SOUTH32
Exxaro sells Moranbah South to Aussie miner for R1.68bn
- David McKay
MINING
SA power pricing shake-up set for public comment
SOUTH Africa is proposing its biggest overhaul of electricity pricing policy in almost two decades, with reforms designed to give commercial and industrial customers greater certainty over future costs and…
DEBT
BHP, NexGen in uranium talks
Canadian uranium miner NexGen Energy is in regular discussions with BHP about its Rook I project in Saskatchewan as it prepares to raise $1 billion to help fund the development, Reuters reported. NexGen CEO…
RICHARDS BAY
Thungela ready to tap extra rail capacity with third-party coal
Thungela Resources could use further improvements in Transnet Freight Rail (TFR) capacity to move more third-party coal to Richards Bay, as its South African mines are already operating close to their…
COAL
Glencore, BHP may benefit as China turns to Western coal
THE fatal gas explosion at the Liushenyu Coal Mine in China’s Shanxi province last week could see improved demand for Australian and Canadian metallurgical coal, potentially benefiting BHP and Glencore, said…
DEMOCRATIC REPUBLIC OF CONGO
Mantengu announces reverse takeover by UAE energy firm
MANTENGU Mining effectively brought the curtain down on five years of breathlessly controversial activity on the JSE announcing today its takeover by Averi, a UAE company specialising in African finance,…
DIAMONDS
Anglo unveils new deal to sell Aussie coal mines for $3.86bn
ANGLO American today announced the sale of its remaining steelmaking coal assets in Australia, a critical step in a restructuring unveiled two years ago to the month. Anglo said Dhilmar Limited, a privately…
COAL
Coal demand surges as Middle East conflict disrupts gas
GLOBAL coal imports are on course for their third-highest monthly total on record this May as the Middle East conflict forces Asia and Europe to switch from oil and gas supplies disrupted by fighting in the…
KUMBA IRON ORE
Exxaro Resources is breaking from its iron shackles
THERE has always been a tight correlation between the share prices of Exxaro and Kumba Iron Ore. That’s because Exxaro’s 20% stake in Kumba subsidiary Sishen Iron Ore Company (SIOC) contributes just over half…
COAL
China’s KDG completes takeover of JSE’s MC Mining
THE Hong Kong listed Kinetic Development Group (KDG) has completed the takeover of ASX and JSE listed coal producer MC Mining in which it now holds a 51% stake following finalisation of the second tranche of…
MINING
Coal miner Thungela digs in over shareholder rights
IT’S necessary to state from the outset that the current legal battle between Aeon Investment Management, Fossil Free SA and shareholder activist Just Share on the one side and coal producer Thungela on the…
SOUTH AFRICA
MC Mining advances Makhado but shuts Uitkomst
MC Mining is pushing ahead with development of the Makhado hard coking coal mine in Limpopo and expects to begin hot commissioning activities and the start-up of the Coal Plant during May this year. This…
SOUTH32
South32 and Eskom in talks over Hillside smelter power supply following closure of Mozal
South32 and Eskom have stepped up negotiations to establish a new electricity supply agreement for the Hillside Aluminium smelter in Kwa-Zulu Natal following the closure of the group’s Mozal smelter in…
NUCLEAR POWER
Huge uncontracted nuclear utility needs are good news for uranium
TERM contracts for uranium entered into between nuclear utilities and uranium miners have been strengthening consistently for the past five years, and will continue to drive the outlook for uranium prices,…
NAMIBIA
Paladin upgrades uranium guidance from Langer Heinrich
PALADIN Energy said on Friday it aimed to produce more uranium oxide from its Langer Heinrich mine in Namibia that previously forecast following a strong operational performance in the March quarter.…
MORGAN STANLEY
Why SA coal export prices haven’t shot the lights out
SHARES in Thungela Resources have surged 80% in six months, driven mostly by the US/Israel attack on Iran in late February, which is when the coal miner’s valuation received its decisive upward push. Since…