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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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Friday, 12 June 09
MERCATOR LINES TARGETS 30 MILLION TONNE FROM MOZAMBIQUE COAL MINE - STEEL GURU
India’s second largest private shipping company Mercator Lines has targeted production of 30 million tonnes of coal from its Mozambique mine o ...
Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- CNBM International Corporation - China
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