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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, 03 December 09
COAL INDIA IPO LIKELY TO HIT MARKETS BY NOVEMBER 2010
Soon investors will get to own a slice of India's largest coal mining company. Coal India its initial public offering will hit markets in November ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
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