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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, 21 April 09
INDONESIAN GOVT TO ALLOW UNDERGROUND MINING IN PROTECTED FORESTS - THE JAKARTA POST
The government will issue a regulation allowing mining companies to carry out underground mining in protected forests.
"This regulation will ...
Tuesday, 21 April 09
INDONESIAN GOVT LIKELY TO MISS INVESTMENT TARGETS FOR ENERGY, MINING - THE JAKARTA POST
The total value of investments in energy and mining sectors by the end of the year is likely to be below the government’s target, as a result of ...
Monday, 20 April 09
INDONESIAN COAL MINING ASSOCIATION CALLED TO CONTROL MINERS - MAJALA TAMBANG
The Indonesian Coal Mining Association (ICMA) is called to expand its membership further in view of controlling the conduct of miners in the nationa ...
Monday, 20 April 09
BANPU PLANS TO SHIP 2 MLN T COAL TO CHINA IN 09 - REUTERS
Banpu, Thailand's largest coal miner, plans to increase coal shipments to China by about 30 percent to 2 million tonnes in 2009, company officials ...
Monday, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
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- Binh Thuan Hamico - Vietnam
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- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
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- Independent Power Producers Association of India
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- Meenaskhi Energy Private Limited - India
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- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
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- Grasim Industreis Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
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- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
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- Gujarat Sidhee Cement - India
- Minerals Council of Australia
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- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
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- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
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- Romanian Commodities Exchange
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- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Planning Commission, India
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- IEA Clean Coal Centre - UK
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- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
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- Energy Link Ltd, New Zealand
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- ICICI Bank Limited - India
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- The State Trading Corporation of India Ltd
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- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
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- Ambuja Cements Ltd - India
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- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Georgia Ports Authority, United States
- Videocon Industries ltd - India
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- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
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- Mercator Lines Limited - India
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- Bhatia International Limited - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
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- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
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- Merrill Lynch Commodities Europe
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- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
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- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
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