The battle for Busang
Article Abstract:
Political considerations are causing considerable problems at Bre-X Minerals, a very small Canadian company which believes that a gold deposit which it has discovered on Borneo Island could contain up to 400-500 million ounces. The Indonesian government is attempting to force the company to withdraw from a deal with Barrick Gold and Siti Hedijanti Rukmana, the oldest daughter of president Suharto. Bre-X shareholders are particularly angry that the company has been bullied by Barrick Gold to gain control of the gold discovery.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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Seek, and ye shall find: Canadian firm finds a mother lode of gold in Indonesia
Article Abstract:
Canadian mining company Bre-X is on the verge of proving a 30-million-ounce or larger deposit at its Busang site in E Kalimantan. The company's stock has jumped in value from $1.40 a share to $110 due to the site, which it acquired on the strength of geologist John Felderhof's claims and his support from financier David Walsh. The site's reserves could exceed 40 million ounces, and it seems to confirm the existence of a gold-bearing corridor in Kalimantan. Worth $15.4 billion, the mine will cost $550 million.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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New options: gas discovery allows Indonesia to recast energy plans
Article Abstract:
The discovery of a major natural-gas basin in western Iran Jaya will enable Jakarta to change its long-term energy plans. It will enable Indonesia to maintain its position as the top exporter of natural gas and allow reserves from Natuna to be used solely for domestic consumption, offsetting the cost of oil imports. In turn the government has been able to postpone the planned nuclear power plant, which had been widely criticised.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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