Wednesday, August 22, 2018

First Uranium shares are stuck near their 12-month low following unexciting results for the September quarter during which the ramp up at the Ezulwini mine was delayed.

Gold is justifiably hogging investors' attention, but the uranium market is looking interesting, judging from presentations made by producers at recent conferences.

Transnet Freight Rail's transportation of domestic coal from mines in the Mpumalanga province to Eskom's Majuba Power Station has grown by 36% from last year's throughput of 5.8 million tons, it said.

Despite perennial problems, coal mines can be great investments - if you get them at a decent price.

Sasol Mining has completed the Ixia Coal transaction, as part of the company's empowerment strategy, with WIPCoal Investments as the majority partner.

Following hard on the forced closure of parts of its Vele mining complex in Limpopo, the Australian-owned mining company Coal of Africa is in trouble again with the environment department in Mpumalanga.

South Africa's coal exports rose to 5.36 million tonnes in September from 4.16 million tonnes in the same month last year, boosted by higher deliveries by logistics group Transnet.

The Australian group Firestone Energy, which plans to develop coal projects in SA, has requested that trading in its shares be suspended.

Coal of Africa shares plunged on the JSE during trading on Friday as the year-end results revealed the financial impact of operating problems at its Mooiplaats colliery.

Transnet is on track to reach its long-term target of delivering 81 million tons per annum to Richards Bay Coal Terminal.