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

Monday, 24 May 10
PAMA TO CLOSE COALS ACQUISITION IN 2010
Insider Stories reported that, Indonesia's largest coal mining contractor PT Pamapersada Nusantara, subsidiary of PT United Tractors Tbk (UNTR), wi ...


Sunday, 23 May 10
SINGARENI LEVIES PREMIUM TO BALANCE COAL DEMAND - BUSINESS STANDARD
Business-Standard reported that, In view of the rising demand for coal, Singareni Collieries Company Limited has recently levied a premium on c ...


Saturday, 22 May 10
THE BRENT CRUDE PRICES WAS SHARPLY DOWN AT US$ 71.72 PER BARREL - VISTAAR SHIPPING
COALspot.com: The freight market was under pressure with the caps size index down by 10 pct with uncertainty in Europe crisis continuing. The BD ...


Saturday, 22 May 10
PORT CONGESTION IN AUSTRALIA HELPING RATES CHINA COAL IMPORT BOOM TO CUSHION FREIGHT RATES
China's record coal imports this year will provide some support to freight rates but growing pressure from fleet oversupply is set to limit gains. ...


Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...


   1163 1164 1165 1166 1167   
Showing 5821 to 5825 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 ...

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