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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, 08 February 10
BLACK RIDGE MINING APPOINTS INDEPENDENT CONSULTANT
Australian-listed Black Ridge Mining has announced the appointment of David Tuit as an independent consultant to assist with the assessment of the c ...
Monday, 08 February 10
SOUTH AFRICAN EXPORT COAL RISES FOR FIRST TIME IN FOUR WEEKS
Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, posted their first gain ...
Monday, 08 February 10
NTPC HOPES TO START ON 500-MW PROJECT IN SRI LANKA BY FEB-END
NTPC sources told Business Standard, “All formalities from our government and NTPC have been completed.
The opinion of the Sri Lankan atto ...
Sunday, 07 February 10
AN AUSTRALIAN FIRM HAS SIGNED A $60BN DEAL TO SUPPLY COAL TO CHINESE POWER STATIONS
Clive Palmer, chairman of the company, Resourcehouse, said it was Australia's "biggest ever export contract".
Under the deal, the firm ...
Saturday, 06 February 10
FREIGHT WOULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR SHIPPING
COALspot.com (Singapore): The freight market continued to soften this week including the stock markets. The main reason seems to be Chinese ne ...
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- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
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- New Zealand Coal & Carbon
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- Energy Development Corp, Philippines
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- Planning Commission, India
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- Jaiprakash Power Ventures ltd
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- IEA Clean Coal Centre - UK
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- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
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- Gujarat Mineral Development Corp Ltd - India
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- Orica Australia Pty. Ltd.
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- OPG Power Generation Pvt Ltd - India
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- Australian Commodity Traders Exchange
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- Minerals Council of Australia
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- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
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- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
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- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
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- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Global Green Power PLC Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Georgia Ports Authority, United States
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- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
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- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
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- The Treasury - Australian Government
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- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
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- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
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