“Perfect storm’ afflicts CoAL’s share price
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.
CoAL hit by 22% wage increase demand
Coal of Africa’s Mooiplaats colliery has been hit by a strike over wages, the company
says, sending the group’s share price to a new low.
Forbes Coal buys Rio Tinto’s ZAC
Forbes & Manhattan Coal is buying global diversified miner Rio Tinto’s majority stake
in Zululand Anthracite Colliery for an estimated R440m.
SA gives cautious “yes’ to shale gas
SA has given a conditional green light to the exploration of shale gas in the Karoo
and will assess every step towards full scale hydraulic fracturing for possible
"unacceptable outcomes'.
Coal industry “in flux’
The search for new coal markets has become a matter of urgency for producers
across the globe, says market analysts IntierraRMG.
Wescoal signs R700m Eskom supply pact
Wescoal, the junior coal miner, has signed a R700m, three-year coal supply
agreement with Eskom.
Jindal completes $116m swoop on CIC Energy
In a move that may provide fresh momentum to Botswana’s coal industry, Jindal
Africa has concluded the takeover of CIC Energy Corporation.
Lower sales, prices hurt Uranium One’s earnings
Uranium One’s quarterly earnings have fallen 2% as it sold less uranium at
lower prices.
ContiCoal targets Q4 output from Penumbra
Continental Coal said production from its third mine, Penumbra, would begin in the
fourth quarter of 2012.
TFR lifts RBCT deliveries, but still falls short
Transnet Freight Rail delivered 500,000 tonnes more coal to the Richards Bay Coal Terminal in July but fails to meet the 7.7 million tonnes forecast by the transport and logistics utility.