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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, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
Tuesday, 05 May 09
NEWCASTLE PORT'S WEEKLY COAL EXPORTS INCREASE - BLOOMBERG
COAL shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 18 percent last week while the numb ...
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- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
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