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The Race to Acquire Avocet Assets (2)
Three business groups in Indonesia are currently competing to acquire gold mine assets of Avocet Mining Limited in Indonesia and Malaysia. One of them is Merukh Enterprises, which repeatedly claimed of having secured support for the acquisition. But two other groups have yet to surrender and might spoil Merukh's claims. ,Last Updated ( Wed, 01 Sep 2010)
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| Timah & China Correction
PT Timah (TINS) Tbk reported net profit of Rp322.3 billion in the first half of 2010, a 666% jump from Rp42.8 billion it booked in the same period last year on the back of higher sales and lower cost of goods sold, The Indonesia Today reported on Monday. The stock advanced further by 1% on IDX. What a China correction means to Timah? (Mon, 30 Aug 2010)
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| Gold Rush (21)
Gold prices eased off 0.49% to US$1,227 per ounce on Friday (August 20). As stock markets remained volatile worldwide, gold is still a "sexy" investment alternative for some investors. Activities in Indonesian gold exploration have increased substantially, with at least two major gold mines entering commercial production this year. (Sat, 21 Aug 2010)
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| • Government Regulation No 55/2010 | Mining | About 19 months after the new mining law deliberated (December 2008), government issued the third implementing regulation for the law. Yet, to implement the law and the government regulations, investors have to wait hundreds of lower level implementing regulations. This is what we love the most: alon alon asal klakon. | |
| • Spark of Interest in Iron Ore (2) | Mining | Abterra, listed on Singapore Stock Exchange, has entered into agreement with Shenzen Manfu Industrial Company to acquire 22.8% stake in Zuoquan Xinrui Metallurgy Mine for S$78 million. In this report: (1) Chevalier-MCC contract, (2) Opal Horizon - CV Geo Mineral Indonesia agreement. | |
| • Spark of Interest in Iron Ore | Mining | Last month, Merukh Enterprises entered into a JV with Indian Salgaocar Mining Industries Pvt Ltd to develop what Merukh claimed a 2.6 billion tons of iron ore resources in Sumba Island, East Nusa Tenggara. Yesterday, Rio Tinto announced additional investment of US$790 million to expand its Pilbara iron ore operation. How about Bumi Resources' iron ore asset in Mauritania? | |
| • H1 Results: Mining Contractors | Mining | There are at least five major coal mining contractors listed directly or indirectly on Indonesia Stock Exchange (IDX). They are Pamapersada (subsidiary of United Tractors), Bukit Makmur Mandiri Utama (Delta Dunia Makmur), Petrosea (Indika Energy), Saptaindra (Adaro Energy), and Darma Henwa (Bumi Resources). Performance? | |
| • H1 Results: INCO | Mining | PT International Nickel Indonesia (INCO) Tbk posted net profit of US$218.8 million in the first half of 2010, seven-fold from the same period last year on higher nickel prices and improved margins. Will INCO entering Top 10 anytime soon? | |
| • Hexindo & United Tractors | Mining | PT Hexindo Adiperkasa (HEXA) Tbk is one of the top performing stocks this year with 68% gain. United Tractors (UNTR), meanwhile, gained 28.4%. Both are market leaders in heavy equipment industry. HEXA is not even one-tenth of United Tractors, but started to take out slices of excavator market from UNTR. | |
| • H1 Results: United Tractors | Mining | Mining contractor, heavy equipment supplier, and coal producer PT United Tractors (UNTR) Tbk currently has market capitalization of Rp66.19 trillion or about US$7.3 billion, bigger than both Adaro Energy and Bumi Resources. Performance in the first half? | |
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