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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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Saturday, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Australian Coal Association
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
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