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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced to 8,7% in the six months to September 30, from 11,3% in the previous period, and was expected to remain under pressure for another 12 months "at least".
"In these times, cost saving is crucial," Wescoal CEO Andre Bojé said on Wednesday, when he announced that there would be no interim dividend.
He anticipated no improvement in the poor current trading conditions until the second half of 2010.
Wescoal would, Bojé said, focus on trading with smaller customers, enter new markets, and intensify mining in order to limit reliance on any one of its coal trading, coal washing or coal-mining divisions.
"We'll move rapidly to being a primary producer of coal, with a strong trading arm, and reduced vulnerability to a single revenue stream," he said.
He ascribed volume decline to reduced manufacturing activity and increased competition from traditional exporters choosing to divert product into the domestic market.
Wescoal's revenue fell 27% to R217-million – compared to R299-million in the previous corresponding – and profit fell to R7-million from R13-million. Net asset value, the company said, was well above the 74c share price at 114,76c a share.
Wescoal's trading segment contributed 88% to overall revenue, amounting to R191-million; and the washing and mining segments the remaining 12%, amounting to R26-million.
Bojé said that management was "extremely excited" about the contribution the jig plant was making at Blesboklaagte and by the acquisition of the Khanyisa mine, where a rail siding had been secured and an additional coal-washing plant was being considered.
The jig plant was commissioned at Blesboklaagte to process discard that was previously waste, the benefits of which will flow through during the balance of the financial year.
Source: Mining Weekly
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Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
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- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
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