PT BPMS - News & Events
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Indonesia mogul ready to discuss deal on Intrepid project
An Indonesian tycoon who owns a big stake in a huge copper and gold prospect taken from Australia\'s Intrepid Mines last year is willing to resolve the ownership dispute, he said in a letter to an investor looking to oust the company\'s board. The dispute is over the Tujuh Bukit project, potentially ... read more
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Quantum says new team could recover Intrepid’s Indonesia stake
Quantum Pacific Investment Ltd., the third-biggest shareholder in Australia’s Intrepid Mines Ltd., said that with a new leadership team it can recover some of the explorer’s stake in a key Indonesian asset. Intrepid lost control of its 80 percent stake in Indonesia’s Tujuh Bukit deposit, ... read more
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Gold bar premiums hit all-time highs in Asia
Premiums for gold bars rallied to all-time highs in Hong Kong and Singapore on Thursday after bullion\'s steepest drop since its April sell-off fuelled another round of buying, constricting supply. Gold bars in Hong Kong fetched premiums of up to $5 an ounce over spot London prices, driven by tight ... read more
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At least 33 missing after tunnel collapse at Grasberg mine
A training tunnel collapsed on Tuesday at the world\'s second largest copper mine in eastern Indonesia, trapping at least 33 workers underground, the mine\'s owner, Freeport-McMoRan Copper & Gold Inc, said. Earlier reports, quoting a mine official at the scene, had said three workers were killed ... read more
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Sumatra raises A$20m for Tembang development
Metals developer Sumatra Copper & Gold is looking to raise some A$20-million through a rights issue to underpin the development of its Tembang gold/silver project, in Indonesia. Under the fully underwritten rights issue, Sumatra would issue some 117.8-million chess depository interest (CDI) shares ... read more
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Chevron criticises imprisonment of Indonesian contractor
JAKARTA – Oil firm Chevron on Wednesday criticised the sentencing of one of its Indonesian subcontractors to five years in jail for breaching environmental laws, citing irregularities in the investigation and trial. A lawyer representing the subcontractor said he would file an appeal. \"The panel ... read more
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Vale Indonesia sees 10% increase in 2013 nickel output
JAKARTA – Nickel output at PT Vale Indonesia is expected to increase 10% to about 78 000 t this year, the company said on Tuesday, on the back of strong first-quarter results. Vale\'s nickel matt output rose in the first quarter to 18 514 t, 49% higher than production of 12,431 tonnes a year ago. \"Considering ... read more
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Gold’s fall brings new, young buyers in China
It is not just the elderly in China who are buying gold. Given its recent dip, the young and restless in China and coming out in droves and buying bullion, some realizing the precious metal\'s intrinsic value while others are just being goaded by their mothers to buy. Two weeks ago, bullion plunged ... read more
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Company Announcement: Award of Final Forestry Permit for Tembang Project
Sumatra Copper & Gold plc is pleased to announce that it has achieved the most significant milestone to date at its 100%-owned Tembang Gold-Silver Project in southern Sumatra, Indonesia, following the award of the final “Borrow and Use” permit or “Pinjam Pakai” for the ... read more
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Sumatra on track to start production by 2014
Metals developer Sumatra Copper & Gold has been awarded the final forestry permit for its Tembang gold/silver project, in Indonesia, clearing the way for construction to start. The company said on Friday that the award of the final forestry permit marked the completion of a rapid and highly successful ... read more
