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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, 05 September 09
INDIA BUYING INTO AUSTRALIA'S COAL - INTERVIEW
India is in line to buy vast amounts of Australian coal. An Indian cabinet minister is on a special mission to Australia to help satisfy India's ur ...
Saturday, 05 September 09
52 COMPANIES SUBMIT EOIS TO COAL INDIA
The Hindu, India's largest English news paper reported that, International mining majors from the U.S., South Africa, Australia and Indonesia are a ...
Friday, 04 September 09
INDONESIA PAITON ENERGY BUYS COAL FROM ADARO, KIDECO
PT Paiton Energy, an Indonesian independent power producer, has agreed to buy 3 million tonnes of coal from PT Adaro Energy Tbk (ADRO.JK) and PT Kid ...
Thursday, 03 September 09
ICVL IN TALKS FOR COAL BLOCKS IN INDONESIA
These acquisitions will help ICVL meet an internal target of importing at least 5 million tonnes (mt) of coking coal by 2012-13
LiveMint reported ...
Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
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- Goldman Sachs - Singapore
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- Economic Council, Georgia
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- Sree Jayajothi Cements Limited - India
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- Commonwealth Bank - Australia
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- Edison Trading Spa - Italy
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- Maheswari Brothers Coal Limited - India
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- Standard Chartered Bank - UAE
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- Indian Oil Corporation Limited
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- Siam City Cement PLC, Thailand
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- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
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- Videocon Industries ltd - India
- SMC Global Power, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
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- Xindia Steels Limited - India
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- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sarangani Energy Corporation, Philippines
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- Chamber of Mines of South Africa
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- Chettinad Cement Corporation Ltd - India
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- Minerals Council of Australia
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- Eastern Coal Council - USA
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- Bhoruka Overseas - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
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- The University of Queensland
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- Independent Power Producers Association of India
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- Parliament of New Zealand
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- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
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- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
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- SMG Consultants - Indonesia
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- Uttam Galva Steels Limited - India
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- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
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