COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE


The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.

The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.

Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.

The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.

Samin indirectly controls 73 percent of the company.

“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.

The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.

Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.

Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Friday, 09 September 11
SUPRA BARA SECURES $20 MILLION LOAN - JP
The Jakarta Post reported that, Coal miner PT Supra Bara Energi says it has secured a US$20 million loan facility from BNP Paribas to buy heavy equi ...


Friday, 09 September 11
CAPESIZE CAN SECURE USD 17-18K SHORT PERIOD - FEARNBULK
Handy The US Gulf has remained relatively steady, slightly more activity in the South Atlantic with owners aiming for low to mid USD 20k´s f ...


Thursday, 08 September 11
UKRAINES COAL PRODUCTION TO RISE 8% - IFANDP
Industrial fuels & power reported that, Ukraine will increase its coal output by about 8% this year compared to last year, said the country&rsqu ...


Thursday, 08 September 11
DRY BULK MARKETS RALLY COMES TO AN END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected by analysts and shipbrokers alike, the latest rally of the dry bulk market came to a halt yesterday, with the Baltic Dry Inde ...


Thursday, 08 September 11
TRADA MARITIME BUYS GUNUNG BARA UTAMA
Insider Stories reported that, PT Trada Maritime Tbk (TRAM) has purchased convertible bonds issued by PT Awesome Coal from Zakia Limited. The memora ...


   1017 1018 1019 1020 1021   
Showing 5091 to 5095 news of total 6871
News by Category
Popular News
 
