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Coal News

World Bank says Eskom debt restructuring should be coupled to power market reform  

By: Terence Creamer     23rd January 2019 World Bank country director Paul Noumba Um believes the South African government is moving in the “right direction” by pursuing discussions on possible debt relief for Eskom in conjunction with plans for restructuring the utility and overhauling the architecture of domestic power market. He also... 

Gold, copper prices to rebound in 2019 – Fitch Solutions

By: Nadine James     23rd January 2019 Increased economic uncertainty and declining metal stocks are expected to drive gold and copper prices this year, Fitch Solutions commodities analyst Sabrin Chowdhury stated during a webcast on Wednesday. She noted that the expected rebound in gold was “already playing out” and that the price... 

Loophole lets Norway's $1tr fund boost its coal exposure 

By: Bloomberg     23rd January 2019 Norway’s massive sovereign wealth fund has increased its exposure to coal reserves even after imposing restrictions on investing in the fossil fuel that’s seen as one of the main catalysts for global warming, according to a report. The findings are another illustration of how the ban, which... 

Loophole lets Norway's $1tr fund boost its coal exposure

Atrum adds further tonnes to Elan

By: Esmarie Iannucci     22nd January 2019 Coal developer Atrum Coal could consider an accelerated development at its Elan coal project, in Alberta, in Canada, after adding a further 201-million tonne of resource to the project. The ASX-listed Atrum noted that a total Joint Ore Reserves Committee-compliant resource of 201-million tonnes,... 

Universal achieves steady increase in production, earnings in Q2 

By: Marleny Arnoldi     22nd January 2019 ASX-listed Universal Coal is on track to achieve forecast earnings before interest, taxes, depreciation and amortisation (Ebitda) guidance of A$93-million for the 2019 financial year. The coal miner achieved Ebitda of A$30.5-million, of which A$17-million was attributable, for the quarter ended... 

To meet climate goals, world urged to reuse natural resources

By: Reuters     22nd January 2019 More of the billions of tonnes of materials the world uses each year must be recycled and reused to keep climate change in check, researchers said on Tuesday. Only about a tenth of the nearly 93 billion tonnes of materials utilised annually - including minerals, metals, fossil fuels and biomass -... 

Cokal wading through the shallows for BBM

By: Esmarie Iannucci     21st January 2019 Coal developer Cokal has singed a non-binding heads of agreement with Vietnam’s An PhatLoc General Trading Co to jointly develop shallow draft barging on the Barito River to transport coal from the PT Bumi Barito Minerals (BBM) project area, in Indonesia. Barges built by An PhatLoc, carrying... 

Germany's 2019 hard coal imports seen rising after mining ends

By: Reuters     18th January 2019 Germany is expected to import 45-million tonnes of hard coal this year, up roughly 1.4% from 2018 despite mounting competition from renewable energy, as the closure of domestic mines reduces domestic supply, importers said on Friday. The total would comprise an estimated 30 million tonnes for... 

Aussie coal junior claims discrimination in Poland

By: Mariaan Webb     18th January 2019 Australia-headquartered Prairie Mining, which focuses on coal projects in Poland, said on Friday that, as a foreign investor, it faced discriminatory treated in Poland, as its tussle with the Ministry of Environment (MoE) over the Debiensko mining concession dragged on. The company has applied... 

Aussie coal junior claims discrimination in Poland

India’s SCCL firms up capex to spread operational hinterland

By: Ajoy K Das     18th January 2019 India’s Singareni Collieries Company Limited (SCCL) has drawn up plans for $1.40-billion capital expenditure over the next five years to extend its footprint beyond its traditional mining operations around the southern state of Telengana. The plan includes securing at least seven coal blocks in... 

Mantashe highlights challenges facing South Africa’s mining sector

By: Rebecca Campbell     18th January 2019 Mineral Resources Minister Gwede Mantashe has stressed that the key factor in the future of South African mining was the human element. He did so when delivering the keynote address at the launch, in Pretoria last month, of a book – "The Future of Mining in South Africa: Sunset or Sunrise" – by... 

RFID technology solution ideal for mining industry

By: Thabi Madiba     18th January 2019 With radio-frequency identification (RFID) technology being ideal for inspecting assets at a mine, screening and vibrating-equipment solutions provider Aury Africa has enlisted RFID specialist Thembekile Asset Management Solutions (TAMS) to develop a solution specific to the requirements of the... 

RFID technology solution ideal for mining industry
FUNCTIONAL The microchips in the tags can be embedded into different types of attachments

Moroccan authorities announce closure of 2 000 illegal mine shafts

By: Nadine James     18th January 2019 Moroccan authorities closed 2 000 “abandoned and illicitly exploited shafts” last year, the AFP reported last week following an announcement by the Moroccan energy and mines ministry. The ministry reportedly promised to shut an additional 1 500 remaining shafts by the end of 2019. 

