Seasam Mining & Exploration

23/11/2025

Global coal market dynamics were divergent across key regions: indices in Europe continued to correct downward; coal in China became more expensive; Australian prices for thermal material firmed, while metallurgical coal quotations declined.

European thermal coal indices corrected downward to 96 USD/t. The decline was caused by falling gas prices, above-average temperatures, and increased wind generation.

Gas quotations on the TTF hub dropped to 366.70 USD/1,000 m³ (-10.82 USD/1,000 m³ w-o-w). EU gas storage inventories remained largely unchanged at 83% on the back of stable supplies from Norway.

Coal stocks at ARA terminals in Europe fell to 3.57 mio t (-0.32 mio t w-o-w), nevertheless the arrival of 4 vessel shipments with a total volume of 0.53 mio t is expected in the coming days.

South African High-CV 6,000 continues its rebound from multi-year lows, moving above 85 USD/t, following improved demand from Asian countries, including South Korea. South African coal’s competitive advantage persists amid higher prices for Australian material.

Demand from Indian sponge iron producers for imported 5,500 NAR coal was weak, resulting from shrinking margins and an increasing share of domestic coal consumption, which is putting pressure on Medium-CV South African coal quotations.

Stocks at the RBCT terminal decreased to 3.94 mio t (-0.13 mio t w-o-w).

South Africa’s Minister of Energy criticized the coal industry for its passivity in public debates, which has led to the dominance of an anti-coal narrative. Coal provides 60% of installed capacity and 80% of actual generation in the country. The Cabinet instructed Eskom to explore clean coal technologies, emphasizing a shift from fighting coal to fighting emissions.

In response, the industry created the FutureCoal platform to coordinate efforts to protect its interests.

In China, spot prices for 5,500 NAR coal at the port of Qinhuangdao gained 6 USD/t to 117 USD/t. The Chinese market maintains its upward trend, given that consumption at power plants in coastal provinces is growing, while inventories at major generating companies are decreasing, which stimulates purchases ahead of expected colder weather.

Furthermore, many mines have already exhausted their annual quotas, and authorities have tightened control over overproduction, which is limiting supply. Shenhua and other suppliers raised their purchase/delivery prices, which is also pushing the market upward.

The National Development and Reform Commission (NDRC) mandated that power plants and heating supply organizations increase coal stocks to a minimum 15-day consumption level to prepare for extreme weather conditions. The regulator’s requirement strengthened traders’ confidence as they believe loading port inventories remain relatively low, and a substantial build-up would be needed to lower FOB prices.

Inventories at the 9 largest ports increased to 24.19 mio t (+0.74 mio t w-o-w). Coal stocks at the 6 largest coastal TPPs were down to 13.95 mio t (-0.22 mio t w-o-w), while consumption rose to 800 kt/day (+45 kt/day w-o-w).

Indonesian 5,900 GAR climbed to 81 USD/t, while the price of 4,200 GAR approached 48 USD/t. Indonesian material prices continued to move upwards. Weather conditions in the country are constraining supply, as mining operations are disrupted in some regions, reducing the volume available for export. Dynamic price growth in China is also pushing traders to actively seek and purchase imported coal.

Meanwhile, Indonesian nickel plants have tightened sulfur requirements, rejecting high-sulfur cargoes, which complicates local coal companies’ fulfillment of Domestic Market Obligation (DMO) supplies and limits the availability of quality material for export.

20/11/2025

Historic Gold Find in China: Largest Single Deposit Since 1949 Revealed at 1,444 Tons

On November 14, Red Star News reporters learned from the Ministry of Natural Resources that Liaoning Province has successfully identified the first domestic kiloton - scale, low - grade super - large gold deposit - the Dadonggou Gold Deposit (with a cut - off grade of 0.25 grams per ton). At present, the economic feasibility of the deposit's development and utilization has been demonstrated, and the expected benefits are promising.

At present, the mine has passed the economic demonstration of exploitation and utilization, and the expected benefits are good. It is reported that in December 2023, Liaoning Provincial Geological Prospecting and Mining Group Co., Ltd. obtained the "Liaoning Province Gaizhou City Dadaogou Gold Mine Prospecting Prospecting Right". On September 15, 2025, the exploration report was reviewed and filed by the Liaoning Provincial Department of Natural Resources, and a total of 2.586 billion tons of gold ore and 14,444.49 tons of gold metal were explored above the elevation of -720 meters in the whole area, with an average grade of 0.56 grams / ton, and the ore body was located between the elevations of -913.06 meters and 115.08 meters, with a maximum strike length of 3,128 meters. It is the largest single gold ore body discovered since the founding of New China.

