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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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Monday, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
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- White Energy Company Limited
- Rio Tinto Coal - Australia
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- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- New Zealand Coal & Carbon
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- Interocean Group of Companies - India
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- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
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- Africa Commodities Group - South Africa
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- Australian Coal Association
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- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
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- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
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- Bangladesh Power Developement Board
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- Indonesian Coal Mining Association
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- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
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- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
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- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
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- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
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- SMG Consultants - Indonesia
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- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Bhatia International Limited - India
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- Sindya Power Generating Company Private Ltd
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- Directorate General of MIneral and Coal - Indonesia
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- Georgia Ports Authority, United States
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- Bulk Trading Sa - Switzerland
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