Exxaro deploys solar to power coal operations in Limpopo

SOUTH AFRICA –  Coal mining giant, Exxaro Resources Limited, through its wholly-owned renewable energy subsidiary, Cennergi, is developing the 70MW Lephalale solar project that will supply renewable energy to the Grootegeluk Complex, the integrated coal operations owned by another subsidiary of Exxaro, Exxaro Coal (Pty) Ltd, reports Renew Africa. “Exxaro Coal and Cennergi have concluded a term sheet setting out material terms upon…

Read More

FirstRand to stop funding new coal power plants and mines

SOUTH AFRICA – FirstRand Limited, one of South Africa’s largest banks, has announced that it will no longer finance new coal-fired power stations, and from 2026 will no longer provide direct project finance to new coal mines. The company made the announcement after publishing its Climate Change Policy and an updated Energy and Fossil Fuel Policy on 15th September 2021.…

Read More

Chinese bank ICBC abandons plan to finance Zim’s US$3b coal power plant

ZIMBABWE – China’s biggest bank Industrial and Commercial Bank of China Ltd has dumped a plan to finance a US$3 billion coal-fired power plant in Zimbabwe, dealing a blow to coal developers in Africa that see the Asian country as the last potential funder of their projects. Industrial and Commercial Bank of China Ltd. (ICBC) told Go Clean ICBC, an…

Read More

Mining company Seriti to conclude acquisition of South32 coal assets

SOUTH AFRICA – Coal mining company  Seriti Resources, has released a statement indicating that all conditions of its acquisition of South32 SA Coal Holdings Proprietary Limited (SAEC) have been fulfilled and the sale is expected to be completed on 1 June 2021. The new shareholders of 100% of SAEC will be Seriti Resources (90%), and the SAEC Employee and Community…

Read More

Mining company Exxaro Resources to offload thermal coal amid environmental concerns

SOUTH AFRICA – Coal and heavy minerals mining company Exxaro Resources, public utility Eskom’s biggest coal supplier, has become the latest company to offload thermal coal assets as pressure mounts for mining companies to reduce exposure to fossil fuels amid climate change concerns. The Johannesburg Stock Exchange (JSE) listed mining firm announced the sale of its Exxaro Coal Central (ECC) to…

Read More

Mining giant Anglo American spins off coal assets to reduce greenhouse gas emissions

SOUTH AFRICA – British multinational mining company Anglo American has spun off its South African thermal coal assets into Thungela Resources which will have a primary listing on the Johannesburg Stock Exchange and a standard listing on the London Stock Exchange. As part of setting up Thungela into a standalone business, Anglo said it would provide a US$171 million initial cash…

Read More

Pan-African investment company Beryl Group acquires 100% stake in Eyethu Coal

SOUTH AFRICA – Pan-African diversified investment company Beryl Group has acquired Africoal’s stake in Eyethu Coal, effectively making the group the 100% shareholder in Eyethu Coal. Eyethu Coal was established in 2004 and has six operational mines, with expansion plans for several new operations under development. Eyethu produces in excess of four-million tonnes of coal a year, with further capital…

Read More

Vale mining hires Barclays and Standard Chartered banks to sell coal assets in Mozambique

MOZAMBIQUE – Vale. SA, world’s largest iron ore producer, has hired investment banks Barclays and Standard Chartered to sell its Mozambique metallurgical and thermal coal mine and port project, have told Club of Mozambique, as the Brazilian miner works to become carbon neutral by 2050. Vale joins top miner BHP BHP.AX, BHPB.L and others who are keen to shed coal,…

Read More

Mining firm Vale buys out partner in Mozambique, divests coal assets

MOZAMBIQUE – Global mining company Vale has said it is buying out minority stake partner, Japan’s Mitsui & Co, in a Mozambique coal mine and port project, ahead of selling the loss-making asset as it works to become carbon neutral by 2050. Vale, the world’s second-biggest iron ore miner, said in a statement it planned to divest its loss-making Moatize…

Read More

Standard Bank to continue funding coal mining in South Africa and region

SOUTH AFRICA – Standard Bank says it will continue to fund thermal coal and coal-fired power generation operations under strict conditions since they play an important role in the generation of electricity in the region.   “Energy generation in South Africa and Sub-Saharan Africa in particular, is still more than 80% driven by coal fired power stations, so clearly, in that…

Read More