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Glencore Reports Mixed Q1 Output as Copper Rises and Coal Production Declines 1 International Coal Copper Corporate News 

Glencore Reports Mixed Q1 Output as Copper Rises and Coal Production Declines

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Glencore Q1 Results: Copper Output Up 19% While Coal Production Falls 22% Amid Weather and Operational Disruptions Diversified mining and commodities group Glencore reported mixed production results for the first quarter, with strong growth in copper output offset by declines in steelmaking coal and cobalt production, alongside stable performance in other segments. Steelmaking coal output falls sharply Glencore’s steelmaking coal production fell 22% year-on-year to 6.5 million tonnes. The decline was driven by pit sequencing changes at Elk Valley Resources in Canada, adverse weather conditions in Queensland, Australia, and a… Read More Here
Dangote Group Seeks Partnership with Zambia to Boost Energy Supply and Local Value Addition 2 Mining in Zambia Coal Energy 

Dangote Group Seeks Partnership with Zambia to Boost Energy Supply and Local Value Addition

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Aliko Dangote Meets President Hichilema to Discuss Coal, Energy Investment, and Industrialization in Zambia The Dangote Group has expressed its readiness to partner with Zambia to harness the country’s coal deposits as part of efforts to help address the national electricity deficit. Group President Aliko Dangote met with President Hakainde Hichilema at State House to discuss potential collaborations focused on adding value to Zambia’s raw materials and expanding energy production. Mr. Dangote emphasized the Group’s interest in working with the Zambian government to promote local processing before export, noting that… Read More Here
Glencore International Coal 

Glencore Maintains Production Guidance Amid Coal Business Acquisition

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Multinational mining company Glencore has maintained its 2024 production guidance for most of its metals but has separated its coal production figures following its acquisition of a 77% interest in the steelmaking coal business EVR from Teck Resources. The company is expected to announce its decision regarding a potential demerger of its coal assets in its upcoming half-year financial review next week. Glencore completed the acquisition of EVR on July 11, 2024, a move anticipated to boost its steelmaking coal production to between 19 and 21 million tonnes. CEO Gary… Read More Here
Anglo American Lowers Coal Production Guidance Following Grosvenor Mine Fire 3 International Coal 

Anglo American Lowers Coal Production Guidance Following Grosvenor Mine Fire

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Diversified major Anglo American has revised its coal production guidance for the year due to the impact of a recent fire at the Grosvenor underground mine in Australia. As a result of the incident, Anglo has lowered its steelmaking coal production forecast to between 14 million and 15.5 million tonnes, down from the previous guidance of 15 million to 17 million tonnes. The fire, which occurred at the end of June, led to a suspension of production at Grosvenor. According to a statement released by Anglo on Thursday, efforts are… Read More Here
China's Coal Imports Surge 12% in June Amid Heatwave-Induced Demand 4 Coal International 

China’s Coal Imports Surge 12% in June Amid Heatwave-Induced Demand

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China’s coal imports rose by 12% year-on-year in June, driven by a surge in electricity demand due to extreme heatwaves, according to customs data released on Friday. The General Administration of Customs reported that China imported 44.6 million metric tons of coal in June, up from 43.82 million tons in May. Record high temperatures in northwest and east China in June increased electricity demand as people relied heavily on air conditioning to stay cool. The country has warned that it faces longer and hotter heat waves due to climate change.… Read More Here
Zambia Approves Construction of Second Coal-Fired Power Plant Amid Energy Crisis 5 Mining in Zambia Coal Infrastructural Development 

Zambia Approves Construction of Second Coal-Fired Power Plant Amid Energy Crisis

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Zambia’s Energy Regulation Board has approved the construction of a second coal-fired power plant as the country faces its worst drought in decades, which has significantly reduced output from its hydroelectric dams that supply the majority of its energy. The new 300 MW facility will be built in the southern region of Zambia, doubling the capacity of an existing plant at the site, according to a statement released on Monday. Maamba Collieries, primarily owned by Hyderabad, India-based Nava, will lead the project. Zambia generates about 85% of its power from… Read More Here
Anglo American Weighs Options for Coal Business Sale Amid Mine Explosion Setback 6 International Coal 

Anglo American Weighs Options for Coal Business Sale Amid Mine Explosion Setback

Constance
Anglo American is exploring options to proceed with the sale of its coal business following an explosion at its flagship Australian mine. The company may consider selling individual assets or excluding the damaged operation from a potential deal. This sale is part of a significant restructuring program announced earlier this year by Anglo American as the London-based miner sought to fend off a takeover bid by larger rival BHP Group. The company also plans to spin off its platinum unit and either sell or separate diamond miner De Beers. Initially,… Read More Here
JSW Steel to Acquire Majority Stake in Mozambique's Minas de Revuboe 7 International Coal 

JSW Steel to Acquire Majority Stake in Mozambique’s Minas de Revuboe

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Indian multinational JSW Steel has approved the acquisition of Minas de Revuboe (MDR), a mining company in Mozambique’s central province of Tete, to secure high-quality coking coal for steel production. JSW Steel’s subsidiary, JSW Natural Resources Limited, will purchase a 92.19 percent equity stake and shareholder loans of MDR for $73.75 million, as reported by the Indian news agency IANS. This acquisition will provide JSW Steel access to premium hard-coking coal reserves in the Moatize Basin, a significant coal-producing region in Tete. The acquisition is subject to approval from Mozambique’s… Read More Here
Glencore to Consult Shareholders on Future of Coal Business Post Teck Resources Acquisition 8 International Coal 

Glencore to Consult Shareholders on Future of Coal Business Post Teck Resources Acquisition

Constance
Glencore will begin consulting with shareholders regarding the future of its coal business once its deal to acquire Teck Resources’ coal mines is finalized later this year. Crucially, Glencore has indicated that if a majority of shareholders support retaining its coal mines, the company will not proceed with a vote on the matter. Glencore’s coal division has been one of its most profitable segments, driving record returns in recent years. The plan to exit fossil fuels and list a new company in New York marked a significant strategic shift under… Read More Here
China's Coal Output Faces Challenges Amid Safety Checks and Increased Demand 9 International Coal 

China’s Coal Output Faces Challenges Amid Safety Checks and Increased Demand

Constance
China’s coal production growth for this year is expected to be in the range of -1% to 1%, a revision from the previously forecast 1% expansion, according to Li Xuegang, deputy chairman of the China Coal Transportation and Distribution Association (CCTD). Speaking at a seminar on Wednesday, Li highlighted the difficulties facing the industry. In 2023, China, the world’s largest coal producer, mined 4.66 billion metric tons of coal, marking a 2.9% year-on-year increase, according to the National Bureau of Statistics. However, meeting the production target for 2024 is proving… Read More Here

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