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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
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