Financial Times FT.com

Indonesia's Bumi wins battle to control Herald

By Lisa Murray in Jakarta

Published: July 18 2008 03:00 | Last updated: July 18 2008 03:00

Bumi Resources, Indonesia's biggest coal miner, yesterday won control of Australia's Herald Resources, ending a seven-month take-over battle to secure zinc and lead mines.

The Indonesian miner said it had secured a 51.3 per cent stake in Perth-based Herald, after rival bidder Aneka Tambang (Antam) and its Chinese partner pulled out of the race and agreed to sell their shares.

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