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Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES


Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue last year to Rp 2.86 trillion (approximately US$ 311.123 million) from Rp927 billion (approximately US$ 100.843 million) a year earlier.

Profit after tax jumped 788% to Rp 302 billion (approximately US$ 32.852 million) from Rp 34 billion (approximately US$ 3.698 million), mainly driven by strong growth of coal production last year.

Golden Mines produced 4.39 million tons of coal last year from 1.77 million tons. Coal mining production facilities, located in Sumatra, East Kalimantan, and South Kalimantan, have reserves of 911.25 million tons per December 31 2011.

"The year of 2011 was a break through for us and an effort to continue oyr business as one of the largest coal players in Asia Pacific," said President Director Fuganto Widjaja in a statement filed to Indonesia Stock Exchange last week. Fuganto is son of Indra Widjaja.
Source: Insider Stories



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Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...


Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
  The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...


Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...


Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage. USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...


Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that,  the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...


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