Asia Resources Minerals
|This article is part of the CoalSwarm coverage of Indonesia and coal|
Asia Resource Minerals PLC, is a major international mining group. The company used to be known as Bumi plc. In December 2013 Bumi changed its name to Asia Resource Minerals; at the same time Samin Tan paid US$223 million to purchase the Bakrie family's 23.8% stake in the company.
In June 2015 financier Nathaniel Rothschild’s NR Holdings accepted 56 pence a share for Asia Resource Minerals from Asia Coal Energy Ventures (ACE), which is funded by billionaire Eka Tjipta Widjaja’s Sinarmas Group.
Bumi plc is a London-listed natural resources group owned by the widely diversified business group PT Bakrie and Brothers (BNBR). Its main activity includes exploring, mining, processing coal and other minerals. The company holds 85% stake in Berau Coal and 29.2% in Bumi Resources. 
Bumi plc (“Bumi” or the “Company”) "was formed on June 28 2011. Prior to this Vallar plc was formed in March 2010 to acquire a single major company, business or asset with significant operations in the global metals, mining and resources sector.
"Vallar raised gross proceeds of £707 million through an initial public offering and listed on the standard listing segment of the Official List and admitted to trading on the London Stock Exchange in July 2010.
"Vallar announced its intention to acquire 75% of the share capital of Berau Coal and 25% of the share capital of Bumi Resources Group for an aggregate consideration of c.$3.0 billion (made up of a combination of cash and new Bumi shares) on 16 November 2010. These acquisitions were completed on 8 April 2011 and 4 March 2011 respectively.
"On 7 April 2011 Vallar’s shareholders approved a scheme of arrangement to put in place a new parent company for the Bumi group, Bumi plc." 
Nathaniel Rothschild has criticized Bumi Resources's debt management in the past, but it has been reported that his partnership with Indra Bakrie back on track. The dispute started when Bumi Resources, managed by Indra Bakrie had a loan with entities related to Rosan Roeslani, a non-executive director of Bumi Plc and president of Berau Coal Energy. This resulted in the Bakrie & Brothers selling half its stake in Bumi Plc for $1 billion in cash to help pay back a loan to Credit Suisse Group.
Accessed April 2012: 
- Indra Bakrie, Chairman
- Nathaniel Rothschild, Co-Chairman
- Ari Hudaya, Chief Executive Officer & Executive Director
- Andrew Beckham, Chief Financial Officer & Executive Director
- Sir Julian Horn-Smith, Deputy Chairman & Senior Independent Director
- Badung Tariono, Non-Executive Director
- James Andrew Hartley Campbell , Non-Executive Director
- Rosan Roeslani, Non-Executive Director
- Lord Renwick, Independent Non-Executive Director
- Steven J. Shapiro, Independent Non-Executive Director
- Sir Graham Hearne, CBE, Independent Non-Executive Director
- Amir Sambodo, Independent Non-Executive Director
- Philip Yeo, Independent Non-Executive Director
- Sony B. Harsono, Independent Non-Executive Director
- Paul Vickers, Group General Counsel and Company Secretary
4 Grosvenor Place
London, SW1X 7HJ
Tel: +44 207 201 7500
Fax: +44 207 201 7501
Articles and Resources
- "Curtain comes down on Bumi after shareholders vote for split". The Telegraph. 17 December 2013. Retrieved 13 August 2014.
- "Rothschild to Exit Indonesian Coal Venture as Widjaja Raises Bid ," Bloomberg, June 8, 2015
- "Bumi plc", Bumi plc, accessed January 18, 2012.
- Bumi plc Background, organizational web page, accessed April 21, 2012.
- Jesse Riseborough, "Rothschild, Bakries Mend Ties After Bumi Debt Spat, The Jakarta Globe, accessed January 18, 2012.
- Bumi Board, organizational web page, accessed April 21, 2012.
Related SourceWatch Articles
|This article is a stub. You can help by expanding it.|