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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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Tuesday, 20 October 09
COAL PRICES TO SURGE IN 2010 DESPITE AMPLE SUPPLY
Commodity Online reported that, Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Austra ...
Tuesday, 20 October 09
INDIA MAY CUT STAKE IN NTPC BY DECEMBER, POWER SECRETARY SAYS
Bloomberg reported that, India’s government may sell a 5 percent stake in NTPC Ltd., the country’s biggest power producer, as early as D ...
Monday, 19 October 09
COAL PRICE UP AGAIN - RICHARDS BAY TERMINAL
Export prices rose 45 cents, or 0.7%, to an average of 64.05 a metric ton in the week ended Oct. 16, according to McCloskey Group.
The week was & ...
Monday, 19 October 09
COAL MINISTRY SEEKS EXPLANATION FROM AP GENCO
The Hindu Business reported that, the Coal Ministry has asked the Power Generation Corporation of Andhra Pradesh (AP Genco) to explain why there was ...
Monday, 19 October 09
CEMENT UNLIKELY TO COST MORE DESPITE COAL PRICE HIKE
Business-Standard reported that, Cement manufacturers will not immediately hike prices of the construction material, despite a surge in their input ...
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- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
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