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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
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- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
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- Kumho Petrochemical, South Korea
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- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
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- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
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- Attock Cement Pakistan Limited
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- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
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