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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$100 million.
BHP initially expected the mine to begin coal production by the middle of 2009, but in June last year the company decided to back down from its plan to develop the Haju mine, saying the project was not in line with the company’s long term business strategy.
This decision led to some 450 workers losing their jobs.
The company also signaled that it would completely pull out from Indonesia. However, in January BHP revised this position and told legislators it would only sell between 20 and 25 percent of its stake in the mine.
Several companies had reportedly bid for the 25 percent stake including PT Tambang Batubara Bukit Asam, the Djarum Group, the Rajawali Corp., Medco Energi, and PT Antam.
Source: The Jakarta Post ( By: Alfian )
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Thursday, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Africa Commodities Group - South Africa
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- MS Steel International - UAE
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- Oldendorff Carriers - Singapore
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- Global Business Power Corporation, Philippines
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- Price Waterhouse Coopers - Russia
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- Bhoruka Overseas - Indonesia
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- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
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- The State Trading Corporation of India Ltd
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- White Energy Company Limited
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- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
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- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Economic Council, Georgia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
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- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
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- The Treasury - Australian Government
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
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- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
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- Goldman Sachs - Singapore
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- Parliament of New Zealand
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- Petron Corporation, Philippines
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