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, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations  Following the success of th ...


Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...


Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...


Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...


Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...


   875 876 877 878 879   
Showing 4381 to 4385 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 ...

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