Under Indonesian law, foreign mining companies operating in the country are required to sell 51% of their local holdings back to the government after 5 years of commercial operation. However, Newmont (NYSE : NEM), will only be asked to relinquish 17% of its subsidiary, PT Newmont Nusa Tenggara (PTNNT), as 20% of this [...]
Posts Tagged ‘indonesia’
8 Jan
Ups & downs in Vietnam
2009 can be considered as a special year for Vietnam & it’s economy as the country has now belonged to the World Trade Organisation (WTO) for two years, facing both opportunities for growth along with internal challenges & heralding a sea change as Vietnams markets are now open to foreign companies as never before. Foreign investors [...]
31 Dec
Indonesia – the long road back
The Asian financial crisis in 1997 pushed Indonesia to economic collapse a decade ago. Its overextended banking system imploded, spurring high unemployment, severe rioting and, eventually, the fall of the Suharto government. Weathering an even more calamitous global storm now, Indonesia has managed relatively well.
Now, to help it endure the global recession, Indonesia, Asia’s third-most populous nation after [...]
22 Dec
Emirates & India pair up on Indonesian aluminium venture
India’s largest aluminum maker, state owned National Aluminum Company (NALCO), and United Arab Emirates government-linked RAK Minerals and Metals Investment (RMMI) plan to invest $4 billion to build a smelter and supporting infrastructure, including a power plant, in Tanjung Api-api, South Sumatra, Indonesia. $2.5 billion of the planned investment will be spent on the smelter [...]
