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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, 14 October 09
SA'S COAL OUTPUT LIKELY TO RISE BY 2011, BOOSTED BY WATERBERG MINES
Mining weekly reported that, South Africa's coal production will struggle to meet demand over the next few years, but coal production could likely ...
Tuesday, 13 October 09
INDONESIA'S BAYAN SEES 2010 COAL OUTPUT UP 42 PCT
Reuters reported that, Indonesian coal miner PT Bayan Resources Tbk (BYAN.JK) said on Tuesday it expects its coal output to increase by 42 percent i ...
Tuesday, 13 October 09
STRAITS ASIA UPBEAT ON MEETING 2009 COAL OUTPUT
Reuters reported that, Singapore-listed coal miner Straits Asia is still optimistic about meeting its coal output target of 9 million tonnes this ye ...
Tuesday, 13 October 09
THERMAL COAL DEMAND IN CHINA DRIVES PRICE INCREASES
Metal Miner reported that, Thermal coal prices have been falling this year; contrary to many other commodities, both metals and energy that hit bott ...
Tuesday, 13 October 09
JSW ENERGY SCOUTING FOR PARTNERS, ACQUISITIONS
Business-Standard reported that, JSW Energy is planning to become an integrated power company by bringing in a partner for its transmission business ...
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- SMC Global Power, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
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