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

Saturday, 19 December 09
THE FUTURES FOR 2010 - 2012 FIRMED UP COMPARED TO LAST WEEK AND WAS AT AROUND CAPE US$ 28,000 PER DAY - VISTAAR
COALspot.com (Singapore): The freight market continued to soften this week with major drop in the cape size index by almost 21 pct and Panamax , Sup ...


Friday, 18 December 09
CARGOTEC WINS IBJ'S BEST SHIP LOADING / UNLOADING SYSTEM AWARD WITH SIWERTELL
Cargotec’s Siwertell ship unloader has recently won International Bulk Journal’s best ship loading/unloading system award for 2009; out ...


Friday, 18 December 09
THERMAL COAL PROJECT MOVES AHEAD
A proposal for Australia's largest thermal coal project in Queensland's central west has taken a step forward. Hancock Prospecting is proposing ...


Friday, 18 December 09
CHURCHILL MINING COMPLETES FEASIBILITY STUDY FOR EAST KUTAI COAL PROJECT
Churchill Mining Plc has announced the completion of the feasibility study for its flagship project, the 75% held East Kutai coal project in Indones ...


Friday, 18 December 09
COKING COAL SHORTAGE IN CHINA TO SPUR DEMAND FIGHT WITH JAPAN
China, the world’s largest steelmaker, faces a shortage of coking coal that may drive imports next year and spur a fight for resources with Ja ...


   1230 1231 1232 1233 1234   
Showing 6156 to 6160 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 ...

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