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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
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