There template file is missing in the code of xml
<block type="checkout/cart_sidebar" name="checkout.basket" as="checkoutBasket" template="pathoftemplate/basket.phtml" />
if you want to show all cart item just like default then
<block type="checkout/cart_sidebar" name="checkout.basket" as="checkoutBasket" template="pathoftemplate/basket.phtml">
<action method="addItemRender"><type>simple</type><block>checkout/cart_item_renderer</block><template>checkout/cart/sidebar/default.phtml</template></action>
<action method="addItemRender"><type>grouped</type><block>checkout/cart_item_renderer_grouped</block><template>checkout/cart/sidebar/default.phtml</template></action>
<action method="addItemRender"><type>configurable</type><block>checkout/cart_item_renderer_configurable</block><template>checkout/cart/sidebar/default.phtml</template></action>
<block type="core/text_list" name="cart_sidebar.extra_actions" as="extra_actions" translate="label" module="checkout">
<label>Shopping Cart Sidebar Extra Actions</label>
</block>
And code must be add in basket.phtml
<?php if ($this->getIsNeedToDisplaySideBar()):?>
<div class="block block-cart">
<?php $_cartQty = $this->getSummaryCount() ?>
<div class="block-title">
<strong><span><?php echo $this->__('My Cart') ?></span></strong>
</div>
<div class="block-content">
<?php if ($_cartQty>0): ?>
<div class="summary">
<?php if ($_cartQty==1): ?>
<p class="amount"><?php echo $this->__('There is <a href="%s">1 item</a> in your cart.', $this->getUrl('checkout/cart')) ?></p>
<?php else: ?>
<p class="amount"><?php echo $this->__('There are <a href="%s">%s items</a> in your cart.', $this->getUrl('checkout/cart'), $_cartQty) ?></p>
<?php endif ?>
<p class="subtotal">
<?php if ($this->canApplyMsrp()): ?>
<span class="map-cart-sidebar-total"><?php echo $this->__('ORDER TOTAL WILL BE DISPLAYED BEFORE YOU SUBMIT THE ORDER'); ?></span>
<?php else: ?>
<span class="label"><?php echo $this->__('Cart Subtotal:') ?></span> <?php echo Mage::helper('checkout')->formatPrice($this->getSubtotal()) ?>
<?php if ($_subtotalInclTax = $this->getSubtotalInclTax()): ?>
<br />(<?php echo Mage::helper('checkout')->formatPrice($_subtotalInclTax) ?> <?php echo Mage::helper('tax')->getIncExcText(true) ?>)
<?php endif; ?>
<?php endif; ?>
</p>
</div>
<?php endif ?>
<?php if($_cartQty && $this->isPossibleOnepageCheckout()): ?>
<div class="actions">
<?php echo $this->getChildHtml('extra_actions') ?>
<button type="button" title="<?php echo $this->__('Checkout') ?>" class="button" onclick="setLocation('<?php echo $this->getCheckoutUrl() ?>')"><span><span><?php echo $this->__('Checkout') ?></span></span></button>
</div>
<?php endif ?>
<?php $_items = $this->getRecentItems() ?>
<?php if(count($_items)): ?>
<p class="block-subtitle"><?php echo $this->__('Recently added item(s)') ?></p>
<ol id="cart-sidebar" class="mini-products-list">
<?php foreach($_items as $_item): ?>
<?php echo $this->getItemHtml($_item) ?>
<?php endforeach; ?>
</ol>
<script type="text/javascript">decorateList('cart-sidebar', 'none-recursive')</script>
<?php else: ?>
<p class="empty"><?php echo $this->__('You have no items in your shopping cart.') ?></p>
<?php endif ?>
</div>
</div>
<?php endif;?>