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Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
.jpg) Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the project, the mining firm said on Wednesday.
The global financial crisis and sharp falls in metals as well as coal prices have forced some companies to abandon or put on hold their plans to bring new mines on stream.
The world's largest miner announced in January this year it would cut 6,000 jobs and close the Ravensthorpe nickel mine in Australia while reviewing other projects due to falls in metal prices.
On Tuesday, BHP Billiton said it would not go ahead with the Haju trial coal mine in Central Kalimantan on Borneo island because it did not fit with its long-term investment strategy.
"We will focus on completing our obligation to the government, employees and shareholders," Indra Diannanjaya, president director of PT Lahai Coal, which is part of BHP's Maruwai coal project.
Haju was stage one of the Maruwai coal project, the 100 percent BHP Billiton owned metallurgical coal deposit, in Central Kalimantan which was expected to produce 1 million tonnes of metallurgical coal -- used for steel-making -- per year.
"All 450 workers will be laid off gradually. We are working to find the best commercial options to our coal contracts," Diannanjaya said, without elaborating.
In June last year, the firm announced it would invest $100 million to develop the project which was expected to start producing in the middle of this year.
Some 250 contractors would also lose their jobs in the project, BHP Billiton said in a separate statement.
BHP Billiton said on Wednesday it has agreed to take a 58 percent price cut for the coal it sells to major steel-makers, in line with market expectations and a sharp downturn in the global steel industry.
In November last year BHP decided also decided to scrap a study into developing an integrated nickel project in eastern Indonesia which was under a conditional agreement with Indonesian state miner PT Antam Tbk.
Separately, the government said it has not yet received official report from BHP Billiton on its Indonesian coal project.
"We haven't received any formal notice," Bambang Gatot Ariyono, director of coal and mineral enterprise at Indonesia's energy and mines ministry.
"But they have to report to us whether they are going to pull out of the project or ask other investors to take over the project," he said.
The move is another blow to Indonesia's mining sector which has struggled to attract new investment from major global mining players in recent years, partly due to issues such as uncertainty over mining regulations and disputes with local governments.
Source:http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSJAK42450320090610
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Saturday, 20 June 09
CHINA'S COAL IMPORTS UP AND EXPORTS DOWN
China’s coal import hit a new monthly high in May, while coal export slumped to a 11-year low, China Securities Journal reported today.
The ...
Friday, 19 June 09
COAL FORUM TO MEET IN BALI NEXT WEEK
Bali will host next week a Southeast Asian forum on coal, involving coal producers, consumers and government representatives.
The Indonesian Ener ...
Friday, 19 June 09
KARNATAKA POWER CORP BEGINS BLENDING INDONESIAN COAL
BL reported that the State Government owned power utility Karnataka Power Corporation Limited has begun blending imported Indonesian coal for its th ...
Thursday, 18 June 09
COAL MINING HALTS AFTER DEADLY BLAST - (UPDATE 2)
All mining activists in Sawahlunto, West Sumatra, are at a standstill after a major underground explosion killed at least 31 miners and buried 12 ot ...
Thursday, 18 June 09
INDIA'S HINDALCO CLOSE TO BUYING AUSTRALIA COAL MINE
India's largest aluminium maker Hindalco Industries is close to acquiring a coal mine in Australia, for about $70-$80 million, The Economic Times r ...
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- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
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- OPG Power Generation Pvt Ltd - India
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- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
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- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
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- Parliament of New Zealand
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- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
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- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
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- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
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- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
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- Energy Development Corp, Philippines
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- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
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