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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, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Planning Commission, India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
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