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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, 25 April 09
KPC DEVELOPS EAST KALIMANTAN WITH GOVT - THE JAKARTA POST
Kaltim Prima Coal (KPC) focuses on several areas in its CSR projects to help the government increase the welfare of the community living around the ...
Friday, 24 April 09
NAPOCOR TO TENDER FOR 195,000 T COAL - ABS-CBNNEWS.COM
Top Philippine electricity producer National Power Corp. (Napocor) said on Friday it will hold a tender on May 20 to buy 195,000 tons of steam coal ...
Friday, 24 April 09
NTPC TO DELVE INTO CONTRACT MINING - ECONOMICTIMES
NTPC, India’s largest power producer, plans to cash in on its decades-old experience in handling coal mines by spinning off a separate u ...
Wednesday, 22 April 09
PROTECTED FORESTS FACING UNDERGROUND MINING THREAT - THE JAKARTA POST
The government is soon to issue a presidential regulation allowing mining companies to mine underground in protected forest areas, despite a recent ...
Tuesday, 21 April 09
MITRA RAJASA TO ACQUIRE TWO MINING COMPANIES - THE JAKARTA POST
PT Mitra Rajasa Tbk plans to acquire PT Realita Jaya Mandiri and PT Masindo Artha Resources in South Sumatra, which are worth around US$40 million.
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- The State Trading Corporation of India Ltd
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- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
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- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
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- Attock Cement Pakistan Limited
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- Coal and Oil Company - UAE
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- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Aditya Birla Group - India
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- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
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- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
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- Bukit Makmur.PT - Indonesia
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- Tata Chemicals Ltd - India
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- Jorong Barutama Greston.PT - Indonesia
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- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
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- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
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- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
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