Bumi selects six potential buyers for mining units

JSX-listed coal miner PT Bumi Resources Tbk reported Tuesday it had selected six of 13 interested companies that would buy 30 percent of its two coal mining units, PT Arutmin Indonesia and PT Kaltim Prima Coal (KPC).

Bumi said in a statement to the bourse that the potential buyers had completed carrying out due diligence, site visit and access to the data room.

"Final binding bids are expected to be completed by early February," Bumi said, adding that the winner will be announced in the beginning of March this year. (Robert)