It is reported that the Liaoning Provincial Geological Prospecting and Mining Group has raised nearly 200 million RMB in its own funds, and after 15 months of exploration work, 219 boreholes have been completed, the mechanical rock core drilling advance has reached 136,700 meters, and the field work was fully completed on June 30, 2025. On August 19, the "Liaoning Province Gaizhou City Dadaogou Mine Area 34-39 Exploration Line Gold Mine Exploration Report" was submitted, creating a precedent for "short cycle, high quality" gold mine exploration in China.

The Ministry of Natural Resources introduced that the gold mine was first discovered in 1983, and made phased progress in the comprehensive prospecting work in 2009 and 2015. In 2024, a new round of exploration implemented the "comprehensive detailed exploration" exploration mode, and organized 18 production and research units to carry out a "big battle".

During the peak construction period, 45 drilling machines were operating simultaneously on site, and nearly a thousand staff members were working together. The three-dimensional modeling technology was fully applied to show the state of the ore body, and the geological statistical method was used to estimate the resource volume. After verification by the traditional geometric method, the estimated results were true and reliable.

The Ministry of Natural Resources said that the implementation of the project not only further consolidates the national strategic reserve of gold resources, but also provides a successful example for the deep and peripheral mineral exploration of the original resource base, significantly enriching the gold mine genetic theory, and is of great significance for creating a world-class gold industry base in Liaodong and serving the comprehensive revitalization of Northeast China.

19/10/2025

Coking Coal Market:

Low-sulphur coking coal in Linfen was offered at 1,540 yuan/mt. Low-sulphur coking coal in Tangshan was offered at 1,450 yuan/mt.

In terms of raw material fundamentals, overall mine supply saw a relatively small change, downstream coking and steel enterprises maintained purchasing as needed, and trader purchasing enthusiasm slowed down. Mine new orders decreased, coupled with weaker sentiment in recent online auctions, transaction prices for some coal types pulled back, and mine offers saw slight adjustments. However, mine coking coal inventory pressure is relatively small, overall levels remain medium to low, and reluctance to budge on prices is strong.

Coke Market:

The nationwide average price for first-grade metallurgical coke - dry quenching was 1,790 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - dry quenching was 1,650 yuan/mt. The nationwide average price for first-grade metallurgical coke - wet quenching was 1,440 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - wet quenching was 1,350 yuan/mt.

Supply side, most coking enterprises' profits are currently at the break-even point, operating rates are temporarily stable, and their own coke inventory is low. Demand side, steel mill finished product sales pressure increased, some steel mills have maintenance expectations, and coupled with their own coke inventory maintained at safe levels, restocking willingness is insufficient. However, steel mill operating rates remain high, hot metal output is not expected to see a sharp decline in the short term, providing some rigid demand support for coke. In summary, continued market optimism weakened, inhibiting further coke price increases. Coke prices are expected to operate steadily in the short term.

25/05/2025

This is Huge!!!!

🇺🇬 Uganda Discovers Over 31 Million Metric Tonnes of Gold Ore! 💰✨

Huge news out of East Africa — Uganda has announced the discovery of 31 million metric tonnes of gold ore, with an estimated 320,000 tonnes of refined gold, reportedly valued at $12 trillion! 🤯

If verified and responsibly managed, this could be a game-changer for Uganda's economy, offering immense opportunities for development, investment, and national growth. But it also raises big questions around environmental impact, fair distribution, governance, and protection against exploitation.

A historic moment — let’s hope it leads to real prosperity for the people of Uganda. 🙏🌍💛

01/05/2025

Nigeria and South Africa have signed a Memorandum of Understanding (MoU) to establish a significant mining partnership, aiming to promote economic development, technology transfer, and regional integration.

The agreement was endorsed by Nigeria’s Minister of Solid Minerals Development, Dele Alake, and South Africa’s Minister of Mineral Resources and Energy, Gwede Mantashe.

This partnership is an important step toward enhancing collaboration between Africa’s two largest economies in a sector critical to sustainable growth. The agreement focuses on mutual benefits in mining expertise, exploration, and capacity development.

The MoU outlines several strategic objectives to be pursued through bilateral collaboration such as:

Joint geological surveys and data exchange: The two nations will collaborate on comprehensive mineral mapping using modern technology such as drones and remote sensing, with plans to share geological data for mutual benefit.

Workforce development and training: South Africa will support Nigeria in building professional capacity through training programmes and certification systems designed to upskill mining professionals and enhance industry standards.

Exploration of key minerals: The partnership will prioritise the exploration and responsible development of strategic resources found in Nigeria, including gold, lithium, iron ore, limestone, and zinc.

Technology and knowledge transfer: To help modernise Nigeria’s mining operations, the deal includes provisions for the transfer of South African mining technology and best practices.