Newmont Gold -mine closure blocked by Supreme Court. (Indonesia's Supreme Court)
Article Abstract:
Indonesia's Supreme Court has overruled the order of a provincial court, the District Court of Tondano ordering Newmont Mining Corp., to shut down its gold mine in Minahasa, due to a tax dispute. The ruling alleged Newmont Mining Corp., owed back taxes.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2000
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Geologist doubt fraud in Bre-X's Busang find
Article Abstract:
Some geologists believe that executives from Bre-X Minerals Ltd., who may have overestimated gold reserves in Busang, Indonesia, could not have committed fraud by altering the 100 soil samples for assaying. Bre-X founder and chairman David Walsh's and vice chairman John Felderhof's reputation could not have allowed the alleged fraud. The two have predicted that gold reserves in Busang could have more than 90 mil ounces of gold.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Silence grips Busang site
Article Abstract:
Inactivity marks the area of Busang in Indonesia, as residents remain silent over the stock market crash of the Busang gold mine operator, Bre-X Minerals Ltd. Busang residents are hopeful that the activities of Bre-X would bring prosperity to the area, reported to hold a large gold deposit. The crash of Bre-X on the stock market, after reports that the mine did not hold such large deposits, left many Busang residents employed by Bre-X with no jobs and no hopes of employment in the near future. Busang residents subsist by panning for gold, which on a good day could earn them as much as $6.23.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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