Deals
Bakrie Says Bumi’s London Move to Cut Coal Miner’s Debt Costs
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Bringing Bumi Plc to London will get the Indonesian miner the financing it needs to almost double output by 2013 and make it the world’s biggest exporter of power station coal, said Indra Bakrie, who will chair the company.
“The reason to be in London is also that it’s going to be a lot easier for Bumi to start growing organically,” Bakrie, whose family will control 43 percent of the company, said in an interview yesterday. “In 10 years from now we should be able to be the biggest coal producer. We are not going to stay quiet and do everything only in Indonesia.”