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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, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
Tuesday, 12 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
Energy and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
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- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
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