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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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Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Monday, 01 June 09
LANDED COST OF IMPORTED COAL HAS INCREASED BY 10 - 15% COMPARE TO EARLY THIS YEAR - PAKISTAN TRADERS
COALspot.com (Pakistan): Due to visiting non commercial vessels occupied commercial berths in Karachi port, coal carrying vessels were sufferi ...
Monday, 01 June 09
LAHAT RELIES ON COAL FOR GROWTH - THE JAKARTA POST
Lahat regency in South Sumatra spans 6,618.27 square kilometers, encompasses 19 districts and covers 528 subdistricts and villages. It is inhabited ...
Saturday, 30 May 09
THE CHINESE IMPORTS OF IRON ORE,COAL AND NICKEL ORE SEEMED TO BE STEADY - VISTAAR SINGAPORE
COALspot.com (Singapore): VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore,said, the Baltic index rally continued this week ...
Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
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- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
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- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
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- Pipit Mutiara Jaya. PT, Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
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- Wood Mackenzie - Singapore
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- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
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- SMC Global Power, Philippines
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- Global Business Power Corporation, Philippines
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- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
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- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
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- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
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- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
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- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
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- London Commodity Brokers - England
- Economic Council, Georgia
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- Sical Logistics Limited - India
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- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Sojitz Corporation - Japan
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