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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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Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
Wednesday, 29 April 09
NEW GOV'T REGULATION SHOULD INCORPORATE CONFLICT SETTLEMENT BODY - ICMA (MAJALAH TAMBANG)
A draft government regulation on mineral and coal is currently in a process of completion. The Indonesian Coal Mining Association (ICMA) proposed th ...
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- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Australian Coal Association
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- White Energy Company Limited
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
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