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