South Africa

Peabody Energy announced on Tuesday that it is reviewing all options in relation to its $3.78 Billion acquisition agreement with Anglo American, for some of the Australian steelmaking coal assets. This was after an ignition incident at a mine. The deal was signed in the last year, and it was expected to be completed by mid-2025. Media reports claim that production at Anglo American Moranbah North Mine, located in Queensland's Bowen Basin, Australia, was suspended last week after an underground fire broke-out at the mine. Peabody stated that it is in constant communication with Anglo American, to better understand its...

Executives from the South African petrochemical company Sasol announced on Monday that it is leaving the coal export market and starting a de-stoning program to improve the quality of the feedstock for its synthetic fuels and chemicals business. Sasol manufactures fuel and chemicals using coal and gas and exports about 2 million tonnes of fossil fuel each year. The quality of coal used in Sasol's Secunda operation has been low for many years due to the high content of stones. The company has been producing lower volumes of chemicals and fuels, consistently underperforming its historical output levels. Simon Baloyi, CEO...

Anglo American Platinum announced on Monday that it would pay an additional cash dividend of $856 million ahead of the planned spin-off into a separate unit. This is despite a 40% drop in profit to 8.4 billion Rands as the lower prices of platinum group metals continue to hurt earnings. Amplats, a Johannesburg-based company, said that the cash payment of 15.7 billion rands is an addition to its final dividend of 3 Rand per share in anticipation of its demerger from parent Anglo American. Amplats CEO Craig Miller told a media conference that the company will pay an additional dividend...

Scatec's CEO, who is a developer of renewables, said that cheaper solar power and batteries are increasing the role of these technologies in stabilising the energy system and offering more opportunities to renewables. Scatec, a Norwegian company, builds and owns renewable energy plants. Scatec has 4.2 gigawatts (GW) in operation, another 0.8 GW is under construction and 2 GW are near-term projections. Equinor is its largest shareholder. Scatec CEO Terje Piskog stated in an interview that solar panel prices had dropped by 66% and battery system prices by 58% over the past two years. This dramatic change has made renewable...

De Beers, the diamond division of Anglo American, said it had completed negotiations with Botswana for a new rough-diamond sales agreement as well as extended mining licenses for its joint enterprise beyond 2029. Debswana is a joint venture 50:50 between the top diamond producer Botswana (and De Beers) that currently sells 75% its output to De Beers. In 2023, Botswana signed a new 10-year diamond deal with De Beers, which will see the government share of diamonds sold by the Debswana joint venture increase from 30% to gradually 50% over the next decade. This agreement was not signed by the...

South Africa's Energy Regulator granted Eskom a 12.7% average increase in tariff for 2025/26. This is a third less than the company requested. Eskom's request for increases of 36% in April, 12% by 2026, and 9% by 2027 prompted opposition during public consultations. Political parties and consumers blamed the poor economy and cost-of-living crises. Eskom must be sustainable in the short-term and long-term. Thembani Bukula is the chairman of Nersa. He said that we must ensure that Eskom's electricity services are affordable. Eskom's request for tens or even hundreds of millions of rands to cover coal contracts, an increased carbon...

China imported a record amount of coal in 2024, driving world imports of the fuel to an alltime high. So why are coal exporters beginning 2025 in a deep blue funk? For coal exporters, China is both their saviour and tormentor, as the record import volumes are only possible due to the fact that seaborne prices have dropped to multi-year lows. Rates for export coal have declined in order to stay competitive with China's domestic prices, with the world's. biggest producer and importer of coal driving what takes place in. international coal markets. China's coal imports increased to an all-time...

There is a 59% possibility of La Nina emerging in the NovemberJanuary period, a U.S. federal government forecaster stated on Thursday, including that the ultimate start of La Nina conditions would be weak and shortlived. WHY IT is essential La Nina, a climatic phenomenon defined by cooler-than-average ocean temperature levels in the central and eastern equatorial Pacific, is connected with both floods and droughts impacting international agriculture, and higher Caribbean hurricane activity. CONTEXT Weak La Nina conditions would be less most likely to lead to conventional winter effects, though foreseeable signals might still influence the projection assistance, the National Weather...

