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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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Wednesday, 27 May 09
EUROPEAN COAL PRICES FOR 2010 SETTLEMENT DROP TO 11-DAY LOW - BLOOMBERG
Benchmark European coal derivatives declined to an 11-day low as oil prices slumped.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with se ...
Tuesday, 26 May 09
NEW MINING PERMITS TO BE OBTAINABLE WITHIN TWO WEEKS' TIME - MAJALAHTAMBANG
The Indonesian government is currently formulating a procedure for companies willing to obtain mining permits (IUP in its Indonesian abbreviation). ...
Tuesday, 26 May 09
KADIN CALLS FOR BIGGER RECOGNITION OF MINING SECTOR - MAJALAHTAMBANG
The Indonesian Chamber of Commerce and Industry (KADIN Indonesia) had called other sectors, particularly the forestry and the land administration se ...
Tuesday, 26 May 09
TUTICORIN PORT TO INVEST RS 700CR FOR COAL HANDLING FACILITIES
Business Standard reported that, The Tuticorin Port will develop coal handling facilities for state-run Neyveli Lignite Corporation (NLC) and Coasta ...
Monday, 25 May 09
MMTC TO IMPORT 12.5 MN TN COAL FOR NTPC
India's State-run trading firm MMTC Ltd will import 12.5 million tonnes of coal this fiscal for the country’s largest power producer, NTPC. M ...
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- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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