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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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Monday, 07 December 09
VEDANTA RESOURCES ISSUES TENDER TO IMPORT 2.25 MILLION COAL
COALspot.com (India): Vedanta Resources plc is a London stock exchange listed FTSE 100 diversified metals and mining major with revenues in excess o ...
Monday, 07 December 09
CHINA COKING COAL PRICE MAY RISE 14% ON DEFICIT, CITIGROUP SAYS
Coking coal prices in China, the world’s biggest steel producer, may rise 14 percent next year because of a supply deficit, Citigroup Inc. sai ...
Monday, 07 December 09
JSW STEEL TO SELL MOZAMBIQUE COAL MINE FOR RS 300 CRORE
JSW Steel may sell its coal mine in Mozambique to sister company JSW Energy as the mine has become commercially unviable for the steel producer, a t ...
Monday, 07 December 09
BLACK RIDGE MINING ENTERS AGREEMENT WITH INDONESIAN COAL PRODUCER
Australian-listed Black Ridge Mining has entered into an exclusive dealing and non-circumvention agreement with Indonesian coal producer PT. Inmas A ...
Sunday, 06 December 09
THE ECI / CHINA (S7) ROUTE SOFTENED AND WAS AT US$ 25,275 PER DAY - VISTAAR
COALspot.com (Singapore): "The market was bit soft in the beginning of the week, however towards mid week that market started to pick up and th ...
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- Makarim & Taira - Indonesia
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- Central Electricity Authority - India
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- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
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- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
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- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
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- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
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- Sical Logistics Limited - India
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- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
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- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
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- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
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- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
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- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
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- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- The University of Queensland
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
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- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
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- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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