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Exxaro still in talks over unwinding of BEE transaction

By: Megan van Wyngaardt     3rd May 2017 Exxaro and black-economic empowerment (BEE) partner Main Street 333 (MS333) have agreed an implementation agreement for the unwinding of their transaction, containing the salient terms of the replacement BEE transaction, it said on Wednesday. However, it pointed out that the unwinding was subject... 

Black Mountain Mining establishes Esop 

     26th April 2017 While mining companies Kumba and Exxaro have boasted successful employee share ownership plans over the last few years, Vedanta’s Black Mountain Mining has established a 7-year plan for its employees. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the payouts. 

R2.3bn Anglo coal sale to Seriti may hit Eskom ownership snag 

By: Martin Creamer     10th April 2017 A new aspirant South African mining champion on Monday announced its intention to purchase Anglo American’s Eskom-tied domestic thermal coal operations in South Africa, which would position the majority black-owned start-up as the potential second-largest provider of coal to the State electricity... 

Delayed legislation stopping mining from firing on all cylinders – Exxaro 

By: Martin Creamer     9th March 2017 South Africa’s economic growth remains inadequate to drive the changes required for the country’s socioeconomic challenges and the continued delay in the promulgation of key minerals legislation is deterring the investment required to make South Africa’s mining industry fire on all cylinders,... 

Exxaro to post attributable earnings of up to R6bn

By: Megan van Wyngaardt     2nd March 2017 Higher net operating profit from its coal mining business, paired with higher equity-accounted income from investments, will result in JSE-listed Exxaro Resources posting attributable earnings of between R5.17-billion and R6.08-billion for the year ended December 31. This compares with an... 

Employee dies in converyor belt incident at Exxaro’s Matla mine

By: Megan van Wyngaardt     2nd March 2017 The National Union of Mineworkers (NUM) has expressed concern about the number of fatalities occurring in the mining industry, after an employee at Exxaro’s Matla mine Shaft 2, Sibongiseni Majozi, was killed in a conveyor belt-related incident on Tuesday. "We are concerned that these fatalities... 

Cape Lambert sells Mayoko royalty

By: Esmarie Swanepoel     13th February 2017 ASX-listed resources and investment group Cape Lambert Resources has sold its royalty in the Mayoko iron-ore project, in the Republic of Congo, for A$1-million. The Mayoko royalty was negotiated by Cape Lambert as part of its consideration when it sold the project to African Iron in 2011, with... 

Exxaro CEO calls for nation to rethink BEE ownership, warns not to repeat past mistakes

By: Kim Cloete     8th February 2017 A new way of looking at black economic empowerment (BEE) ownership is needed to avoid the “pain and frustration” that has been experienced in the past, suggests Exxaro CEO Mxolisi Mgojo. “As leaders of one of the country’s largest employers, we should reassess current empowerment initiatives . .... 

Exxaro will support any ‘sustainable’ plan for restarting Arnot 

By: Terence Creamer     26th January 2017 Mining group Exxaro says it will be guided by Eskom on the future of the Arnot coal mine, in Mpumalanga, which was closed after Eskom’s contentious December 31, 2015, decision not to renew a 40-year coal supply agreement (CSA) with Arnot, an Eskom-tied mine operated by Exxaro. The termination of... 

Exxaro concludes R3.6bn share repurchase scheme

By: Natasha Odendaal     17th January 2017 JSE-listed Exxaro on Tuesday said all conditions precedent to the specific repurchase of shares from its black economic empowerment (BEE) partner Main Street 333 (MS333) have been met. Exxaro will acquire nearly 44-million ordinary shares from MS333 in a deal valued at around R3.5-billion. 

Anglo American to sell stake in Exxaro

By: Henry Lazenby     1st December 2016 Global diversified miner Anglo American announced Wednesday that it would sell its 9.7% stake in South African miner Exxaro, using the proceeds to reduce debt. Exxaro’s controlling black economic empowerment shareholder, Main Street 333, will also sell its Exxaro stake, Anglo American stated. 

Exxaro forecasts higher coal sales, production by year-end

By: Megan van Wyngaardt     23rd November 2016 South African coal producer Exxaro expects thermal coal production from its commercial mine to increase by 6% year-on-year in the second half of its financial year, owing to the inclusion of Exxaro Coal Central (ECC) before the 2016 financial year end. However, the JSE-listed miner noted that... 

