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Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
 The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara (NNT), local subsidiary of US mining giant Newmont Corp., a minister says.
"We are asking for more *time* to settle several processes... 180 days more," Finance Minister Sri Mulyani Indrawati said in Jakarta on Friday.
Bambang Setiawan, director general of the Energy and Mineral Resources Ministry's division for coal, minerals and geothermal said that based on international arbitration to extend the time of divestment, it would be possible if both parties, the government and NTT, agreed on the matter.
"Our divestment deadline will be on September 27. If there is no deal yet about Newmont stake divestment, we can extend the process until November 2009 just like the divestment deadline of Newmont this year," Bambang said as quoted by Detik.com on Friday.
He assured that the government would finish purchasing the stakes by September 27.
Newmont is required by its contract with the government to submit to the central government, to the regional governments, to state-owned companies or to any local private companies designated by them. This was recently endorsed by an arbitration panel on March that demanded Newmont sell a total 31 percent of its stake in NNT - the operator of the Batu Hijau Mine, Indonesia's second largest copper mine
The Finance Ministry recently has appointed regional governments - West Nusa Tenggara province, Sumbawa Regency and West Sumbawa Regency - to lead the consortium to acquire the remaining 21 percent of shares to be divested by Newmont.
Previously, the three local governments had formed a consortium to acquire the first 10 percent shares in NNT, covering the parts of the stake that were supposed to be divested in 2006 (3 percent) and 2007 (7 percent).
To finance the acquisition of the 10 percent shares for the NTB-led consortium, which will cost US$391 million, the three local governments have chosen PT Multicapital, a subsidiary of Indonesia's biggest mining company PT Bumi Resources, as their partner to facilitate the deal.
No agreement so far has been made between the government and Newmont on the value of the remaining 21 percent shares nor how the government going to come up with the funds for the acquisition.
Last month, State Minister for State Enterprises Sofyan Djalil expressed his full support for state mining company PT Aneka Tambang and coal producer PT Tambang Batubara Bukit Asam (PTBA) to take part in the acquisition through a joint financing with local governments.
Source: The Jakarta Post
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Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
Monday, 12 October 09
INDONESIA TO CUT ROYALTIES TO BOOST LOW QUALITY COAL
Reuters reported that, Indonesia, the world's biggest exporter of thermal coal, plans to cut royalties paid by producers holding certain contracts ...
Monday, 12 October 09
SAMPUR COAL POWER PLANT AGREEMENT
Sunday Observer reported that, The construction work of the Sri Lanka-India joint venture coal power plant which costs US dollars 500 million will c ...
Saturday, 10 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - CAPT. REDDY
COALspot.com (Singapore): The BDI again firmed up this week by almost 14 pct to 2,695 points. The cape size index moved up quite sharply by 25 pct t ...
Saturday, 10 October 09
COAL PRICES TIPPED TO SURGE BY 40% AS GLOBAL DEMAND RECOVERS NEXT YEAR
Power-station coal prices may climb by more than 40 percent in 2010 from current levels as a global economic recovery boosts demand from power plant ...
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- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
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- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
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- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
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- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
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- Economic Council, Georgia
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- Anglo American - United Kingdom
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- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
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- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
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- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
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- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
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- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
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- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
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- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
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