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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, 21 July 09
FIRST QUARTER COAL MARKET AND EURACOAL'S OUTLOOK FOR THE FUTURE
Euracoal reports that for the first time in many years, the world market for hard coal fell by some 8 % during the first quarter 2009. This latest E ...
Monday, 20 July 09
CHINAS COAL DEMAND, OUTPUT TO PICK UP IN H2 - GROUP 2
Financial24 reported that, China's coal demand is expected to gradually pick up in the second half of the year, and coal output will likely grow fa ...
Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering ...
Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months a ...
Monday, 20 July 09
CHINA COAL PRODUCES 52.7 MLN TONNES OF COAL IN 1H, UP 5.4 PCT
China Mining reported that, China Coal Energy Co., the country's second largest coal producer, said Saturday that it produced 52.67 million tonnes ...
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- Billiton Holdings Pty Ltd - Australia
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- PowerSource Philippines DevCo
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- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
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- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
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- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
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- Baramulti Group, Indonesia
- The Treasury - Australian Government
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- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Sarangani Energy Corporation, Philippines
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- Toyota Tsusho Corporation, Japan
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- Eastern Energy - Thailand
- Cement Manufacturers Association - India
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- Sojitz Corporation - Japan
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- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
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- India Bulls Power Limited - India
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- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
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- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
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- Ind-Barath Power Infra Limited - India
- Australian Coal Association
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- Parliament of New Zealand
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- White Energy Company Limited
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
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- Directorate Of Revenue Intelligence - India
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- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
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- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
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- Marubeni Corporation - India
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- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
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- Merrill Lynch Commodities Europe
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- Sindya Power Generating Company Private Ltd
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- Indian Oil Corporation Limited
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- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Planning Commission, India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
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- Minerals Council of Australia
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- Savvy Resources Ltd - HongKong
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- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
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