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

Monday, 28 September 09
TATA POWER SCOUTS FOR COAL BLOCKS ABROAD
Business Standard reported that, private power producer Tata Power is scouting for coal mines abroad, including Australia and Mozambique, to meet de ...


Saturday, 26 September 09
THE INDIA / FAR EAST SEEMS WILL BE FIRM NEXT WEEK - VISTAAR
COALspot.com (Singapore): The dry bulk market was soft this week and the BDI dropped by almost 7 pct to 2,183 points. The cape size index dropped by ...


Saturday, 26 September 09
GSECL PLANS TO PROCURE 15 LAKH (1.5 MILLION) MT OF IMPORTED COAL
Business Standard reported that, State-run power generation company, Gujarat State Electricity Corporation Ltd (GSECL) intends to procure 15 lakh (1 ...


Saturday, 26 September 09
SAIL TO SET UP TWO SLAG-BASED CEMENT MANUFACTURING UNITS
Rediff Business reported that, Government-owned Steel Authority of India Ltd, the country's largest steel producer, is looking to set up two greenf ...


Friday, 25 September 09
INDONESIA STOCK EXCHANGE EXAMINES BUMI DEAL WITH CHINESE SOVEREIGN WEALTH FUND
The Jakarta globe reported that, The Indonesia Stock Exchange is looking into the $1.9 billion financing deal between PT Bumi Resources, the country ...


   1277 1278 1279 1280 1281   
Showing 6391 to 6395 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 ...

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