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Coal News
MC Mining says optimisation initiatives bearing fruit 
By: Tasneem Bulbulia 13th March 2020 MC Mining implemented optimisation initiatives at the Uitkomst Colliery during the six months to December 31, which yielded very positive results, with run-of-mine (RoM) coal production increasing by 11% year-on-year, acting CEO Brenda Berlin said, releasing the company’s reviewed interim... →
Shares in South Africa's Sasol jump nearly 30% as oil price recovery sparks buying
By: Reuters 13th March 2020 Shares in South African petrochemicals group Sasol surged nearly 30% on Friday as a recovery in oil prices sparked buying of the stock, which was pummelled in the previous session. Brent crude prices rose over 3% on Friday after falling more than 7% the day before, a drop which helped send Sasol... →
Black-lung coal miners facing serious threat from virus spread
By: Bloomberg 13th March 2020 The biggest labor union for US coal miners is warning that members are at “significant risk” from the rapidly spreading coronavirus. Mines are enclosed spaces where the highly contagious virus can easily spread, according to Phil Smith, a spokesman for the United Mine Workers of America. The... →
Current prevention unable to mitigate explosions
By: Mc'Kyla Nortje 13th March 2020 Explosion, fire and dust suppression system original equipment manufacturer (OEM) Explospot Systems MD Arend Späth warns that current prevention used in underground coal mines is not enough to mitigate all methane and gas explosions or related fires during mining operations. He adds that methane... →
Teck to cut carbon intensity by one third in the next decade
By: Mariaan Webb 12th March 2020 Canadian diversified major Teck Resources on Thursday announced a carbon intensity target for 2030, as part of its new sustainability strategy and goals. The miner, which already committed to be carbon-neutral across its operations and activities by 2050, said it would reduce carbon intensity by... →
Sasol confirms possible equity issue as it breaks silence amid massive sell-off
By: Terence Creamer 12th March 2020 Chemicals and energy group Sasol, which has seen its market capitalisation decimated in recent days as a result of a series of adverse developments, including a ratings downgrade, a big slump in the oil price and Covid-19-induced market volatility, broke its silence on Thursday afternoon when it... →
Coal miner Exxaro driving rigorous renewable energy strategy 
By: Martin Creamer 12th March 2020 South Africa’s electricity generation crisis has created major opportunities for companies, businesses and individuals to start generating their own power, Exxaro CEO Mxolisi Mgojo said on Thursday when the JSE-listed black-empowered company declared generous dividends following a resilient 2019... →
Johannesburg stocks plunge most since 1997 in ‘panic’ sell-off
By: Bloomberg 12th March 2020 South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as reaction to US measures aimed at curbing the spread of the coronavirus accelerated the sell-off sweeping through global equities. The FTSE/JSE Africa All Share Index sank as much as 9.3% as of 3:34... →
ASIC lifts stop order on TerraCom/Universal bid
By: Esmarie Iannucci 12th March 2020 The Australian Securities and Investment Commission (ASIC) has revoked an interim stop order in relation to ASX-listed TerraCom’s bid for South Africa-focused coal miner Universal Coal. The Australian watchdog at the end of February imposed the stop order, impeding TerraCom’s ability to... →
Exxaro lifts dividend, creates jobs, supports enterprises
By: Martin Creamer 12th March 2020 Black-controlled diversified resources group Exxaro, which created 746 jobs and supported 30 small, medium-sized and microenterprises in the twelve months to December 31, reported a R235-million top-line 2019 increase, raised its dividend payout and lifted headline earnings a share. Core earnings... →
Exxaro CEO Mxolisi Mgojo.
