To cope with peaking electricity demand during the summer months ahead, India’s Coal Ministry has directed State-run Coal India Limited (CIL) to ensure that each thermal power plant has assured stocks of 20 days on any given day.
Construction major Aveng has appointed Jerome Govender MD for Moolmans – Aveng’s mining arm and one of the company’s two core businesses – effective April 1.
Miner KGHM will extend negotiations with a union at its Chilean copper mine Sierra Gorda, averting a strike, a union representative said on Tuesday.
The company had until the end of Tuesday to request government mediation to help reach a deal with the union of 520 workers.
Coal developer Paringa Resources has secured a $56-million debt facility to refinance its existing debt facility and accelerate the expansion of the Poplar Grove mine, in Kentucky.
The debt financing from Tribeca Global Resources Credit will be subject to the completion of a due diligence, the completion of documents and the satisfaction of conditions precedent.
Coal mining company Canyon Coal, a Menar group company, is prepared to offer coal to State-owned electricity utility Eskom at a cheaper price on an open-book basis from two new projects. The Menar group, which does not supply coal to Eskom at present, employs 3 500 people on a R7-billion asset base that includes Canyon Coal, Kangra Coal and Zululand Anthracite Colliery (ZAC).
Coal miner New Hope has reported a 21% jump in revenue for the half-year ended January, while profits jumped by 33% on the previous corresponding period.
Takeover target Alto Metals has revealed that its major shareholders, holding a combined 32.12% of the company, would not accept a takeover offer from fellow-listed Middle Island.
Middle Island at the start of March revealed a proposed all-script takeover offer for Alto, offering five of its own shares for every one Alto share held.
Rio Tinto Group must face a US Securities and Exchange Commission (SEC) lawsuit over the company’s valuation of coal assets in Mozambique, a federal judge ruled.
A union at Chile's Sierra Gorda copper mine, controlled by Polish mining company KGHM, could go on strike this week after rejecting the latest offer in contract negotiations, the union leader told Reuters on Monday.
The company still has until the end of Tuesday to request government mediation to help reach a deal with the union of 520 workers.
In 1987, an anti-apartheid firebrand named Cyril Ramaphosa led South Africa’s biggest-ever mining strike. Some 300 000 miners – from a union Ramaphosa himself had founded – walked off the job, protesting pay and working conditions. The mining company “used fascist methods to destroy workers’ lives,” Ramaphosa declared.