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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, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
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- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
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- International Coal Ventures Pvt Ltd - India
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- Essar Steel Hazira Ltd - India
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- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
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- Semirara Mining Corp, Philippines
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- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
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- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
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- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
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- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
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- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- PTC India Limited - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
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