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

Tuesday, 23 February 10
UAE COMPANY TO ACQUIRE CONTROL OF ALLBOND MAKMUR
The Jakarta globe reported that, Renuka Energy Resources Holding, based in the United Arab Emirates, has signed an agreement to acquire 80 percent o ...


Tuesday, 23 February 10
CIL SHORTLISTS 24 FOREIGN COS FOR JV
India's Economic Times reported that, Coal India has shortlisted 24 foreign firms — six each from the US, Australia, South Africa and Indones ...


Saturday, 20 February 10
THE FREIGHT MARKET CONTINUED TO BE SOFT THIS WEEK - CAPT. REDDY
COALspot.com: The freight market continued to be soft this week as still affect of Chinese new year holidays continue. However the index overall had ...


Friday, 19 February 10
MAKING THE JOINT COOPERATION OF PRIVATE GOVERNMENT IN INDONESIA
COALspot.com - Press Release 1. Revision of the presidential decree 67/2005 has been signed by the President on January 28, 2010 with the public ...


Thursday, 18 February 10
THE INDIAN MARKET IS FIRMING A BIT, DUE TO LACK OF TONNAGE IN THE REGION
HANDY The  BSI  still  decline  as  holidays  around  the  world  have  reduced  trading. ...


   1194 1195 1196 1197 1198   
Showing 5976 to 5980 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
  • IBC Asia (S) Pte Ltd
  • Thomson Reuters GRC
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Mintek Dendrill Indonesia
  • Maybank - Singapore
  • Karaikal Port Pvt Ltd - India
  • Vizag Seaport Private Limited - India
  • Makarim & Taira - Indonesia
  • Electricity Generating Authority of Thailand
  • Bhatia International Limited - India
  • Iligan Light & Power Inc, Philippines
  • Global Green Power PLC Corporation, Philippines
  • Lafarge - France
  • BRS Brokers - Singapore
  • Global Business Power Corporation, Philippines
  • Latin American Coal - Colombia
  • Jaiprakash Power Ventures ltd
  • Sinarmas Energy and Mining - Indonesia
  • Malabar Cements Ltd - India
  • Lanco Infratech Ltd - India
  • SMG Consultants - Indonesia
  • Qatrana Cement - Jordan
  • Africa Commodities Group - South Africa
  • IMC Shipping - Singapore
  • Timah Investasi Mineral - Indoneisa
  • Fearnleys - India
  • Georgia Ports Authority, United States
  • Rio Tinto Coal - Australia
  • GHCL Limited - India
  • Australian Coal Association
  • Directorate Of Revenue Intelligence - India
  • JPower - Japan
  • Trasteel International SA, Italy
  • Gujarat Mineral Development Corp Ltd - India
  • CESC Limited - India
  • Formosa Plastics Group - Taiwan
  • Therma Luzon, Inc, Philippines
  • Thai Mozambique Logistica
  • TANGEDCO India
  • Medco Energi Mining Internasional
  • Mitra SK Pvt Ltd - India
  • Orica Australia Pty. Ltd.
  • ICICI Bank Limited - India
  • Gujarat Sidhee Cement - India
  • Thiess Contractors Indonesia
  • PLN Batubara - Indonesia
  • Jatenergy - Australia
  • Xindia Steels Limited - India
  • Japan Coal Energy Center
  • ASAPP Information Group - India
  • Global Coal Blending Company Limited - Australia
  • Kumho Petrochemical, South Korea
  • Energy Development Corp, Philippines
  • Planning Commission, India
  • Kohat Cement Company Ltd. - Pakistan
  • KPMG - USA
  • Bharathi Cement Corporation - India
  • Central Java Power - Indonesia
  • Borneo Indobara - Indonesia
  • Bhushan Steel Limited - India
  • Cardiff University - UK
  • Karbindo Abesyapradhi - Indoneisa
  • Essar Steel Hazira Ltd - India
  • Salva Resources Pvt Ltd - India
  • Wilmar Investment Holdings
  • Rudhra Energy - India
  • Bukit Makmur.PT - Indonesia
  • Romanian Commodities Exchange
  • Singapore Mercantile Exchange
  • Sucofindo - Indonesia
  • Credit Suisse - India
  • The State Trading Corporation of India Ltd
  • The University of Queensland
  • globalCOAL - UK
  • Gujarat Electricity Regulatory Commission - India
  • Ernst & Young Pvt. Ltd.
  • Larsen & Toubro Limited - India
  • Malco - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Core Mineral Indonesia
  • Shree Cement - India
  • Kideco Jaya Agung - Indonesia
  • ACC Limited - India
  • Baramulti Group, Indonesia
  • NTPC Limited - India
  • Marubeni Corporation - India
  • Coaltrans Conferences
  • Argus Media - Singapore
  • Tanito Harum - Indonesia
  • Cebu Energy, Philippines