Exxaro over the moon on independent coal power selection

By: Martin Creamer     12th October 2016 The selection of Thabametsi as a preferred independent coal-fired power project has delighted black-owned mining company Exxaro, which will chip in a R3-billion first phase coal mine to supply 3.9-million tons of coal a year for 30 years to its power plant partners. Energy Minister Tina... 

Exxaro concludes Inyanda sale to Burgh, Lurco

By: Megan van Wyngaardt     4th October 2016 The Competition Commission has approved the acquisition of the Inyanda colliery by a consortium comprising Burgh Group and Lurco Group from Exxaro. Burgh and Lurco will continue to use the Inyanda plant, situated in the eMalahleni district in Mpumalanga, for coal beneficiation and foresees the... 

Mine land, water should be used for agriculture – Exxaro 

     21st September 2016 Black-controlled mining company Exxaro recently pleaded for mine land and mine water to be used for community development through agriculture.  

On-The-Air (16/09/2016) 

By: Martin Creamer     16th September 2016 Black-controlled mining company Exxaro this week pleaded for mine land and mine water to be used for community development through agriculture; Anglo American Platinum has taken another firm step towards establishing the fuel cell as a new clean force in transport and electricity generation; The... 

Mine land, water should be used for agriculture – Exxaro CEO 

By: Martin Creamer     14th September 2016 The vast tracts of land and abundant water supply held by mining companies around their mines should be used for community development through agriculture. “We sit on land, vast land. We sit on water resources, where because of new legislative requirements, we have to make sure that we put in... 

Capital follows certainty, Cennergi warns amid IPP flux 

By: Terence Creamer     8th September 2016 South African independent power producer (IPP) Cennergi, which is a joint venture between Exxaro and Tata Power, warns of possible investor “flight” unless the prevailing uncertainty surrounding the future of IPPs in South Africa is urgently resolved. Speaking to Engineering News Online ahead of... 

Think long

By: Terence Creamer     15th July 2016 For some time now, State-owned electricity utility Eskom has been signalling that it intends overhauling the way it sources coal. Ever since Brian Molefe took over as CEO, he has questioned whether it is appropriate for Eskom to invest directly in mines through cost-plus supply contracts with... 

Gasification could reinvigorate coal mining – Mast-Ingle 

By: Martin Creamer     6th July 2016 Coal mining in Africa and in South Africa in particular could provide the key to powering up growth on the continent if the opportunity presented by recent developments in underground-coal-to-gas (UCG) technology is seized and implemented. Project management consultant and UCG thought leader... 

Vanderbilt Commercial to fund $30m Tango loan for Botswana project

By: Henry Lazenby     28th March 2016 California-based financial lender Vanderbilt Commercial Lending has presented TSX-V-listed Tango Mining with a proposal outlining a $30-million loan commitment to fund Tango’s acquisition and the capital required to restart the BK11 kimberlite diamond mine (BK11 mine), in Botswana. Pending... 

Coal baseload bidder expects IPP project evaluation to begin early April 

By: Terence Creamer     18th March 2016 One of the two bidders for the first round of South Africa’s Coal Baseload Independent Power Producer Procurement Programme (CBIPPPP), Marubeni, of Japan, expects the evaluation of bids to begin in April, following an initial delay in the Independent Power Producer (IPP) Office receiving the... 

Changes To The Board Of Directors Of Exxaro Resources Limited

     4th March 2016 In compliance with paragraph 3.59 of the Listings Requirements of the JSE Limited, shareholders of diversified resources group Exxaro are advised that Mr WA (Wim) de Klerk will, after much consideration and deliberation, be stepping down as Finance Director of the Company.  The Company’s Board of... 

De Klerk to step down as Exxaro FD

By: Megan van Wyngaardt     4th March 2016 Wim de Klerk will step down as FD of diversified resources group Exxaro at end-August. De Klerk was requested to, during this period, assist outgoing CEO Sipho Nkosi to coordinate the process of identifying and appointing a successor, as well as assisting with the transition process, finalising... 

Eskom, Exxaro infighting must end – NUM

By: Megan van Wyngaardt     4th March 2016 The National Union of Mineworkers (NUM) on Friday expressed its disappointment over the standoff between coal miner Exxaro and State-owned Eskom regarding the possible closure of Exxaro’s Arnot coal mine, in Mpumalanga, which was no closer to being resolved. This followed reports on Thursday that... 

Lower commodity prices impact Exxaro results

By: Megan van Wyngaardt     25th February 2016 As a result of the current weakness in the ferrochrome industry and the lack of demand for semi-coke products, JSE-listed miner Exxaro expects its headline earnings for the year ended December 31 to drop by between 65% and 73% – or R3.15-billion to R3.53-billion – year-on-year. The company also... 

