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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, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- White Energy Company Limited
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
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