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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, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
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