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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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Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
Tuesday, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
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- The Treasury - Australian Government
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- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
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- Deloitte Consulting - India
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- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
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- Straits Asia Resources Limited - Singapore
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- McConnell Dowell - Australia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Savvy Resources Ltd - HongKong
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- Price Waterhouse Coopers - Russia
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- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
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- Planning Commission, India
- VISA Power Limited - India
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- Indonesian Coal Mining Association
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- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
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- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
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- Thiess Contractors Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
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- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
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- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
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- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
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- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Australian Coal Association
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- Indian Oil Corporation Limited
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- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
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- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
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- Economic Council, Georgia
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- Trasteel International SA, Italy
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