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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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Wednesday, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Power Finance Corporation Ltd., India
- Economic Council, Georgia
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- Metalloyd Limited - United Kingdom
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- Heidelberg Cement - Germany
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- Posco Energy - South Korea
- Indian Oil Corporation Limited
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- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
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- VISA Power Limited - India
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- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
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- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
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- Commonwealth Bank - Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
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- Parry Sugars Refinery, India
- Minerals Council of Australia
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- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
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- Anglo American - United Kingdom
- Indogreen Group - Indonesia
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- Sical Logistics Limited - India
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- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
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- Tamil Nadu electricity Board
- London Commodity Brokers - England
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- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
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- PTC India Limited - India
- White Energy Company Limited
- Eastern Coal Council - USA
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- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
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