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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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Friday, 13 November 09
API4 IGNORES LOW COAL TRADES - SWISS SINGAPORE
* Jan, Feb S.Africa coal prices hit 12-month highs
* Indian trader says deals done dollars below index
Reuters reported that, the physical coal ...
Thursday, 12 November 09
INDONESIA'S BUMI COAL PRODUCTION TO INCREASE
The sale is predicted to jump 14 percent to 58 million tons.
Viva News reported that, PT Bumi Resources Tbk. (BUMI) projected that the company's ...
Thursday, 12 November 09
INDIA'S BHEL IS IN INDONESIA NOW WITH THE COST EFFECTIVE CFBC BASED BOILER TURBINE PACKAGES
COALspot.com(Indonesia): BHEL, the largest engineering and manufacturing enterprise in India in the energy-related / infrastructure sector, is now f ...
Thursday, 12 November 09
NTPC FARAKKA AND KAHALGAON UNITS SHUT DOWN ON COAL SHORTAGE
Operations at two units each of power major NTPC Ltd’s 1600 MW Farakka and the 2340 MW Kahalgaon stations have ground to a halt due to an acut ...
Thursday, 12 November 09
GANGAVARAM PORT SETS RECORD BY DISCHARGING 80,514 TONNE OF COAL CARGO
Gangavaram Port, the deepest port in the country with water depth of 20 meters, has achieved an unprecedented milestone by discharging 80,514 metric ...
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- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
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