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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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Monday, 15 June 09
POWER PLANT SUFFERS FROM COAL CRISIS - THE STATESMAN
The 3,000 mw NTPC-Kaniha power plant, the second biggest in the country, is facing an unprecedented coal crisis with stocks dipping to a low of only ...
Saturday, 13 June 09
CLEARLY THE DRIVER FOR DRY BULK MARKET SEEMS TO BE IMPORTS BY CHINA - VISTAAR SINGAPORE
COALspot.com (Singapore): The market saw mixed results last week. The beginning of the week saw the indices dropping including the futures , however t ...
Friday, 12 June 09
SOUTH SUMATERA SPEEDS UP INTERNATIONAL HARBOR CONSTRUCTION - TEMPO INTERACTIVE
The South Sumatera Government will speed up construction of the international harbor Tanjung Api-Api. The harbor is a strategic entry point for comm ...
Friday, 12 June 09
CHINA SHENHUA NOT EYEING NEW FOREIGN COAL MINES - MEDIA
China Shenhua Energy Co Ltd , the top Chinese coal miner, will not consider buying any major overseas mines before it starts operating the Watermark ...
Friday, 12 June 09
CHINA TOP POWER COS SIGN REGIONAL COAL DEALS - REUTERS
China's top five power generating groups have signed 2009 coal supply contracts with miners in Guizhou and Xinjiang, with prices up 4 percent on th ...
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- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
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