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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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Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
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- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
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