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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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Thursday, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
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