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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Central Java Power - Indonesia
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- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
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- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
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- Oldendorff Carriers - Singapore
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- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
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- Tata Chemicals Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
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- Jaiprakash Power Ventures ltd
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- Savvy Resources Ltd - HongKong
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- New Zealand Coal & Carbon
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- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- VISA Power Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
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- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
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- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- PTC India Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
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- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
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- Siam City Cement PLC, Thailand
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- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
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- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
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- Sree Jayajothi Cements Limited - India
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- MS Steel International - UAE
- Australian Coal Association
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- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
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- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
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- Kumho Petrochemical, South Korea
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