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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 $100 million to develop the project which was expected to start producing in the middle of this year.
Some 250 contractors would also lose their jobs in the project, BHP Billiton said in a separate statement.
BHP Billiton said on Wednesday it has agreed to take a 58 percent price cut for the coal it sells to major steel-makers, in line with market expectations and a sharp downturn in the global steel industry.
In November last year BHP decided also decided to scrap a study into developing an integrated nickel project in eastern Indonesia which was under a conditional agreement with Indonesian state miner PT Antam Tbk.
Separately, the government said it has not yet received official report from BHP Billiton on its Indonesian coal project.
"We haven't received any formal notice," Bambang Gatot Ariyono, director of coal and mineral enterprise at Indonesia's energy and mines ministry.
"But they have to report to us whether they are going to pull out of the project or ask other investors to take over the project," he said.
The move is another blow to Indonesia's mining sector which has struggled to attract new investment from major global mining players in recent years, partly due to issues such as uncertainty over mining regulations and disputes with local governments.
Source:http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSJAK42450320090610
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
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