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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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Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- The University of Queensland
- Baramulti Group, Indonesia
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