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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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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
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- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
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