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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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- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- Eastern Energy - Thailand
- Bhatia International Limited - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
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