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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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Wednesday, 27 January 10
PEABODY ENERGY EYES 'RED HOT' ASIAN COAL DEMAND
US miner Peabody Energy has seen already-strong Asian markets become “red hot”, as demand for metallurgical and thermal coal strains sup ...
Wednesday, 27 January 10
KOLKOTTA BASED POWER UTILITY CESC LOOKING FOR 100,000 MT OF COAL FOR MAY & JUNE DELIVERY
COALspot.com (India): Kolkotta based power utility CESC, the flagship company of the diversified RPG group of India, has issued a closed tender to b ...
Tuesday, 26 January 10
FREIGHT COST ERODES INDIA CEMENTS NET
"Freight cost increased from an average of around 14% of sales in the previous quarters to around 20% in the third quarter"
The Decembe ...
Tuesday, 26 January 10
VITOL BUYS EXPORT SPACE AT COLOMBIA SANTA MARTA PORT
Global energy trader Vitol has signed a four-year deal to take export capacity at Colombia's 3 million tonnes a year Carbonsan port in Santa Marta, ...
Tuesday, 26 January 10
AUSTRALIAN FIRM TO MINE COAL IN WEST BENGAL
India Resources Ltd (IRL), a mining firm listed on the Australian Stock Exchange, has decided to enter into contract mining of coal in
India ...
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- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
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