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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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Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
Wednesday, 09 December 09
COAL INDIA YET TO IMPLEMENT IMPORT LINKED PRICES
Coal India Ltd is adopting a conservative approach in pricing despite being allowed to charge import-linked price for the country's minuscule reser ...
Wednesday, 09 December 09
INDIA NEEDS TO IMPORT 29 MILLION TONNE STEAM COAL IN 2009 - 10
Mr Sriprakash Jaiswal Indian minister of state (Independent Charge) for coal informed the Rajya Sabha that Central Electricity Authority has estimat ...
Tuesday, 08 December 09
VOLATILE COAL PRICES SPUR ASIAN HEDGING
Volatile coal prices are forcing staid Asian power firms to change the way they buy fuel, setting the scene for a hedging boom as a growing array of ...
Tuesday, 08 December 09
MEC TO SHIP 2M T INDONESIA COAL TO INDIA IN 2010 - REUTER'S INTERVIEW
The UAE's Middle East Coal plans to start operation of coal mines in Indonesia's East Kalimantan province next year with initial production of 2 m ...
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- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
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