Anyone remember Rio Tinto's foray into Coal in Indonesia?
They were the ones that established the coal resources on Kalimantan only for the Indonesians to turn around and screw them out of it. Rio were forced to sell it to Government controlled entities for a mere fraction of its worth. Happening now to Herald also with their lead/zinc.
Refer to:
http://www.atimes.com/atimes/Southeast_Asia/EG24Ae01.html
So add a big discount onto any valuations for the political risk.
May go up due to the efforts of rampers but not a long term prospect.
share in 35bt tonnes of coal...mkt cap 16mn..., page-8
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