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

Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...


Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...


Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...


Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...


Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...


   696 697 698 699 700   
Showing 3486 to 3490 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
  • Qatrana Cement - Jordan
  • GHCL Limited - India
  • Wood Mackenzie - Singapore
  • Sindya Power Generating Company Private Ltd
  • Clarksons - UK
  • Thai Mozambique Logistica
  • Cardiff University - UK
  • Shenhua Group - China
  • IMC Shipping - Singapore
  • Mjunction Services Limited - India
  • MS Steel International - UAE
  • Australian Commodity Traders Exchange
  • Tata Chemicals Ltd - India
  • Manunggal Multi Energi - Indonesia
  • Bukit Asam (Persero) Tbk - Indonesia
  • Fearnleys - India
  • Coal and Oil Company - UAE
  • TNB Fuel Sdn Bhd - Malaysia
  • Kapuas Tunggal Persada - Indonesia
  • Bukit Baiduri Energy - Indonesia
  • Jaiprakash Power Ventures ltd
  • Gupta Coal India Ltd
  • Lanco Infratech Ltd - India
  • Indian School of Mines
  • Parliament of New Zealand
  • Thermax Limited - India
  • GB Group - China
  • New Zealand Coal & Carbon
  • Makarim & Taira - Indonesia
  • EMO - The Netherlands
  • Bank of China, Malaysia
  • Tamil Nadu electricity Board
  • Energy Development Corp, Philippines
  • Platts
  • Xindia Steels Limited - India
  • Essar Steel Hazira Ltd - India
  • Thiess Contractors Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • PowerSource Philippines DevCo
  • TeaM Sual Corporation - Philippines
  • Salva Resources Pvt Ltd - India
  • Samtan Co., Ltd - South Korea
  • Central Java Power - Indonesia
  • Cemex - Philippines
  • Bayan Resources Tbk. - Indonesia
  • Price Waterhouse Coopers - Russia
  • Krishnapatnam Port Company Ltd. - India
  • TGV SRAAC LIMITED, India
  • Goldman Sachs - Singapore
  • KOWEPO - South Korea
  • OCBC - Singapore
  • Indian Oil Corporation Limited
  • Kobexindo Tractors - Indoneisa
  • Bangladesh Power Developement Board
  • Thailand Anthracite
  • Bhatia International Limited - India
  • IHS Mccloskey Coal Group - USA
  • Indo Tambangraya Megah - Indonesia
  • Sical Logistics Limited - India
  • LBH Netherlands Bv - Netherlands
  • Eastern Coal Council - USA
  • Vijayanagar Sugar Pvt Ltd - India
  • Britmindo - Indonesia
  • GAC Shipping (India) Pvt Ltd
  • Bulk Trading Sa - Switzerland
  • Asian Development Bank
  • Reliance Power - India
  • Iligan Light & Power Inc, Philippines
  • CNBM International Corporation - China
  • Deloitte Consulting - India
  • Inspectorate - India
  • Total Coal South Africa
  • Gujarat Mineral Development Corp Ltd - India
  • Global Business Power Corporation, Philippines
  • CESC Limited - India
  • Tanito Harum - Indonesia
  • Japan Coal Energy Center
  • Madhucon Powers Ltd - India
  • PLN Batubara - Indonesia
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Eastern Energy - Thailand
  • WorleyParsons
  • Coaltrans Conferences
  • Merrill Lynch Bank
  • Cigading International Bulk Terminal - Indonesia
  • Sucofindo - Indonesia
  • Aditya Birla Group - India
  • McConnell Dowell - Australia
  • Maruti Cements - India
  • Surastha Cement
  • Permata Bank - Indonesia
  • Adaro Indonesia
  • Samsung - South Korea
  • Barasentosa Lestari - Indonesia
  • ACC Limited - India
  • ASAPP Information Group - India
  • Leighton Contractors Pty Ltd - Australia
  • Attock Cement Pakistan Limited
  • Simpson Spence & Young - Indonesia
  • Trasteel International SA, Italy
  • ING Bank NV - Singapore
  • Freeport Indonesia
  • Idemitsu - Japan
  • Bank of America
  • Bahari Cakrawala Sebuku - Indonesia
  • Latin American Coal - Colombia
  • Maheswari Brothers Coal Limited - India
  • Borneo Indobara - Indonesia
  • Straits Asia Resources Limited - Singapore
