Shares of Bumi Resources (BUMI), the country’s largest coal producer by volume, ended lower by 2.7% to Rp108 on Wednesday (Nov 29) as investors responded negatively the company’s performance in the first nine months of 2023. BUMI, which is now co-owned by Bakrie Group and Salim Group, reported substantially weaker bottomline than peers.
Read MoreCoal miner Harum Energy (HRUM), which has invested more in nickel industry in the past few years, booked net profit of US$107.3 million in the first nine months of 2023, crashed by 55% from the same period last year due to correction in thermal coal price.
Read MoreShares of nickel producer Vale Indonesia (INCO) ended substantially higher by 7.1% on Wednesday (Nov 29) as investors responded to recovery of nickel prices, which gained nearly 3% in London Metal Exchange. Vale is a company to watch because of the ongoing negotiation with Indonesian government related to divestment of 14% shares.
Read MoreNewcastle coal futures increased to $128 per tonne as demand from China is set to rise as temperatures are falling. China’s thermal coal imports for November are anticipated to reach approximately 29.21 million metric...
Read MoreGold rose above $2,040 an ounce on Tuesday, Gold rose above $2,040 an ounce on Tuesday, rising for the fourth consecutive session and approaching a record close of 2050.5 hit in May as the US dollar retreated after speeches by...
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