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

Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...


Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer  reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...


Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...


Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...


Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight  With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...


   1143 1144 1145 1146 1147   
Showing 5721 to 5725 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 ...

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