All posts tagged with Coal
Glencore reports S. Africa losses on coal quality, rail
Glencore has written down its South African coal assets by $611m as the operations suffer quality issues and rail constraints. The mining and commodities trading group last week released its results for the half year ended in June, and swung into a $233m loss primarily due to impairments of which the South Africa coal write-downs were the largest. Read More
With lights back on, S.Africa embraces green transition
With South Africa’s power crisis now over, President Cyril Ramaphosa’s new government is again embracing an accelerated energy transition that could threaten future investment in the country’s coal industry. After two years struggling to keep the lights on, Eskom has gone more than 130 days without rotational power cuts, known as load shedding. The situation has improved so much that the state utility announced last week it had to cut operations because it was producing so much power. Read More
S. Africa president reappoints Mantashe mines minister
South African President Cyril Ramaphosa has announced his new Cabinet and reappointed Gwede Mantashe as mines minister, leaving him in charge of overseeing the coal and manganese industries but taking away Eskom from his portfolio. The new cabinet was eagerly anticipated following the formation of a Government of National Unity (GNU), which includes 11 political parties after the African National Congress lost its long-held majority in the national elections in May. Read More