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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Australian Coal Association
- The University of Queensland
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
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