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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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Friday, 04 December 09
KALIMANTAN GOLD AGREES TO SELL IBP COAL CONCESSION
COALspot.com ( Press Release): Kalimantan Gold Corporation Limited ("KLG" or the "Company"), which undertook drilling and had an ...
Friday, 04 December 09
JSW ENERGY TO BUY OUT PARENT FIRM'S COAL BLOCK
JSW Energy plans to buy the stake held by JSW Steel in a thermal coal block in Mozambique in an attempt to become an integrated energy company with ...
Thursday, 03 December 09
JAPAN 2010 COAL IMPORTS SEEN FLAT, INDIA'S ROBUST - INDUSTRY
* Japan's demand seen steady in 2010 at 110 mln tonnes
* India's demand seen as robust, at 70 mln tonnes
Reuters reported that, Thermal coal i ...
Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to co ...
Thursday, 03 December 09
INDONESIA SEEKS TO INCREASE COAL SHIPMENTS TO INDIA, CHINA
Bloomberg reproted that, Indonesia, Asia’s biggest coal exporter, seeks to increase shipments to India and China as the economies improve and ...
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- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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