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Business 05 Apr 2012 | 12:00 AM

MSC up despite worries over Indonesia’s tax hike plan

PETALING JAYA: The share price of Malaysia Smelting Corp Bhd (MSC) was not affected by the news that the Indonesian government may increase export tax on coal and base metals this year. The counter closed 3 sen higher to RM4.13 yesterday.

Business 28 Mar 2012 | 12:00 AM

Bumi seeks to end row with board shake-up

LONDON: Indonesian coal miner Bumi Plc has sought to draw a line under damaging discord between its leading shareholders, announcing a long-awaited board shake-up that brings in a new chairman and leaves a role for co-founder Nat Rothschild.

Business 10 Mar 2012 | 12:00 AM

Aussie miners play down Indonesia law impact

MELBOURNE: Australian miners are playing down the impact of a new law in Indonesia limiting foreign ownership in mines to no more than 49%, even after a senior Indonesian official said the law would apply to all foreign miners.

World 09 Mar 2012 | 12:00 AM

Indonesia stands ground with foreign miners

JAKARTA (Reuters) - Indonesia's government offered a clearer view on Friday of a new regulation that limits foreign ownership in mines to no more than 49 percent, saying the rule applies to existing as well as new contracts.

Business 29 Feb 2012 | 12:00 AM

Overcapacity, falling rates hit Maybulk Q4 net profit

KUALA LUMPUR: Malaysian Bulk Carriers Bhd’s (Maybulk) net profit for the fourth quarter ended Dec 31, 2011 slumped 75.6% to RM16.4mil against the previous corresponding quarter.

World 03 Feb 2012 | 12:00 AM

Coal mines shut as Australia evacuates flooded towns

SYDNEY (Reuters) - Heavy rains shut four coal mines in eastern Australia on Friday as military helicopters evacuated stranded residents from inundated towns, and authorities warned of further flash flooding.

World 13 Nov 2011 | 12:00 AM

Borneo mines lure Rothschild into the wild

JAKARTA/LONDON (Reuters)- It was supposed to be a union of two legendary business dynasties, one West, one East. Nathaniel Philip Rothshild, the 40-year-old scion of the storied European banking family, forged a deal a year ago with the Bakrie brothers, one of Indonesia's mightiest business families, to create an international coal-mining titan.

Business 08 Nov 2011 | 12:00 AM

Indonesia GDP up 6.5%

JAKARTA: Indonesia posted steady growth of 6.5% in the third quarter on buoyant domestic spending and private investment, and it showed few signs of slowing despite a weakening global economy.

Business 29 Sep 2011 | 12:00 AM

China firm’s plan to buy Aussie coal mine causes concern

SYDNEY: Western Australia's Premier Colin Barnett has raised concerns about foreign ownership in his resource-rich state after it was revealed a Chinese firm intends to buy a crucial coal mine.

Business 19 Sep 2011 | 12:00 AM

India's GVK pays $1.26 billion for stake in Australia's Hancock

NEW DELHI (Reuters) - India's GVK Power Infrastructure will pay $1.26 billion for a majority stake in three Australian coal mines and a port and rail project owned by Hancock Group to secure long-term coal supplies for the Indian group's power projects.