CALLS FOR COAL AROUND ENERGY UNCERTAINTY

The chairman of the World Coal Association (WCA) has said that the time has come for the world to accept that abated coal has a vital role to play in our long-term energy future.

Speaking at the Southern African Coal Conference in Cape Town, WCA chairman, July Ndlovu, said there has never been a more poignant time to speak about coal and its multiple attributes.

Ndlovu said that geopolitical issues in Ukraine, Russia, and China has added more uncertainty to the energy crisis, showing how essential it was for countries to have energy security.

“As the past year has demonstrated, coal can still be relied upon to deliver energy security in the face of turmoil. In reality, coal remains essential to electricity supply in more than 80 countries. So, we’ve got to get back to reality and common sense. We’ve got to push back against singular energy solutions, which are inadequate and unreliable. We must consider coal’s multiple attributes and practicalities.”

Briefs

South Africa takes tangible steps towards zero harm goal

According to the Minerals Council of South Africa, the South African Mining Industry has recorded its first fatality-free January

This announcement has been taken as a positive sign that the safety initiatives implemented by the Minerals Council and its members are gaining traction. The news also comes after the country recorded a record-low 49 fatalities in 2022, which is a notable reduction from the 74 fatalities the year before.

Ironveld Mining Collaborates With Pace

Ironveld has confirmed that its subsidiary, Ironveld Mining Limited, has entered into a joint venture agreement with Pace SA Limited, as equal partners to produce and sell Dense Media Separation (DMS) grade magnetite from Ironveld’s mine in Limpopo, South Africa.

Martin Eales, CEO of Ironveld, said, “This is an exciting and value-additive transaction for Ironveld, which will utilise our existing mining infrastructure to supply extra quantities of ore, at multiples of the expected smelter requirements per month, to the JV from which we expect profitable cashflow within months. We would like to thank Pace for funding the initial capital contribution at a time when we are focusing our resources on the Rustenburg smelter ramp up, and we look forward to working with them.”

Thabisa Hanise, CEO of Pace, stated, “This opportunity is a highly attractive legacy project in South Africa and forms an important part of the development of Pace’s vision.”

The JVA states that Ironveld Mining and Pace will establish a newly incorporated company to be called IPace Pty Limited (IPace) owned in equal 50% shares.

Pace will fund all necessary capital equipment and establishment costs of a beneficiation plant to produce the DMS grade magnetite, which will be sited on Ironveld’s Lapon mining area.

Ironveld Mining will sell magnetite ore to the JV at a cost for processing into DMS grade magnetite and be responsible for operating the beneficiation plant, whilst Pace will be responsible for trading the DMS grade magnetite to end customers.

Ironveld and Pace will share all profits arising from the JV on a 50:50 basis, save for an initial period whereby Pace will recoup its capital funding on a 60:40 profit share basis.

High-speed connectivity for Kamoa-Kakula

The Kamoa-Kakula Copper Project in The Democratic Republic of Congo will continue to enjoy high-speed satellite-based connectivity services as part of a new agreement between Ivanhoe Mines and SES

The enhanced partnership builds on a successful five-year relationship between SES and Ivanhoe Mines and comes at a time of significant investment in low-latency, high-capacity solutions in the region