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Category: Coal

JSW Steel to Acquire Majority Stake in Mozambique's Minas de Revuboe 1 International Coal 

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

Constance
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 2 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 3 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
China's April coal output falls to lowest level since Oct 2022 4 International Coal 

China’s April coal output falls to lowest level since Oct 2022

Constance
China’s coal production in April fell to its lowest level since October 2022, statistics bureau data and Reuters records showed on Friday, as continuing mine safety inspections curbed output. Output was 371.67-million metric tons last month, down 2.9% from a year earlier, according to the National Bureau of Statistics. That was also down 7% from March. Lower output from China’s coking coal hub of Shanxi weighed on output after the local government ordered a series of safety checks during March-May following an uptick in deadly accidents, and told miners to… Read More Here
China Boosts Coal and Gas Imports as Summer Approaches 5 International Coal 

China Boosts Coal and Gas Imports as Summer Approaches

Constance
China is capitalizing on lower international prices for coal and natural gas to bolster its stockpiles of power fuels in preparation for another hot summer. Gas imports surged by 21% through the end of April compared to the previous year, while coal purchases saw a 13% increase. This spike in coal imports defied expectations of a moderation from last year’s record-setting pace, despite domestic production experiencing its first quarterly drop since the third quarter of 2020. Coal miners are facing challenges such as heightened safety scrutiny following fatal accidents and… Read More Here
China's Coal Consumption Expected to Drop by One-Third by 2040 6 International Coal 

China’s Coal Consumption Expected to Drop by One-Third by 2040

Constance
A recent report by European consultancy DNV has projected that China’s coal consumption will decrease by approximately one-third by 2040, posing a challenge to global climate targets aiming to phase out coal use by the same year. While the International Energy Agency emphasizes the necessity of eliminating global coal power capacity by 2040 to curb temperature rises within the 1.5-degree Celsius threshold, DNV’s findings diverge, indicating a minor increase in China’s coal consumption over the next two years followed by a gradual decline. Despite a significant surge in renewable energy… Read More Here
Transparency Concerns Arise Over ZESCO's $160M Debt Write-off to Maamba Collieries Limited 7 Mining in Zambia Coal Electricity 

Transparency Concerns Arise Over ZESCO’s $160M Debt Write-off to Maamba Collieries Limited

Constance
In a recent development, Maamba Collieries Limited (MCL), Zambia’s largest coal mine and the leading Independent Power Producer (IPP), remains tight-lipped regarding the controversial $160 million debt write-off extended to them by the state-owned power company, ZESCO. This write-off, following a lengthy period of dispute and negotiation, has raised eyebrows and sparked speculation about potential corruption and overbilling. The debt between MCL and ZESCO had ballooned to over $600 million by 2021, as ZESCO disputed the charges, leading to prolonged negotiations. However, a recent statement from ZESCO’s Managing Director, Victor… Read More Here
China to build more coal mines to feed surging power capacity 8 International Coal 

China to build more coal mines to feed surging power capacity

Constance
China’s National Development and Reform Commission announced plans to increase coal mining to bolster domestic supply and control price surges. The policy paper, released last week, outlines targets to add approximately 300 million tons of annual mining capacity by 2030 for “emergency storage reserves.” Qualified miners, particularly in key regions like Shanxi, Inner Mongolia, Shaanxi, and Xinjiang, will be encouraged to allocate up to 30% of the new capacity as backup reserves to mitigate price fluctuations. China has been leading a global resurgence in coal-powered capacity, contributing to about two-thirds… Read More Here
Zambia's Labour Minister Urges Safety Measures at Column Coal Mine for Workers' Health 9 Mining in Zambia Coal Mining safety Safety & Health 

Zambia’s Labour Minister Urges Safety Measures at Column Coal Mine for Workers’ Health

Constance
Brenda Tambatamba, the Minister of Labour and Social Security, has advised management at Column Coal Mine in Sinazongwe district to avoid conducting mining operations near residential areas to mitigate health risks among workers. During her inspection of workers’ housing at the Collum Coal Mine as part of her ongoing labour inspections in Southern province, Ms. Tambatamba emphasized the importance of ensuring a safe distance between mining activities and residential zones to safeguard workers’ health. Additionally, the Minister urged management at the coal mine to enhance the living conditions of the… Read More Here
Mozambique: Over 13 million tons of coal transported to port of Nacala via Malawi 10 International Coal 

Mozambique: Over 13 million tons of coal transported to port of Nacala via Malawi

Constance
More than thirteen million tons of coal (13,639,000) were transported from Moatize in Tete to the port of Nacala via Malawi during the past year. The coal was transported under a concession agreement between the former Vale Logistics Limited, now Vulcan Logistics Limited, and the Malawian government, which allows coal trains to pass through the country to Nacala. In addition to the volume of cargo handled, Malawi has experienced significant development and strategic positioning for the future in railway development, particularly od effective regional integration. According to the Director of… Read More Here

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