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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- The University of Queensland
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
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