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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Economic Council, Georgia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Planning Commission, India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
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