Bumi Resources


PT Bumi Resources Tbk or Bumi Resources is one of the largest mining companies in Indonesia structured as a holding company. It is reputedly the biggest thermal coal producer in Indonesia and is majority owned by the Bakrie Group.

History

The company was initially established as PT Bumi Modern in 1973 and engaged in the hospitality and tourism industry. It conducted its initial public offering in 1990 and transformed its business from hospitality and tourism to oil, natural gas, and mining in 1998. The company changed its name to PT Bumi Resources Tbk in 2000.
In 2013 the organisation was beset by a host of difficulties, including the discovery of US$201 million in financial irregularities, as well as regulatory problems.

Subsidiaries