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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, 12 August 09
COAL INDIA TO IMPORT 4 MLN T 2009/10 - MEDIA
State-run Coal India Ltd plans to directly import 4 million tonnes of coal in the current fiscal year to March 2010, Chairman Partha Bhattacharyya s ...
Wednesday, 12 August 09
CHINA'S LARGEST COAL PRODUCER TO SET UP COAL RESERVES
China's National Development and Reform Commission has commissioned China Shenhua Energy Co., the nation's largest coal producer, to build 10 stor ...
Wednesday, 12 August 09
NALCO SMELTER CONSTRUCTION MAY FACE DELAY
The Jakarta Post reported that, India’s state-run National Aluminum Company (Nalco) may postpone the construction of an aluminum smelter in In ...
Wednesday, 12 August 09
COAL MINE PLAN SHOT DOWN OVER GREEN CONCERNS
The Times of India reported that, In a major setback to Adani Powers, the principal chief conservator of forests (PCCF) has rejected its proposal fo ...
Tuesday, 11 August 09
INDONESIA'S COAL EXPORTS TO INDIA WILL BE EXEMPTED FROM DUTIES STARTING JANUARY 1, 2013 - BERITA SORE
Berita sore reported that, ASEAN is scheduled to sign a long-awaited Free Trade Agreement (FTA) with India in Bangkok on Thursday aimed at boosting ...
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- Eastern Energy - Thailand
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- The State Trading Corporation of India Ltd
- White Energy Company Limited
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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- Therma Luzon, Inc, Philippines
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- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
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- South Luzon Thermal Energy Corporation
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- Krishnapatnam Port Company Ltd. - India
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- Mintek Dendrill Indonesia
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- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
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- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
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- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Indian Energy Exchange, India
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- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
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- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
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- Renaissance Capital - South Africa
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- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
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- Thai Mozambique Logistica
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- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
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- Samtan Co., Ltd - South Korea
- The University of Queensland
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- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
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- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
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- Thiess Contractors Indonesia
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- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
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- Georgia Ports Authority, United States
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- PTC India Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
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- Kaltim Prima Coal - Indonesia
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- PNOC Exploration Corporation - Philippines
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- Trasteel International SA, Italy
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- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
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- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
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- Baramulti Group, Indonesia
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