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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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Saturday, 06 June 09
COAL PRICE HIT RECORD ON STRONG CHINA DEMAND - INVESTMENT WATCH
Investment watch reported that, “Coal price hit a new high of over $72 a tonne at Australia’s Newcastle Port, a benchmark for Asia, spur ...
Friday, 05 June 09
CEMENT INDUSTRY NEEDS POLICY ON FLY ASH
H.M. Bangur, President of Cement Manufacturers' Association, on the objectives and economic impact of the proposed national policy on utilisation o ...
Thursday, 04 June 09
PAKISTAN TO IMPORT MORE COAL FROM INDONESIA - SEATRADE
COALspot.com (Pakistan): Richards bay to Pakistan sea freight has touched US$ 20.00 for 40,000/10 pct steam size in June 2009. South African c ...
Thursday, 04 June 09
CHINA'S SHANXI PROVINCE CONSIDERS COAL FUTURES BOURSE - MINE WEB
Mine Web reported that, China hopes to establish a coal futures exchange to obtain more rights on international pricing.
China's largest coal pr ...
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
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- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
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