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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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Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Thai Mozambique Logistica
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- Indian Energy Exchange, India
- Medco Energi Mining Internasional
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- Power Finance Corporation Ltd., India
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- Wilmar Investment Holdings
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
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