This debate has been flying around for a few years now,...

First 3 Last

Share
Profile

Follow
pitman

1,113 Posts.

20/10/14

18:42

Post #: 14151486
Share

Originally posted by rod63 ↑

Let's hope that they do indeed declare Coal a strategic mineral, as I think, its the only way we will see $1 again lol. Interesting times ahead for most of us here, I will hang around for another 18 months, wait and see what happens with finance, as well as the market for Coal. It's no good selling out now, as most of us here have invested in CDS/RES at a higher sp then the current sp of 12c.

I still believe that PJ is the right man for the job, and that the mine will open one day.......but will I see it happening?...or will my kids see it happening is the 64 dollar question I suppose.

Anyway until next time all have a great week ahead.

14th October 2014

South Africa's mines minister Ngoako Ramatlhodi said he was considering declaring certain minerals such as coal and iron ore as "strategic" for the country.

"We haven't classified any, but it is provided for under the mineral bill, which is before the president. If that bill is signed into law, then it will give the minister the ability to declare certain minerals strategic for purposes of industrialisation in South Africa," he said.

Under the bill, such minerals "will be sold for production costs excluding transportation. That is the mine-gate price. And the industry is comfortable with that, because they negotiated that formula," he said.

He would not be drawn categorically on what he will declare strategic but said, "Iron ore is obvious and coal, because coal fires our power stations."

He added, "There is coal for export and coal of a lesser quality, which stays in the country. That we would want to keep for our power stations."

http://www.reuters.com/article/2014/10/14/us-safrica-mines-minister-idUSKCN0I31QQ20141014

Expand

This debate has been flying around for a few years now, originally caused by the Indians importing the SA lower grade coals of around 4800 to 5200 kcal which is around the ESKOM quality.

The target is ESKOM type coal , not the higher grade export thermals and PCI type met coal.

Given the ANC govt track record on decision making and action taking, I would say there is nothing to worry about.

RES Price at posting: 14.0¢ Sentiment: None Disclosure: Not Held
3 Upvote

0 Great analysis

Reply

Top Stories

RCE

Recce's R327 found effective against E.coli during clinical trial

LU7

Lithium Universe (ASX:LU7) board visits Quebec to engage key stakeholders

AVA

Ava Risk Group expands US presence with A$0.7M Substation Deal

Microcap Wrap: 5 explorers with news out today

CMX

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

LRV

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

SVL

Silver Mines models five new calderas close to 396Moz Bowdens deposit

Week 26 Wrap: Cerberus of inflation barks – rents, electricity & fuel – and world watches two elders bicker

SS1

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring