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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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- Vizag Seaport Private Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Minerals Council of Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
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- The University of Queensland
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- Planning Commission, India
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- Larsen & Toubro Limited - India
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- Kepco SPC Power Corporation, Philippines
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- Singapore Mercantile Exchange
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- Banpu Public Company Limited - Thailand
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- Chamber of Mines of South Africa
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- Central Electricity Authority - India
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- San Jose City I Power Corp, Philippines
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- Africa Commodities Group - South Africa
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- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
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- IEA Clean Coal Centre - UK
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- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
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- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
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- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
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- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
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- Mjunction Services Limited - India
- Georgia Ports Authority, United States
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- Heidelberg Cement - Germany
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- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
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- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
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- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
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- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Cigading International Bulk Terminal - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
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- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- VISA Power Limited - India
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- CNBM International Corporation - China
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
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- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
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- Australian Coal Association
- Jaiprakash Power Ventures ltd
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- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
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- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
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- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
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- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
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