Thursday, September 20, 2018

Coal of Africa confirms the Coalition, a grouping of environmentalists opposed to its mining at Vele Colliery in Limpopo province had withdrawn from an agreement.

Wescoal lost R43.7m in the year to March as it took a string of write-offs and impairment charges in its accounts.

Coal of Africa's Vele mine is at the centre of more controversy as the UN criticises South Africa's permitting regime at a World Heritage Committee meeting.

Riversdale Mining has requested a suspension in trading of its shares on the Australian Stock Exchange, as a takeover bid for the company is seemingly under way.

Keaton Energy CEO, Mandi Glad, said the firm would survive the downturn in the coal sector, especially following its streamlining.

Families resettled by Brazilian mining giant Vale in the Tete region of Mozambique have protested that the company had failed to keep promises it made to them in 2009.

Keaton Energy has reported across-the-board production increases from its operations in the financial year to end-March.

Anglo American was on the search for new assets in Australia, Indonesia and Mozambique as prices for potential targets had come down, said Norman Mbazima, head of the group's thermal coal business.

Continental Coal said it had received a bid of R786m from a new buyer but added that its planned A$35m rights offer had been heavily reduced to A$4m.

South Africa's government was increasingly relying on shale gas and construction of a third coal-fired power station as it seeks a way of avoiding a future energy crisis.