It’s almost certainly the worst officially-recorded mining disaster in recent Indonesian history. On Tuesday, 21 May 2013, twenty eight mineworker were confirmed dead as the result of a tunnel collapse at Freeport’s Grasberg operations in …
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London Calling on a Tale of Two Disasters – both involving Rio Tinto
Scandals at Bumi and ENRC lead investors to call for change in London listing rules
London Mining Network has long called for stricter oversight of mining companies listed in London: see our report and recommendations at http://londonminingnetwork.org/docs/lmn-the-case-for-stricter-oversight.pdf.
Rethink London listing rules after ENRC: top investor
The Government and regulators …
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Stories of Resistance – community activists slam Rio Tinto, Anglo American
Watch video coverage of the event last Monday with community and worker representatives from Colombia, Mongolia, South Africa, the USA and West Papua.
Ten Bumi executives desert the ship
Ten executives have quit PT Bumi Resources, Indonesia’s top coal exporter, as the firm gets ready to disconnect itself from the Bakrie Group and London-listed parent Bumi Plc. In a statement the company said its …
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The Bumi scandal reaches break-up point
A year ago, London Mining Network identified Bumi plc as a glaring example of abject failure in corporate oversight by Britain’s Financial Services Authority (FSA). By that point, the FSA had failed to prevent some …
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Things heat up as Bumi’s 21 February EGM approaches
Troubled coal mining company Bumi plc is to hold an Extraordinary General Meeting this Thursday, 21 February, to decide on Nat Rothschild’s proposal to throw out nearly all of the company’s current directors and replace …
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Drama at Bumi misses the point
The internecine warfare on the Bumi board makes for gripping entertainment. The articles below report on the ebb and flow of the struggle between ousted Nat Rothschild, whose financial machinations brought Bumi to the London …
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Rothschild-Bakrie mess makes London bourse look ‘second-rate’, fit only for ‘speculative mining plays’
Bumi plc was created in 2010 when Nat Rothschild, descendant of the founder of the two-centuries old banking empire, used his family name to get high profile investors to back him in a deal to …
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Indonesia Digging Up Too Much Coal: Greenpeace
Indonesia’s ambitious plans to boost coal production and exports from Kalimantan are ill-advised and not worth the environmental and social cost, according to a key report from Greenpeace. In the “Point of No Return” report, …
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More deaths around Freeport’s notorious Grasberg mine … and more to come?
Papuan civilians around Timika have again been made wary of military provocations that may potentially revive a bloody horizontal conflict, after a former Freeport mine worker’s mutilated body was found in a roadside trench on …
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Chaos, confusion and condemnation at Bumi
UK Takeover Panel censures Bumi
In mid-December 2012, the UK Takeover Panel ruled that the notorious Bakrie Group, and an investor called Rusan Roeslani, must reduce their shareholder voting rights in London-listed Indonesian coal giant …
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Rogue trade: Things just got a whole lot worse for Rothschild-Bakrie’s Bumi venture
Indonesian coal miner Bumi Resources, part owned by London-listed Bumi Plc, swung into a $632 million loss for the first nine months of 2012 after taking a $422 million hit from a rogue derivatives …
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