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Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
 The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 million stake in Bumi Resources, Indonesia’s largest coal producer.
Bakrie financial director Eddy Soeparno said Glencore had bought the stock since June. “We have an option to buy back the stake from Glencore within two years,” Soeparno said.
Based on Bumi’s average closing share price and the rupiah’s exchange rate, the deal may mean Glencore has about a 5 percent stake in Bumi.
Eddy said Glencore — a marketing agent for Bumi coal — saw Bumi shares appreciating.
Bumi director Dileep Srivastava confirmed on Wednesday that Glencore had been acquiring shares but would not say how many.
“Based on [Bumi’s] financial records released on June 30, no one company owns more than 5 percent of Bumi’s shares, except for Bakrie & Brothers, which owns 21 percent in several blocks,” he said.
Bakrie & Brothers is the holding company controlled by the family of Aburizal Bakrie, a business tycoon and politician.
Privately held Glencore has become a global marketing agent outside Japan for Kaltim Prima Coal, Bumi’s main coal mining unit.
Glencore supplies metals, minerals, oil products, coal and agricultural products to companies in more than 40 countries. Its sales turnover for the 2009 fiscal year was $106.4 billion, and its assets were $66.3 billion at the end of 2009.
Glencore spokesman Carlos Perezagua declined to comment.
A source at Bakrie & Brothers said the investment holding firm did not have enough cash to increase its stake in Bumi but also saw a potential upside for the miner’s shares.
Bumi stock has tumbled 29 percent this year, underperforming the Jakarta Composite Index’s 27 percent rise, because of concerns about corporate governance and high debt. Its forward PE ratio is 6.15, versus 10.36 for rival Adaro Energy.
Source: The Jakarta Globe
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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
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- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
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- Power Finance Corporation Ltd., India
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- Coal and Oil Company - UAE
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- Directorate General of MIneral and Coal - Indonesia
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- Orica Australia Pty. Ltd.
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- The State Trading Corporation of India Ltd
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- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
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- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
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- Indonesian Coal Mining Association
- Australian Coal Association
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
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