JAKARTA -- Indonesia's Bumi Resources announced on Friday a conditional agreement to sell within six months half of coal mining subsidiary for $130 million in a bid to rein in its mounting debt problem.
Indonesia's largest coal mining company, Bumi hopes to sell a 50% stake in Fajar Bumi Sakti, which manages a total concession area of 8,250 hectares in East Kalimantan, to Jainson Holding Hong Kong, a unit of Jainson, the Indian mining and trading group.
