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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$391 million, the three local governments have chosen PT Multicapital, a subsidiary of Indonesia's biggest mining company PT Bumi Resources, as their partner to facilitate the deal.
No agreement so far has been made between the government and Newmont on the value of the remaining 21 percent shares nor how the government going to come up with the funds for the acquisition.
Last month, State Minister for State Enterprises Sofyan Djalil expressed his full support for state mining company PT Aneka Tambang and coal producer PT Tambang Batubara Bukit Asam (PTBA) to take part in the acquisition through a joint financing with local governments.
Source: The Jakarta Post
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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
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- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
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- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
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- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
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- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
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- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
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- Karbindo Abesyapradhi - Indoneisa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
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- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
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- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
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- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Electricity Authority, New Zealand
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- Chamber of Mines of South Africa
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- Orica Australia Pty. Ltd.
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