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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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Tuesday, 13 October 09
INDIA INTERESTED IN AMERICAN COAL
UPI reported that, Coal India Ltd. in its global expansion efforts is now interested in coal properties in the United States.
The Business Standard ...
Tuesday, 13 October 09
RIVERSDALE MAY USE ZAMBEZI RIVER TO TRANSPORT MOZAMBIQUE COAL
Mining Weekly reported that, ASX-listed coal-miner Riversdale Mining would submit a feasibility study and an environmental-impact study (EIS) for it ...
Monday, 12 October 09
INDONESIAN COAL MINER SAYS PLANS IPO IN 2010
Reuters reported that, Indonesian coal miner PT Bhakti Energi Persada plans an initial public offering in the first quarter of 2010 to develop coal ...
Monday, 12 October 09
BISICHI MINING FINALIZES COAL SUPPLY CONTRACT FOR 2010-2012
Small Cap News reported that, Bisichi, the South Africa based coal mining group, has agreed a three year coal supply contract between its principal ...
Monday, 12 October 09
SHANDUKA BUYS SACMH RICHARDS BAY COAL ALLOCATION
* Shanduka Coal takes SACMH 500,000T export space
* RBCT must approve any change of ownership
Reuters reported that, South Africa's Shanduka Co ...
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- Attock Cement Pakistan Limited
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- The Treasury - Australian Government
- Electricity Authority, New Zealand
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- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
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- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
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- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
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- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- The University of Queensland
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- Mjunction Services Limited - India
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- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
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- Power Finance Corporation Ltd., India
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- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
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- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
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- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
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- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
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- Global Business Power Corporation, Philippines
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- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
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- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Gujarat Mineral Development Corp Ltd - India
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