Menar doing due diligence on thermal coal assets being offloaded
By: Martin Creamer 10th March 2020 Private investment and management company Menar is doing due diligence on thermal coal assets that have been placed on the market by companies wishing to offload them out of their portfolios. “If we get a good deal, we’ll look at making acquisitions,” Menar MD Vuslat Bayoǧlu told Mining Weekly on... →
South African court sides with Eskom in 2018/19 tariff dispute
By: Reuters 10th March 2020 A South African court on Tuesday sided with State power utility Eskom in a dispute with energy regulator Nersa over electricity tariffs in the 2018/19 financial year. The court "set aside" Nersa's tariff decision and granted Eskom leave to apply to Nersa for additional expenses it incurred in... →
Legal threats set to stymie South African unions’ Eskom plan
By: Bloomberg 10th March 2020 A plan proposed by South Africa’s biggest labor group to get pension funds and state lenders to refinance part of the state power utility’s gargantuan debt faces hurdles that may be impossible to overcome. Under the Congress of South African Trade Unions’ so-called social compact, Eskom Holdings... →
Ncondezi nears tariff offer submission stage, to commission off-grid project soon
By: Marleny Arnoldi 10th March 2020 Aim-listed Ncondezi Energy is at an advanced stage with the project financing model for its 300 MW coal-to-power project, in Mozambique, and expects sign off from its partners before the end of the month. Once the financial model is signed off, the company can start with a formal tariff offer... →
Commodity refocus: BC exploration investment shifts to copper
By: Mariaan Webb 9th March 2020 Investment in gold and coal exploration in Canada’s British Columbia continued to decrease in 2019, as investors are shifting their focus to base metals, particularly copper. However, with C$127-million put towards gold exploration, the yellow precious metal continues to attract the largest... →
The Galore Creek project, a venture between Teck Resources and Newmont Mining, is a large copper/gold deposit in British Columbia.
Coronavirus likely to cause drastic price falls – Menar
By: Martin Creamer 9th March 2020 The reduction in the consumption of mined products that the coronavirus was causing would likely result in a drastic fall in prices, Menar MD Vuslat Bayoğlu said on Monday. Metals and minerals like manganese, chrome, iron-ore and metallurgical coal were not being consumed at the rate they were... →
Death of coal financing is exaggerated as China steps up
By: Bloomberg 9th March 2020 Moves by some of the world’s biggest banks to end coal financing for the sake of the planet was supposed to create major headaches for companies like Whitehaven Coal. Yet there was the Australian miner on a conference call last month announcing the refinancing and extension of a A$1-billion... →
Colombia coal miner Cerrejon, union fail to reach contract agreement
By: Reuters 9th March 2020 Cerrejon, one of Colombia's biggest coal producers, and its largest workers union on Friday concluded contract negotiations without reaching an agreement, the parties said. Union members will now vote on whether to strike or to go to arbitration with the company. "There was no agreement. We... →
Exxaro appoints first-ever female mining manager
By: Simone Liedtke 6th March 2020 Diversified miner Exxaro Resources has appointed Tamara Qwatekana as the company’s first ever female mining manager. She will be based at Exxaro’s digital connected mine in Belfast, Mpumalanga. →
US coal use is plunging at fastest rate since Eisenhower era
By: Bloomberg 6th March 2020 US coal use plunged more than 13% in 2019, the most in 65 years, as power plants shut down across the country. That’s poised to happen again this year. Total consumption slumped to 596-million tons in 2019 from 688-million tons in the prior year, according to the US Energy Information... →
Vale’s Mozambique operation takes impairment hit
By: Rebecca Campbell 6th March 2020 In its recently released report, Vale’s Performance in 2019, Brazilian mining major Vale stated that it had to take an impairment charge of $1.691-billion last year on its Moatize coal operation in Mozambique. Moatize, majority-owned by Vale, and located in the western province of Tete, is the... →
Standard Bank releases policy on lending to thermal coal mining projects
By: Simone Liedtke 5th March 2020 Financial services provider Standard Bank has released its Thermal Coal Mining Policy, making it the first South African bank to publicly release a policy on lending to coal mining projects. This follows a landmark shareholder vote in favour of a climate risk-related shareholder resolution which... →
Exxaro to report higher attributable, headline earnings
By: Marleny Arnoldi 5th March 2020 Diversified miner Exxaro Resources expects to report a 5% to 19% increase in headline earnings per share (HEPS) to between R28.05 and R31.80 for the year ended December 31. Attributable earnings per share (AEPS) are also expected to be between 32% and 46% higher year-on-year at between R36.97... →
Nersa aiming to grant concurrence on Ministerial determinations within three months
