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, 24 October 09
ADANI, MMTC IN RACE TO SUPPLY COAL TO GSECL
Business-Standard  reported that, as many as five companies are in fray to supply 15 lakh (1.5 million) metric tonnes of non-coking steam (ther ...


Saturday, 24 October 09
INDONESIA STATE POWER FIRM PLANS TO DELAY COAL SUPPLIES
Indonesia's state-controlled electricity company is negotiating with two coal producing firms to delay plans to supply coal to a power plant in Wes ...


Friday, 23 October 09
MONGOLIA LISTS 8 POTENTIAL BIDDERS FOR COAL PROJECT
Reuters reported that, Mongolia has shortlisted eight potential partners for its huge Tavan Tolgoi coking coal project, according to Temuulen Ganzor ...


Friday, 23 October 09
2010 WILL BE 'BRIDGE YEAR' FOR COAL - CONSOL CHIEF
Mining Weekly reported that, After a difficult 2009, 2010 will likely be a “bridge” year for the US coal industry, followed by improved ...


Friday, 23 October 09
INDIAN GROUP INTERESTED IN MOZAMBICAN COAL
Mining Weekly reported that, India’s leading steelmaker, the Steel Authority of India Limited (Sail), has confirmed that it is seeking to acqu ...


   1260 1261 1262 1263 1264   
Showing 6306 to 6310 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 ...

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