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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$391 million, the three local governments have chosen PT Multicapital, a subsidiary of Indonesia's biggest mining company PT Bumi Resources, as their partner to facilitate the deal.
No agreement so far has been made between the government and Newmont on the value of the remaining 21 percent shares nor how the government going to come up with the funds for the acquisition.
Last month, State Minister for State Enterprises Sofyan Djalil expressed his full support for state mining company PT Aneka Tambang and coal producer PT Tambang Batubara Bukit Asam (PTBA) to take part in the acquisition through a joint financing with local governments.
Source: The Jakarta Post
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Saturday, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
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