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
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI


The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 million stake in Bumi Resources, Indonesia’s largest coal producer.

Bakrie financial director Eddy Soeparno said Glencore had bought the stock since June. “We have an option to buy back the stake from Glencore within two years,” Soeparno said.

Based on Bumi’s average closing share price and the rupiah’s exchange rate, the deal may mean Glencore has about a 5 percent stake in Bumi.

Eddy said Glencore — a marketing agent for Bumi coal — saw Bumi shares appreciating.

Bumi director Dileep Srivastava confirmed on Wednesday that Glencore had been acquiring shares but would not say how many.

“Based on [Bumi’s] financial records released on June 30, no one company owns more than 5 percent of Bumi’s shares, except for Bakrie & Brothers, which owns 21 percent in several blocks,” he said.

Bakrie & Brothers is the holding company controlled by the family of Aburizal Bakrie, a business tycoon and politician.

Privately held Glencore has become a global marketing agent outside Japan for Kaltim Prima Coal, Bumi’s main coal mining unit.

Glencore supplies metals, minerals, oil products, coal and agricultural products to companies in more than 40 countries. Its sales turnover for the 2009 fiscal year was $106.4 billion, and its assets were $66.3 billion at the end of 2009.

Glencore spokesman Carlos Perezagua declined to comment.

A source at Bakrie & Brothers said the investment holding firm did not have enough cash to increase its stake in Bumi but also saw a potential upside for the miner’s shares.

Bumi stock has tumbled 29 percent this year, underperforming the Jakarta Composite Index’s 27 percent rise, because of concerns about corporate governance and high debt. Its forward PE ratio is 6.15, versus 10.36 for rival Adaro Energy.
Source: The Jakarta Globe 



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

Recent News

Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...


Monday, 11 October 10
COAL IMPORTS TO START IN 2015 - VIETNAM BUSINESS
Vietnam Business reported that,  Viet Nam is now likely to import coal only from 2015, not 2013 as earlier forecast since many thermal power pl ...


Monday, 11 October 10
OCTOBER INDONESIAN COAL PRICE REFERENCE UP BY 2.92 PERCENT
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...


Saturday, 09 October 10
MPPGCL SEEKS TO BUY 0.40 MLN MT OF COAL FOR ITS THERMAL POWER STATIONS
COALspot.com: India's Madhya Pradesh Generating Company Limited (MPPGCL), Jabalpur, Madhya Pradesh invites bidders through tender 07-03/Import/Coal ...


Saturday, 09 October 10
FREIGHT MARKET IS EXPECTED TO FIRM UP NEXT WEEK CAPT REDDY
COALspot.com: Inspite of Chinese holidays the BDI was up by 10 pct and closed at 2,696 points. The cape index shot up to 20 pct and closed at 4,076 ...


   1113 1114 1115 1116 1117   
Showing 5571 to 5575 news of total 6871
News by Category
Popular News
 
Total Members : 28,697
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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