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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
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- Aboitiz Power Corporation - Philippines
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- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
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- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
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- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
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- GMR Energy Limited - India
- Anglo American - United Kingdom
- Planning Commission, India
- Standard Chartered Bank - UAE
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- International Coal Ventures Pvt Ltd - India
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- Independent Power Producers Association of India
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- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
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- Minerals Council of Australia
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- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
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- Tata Chemicals Ltd - India
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- Parry Sugars Refinery, India
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- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
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- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- The University of Queensland
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- VISA Power Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
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- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
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- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
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- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
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- Gujarat Sidhee Cement - India
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- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
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- Wilmar Investment Holdings
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- Interocean Group of Companies - India
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- Thiess Contractors Indonesia
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- Bangladesh Power Developement Board
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- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- TeaM Sual Corporation - Philippines
- Australian Coal Association
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