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Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
  The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia’s second largest thermal coal producer PT Adaro Energy, the world’s largest mining company announced Wednesday.
“These agreements with Adaro provide a strong local partner to ensure the successful development of our world class metallurgical coal interests in Indonesia,” BHP’s president for metallurgical coal Hubie van Dalsen said on the firms’s website.
BHP holds the remaining 75 percent of Maruwai and the company will form a joint venture with Adaro to manage it.
The Maruwai project’s external relations manager Indra Diannanjaya would not divulge the value of the 25 percent divested stake, since the completion of the transaction is subject to government approval.
Bambang Setiawan, director general for minerals, coal and geothermal at the Energy and Mineral Resources Ministry, said the divestment stake had been regulated in each mining contract. “We will evaluate whether this [BHP divestment] has been in accordance with the contract or not,” Bambang said.
The Maruwai coal project covers seven Coal Contracts of Work (CCoWs) located in East and Central Kalimantan and Adaro has operations near the site. BHP said the concession contained an estimated 774 million tons of undeveloped metallurgical and thermal coal. The project is expected to start coal production in 2014 with output to reach 6 million tons per year by 2019.
One of the contracts covers the Haju open-cast mine, where BHP plans to invest US$100 million.
BHP initially expected the mine to begin coal production by the middle of 2009, but in June last year the company decided to back down from its plan to develop the Haju mine, saying the project was not in line with the company’s long term business strategy.
This decision led to some 450 workers losing their jobs.
The company also signaled that it would completely pull out from Indonesia. However, in January BHP revised this position and told legislators it would only sell between 20 and 25 percent of its stake in the mine.
Several companies had reportedly bid for the 25 percent stake including PT Tambang Batubara Bukit Asam, the Djarum Group, the Rajawali Corp., Medco Energi, and PT Antam.
Source: The Jakarta Post ( By: Alfian )
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Friday, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
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