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