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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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Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- White Energy Company Limited
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- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
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- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
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- Singapore Mercantile Exchange
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- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
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- Vedanta Resources Plc - India
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- Chamber of Mines of South Africa
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- Energy Development Corp, Philippines
- Bhatia International Limited - India
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- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
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- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
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- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
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- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
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- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
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- Attock Cement Pakistan Limited
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- Bangladesh Power Developement Board
- Trasteel International SA, Italy
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- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
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- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
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- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
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- Bahari Cakrawala Sebuku - Indonesia
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- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
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- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
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- Bulk Trading Sa - Switzerland
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