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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- PTC India Limited - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- The University of Queensland
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
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