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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
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