Tuesday, June 19, 2018

Strike action, depressed thermal coal prices and corporate uncertainty were the factors creating a perfect storm in Coal of Africa’s share price, an analyst said.

President of the Chamber of Mines, Mark Cutifani carried the standard for the industry saying Eskom's tariff application would results in more mine restructuring.

Petmin’s Somkhele anthracite mine in KwaZulu-Natal is back in production after the group’s mining contractor agreed to a restructuring of wage packages.

Uranium One has posted a third-quarter profit that beat analysts' estimates, helped by higher realised prices.

Trevor Manuel, chairman of the National Planning Commission, has urged development of a coal policy to help speed SA's economy, and said the mineral would remain central to the country's growth.

Four of five assets were deemed non-core while seven directors have also left the company as it remodels itself as a project development company.

Dutch commodity trading group, Vitol, may take a 9.1% stake in Toronto-listed coal exploration company, CIC Energy, according to a report by Reuters.

Tata Steel's European unit would have about 10% of its coking coal requirements supplied to it from Rio Tinto's new Mozambique coal mine, Benga.

Wescoal Holdings said it is to buy a domestic coal trading business for R79m that would double its current activities.

Firestone Energy has requested a suspension in the trading of its ASX and JSE-listed shares, expecting to announce a major restructuring by Wednesday.