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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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Tuesday, 08 December 09
RICHARDS BAY COAL SHIPMENTS FELL 11% IN NOVEMBER FROM YEAR AGO
Coal exports from South Africa’s Richards Bay, site of the continent’s largest export terminal for the fuel, fell 11 percent in November ...
Tuesday, 08 December 09
HIGH GLOBAL COAL PRICES HIT POWER PROJECTS
Spot prices for the fuel have appreciated almost 10% in November.
After a sedate year, rising coal prices could hit the coffers of import-based d ...
Monday, 07 December 09
HOW INDIA CAN CUT ITS ENERGY NEEDS BY 20%!
Using energy more efficiently can reduce our energy needs by one fifth; it is a strategy we must pursue even as we promote renewables, says Kirit Pa ...
Monday, 07 December 09
ASIA COAL POWER IN INDONESIA DISCUSSES NEW MINING LAW, COAL AND POWER SECTORS AS INVESTMENTS POUR INTO COALMINES TO SECURE SUPPLIES
COALspot.com (Singaproe): Press Release - Asia Coal Power pinpoints growing power demand in Asia & Power sector investments in Indonesia's coal ...
Monday, 07 December 09
DRY BULK RATES' VOLATILITY TO STAY, BUT RECOVERY IS UNDERWAY SAYS ION VAROUXAKIS HEAD OF FREESEAS
In an interview with Hellenic Shipping News, Mr. Ion G. Varouxakis, Chairman of the Board, President and CEO of Nasdaq-listed Freeseas, explains why ...
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- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Planning Commission, India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
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