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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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Saturday, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
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