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

Friday, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...


Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...


Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...


Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain * Older coal loading facility seem unaffected so far * UBS may cut valuation if disruption ...


Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...


   1270 1271 1272 1273 1274   
Showing 6356 to 6360 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 ...

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