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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, 23 May 09
THE SPOT SUPRAMAX CONTINUED TO BE FIRM - VISTAAR SINGAPORE
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, an experienced ship operator from Singapore, said, the beginning of the week continued ...
Saturday, 23 May 09
INDONESIA'S COAL OUTPUT SLUMPS IN Q1 ON LOWER PRICES, FALLING DEMAND - THE JAKARTA GLOBE
Falling international coal prices, bad weather and other problems cut first-quarter coal output by 50 percent to 30 million tons against an initial ...
Saturday, 23 May 09
INDIAN GOVT PLANS TO BUILD FIVE COAL-BASED POWER PLANTS AT $3.5B TO END CRISIS - THE FINANCIAL EXPRESS
The government has started working on a plan to set up five coal-based power plants with combined capacity of 2,500 mega watt to solve the country' ...
Saturday, 23 May 09
INTERNATIONAL COAL VENTURES PVT LTD FORMED - INDIA SERVER
National Thermal Power Corporation Limited (NTPC Ltd), the largest thermal power generating company of India, has entered into a joint venture with ...
Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
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- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
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