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

Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...


Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
  Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...


Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...


Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...


Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...


   1126 1127 1128 1129 1130   
Showing 5636 to 5640 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 ...

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