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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
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