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NEWS / BUMI RESOURCES MINERALS

CIC to invest in Bumi mining units

Global Times: Indonesia's PT Bumi Resources said on Wednesday China's sovereign wealth fund, China Investment Corp (CIC), has agreed to convert part of an outstanding $1.3 billion loan into stakes in the miner's PT Bumi Resources Minerals unit, its coal mines and a ...
MARKET REPORT: Big day for Asia Resource Minerals - the coal miner formerly

- 4 months ago @ thisismoney.co.uk: Friday's a big day for Asia Resource Minerals (ARMS), the slow motion car crash disguised as a FTSE-listed coal miner (and formerly named Bumi). Bumi was brought to market by financier Nat Rothschild and Indonesia's Bakrie family, reversing their coal ...

Asia Resource Minerals Completes Separation From Bakrie Group

- 3 months ago @ online.wsj.com: Under the deal, originally agreed to in December, Asia Resource Minerals—formerly known as Bumi PLC—will sell its 29.2% stake in PT Bumi Resources TBk to the Bakrie Group, the investment vehicle for one of Indonesia's most prominent families. The ...

Rothschild in Twitter Spat as Bakries Cut Ties With Miner

- 3 months ago @ bloomberg.com: Relations between Rothschild, who still owns about 17 percent of the venture, and the Bakries have been strained over their ill-fated $3 billion investment unveiled in 2010 that created Bumi Plc, later renamed Asia Resource Minerals. Yesterday marked ...

Nathaniel Rothschild's Asia Resource Minerals $501 Million Separation Deal

- 3 months ago @ jewishbusinessnews.com: Just to recap, in a culmination of am eighteen month saga of struggle for coherence in the shareholdings of the company, today Asia Resource Minerals completed the disposal of its 29.2% interest in its coal mining affiliate Bumi Resources to the Bakrie ...

LATEST NEWS

Bumi transfers 19% KPC stake to China's CIC in debt deal

Malaysia Chronicle: Bumi, Indonesia's biggest coal producer by volume, added that another 42 per cent of its holdings in Bumi Resources Minerals plus US$150 million of Bumi's own equity is scheduled to be transferred to CIC by September. Consequentially, the remaining ...

Bumi transfers 19pc KPC stake to China’s CIC in debt deal

Coal miner Bumi Resources confirmed the transfer of a 19 per cent stake in Kaltim Prima Coal (KPC) valued at US$950 million (RM3.03 billion) to China Investment Corporation as part of the debt-to-equity deal agreed to in October last year, Bumi said in a statement last Thursday. Bumi, Indonesia’s biggest coal producer by volume, added that another 42 per cent of its holdings in Bumi ...

NFC Tertarik Garap Proyek Tambang Bumi Resources Mineral

Liputan6.com: Liputan6.com, Jakarta - China Nonferrous Metal Industry's Foreign Engineering and Counstruction (NFC) tertarik untuk bekerja sama dengan PT Bumi Resources Minerals Tbk (BRMS). Kerja sama ini untuk pengembangan tambang tembaga dan emas yang ...

China's NFC Seeks to Cooperate With BRMS on Gorontalo Project

Jakarta Globe: China Nonferrous Metal Industry's Foreign Engineering & Construction, a mining and construction company, said it was interested in teaming up with Bumi Resources Minerals, a non-coal mining unit of Bumi Resources, to develop a copper and gold project ...

Bumi Resources Debt Settlement: CIC Takes 19% Stake in Kaltim Prima Coal

After the share transfer, Bumi Resources still owes CIC about USD $1.03 billion. Another chunk of this debt will be settled through transferring 42 percent of the shares of another subsidiary, Bumi Resources Minerals, (worth USD $257 million) to CIC.

Indonesia's Bumi transfers 19 pct unit stake to China's CIC

Reuters: Bumi expects to transfer a 42 percent stake valued at $257 million in another unit, PT Bumi Resources Minerals Tbk , as well as $150 million in its own equity to CIC by September. On Monday, Bumi shareholders approved its plan to raise 8.05 trillion ...

Asia Resource Minerals puts new chief Amir Sambodo in charge of flagship mine

CITY A.M.: Asia Resource Minerals, the Indonesian coal miner formerly known as Bumi, yesterday said its new chief executive Amir Sambodo would also be heading up its flagship operational asset, Berau Coal Energy. It is thought that the FTSE 250-listed firm hoped ...

Indonesia's Bumi Resources Minerals in talks to sell unit stake to Chinese firm

Reuters: Bumi Resources Minerals, majority-owned by Indonesian coal miner PT Bumi Resources Tbk, owes nearly $450 million to Credit Suisse, a company spokesman said. (Reporting by Fathiyah Dahrul; Writing by Eveline Danubrata; Editing by Christopher ...

