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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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Thursday, 02 September 10
PLN ASKED TO USE LOCAL COAL
Tempo Interactive reportd that, the Indonesian Mining Association Executive Director, Priyo Pribadi, has called on the state-run electricity company ...
Thursday, 02 September 10
NALCO OPEN TO EQUITY DILUTION IN $3.9 BN PROJECT IN INDONESIA
Business-Standard reported that, state-owned Nalco today said it is considering selling stake in its $3.9 billion (over Rs 18,000 crore) aluminium p ...
Thursday, 02 September 10
DRY BULK MARKET GAINS MOMENTUM TO INCREASE, WITH CHINA ONCE AGAIN TO THE RESCUE
With predictions from Chinese officials stating that the country’s iron ore imports during 2010 could surpass the record amounts of 2009, the ...
Wednesday, 01 September 10
STC BAGS NTPC ORDER TO SHIP 12 MT COAL
My Digital FC reported that, The State Trading Corporation (STC) has bagged NTPC’s tender to ship 12 million tonnes coal from Ind&sh ...
Wednesday, 01 September 10
JAKARTA TO HOST MAJOR INTERNATIONAL MINING EVENT
COALspot.com: (Press Release) In October 2010, the Indonesian Mining Association (IMA) and the Indonesian Coal Mining Association (APBI) will host t ...
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- Holcim Trading Pte Ltd - Singapore
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- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Petron Corporation, Philippines
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- Romanian Commodities Exchange
- Dalmia Cement Bharat India
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- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
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- CNBM International Corporation - China
- Anglo American - United Kingdom
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- Minerals Council of Australia
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- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
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- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
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- Goldman Sachs - Singapore
- White Energy Company Limited
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- Australian Coal Association
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- Coalindo Energy - Indonesia
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- Latin American Coal - Colombia
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- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
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- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
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- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
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- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
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- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
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- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
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- Siam City Cement - Thailand
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- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
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- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
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- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
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- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
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