The AFR reports that the Indonesian Government has hinted that it may relax restrictions on the foreign ownership of mines and that it is likely to backtrack on plans to prohibit miners from exporting unrefined ore planned for next month (AFR, "Jakarta rethinks foreign control", p9 23-04-2012)
The proposed 51% Indonesian ownership after 10 tears of production was a silly rule to begin with because it would inhibit further investment in mining at a time when Indonesia relies almost exclusively on foreign investment.
One way or another, KRM is not likely to be impacted becaust it is 15% locally owned and even if the compulsary divestment happened, it would have to be at market value with the first 5% happening in 2016.
As retail shareholders, it really does not matter who owns 51% of the company so long it is run for the benefit of all shareholders. For example, ABY is 51% Indian owned and it does not impede it from making good profits and paying good divvies.
With Best regards Moorookamick
PS: The Mar Qtr report should be close. MM
KRM Price at posting:
$1.28 Sentiment: LT Buy Disclosure: Held