  • Malco - India
  • Gujarat Electricity Regulatory Commission - India
  • IBC Asia (S) Pte Ltd
  • Peabody Energy - USA
  • The Treasury - Australian Government
  • Planning Commission, India
  • Indika Energy - Indonesia
  • Ince & co LLP
  • Noble Europe Ltd - UK
  • globalCOAL - UK
  • SGS (Thailand) Limited
  • Indonesian Coal Mining Association
  • Rio Tinto Coal - Australia
  • bp singapore
  • Orica Mining Services - Indonesia
  • Mitsui
  • Holcim Trading Pte Ltd - Singapore
  • San Jose City I Power Corp, Philippines
  • BNP Paribas - Singapore
  • Russian Coal LLC
  • AsiaOL BioFuels Corp., Philippines
  • BRS Brokers - Singapore
  • GNFC Limited - India
  • EIA - United States
  • SUEK AG - Indonesia
  • Moodys - Singapore
  • India Bulls Power Limited - India
  • KPMG - USA
  • Singapore Mercantile Exchange
  • Cebu Energy, Philippines
  • Ministry of Transport, Egypt
  • Australian Coal Association
  • NTPC Limited - India
  • Star Paper Mills Limited - India
  • Semirara Mining Corp, Philippines
  • The University of Queensland
  • Baramulti Group, Indonesia
  • Banpu Public Company Limited - Thailand
  • Parry Sugars Refinery, India
  • Orica Australia Pty. Ltd.
  • Petrosea - Indonesia
  • NALCO India
  • Dalmia Cement Bharat India
  • ICICI Bank Limited - India
  • Arch Coal - USA
  • Petrochimia International Co. Ltd.- Taiwan
  • Asia Cement - Taiwan
  • Chamber of Mines of South Africa
  • Vizag Seaport Private Limited - India
  • TANGEDCO India
  • Intertek Mineral Services - Indonesia
  • Timah Investasi Mineral - Indoneisa
  • Renaissance Capital - South Africa
  • Alfred C Toepfer International GmbH - Germany
  • Oldendorff Carriers - Singapore
  • Indian Energy Exchange, India
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Enel Italy
  • Lafarge - France
  • Commonwealth Bank - Australia
  • Africa Commodities Group - South Africa
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Xstrata Coal
  • Sarangani Energy Corporation, Philippines
  • SN Aboitiz Power Inc, Philippines
  • Shree Cement - India
  • Malabar Cements Ltd - India
  • DBS Bank - Singapore
  • Sinarmas Energy and Mining - Indonesia
  • Jorong Barutama Greston.PT - Indonesia
  • Cargill India Pvt Ltd
  • McKinsey & Co - India
  • PTC India Limited - India
  • Barclays Capital - USA
  • Inco-Indonesia
  • Grasim Industreis Ltd - India
  • APGENCO India
  • The India Cements Ltd
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Maharashtra Electricity Regulatory Commission - India
  • CCIC - Indonesia
  • Siam City Cement - Thailand
  • MEC Coal - Indonesia
  • Wilmar Investment Holdings
  • Gujarat Sidhee Cement - India
  • Bukit Makmur.PT - Indonesia
  • Sree Jayajothi Cements Limited - India
  • Jatenergy - Australia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • GN Power Mariveles Coal Plant, Philippines
  • Savvy Resources Ltd - HongKong
  • Deutsche Bank - India
  • Karaikal Port Pvt Ltd - India
  • Rudhra Energy - India
  • Rashtriya Ispat Nigam Limited - India
  • Binh Thuan Hamico - Vietnam
  • Thriveni
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • KEPCO - South Korea
  • Kaltim Prima Coal - Indonesia
  • ETA - Dubai
  • Core Mineral Indonesia
  • Bangkok Bank PCL
  • SMC Global Power, Philippines
  • CoalTek, United States
  • Siam City Cement PLC, Thailand
  • Infraline Energy - India
  • Kumho Petrochemical, South Korea
  • Mechel - Russia
  • JPower - Japan
  • Billiton Holdings Pty Ltd - Australia
  • Standard Chartered Bank - UAE
  • Coal India Limited
  • Maybank - Singapore
  • Kartika Selabumi Mining - Indonesia
  • Interocean Group of Companies - India
  • Coeclerici Indonesia
  • Electricity Authority, New Zealand
  • UBS Singapore
  • World Bank
  • IOL Indonesia
  • Pipit Mutiara Jaya. PT, Indonesia
  • Mitsubishi Corporation
  • PetroVietnam Power Coal Import and Supply Company
  • Aboitiz Power Corporation - Philippines
  • Antam Resourcindo - Indonesia
