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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, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
Tuesday, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
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- Ministry of Transport, Egypt
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- Gujarat Mineral Development Corp Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
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- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
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- New Zealand Coal & Carbon
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Eastern Coal Council - USA
- Chamber of Mines of South Africa
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- Alfred C Toepfer International GmbH - Germany
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- India Bulls Power Limited - India
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- GMR Energy Limited - India
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- White Energy Company Limited
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- Kalimantan Lumbung Energi - Indonesia
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- Meralco Power Generation, Philippines
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- Eastern Energy - Thailand
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- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
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- Holcim Trading Pte Ltd - Singapore
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- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
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- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
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- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
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- European Bulk Services B.V. - Netherlands
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- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
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- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
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- Kohat Cement Company Ltd. - Pakistan
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- Bhoruka Overseas - Indonesia
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- Planning Commission, India
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- LBH Netherlands Bv - Netherlands
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- Romanian Commodities Exchange
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- Economic Council, Georgia
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- Siam City Cement - Thailand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
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- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
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- Electricity Authority, New Zealand
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