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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, 08 June 09
PRIVATE COAL MINERS LIKELY TO LAND COMMERCIAL LICENSE - ECONOMIC TIMES
Economic Times of India reported that, The government may allow commercial coal mining by private companies as it looks to plug the demand-supply ga ...
Monday, 08 June 09
SAN MIGUEL EYES LOCAL MINING VENTURES - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, Diversifying conglomerate San Miguel Corp.is making big plans for Philippine mining, seen as an industry th ...
Monday, 08 June 09
NAPOCOR BUYING COAL FOR PAGBILAO PLANT - PHILIPPINE DAILY INQUIRER
Philippine Daily Inquirer reported that, State-run National Power Corp. plans to buy 390,000 metric tons of steaming coal next month, to supply the ...
Sunday, 07 June 09
SEMIRARA SELLING COAL TO THAILAND - STEELGURU
Business Mirror reported that coal producer Semirara Mining Corporation has successfully entered the Thailand market during the Q1 of the year, help ...
Saturday, 06 June 09
IS THE RECESSION OVER ? - CAPT. REDDY, VISTAAR SHIPPING
COALspot.com (Singapore): Is the recession over, that is what most analysts think and seems so from the Baltic Index rally and firm commodity ...
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- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
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