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Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
 Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short of the corridor’s nameplate yearly capacity of 70-million tons, and had come in at closer to an annualised 60-million tons, Transnet acting CEO Chris Wells revealed on Thursday
Speaking in an interview with Mining Weekly Online, which took place at the group’s head office in downtown Johannesburg, Wells said that the company and the industry “would have done extremely well” if they achieved volumes of between “64-million tons and 65-million tons” for the year as a whole.
At the start of its financial year on April 1, 2009, the State-owned group’s rail division had budgeted to handle 69-million tons up until March 31, 2010. But, heavy rains during the first quarter, some operational problems on the line itself and an “indifferent” supply of coal from the mines had all but put paid to that ambition.
In unveiling its annual results on Wednesday, Transnet reported that volumes railed down the coal channel – which connects the coalfields of Mpumalanga province, on the eastern side of South Africa, to the Indian Ocean-facing RBCT, in KwaZulu-Natal – fell to a “very disappointing” 61,9-million tons in 2008/9.
Wells said that he was particularly unhappy about last year’s decline, which capped a three-year trend of underperformance, with volumes having fallen consistently since 2006, when 68,8-million tons were railed.
The acting CEO, who took over temporarily from Maria Ramos earlier this year, while the Transnet board sought a permanent replacement, had become personally involved in the matter. He told Mining Weekly Online that he was in the middle of a series of engagements with senior executives from the country’s leading coal exporters in a bid to understand the constraints and to set in place actions to raise volumes again.
Since September, there had been a concerted effort from Transnet to improve the corridor’s performance and there had been intensive interactions with the mines and the RBCT.
“But now the mines have run short,” Wells said, adding that two large mining groups had acknowledged in recent meetings that they were not producing to plan.
But many of these miners were also unhappy with the fact that Transnet had not set in place firm plans to raise capacity on the corridor to match the expanding capacity of the RBCT.
The R1,2-billion “Phase V” expansion had been delayed and would now only be commissioned by the fourth quarter of 2009, instead of July 1, as initially planned.
But, the RBCT’s new nameplate capacity of 91-million tons a year was well in advance of the rail channel’s 71-million tons, and Transnet Freight Rail had indicated initiated expansion plans to raise that capacity to around 80-million tons through the addition of new rolling stock.
Moreover, its R3,4-billion acquisition of 110 dual-voltage locomotives was a full year behind schedule, which had raised anxiety levels even further.
Wells acknowledged these tensions, but stressed that “relationships” were being built and “greater trust” developing.
“We have as much interest as any of the mines to get this channel up to 75-million tons year in, year out as soon as possible, while we look at future expansion options,” he said, adding that Transnet had no intention of getting in the way of committed expansion.
But, the group was insisting on firm, long-term take-or-pay contractual arrangements before it committed to what would be a “very significant” capital investment programme to raise capacity to above 90-million tons.
“We are not going to spend many billions and then face a coal industry exporting 65-million tons,” Wells outlined, adding that there was a lot of work being done “together”, with the help of external advisers, to reach a deal of the expansion of the line.
Source: Mining Weekly (http://www.miningweekly.com/article/sa-coal-exports-unlikely-to-breach-65mt-this-year-transnet-2009-06-25)
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Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
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- Star Paper Mills Limited - India
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- Parliament of New Zealand
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
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- Indonesian Coal Mining Association
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- Chamber of Mines of South Africa
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- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
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- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
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- Mintek Dendrill Indonesia
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- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
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- Australian Coal Association
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- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
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- MS Steel International - UAE
- Petron Corporation, Philippines
- Economic Council, Georgia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
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- Indika Energy - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
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- Posco Energy - South Korea
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- Bhatia International Limited - India
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- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
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- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
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- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
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- Ministry of Transport, Egypt
- Indian Energy Exchange, India
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- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
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- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
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