Anglo American said on Tuesday it will offer more shares in its South African platinum system, as it accelerates strategies to spin it off. Anglo offered 16 million shares for sale in Anglo American Platinum (Amplats), worth about $535 million, according to a bookrunner. An earlier sale of its 5.3% stake in the platinum system netted about $400 million. The placing will raise money for Anglo American, the moms and dad business of Amplats, as it presses forward with a larger reorganizing strategy that is aimed at focusing its operations on copper and iron ore mining and increasing value. Anglo...

South Africa's Eskom said on Monday that the 90 billion rand ($ 4.96 billion) and counting in debts it is owed by towns and cities threats erasing its government bailout, as it argued for tariff walkings. The government has actually insisted a three-year debt-relief bundle worth more than 250 billion rand assured by South Africa's. National Treasury in 2015 is the power energy's last. Eskom's primary financial officer made the remarks at the. first day of public hearings into the company's application for. electrical power tariff walkings over the next 3 years. Eskom has actually asked the energy regulator to...

SubSaharan African nations that depend upon product exports need to reform their economies to tackle irregular regional financial development, International Monetary Fund Africa Director Abebe Aemro Selassie stated. The region is expected to grow by 3.6% this year, unchanged from in 2015 and down from an April projection of 3.8%, the IMF said in its latest World Economic Outlook released today, with product economies lagging their varied equivalents. The product intensive countries are growing at about half the rate of the rest of the area, the IMF stated in the report, with oil exporters struggling one of the most in...

Saudi Crown Prince Mohammed bin Salman is not anticipated to participate in the Russianhosted BRICS top later this month, according to the Kremlin, which said the world's biggest oil exporter would be represented by the Kingdom's foreign minister. BRICS, originally Brazil, Russia, India and China, has broadened over the last few years to consist of South Africa, Egypt, Ethiopia, Iran, United Arab Emirates and Saudi Arabia. President Vladimir Putin's foreign policy assistant, Yuri Ushakov, said that nine of the 10 BRICS member states would send their leaders, though Saudi Arabia would send its foreign minister, Prince Faisal bin Farhan Al...

Anglo American, a global miner, reported on Thursday a 15% drop in its production of copper for the first three months of the year. However, the company left the yearly forecast unchanged. The London-listed company said that copper production dropped to 169,000 tons in the first quarter of this year. It attributed the drop in production in Chile. The copper production in 2025 is expected to range between 690,000 - 750,000 tonnes. As the world shifts to cleaner energy sources, it is expected that metals will be used more for electric vehicles and renewable facilities. Prices for industrial metals have...

The environment minister announced on Monday that South African coal-fired electricity stations had received some exemptions from the air quality laws, and regulations aimed at reducing harmful emissions. However, he stressed that these measures were not a "blanket respite". The government struggles to find a balance between the calls to reduce carbon emissions and to stop them and the need to supply electricity to Africa's largest economy which is stagnant due to power outages. Eskom, the power utility that generates South Africa's majority of electricity from its fleet of coal-fired plants, applied to exempt 8 of these plants from air...

A South African government agency that is influential recommended Thursday that the country phase out its coal-fired energy stations. It published a study over ten years which showed people who lived near these power plants were 6% more susceptible to dying than those living elsewhere. South African officials, as well as citizens, are arguing over how quickly the country should implement a programme partly funded by donors to move away from coal and towards solar and wind power. The fossil fuel is responsible for three-quarters of the country's power, and 90,000 jobs are supported by it. The South African Medical...

Anglo American CEO Duncan Wanblad stated on Monday that the company is working hard to maximize its value in case a new M&A bidder comes along. He also expects significant progress on a much-anticipated spin-off of De Beers' diamond business this year. Anglo American, a London-listed company, rejected a hostile bid of $49 billion from BHP in May. BHP was focusing on Anglo’s copper assets. Anglo has since streamlined its operations by selling coal assets and agreeing on the separation of its platinum business. It still needs to find partners for the UK fertiliser project, which requires massive amounts of...

