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, 21 January 10
HANDYMAX - SHORT PERIOD OWNERS IDEAS ARE AROUND MID/LOW 20S - FEARNLEYS AS
HANDY The  BSI  moved  in  a  downward  direction  since  last  Friday  reflecting  minor a ...


Thursday, 21 January 10
ASF GROUP TO COMMENCE COAL SALES TO CHINA BY FEBRUARY 2010
Sydney-based China energy and resource conduit, ASF Group has struck an agreement to supply coal to China. In September 2009, ASF announced a ven ...


Thursday, 21 January 10
INDONESIA BUKIT ASAM AGREES ON LOWER COAL PRICE
Indonesian state coal miner PT Tambang Batubara Bukit Asam Tbk has agreed with a local power plant to set 2010 coal prices at 23 percent lower than ...


Thursday, 21 January 10
CABOTAGE POLICY POSTPONED
The Transportation Ministry has decided to postpone for one year the full enforcement of the cabotage principle – a maritime term for the proh ...


Thursday, 21 January 10
MEC IN TALKS WITH TATA POWER ON COAL - TRADE
The UAE's Middle East Coal is in talks to supply coal to Tata Power, India's biggest private sector power firm, from its new Indonesian operations ...


   1212 1213 1214 1215 1216   
Showing 6066 to 6070 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 ...

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