Bumi to use U.S. dollar in its financial report

Publicly listed mining company PT Bumi Resources Tbk said it had received approval from the Ministry of Finance on the use of the English language and the U.S. dollar currency in its financial report.

In a recent statement to the Jakarta Stock Exchange Bumi said the new format will be effectively implemented starting 2006.

Bumi earlier said more than 90 percent of its sales, export and expenditures were dollar denominated.

Bumi controls two Indonesian major coal producers, PT Arutmin Indonesia in South Kalimantan and PT Kaltim Prima Coal in East Kalimantan. (Robert)