Back To Square One

Rio Tinto and BP have relinquished KPC to Bumi Resources. What is the scenario behind the sale?

July 29, 2003

THE final chapter in the divestment of Kaltim Prima Coal (KPC) veered far from what the Government of Indonesia had imagined. The scenario prepared from the beginning changed course midway. The divestment program of the majority shares owned by Rio Tinto (Australia) and BP (UK), which should have been concluded seven years ago, seems to have gone back to square one. The hopes that had been burning brightly to share the big profits from the div

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