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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, 29 October 09
COAL OF AFRICA SEES VELE OUTPUT BY APRIL 2010
* First coal from Mooiplaats mined and sold
* Talks with Transnet on rail PPP on track
Reuters reported that, Coal of Africa (CoAL) said on Mond ...
Thursday, 29 October 09
UAE FUND EYES INDIA POWER FOR INDONESIAN COAL
Reuters reported that, the UAE's Middle East Coal (MEC) is in talks to buy equity stakes in India's power plants in exchange for long-term coal su ...
Thursday, 29 October 09
CESC POSTS RS 126 CRORE (US$ 26,655,178) NET PROFIT IN QUARTER TWO
Economic Times reported that, Energy major CESC posted a marginal increase in net profit at Rs 126 crore (US$ 26,655,178) for the quarter ended Sep ...
Thursday, 29 October 09
INDIA MMTC TENDER SET TO BOOST S.AFRICA COAL
The South African coal market is set to be boosted further by India's state-owned trading firm MMTC Ltd's tender for 12.5 million tonnes, Indian t ...
Thursday, 29 October 09
INDIA CEMENTS SET TO ACQUIRE COAL MINE IN INDONESIA
Business-Standard reported that, India Cements is set to acquire a coal mine in Indonesia for around $20 million (around Rs 100 crore). The company ...
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- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
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