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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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Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
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- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Economic Council, Georgia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
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