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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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Friday, 13 February 09
INDONESIA IS EXPECTED TO PRODUCE 225 MILLION TONES OF COAL IN 2009 - ENERGY MINISTRY
Indonesia, the world's top thermal coal exporter, will allocate 68.3 million tonnes of coal out of expected forecast production of 225 million ton ...
Friday, 06 February 09
INDONESIA'S COAL PORTS HAVE FORCED A RETHINK ON 'TRADITIONAL' HANDLING OPTIONS
Port Strategy reported that, Indonesia’s main coal-producing islands of Kalimantan, Sulawesi and Sumatra suffer from a scarcity of suitable la ...
Thursday, 22 January 09
MINISTER: MINING LAW PROHIBITS RAW MATERIAL EXPORT - ESDM
The Coal and Mining Law, approved during the House of Representatives plenary meeting on December 16, 2008 seeks to domestically increase mining com ...
Wednesday, 07 January 09
SOUTH KALIMANTAN COAL PRODUCTION EXPECTED TO INCREASE - ESDM
Coal production from the South Kalimantan region has the potential to increase in the next few years. Aside from the vast proven reserves of coal, s ...
Tuesday, 30 November 99
GLENCORE EXPECTS 2023 TRADING UNIT PROFITS OF UP TO $4 BLN - REUTERS
Glencore GLEN.L on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
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- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- The University of Queensland
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
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