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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
PTC INDIA UNIT CHASES 2.5 MTPA INDONESIAN COAL
Reuters reported that, PTC Energy is in talks with an Indonesian firm to source 2.5 million tonnes per annum (MTPA) coal for its 350-400 MW power to ...
Thursday, 29 October 09
CHINA MAY SEEK THERMAL COAL ELSEWHERE IF AUSTRALIAN EXPORT COSTS RISE, SAYS REPORT
The Australian reported that, CHINA is likely to turn to alternative markets for thermal coal if the cost and availability of Australia's exports a ...
Thursday, 29 October 09
CURRENCIES, ASIA DEMAND TO LIFT EUROPE COAL PRICE
Supportive currency movements and strong Asian demand mean the price of coal delivered into Europe is poised to rise more than 30 percent to above $ ...
Wednesday, 28 October 09
AUSTRALIAN POWER STATION COAL PRICE TOPPED USD 73 A TONNE
Reuters reported that prices of power station coal in Australia, a benchmark for Asia, crept up for the fourth week and topped USD 73 a tonne, as a ...
Wednesday, 28 October 09
MIDDLE EAST COAL EYEING INDIAN POWER PLANTS IN EXCHANGE FOR LONG TERM COAL SUPPLY
Reuters reported that UAE's Middle East Coal is in talks to buy equity stakes in India's power plants in exchange for long term coal supply.
ME ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
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- Merrill Lynch Commodities Europe
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- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
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- Sojitz Corporation - Japan
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- San Jose City I Power Corp, Philippines
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- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
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- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
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- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
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- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
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- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
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- Semirara Mining Corp, Philippines
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