  • Cemex - Philippines
  • Semirara Mining and Power Corporation, Philippines
  • Goldman Sachs - Singapore
  • UOB Asia (HK) Ltd
  • World Bank
  • India Bulls Power Limited - India
  • Simpson Spence & Young - Indonesia
  • Xstrata Coal
  • ING Bank NV - Singapore
  • TGV SRAAC LIMITED, India
  • Economic Council, Georgia
  • Parry Sugars Refinery, India
  • Metalloyd Limited - United Kingdom
  • Port Waratah Coal Services - Australia
  • Adaro Indonesia
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Humpuss - Indonesia
  • Bukit Baiduri Energy - Indonesia
  • Cosco
  • Meenaskhi Energy Private Limited - India
  • European Bulk Services B.V. - Netherlands
  • Petrosea - Indonesia
  • J M Baxi & Co - India
  • Indian School of Mines
  • OCBC - Singapore
  • Ince & co LLP
  • GMR Energy Limited - India
  • PNOC Exploration Corporation - Philippines
  • Bangkok Bank PCL
  • Maharashtra Electricity Regulatory Commission - India
  • OPG Power Generation Pvt Ltd - India
  • ETA - Dubai
  • Tata Chemicals Ltd - India
  • San Jose City I Power Corp, Philippines
  • TRAFIGURA, South Korea
  • Anglo American - United Kingdom
  • Sarangani Energy Corporation, Philippines
  • Thermax Limited - India
  • Intertek Mineral Services - Indonesia
  • Merrill Lynch Commodities Europe
  • Mjunction Services Limited - India
  • KPCL - India
  • Gupta Coal India Ltd
  • Indogreen Group - Indonesia
  • Kalimantan Lumbung Energi - Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • Indonesian Coal Mining Association
  • Bank of China, Malaysia
  • Madhucon Powers Ltd - India
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Russian Coal LLC
  • Mercuria Energy - Indonesia
  • Tamil Nadu electricity Board
  • Bahari Cakrawala Sebuku - Indonesia
  • Holcim Trading Pte Ltd - Singapore
  • Deloitte Consulting - India
  • Vitol - Bahrain
  • Uttam Galva Steels Limited - India
  • Carbofer General Trading SA - India
  • MS Steel International - UAE
  • Enel Italy
  • The India Cements Ltd
  • Sical Logistics Limited - India
  • ANZ Bank - Australia
  • Standard Chartered Bank - UAE
  • SASOL - South Africa
  • International Coal Ventures Pvt Ltd - India
  • PLN - Indonesia
  • Freeport Indonesia
  • Thailand Anthracite
  • London Commodity Brokers - England
  • Arutmin Indonesia
  • Geoservices-GeoAssay Lab
  • Indonesia Power. PT
  • Bulk Trading Sa - Switzerland
  • White Energy Company Limited
  • IOL Indonesia
  • GB Group - China
  • Ministry of Transport, Egypt
  • Mitsui
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Coeclerici Indonesia
  • Toyota Tsusho Corporation, Japan
  • Sakthi Sugars Limited - India
  • Price Waterhouse Coopers - Russia
  • Mechel - Russia
  • HSBC - Hong Kong
  • GVK Power & Infra Limited - India
  • Cement Manufacturers Association - India
  • Bayan Resources Tbk. - Indonesia
  • UBS Singapore
  • Sindya Power Generating Company Private Ltd
  • SGS (Thailand) Limited
  • Cigading International Bulk Terminal - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • Sree Jayajothi Cements Limited - India
  • Glencore India Pvt. Ltd
  • CCIC - Indonesia
  • Sojitz Corporation - Japan
  • Vale Mozambique
  • Reliance Power - India
  • Moodys - Singapore
  • Tata Power - India
  • Mercator Lines Limited - India
  • McKinsey & Co - India
  • TNPL - India
  • U S Energy Resources
  • Mitsubishi Corporation
  • Ceylon Electricity Board - Sri Lanka
  • Kobe Steel Ltd - Japan
  • Jorong Barutama Greston.PT - Indonesia
  • SUEK AG - Indonesia
  • KOWEPO - South Korea
  • Coal India Limited
  • PowerSource Philippines DevCo
  • Posco Energy - South Korea
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Surastha Cement
  • Vijayanagar Sugar Pvt Ltd - India
  • EIA - United States
  • Antam Resourcindo - Indonesia
  • bp singapore
  • Globalindo Alam Lestari - Indonesia
  • Peabody Energy - USA
  • Deutsche Bank - India
  • Permata Bank - Indonesia
  • Interocean Group of Companies - India
  • PTC India Limited - India
  • Infraline Energy - India
  • Coalindo Energy - Indonesia
  • The Treasury - Australian Government
  • Banpu Public Company Limited - Thailand
  • Idemitsu - Japan
  • Kaltim Prima Coal - Indonesia
  • Siam City Cement - Thailand
