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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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Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
Wednesday, 27 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE 3.6% - BLOOMBERG
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 3.6 percent last week while the num ...
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- Wilmar Investment Holdings
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
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