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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, 12 September 09
$1.5B KALIMANTAN COAL RAIL TENDER EXPECTED BY YEAR-END
The Jakarta Globe reported that, In the second announcement on major coal-railway projects in as many days, Central Kalimantan’s top official ...
Friday, 11 September 09
INDONESIA COAL-PRICES AT $66, SUPPLIERS OFFER AT BARGAIN PRICES
Some Indonesian producers were rushing to sell coal at bargain prices to ease excess stocks and catch shipments before the Muslim Eid Al-Fitr festiv ...
Friday, 11 September 09
ALPHA NATURAL EXPECTS HIGHER MET, STEAM COAL PRICES IN 2010
Mining Weekly reported that, There are encouraging signs that metallurgical coal demand in most key global markets is either returning or poised to ...
Friday, 11 September 09
POWER SECTOR'S DEPENDENCE ON COAL TO CONTINUE
The power sector will continue to be largely dependant on coal-based thermal power plants to meet its energy needs for the next 15-20 years, Power S ...
Friday, 11 September 09
L&T EYES AUSSIE COAL MINE
Commodity Online reported that, Larsen and Toubro is in talks to buy a thermal coal mine in Australia for about $300 million. Thermal coal is used f ...
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- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
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- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
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- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
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- Cement Manufacturers Association - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
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- Romanian Commodities Exchange
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- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
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- Aditya Birla Group - India
- SMG Consultants - Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
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- White Energy Company Limited
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- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
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- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
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- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
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- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
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- Mercator Lines Limited - India
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- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
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- GVK Power & Infra Limited - India
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- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
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- Jorong Barutama Greston.PT - Indonesia
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- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
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- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
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- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Minerals Council of Australia
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- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
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- London Commodity Brokers - England
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