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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...


Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...


Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...


Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...


Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...


   980 981 982 983 984   
Showing 4906 to 4910 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 ...

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