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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
Reuters reported that, PTT , ...
Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
COALspot.com (Indonesia) Press Release: Infrastructure Asia 2010 is Asia’s premier infra ...
Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- Ministry of Mines - Canada
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- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Singapore Mercantile Exchange
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- Formosa Plastics Group - Taiwan
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- The University of Queensland
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
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- Toyota Tsusho Corporation, Japan
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- London Commodity Brokers - England
- Indian Energy Exchange, India
- Agrawal Coal Company - India
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- Mintek Dendrill Indonesia
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- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
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- Thai Mozambique Logistica
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- Directorate General of MIneral and Coal - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
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- Asmin Koalindo Tuhup - Indonesia
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- Ministry of Finance - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
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- McConnell Dowell - Australia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
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- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
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- Indonesian Coal Mining Association
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- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
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- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
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- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
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- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
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