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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
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Saturday, 02 October 10
FOUR INDONESIAN COAL FIRMS KEEN TO TIE UP WITH NALCO - SIFY
Sify reported that, Four Indonesian coal companies have shown interest to tie up with public sector National Aluminium Company (Nalco) for its 4 bil ...
Friday, 01 October 10
COAL TRADERS POWER FOREIGN ASSET BUYS - ECONOMIC TIMES
Economic Times reported that, the rush to own coal assets is leading to innovative alliances. are teaming up with utilities like , Reliance Power an ...
Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indo ...
Thursday, 30 September 10
INITIAL PHASE OF MOATIZE MINING BY EARLY NOVEMBER - ALL AFRICA
All Africa report that, the initial phase of mining coal at Moatize, in the western Mozambican province of Tete, will begin by early November, and t ...
Thursday, 30 September 10
THE PANAMAX CONTINUED ITS DOWNWARD TREND FROM LAST WEEK - FEARNBULK
HANDY
Activity remains slow this week combined with a lack of fresh enquiry and tonnage over-supply in the Atlantic. Indexes are all negative exce ...
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- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
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