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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$391 million, the three local governments have chosen PT Multicapital, a subsidiary of Indonesia's biggest mining company PT Bumi Resources, as their partner to facilitate the deal.
No agreement so far has been made between the government and Newmont on the value of the remaining 21 percent shares nor how the government going to come up with the funds for the acquisition.
Last month, State Minister for State Enterprises Sofyan Djalil expressed his full support for state mining company PT Aneka Tambang and coal producer PT Tambang Batubara Bukit Asam (PTBA) to take part in the acquisition through a joint financing with local governments.
Source: The Jakarta Post
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Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
Tuesday, 02 June 09
ADARO MAY RAISE COAL SALES TO CHINA, INDIA PLANTS - THE JAKARTA GLOBE
PT Adaro Energy, the country’s second-largest coal producer, may increase sales of power-plant coal to China and India on signs of a global ec ...
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- Indian Oil Corporation Limited
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- Grasim Industreis Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
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- IEA Clean Coal Centre - UK
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- Australian Coal Association
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- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
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- Parliament of New Zealand
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- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
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- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
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- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
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- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
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- Directorate General of MIneral and Coal - Indonesia
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- European Bulk Services B.V. - Netherlands
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- Australian Commodity Traders Exchange
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- Energy Development Corp, Philippines
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- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
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- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
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- Power Finance Corporation Ltd., India
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- The University of Queensland
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- Dalmia Cement Bharat India
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- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
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- Bharathi Cement Corporation - India
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- The State Trading Corporation of India Ltd
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- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
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