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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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- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- New Zealand Coal & Carbon
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
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