Total Members : 28,623
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Port Waratah Coal Services - Australia
  • Bank of China, Malaysia
  • ETA - Dubai
  • Chamber of Mines of South Africa
  • International Coal Ventures Pvt Ltd - India
  • White Energy Company Limited
  • Maersk Broker
  • Asian Development Bank
  • Britmindo - Indonesia
  • Edison Trading Spa - Italy
  • GNFC Limited - India
  • Makarim & Taira - Indonesia
  • Leighton Contractors Pty Ltd - Australia
  • ICICI Bank Limited - India
  • Singapore Mercantile Exchange
  • Grasim Industreis Ltd - India
  • AsiaOL BioFuels Corp., Philippines
  • Mitsubishi Corporation
  • Bhushan Steel Limited - India
  • Indorama - Singapore
  • Gresik Semen - Indonesia
  • Bhatia International Limited - India
  • Sarangani Energy Corporation, Philippines
  • Georgia Ports Authority, United States
  • Adaro Indonesia
  • JPower - Japan
  • Orica Australia Pty. Ltd.
  • Infraline Energy - India
  • Renaissance Capital - South Africa
  • CCIC - Indonesia
  • Sical Logistics Limited - India
  • Mercator Lines Limited - India
  • Indo Tambangraya Megah - Indonesia
  • Cosco
  • Aditya Birla Group - India
  • JPMorgan - India
  • Merrill Lynch Commodities Europe
  • NALCO India
  • Miang Besar Coal Terminal - Indonesia
  • Eastern Energy - Thailand
  • Shree Cement - India
  • LBH Netherlands Bv - Netherlands
  • Iligan Light & Power Inc, Philippines
  • Vijayanagar Sugar Pvt Ltd - India
  • Wood Mackenzie - Singapore
  • Indian School of Mines
  • PLN - Indonesia
  • Riau Bara Harum - Indonesia
  • Straits Asia Resources Limited - Singapore
  • Kalimantan Lumbung Energi - Indonesia
  • Deloitte Consulting - India
  • Pendopo Energi Batubara - Indonesia
  • Directorate General of MIneral and Coal - Indonesia
  • Sojitz Corporation - Japan
  • HSBC - Hong Kong
  • KPCL - India
  • WorleyParsons
  • Dalmia Cement Bharat India
  • Ceylon Electricity Board - Sri Lanka
  • PetroVietnam
  • Cargill India Pvt Ltd
  • Xindia Steels Limited - India
  • Globalindo Alam Lestari - Indonesia
  • MEC Coal - Indonesia
  • Eastern Coal Council - USA
  • Wilmar Investment Holdings
  • Coalindo Energy - Indonesia
  • India Bulls Power Limited - India
  • Manunggal Multi Energi - Indonesia
  • Commonwealth Bank - Australia
  • The University of Queensland
  • SMC Global Power, Philippines
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • Neyveli Lignite Corporation Ltd, - India
  • Semirara Mining and Power Corporation, Philippines
  • Electricity Generating Authority of Thailand
  • Sinarmas Energy and Mining - Indonesia
  • TANGEDCO India
  • Romanian Commodities Exchange
  • Toyota Tsusho Corporation, Japan
  • Mitsui
  • Global Coal Blending Company Limited - Australia
  • Asmin Koalindo Tuhup - Indonesia
  • Ministry of Finance - Indonesia
  • CoalTek, United States
  • Salva Resources Pvt Ltd - India
  • Meenaskhi Energy Private Limited - India
  • Directorate Of Revenue Intelligence - India
  • Agrawal Coal Company - India
  • Moodys - Singapore
  • Central Electricity Authority - India
  • Latin American Coal - Colombia
  • Heidelberg Cement - Germany
  • Cebu Energy, Philippines
  • Malabar Cements Ltd - India
  • Kartika Selabumi Mining - Indonesia
  • Vedanta Resources Plc - India
  • Qatrana Cement - Jordan
  • Thomson Reuters GRC
  • Medco Energi Mining Internasional
  • Africa Commodities Group - South Africa
  • Gujarat Mineral Development Corp Ltd - India
  • Mechel - Russia
  • Freeport Indonesia
  • San Jose City I Power Corp, Philippines
  • Kepco SPC Power Corporation, Philippines
  • BNP Paribas - Singapore
  • CNBM International Corporation - China
  • Japan Coal Energy Center
  • Kaltim Prima Coal - Indonesia
  • Kobexindo Tractors - Indoneisa
  • KOWEPO - South Korea
  • Kapuas Tunggal Persada - Indonesia
  • Cardiff University - UK
  • Videocon Industries ltd - India
  • TNB Fuel Sdn Bhd - Malaysia
  • ACC Limited - India
  • Marubeni Corporation - India
  • Thailand Anthracite
  • GB Group - China
  • Uttam Galva Steels Limited - India
  • Idemitsu - Japan
  • CIMB Investment Bank - Malaysia
  • Barasentosa Lestari - Indonesia
  • Thai Mozambique Logistica
  • Bulk Trading Sa - Switzerland
  • MS Steel International - UAE
  • Rio Tinto Coal - Australia
  • TNPL - India
  • Altura Mining Limited, Indonesia
  • Banpu Public Company Limited - Thailand
  • OCBC - Singapore
  • Binh Thuan Hamico - Vietnam
  • Rashtriya Ispat Nigam Limited - India
  • Oldendorff Carriers - Singapore
  • Cemex - Philippines
  • Noble Europe Ltd - UK
  • Malco - India
  • Xstrata Coal
  • Geoservices-GeoAssay Lab
  • ANZ Bank - Australia
  • Jaiprakash Power Ventures ltd
  • Alfred C Toepfer International GmbH - Germany
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Asia Cement - Taiwan
  • UOB Asia (HK) Ltd
  • Jindal Steel & Power Ltd - India
  • Minerals Council of Australia
  • SASOL - South Africa
  • SRK Consulting
  • Ambuja Cements Ltd - India
  • Surastha Cement
  • Enel Italy
  • Indian Energy Exchange, India
  • Arch Coal - USA
  • Gupta Coal India Ltd
  • Carbofer General Trading SA - India
  • Mercuria Energy - Indonesia
  • GAC Shipping (India) Pvt Ltd
  • European Bulk Services B.V. - Netherlands
  • Glencore India Pvt. Ltd
  • PNOC Exploration Corporation - Philippines
  • Tanito Harum - Indonesia
  • Lanco Infratech Ltd - India
  • Siam City Cement - Thailand
  • Gujarat Sidhee Cement - India
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Power Finance Corporation Ltd., India
  • Bukit Baiduri Energy - Indonesia
  • IOL Indonesia
  • Arutmin Indonesia
  • GMR Energy Limited - India
  • Larsen & Toubro Limited - India
  • Sakthi Sugars Limited - India
  • Kumho Petrochemical, South Korea
