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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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Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
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