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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, 16 March 09
COAL MINER BUKIT ASAM RECORDS 135% GAIN IN NET PROFIT FOR 2008 - THE JAKARTA GLOBE
Indonesia's state-owned coal miner PT Tambang Batubara Bukit Asam Tbk said its net profit jumped 135 percent last year, having sold more coal at hi ...
Saturday, 14 March 09
NATIONAL ALUMINIUM TO IMPORT COAL NEXT MONTH TO EASE SHORTAGE - BLOOMBERG
Bloomberg reported that, National Aluminium Co., India’s biggest alumina maker, plans to import as much as 150,000 metric tons of coal next mo ...
Friday, 13 March 09
VIETNAM APPROVES TWO COAL-FIRED POWER PLANTS TO MEET DEMAND -THANHNIENNEWS
Thanhnien News reported that, The government has approved a proposal to build two 2,400-megawatt coal-fired power plants in the provinces of Nam Din ...
Friday, 13 March 09
INDONESIAN STATE-RUN COMPANIES PROFIT MAY FALL 10% THIS YEAR -THANHNIENNEWS
Tanhnien news reported that, Indonesian state-run companies’ profits may fall about 10 percent this year as commodity prices decline, cutting ...
Thursday, 12 March 09
INDONESIA'S CIREBON ELEC IN TALKS ON COAL SUPPLIES - REUTERS
Reuters reported that, Indonesia's PT Cirebon Electric Power, an independent power producer, is in talks with a number of coal suppliers to seek a ...
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- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- The University of Queensland
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
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