Homeland Energy Group Provides Operations Update for Kendal Colliery & Exploration Projects in South Africa
Homeland Energy Group Ltd. provide an update on the status of its Kendal Colliery following a planned shut-down for plant improvements and on its key exploration projects in South Africa. “While the first year of any operation is filled with a certain amount of excitement, it is also the year in which the operations team makes adjustments and improvements to ensure the operations run according...
Homeland Energy Holds Official Ceremonies for Kendal Mine Opening, South Africa
Homeland Energy Group Ltd., in conjunction with Homeland Energy & Mining, SA, held grand opening ceremonies for the Kendal Colliery yesterday at the Kendal site, approximately 90km east of Johannesburg earlier this week. Following a tour of the mine and plant sites, as well as the new housing community Homeland has built for local residents, Deputy Minister of Minerals & Energy, Ms. Futhi...
Sasol to Explore for Hydrocarbons in Papua New Guinea
Sasol Petroleum International (SPI) has obtained a 51% working interest in four hydrocarbon prospecting licenses covering a land area of 37 000 square kilometers, close to established gas fields in the “foreland” area of Papua New Guinea. Seismic surveying is scheduled to commence in October 2008. The exploration work will be carried out by newly formed Sasol Petroleum Papua New Guinea...
Homeland Energy to Purchase US-Based Appolo Fuels and Diversified Energy for US$105-Million
Homeland Energy Group Ltd., Appolo Fuels and Diversified Energy are pleased to announce that they have finalised a binding agreement for Homeland Energy to purchase the operating assets of Appolo Fuels, Inc., owner and operator of the Appolo coal mine and Diversified Energy, Inc., the associated coal marketing firm, of Middlesboro, Kentucky and Knoxville, Tennessee, respectively. The total purchase...
Homeland Receives Rand 150-Million Debt Finance Facility Approval from Nedbank Capital for its South African Subsidiary
Homeland Energy Group Ltd. announce that Nedbank Capital, the Investment Banking division of Nedbank Limited, one of South Africa’s largest banks, has approved a Debt Finance Facility for Homeland’s Kendal Colliery. Following a thorough due diligence and review of Homeland’s Kendal Colliery, Nedbank Capital has approved the 5 and a half -year facility, which is equal to approximately...
Homeland Energy Group’s Kendal Mine Produces First Coal
Homeland Energy Group Ltd. is pleased to announce first coal production from its Kendal Mine in the Witbank area of South Africa, approximately 50km east of Johannesburg. To date, approximately 8,000 tonnes of coal has been mined from the first of three open pit areas. Processing of the coal through the Company’s Parnaby wash plant on site should begin this week. Following additional pre-stripping...
Acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd. Closed Today in Accordance With Plan of Arrangement
Pan African Mining Corp. announce the closing today of the Plan of Arrangement and related transactions contemplated by the Arrangement Agreement dated May 9, 2008, as amended June 17, 2008, among Asia Thai Mining Co., Ltd., 0819615 B.C. Ltd., the Company and African Queen Mines Ltd., a newly formed subsidiary of the Company. A Final Order approving the Plan of Arrangement was obtained from the Supreme...
India’s NTPC eyeing stakes in Indonesia coal mines
State-run NTPC Ltd , India’s top power producer, is looking to buy majority stakes in Indonesian coal mines with reserves of up to 300 million tonnes to secure supplies and manage costs, its chairman said on Monday. Another government company, Power Trading Corp , also announced plans to buy coal mines in Indonesia, following the footsteps of private firms Tata Power and Reliance Power , which...
Indian Firm Commits $5 Million to Coal-Powered Energy
India’s Era Engineering Innovations (EII) has committed an investment of US$5 million into coal-powered energy generation in Zambia following the just-ended Conclave on Indo-Africa Project Partnership in New Delhi. Commerce, Trade and Industry Minister, Felix Mutati, who led the Zambian delegation to the meeting signed a Memorandum of Understanding (MoU) with EII director, Ajay Mishra over the...
Coal Surge Seen by Mobius as China’s Imports
Coal is poised to rebound from a two-year slump as China buys more than it exports for the first time in history. Power use in China, the world’s biggest coal producer, is rising 13 percent annually, and utilities are building plants at a record pace. The nation gets 78 percent of its electricity from coal, spurring imports from Australia, Indonesia and Vietnam. “The coal sector in China...
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