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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, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
Thursday, 18 June 09
GERMAN COAL BUYERS SEE LOWER IMPORTS, PRICES
* Coal imports and prices fall as steel industry slumps
* Coal industry grapples with carbon polluter image
German imports of hard coal are like ...
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- SMG Consultants - Indonesia
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- VISA Power Limited - India
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- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
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- Bulk Trading Sa - Switzerland
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- The University of Queensland
- CNBM International Corporation - China
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- Ministry of Finance - Indonesia
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- Planning Commission, India
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- Vedanta Resources Plc - India
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- Sinarmas Energy and Mining - Indonesia
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- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
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- Eastern Coal Council - USA
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- Parliament of New Zealand
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- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
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- Renaissance Capital - South Africa
- Minerals Council of Australia
- Deloitte Consulting - India
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- Rio Tinto Coal - Australia
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