Bumi Resources

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PT Bumi Resources Tbk.

logo
legal form Tbk.
ISIN ID1000068703
founding June 26, 1973
Seat Jakarta , IndonesiaIndonesiaIndonesia 
management Ari Saptari Hudaya
sales $ 3.219 billion (2009)
Branch Mining
Website www.bumiresources.com

PT Bumi Resources Tbk. ( BUMI for short ) is an Indonesian holding company listed on the Indonesia Stock Exchange , which is primarily active in the mining sector through several subsidiaries . The vast majority of sales are generated from mining and selling coal . Until 1998, BUMI was primarily active in the areas of hotels and tourism. The head office is in Jakarta .

The company is one of the world's largest coal producers and in 2005 had a share of around eight percent in global trade.

Bakrie & Brothers , controlled by Aburizal Bakrie , is the largest shareholder with more than 10 percent ; a further 82 percent are in free float (as of December 31, 2009).

history

The company was founded in 1973 under the name Bumi Modern . The company went public in Jakarka and Surabaya in 1990.

In 1997, the life insurer AJB Bumiputera sold the majority of the shares in Bakrie Capital Indonesia with 58.51 percent . On August 13, 1998, the shareholders decided at the general meeting to enter the fossil fuel business , away from the hotel and tourism industry. A first step was the takeover of Gallo Oil (Jersey) Ltd., founded in Jersey on December 17, 1997 in 2000 . That in Yemen after natural gas deposits studied oil and . By resolution of the Indonesian Minister of Justice, the company was renamed PT BUMI Resources Tbk. In September .

In November 2001, BUMI acquired 80 percent of PT Arutmin Indonesia (Arutmin), founded in 1981, for US $ 148.5 million from BHP Minerals Exploration Inc. , which is owned by BHP Billiton . The company was then owned by the world's fourth largest coal producer with the four open- cast mines Senakin, Satui, Asam-asam and Batulicin in Kalimantan Selatan on Borneo . In April 2004, another 19.9 percent of Arutmin was bought by PT Ekakarsa Yasakarya Indonesia .

The complete takeover of PT Kaltim Prima Coal (KPC) from BP and Rio Tinto Group in October 2003, with two mines in Sangatta and Bengalon, made BUMI the largest producer of coal in the country. By December 2005 the shares in KPC were increased to 95 percent. Also in 2005, BUMI bought 80 percent of the shares in PT Gorontalo Minerals from BHP Minerals and 100 percent of PT Citra Palu Minerals from Newcrest Mining .

In the summer of 2006, the planned sale of the coal business for 3.2 billion US dollars to the Indonesian investment bank PT Renaissance Capital failed . A merger with PT Energi Mega Persada , which is also part of Bakrie's corporate network and operates in the oil and gas sector, was canceled in the fall. In June 2007, the Indian company Tata Power bought 30 percent of the shares in Arutmin and KPC for 1.1 billion US dollars, thereby securing access to coal in Indonesia.

For 552 million Australian dollars , BUMI bought the Australian Herald Resources Ltd in summer 2008 , which mines zinc , lead and gold in North Sumatra .

Business areas (as of 2009)

coal
Other

Competitor

See also

Web links

Individual evidence

  1. ↑ a b INFORMATION TO SHAREHOLDERS. (PDF) June 12, 2008, accessed September 5, 2010 .
  2. ↑ a b c Annual Report 2009 (PDF) June 12, 2008, accessed September 5, 2010 .
  3. ^ Decree of the Minister of Justice and Legislation of the Republic of Indonesia No. C-21041 HT.01.04-TH.2000 dated September 20, 2000
  4. ↑ Leony Aurora and Karima Anjani: Bumi Resources Scraps $ 3.2 Billion Coal Mine Sale (Update5). Bloomberg , August 25, 2006, accessed September 5, 2010 .