Tuesday, July 17, 2018

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.

Low uranium prices may lead to a delay in the R3.5bn Rand Uranium mine on the west Rand while other uranium projects are also pending.

Optimum Coal has taken Eskom to arbitration in a bid to cancel the supply contract between the Optimum Colliery and Eskom's Hendrina power station because of a dispute over coal quality.

Optimum Coal Holdings has been hit by lower export prices for coal and the stronger rand.

Resource Generation took an important step forward in developing its Boikarabelo coal mine in the Waterberg after signing an offtake agreement.

Eskom has dismissed claims that SA faces a dire situation because of delays with the Medupi power station.

A farm swap between Rio Tinto, the UK miner, and Coal of Africa Ltd has been approved which CoAL boss John Wallington said would lead to larger project developments.

A solid set of results despite difficult trading conditions has put Petmin in the position where it could declare a maiden dividend while investing R120m at its Somkhele anthracite mine.

The Gulf of Mexico oil spill involving British petroleum giant BP continues to dig into the company's pockets having cost about $8bn since April.