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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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Monday, 25 January 10
MINING GROUPS MAY SEEK JUDICIAL REVIEW OF 2009 LAW
Indonesia’s mining associations said on Wednesday that they planned to seek a judicial review of the 2009 Mining Law this year if they are una ...
Monday, 25 January 10
INDONESIAN GOVERNMENT TO ISSUE REGULATION FOR IMPLEMENTATION OF MINERAL AND COAL MINING BUSINESS ACTIVITIES LAW NO.4 / 2009 SOON
COALspot.com (Indonesia): The government regulation concerning implementation of mineral and coal mining business activities Law no.4 / 2009 is expe ...
Monday, 25 January 10
DUQM IWPP'S COAL REQUIREMENTS PROJECTED AT 3MT PER YEAR
Oman's first coal-fired Independent Water and Power Project (IWPP) planned at Duqm is envisaged to have a feedstock requirement of around 3 million ...
Monday, 25 January 10
THE FUTURES FOR CAPE, PANAMAX AND SUPRAMAX FOR THREE YEARS (2010 - 2012) WAS AT AROUND US$ 32,000, US$ 20,000 AND US$ 17,000 PER DAY RESPECTIVELY
COALspot.com ( Singapore): The freight market remained flat this week the market slight soft.
BDI INDEX
The BDI was down by 95 points and closed ...
Saturday, 23 January 10
COAL CAMARADERIE
Union coal minister Shriprakash Jaiswal feels Asian countries should join hands in developing minerals, particularly coal.
At the third Asian Min ...
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- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
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