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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
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