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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$391 million, the three local governments have chosen PT Multicapital, a subsidiary of Indonesia's biggest mining company PT Bumi Resources, as their partner to facilitate the deal.
No agreement so far has been made between the government and Newmont on the value of the remaining 21 percent shares nor how the government going to come up with the funds for the acquisition.
Last month, State Minister for State Enterprises Sofyan Djalil expressed his full support for state mining company PT Aneka Tambang and coal producer PT Tambang Batubara Bukit Asam (PTBA) to take part in the acquisition through a joint financing with local governments.
Source: The Jakarta Post
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Saturday, 10 October 09
PT BUMI RESOURCES TO EXPECT 2010 ELECTRIC AND COAL PRICE UP TO US$ 100/T
Indonesia coal producer, PT Bumi Resources recently stated that the revival of the global economy pushes up the demand from power plants and steel m ...
Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
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- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
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- GMR Energy Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
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- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
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- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
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- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
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