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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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Wednesday, 11 November 09
INDONESIA ASKS DOMESTIC COAL FIRMS TO SET ASIDE 30PCT OF OUTPUT
Indonesian government said that it had asked domestic coal producers to set aside 30% of their output next year to meet demand from new coal fired p ...
Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when ...
Tuesday, 10 November 09
THAI COAL MINER BANPU Q3 NET UP, BEATS FORECAST
Reuters reported that, Thailand's top coal miner, Banpu, said on Tuesday its third-quarter net earnings rose a higher-than-expected 22 percent, hel ...
Monday, 09 November 09
NAPOCOR DEFERS 50,000 T COAL TENDER
Top Philippine electricity producer National Power Corp. (Napocor) has indefinitely postponed a tender for supply of 50,000 tons of steam coal sched ...
Monday, 09 November 09
SAM'S SEAFOOD HOLDINGS SET TO COMMENCE DRILLING AT INDONESIAN COAL PROJECT
Proactive Investors reported that, Sam's Seafood Holdings is preparing to kick off diamond drilling at the company's Indonesian coal project after ...
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- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
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