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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, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
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