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Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
.jpg) Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the project, the mining firm said on Wednesday.
The global financial crisis and sharp falls in metals as well as coal prices have forced some companies to abandon or put on hold their plans to bring new mines on stream.
The world's largest miner announced in January this year it would cut 6,000 jobs and close the Ravensthorpe nickel mine in Australia while reviewing other projects due to falls in metal prices.
On Tuesday, BHP Billiton said it would not go ahead with the Haju trial coal mine in Central Kalimantan on Borneo island because it did not fit with its long-term investment strategy.
"We will focus on completing our obligation to the government, employees and shareholders," Indra Diannanjaya, president director of PT Lahai Coal, which is part of BHP's Maruwai coal project.
Haju was stage one of the Maruwai coal project, the 100 percent BHP Billiton owned metallurgical coal deposit, in Central Kalimantan which was expected to produce 1 million tonnes of metallurgical coal -- used for steel-making -- per year.
"All 450 workers will be laid off gradually. We are working to find the best commercial options to our coal contracts," Diannanjaya said, without elaborating.
In June last year, the firm announced it would invest $100 million to develop the project which was expected to start producing in the middle of this year.
Some 250 contractors would also lose their jobs in the project, BHP Billiton said in a separate statement.
BHP Billiton said on Wednesday it has agreed to take a 58 percent price cut for the coal it sells to major steel-makers, in line with market expectations and a sharp downturn in the global steel industry.
In November last year BHP decided also decided to scrap a study into developing an integrated nickel project in eastern Indonesia which was under a conditional agreement with Indonesian state miner PT Antam Tbk.
Separately, the government said it has not yet received official report from BHP Billiton on its Indonesian coal project.
"We haven't received any formal notice," Bambang Gatot Ariyono, director of coal and mineral enterprise at Indonesia's energy and mines ministry.
"But they have to report to us whether they are going to pull out of the project or ask other investors to take over the project," he said.
The move is another blow to Indonesia's mining sector which has struggled to attract new investment from major global mining players in recent years, partly due to issues such as uncertainty over mining regulations and disputes with local governments.
Source:http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSJAK42450320090610
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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
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- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
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- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
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- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
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- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
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- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
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- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
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- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
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- Tamil Nadu electricity Board
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- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
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- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
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- Madhucon Powers Ltd - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- TNB Fuel Sdn Bhd - Malaysia
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- The State Trading Corporation of India Ltd
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- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
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- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
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- Rashtriya Ispat Nigam Limited - India
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- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
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- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
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- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
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- Neyveli Lignite Corporation Ltd, - India
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- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
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- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
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- Energy Development Corp, Philippines
- Independent Power Producers Association of India
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- CIMB Investment Bank - Malaysia
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- The Treasury - Australian Government
- London Commodity Brokers - England
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- Global Green Power PLC Corporation, Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
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- Metalloyd Limited - United Kingdom
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- Ambuja Cements Ltd - India
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- Australian Coal Association
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- Indian Oil Corporation Limited
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- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
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