COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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 



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

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 ...


   1128 1129 1130 1131 1132   
Showing 5646 to 5650 news of total 6871
News by Category
Popular News
 
Total Members : 28,697
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Indian Energy Exchange, India
  • Cebu Energy, Philippines
  • Platts
  • Kumho Petrochemical, South Korea
  • U S Energy Resources
  • Metalloyd Limited - United Kingdom
  • Sucofindo - Indonesia
  • Larsen & Toubro Limited - India
  • Rudhra Energy - India
  • Vedanta Resources Plc - India
  • Economic Council, Georgia
  • Maheswari Brothers Coal Limited - India
  • Russian Coal LLC
  • Savvy Resources Ltd - HongKong
  • Coal India Limited
  • Planning Commission, India
  • Indonesian Coal Mining Association
  • Billiton Holdings Pty Ltd - Australia
  • McKinsey & Co - India
  • Commonwealth Bank - Australia
  • Essar Steel Hazira Ltd - India
  • Indogreen Group - Indonesia
  • IEA Clean Coal Centre - UK
  • Mjunction Services Limited - India
  • Goldman Sachs - Singapore
  • Indian School of Mines
  • Pipit Mutiara Jaya. PT, Indonesia
  • Lanco Infratech Ltd - India
  • GHCL Limited - India
  • The India Cements Ltd
  • European Bulk Services B.V. - Netherlands
  • Argus Media - Singapore
  • IBC Asia (S) Pte Ltd
  • Mercuria Energy - Indonesia
  • WorleyParsons
  • Sree Jayajothi Cements Limited - India
  • Cosco
  • Moodys - Singapore
  • Pendopo Energi Batubara - Indonesia
  • Maruti Cements - India
  • Uttam Galva Steels Limited - India
  • Bank of America
  • Coal Orbis AG
  • Adani Power Ltd - India
  • Leighton Contractors Pty Ltd - Australia
  • bp singapore
  • GNFC Limited - India
  • Eastern Energy - Thailand
  • HSBC - Hong Kong
  • Minerals Council of Australia
  • Thriveni
  • Panama Canal Authority
  • Price Waterhouse Coopers - Russia
  • World Bank
  • Core Mineral Indonesia
  • Central Electricity Authority - India
  • Indonesia Power. PT
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Eastern Coal Council - USA
  • Coastal Gujarat Power Limited - India
  • Kartika Selabumi Mining - Indonesia
  • SGS (Thailand) Limited
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Timah Investasi Mineral - Indoneisa
  • The Treasury - Australian Government
  • Thomson Reuters GRC
  • Petrochimia International Co. Ltd.- Taiwan
  • CIMB Investment Bank - Malaysia
  • IMC Shipping - Singapore
  • Reliance Power - India
  • Enel Italy
  • SMC Global Power, Philippines
  • Formosa Plastics Group - Taiwan
  • Shenhua Group - China
  • Thailand Anthracite
  • Meenaskhi Energy Private Limited - India
  • London Commodity Brokers - England
  • Noble Europe Ltd - UK
  • GMR Energy Limited - India
  • GVK Power & Infra Limited - India
  • Binh Thuan Hamico - Vietnam
  • Freeport Indonesia
  • Directorate General of MIneral and Coal - Indonesia
  • Edison Trading Spa - Italy
  • Kobe Steel Ltd - Japan
  • Africa Commodities Group - South Africa
  • Cement Manufacturers Association - India
  • Deutsche Bank - India
  • Interocean Group of Companies - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Electricity Authority, New Zealand
  • Bank of China, Malaysia
  • Glencore India Pvt. Ltd
  • Jaiprakash Power Ventures ltd
  • Cardiff University - UK
  • Peabody Energy - USA
  • Latin American Coal - Colombia
  • Inco-Indonesia
  • The State Trading Corporation of India Ltd
  • Malco - India
  • Miang Besar Coal Terminal - Indonesia
  • JPower - Japan
  • Fearnleys - India
  • Bukit Baiduri Energy - Indonesia
  • Runge Indonesia
  • Georgia Ports Authority, United States
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Therma Luzon, Inc, Philippines
  • Neyveli Lignite Corporation Ltd, - India
  • Surastha Cement
  • Coalindo Energy - Indonesia
  • NTPC Limited - India
  • UOB Asia (HK) Ltd
  • Merrill Lynch Commodities Europe
  • Sojitz Corporation - Japan
  • Coal and Oil Company - UAE
  • Mitsubishi Corporation
  • Bharathi Cement Corporation - India
  • Borneo Indobara - Indonesia
  • CoalTek, United States
  • Qatrana Cement - Jordan
  • Toyota Tsusho Corporation, Japan
  • PLN Batubara - Indonesia