By: Terence Creamer 5th March 2020 The National Energy Regulator of South Africa will release a consultation paper, possibly next week, which will formally initiate the public-participation process required to secure the regulator’s concurrence on two Section 34 Ministerial determinations that have been drafted by Mineral... →
Europe embarks on economic revolution with landmark climate law
By: Bloomberg 5th March 2020 Europe wants to make it illegal by 2050 to emit more greenhouse gases than can be removed from the atmosphere. European Commission President Ursula von der Leyen unveiled a draft law on Wednesday that would commit the region to become the first climate-neutral continent by the middle of the... →
Edenville restarts operations at Rukwa wash plant
By: Simone Liedtke 4th March 2020 The wash plant at Aim-listed Edenville Energy’s flagship Rukwa coal project, in south-west Tanzania, restarted continuous operations on Tuesday. The thermal coal project developer announced last month that a stockpile of about 6 000 t of unwashed run-of-mine coal, mined from the southern pit at... →
BP, Santos carbon capture pact may rekindle dormant Australia plans
By: Reuters 4th March 2020 Australia's dormant carbon capture and storage projects may gain some momentum after BP and Santos said they would join up on a pending site as world's largest coal and liquefied natural gas (LNG) exporting country steps up its climate change fight. Australia's conservative government is... →
Universal and TerraCom hold off on shareholder meeting
By: Esmarie Iannucci 4th March 2020 Takeover target Universal Coal and suitor TerraCom have agreed to adjourn a general meeting of Univesal’s shareholders while the two companies conduct a legal battle. TerraCom has previously called for the general meeting in a bid to remove Mark Eames, Tony Weber and Henri Bonsma as directors of... →
Exxaro maintaining safety drive
By: Tasneem Bulbulia 3rd March 2020 Diversified miner Exxaro Resources on Tuesday marked its yearly Sustainability Summit with a three-year fatality-free milestone. This achievement was highlighted as particularly notable, considering the number of expansion projects completed by the company in the past year, and the considerable... →
Cosatu urges private pension use to help to save Eskom 
By: Bloomberg 3rd March 2020 South Africa’s biggest labour federation said private pensions must be used alongside those of government workers as part of a plan to rescue the state power company from crippling debt and spur economic growth. The Congress of South African Trade Unions (Cosatu) advocated the use of so-called... →
Swanepoel steps down as ARM director
By: Creamer Media Reporter 3rd March 2020 Bernard Swanepoel has stepped down as an independent nonexecutive director of diversified miner African Rainbow Minerals (ARM). Independent nonexecutive ARM director and investment committee member David Noko has been appointed ARM’s investment committee chairperson with immediate effect. →
Medupi's killer fumes: The story of a power station's missing air scrubbers
By: News24Wire 3rd March 2020 Eskom's megapower station Medupi is suffocating South Africa in more ways than one: It is not just a financial black hole; it is also a health and environmental catastrophe. And the installation of crucial technology to make it less poisonous has once again been delayed. For years, Eskom has... →
Universal Coal provides guidance for 2020
By: Marleny Arnoldi 2nd March 2020 ASX-listed Universal Coal is confident in its expected return to profitability, targeting A$73-million of earnings before interest, taxes, depreciation and amortisation (Ebitda) for the 2020 financial year. The company achieved Ebitda of A$24-million in the six months ended December 31, 2019,... →
Coal India faces challenges in finding merchant bankers for planned overseas acquisitions
By: Ajoy K Das 28th February 2020 State-miner Coal India Limited’s (CIL’s) planned investment in overseas coal assets is facing stiff speed-breakers, with global merchant bankers unwilling to take up an advisory and due diligence mandate of so-called ‘dirty fuel’. Last year, the miner floated a tender to appoint merchant bankers... →
Eaves to chair Arch Coal board, new CEO named
By: Mariaan Webb 28th February 2020 NYSE-listed Arch Coal on Friday announced that COO Paul Lang would succeed John Eaves on April 30, when he becomes the chairperson of the coal company’s board of directors. James Chapman, who has served as Arch's board chair since the company completed its restructuring process in October 2016,... →
South Africans working together will find energy solutions – ARM
By: Martin Creamer 28th February 2020 South Africans working together with confidence and enthusiasm will improve the country and find energy solutions, African Rainbow Minerals (ARM) executive chairperson Dr Patrice Motsepe said on Friday. Presenting a 25% higher interim dividend and a 193%-better performance from ARM Platinum in... →
Maamba moves power plant pumps to keep Zambia powered
By: Marleny Arnoldi 28th February 2020 Zambia’s Maamba Collieries has relocated water pumps to a new location in the Kariba lake, to provide water for the boilers of its 300 MW coal-fired power plant. The company said in a release on Friday that this was necessitated by falling water levels in the Kariba lake. →
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