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
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



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

Recent News

Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...


Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy. ...


Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...


Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...


Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...


   21 22 23 24 25   
Showing 111 to 115 news of total 6871
News by Category
Popular News
 
Total Members : 28,618
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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