PT Bumi Resources Tbk is one of the largest mining companies in Indonesia and is structured as a holding company.[3] In the 2012 Forbes Global 2000, Bumi Resources was ranked as the 1898th-largest public company in the world.[4] It is the biggest producer of thermal coal in Indonesia and is majority owned by the Bakrie Group and Salim Group.[5]
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 shifted 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.