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