SA company wins international award for ventilation shaft repair and waterproofing

By: Nadine James     18th January 2019 On the November 9, 2018, for the first time in more than two decades, a South African company won the Award of Excellence at the International Concrete Repair Institute Awards, which took place in Omaha, Nebraska, in the US. The Award of Excellence was presented to Sanika Waterproofing... 

AEMFC says will submit bid for Optimum assets

By: Marleny Arnoldi     17th January 2019 An African Exploration Mining and Finance Corporation- (AEMFC-) led consortium on Thursday announced that it would submit a bid for the Optimum Coal assets, which are currently in business rescue. State-owned AEMFC believed the Optimum Coal transaction would be fundamental to the country’s... 

AEMFC says will submit bid for Optimum assets
Coal stockpile

Empowered Kwatani benefits local mining industry

By: Schalk Burger     17th January 2019 Industrial and mining vibrating screens manufacturer Kwatani has achieved a level-1 broad-based black economic empowerment (BBBEE) score and is 51% black women-owned. This BBBEE accreditation affords significant benefits to its mining clients that can claim 135% of money spent on Kwatani.... 

Empowered Kwatani benefits local mining industry
Kwatani CEO Kim Schoepflin

Transnet to pursue ‘just and equitable’ settlements with rail OEMs awarded ‘unlawful’ contracts 

By: Terence Creamer     17th January 2019 Having determined the procurement of 1 064 diesel and electric locomotives to be “irregular and unlawful”, Transnet has communicated its intention to review contracts awarded to four original equipment manufacturers (OEMs) in 2015. The State-owned freight logistics group has also indicated that... 

Transnet to pursue ‘just and equitable’ settlements with rail OEMs awarded ‘unlawful’ contracts
Photo by Dylan Slater
Transnet chairperson Dr Popo Molefe

Strike called off at Wollongong mine

By: Esmarie Iannucci     17th January 2019 ASX-listed Wollongong Coal on Thursday told shareholders that the protected industrial action at its Wongawalli Colliery, in New South Wales, had come to an end. On January 11, contract workers at the project went on strike relating to proposed enterprise agreement between the labour hire... 

Whitehaven reports record quarter

By: Esmarie Iannucci     17th January 2019 Coal miner Whitehaven Coal has reported record quarterly run-of-mine production of 7.4-million tonnes, and a first half production of 11-million tonnes. The miner on Thursday told shareholders that it was on track to meet its full year production guidance of between 22-million and 23-million... 

Divers locate one body in flooded Indian mine after 35 days

By: Reuters     17th January 2019 Indian navy divers found the body of one of 15 miners who went missing in a flooded coal mine in a remote corner of the country more than a month ago, officials said on Thursday. Rescuers have been struggling to pump water out of the 370-feet-deep illegal "rat-hole" coal mine in the northeastern... 

South32 delivers solid Q2 results; announces leadership shuffle 

By: Esmarie Iannucci     17th January 2019 Diversified miner South32 has reported a solid production performance in the December quarter, with the miner maintaining its production guidance for the full year to June 2019. “We achieved a strong quarter of production, maintaining full-year guidance for all operations with the exception of... 

South32 delivers solid Q2 results; announces leadership shuffle
Photo by Bloomberg
South32 CEO Graham Kerr

Optimum, Koornfontein preliminary business rescue plan to be submitted for creditor approval next week 

By: Marleny Arnoldi     16th January 2019 Legal adviser Bouwer van Niekerk expects to have a preliminary business rescue plan for Optimum Coal Mine and Koornfontein Mine submitted for creditor approval by the end of next week, he confirmed to Mining Weekly Online on Wednesday. The mines’ business rescue practitioners (BRPs) have been... 

Optimum, Koornfontein preliminary business rescue plan to be submitted for creditor approval next week

Ovoot to fill fat coal gap in China - Aspire

By: Esmarie Iannucci     16th January 2019 Coal developer Aspire Mining on Wednesday told shareholders that its Ovoot project, in Mongolia, could assist in addressing a projected 16-million- to 22-million-tonne shortage of fat coking coal in China, out to 2025. China’s ‘fat’ coal category encapsulates high fluidity coals with good plastic... 

Pacific American Coal increases Elko resource

By: Esmarie Iannucci     16th January 2019 Coal developer Pacific American Coal has reported an 18% increase in the Joint Ore Reserves Committee compliant resource of its Elko coking coal project, in British Columbia. The project is now estimated to host some 303-million tonnes of coal, with 117-million tonnes of the resource classified... 

Golden Investments says Stanmore offer final

By: Esmarie Iannucci     16th January 2019 Suitor Golden Investments has told the shareholders of ASX-listed Stanmore Coal that it will not be increasing its offer price of 95c a share, and that it will not extend its offer date past January 22. Stanmore in December urged shareholders to reject the offer, saying the price was “materially... 

