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

Saturday, 15 January 11
MAKE SACRIFICES TO SAVE PLN, INDONESIA GOVT BEGS MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Darwin Zahedi Saleh, Indonesia's minister of energy and mineral resources, on Friday appealed to local coal compan ...


Saturday, 15 January 11
RISING PRICES, GOVERNMENT DECREE LEAVE PLN AT LOGGERHEADS WITH COAL FIRMS - THE JAKARTA GLOBE
The Jakarta Globe reported that, As coal prices continue to increase, state utility Perusahaan Listrik Negara faces problems in securing enough coal ...


Thursday, 13 January 11
SURGING COAL PRICES UNDERMINE PLN'S EFFICIENCY PROGRAM - THE JAKARTA POST
The Jakarta Post reported that, The soaring global coal prices are undermining state electricity company PT PLN's pledge to improve its operational ...


Thursday, 13 January 11
SPML INFRA TO DOUBLE INDONESIA COAL MINE OUTPUT IN TWO YEARS - DNA INDIA
DNA India reported that, Kolkata-based infrastructure company SPML Infra, formerly Subhash Projects & Marketing Ltd, will in two years nearly do ...


Thursday, 13 January 11
DRY BULK RATES HIT NEW MULTI-MONTH LOWS ON AUSTRALIAS FLOODS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Floods in Australia’s Queensland has seriously disrupted coal shipments and together with a flood of vessels has pushed freight rates for dry ...


   1084 1085 1086 1087 1088   
Showing 5426 to 5430 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 ...

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