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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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Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
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- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
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- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
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- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
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- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
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- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
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- Merrill Lynch Commodities Europe
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- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- The University of Queensland
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- Electricity Authority, New Zealand
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- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
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- Binh Thuan Hamico - Vietnam
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- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
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- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
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- Independent Power Producers Association of India
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- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
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- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- PTC India Limited - India
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- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
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- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
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