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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Parliament of New Zealand
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- Banpu Public Company Limited - Thailand
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- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
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- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
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- Economic Council, Georgia
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- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
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- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
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- GMR Energy Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
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- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
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- Mjunction Services Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
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- Minerals Council of Australia
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- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
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- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Samtan Co., Ltd - South Korea
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- Latin American Coal - Colombia
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- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
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- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
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- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
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- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
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- Merrill Lynch Commodities Europe
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