News Flash  8 February 2011

Business Report

OPEC producers talk of much higher oil prices

Traders are worried that unrest in Tunisia and Egypt could fuel similar protests in bigger oil producers such as Libya, or even Saudi Arabia, creating uncertainty over oil supplies. Full Article 7/2/2011

Eskom has no plans for new bond issue

Eskom has no plans to return to the international bond market for cash it needs for new power plants and will focus on its existing resources, Public Enterprises Minister Malusi Gigaba told Reuters on Monday. Full Article 7/2/2011

BBC NEWS

Coal confirms its lead as king of fuels

"The consumption of coal is growing at a massive rate at the moment, particularly in Asia," says David Price, director of Cambridge Energy Research Associates The Chinese and the Indians are pushing their consumption up very rapidly and production levels are now approaching five billion tonnes a year, which compares with about three billion tonnes at the beginning of the millennium.

African Business Review

Energy efficient technology will create jobs, help environment and save money

Greenpeace has urged South Africa to adopt more renewable energy, in particular solar power, to create jobs, help the environment and save money. While solar power provides clean, efficient and economical energy, PV technology creates 35 to 50 jobs per tonne of CO2 savings and could greatly benefit the South African economy. Full Article

BUSINESS DAY

Energy report knocks reliance on fossil fuels

AN ENERGY report by nongovernmental organisation World Wide Fund for Nature (WWF) has shot down continued reliance on fossil fuels, saying all the world’s energy needs could be provided by cheaper, cleaner renewable energy by 2050. Full Article

Extracts From Creamer's Mining Weekly

South African coal logistics belittled as ‘underfunded, arthritic’

South Africa’s coal logistics were “underfunded and arthritic”, McCloskey Group MD Gerard McCloskey told the investor-sprinkled audience at the packed Mining Indaba in Cape Town on Monday. McCloskey condemned the country for allowing itself to fall behind many of the other rapidly developing countries of the world Full Article 8/2/2011

Study proves Mmamantswe could become export project - Aviva

Resources development company Aviva Corporation on Monday reported that a study has confirmed that export grade thermal coal could be produced at the Mmamantswe project, in Botswana. Aviva told shareholders that the study demonstrated that the 895-million ton Mmamantswe project could yield two product streams, including 200-million tons of export grade thermal coal, and between 100-million and 150-million tons of domestic power coal capable of supporting a 300 MW power station. Full Article 7/2/2011

Hunnu declares maiden resource for Tsant Uul project

Mongolia-focused coal developer Hunnu Coal has declared an initial Joint Ore Reserves Committee (Jorc) resource of around 90-million tons for the Tsant Uul coking coal project. Hunnu told shareholders on Monday that around 61-million tons of the new resource was in the measured and indicated category. Full Article 7/2/2011

Continental Coal extends Shanduka coal supply deal

Junior miner Continental Coal has extended its coal supply agreement with Shanduka indefinitely, says GM for operations Mike Nel. The company supplies between 85% and 90% of its coal production to black-owned Shanduka Full Article 7/2/2011