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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, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- The University of Queensland
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
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