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

Thursday, 04 February 10
NO AMDAL, NO COAL MINING IN KALIMANTAN: MINISTRY
To prevent further environmental damage, the government has said it would revoke the licenses of mining firms operating in Kalimantan that do not ha ...


Thursday, 04 February 10
ANTICIPATING DOMESTIC COAL DEMAND
Indonesia has an abundant amount of coal reserves, which in 2008 is estimated at 7,12 billion tones.  Coal production in 2008 reached 231,18 mi ...


Wednesday, 03 February 10
CHINA'S MAIN COAL PRICES FALL AS WINTER DEMAND EASES
Weekly coal prices at China's Qinhuangdao port, a benchmark in the world's biggest producer and consumer of the fuel, fell for the first time in s ...


Wednesday, 03 February 10
NEWCASTLE COAL EXPORTS RISE 3%; SHIP QUEUE SHORTENS
Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, increased 3 percent last week while the ...


Wednesday, 03 February 10
INDONESIA BUKIT ASAM SEES DOUBLE DIGIT 2010 REV GROWTH
* 2009 net profit rose an estimated 50 pct * Sees opportunities for overseas acquisitions Indonesian state-owned coal miner Bukit Asam saw 2009 ...


   1205 1206 1207 1208 1209   
Showing 6031 to 6035 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 ...

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