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