Sumatra Copper & Gold to Sell 20 Pct Indonesia Stake-Shanghai Metals Market

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Sumatra Copper & Gold to Sell 20 Pct Indonesia Stake

Industry News 10:13:22AM Jun 27, 2012 Source:SMM

JAKARTA, June 26 (Reuters) - Australia's Sumatra Copper & Gold is to sell a stake of up to 20 percent to meet Indonesian foreign ownership requirements introduced this year, a senior executive said on Tuesday.

Indonesia, the seventh largest gold producer last year, is looking to limit foreign ownership in mines to no more than 49 percent after 10 years of production.
 

Key Words:  Sumatra Copper & Gold  

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#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Standard-Grade Copper
May.24
46990.0
215.0
(0.46%)
High-Grade Copper
May.24
47030.0
210.0
(0.45%)
Guixi copper
May.24
47040.0
210.0
(0.45%)
Low-quality copper
May.24
46920.0
220.0
(0.47%)

Sumatra Copper & Gold to Sell 20 Pct Indonesia Stake

Industry News 10:13:22AM Jun 27, 2012 Source:SMM

JAKARTA, June 26 (Reuters) - Australia's Sumatra Copper & Gold is to sell a stake of up to 20 percent to meet Indonesian foreign ownership requirements introduced this year, a senior executive said on Tuesday.

Indonesia, the seventh largest gold producer last year, is looking to limit foreign ownership in mines to no more than 49 percent after 10 years of production.
 

Key Words:  Sumatra Copper & Gold