JAKARTA (Yosefardi) – Giant coal miner PT Bumi Resources Tbk (BUMI), member of Bakrie Group, took over three coal producers with total value of Rp1.25 trillion.
That three companies are PT MBH Mining Resources, PT Mitra Bisnis Harvest, and PT Buana Minera Harvest. BUMI took over MBH Mining through its unit PT Citra Prima Sejati which had in November 28, 2013 signed the agreement on conversion of debt into capital participation.
Citra Prima will convert its Rp320.2 billion loan into 320,202 shares issued by MBH Mining. Citra Prima will also convert its Rp596.31 billion loan into 1.19 million shares issued by Buana Minera. MBH Mining, Mitra Bisnis, and Buana Minera hold mining permits for coal concession in Banyuasin, South Sumatra.