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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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Saturday, 02 January 10
INDONESIAS COAL OUTPUT RISES BY 5%
Indonesia, Asia’s largest coal exporter, produced 254 million tons of coal in 2009, a 5.8 percent increase from 2008 and well ahead of the gov ...
Saturday, 02 January 10
TAIPOWER FORECASTS COAL DEMAND TO SNAP DECLINE
Taiwan Power Co., Asia's biggest importer of thermal coal, expects its demand for the fuel to rise in 2010 after falling for two years as the islan ...
Friday, 01 January 10
COAL INDIA TO START IMPORTING DIRECTLY
According to sources, the coal major has already finalised tender document to import four million tonnes thermal grade coal for supplies to NTPC. Th ...
Thursday, 31 December 09
INDONESIA SEES 2010 MINING INVESTMENT UP 39 PCT
Reuters reported that, Indonesian mining investment is expected to hit $2.5 billion next year, up from $1.81 billion in 2009, supported by greater c ...
Thursday, 31 December 09
YANDICOOGINA BECOMES FIRST MINE IN AUSTRALIA TO PRODUCE 50 MILLION TONNES A YEAR
COALspot.com Press Release: Rio Tinto's Yandicoogina, Australia's largest-producing iron ore mine, has broken the 50 million tonne mark for annual ...
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- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
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