  • Ministry of Mines - Canada
  • Karbindo Abesyapradhi - Indoneisa
  • JPMorgan - India
  • Platou - Singapore
  • Bhoruka Overseas - Indonesia
  • World Coal - UK
  • The State Trading Corporation of India Ltd
  • Indorama - Singapore
  • Agrawal Coal Company - India
  • Vedanta Resources Plc - India
  • Miang Besar Coal Terminal - Indonesia
  • Geoservices-GeoAssay Lab
  • IEA Clean Coal Centre - UK
  • UOB Asia (HK) Ltd
  • GVK Power & Infra Limited - India
  • Minerals Council of Australia
  • Edison Trading Spa - Italy
  • Adani Power Ltd - India
  • Humpuss - Indonesia
  • Bharathi Cement Corporation - India
  • Port Waratah Coal Services - Australia
  • Jindal Steel & Power Ltd - India
  • Power Finance Corporation Ltd., India
  • SASOL - South Africa
  • Vitol - Bahrain
  • Altura Mining Limited, Indonesia
  • Semirara Mining and Power Corporation, Philippines
  • Cosco
  • Riau Bara Harum - Indonesia
  • Runge Indonesia
  • HSBC - Hong Kong
  • Indonesia Power. PT
  • Panama Canal Authority
  • Formosa Plastics Group - Taiwan
  • Energy Link Ltd, New Zealand
  • Pendopo Energi Batubara - Indonesia
  • Chettinad Cement Corporation Ltd - India
  • Sakthi Sugars Limited - India
  • Therma Luzon, Inc, Philippines
  • Globalindo Alam Lestari - Indonesia
  • TRAFIGURA, South Korea
  • Neyveli Lignite Corporation Ltd, - India
  • Petron Corporation, Philippines
  • Toyota Tsusho Corporation, Japan
  • Kepco SPC Power Corporation, Philippines
  • Romanian Commodities Exchange
  • Asmin Koalindo Tuhup - Indonesia
  • PLN - Indonesia
  • Electricity Generating Authority of Thailand
  • Carbofer General Trading SA - India
  • Maersk Broker
  • Berau Coal - Indonesia
  • Kobe Steel Ltd - Japan
  • Directorate General of MIneral and Coal - Indonesia
  • J M Baxi & Co - India
  • PNOC Exploration Corporation - Philippines
  • Uttam Galva Steels Limited - India
  • Kideco Jaya Agung - Indonesia
  • Glencore India Pvt. Ltd
  • ANZ Bank - Australia
  • Georgia Ports Authority, United States
  • Ernst & Young Pvt. Ltd.
  • Meenaskhi Energy Private Limited - India
  • Global Green Power PLC Corporation, Philippines
  • Heidelberg Cement - Germany
  • Gresik Semen - Indonesia
  • RBS Sempra - UK
  • Indogreen Group - Indonesia
  • Meralco Power Generation, Philippines
  • White Energy Company Limited
  • TNPL - India
  • Larsen & Toubro Limited - India
  • Bhushan Steel Limited - India
  • Coal Orbis AG
  • Pinang Coal Indonesia
  • Mitra SK Pvt Ltd - India
  • VISA Power Limited - India
  • Argus Media - Singapore
  • Marubeni Corporation - India
  • Sojitz Corporation - Japan
  • Coastal Gujarat Power Limited - India
  • Merrill Lynch Commodities Europe
  • International Coal Ventures Pvt Ltd - India
  • South Luzon Thermal Energy Corporation
  • Medco Energi Mining Internasional
  • SRK Consulting
  • Central Electricity Authority - India
  • Cement Manufacturers Association - India
  • Kohat Cement Company Ltd. - Pakistan
  • Metalloyd Limited - United Kingdom
  • Mercator Lines Limited - India
  • Vale Mozambique
  • Independent Power Producers Association of India
  • Mercuria Energy - Indonesia
  • Arutmin Indonesia
  • London Commodity Brokers - England
  • Ministry of Finance - Indonesia
  • U S Energy Resources
  • PetroVietnam
  • GMR Energy Limited - India
  • Anglo American - United Kingdom
  • SMG Consultants - Indonesia
  • Kalimantan Lumbung Energi - Indonesia
  • Tata Power - India
  • CIMB Investment Bank - Malaysia
  • Mintek Dendrill Indonesia
  • Economic Council, Georgia
  • Coalindo Energy - Indonesia
  • European Bulk Services B.V. - Netherlands
  • KPCL - India
  • Global Coal Blending Company Limited - Australia
  • Posco Energy - South Korea
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Thomson Reuters GRC
  • OPG Power Generation Pvt Ltd - India
  • Credit Suisse - India
  • Ambuja Cements Ltd - India
  • Directorate Of Revenue Intelligence - India
  • Ind-Barath Power Infra Limited - India