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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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Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
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- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
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- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
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