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