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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, 25 August 10
GOVT SHOULD ALLOW DUTY-FREE IMPORT OF THERMAL COAL: ASSOCHAM
Industry body Assocham Wednesday said the government should allow duty free import of thermal coal to bring down power tariffs in the country.
&q ...
Wednesday, 25 August 10
INDIAS ADANI GROUP TO BUILD COAL RAILWAY IN INDONESIA
COALspot.com: India’s Adani Group, Indonesia’s state coal producer PT Tambang Batubara Bukit Asam (PTBA), and the South Sumatra provinci ...
Wednesday, 25 August 10
CME GROUP WILL LAUNCH NEW COAL CONTRACTS
Press Release: CME Group, the world’s leading and most diverse derivatives marketplace, today announced the launch of trading and clearing ser ...
Tuesday, 24 August 10
INDIA IMPORTS 1.3 MILLION TONS COAL LAST WEEK
COALspot.com: India has imported 1.3 million tons of non - Coking coal and 468,229 Mt of coking coal for the period 16 - 22 August 2010 ...
Monday, 23 August 10
COAL FOR FAST-TRACK PROGRAM ASSURED
Antara and the Jakarta globe reported that, the coal supply for the government’s 10,000 megawatt “fast- track” program was assured ...
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- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Marubeni Corporation - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
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