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Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
  The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia’s second largest thermal coal producer PT Adaro Energy, the world’s largest mining company announced Wednesday.
“These agreements with Adaro provide a strong local partner to ensure the successful development of our world class metallurgical coal interests in Indonesia,” BHP’s president for metallurgical coal Hubie van Dalsen said on the firms’s website.
BHP holds the remaining 75 percent of Maruwai and the company will form a joint venture with Adaro to manage it.
The Maruwai project’s external relations manager Indra Diannanjaya would not divulge the value of the 25 percent divested stake, since the completion of the transaction is subject to government approval.
Bambang Setiawan, director general for minerals, coal and geothermal at the Energy and Mineral Resources Ministry, said the divestment stake had been regulated in each mining contract. “We will evaluate whether this [BHP divestment] has been in accordance with the contract or not,” Bambang said.
The Maruwai coal project covers seven Coal Contracts of Work (CCoWs) located in East and Central Kalimantan and Adaro has operations near the site. BHP said the concession contained an estimated 774 million tons of undeveloped metallurgical and thermal coal. The project is expected to start coal production in 2014 with output to reach 6 million tons per year by 2019.
One of the contracts covers the Haju open-cast mine, where BHP plans to invest US$100 million.
BHP initially expected the mine to begin coal production by the middle of 2009, but in June last year the company decided to back down from its plan to develop the Haju mine, saying the project was not in line with the company’s long term business strategy.
This decision led to some 450 workers losing their jobs.
The company also signaled that it would completely pull out from Indonesia. However, in January BHP revised this position and told legislators it would only sell between 20 and 25 percent of its stake in the mine.
Several companies had reportedly bid for the 25 percent stake including PT Tambang Batubara Bukit Asam, the Djarum Group, the Rajawali Corp., Medco Energi, and PT Antam.
Source: The Jakarta Post ( By: Alfian )
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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- Edison Trading Spa - Italy
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- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
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- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
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- Trasteel International SA, Italy
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- Barasentosa Lestari - Indonesia
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- Merrill Lynch Commodities Europe
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- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
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- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
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- Economic Council, Georgia
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- Anglo American - United Kingdom
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- SMG Consultants - Indonesia
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- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
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- Australian Coal Association
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
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- Tata Chemicals Ltd - India
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- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Minerals Council of Australia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
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- ICICI Bank Limited - India
- Baramulti Group, Indonesia
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- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
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- CIMB Investment Bank - Malaysia
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- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
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- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
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- The State Trading Corporation of India Ltd
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- McConnell Dowell - Australia
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