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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- PTC India Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
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