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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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Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
Wednesday, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
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- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
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