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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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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
Saturday, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
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- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
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