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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy Baltic indexes are positive since a few days which could mean that markets have bottomed out (as we correctly predicted in our report of las ...


Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...


Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...


Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA  hav ...


Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010.  According to port agents, aroun ...


   1137 1138 1139 1140 1141   
Showing 5691 to 5695 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 ...

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