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Commodity rebound boosts Indonesian miners

Posted on 05 August 2016

Indonesian mining shares have been enjoying a rally in recent months on the back of price rises for major commodities such as coal, gold and nickel. The Indonesia Stock Exchange’s mining index has risen 26% since the beginning of June, outperforming the benchmark Jakarta Composite Index, which rose 11% in the same period.
Major Indonesian miners Adaro Energy, Aneka Tambang and Tambang Batubara Bukit Asam led the increases. Coal miner Adaro earlier this week proudly announced that its share price “has risen back to our IPO [initial public offering] level.” Falling coal prices over recent years had dragged down the share price, which hit its lowest level in January………………………………………..Full Article: Source


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