly sharp deterioration in the performance of certain coal-fired generators on Monday, which precipitated the re-introduction of load-shedding only 24 hours after rotational... 

Eskom power lines

Eskom insists it has ‘shovel-ready projects’ amid questions over maturity of pipeline  

By: Terence Creamer     7th February 2022 Electricity utility Eskom insists that it has a pipeline of generation, transmission and distribution projects that it could start implementing immediately should it secure access to “finance, human resources and expedited regulatory approvals”. During a recent interview, Andre de Ruyter told... 

Eskom keen to kick-off Just Energy Transition strategy at Komati this year
Eskom keen to kick-off Just Energy Transition strategy at Komati this year

Goldman commodity veteran says he’s never seen a market like it

By: Bloomberg     7th February 2022 Jeff Currie, the closely-followed head of commodities research at Goldman Sachs Group says he’s never seen commodity markets pricing in the shortages they are right now. “I’ve been doing this 30 years and I’ve never seen markets like this,” Currie said in a Bloomberg TV interview. “This is a... 

An image of coal on a conveyor

Colombia mining production, exports rose in 2021 - industry group

By: Reuters     7th February 2022 Colombia's mining production and exports rose in 2021 from the previous year, the Colombian Mining Association (ACM) said on Friday, while forecasting mineral output will increase by 10% this year. The Andean country's coal production rose to 59.6-million tonnes in 2021, up from 49.3-million... 

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