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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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Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
Saturday, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
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- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
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- Eastern Energy - Thailand
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- Kumho Petrochemical, South Korea
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- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
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- Aboitiz Power Corporation - Philippines
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- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
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- South Luzon Thermal Energy Corporation
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- Rio Tinto Coal - Australia
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- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
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- GAC Shipping (India) Pvt Ltd
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- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
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- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
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- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
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- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
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- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
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- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
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- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
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- Orica Australia Pty. Ltd.
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- The Treasury - Australian Government
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Coal and Oil Company - UAE
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- Neyveli Lignite Corporation Ltd, - India
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- ASAPP Information Group - India
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- Oldendorff Carriers - Singapore
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- Thai Mozambique Logistica
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- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
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- New Zealand Coal & Carbon
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- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
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- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
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- Krishnapatnam Port Company Ltd. - India
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- International Coal Ventures Pvt Ltd - India
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- GMR Energy Limited - India
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- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- PTC India Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
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- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
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