London Commodity Brokers Ltd.
    • Home
    • About Us
    • Commodity News
    • Price Information
    Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
    To find out more, including how to control cookies, see here: Cookie Policy
    March 12, 2020

    Menar doing due diligence on thermal coal assets being offloaded

    Coal, Commodities Menar Holdings, South Africa

    Private investment and management company Menar is doing due diligence on thermal coal assets that have been placed on the market by companies wishing to offload them out of their portfolios.

    “If we get a good deal, we’ll look at making acquisitions,” Menar MD Vuslat Bayoǧlu told Mining Weekly on Monday. (Also watch attached Creamer Media video.)

    Such acquisitions would be in addition to the company’s own R7-billion project pipeline, for which mining rights, environmental authorisations and water-use licences are meeting timelines, with the exception of the Palmietkuilen opencast thermal coal mining project, near Springs, on the East Rand.

    “Palmietkuilen’s our only disruption,” said Bayoǧlu.

    This disruption is the result of the decision of Environmental Affairs Minister Barbara Creecy to uphold an appeal against the project on the grounds that the area has high agricultural potential, which Menar is contesting in court.

    Menar is hopeful that the courts will decide in its favour in view of Palmietkuilen’s importance to State-owned electricity utility Eskom as well as to the community. The mine will employ 800 people and a coal processing plant on the property will ensure that Eskom gets “the right quality coal at the right price”, said Bayoǧlu…Full Story

    China’s iron ore prices to fluctuate near term Baltic index hits 1-1.5 month high on firmer capesize and supramax rates

    Related Posts

    Coal, Commodities

    Coal shortage now at alarming levels, say aluminium producers

    With no relief in sight despite coal stocks running critically low and production disruptions looming across the Indian aluminium sector, the Aluminium Association of India (AAI) has urged the union coal ministry for immediate resumption of adequate coal rakes for the highly power-intensive Aluminium industry. In its representation to the Ministry, the AAI has lauded […]

    Coal, Commodities, Power Markets

    Coal Shortage Crisis: 15 Of 135 Power Plants Have Zero Days Of Stock

    Concerns on coal have also come from political quarters, as Power Minister RK Singh describes the situation as “touch and go” By – Mohammed Kudrati | Boom Live India is running perilously low on coal for thermal power generation, shows data from the Central Electricity Authority. According to their daily release on coal stocks through […]

    Coal, Commodities, Power Markets

    China Energy Crunch Triggers Alarm, Pleas for More Coal

    By David Stanway | Reuters As a severe power crunch roils China’s northeastern industrial heartland, senior officials face mounting pressure from alarmed citizens to ramp up coal imports thick and fast in order to keep lights on, factories open and even water supplies flowing. With electricity shortages sparked by scant coal supply crippling large sections of industry, […]

    London Commodity Brokers Ltd.
    © London Commodity Brokers Ltd.