  • Jatenergy - Australia
  • J M Baxi & Co - India
  • Semirara Mining and Power Corporation, Philippines
  • Energy Link Ltd, New Zealand
  • Semirara Mining Corp, Philippines
  • SMG Consultants - Indonesia
  • Xstrata Coal
  • Australian Coal Association
  • Sical Logistics Limited - India
  • Ambuja Cements Ltd - India
  • ANZ Bank - Australia
  • World Coal - UK
  • BRS Brokers - Singapore
  • Ministry of Mines - Canada
  • PowerSource Philippines DevCo
  • Holcim Trading Pte Ltd - Singapore
  • The University of Queensland
  • IOL Indonesia
  • Marubeni Corporation - India
  • Deloitte Consulting - India
  • Adaro Indonesia
  • Asia Cement - Taiwan
  • ICICI Bank Limited - India
  • Gresik Semen - Indonesia
  • Siam City Cement PLC, Thailand
  • globalCOAL - UK
  • ACC Limited - India
  • Thermax Limited - India
  • South Luzon Thermal Energy Corporation
  • Kobexindo Tractors - Indoneisa
  • UBS Singapore
  • Sindya Power Generating Company Private Ltd
  • TANGEDCO India
  • International Coal Ventures Pvt Ltd - India
  • Antam Resourcindo - Indonesia
  • RBS Sempra - UK
  • Samsung - South Korea
  • Anglo American - United Kingdom
  • BNP Paribas - Singapore
  • Kohat Cement Company Ltd. - Pakistan
  • Siam City Cement - Thailand
  • Clarksons - UK
  • Krishnapatnam Port Company Ltd. - India
  • Global Coal Blending Company Limited - Australia
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Tanito Harum - Indonesia
  • 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
  • Merrill Lynch Bank
  • Lafarge - France
  • Simpson Spence & Young - Indonesia
  • KPCL - India
  • Gujarat Mineral Development Corp Ltd - India
  • Oldendorff Carriers - Singapore
  • SASOL - South Africa
  • Platou - Singapore
  • Parry Sugars Refinery, India
  • Carbofer General Trading SA - India
  • ETA - Dubai
  • Romanian Commodities Exchange
  • Xindia Steels Limited - India
  • Renaissance Capital - South Africa
  • Inspectorate - India
  • 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
  • Vale Mozambique
  • Maharashtra Electricity Regulatory Commission - India
  • Standard Chartered Bank - UAE
  • Global Green Power PLC Corporation, Philippines
  • GN Power Mariveles Coal Plant, Philippines
  • KPMG - USA
  • PLN - Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Infraline Energy - India
  • Japan Coal Energy Center
  • Tata Power - India
  • Manunggal Multi Energi - Indonesia
  • VISA Power Limited - India
  • Idemitsu - Japan
  • Gujarat Electricity Regulatory Commission - India
  • Bhushan Steel Limited - India
  • India Bulls Power Limited - India
  • TeaM Sual Corporation - Philippines
  • Gujarat Sidhee Cement - India
  • Gupta Coal India Ltd
  • Thiess Contractors Indonesia
  • Shree Cement - India
  • Indo Tambangraya Megah - Indonesia
  • Malabar Cements Ltd - India
  • Arutmin Indonesia
  • 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
  • PetroVietnam
  • Berau Coal - Indonesia
  • Sinarmas Energy and Mining - Indonesia
  • Ind-Barath Power Infra Limited - India
  • Total Coal South Africa
  • Maybank - Singapore
  • Mintek Dendrill Indonesia
  • Global Business Power Corporation, Philippines
  • Petron Corporation, Philippines
  • JPMorgan - India
  • PetroVietnam Power Coal Import and Supply Company
  • APGENCO India
  • Coaltrans Conferences
  • Dalmia Cement Bharat India
  • Globalindo Alam Lestari - Indonesia
  • TNPL - India
  • Arch Coal - USA
  • Attock Cement Pakistan Limited
  • Petrosea - Indonesia
  • Bhatia International Limited - India
  • Central Java Power - Indonesia
  • Power Finance Corporation Ltd., India
  • Humpuss - Indonesia
  • Meralco Power Generation, Philippines
  • Singapore Mercantile Exchange
  • Indika Energy - Indonesia
  • Energy Development Corp, Philippines
  • Straits Asia Resources Limited - Singapore
  • Videocon Industries ltd - India
  • Coeclerici Indonesia
  • Mechel - Russia
  • Australian Commodity Traders Exchange
  • ASAPP Information Group - India
  • Electricity Generating Authority of Thailand
  • Bangladesh Power Developement Board
  • Ince & co LLP
  • TGV SRAAC LIMITED, India
  • Mercator Lines Limited - India
  • Barasentosa Lestari - Indonesia
  • Maersk Broker
  • 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
  • Ernst & Young Pvt. Ltd.
