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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, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Asmin Koalindo Tuhup - Indonesia
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- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
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- SMC Global Power, Philippines
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- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
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- Australian Commodity Traders Exchange
- ASAPP Information Group - India
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- Ambuja Cements Ltd - India
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- Indogreen Group - Indonesia
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- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
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- Holcim Trading Pte Ltd - Singapore
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- Central Electricity Authority - India
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- Indian Energy Exchange, India
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- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
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- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
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- Energy Development Corp, Philippines
- The University of Queensland
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- Eastern Coal Council - USA
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- Semirara Mining Corp, Philippines
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- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Alfred C Toepfer International GmbH - Germany
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- India Bulls Power Limited - India
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- Bulk Trading Sa - Switzerland
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- Electricity Generating Authority of Thailand
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- Videocon Industries ltd - India
- Parliament of New Zealand
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- Thai Mozambique Logistica
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
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- Sindya Power Generating Company Private Ltd
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
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