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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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Saturday, 27 June 09
HEAVY CONGESTION AT AUSTRALIAN PORTS REACHING ALL TIME HIGH TO 120 SHIPS IN EAST COAST AUSTRALIA - VISTAAR SHIPPING
COALspot.com (Singapore): The market this week was a bit soft and the BDI was down by almost 10 pct and closed at 3,703 points.
The drop in BDI i ...
Friday, 26 June 09
INDONESIA INVESTORS EYE BHP BILLITON COAL PROJECT
About four Indonesian investors are interested in taking over a coal project owned by BHP Billiton Ltd, a senior government mining official said.
...
Friday, 26 June 09
SOUTH AFRICA'S CONSULTING GROUP OPENS OFFICES IN CHINA, INDONESIA
Consulting engineering company SRK Consulting has opened new offices in Asia to cope with the growing demand for its services in the region.
The ...
Friday, 26 June 09
RUSSIA MECHEL TO DELIVER 2 MLN T COKING COAL TO ASIA
Russian steel and coal producer Mechel said on Thursday it had signed contracts to deliver about 2 million tonnes of coking coal concentrate to unna ...
Friday, 26 June 09
SA COAL EXPORTS UNLIKELY TO BREACH 65MT THIS YEAR
Coal volumes railed to South Africa’s Richards Bay Coal Terminal (RBCT) during the rain-affected first quarter of 2009 had fallen well short o ...
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- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
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- McConnell Dowell - Australia
- Planning Commission, India
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- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
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- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- The University of Queensland
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
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- Mjunction Services Limited - India
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- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
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- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
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- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
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- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
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- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
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- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
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- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
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- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
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- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
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- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
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- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
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- Maharashtra Electricity Regulatory Commission - India
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- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
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