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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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- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
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- Cigading International Bulk Terminal - Indonesia
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- Medco Energi Mining Internasional
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- CNBM International Corporation - China
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
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