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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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Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
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- Karaikal Port Pvt Ltd - India
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- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
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- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
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- The State Trading Corporation of India Ltd
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- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
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- GAC Shipping (India) Pvt Ltd
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- Indogreen Group - Indonesia
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- Central Electricity Authority - India
- Ministry of Mines - Canada
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- Energy Link Ltd, New Zealand
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- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
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- Indian Energy Exchange, India
- ICICI Bank Limited - India
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- Economic Council, Georgia
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- Edison Trading Spa - Italy
- Mjunction Services Limited - India
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- Commonwealth Bank - Australia
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- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
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- Deloitte Consulting - India
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- Kohat Cement Company Ltd. - Pakistan
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- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
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- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
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- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
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- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
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- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
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- The University of Queensland
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- Independent Power Producers Association of India
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- Bahari Cakrawala Sebuku - Indonesia
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- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
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- Gujarat Mineral Development Corp Ltd - India
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- Cement Manufacturers Association - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
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- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
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- Planning Commission, India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
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- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Coal and Oil Company - UAE
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Parliament of New Zealand
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- Standard Chartered Bank - UAE
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- Orica Australia Pty. Ltd.
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- White Energy Company Limited
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