Coal of Africa

By Benjamin Sporton, World Coal Association

Over recent weeks, World Bank climate change envoy Rachel Kyte has made a number of comments claiming that coal is not part of the solution to energy poverty. Pointing to investments being made globally in renewable energy, Kyte argues that coal is a fuel of the past, which we all need to be “weaned” off.

But her comments do not match up with the numbers. The International Energy Agency (IEA) forecasts coal use in electricity generation to grow 33 per cent by 2040. Demand for coal in Southeast Asia alone is expected to increase 4.8 per cent a year through to 2035. Read more

A reminder that strikes in South Africa keep ticking along: miner Coal of Africa has been hit by a walkout over the suspension of four workers, with work stopping at its Mooiplaats mine.

Unsurprisingly, the shares have been hit hard: down at one stage nearly 9 per cent in Johannesburg and 9.8 per cent in London. Prices have recovered a little, to around 7 per cent down on both exchanges. (The primary listing is in Australia.) Read more