Diamonds to stay in Anglo Teck until anti-trust approval
IT was goodbye. As chair Stuart Chambers opened the interim results presentation recently for Anglo American, which is due to merge with Canada’s Teck Resources, he said: “I have…
Thungela ready to tap extra rail capacity with third-party coal
Thungela Resources could use further improvements in Transnet Freight Rail (TFR) capacity to move more third-party coal to Richards Bay, as its South African mines are already…
Thungela declares R5.50 interim dividend after stronger first half
Thungela Resources declared an interim dividend of R5.50 a share after reporting higher first-half earnings, supported by stronger coal prices and improved production. Earnings…
Coal miner Thungela digs in over shareholder rights
IT’S necessary to state from the outset that the current legal battle between Aeon Investment Management, Fossil Free SA and shareholder activist Just Share on the one side and…
Why SA coal export prices haven’t shot the lights out
SHARES in Thungela Resources have surged 80% in six months, driven mostly by the US/Israel attack on Iran in late February, which is when the coal miner’s valuation received its…
Thungela slides into full year loss after R8.8bn asset impairment
A HEFTY decline in coal export prices hit Thungela Resources hard in the 12 months ended December 31 resulting in an R8.8bn asset impairment. The impact of this was in evidence…
Pan African pays its way out of Aussie gold penalty
SOUTH African miners have made hay in Australia in recent years. Harmony Gold and Thungela Resources have bought mines in the country as local resources dry up. Gold miner Pan…
A crisis forever? How diamond miners are digging in
THE impending liquidation of Ekapa Mining following a deadly mudslide last month brings the curtain down on roughly 150 years of diamond mining in Kimberley, where the junior…
The day AngloGold was worth more than Anglo American
FOR a brief but delicious moment, AngloGold Ashanti was worth more than Anglo American, its former parent company. On November 27, AngloGold hit a record high of R748bn while…
Global shocks have debunked the peak coal myth
THE world burns nearly double the amount of coal today compared to 2000, and four times the amount consumed in 1950. Every minute, 16,700 tons of coal are excavated globally –…
Are banks becoming coal-curious? Mike Teke thinks so
ONE sign coal’s reputation is being gradually rehabiliated is that banks and insurers are becoming interested in the the mineral again. “I think people are reviewing their…
Coal decline risks poverty crisis, warns Thungela chief
THE uncontrolled decline of coal production poses a greater immediate threat to global communities than climate change itself, according to July Ndlovu, the outgoing CEO of…
Exxaro calls time on unsustainable Leeuwpan Colliery
A FORMAL Section 189 consultation has been launched with the relevant trade unions at Exxaro’s lossmaking Leeuwpan Colliery, which has become unsustainable in its current form,…
Thungela, the coal mining success no-one expected
STRICTLY speaking, Thungela Resources CEO July Ndlovu is retiring a year earlier than at the firm’s mandatory age of 60. In a twist of fate his papers were destroyed during…
Three things Miller has on his Valterra Platinum ‘to-do’ list
DEMERGERS should achieve three things: improve transparency, sharpen focus and satisfy not only existing shareholders but future ones. So said the Financial Times in reference to…
For better or worse, coal is here to stay as Asia lifts market share
THE thermal coal market has moved on since the energy security crisis sparked by Russia’s invasion of Ukraine. According to analysts, the outlook for thermal coal and the…
Thungela interested in leasing Sasol coal for export
THUNGELA was interested in exporting about two million tons of coal produced by Sasol, the Johannesburg-listed firm’s CEO said on Monday. Sasol said in February it was exiting…
Thungela coal exports back at full throttle as rail recovers
SOUTH African coal miner Thungela Resources forecast another strong export performance from the country this year amid “encouraging” signs from Transnet, the state-owned rail and…
SA coal exports rise for first time in seven years
COAL exports through Richards Bay Coal Terminal increased 10% in 2024 to 52.1 million tons compared to just over 49Mt a year earlier. This is the first time coal exports have…
Transnet books R2.2bn interim loss as operating expenses rise
TRANSNET, South Africa’s state-owned ports and rail company, posted an interim R2.2bn loss for the six months ended September, R600m worse than in the previous financial year.…