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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 $100 million to develop the project which was expected to start producing in the middle of this year.
Some 250 contractors would also lose their jobs in the project, BHP Billiton said in a separate statement.
BHP Billiton said on Wednesday it has agreed to take a 58 percent price cut for the coal it sells to major steel-makers, in line with market expectations and a sharp downturn in the global steel industry.
In November last year BHP decided also decided to scrap a study into developing an integrated nickel project in eastern Indonesia which was under a conditional agreement with Indonesian state miner PT Antam Tbk.
Separately, the government said it has not yet received official report from BHP Billiton on its Indonesian coal project.
"We haven't received any formal notice," Bambang Gatot Ariyono, director of coal and mineral enterprise at Indonesia's energy and mines ministry.
"But they have to report to us whether they are going to pull out of the project or ask other investors to take over the project," he said.
The move is another blow to Indonesia's mining sector which has struggled to attract new investment from major global mining players in recent years, partly due to issues such as uncertainty over mining regulations and disputes with local governments.
Source:http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSJAK42450320090610
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
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