Despite Covid-19-related global economic challenges and uncertainty, African Rainbow Minerals (ARM) on Wednesday reported record headline earnings of R5 039-million for the six months to December 31.
Diversified miner Glencore says the suggestion that it had involved President Cyril Ramaphosa, who used to be the chairperson of the Optimum coal mine, in the acquisition of Optimum Coal Holdings (OCH) with a view to, or with the expectation of leveraging his influence to achieve amendments to OCH's coal supply agreement (CSA) with power utility Eskom is "false and baseless"
JSE-listed coal miner Wescoal has advised that RBFT Investments has extended the timeframe of its offer to increase its shareholding in the company from 56.87% to 85%.
RBFT is a consortium that has the Industrial Development Corporation and Simeka Capital Holdings among its investors.
The federal government’s A$50-million Carbon Capture, Use and Storage Development Fund has officially been launched.
Deals among cashed-up mining companies are poised to pick up once lingering uncertainties from the pandemic dissipate, according to the most-active investment bank in the industry.
Barrick Gold CEO Mark Bristow said on Monday that a combination with copper miner Freeport McMoRan "had a lot of logic to it" even though a deal between the companies did not pan out.
Freeport CEO Richard Adkerson told Reuters on Thursday he has no desire to combine Freeport with Barrick or another gold producer.
China’s use of coal in its energy mix continued to decline in 2020, but more aggressive measures may be needed to reduce emissions in order to meet Beijing’s climate goals.
Coal miner Resource Generation (Resgen) reports that Phase 1 of its two phase strategic review that is considering alternatives for progressing development of its Boikarabelo project, in South Africa's Waterberg, has recently been completed.
The review was initiated in November.
A class action against a coal mine extension that begins on Tuesday could make it more difficult for coal mines to be approved in Australia on the basis of intergenerational equity and climate change, if the claimants prove successful.
Even as US coal production continues to slide, and domestic consumption is cut, it emerged that the United States was the major beneficiary of China’s ban on Australian coal imports from the fourth quarter of 2020. This was arguably more for coking coal than thermal coal, but it’s interesting to see the US play its traditional swing supplier role once more, along with Canada and Russia.