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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, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...
Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...
Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...
Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...
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- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Planning Commission, India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
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