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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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Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
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- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- The University of Queensland
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- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
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- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
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- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
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- Indonesian Coal Mining Association
- ASAPP Information Group - India
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- Ministry of Transport, Egypt
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- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
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