Jakarta plans sharp revisions to foreign mining terms
Article Abstract:
The Indonesian government, through the Ministry of Mines and Energy, released proposals which would severely affect foreign investments in the country's mining industry. The proposals seek to increase the earnings gained by the Indonesian government in foreign mining ventures, by stipulating an open-ended equity stake in the venture, based on the profitability of the mining project. The proposals also limit the ability of foreign mining firms to increase their exploration and development capital gained from stock offerings in the international market, by having them offer their stock offering in the Indonesian stock exchange.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Lihir Gold's initial offering may pan out for investors
Article Abstract:
Lihir Gold's scheduled initial public offering (IPO) in the Australian stock market on Oct. 9, 1995, is expected to attract a considerable number of investors. The company will also be traded in American depository shares on the US Nasdaq stock exchange. Lihir Gold expects to raise the $450 million it needs to develop the mine in its IPO in Australia. Stock analysts predict that at around 1.50 Australian dollars per share, Lihir Gold stock could be traded at a premium between 10% and 30% soon after it lists.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1995
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Bre-X, two affiliates file for protection from creditors
Article Abstract:
Bre-X Minerals Ltd and two affiliated companies filed for bankruptcy in the Alberta Court of Queen's Bench. The Calgary, Alberta-based company is accused of perpetrating the biggest gold-mining fraud in history. The court action, however, does not protect Bre-X's geologists involved in the gold hoax from possible criminal prosecution. Bre-X's top geologist and vice-chairman, John Felderhof, has resigned from his post.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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