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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
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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 ...
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- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- 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
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- 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
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- 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
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- 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
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- 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
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- 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
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- 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
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Planning Commission, 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
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- 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
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
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