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, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...


Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...


Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...


Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...


Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...


   1151 1152 1153 1154 1155   
Showing 5761 to 5765 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 ...

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