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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, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Trasteel International SA, Italy
- SMC Global Power, Philippines
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- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
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- Tamil Nadu electricity Board
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- Bahari Cakrawala Sebuku - Indonesia
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- Lanco Infratech Ltd - India
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- Bhatia International Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
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- European Bulk Services B.V. - Netherlands
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- London Commodity Brokers - England
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- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
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- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
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- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
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- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
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- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- The University of Queensland
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- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
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- Neyveli Lignite Corporation Ltd, - India
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- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
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- Semirara Mining Corp, Philippines
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