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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, 31 October 09
FLSMIDTH WINS MAJOR INDIAN COAL HANDLING PROJECT
Top global supplier of minerals processing and materials handling equipment, FL smidth, has won another important coal handling contract in India
...
Saturday, 31 October 09
INDIA OPENING POWER SECTOR TO PRIVATE INVESTMENT, COAL STILL THE FUEL OF CHOICE
Energy Tribune reported that, With coal-fired power plants as the primary source, India’s electricity generation sector space has been dominat ...
Friday, 30 October 09
MINERS TOLD TO SPEND ON LOCAL SERVICE FIRMS
The energy and mineral resources ministry has issued a ministerial regulation ordering mining firms to prioritize hiring domestic service companies ...
Friday, 30 October 09
TATA POWER MAY BUY COAL FROM RIVERSDALE'S MOZAMBIQUE MINES
Bloomberg reported that, Tata Power Ltd., India’s biggest electricity generator outside state control, may buy coal from a mine in Mozambique ...
Thursday, 29 October 09
MMTC AWARDED 12.5 MILLION TONS TO THREE INDIAN TRADERS
COALspot.com (India): State-run trading firm MMTC awarded tenders for the import of 12.5 million tonnes of coal for NTPC to three Indian coal trader ...
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- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- The University of Queensland
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Planning Commission, India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
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