Poland's Tauron will cut hours and pay by 20% in its three coal mines for three months from May, making it eligible for government help during the new coronavirus crisis, the state-run utility said on Wednesday.
Coal miner Tigers Realm Coal has maintained its production guidance for the 2020 financial year of 550 000 t, as its operations in Russia remained unaffected by impacts from the Covid-19 pandemic.
The directors of takeover target Stanmore Coal have urged shareholders to accept a takeover offer from shareholder Golden Investment.
Golden Investment is offering Stanmore shareholders A$1 a share in cash for all of their shares held, and since launching its offer in April, the company’s interest in Stanmore has increased from just over 31% to 52.41%.
Coal developer Allegiance Coal has once again reduced the projected start-up capital for its New Elk coal mine, in Colorado.
The ASX-listed miner on Wednesday said that a review of the mine plan by independent engineers Stantec has reduced the start-up capital estimate from $40-million to $24-million.
South Africa-focused coal miner Universal Coal has reported an 11% increase in run-of-mine (ROM) production for the March quarter, and a 16% increase is sales volumes, compared with the previous corresponding period.
The Association of Mineworkers and Construction Union (Amcu) says it is ready to appear in the Labour Court on April 29 to defend its urgent application requesting that the Department of Mineral Resources and Energy (DMRE) set minimum standards for health and safety of mineworkers during the scourge of the Covid-19 pandemic.
Mongolia has scrapped an executive order calling for its giant Tavan Tolgoi coal project near its southern border with China to be funded through an international initial public offering, the country's cabinet said.
Coal miner Stanmore Coal has warned shareholders that its underlying earnings before interest, tax, depreciation and amortization (Ebitda) for the full 2020 will be impacted by the Covid-19 pandemic.
The miner has revised its underlying Ebitda expectations for the full year from between A$92-million and A$100-million to between A$80-million and A$85-million.
Although the RB1 benchmark fell slightly on the week, the off-spec grades have seen some resilience. Yet again Rand weakness is helping miners to weather the storm, but this only really helps for higher grade material. There is almost nowhere other than Eskom for low-grade material to go, incurring almost the same production costs as the higher grades.
Junior De Grey Mining will raise A$31.2-million through a share placement to fund its ongoing exploration work at its Mallina gold project, in Western Australia.