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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Economic Council, Georgia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
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