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Metal & Gold
Bumi Resources Minerals Posts $13.2m Net Loss in 9M-Period
Bumi Resources Minerals (BRMS), a multi-minerals mining arm of the Bakrie Group, reported a net loss in the first nine months of this year due to temporary decline in its Batu Hijau copper and gold mine. BRMS reported a $13.2 million in net loss in January-September, a swing after booking nearly $68 million in net Full Article
Bumi & Bumi Minerals, what is next?
Indonesia’s largest coal exporter PT Bumi Resources Tbk (BUMI) aims to dispose up to 20% stake in non-coal mining company PT Bumi Resources Minerals Tbk (BRMS) to strategic investors. The shares sale will be used by Bumi to put down its debt, particularly to its largest lender China Investment Corporation (CIC) and other creditors. Bumi Full Article
Vale Indonesia names Richardo as president commissioner
One of nickel miners PT Vale Indonesia Tbk (INCO) on Friday has appointed Ricardo Rodrigues de Carvalho as the president commissioner of the company, replacing Peter Poppinga, while Poppinga remains as a member of the board of commissioner of the company. The shareholders of the Company also accepted the resignation of Tito B. Martins as Full Article
Bumi Minerals 1H net profit surges 96.82%
PT Bumi Resources Minerals Tbk (BRMS), a non-coal subsidiary of coal miner PT Bumi Resources Tbk (BUMI), reported a 96.82% jump in net profit for the first half of this year. In a press statement today, the profit jump was mainly driven by the favorable realized commodity prices and the reduced interest and financing charges. Full Article
Antam seeks US$900 bio for Halmahera
Two sources close to the deal said Antam had invited 26 foreign and local investment banks. “Antam seeks a structured financing to develop Halmahera project with an estimated cost of US$1 billion and US$600 million for the power plant to be set up by PLN,” the source said. As mentioned at the proposal, Antam comes Full Article
Halmahera project & consorsium
The project is set to have a total capacity of 27,000 tons of nickel in ferronickel. The project and the power plant’s total cost is estimated to reach US$1.6 billion. Two sources close to the deal said Antam had invited 26 foreign and local investment banks. “Antam seeks a structured financing to develop Halmahera project Full Article
Antam & Halmahera project financing
Two sources close to the deal said Antam and help by its financial advisor PT Danareksa Sekuritas has come out with a request for proposal sent to about 27 investment banks.Full Article
Bumi Minerals grabs US$54 mio dividend
PT Multi Daerah Bersaing (MDB), a subsidiary of PT Bumi Resources Minerals Tbk (BRMS), today obtained US$54 million dividend from gold miner PT Newmont Nusa Tenggara (NTT). Investor Relations BRMS Herwin Hidayat stated in the press release that Multi Daerah Bersaing obtained such dividend because its holds 24% stake in Newmont. ”This is the fourth Full Article
Timah to enlarge stake in Koba Tin?
Indonesia’s largest tin producer PT Timah Tbk (TINS) is rumored to enlarge holding in PT Koba Tin. As reported by a local newspaper today, Timah is currently holding 25% stake in Koba Tin and the remaining is controlled by Malaysia Smelting Corporation Berhad (MSC). A source said Timah is conduction an internal audit as preparation Full Article
Bakrie Group backdoor listing in London
Bakrie Group will be the largest shareholder in Vallar Plc after it completes the acquisition and shares swap deals. The deal seems to be a backdoor listing of Bakrie Group in London stock market. In a press statement, Bakrie Group will control 43% stake in Vallar Plc, PT Bukit Mutiara, owned by Recapital Advisors, holds Full Article