Last 97.00
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As of 5:15 AM 06/27/14 All times are local (Market data is delayed by at least 15 minutes).

borneo lumbung energi & meta (BORN) Snapshot

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52 Week High
09/18/13 - $290.00
52 Week Low
06/24/14 - $85.00
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Average Volume 10 Days
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borneo lumbung energi & meta (BORN) Details

PT Borneo Lumbung Energi & Metal Tbk engages in the mining and production of hard coking coal in Indonesia. The company holds interests in a coal concession comprising approximately 40,610 hectares of land in Muara Tuhup, located in the Murung Raya Regency in Central Kalimantan province. It also provides coal mining services, such as equipment rental, mine management, and other related mining services. PT Borneo Lumbung Energi & Metal Tbk exports its hard coking coal to steel manufacturers in China, Japan, Taiwan, South Korea, India, Turkey, and Vietnam. The company was founded in 1992 and is headquartered in Jakarta, Indonesia. PT Borneo Lumbung Energi & Metal Tbk is a subsidiary of PT Republik Energi & Metal.

3,280 Employees
Last Reported Date: 12/27/13
Founded in 1992

borneo lumbung energi & meta (BORN) Top Compensated Officers

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borneo lumbung energi & meta (BORN) Key Developments

PT Borneo Lumbung Energi & Metal Tbk Presents at Bank of America Merrill Lynch ASEAN Stars Conference 2013, Mar-04-2013

PT Borneo Lumbung Energi & Metal Tbk Presents at Bank of America Merrill Lynch ASEAN Stars Conference 2013, Mar-04-2013 . Venue: The Ritz-Carlton Millenia, Singapore, Singapore.

Borneo Lumbung To Sell Stake In AKT

PT Borneo Lumbung Energi & Metal Tbk intends to sell 10% - 20% stake in PT Asmin Koalindo Tuhup (AKT) to pay off a $1 billion debt installment to Standard Chartered Bank. Alexander Ramlie, President Director of Borneo Lumbung, said the company intends to pay off its debts on time to lower interest cost. Alexander said, "We might also use the divestment proceeds to expand and invest. We expect the AKT’s stake hold sales to be completed by 2012-end." Alexander also added that five investors have expressed interests to buy AKT’s shares without disclosing their names.

POSCO In Talks To Acquire Koalindo

POSCO and other parties are in talks to acquire 20% stake in PT Asmin Koalindo Tuhup from PT Borneo Lumbung Energi & Metal Tbk. The deal is reportedly expected to be valued at around $500 million. The sale is reportedly Borneo’s strategy to reduce its $1 billion debt burden incurred in 2011 when it took a loan from Standard Chartered Bank. Borneo aims to complete the deal by the end of the year, a source with direct knowledge of the matter said. Reuters reported that POSCO confirmed that it was in early talks with Borneo but declined to give further details. Kenneth Allan, Director at Borneo confirmed that Borneo is open to sell up to 20% stake in Koalindo but declined to give any further details. "It's an ongoing process. We are talking to several potential parties, which are conducting due diligence, but no binding commitment yet," Allan said.


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