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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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- Coalindo Energy - Indonesia
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- Eastern Energy - Thailand
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- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
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- Global Coal Blending Company Limited - Australia
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- SMC Global Power, Philippines
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- Maharashtra Electricity Regulatory Commission - India
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- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
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- New Zealand Coal & Carbon
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- Siam City Cement - Thailand
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- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- The University of Queensland
- Australian Coal Association
- PTC India Limited - India
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- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
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- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
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- Jindal Steel & Power Ltd - India
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- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
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- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
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- PNOC Exploration Corporation - Philippines
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- IEA Clean Coal Centre - UK
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- Jaiprakash Power Ventures ltd
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- Electricity Authority, New Zealand
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- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
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- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
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- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Carbofer General Trading SA - India
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- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
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- Wilmar Investment Holdings
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- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
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- Indian Energy Exchange, India
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- Agrawal Coal Company - India
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- Borneo Indobara - Indonesia
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