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, 25 September 09
FREIGHT RATE CUTS MAKING SOUTH AFRICAN COAL MORE COMPETITIVE IN ASIAN MARKETS
Mining Weekly reported that, Coaltrans South Africa MD Gerard Strahan highlighted the country’s sudden increase in coal exports to southern Ch ...


Friday, 25 September 09
XSTRATA TO BUILD ITS OWN RAIL CAPACITY TO SHIP AUSTRALIAN COAL
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used by power stations, will establish its own rail haulage capacit ...


Thursday, 24 September 09
INDIA CEMENT CO'S TO AWARD 200,000T COAL TENDER
Reuters reported that, India's biggest cement maker ACC Cement Ltd and Gujarat Ambuja will award on Thursday Sept 25 a tender for 100,000 tonnes ea ...


Thursday, 24 September 09
YUDEAN TO SIGN CO-OPERATION LETTER OF INTENT WITH RUSSIA COAL TRADE COMPANY
In the recent days, Gao Shiqiang, deputy manager of Yudean Group Co., Ltd. went and carried out the friendly talks with SUEK and inked the trade co- ...


Thursday, 24 September 09
ANGLO EYES DOUBLED METALLURGICAL COAL OUTPUT BY 2018
Mining group Anglo American could double its production of coal used for steel making by 2018 if all of its unapproved projects went ahead, the comp ...


   1278 1279 1280 1281 1282   
Showing 6396 to 6400 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 ...

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