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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, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
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- Madhucon Powers Ltd - India
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- Australian Commodity Traders Exchange
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- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
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- Holcim Trading Pte Ltd - Singapore
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- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
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- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
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- Minerals Council of Australia
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- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
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- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
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- SMC Global Power, Philippines
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- Global Green Power PLC Corporation, Philippines
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- Anglo American - United Kingdom
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
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- Price Waterhouse Coopers - Russia
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- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
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- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
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- Africa Commodities Group - South Africa
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- Orica Mining Services - Indonesia
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- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
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- White Energy Company Limited
- Cement Manufacturers Association - India
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- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- The University of Queensland
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- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
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- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Lanco Infratech Ltd - India
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- Independent Power Producers Association of India
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- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
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- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
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- VISA Power Limited - India
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- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
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- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
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