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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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Friday, 12 June 09
THERMAL COAL PRICE REMAINS STABLE IN SHANXI - STEEL GURU
It is reported that coming into June, no major changes are seen in coal supply-demand relations in Shanxi province. Statistics of Qinhuangdao port, ...
Thursday, 11 June 09
PT NALCO PLANS TO CONSTRUCT COAL-FIRED POWER PLANT IN SOUTH SUMATRA - ENERGY BUSINESS REVIEW
PT Nalco (National Aluminium Company Limited), an Indian-based company, plans to construct a coal-fired power plant in South Sumatra. The company in ...
Thursday, 11 June 09
COAL PRODUCERS TO SEE BOOST IN DEMAND FROM ASIA PACIFIC - JAKARTA POST
The Jakarta Post reported that, at the recent 15th Coaltrans conference in Bali, we noted concerns related to rising oil prices at a faster pace tha ...
Wednesday, 10 June 09
BHP TO CUT 450 JOBS AT INDONESIAN COAL PROJECT - REUTERS
Reuters reported that, BHP Billiton Ltd will lay off all 450 workers at its Indonesian coal project after deciding not to go ahead with the pr ...
Monday, 08 June 09
PTC INDIA TO ACQUIRE COAL MINES IN AUSTRALIA, INDONESIA - PTI NEWS
PTI reported that, State-owned Power Trading Corp today said it would acquire coal properties overseas and has identified mines in Australia and Ind ...
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- Binh Thuan Hamico - Vietnam
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- Pipit Mutiara Jaya. PT, Indonesia
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- Deloitte Consulting - India
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- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
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- Eastern Coal Council - USA
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- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
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- PTC India Limited - India
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- Wood Mackenzie - Singapore
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- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
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- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
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- Attock Cement Pakistan Limited
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- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
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- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
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- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
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- Makarim & Taira - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
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- Mjunction Services Limited - India
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- GVK Power & Infra Limited - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
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- Cement Manufacturers Association - India
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- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
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- Dalmia Cement Bharat India
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- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Salva Resources Pvt Ltd - India
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- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
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- Toyota Tsusho Corporation, Japan
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- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- The University of Queensland
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- Indian Oil Corporation Limited
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- Rashtriya Ispat Nigam Limited - India
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- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
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- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
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- White Energy Company Limited
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