Firestone says SA coal prefeasibility study nearing completion

JSE- and ASX-listed coal explorer Firestone Energy on Tuesday reported that the prefeasibility study of its joint venture (JV) Waterberg coal project was approaching completion, and that draft reports were currently being reviewed. Firestone said in a statement that during the quarter ended September, the company’s focus had been on completing the preparations and compilations [...]

Riversdale, Tata approve $270m Mozambique coal mine

Australian coal-miner Riversdale Mining and joint-venture partner Tata Steel have approved the development of the first phase of the Benga coal project, in the Tete province of Mozambique. The partners have committed $270-million, excluding working capital, to undertake the stage one development of the project, which would produce an initial 1,7-million tons a year of [...]

CoAL expects Vele mining right before year-end

ASX-, Aim- and JSE-listed Coal of Africa (CoAL) on Monday reported that it was expected to be awarded mining rights for several of its South African projects by the end of this year, and that its Vele project would start production in early 2010. The Vele coking coal project, in the Limpopo province, was expected [...]

Brazil’s Vale widens and deepens investments in Africa

Major Brazilian mining group Vale is to invest $595-million in its Moatize coal project in Mozambique next year. The company is already studying the feasibility of a second phase at Moatize, designated Moatize II. Subject to the approval of its board, Vale will also invest $50-million in the Konkola North copper project in Zambia, which [...]

Mongolia gets 11 bids for major coal project

Mongolia has received bids from 11 companies and consortiums as potential partners for its huge Tavan Tolgoi coking coal project, said Temuulen Ganzorig, deputy director of Erdenes MGL, the Mongolian government company that will hold 51% of the equity. Read more….

Coal of Africa boosts stake in Vele project

ASX-, JSE- and Aim-listed coal producer Coal of Africa Limited (CoAL) has completed the acquisition of a 6% interest in Limpopo Coal, which owned the Vele coking coal project, taking its stake to 80%. The coal-miner on Friday issued more than 1,9-million of its shares to Shangoni Bezwe Management Services, in order to acquire the [...]

Coal & Allied to sell Vickery project to Whitehaven

ASX-listed Coal & Allied Industries has entered into an agreement with fellow listed Whitehaven Coal Mining to sell its Vickery coal project in New South Wales, for A$31,5-million in cash and a 1 156 ha parcel of land in the Gunnedah region. The Vickery coal project was formerly operated as an open cut thermal coal [...]

Coal-bull Xstrata goes ahead with R3bn South African coal project

Growth-orientated Xstrata’s bullishness on seaborne-traded coal surfaced once more as its pursuit of Anglo American stalled and acolyte Xstrata Coal won board approval for the full implementation of the $407-million (R3,151-million) Atcom East project in Mpumalanga province. Xstrata’s bullishness is based on the global trend towards coal-producing countries exporting less and importing more, which is [...]

Wallington to lead Firestone’s Waterberg coal study, CEO steps down

JSE- and ASX-listed mineral explorer Firestone Energy has appointed former Anglo American executive John Wallington as MD to lead the bankable feasibility study of the junior company’s Waterberg coal project, in South Africa. Wallington will replace Firestone CEO Garth Higgo, who will be leaving the company next week. Read more….

BHP looks to create Coal JV in Indonesia

The company is looking to find other investors for its coal project on Borneo Island Read more….

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