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Moody's sees US coal miners' earnings halve this year

By: Mariaan Webb     Updated 6 hours ago The outlook for the North American coal industry remains negative and earnings for coal miners could fall by more than 50% this year, says Moody’s Investor Service. The ratings agency says the coronavirus pandemic has worsened the outlook for the sector. "Domestic demand for thermal coal for... 

ANC looks for new levers to boost South Africa’s economy

By: Bloomberg     1st June 2020 The head of economic transformation in South Africa’s ruling party proposed a range of measures to bolster the economy, ranging from encouraging the use of pension funds and the central bank to finance infrastructure spending to the creation of a state bank and pharmaceutical company. Enoch... 

Minister urges mines to test without fear of mine closure 

By: Martin Creamer     29th May 2020 Mineral Resources and Energy Minister Gwede Mantashe on Friday urged mines to test for Covid-19 to the full extent without fearing mine closure. The Minister was responding to a media question on the steps the Department of Mineral Resources and Energy (DMRE) was taking to end the backlog of... 

Raubex divisions see return to profitability

By: Simone Liedtke     29th May 2020 Infrastructure development and construction materials supply group Raubex managed to maintain sufficient capacity to participate in any improvement in the sector, while simultaneously undertaking rightsizing initiatives has seen the company’s roads and earthworks division return to profitability.... 

Contract worker killed at South32 subsidiary’s colliery

By: Marleny Arnoldi     29th May 2020 Diversified miner South32 has reported that an employee of a contract mining company, Modi Mining, died following an accident at subsidiary South Africa Energy Coal’s Ifalethu Colliery, on May 27. South32 on May 29 said the area where the incident occurred had been immediately secured and the... 

Basto to run BHP’s Australian mines

By: Mariaan Webb     22nd May 2020 Edgar Basto has been promoted to president of mining major BHP’s entire suite of Australian operations, including iron-ore, coal, nickel and copper, with effect from July 1. The Colombia-born executive previously headed BHP’s Western Australia iron-ore business and is filling the position left... 

Applied Mineral Technologies

22nd May 2020 Established in 2001, South African materials handling systems and processing plants construction company Applied Mineral Technologies (Amtec) has come a long way from being a consultancy to a fully fledged industrial construction company. Amtec specialises in civil, structural, mechanical, piping... 

A$1bn Olive Downs a step closer to development

By: Esmarie Iannucci     14th May 2020 The A$1-billion Olive Downs metallurgical coal mine being developed by Pembroke Resources in Queensland, has received approvals from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (EPBC) Act. Pembroke said on Thursday that... 

Lender says Murray Energy violated deal in ‘brazen’ loan default

By: Bloomberg     14th May 2020 Murray Energy allegedly violated a bankruptcy financing agreement after manipulating financial information, according to court papers filed by one of its lenders. GACP Finance, owed some $90-million under a loan tied up in Murray Energy’s bankruptcy financing package, delivered a notice of... 

Polish coal producer to cut pay and hours by 20% in May

By: Reuters     8th May 2020 Trade unions at Poland's biggest coal producer, State-run PGG, have agreed to the company reducing hours and pay by 20% in May, which would make PGG eligible for government help. Poland generates most of its electricity from coal but demand for power has slumped due to the new coronavirus... 

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