Golden Investments says Stanmore offer final

Project Halo refutes allegations of favoritism in bid to acquire Optimum, Koornfontein mines 

By: African News Agency      16th January 2019 Project Halo – the consortium which came out as the preferred bidder in the highly-contested purchase of coal mine previously owned by the Gupta family – on Tuesday rejected allegations of impropriety in the way it secured the bid to acquire mine and other related assets.  Last year, Project Halo... 

NUM to lead protest march in Pretoria over unpaid colliery mineworkers’ salaries

By: Tasneem Bulbulia     15th January 2019 The National Union of Mineworkers (NUM) in the Highveld Region will lead a protest march on Wednesday, in Pretoria, to demand the immediate payment of salaries owed to hundreds of mineworkers at the Optimum and Koornfontein collieries, in Mpumalanga.   

Trapped Indian miners presumed dead

By: Ajoy K Das     15th January 2019 After more than a month, 15 illegal miners trapped in a coal mine in the north-eastern Indian state of Meghalaya are presumed to be dead even though the Supreme Court monitoring rescue operations said that “hunt must continue as miracles do happen”. On December 13, 15 miners were trapped 370 ft... 

Merkel seeks to preserve jobs while phasing out coal plants

By: Bloomberg     15th January 2019 Angela Merkel’s commission plotting Germany’s exit from coal faces a tricky balancing act: how to stop mining and burning the dirtiest fossil fuel without whipping up more voter anxiety over job losses. Germany’s chancellor meets with coal-state governors who sit on the commission on Tuesday in... 

Electric cars seen getting cleaner even where grids rely on coal

By: Bloomberg     15th January 2019 Electric cars are better for the environment than traditional gasoline models, and that benefit will grow as power generators shift away from coal. That’s the conclusion of research by BloombergNEF, which found carbon dioxide emissions from battery-powered vehicles were about 40% lower than for... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa  

By: Reuters     15th January 2019 Investment bank Goldman Sachs said South Africa's rand could tumble 3.5% if State-run power utility Eskom suffers a major sell-off in its bonds, but it could also jump 4.5% if the firm's troubles improve. Goldman's analysts said an Eskom risk gauge used by the bank was now close to its most... 

Goldman models risk of 1 000 basis point Eskom blowout for South Africa

Organisations criticise ‘untransparent’ and ‘inefficient’ Eskom

By: Kim Cloete     14th January 2019 The Organisation Undoing Tax Abuse (Outa) has suggested that Eskom should be granted an electricity tariff increase of only 5% over the next three years and pushed for a radical overhaul of the utility. “We recommend a consumer price index tariff increase of 5% a year for the multiyear price... 

Eskom warns of 'debt trap' as it pleads for 15% hike  

By: Kim Cloete     14th January 2019 Eskom CEO Phakamani Hadebe has apologised for the severe predicament Eskom is in, but has pleaded for an electricity tariff increase of 15% over the next three years.   Hadebe made the call at the opening of public hearings into electricity tariffs held by the National Energy Regulator of South... 

Eskom warns of 'debt trap' as it pleads for 15% hike
Photo by Dylan Slater
Eskom CEO Phakamani Hadebe

Edenville acquires second excavator to boost mining output at Rukwa

By: Marleny Arnoldi     14th January 2019 Aim-listed Edenville Energy has acquired a second excavator to increase the amount of mined material from its Rukwa coal-to-power project, in Tanzania. The company secured a $750 000 loan during the last few weeks of 2018, which has been used to fund the acquisition of the second excavator and... 

MC Mining acquires key surface rights to advance Makhado project

By: Marleny Arnoldi     14th January 2019 Aim-, ASX- and JSE-listed MC Mining’s subsidiary, Baobab Mining & Exploration, has completed the acquisition of the Lukin and Salaita properties, which are key surface rights required for the Makhado hard coking and thermal coal project, in Limpopo. The acquisition, announced in November last... 

MC Mining acquires key surface rights to advance Makhado project
Photo by Creamer Media Chief Photographer Dylan Slater
MC Mining CEO David Brown

Merkel seeks to heal rift over role of coal in Germany's economy

By: Bloomberg     14th January 2019 Angela Merkel this week will seek to bridge divisions in Germany about how quickly to cut the nation’s reliance on coal, a controversial issue that has sparked violent clashes between green protesters and police and rattled its brittle governing coalition. The Chancellor will use a Tuesday... 

Merkel seeks to heal rift over role of coal in Germany's economy

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans 

By: Simone Liedtke     10th January 2019 The joint business rescue practitioners (BRPs) of Optimum Coal Mine (OCM) and Koornfontein Mines (KFT) expect to convene meetings with creditors within the next few weeks to vote on the proposed business rescue plans for the mines. The meetings will take place once the BRPs have resolved... 

BRPs to meet with Optimum, Koornfontein creditors to vote on proposed business rescue plans

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