CA-Black-Transp

Mooiplaats Colliery Sold to MCH

At the end of September, Coal of Africa Ltd. (CoAL) sold the Mooiplaats Colliery to a consortium of investors, known as MCH, for R179.9 million ($13.2 million). MCH members include young black professionals, future Mooiplaats Colliery employees, communities, To The Point Growth Specialists Proprietary Ltd. and experienced coal mining executives, including Don Turvey. The consortium is funded by the newly established Last Mile Fund created by Africa Rainbow Capital, Bernard Swanepoel, Sipho Nkosi and Clinton Halsey, and MCH’s structure is compliant with the proposed requirements of the currently suspended third version of the South African Mining Charter.

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Process of Transferring Ownership Continues for Navajo Station

Peabody Energy confirmed that a number of highly qualified potential investors have expressed interest in pursuing an ownership position in the Navajo Generating Station for operation beyond 2019, meeting a major milestone for identifying a new ownership structure. The ownership transition process, led by Lazard Fréres & Co. LLC, remains on track with the transition timeframe outlined by plant majority owner and operating agent Salt River Project, which has agreed to help facilitate an ownership transition subject to negotiation of definitive agreements.

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Yancoal to Buy Mitsubishi’s Stake in Warkworth in New South Wales

Yancoal Australia has decided to purchase Mitsubishi Development’s 28.9% interest in the Warkworth joint venture in the Hunter Valley region of New South Wales for US$230 million. Yancoal said on Wednesday it had exercised its call option to acquire Mitsubishi’s interest. The acquisition is expected to completed by early March 2018 and is subject to FIRB approval and waiver of existing pre-emptive rights held by the other minority Warkworth joint venture participants.

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Paringa Breaks Ground on New Poplar Grove Mine

Paringa Resources Ltd., the newest entrant in the Illinois Basin (ILB) steam coal market, began construction in August on its 2.8-million-ton-per-year (tpy) Poplar Grove underground steam coal mine, the first of two deep mines planned by the Australian company for its extensive Buck Creek reserve in western Kentucky. Site work got under way in the McLean County/Hopkins County area near the Green River less than 18 months after the company flip-flopped its original plans and decided to build the low capital expenditure Poplar Grove mine before the 3.8-million-tpy Cypress mine.

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Permitting Concerns Force CONSOL to Change Bailey’s Production Plans

The Pennsylvania Department of Environmental Protection (PA-DEP) is requiring more time to evaluate the approval of CONSOL Energy’s Bailey mine permit for the 4L panel, and as a result, the company has decided to move the longwall to another panel in order to resume operations.

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