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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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Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
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- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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