Rothschild Resigns from Bumi Board
Rothschild’s move was spurred by a proposal from the Bakrie family, who offered $1.2 billion for Bumi’s Indone-sian coal assets. Rothschild explained it would be a disgrace to proceed with, or even to entertain, the proposal by the Bakries before the investigation is com-pleted. He questioned the board’s loyalty to minority shareholders.
In 2011, Bumi Resources mined 65.9 million metric tons. Its primary sub-sidiaries are Kaltim Prima Coal (KPC) and Arutmin, which operate through seven primary mines: the Sangatta and Bengalon mines are operated by KPC and the Senakin, Satui, Mulia, Asam Asam and Batulicin mines are operated by Arutmin.