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
Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC

COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to China Investment Corporation (CIC) as part of the debt settlement agreement announced on October 9, 2013.

According to BUMI's press release, a sum of US$ 1.989 billion is due to CIC as loan principal, deferred interest and make-whole costs. With this transfer of KPC stakes, the amount payable to CIC stands reduced to US$ 1.039 billion.

BUMI's press note further said that, 42% of BUMI's holding in PT. Bumi Resources Minerals Tbk., ( valued at US$ 257 million) and US$ 150 Million BUMI equity are expenses to be transferred to CIC by September 2014, following the closure of the BUMI rights offering approved on June 30, 2014.

Consequentially, the residual loan to CIC would reduce further to US$ 632 million, at an interest rate of LIBOR+6.7% per annum. No interest or principal is payable in the first 12 months, principal is payable semi annually over the next 2 years, whilst interest is paid monthly from the 13th month onwards.

Mr. Ari Hudaya, President Director, said, "This is a first major step in restoring financial health and a proof of company commitment to reduce debt. We welcome CIC as our equity partner and look forward to grow our assets from strength to strength. Fundamentally, the company is strong, has build annual coal capacity exceeding 90 million tons and significantly raised all round efficiencies in operations and costs"

He added, "We are confident our revised capital structure coupled with the recovery of coal prices would enable us regain health and return to company back to profit."



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...


Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...


Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...


Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...


Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent  month on month and closed at US$ 71.05 per mt a ...


   729 730 731 732 733   
Showing 3651 to 3655 news of total 6871
News by Category
Popular News
 
Total Members : 28,704
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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