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Wednesday, 10 February 10
BHP TAKES MARUWAI SALE OFF THE TABLE, MINISTRY SAYS
 Australian mining giant BHP Billiton may cancel a plan to sell a stake in its coal mining project in Maruwai, East Kalimantan, an official at the Energy Ministry said on Tuesday.
Bambang Gatot Ariyono, the ministry’s director of coal and minerals, said BHP had informed the ministry that it had decided against seeking a partner to develop the project. “They came to us a few weeks ago and said they will keep a 100 percent stake in Maruwai,” he said.
Bambang speculated that the decision to retain full interest was based on signs that the global economy was recovering, which would increase demand for coal and raise prices. BHP is the world’s largest exporter of coking coal, which is used to make steel.
However, BHP spokesman Illtud Harri said on Tuesday that his company had not made a decision and was still reviewing the Maruwai project.
“We are continuing to review our commercial options in relation to the Maruwai coal project, including potential sale of part of our interests. We have sought further information on these sale options, through an expression-of-interest process involving a number of parties. That process is continuing,” he said.
BHP has sent mixed signals about the Maruwai project in the past year. In June 2009, it said it was reviewing the project with the intention of selling it, after suspending a plan to develop Maruwai’s Haju field, the first stage of the project, because it didn’t fit with its long-term corporate strategy.
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“We are continuing to review our commercial options in relation to the Maruwai coal project, including potential sale of part of our interests”
– Illtud Harri, BHPB
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Then, in December, BHP said it was considering selling the entire project or a 25 percent stake after reports that three state-owned companies and one private company were interested in buying the project outright.
In a meeting with the House of Representatives in January, BHP representatives said it was sticking with its initial projection that production would begin in 2014.
Indra Diannajaya, president director of PT Lahai Coal, a local subsidiary of BHP that was working in Maruwai before the project was put under review, said the Haju field required an investment of $500 million to $1 billion. Indra said it could initially produce 200,000 tons of coal a year, rising to 6 million tons after six years.
The Energy Ministry said on Tuesday the domestic companies interested in Maruwai were PT Bumi Resources, PT Medco Energi Internasional, PT Adaro Energy, PT Aneka Tam bang and PT Indika Energy.
Source: The Jakarta Globe
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Friday, 12 February 10
TATA POWER: QUARTERLY BLIP
Although the company’s revenues dipped in the December quarter, its long-term story is intact.
Lower power generation and realisations saw ...
Thursday, 11 February 10
THE INDIAN MARKET SOFTENING A BIT - FEARNRESEARCH
Handy
The BSI has gone down for 3 weeks now but it is more a reflection of the Pac market. Activity in the Atl remains solid and rates remain firm ...
Thursday, 11 February 10
SOUTH AFRICA COAL EXPORTS DROP TO INDIA, CHINA
South African coal exports to India from Richards Bay Coal Terminal fell 39% in January from December's levels while shipments to China dropped 55% ...
Thursday, 11 February 10
JSW STEEL IS CLOSE TO ACQUIRING TWO COAL MINES IN THE US
“We are in advanced stages of negotiation and the deal will be completed in a month or two,” a company official told DNA Money on the co ...
Wednesday, 10 February 10
JPMORGAN FORECASTS A 5.7% GROWTH IN SEABORNE IRON ORE SHIPMENTS, 3.8% FOR COAL AND GRAIN THIS YEAR
This year volumes of iron ore transportation by sea may grow to 5.7%, coal and grain up 3.8% over numbers in 2009, Ukrrudprom reports citing analyst ...
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Showing 6006 to 6010 news of total 6871 |
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- Gujarat Electricity Regulatory Commission - India
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- GAC Shipping (India) Pvt Ltd
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- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- CNBM International Corporation - China
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- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
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- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
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- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
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- White Energy Company Limited
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- The Treasury - Australian Government
- Tamil Nadu electricity Board
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- Indonesian Coal Mining Association
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- Renaissance Capital - South Africa
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- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- The University of Queensland
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- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Posco Energy - South Korea
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- Independent Power Producers Association of India
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- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
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- Heidelberg Cement - Germany
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- Semirara Mining and Power Corporation, Philippines
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- Sical Logistics Limited - India
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- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
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- Cement Manufacturers Association - India
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- Holcim Trading Pte Ltd - Singapore
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- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
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- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
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- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
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- Goldman Sachs - Singapore
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