JAVIER BLAS: The coal industry is neither down or out

A bucket loads coking coal from the yard at a coke and gas plant near Moscow, Russia. File photo: BLOOMBERG/ANDREY RUDAKOV

The mining companies that have stuck with coal despite pressure to divest are making a killing. Look at Glencore, the world’s largest exporter of seaborne thermal coal. Its shares have risen to a 10-year high as investors anticipate a cash bonanza. For them, it’s an ideal world: Demand is rising, while supply is constrained because institutional investors, led by BlackRock , have convinced nearly every miner to stop opening new pits.

The consumption boom has wrong-footed many who said back in 2013-14 that coal demand had peaked and would soon start to decline. At best, coal consumption is settling at a high altitude plateau. At worst, it may continue rising. Beyond this year, the IEA forecasts some additional small demand increases for 2023 and 2024, setting fresh record highs in both years.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GARY RYNHART: Tourism can play an important part in tackling SA unemploymentIndustry will return, but probably in different ways, and sustainability and resilience will loom large It is therefore such a pity that the idiot of a tourism minister Sizulu spends her time on internal political infighting instead of promoting SA tourism
Source: BDliveSA - 🏆 12. / 63 Read more »

GARY RYNHART: Tourism can play an important part in tackling SA unemploymentIndustry will return, but probably in different ways, and sustainability and resilience will loom large
Source: BDliveSA - 🏆 12. / 63 Read more »

GLENN HOLLANDS: Oil and gas industry development of Wild Coast could be a trickBut independent research suggests oil and gas-led development is a slippery concept The privatisation economic model shoved down the throats of the country's political elite promised trickle down economic development which citizens are still grappling to gain from. The oil and gas story is too good to be true against pre-94 deal background.
Source: BDliveSA - 🏆 12. / 63 Read more »

EOH may go to shareholders to raise cashJSE-listed technology services group EOH Holdings is considering various options, including going to shareholders for new equity, to reduce the debt burden on its balance sheet. Moneyweb CompanyNews They should just close down How dilutive will the share issue be?
Source: Moneyweb - 🏆 5. / 77 Read more »

Royal AM strikers find new home?A former Royal AM striker has impressed Lamontville Golden Arrows after weeks of assessment, with deals understood to be concluded in the coming days. SLSiya Read more:
Source: Soccer_Laduma - 🏆 22. / 63 Read more »

Radio broadcaster Winnie Mahlangu described as a pillar of strength in the broadcasting industryRadio broadcaster Winnie Mahlangu has been described as a pillar of strength in the broadcasting industry. Mahlangu died at the age of 88 in Pretoria earlier...
Source: SABCNews - 🏆 37. / 51 Read more »