  • Chettinad Cement Corporation Ltd - India
  • SRK Consulting
  • Directorate Of Revenue Intelligence - India
  • Port Waratah Coal Services - Australia
  • Vitol - Bahrain
  • Asian Development Bank
  • Trasteel International SA, Italy
  • Kideco Jaya Agung - Indonesia
  • Wilmar Investment Holdings
  • Vijayanagar Sugar Pvt Ltd - India
  • OPG Power Generation Pvt Ltd - India
  • Permata Bank - Indonesia
  • CCIC - Indonesia
  • Mitsui
  • Credit Suisse - India
  • Pinang Coal Indonesia
  • Agrawal Coal Company - India
  • Baramulti Group, Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • Karaikal Port Pvt Ltd - India
  • Vizag Seaport Private Limited - India
  • Bangkok Bank PCL
  • ING Bank NV - Singapore
  • LBH Netherlands Bv - Netherlands
  • EIA - United States
  • McConnell Dowell - Australia
  • Indorama - Singapore
  • Barclays Capital - USA
  • Sarangani Energy Corporation, Philippines
  • EMO - The Netherlands
  • Alfred C Toepfer International GmbH - Germany
  • Sakthi Sugars Limited - India
  • Cemex - Philippines
  • Heidelberg Cement - Germany
  • Cargill India Pvt Ltd
  • San Jose City I Power Corp, Philippines
  • Medco Energi Mining Internasional
  • Bulk Trading Sa - Switzerland
  • Bukit Asam (Persero) Tbk - Indonesia
  • Kalimantan Lumbung Energi - Indonesia
  • DBS Bank - Singapore
  • MEC Coal - Indonesia
  • Jorong Barutama Greston.PT - Indonesia
  • Star Paper Mills Limited - India
  • OCBC - Singapore
  • IHS Mccloskey Coal Group - USA
  • Riau Bara Harum - Indonesia
  • SUEK AG - Indonesia
  • PNOC Exploration Corporation - Philippines
  • Cigading International Bulk Terminal - Indonesia
  • Asmin Koalindo Tuhup - Indonesia
  • TRAFIGURA, South Korea
  • Mitra SK Pvt Ltd - India
  • Banpu Public Company Limited - Thailand
  • Jindal Steel & Power Ltd - India
  • Altura Mining Limited, Indonesia
  • Orica Mining Services - Indonesia
  • Geoservices-GeoAssay Lab
  • Rio Tinto Coal - Australia
  • Makarim & Taira - Indonesia
  • Britmindo - Indonesia
  • Grasim Industreis Ltd - India
  • KEPCO - South Korea
  • Kepco SPC Power Corporation, Philippines
  • Aboitiz Power Corporation - Philippines
  • Madhucon Powers Ltd - India
  • Indian Oil Corporation Limited
  • KOWEPO - South Korea
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Tamil Nadu electricity Board
  • MS Steel International - UAE
  • Bayan Resources Tbk. - Indonesia
  • GB Group - China
  • CESC Limited - India
  • NALCO India