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CoAL signs MoU to sell $114m stake in Makhado

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Coal of Africa has signed a memorandum of understanding to sell a 34% stake in its Makhado project for $114m to China's Qingdao Hengshun Zhongsheng Group.

Exxaro mine in peril after Eskom coal talks fail

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Eskom will seek a new coal supply agreement for its Arnot power station after failing to reach terms with Exxaro - a development that could imperil Arnot mine.

Exxaro claims Eskom ordered Arnot closure

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Exxaro Resources said it had been instructed by Eskom to shut the 1.4 million tonne/year Arnot coal mine and that the utility was the owner of the operation.

Eskom’s Molefe heartened by yield turnaround

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Eskom bond yields relative to Transnet have narrowed significantly this year which is evidence the power utility is stabilising its financial position.

CoAL launches R1.29bn bid for Universal

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Coal of Africa has bid cash and shares for the 4.5 million tonne/year coal producer, Universal Coal, trumping an earlier offer by IchorCoal.

Jury ousted as Resgen investors stage coup

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Resource Generation shareholders Altius Investment Holdings and Noble Resources kick out CEO Paul Jury and overhaul the coal development firm's board.

Executive pay vote shows Wescoal has work to do

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Shareholders voted down a resolution for non-executive pay at Wescoal Holdings demonstrating that it has work to do in structuring the board correctly.

Keaton content to sit out market torpor

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Keaton Energy booked a steep loss for the first half of its financial year but said it had flexibility that positioned it well to sit out difficult market conditions.

Eskom may divert Medupi coal to Hendrina

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Brian Molefe, CEO of Eskom, floated the idea of accepting coal from Exxaro's Grootegeluk mine destined for Medupi and diverting it to Hendrina power station.

Eskom’s Majuba silo collapse a ‘design fault’

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The collapse of a coal silo at Majuba power station was judged to be a design fault with no negligence imputed to the either the engineers or constructors.