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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Planning Commission, India
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Parliament of New Zealand
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
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