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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, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
Wednesday, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
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- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
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