HERE are two developments for readers who are following the increasingly busy Indonesia gold story.
Over the past year or two, investor wariness regarding Indonesia has been abating. There are several reasons: memories of the Bre-X scandal have faded, the mining legislation has been made friendlier for foreign companies and - most importantly - good discoveries are being made. In an era when high-grade gold discoveries in Australia are becoming rare, the money moves to places where those discoveries can still be made.
And Indonesia has some deposits - Grasberg in West Papua, with an astonishing 120 million ounces of gold, Batu Hijau at 12m ounces and Tujuh Bukit with its 14m ounces.
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ARX Price at posting:
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