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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Thursday, 18 February 10
COAL MINERS FACE SHUTDOWN OVER RECLAMATION FUNDING
Three coal mining companies may be forced to temporarily stop operations this year if they fail to provide funding for a site-reclamation program.
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Thursday, 18 February 10
DECOUPLING FROM OIL PRICES ON STRONG GLOBAL ENERGY DEMAND
A recent coal market conference in Singapore focused on two main issues –— the demand for coal as a source of energy, and coal pricing.& ...
Thursday, 18 February 10
INDONESIA TO INVITE BIDS FOR $1.5 BLN COAL RAILWAY IN MAY
Indonesia plans to invite investors to bid for contracts to build a $1.5 billion coal railway line in Central Kalimantan, a planning ministry offici ...
Thursday, 18 February 10
INDONESIA ZONING RULE THREATENS MINING - INDUSTRY
Reuters reported that, confusion over a new Indonesian land use regulation could halt the operations of some mining firms, providing a new threat to ...
Wednesday, 17 February 10
LAND OVERLAPPING UNAVOIDABLE
Land overlapping issues in the mining industry is unavoidable due to the availability of mineral, coal, and oil resources which are often located be ...
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- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
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