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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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Thursday, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY
The BSI moved in a downward direction since last Friday reflecting minor a ...
Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China.
In September 2009, ASF announced a ven ...
Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...
Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...
Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...
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- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Goldman Sachs - Singapore
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- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
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- Bhushan Steel Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
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- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
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- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
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- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
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- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
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- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
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- Coal and Oil Company - UAE
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- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
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- Romanian Commodities Exchange
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