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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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Wednesday, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
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