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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$391 million, the three local governments have chosen PT Multicapital, a subsidiary of Indonesia's biggest mining company PT Bumi Resources, as their partner to facilitate the deal.
No agreement so far has been made between the government and Newmont on the value of the remaining 21 percent shares nor how the government going to come up with the funds for the acquisition.
Last month, State Minister for State Enterprises Sofyan Djalil expressed his full support for state mining company PT Aneka Tambang and coal producer PT Tambang Batubara Bukit Asam (PTBA) to take part in the acquisition through a joint financing with local governments.
Source: The Jakarta Post
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Tuesday, 07 July 09
ECONOMIC SURVEY 2008-09 OPEN UP COAL TO FUEL POWER PLANTS
TOI reported that the coal ministry's efforts at opening doors for full private entry through open bidding in coal mining got a boost, with the Eco ...
Tuesday, 07 July 09
POWER - STATION COAL MAY RISE ON CHINA DEMAND, SUPPLIES, UBS SAYS
Power-station coal prices in Asia may increase in 2010 because of higher demand from China, the second-largest energy-consuming nation, and supply c ...
Saturday, 04 July 09
FREIGHT FUTURE FOR 3 YEARS UNTIL 2012 WAS FAIRLY SOFT AROUND PANAMAX / US$ 16,000, SUPRAMAX / US$ 13,000 PER DAY
COALspot.com (Singapore): According to Vistaar shipping, an experinced ship operator in Singapore, the freight market was soft with bit nervousness ...
Saturday, 04 July 09
CHINA BUYS 17% OF MINER TECK RESOURCES FOR $1.5 BILLION
* To sell 17.2 percent stake to China Investment Corp
* To raise proceeds of C$1.74 bln
* Shares rise 3.2 percent (Adds details. In U.S. dol ...
Saturday, 04 July 09
MINING CONTRACT SOUGHT FOR COAL AREA IN MASBATE
Because of its coal deposits, a town in Masbate is one of the sites in the country being sought out for exploration and development by mining compan ...
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- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- The University of Queensland
- Planning Commission, India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
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