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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, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
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