• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes The Inconvenient Truth Of Electric Cars
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 19 mins Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 5 hours Climate change & Wildfires: More Wildfires To The Western U.S., Will Affect Tens Of Millions Of People
  • 8 hours Wonders of Shale - Gas, bringing investments and jobs to the US
  • 6 hours Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 14 hours Hard To Believe: UAE Will Work To Defuse Middle East Tension
  • 3 hours The Strait of Hormuz is the world’s most important oil transit chokepoint
  • 9 hours The Plastics Problem
  • 10 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 3 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 12 hours Cherry Picking Climate Data
  • 16 hours Oil Demand Needs to Halve: Equinor
  • 15 hours Green vs. Coal: Bavaria Seeks Fast-Track German Coal Exit in Snub to Merkel Plan
  • 8 hours Is $60/Bbl WTI still considered a break even for Shale Oil
The War Risk Premium For Oil Prices

The War Risk Premium For Oil Prices

Attacks in around the middle…

Australian Coal of Africa Beginning South African Operations

Australian Coal of Africa, (CoAL), is due to resume production at its Vele Colliery project in Limpopo.

Briefing journalists in Pretoria, South Africa’s Department of Environmental Affairs Department Deputy Director-General Ishaam Abader said that his governmental agency granted environmental authorization to the CoAL mining company two weeks ago, BuaNews news agency reported.

CoAL is involved in coal mining activities outside Musina in Limpopo, five miles from the Mapungubwe, designated in 2003 by United Nations Educational, Scientific and Cultural Organization (UNESCO) as a World Heritage Site.

Seeking to quell controversy over the governmental decision, Abader said that his department was satisfied on the basis of information provided to it by CoAL and that its activities would be required to comply with the department’s environmental statutes.
According to Abader, the authorization came with conditions, with the official telling reporters, "This activity shall resume within a period of one month from the date of issue unless directed otherwise. If resumption of the activity does not occur within that period, the authorization lapses and a new application for environmental authorization shall be made in order for the activity to resume."

CoAL had earlier illegally commenced mining activities without environmental authorization, which contravened South Africa’s National Environment Management Act (NEMA), leading the Department of Environmental Affairs to cite the company with a compliance notice, which ended all mining activity at the site. As a result of the sanctions, CoAL paid nearly $1.47 million in administrative fines to the Department of Environmental Affairs.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News