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