PT BA Targets Income of Rp 4.1 Trillio Bisnis Indonesia, page B1, 2007-05-05
PT Tambang Batubara Bukit Asam Tbk. (PTBA) targets to acquire Rp 4.1 trillion income this year. The company also aims a total sales of 11 million tons.
This year, the company also plans to share a dividend of Rp 485.67 million, an equivalent of Rp 105.39 per share.
PT Bukit Asam’s Mining Permit Cancellation Bothers Investment Kompas, page 24, 2005-10-12
The cancellation of the mining permit for coal owned by PT Bukit Asam could have an effect on the investment climate in South Sumatera. This law uncertainty will give a bad image to foreign investors.
PT Bukit Asam has the permit to mine on land as vast as 24,751 hectares. That land has been explored since the year 1990 and started to be exploited by PT Bukit Asam in 2003, in accordance to the South Sumatera’s Governor’s Decree No. 461/2003. However, in 2004, the governer cancelled that permit thrpugh decree No. 556/2004. This decree is against Law No. 75/2003 regarding mining permits. The cancellation of the permit has caused a loss for PT Bukit asam as much as Rp 206 billion.