Guptas snap up Optimum Coal for R2.15bn
The Gupta family have bought Optimum Coal Mine out of business rescue through associate business Tegeta with Glencore advancing R400m to secure the deal.
Lurco-Burgh buy Exxaro’s Inyanda colliery
Lurco-Burgh, a joint venture between unlisted businesses, intends to beneficiate 25 million tonnes of coal in five years through the Inyanda Beneficiation Complex.
CoAL signs MoU to sell $114m stake in Makhado
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
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
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
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
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
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
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
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.