South Africa's mining market reported 42 deaths last year, the lowest number to date and a 24% improvement on the previous year, official stats showed on Thursday. The stats did not include deaths from prohibited mining. Mines Minister Gwede Mantashe repeated the government's. position that unlawful mining is a criminal activity and not part. of his department's remit. Recently the bodies of 78 miners were pulled from an. unlawful gold mine after a heavily-criticised authorities operation. lasting numerous months that attempted to require them to the surface. Of the deaths caught in last year's official stats,. 11 were in the...

South African coal miner Exxaro Resources stated on Wednesday its board had actually placed CEO Nombasa Tsengwa on preventive suspension pending an independent probe into allegations related to work environment conduct and governance practice. The Board takes any such allegations and resultant examinations very seriously but makes no presumption as to its conclusion. The company will be assisted by the result of examination before taking the proper action, if any, Exxaro stated in a declaration. Tsengwa was not instantly readily available for remark. Exxaro said that the inquiry will be performed by law office ENS, including that the business's long-time...

The UK's FTSE 100 index edged higher on Wednesday as investors evaluated the fallout of U.S. Presidentelect Donald Trump's tariff dangers, while reducing federal government bond yields supported interest ratesensitive real estate and property stocks. The blue-chip FTSE 100 and the midcap FTSE 250 both increased 0.2%, stabilising after the prior day's. sell-off on Trump's threat of large tariffs on a few of its secret. trading partners. Housebuilders and real estate. stocks climbed 0.9% and 1.5%, respectively, as UK government. bond yields was up to their least expensive considering that Finance Minister Rachel. Reeves announced her first budget on Oct....

South Africa's revised carbon tax intends to balance the rival demands of climate activists and polluters by lowering taxfree allowances while letting business make greater use of offsets, the Treasury's. acting tax chief said on Friday. The modifications, to come into effect in 2026, will help South. Africa satisfy environment commitments however provide 'hard-to-abate' sectors. more versatility, said Chris Axelson, Performing Head of Tax and. Financial Sector Policy at the Treasury. South Africa is one of the world's top 15 greenhouse gas. emitters and the only nation in Africa with a carbon tax. It definitely is a change to the...

Botswana's new president Duma Boko stated on Friday he wanted to conclude talks for a new sales pact with worldwide diamonds mining giant De Beers as quickly as possible. The relationship with De Beers might have been harmed by the way the settlements were dealt with, President Boko stated in a. telecasted declaration from Gaborone, Botswana's capital. The. initially thing that needs to be done is to engage the other party. De Beers, a system of Anglo American, in 2015 concurred. a new diamond sales pact, which will see the government's share. of diamonds from the Debswana joint venture gradually...

International miner Anglo American on Thursday published doubledigit falls in its thirdquarter copper and diamond production however preserved its 2024 guidance for the commodities. Anglo stated its copper output fell 13% in the July to September quarter, while rough diamond production decreased by 25% on cuts due to prolonged lower demand. Its De Beers diamonds system is exploring alternatives for even more output cuts in future, Anglo stated. For the first 9 months of 2024, copper output fell 4% to 575,000 tons and diamond production was down 21% at 18.9 million carats. Anglo still expects to produce 730,000-790,000 tons of...

Anglo American Plc will not be an unavoidable takeover target after its unbundles its diamond, platinum, nickel and coal properties, CEO Duncan Wanblad said on Thursday. The mining giant is restructuring its business to primarily focus on energy transition metal copper after fending off a $49. billion takeover offer from bigger rival BHP Group in. May. Some analysts have stated Anglo's simplified portfolio could. make it a much more compelling acquisition target for suitors. drawn to its copper assets. Wanblad attended to concerns about another potential quote in a. virtual address to a mining conference in Johannesburg. I don't think...

Asia's coal industry isn't too happy about present market conditions, with miners, traders, carriers and end users all having numerous grievances at today's annual gathering of the sector. The export-focused miners from top carriers Indonesia and Australia might be content with the solid volumes they are achieving, but feel costs for seaborne grades are too low. The freight sector grumbles that shipping rates are too low, particularly provided what they see as a looming lack of vessels in coming years. Traders are concerned margins are being compressed as they seek to keep volumes. And lastly, end users such as electrical...