KALTIM PRIMA COAL AND A 42..

Bakrie Group's Bumi Resources: Shares Plunge on Bond Default Concern

In this structure, CIC acquired a 19 percent stake in Kaltim Prima Coal and a 42 percent stake in Bumi Resources Minerals. Both companies are subsidiaries of Bumi Resources. Bumi Resources also plans to conduct a rights issue, with the aim to collect ...

Indonesian Miner Bumi Resources almost Defaulted on $300 Million Bond

In this structure, CIC would acquire a 19 percent stake in Kaltim Prima Coal and a 42 percent stake in Bumi Resources Minerals. Both companies are subsidiaries of Bumi Resources. Bumi Resources also plans to conduct a rights issue, with the aim to ...

Bumi Resources debt-share swap given all clear

SteelGuru: A minimum of 40% of shareholders' votes was required for the resolutions. To pay a portion of its USD 1.3 billion debt to CIC, Bumi will relinquish a 19% stake in the company's coal miner Kaltim Prima Coal and a 42 stake in Bumi Resource Minerals.

Indonesia's Bumi Resources Debt-Share Swap Given All Clear

Jakarta Globe: To pay a portion of its $1.3 billion debt to CIC, Bumi will relinquish a 19 percent stake in the company's coal miner Kaltim Prima Coal and a 42 percent stake in Bumi Resource Minerals. In December last year, a similar meeting failed to reach a ...

Indonesia's Bumi Resources Debt-Share Swap Given All

... votes was required for the resolutions. To pay a portion of its $1.3 billion debt to CIC, Bumi will relinquish a 19 percent stake in the company's coal miner Kaltim Prima Coal and a 42 percent stake in Bumi Resource Minerals .

ASIA RESOURCE MINERALS..

City stalwarts dropped from board of Asia Resource Minerals

Financial Times: Two leading City figures have been jettisoned from the board of Asia Resource Minerals, the Indonesian coal mining group formerly known as Bumi, in a vote backed by leading shareholder Samin Tan. Chris Walton, the former finance director of budget ...

Asia Resource Minerals chairman steps down after investor uprising

MINING.com: Asia Minerals Resources (LON:ARMS), the scandal-struck Indonesian coal miner formerly known as Bumi, said Friday the board decided not to re-elect Chris Walton as chairman at the annual shareholder meeting. The company, which is battling to turn ...

UPDATE 1-Asia Resource Minerals replaces chairman after investor revolt

Reuters: The miner, previously known as Bumi, also said its largest shareholder and former chairman, Samin Tan, had stepped down as a non-executive director. Tan owned about 24 percent of ARMS as of Dec. 31, according to Thomson Reuters data. ARMS is going ...

RESTRUCTURING: Bumi Resources to tackle August CB maturity

IFR Asia: ... and its many creditors into a complex restructuring. Bumi Resources is controlled by Indonesia's influential Bakrie family, who bought back a stake in the business from London-listed Asia Resource Minerals (formerly known as Bumi PLC) earlier this ...

Nathaniel Rothschild's Asia Resource Minerals $501 Million

... of struggle for coherence in the shareholdings of the company, today Asia Resource Minerals completed the disposal of its 29.2% interest in its coal mining affiliate Bumi Resources to the Bakrie Group for US$501 million in ...

Asia Resource Minerals Extends Deadline For Separation

Last week Asia Resource Minerals Plc, formerly called Bumi Plc, agreed, twice, to extend the deadline for completion of a major reshuffle amongst its asset ownership and shareholder groups until today January 20th, ...

PT BUMI RESOURCES MINERALS TBK..

Capex Bumi Resources Minerals US$60 Juta

Inilah.com: INILAHCOM, Jakarta - PT Bumi Resources Minerals Tbk (BRMS) mengalokasikan belanja modal sebesar US$60 juta pada tahun 2014. Direktur Keuangan BMRS, Fuad Helmy menjelaskan, alokasi belanja modal akan digunakan untuk infrastruktur PT Dairi ...

Bumi Minerals Fokus Kembangkan Aset Domestik

VIVA.co.id: VIVAnews - PT Bumi Resources Minerals Tbk menerapkan strategi yang lebih memfokuskan pada pengembangan aset-asetnya di Indonesia. Sejalan dengan strategi tersebut, perseroan mendilusikan kepemilikannya di aset tambang di Liberia, Afrika Barat, ...

ASIA RESOURCE MINERALS PLC..

Bumi plc: Interim Management Statement

Nick von Schirnding, CEO of Asia Resource Minerals plc said: "I am pleased to report a good Q1 performance with production and costs both well ahead of plan. Continued focus on cost and efficiency remains our priority in the continued weak coal price ...

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