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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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Wednesday, 01 July 09
NEWCASTLE WEEKLY COAL EXPORTS RISE BY 12PCT
Bloomberg reported that Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, gained 12% last ...
Wednesday, 01 July 09
RS 6,000CR MMTC COAL IMPORT PLAN UNDER CLOUD
The plan of MMTC Ltd, a trading firm under the commerce ministry, to import coal worth Rs 6,000 crore has come under cloud, with the Central ...
Wednesday, 01 July 09
INDONESIAN FIRM BIDS FOR 130,000T COAL FOR NAPOCOR
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it received two bids from Indonesia's PT Trubaindo and its loc ...
Wednesday, 01 July 09
COAL PRICE INDEX TO BE LAUNCHED IN JULY
India will soon get a coal index to track the coal price movement in the country.
India's leading e-commerce company Mjunction Services Ltd will ...
Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
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- IHS Mccloskey Coal Group - USA
- Planning Commission, India
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- Singapore Mercantile Exchange
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- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
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- Economic Council, Georgia
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- Wilmar Investment Holdings
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- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
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- Electricity Generating Authority of Thailand
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- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
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- Merrill Lynch Commodities Europe
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- Deloitte Consulting - India
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- Bulk Trading Sa - Switzerland
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- MS Steel International - UAE
- Thiess Contractors Indonesia
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- Coal and Oil Company - UAE
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- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
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- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
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- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
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- Bangladesh Power Developement Board
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- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
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- Ministry of Finance - Indonesia
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- Anglo American - United Kingdom
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- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
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- Mercator Lines Limited - India
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- Lanco Infratech Ltd - India
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- Electricity Authority, New Zealand
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- Neyveli Lignite Corporation Ltd, - India
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- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
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- The State Trading Corporation of India Ltd
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- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
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- Bhoruka Overseas - Indonesia
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- Tamil Nadu electricity Board
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