Eskom CEO concedes price hike to impact economy 

By: Natasha Odendaal     5th February 2016 As public hearings continued into State-owned power utility Eskom’s request for higher electricity tariffs, CEO Brian Molefe on Friday conceded that a spike in prices would impact the entire economy. Eskom had applied for a 16% hike to recover the billions of rands it spent on diesel power... 

Mine fatalities reach all-time low, occupational disease incidences fall 3% 

By: Ilan Solomons     28th January 2016 In 2015 South Africa recorded its lowest-ever number of mine fatalities - 77, down from 84 the year before, Mineral Resources Minister Mosebenzi Zwane revealed on Thursday. Gold mines reported 33 fatalities in 2015 – an improvement on the 44 fatalities the year before; however, the number of... 

Cost-plus mines under scrutiny as Eskom rolls out new coal procurement strategy

By: Terence Creamer     26th January 2016 Eskom group executive for generation Matshela Koko reports that the utility has taken an in principle decision to migrate from investing in cost-plus coal mines, which are increasingly underperforming, to fixed-price coal contracts. Speaking exclusively to Engineering News Online, Koko also... 

Local JV to start coal beneficiation hub in Mpumalanga

By: Megan van Wyngaardt     8th December 2015 Coal beneficiation and the future supply of beneficiated coal for energy generation in South Africa has received a significant boost following a joint venture (JV) partnership between Lurco Group and Burgh Group for the acquisition and development of a coal beneficiation complex in the eMalahleni... 

Exxaro to continue talks with Eskom about Arnot mine closure 

By: Megan van Wyngaardt     2nd December 2015 Coal miner Exxaro is continuing discussions with parastatal Eskom to reach a joint closure solution for the Arnot mine, as prescribed in its coal supply agreement. The miner said in a statement late on Tuesday that during a high-level meeting between senior executives of the parties on November... 

Eskom on Arnot job losses: SA can't afford output costs

By: News24Wire      1st December 2015 Power utility Eskom has expressed concern over reports about the possible closure of Arnot coal mine and the job losses that would inevitably follow such a move, as well as anger with what it termed the leaking of confidential information. "Eskom is deeply concerned about the recent media reports... 

Exxaro likely to move more coal in FY2015; cuts expansion capex

By: Natalie Greve     20th November 2015 Coal and heavy minerals miner Exxaro expects coal production and sales volumes for the 2015 financial year to top that of the prior 12 months, noting in a market update this week that the scheduled ramp-up of the Medupi power station and the inclusion of coal output from Exxaro Coal Central (ECC)... 

Exxaro commissions R385m Grootegeluk coal slimes facility

By: Megan van Wyngaardt     13th November 2015 Coal and heavy minerals miner Exxaro has commissioned a R385-million, 4.6-million cubic metre, environment-friendly cyclic-operated coal slimes ponds facility at its Grootegeluk mine, in Lephalale. The facility, which comprised four ponds, provided unlimited capacity owing to continuous... 

Universal reports lower output in Sept quarter

By: Esmarie Swanepoel     30th October 2015 South Africa-focused coal miner Universal Coal has reported a 13% decline in run-of-mine (RoM) coal production to 686 900 t for the quarter ended September, compared with the 790 687 t delivered in the previous quarter. The lower production was owing to a reconfiguration of the Kangala colliery... 

Exxaro’s BEE shareholder secures IDC guarantee

By: Natasha Odendaal     23rd October 2015 Diversified miner Exxaro on Friday said its majority black economic-empowerment shareholder consortium Mainstreet 333 (MS333) had secured a R700-million guarantee from the Industrial Development Corporation (IDC). In July, Exxaro said it would provide MS333 a R400-million loan to repay a portion... 

Zwane calls on mining companies to provide more bursaries 

By: Megan van Wyngaardt     22nd October 2015 Mineral Resources Minister Mosebenzi Zwane on Thursday called on mining companies to offer more bursaries to students in need. Speaking at a housing project, launched by mining company Exxaro, Zwane appealed for the sector to contribute more toward funding education and skills development. 

Coal strike, wage talks continue

By: African News Agency      13th October 2015 Centralised collective bargaining discussions between National Union of Mineworkers (NUM) and coal producers continue on Tuesday, the Chamber of Mines said. Thousands of coal mine workers have been on strike for just over a week. 

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