Accountant - Coal Trading

Recruiter:

Ikwezi Mining (Pty) Ltd

Job Ref:

JHB000153/Hope

Date posted:

Tuesday, December 17, 2024

Location:

Midrand, South Africa

SUMMARY:
As a Accountant, you will be responsible for managing the financial aspects of mining operations, ensuring that they are financially sustainable, efficient, and compliant with relevant regulations.

POSITION INFO:
Key Responsibilities:

Financial Reporting:

Prepare and maintain accurate financial records related to coal mining and coal trading transactions
Generate monthly, quarterly, and annual financial statements specific to trading activities
Reconcile trading revenue and expense accounts

Costing and Margin Analysis:

Track costs related to coal procurement, shipping, storage, and trading
Analyze trading margins and profitability for individual contracts or deals
Develop financial models to support pricing decision

Budgeting and Forecasting:

Assist in preparing budgets and forecasts for trading operations
Monitor budget vs. actual performance and provide variance analysis

Transaction Management:

Monitor and record coal purchase and sale agreements, ensuring proper financial documentation
Manage invoices, accounts payable, and receivable for trading operations
Work closely with logistics and operations teams to reconcile trade volumes and costs

Risk Management and Compliance:

Ensure adherence to financial regulations, tax laws, and trade-specific policies
Monitor exchange rate fluctuations, commodity price movements, and other financial risks
Support internal and external audit

Inventory and Stock Valuation:

Maintain accurate records of coal inventory, including valuation and stock adjustments
Coordinate with warehouse and supply chain teams to reconcile physical stock with records

Taxation and Regulatory Reporting:

Handle tax filings related to coal imports, exports, and domestic trading
Ensure compliance with government and industry-specific reporting requirements

Minimum Requirements:

Bachelor’s degree in Accounting, Finance, or a related field (CPA/CA certification preferred)
Minimum of 5 years’ accounting experience in coal mining is mandatory
Familiarity with commodity trading practices, documentation, and regulations
Proficiency in ERP systems (SAP,) and trading-specific tools. Advanced MS Excel skills are essential
Strong analytical and problem-solving skills
High attention to detail and accuracy in financial reporting
Excellent communication and negotiation skills
Understanding of coal market dynamics and pricing trends
Ability to work under pressure and meet strict deadlines

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