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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...


Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...


Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...


Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...


Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring   ...


   1292 1293 1294 1295 1296   
Showing 6466 to 6470 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 ...

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