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

Thursday, 23 December 10
SOUTHGOBI RESOURCES CLOSES STRATEGIC INVESTMENT IN ASPIRE MINING LIMITED
Press Release – SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878), announced today that it has completed the private placement with Aspire Mining ...


Thursday, 23 December 10
CESC EYES COAL MINES IN INDONESIA, S AFRICA - TEHELKA
Company has already set a target of adding 6,000 MW power generation by the end of the 12th Plan in 2017 Tehelka reported that, CESC Ltd, the fla ...


Thursday, 23 December 10
SANTA CLAUSE DID NOT COME EARLY THIS YEAR - FEARNBULK
Handy Not  much  fresh  enquiry  this  week  and  quite  dead  in  Bl.Sea/Med. Nevertheless  ...


Thursday, 23 December 10
STERLITE ENERGY LIMITED TO BUY 0.6 MLN MT OF COAL FOR 2011
COALspot.com - Sterlite Energy Limited (SEL) is a part of Vedanta Resources plc , a London listed FTSE 100 diversified metals and mining major with ...


Wednesday, 22 December 10
PEABODY ENERGY TO SOURCE INDONESIAN COAL FROM PT SUPRA BARA ENERGI (SBE) - COAL GEOLOGY
Coal Geology reported that, Peabody Energy has entered into an agreement to source coal from PT Supra Bara Energi (SBE), which will be sold on the e ...


   1093 1094 1095 1096 1097   
Showing 5471 to 5475 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 ...

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