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