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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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Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
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- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
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- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
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