  • SMC Global Power, Philippines
  • Star Paper Mills Limited - India
  • Edison Trading Spa - Italy
  • South Luzon Thermal Energy Corporation
  • Noble Europe Ltd - UK
  • Vedanta Resources Plc - India
  • Platts
  • Panama Canal Authority
  • Heidelberg Cement - Germany
  • Bhoruka Overseas - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Miang Besar Coal Terminal - Indonesia
  • Chamber of Mines of South Africa
  • Independent Power Producers Association of India
  • Ambuja Cements Ltd - India
  • JPMorgan - India
  • Ind-Barath Power Infra Limited - India
  • Thriveni
  • Inspectorate - India
  • Bukit Asam (Persero) Tbk - Indonesia
  • Kepco SPC Power Corporation, Philippines
  • NALCO India
  • Maheswari Brothers Coal Limited - India
  • Samsung - South Korea
  • Asian Development Bank
  • Cargill India Pvt Ltd
  • CIMB Investment Bank - Malaysia
  • RBS Sempra - UK
  • IHS Mccloskey Coal Group - USA
  • Krishnapatnam Port Company Ltd. - India
  • PetroVietnam
  • APGENCO India
  • CNBM International Corporation - China
  • Arch Coal - USA
  • Savvy Resources Ltd - HongKong
  • Bangladesh Power Developement Board
  • Riau Bara Harum - Indonesia
  • Electricity Authority, New Zealand
  • Commonwealth Bank - Australia
  • Merrill Lynch Bank
  • Kobexindo Tractors - Indoneisa
  • Coal and Oil Company - UAE
  • Semirara Mining Corp, Philippines
  • Eastern Coal Council - USA
  • Pendopo Energi Batubara - Indonesia
  • IEA Clean Coal Centre - UK
  • Runge Indonesia
  • Alfred C Toepfer International GmbH - Germany
  • EMO - The Netherlands
  • Jindal Steel & Power Ltd - India
  • VISA Power Limited - India
  • Power Finance Corporation Ltd., India
  • Grasim Industreis Ltd - India
  • Indo Tambangraya Megah - Indonesia
  • KEPCO - South Korea
  • Aboitiz Power Corporation - Philippines
  • Aditya Birla Group - India
  • Indian Energy Exchange, India
  • Indika Energy - Indonesia
  • Wood Mackenzie - Singapore
  • Directorate General of MIneral and Coal - Indonesia
  • Australian Commodity Traders Exchange
  • Energy Link Ltd, New Zealand
  • Siam City Cement PLC, Thailand
  • Maersk Broker
  • Straits Asia Resources Limited - Singapore
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • DBS Bank - Singapore
  • PetroVietnam Power Coal Import and Supply Company
  • World Coal - UK
  • Leighton Contractors Pty Ltd - Australia
  • Neyveli Lignite Corporation Ltd, - India
  • Orica Mining Services - Indonesia
  • GNFC Limited - India
  • Asmin Koalindo Tuhup - Indonesia
  • Ministry of Finance - Indonesia
  • Central Electricity Authority - India
  • CoalTek, United States
  • Oldendorff Carriers - Singapore
  • Kartika Selabumi Mining - Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Parliament of New Zealand
  • Altura Mining Limited, Indonesia
  • Renaissance Capital - South Africa
  • Attock Cement Pakistan Limited
  • Barasentosa Lestari - Indonesia
  • Britmindo - Indonesia
  • SRK Consulting
  • Minerals Council of Australia
  • Gresik Semen - Indonesia
  • Shenhua Group - China
  • Platou - Singapore
  • Total Coal South Africa
  • LBH Netherlands Bv - Netherlands
  • Dalmia Cement Bharat India
  • Adani Power Ltd - India
  • Coastal Gujarat Power Limited - India
  • Samtan Co., Ltd - South Korea
  • Asia Cement - Taiwan
  • Inco-Indonesia
  • Indian Oil Corporation Limited
  • Pinang Coal Indonesia
  • Manunggal Multi Energi - Indonesia
  • GN Power Mariveles Coal Plant, Philippines
  • Binh Thuan Hamico - Vietnam
  • Bank of America
  • Billiton Holdings Pty Ltd - Australia
  • Videocon Industries ltd - India
  • Berau Coal - Indonesia
  • BNP Paribas - Singapore
  • Maruti Cements - India
  • Meralco Power Generation, Philippines
  • TNB Fuel Sdn Bhd - Malaysia
  • Indorama - Singapore
  • Chettinad Cement Corporation Ltd - India
  • GAC Shipping (India) Pvt Ltd
  • Clarksons - UK
  • McConnell Dowell - Australia
  • Coal Orbis AG
  • TeaM Sual Corporation - Philippines
  • Ministry of Mines - Canada
  • Agrawal Coal Company - India
  • Eastern Energy - Thailand
  • Kapuas Tunggal Persada - Indonesia
  • New Zealand Coal & Carbon
  • Petron Corporation, Philippines
  • Barclays Capital - USA
  • WorleyParsons
  • Pipit Mutiara Jaya. PT, Indonesia