  • New Zealand Coal & Carbon
  • Metalloyd Limited - United Kingdom
  • NTPC Limited - India
  • Borneo Indobara - Indonesia
  • IMC Shipping - Singapore
  • bp singapore
  • Bharathi Cement Corporation - India
  • APGENCO India
  • Aboitiz Power Corporation - Philippines
  • Berau Coal - Indonesia
  • Vizag Seaport Private Limited - India
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Baramulti Group, Indonesia
  • Indonesian Coal Mining Association
  • Thiess Contractors Indonesia
  • SUEK AG - Indonesia
  • Meralco Power Generation, Philippines
  • Fearnleys - India
  • Price Waterhouse Coopers - Russia
  • Antam Resourcindo - Indonesia
  • Electricity Authority, New Zealand
  • Central Java Power - Indonesia
  • Economic Council, Georgia
  • Rudhra Energy - India
  • Permata Bank - Indonesia
  • Coal and Oil Company - UAE
  • Inspectorate - India
  • SMG Consultants - Indonesia
  • Bangkok Bank PCL
  • Maheswari Brothers Coal Limited - India
  • Cement Manufacturers Association - India
  • Coal Orbis AG
  • Goldman Sachs - Singapore
  • Bank of America
  • Kobe Steel Ltd - Japan
  • KPMG - USA
  • Bhoruka Overseas - Indonesia
  • Trasteel International SA, Italy
  • Indonesia Power. PT
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • UBS Singapore
  • Platou - Singapore
  • Ince & co LLP
  • The Treasury - Australian Government
  • SN Aboitiz Power Inc, Philippines
  • BRS Brokers - Singapore
  • EMO - The Netherlands
  • Barclays Capital - USA
  • Therma Luzon, Inc, Philippines
  • Independent Power Producers Association of India
  • Tata Chemicals Ltd - India
  • Tata Power - India
  • The India Cements Ltd
  • The State Trading Corporation of India Ltd
  • Maruti Cements - India
  • TRAFIGURA, South Korea
  • Credit Suisse - India
  • SGS (Thailand) Limited
  • Gujarat Electricity Regulatory Commission - India
  • Bukit Asam (Persero) Tbk - Indonesia
  • Clarksons - UK
  • Bukit Makmur.PT - Indonesia
  • Argus Media - Singapore
  • Jorong Barutama Greston.PT - Indonesia
  • Merrill Lynch Bank
  • Madhucon Powers Ltd - India
  • TGV SRAAC LIMITED, India
  • CESC Limited - India
  • Planning Commission, India
  • Vitol - Bahrain
  • Semirara Mining Corp, Philippines
  • PLN Batubara - Indonesia
  • Shenhua Group - China
  • Karbindo Abesyapradhi - Indoneisa
  • Platts
  • Petrochimia International Co. Ltd.- Taiwan
  • Attock Cement Pakistan Limited
  • Formosa Plastics Group - Taiwan
  • Pipit Mutiara Jaya. PT, Indonesia
  • Posco Energy - South Korea
  • U S Energy Resources
  • ING Bank NV - Singapore
  • Bangladesh Power Developement Board
  • Inco-Indonesia
  • Cigading International Bulk Terminal - Indonesia
  • Adani Power Ltd - India
  • Bayan Resources Tbk. - Indonesia
  • Energy Development Corp, Philippines
  • PowerSource Philippines DevCo
  • ASAPP Information Group - India
  • Reliance Power - India
  • Maybank - Singapore
  • Karaikal Port Pvt Ltd - India
  • Peabody Energy - USA
  • Indian Oil Corporation Limited
  • Global Business Power Corporation, Philippines
  • Russian Coal LLC
  • Global Green Power PLC Corporation, Philippines
  • J M Baxi & Co - India
  • Energy Link Ltd, New Zealand
  • Chettinad Cement Corporation Ltd - India
  • Mintek Dendrill Indonesia
  • globalCOAL - UK
  • Krishnapatnam Port Company Ltd. - India
  • Maharashtra Electricity Regulatory Commission - India
  • Thriveni
  • Sucofindo - Indonesia
  • Interocean Group of Companies - India
  • Sree Jayajothi Cements Limited - India
  • Parliament of New Zealand
  • Petrosea - Indonesia
  • EIA - United States
  • McKinsey & Co - India
  • Ernst & Young Pvt. Ltd.
  • IHS Mccloskey Coal Group - USA
  • Runge Indonesia
  • Timah Investasi Mineral - Indoneisa
  • Mjunction Services Limited - India
  • Pinang Coal Indonesia
  • London Commodity Brokers - England
  • Australian Coal Association
  • South Luzon Thermal Energy Corporation
  • Orica Mining Services - Indonesia
  • Ministry of Transport, Egypt
  • Kideco Jaya Agung - Indonesia
  • GN Power Mariveles Coal Plant, Philippines
  • McConnell Dowell - Australia
  • Panama Canal Authority
  • Samtan Co., Ltd - South Korea
  • Vale Mozambique
  • OPG Power Generation Pvt Ltd - India
  • Sindya Power Generating Company Private Ltd
  • GVK Power & Infra Limited - India
  • Indogreen Group - Indonesia
  • Jatenergy - Australia
  • Mitra SK Pvt Ltd - India
  • Petron Corporation, Philippines
  • Humpuss - Indonesia
  • Australian Commodity Traders Exchange
  • Standard Chartered Bank - UAE
  • Total Coal South Africa
  • Kohat Cement Company Ltd. - Pakistan
  • Anglo American - United Kingdom
  • PetroVietnam Power Coal Import and Supply Company
  • PTC India Limited - India
  • World Bank
  • Indika Energy - Indonesia
  • Intertek Mineral Services - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Deutsche Bank - India
  • KEPCO - South Korea
  • DBS Bank - Singapore
  • IEA Clean Coal Centre - UK
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Ind-Barath Power Infra Limited - India
  • Savvy Resources Ltd - HongKong
  • IBC Asia (S) Pte Ltd
  • VISA Power Limited - India
  • Thermax Limited - India
  • Coastal Gujarat Power Limited - India
  • Samsung - South Korea
  • TeaM Sual Corporation - Philippines
  • Core Mineral Indonesia
  • GHCL Limited - India
  • Holcim Trading Pte Ltd - Singapore
  • Star Paper Mills Limited - India
  • Parry Sugars Refinery, India
  • Ministry of Mines - Canada
  • Lafarge - France
  • Siam City Cement PLC, Thailand
  • Simpson Spence & Young - Indonesia
  • Coaltrans Conferences
  • Essar Steel Hazira Ltd - India
  • Billiton Holdings Pty Ltd - Australia
  • Tamil Nadu electricity Board
  • RBS Sempra - UK
  • Coal India Limited
  • World Coal - UK
  • Coeclerici Indonesia