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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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Saturday, 17 October 09
US COAL MINERS LOOKING AT LOWER PROFITS
Most US coal miners are looking at sharply lower third-quarter earnings, but those that produce coal for steelmaking and export should enjoy higher ...
Friday, 16 October 09
INDONESIA EXPORTED 19,194,857 MT OF COAL IN SEPTEMBER 2009 - SOURCES
COALspot.com (Indonesia): Indonesia exported 19,194,857 MT of coal in September 2009. Out of total exported quantity, South Korea imported abou ...
Friday, 16 October 09
NAVIGATING THROUGH STORMY WATERS
To Theodore E Veniamis, the President of the Union of Greek Shipowners, the current turmoil in world shipping is due to the cyclical nature of marit ...
Friday, 16 October 09
COAL INDIA RAISES PRICE BY 11%
Trak reported that, State-owned Coal India Ltd (CIL) has raised the price of coal produced by its subsidiaries by an average of 11 percent effective ...
Thursday, 15 October 09
SOUTH AFRICAN MINING COMPANY ACCEPTED $92 MILLION BID FOR COAL MINE STAKE IN SIYANDA COAL
Paguntaka reported that, Sentula Mining Ltd. gained in Johannesburg trading after the South African company accepted a 686 million-rand ($92 million ...
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- Maharashtra Electricity Regulatory Commission - India
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- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
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- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
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- Meralco Power Generation, Philippines
- Parliament of New Zealand
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- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
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- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Electricity Authority, New Zealand
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- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
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- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- The University of Queensland
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
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