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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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Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
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