|Type||Public limited company|
|Traded as||LSE: BUMI|
|Headquarters||London, United Kingdom|
Samin Tan (Chairman)
|Revenue||$1,407 million (2011)|
|Operating income||$241 million (2011)|
|Net income||$(282) million (2011)|
Bumi plc is a major international mining group. It is listed on the London Stock Exchange.
In July 2010 Vallar plc, a Jersey-incorporated investment vehicle founded by Nathaniel Rothschild, raised £707.2 million ($1.07 billion) in an Initial public offering on the London Stock Exchange. Together with other members of the Vallar management team, they have invested £100 million in shares of the company. Vallar decided to focus on investments in mining of metals, coal, and iron ore in the Americas, Russia, Eastern Europe, and Australia.
In November 2010, Vallar announced it was buying stakes for $3bn in two listed Indonesia thermal coal (used for power stations) producers for a combination of cash and new Vallar shares, with a view to combining them to create the largest exporter of thermal coal to China, India, and the other emerging economies of Asia. The transaction closed as planned on 8 April 2011. In April 2011, Vallar plc was renamed Bumi plc.
In September 2012 the company announced that it was looking into possible financial irregularities at its Indonesian arms resulting in a 14% fall in its share price. Its much-delayed financial results for 2012 showed a $200m black hole.
- Preliminary Results 2011
- "£707M Vallar float exceeds". express.co.uk.
- "Vallar Completes Acquiring 75% Berau, Recapital Says". bloomberg.com.
- "Vallar to Buy Bumi Minerals for $2.1 Billion to Add Deposits". bloomberg.com. Retrieved 30 July 2011.
- "Bumi investigates alleged financial irregularities". The Telegraph. 24 Sep 2012. Retrieved 7 October 2012.
- Josephine Moulds (31 May 2013). "Bumi reveals $200m black hole in financial results". The Guardian.
- "Berau Coal Energy". Reuters. Retrieved 18 February 2013.
- "Indonesia Stock Movers: Bumi Resources, Garuda, Indika Energy". Bloomberg. Retrieved 18 February 2013.
- Bumi: Home page