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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, 15 October 09
GOVT TO CAP COAL EXPORTS AT 150 MILLION TONS A YEAR
The Jakarta Post reported that, The government plans to cap coal exports at around 150 million tons a year in a bid to guarantee supply for domestic ...
Thursday, 15 October 09
AUSTRALIAN MINING COMPANIES REPORTED FINDING 1.5 BILLION COAL MINE DEPOSIT IN MOZAMBIQUE
Paguntaka reported that, Mozambique is a country that has the potential mining areas are very rich. Many mining companies who want to invest in the ...
Wednesday, 14 October 09
INDONESIA POWER FIRM SIGNS LOAN AGREEMENTS FOR OVER $1 BLN
Reuters reported that, Indonesia's state electricity firm PT Perusahaan Listrik Negara (PLN) has raised more than $1 billion from a group of banks ...
Wednesday, 14 October 09
LARSEN & TOUBRO MAY ENTER POWER GENERATION BUSINESS IN INDIA
Bloomberg reported that, Larsen & Toubro Ltd., India’s biggest engineering company, said it is considering entering the power generation b ...
Wednesday, 14 October 09
INDONESIA MULLS TO LIMIT COAL EXPORT
China View reported that, The Indonesian government planned to limit coal export of up to 150 million tons per year due to the growing coal demand i ...
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- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- White Energy Company Limited
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
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