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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, 21 October 09
INDONESIA'S BUKIT ASAM GETS COAL RAILWAY APPROVAL
Reuters reported that, Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk said on Wednesday it had been given government approval to sta ...
Wednesday, 21 October 09
COAL DEMAND SOARS AS ASIA ECONOMIES REBOUND - PEABODY
Reuters reported that, Demand for coal to generate electricity and make steel in China and India is expected to grow by 7 percent to 8 percent annua ...
Wednesday, 21 October 09
INDONESIAN SHOCK FOR INDIAN POWER PLANTS
Business-Standard reported that, India’s ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdl ...
Wednesday, 21 October 09
DUTA GRAHA PLANNING TO DELVE INTO MINING SECTOR
The Jakarta Globe reported that, PT Duta Graha, one of the country’s largest private engineering firms, says it intends to diversify into the ...
Tuesday, 20 October 09
RECAPITAL SET TO BUY INDONESIA'S BERAU COAL - SOURCES
* COULD PAY AT LEAST $1.3 BLN FOR BERAU - SOURCES
* RECAPITAL CONFIRMS IT HAS BID FOR BERAU
* BAKRIE GROUP LIKELY TO BACK BID – SOURCES
...
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- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
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