 | |
| Industry | Mining |
|---|---|
| Founded | July 2010 |
| Defunct | 14 November 2017 |
| Fate | Dissolved [1] |
| Headquarters | London, United Kingdom |
Key people | Samin Tan (Chairman) Amir Sambodo (CEO) Halim Tan (CFO) |
| Revenue | $1,425 million (2013) [2] |
| $(23) million (2013) [2] | |
| $(252) million (2013) [2] | |
| Website | www.asiarmplc.com/ |
Asia Resource Minerals was a mining company 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. [3]
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. [4] In April 2011, Vallar plc was renamed Bumi plc. [5]
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. [6] Its much-delayed financial results for 2012 showed a $200m black hole. [7] It was reported that Rosan Roeslani, a former CEO of the subsidiary, had stolen $173 million from the firm. The firm decided that if Roeslani returned the money, no legal action would be taken. [8]
In December 2013 the company changed its name to Asia Resource Minerals; at the same time Samin Tan paid $223 million to purchase the Bakrie family's 23.8% stake in the company. [9]
The company had an 84.7% holding in Berau Coal . [10]
BHP Group Limited is an Australian multinational mining and metals public company headquartered in Melbourne, Victoria, Australia.
Anglo American plc is a British multinational mining company with headquarters in London, England. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore, polyhalite and steelmaking coal. The company has operations in Africa, Asia, Australia, Europe, North America and South America.
Sinar Mas is one of the largest conglomerates in Indonesia. It was formed in 1938. It has numerous subsidiaries including Asia Pulp & Paper and palm oil producer PT SMART. The company also acquired Berau Coal Energy from Asia Resource Minerals PLC, a major mining group founded by Nathaniel Rothschild, in a takeover initiated by Fuganto Widjaja.
Nathaniel Philip Victor James Rothschild, 5th Baron Rothschild , is a British-born financier who settled in Switzerland and is a member of the Rothschild family. He is the chairman of Volex plc, a UK-listed manufacturer. He has a wide range of international business interests.
Glencore plc is a Swiss multinational commodity trading and mining company with headquarters in Baar, Switzerland. Glencore's oil and gas head office is in London and its registered office is in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2015, it ranked tenth in the Fortune Global 500 list of the world's largest companies. In the 2020 Forbes Global 2000, Glencore International was ranked as the 484th-largest public company in the world. As of July 2022, it is the world's largest commodity trader. In 2023, the company was ranked 59th in the Forbes Global 2000.
Eurasian Natural Resources Corporation PLC (ENRC) was a public, Kazakhstan/Central African-focused, multinational leading diversified natural resources company headquartered in London, United Kingdom. It had activities in integrated mining, processing, energy, logistics and marketing.
Tavan Tolgoi is one of the world's largest untapped coking and thermal coal deposits, located in the Ömnögovi Province in southern Mongolia. It has a total estimated resource of 6.4 billion tonnes, one quarter of which is high quality coking coal. It is divided into six sections: Tsankhi, Ukhaa Khudag, Bor tolgoi, Borteeg, and Southwest and Eastern coalfields. The Tsankhi section is the largest part, and is divided into East and West Tsankhi - these have had the most focus recently.
Red Island Minerals Ltd (RIM) is a Perth Western Australia-based coal development company operating in Madagascar. The company is wholly owned by PTT Asia Pacific Mining Pty Ltd, a subsidiary of PTT Public Company Limited, a state-owned Thai company.
PT Bumi Resources Tbk is one of the largest mining companies in Indonesia and is structured as a holding company. In the 2012 Forbes Global 2000, Bumi Resources was ranked as the 1898th-largest public company in the world. It is the biggest producer of thermal coal in Indonesia and is majority owned by the Bakrie Group.
Man GLG is a discretionary investment manager and a wholly owned subsidiary of British alternative investment manager Man Group plc. It is a diversified and multi-strategy fund manager that operates strategies including equity long-short funds, convertible arbitrage funds, emerging market funds and long-only mutual funds. The firm is also a founding member of the Hedge Fund Standards Board and a signatory of the Principles for Responsible investment. As of 2022, Man GLG had $35.4 billion assets under management.
Hunnu Coal Limited is a mining company that is incorporated in Australia for the purpose of acquiring and developing coal projects in Mongolia.
Mundra Ultra Mega Power Project or Mundra UMPP is a subbituminous coal-fired power plant in Tunda village at Mundra, Kutch district, Gujarat, India. It is the 3rd largest operational power plant in India. The coal for the power plant is imported primarily from Indonesia. The source of water for the power plant is sea water from Gulf of Kutch. The power plant is owned by Tata Power. The special purpose vehicle Coastal Gujarat Power Ltd (CGPL) was incorporated on 10 February 2006.
The Bakrie Group is an Indonesian conglomerate founded by Achmad Bakrie in 1942. It has interests across various industries including mining, oil and gas, property development, infrastructure, plantations, media and telecommunications. The group is one of the largest business groups in Indonesia, with 10 companies listed on the Indonesia Stock Exchange.
Mining is important to the national economy of Mongolia. Mongolia is one of the 29 resource-rich developing countries identified by the International Monetary Fund and exploration of copper and coal deposits are generating substantial additional revenue.
Mining in North Korea is important to the country's economy. North Korea is naturally abundant in metals such as magnesite, zinc, tungsten, and iron; with magnesite resources of 6 billion tonnes, particularly in the North and South Hamgyong Province and Chagang Province. However, often these cannot be mined due to the acute shortage of electricity in the country, as well as the lack of proper tools to mine these materials and an antiquated industrial base. Coal, iron ore, limestone, and magnesite deposits are larger than other mineral commodities. Mining joint ventures with other countries include China, Canada, Egypt, and South Korea.
Bumi may refer to:
KAZ Minerals plc is a British copper company focused on large scale, low cost open pit mining in Kazakhstan. The company operates 3 underground mines and 2 concentrators in the East Region, one open pit mine at Bozymchak, Kyrgyzstan and is developing two major growth projects Aktogay and Bozshakol, with the third - Koksay - at scoping stage. KAZ Minerals was created after the completion of the Restructuring of Kazakhmys PLC. The company was listed on the London Stock Exchange and Kazakhstan Stock Exchange until it was acquired by Nova Resources in April 2021.
PT Berau Coal Energy Tbk is Indonesia's fifth largest coal producer.
Fuganto Widjaja is an Indonesian billionaire businessman.
Rosan Perkasa Roeslani is an Indonesian diplomat and businessman who is currently Vice Minister of State Owned Enterprises. He was Indonesian Ambassador to the United States. He is one of three Indonesians who bought the Italian football club Inter Milan in 2015.